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Biden administration cancels student loans of more than 150,000 borrowers under new plan
(www.nbcnews.com)
this post was submitted on 21 Feb 2024
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This isn't an action right before an elction. The 130 billion has been over the course of the admin. If not for the supreme court, total forgiveness would have been over 530 billion, or roughly 30% of that total. As is, its roughly 7%.
7% doesnt seem like much, but its about 7% more forgiven then any admin ever. No other admin comes even close to 1% of that total. Biden has forgiven at least 7x times as much student debt as Obama, and infinity more than any Republican.
Trump's admin blocked forgiveness almost totally, only allows a few dozen people at all, and refusing to process other people that qualified. The previous president literally refused earned forgiveness under much more stringent rules, and now we have Biden going harder than any other president ever by leaps and bounds and youre mad about it.
This skips all the huge improvements in loan repayment too, including 0% interest if you make monthly payments, doubling the amount of income people need before payments go above $0/month from 15k to 32k, allowing delinquent borrows to true up scot free, on and on. They have done tons of positive things for student loans, but because it wasn't everything, apprently it wasent enough for you.
You wanted $100 from previous admins and got $0. Biden tried to give you $30 before being blocked by political hacks, and has actually managed to give you $7 so far, but youre still pissed its not the whole $100. Okay then.