BREAKING: President Biden to announce plan for student debt relief

[brooklynite]

Link to tweet

[Thomas Hurt]

1. To be followed shortly thereafter by Christofascist "welfare queen" level resentment and lawsuits.

[brooklynite]

2. Already out...

Link to tweet

[Omnipresent]

7. Republicans are always ready to go after "the low hanging fruit" as in...

The working class.
In the meantime, they want us to coddle the wealthy.

[regnaD kciN]

12. And they'll keep doing it...

…as long as enough of the working class allows themselves to ignore any sign of a class war in favor of voting along the lines of a “culture war” pitting “real Americans” against PoC, LGBTQ+, immigrants, etc., etc.

[The Unmitigated Gall]

16. Write your dream down on a piece of paper...

Then burn it in an ashtray because YOU loser, don’t have millionaire parents.

Fuck you, Ben Shapiro…fuck you.

[Haggard Celine]

3. Great news!

Biden has had an extremely successful term so far. If we can keep this momentum going all the way to the elections, we should do well.

[Elessar Zappa]

4. My brother will be thrilled.

He’s underwater with college debt. Thank you President Biden!

[Johnny2X2X]

5. This is a huge deal.

This will forgive roughly 25% of all student loan debt.

Biden has been chipping away at this debt since the day he took office. And extending the payment pause another 5 months is also a big deal. I think he’ll do another $10 K before the end of his first term.

[emulatorloo]

9. Agreed, and I think it is very fair.

[JohnSJ]

6. I suspect there will be some who will complain that it isn't 50K or every 100%, and the CAP

isn't higher

[emulatorloo]

8. "Left" twitter will bitch about it, especially the upper class ones.

[treestar]

21. Yes. I wonder how soon we will see that young voters

aren't going to come out unless it is more and better than that.

[JohnSJ]

22. I hope not. Of course the republicans, per Bloomberg, are out there criticizing it, arguing

why should tax payers subsidize those who took the loan out?

Counter arguments of course are, why are we subsidizing the banks and various corporations with tax payer dollars?

Personally I feel it is better for us to focus on our accomplishments, including this loan forgiveness, instead of engaging in a distracting debate from our opponents.

It should be noted that Democrats were for those bailouts such as GM and banks, because it saved jobs, and they are for this to help those who are having trouble making ends meet due to the republican mishandling of the pandemic, along with the seeds of inflation planted by the republicans with their trade wars, and shortages the shortages that it created.

[ColinC]

10. This is welcome news. Of course, I strongly feel that those who paid off their loans should

Get a 10k refund. The extension will give some time to see if we get a congress that will pass a student loan reform bill.

[maxsolomon]

13. You won't.

Dems will not have 2/3 of the Senate no matter how rosy the outcome in Nov.

[Elessar Zappa]

14. Why 2/3?

If you’re talking about the filibuster, that’s not 2/3, it’s 60. Also, if we have 52 senators we may have enough to get rid of the filibuster. Getting rid of it only requires a simple majority.

[maxsolomon]

15. Yes, 60

Thanks for the correction.

[lindalou65]

11. Student debt forgiveness

will help so many, myself included. I am almost 75 and still paying off my debt. I am well under the income threshold and greatly appreciate the help to reduce debt.

Thank you President Biden!

[Johnny2X2X]

17. income based repayments going from 10% to 5%!!!

This will be AGI less expenses, moving from 10% to 5% if you have undergrad loans.

This is a total game changer!!! It halves the payments of anyone using Income based repayment options! Biden just solved the student loan debt crisis. I don't think the public fully gets what IBR methods are, they offer total forgiveness after 20 or 25 years. This means the forgiveness will be much higher for borrowers who owe the most.

Link to tweet

?s=20&t=DjFQtyYiiOzKIdH_N01sWw

[Sympthsical]

18. I think this significantly alters the course for November

People know what their pocketbooks look like, and there are many, many, many people who will get relief from this. Not just the forgiveness, but the proposed 5% repayment plan.

I think older voters severely underestimate how impactful student loans have been in younger generations.

There will always be the "Got Mine!" contingent who complain whenever anyone else gets the help they need. I paid my loans, and I 100% support making sure the ladder not only stays down for others, but that it is extended past what my generation has had to put up with economically.

[JohnSJ]

23. Getting out the vote is everything

[EnergizedLib]

19. Good job, POTUS

There’s a lot of things we subsidize in this country that I’m not fond of. I don’t mind help subsidizing something good for a change.

[Renaissance Man]

20. I have been waiting for this.

I have been waiting for this. This is welcome news, and will cut into the debt from my undergraduate student loans substantially. Thank you, President Biden.