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It’s official. President Biden announced on Wednesday a new student loan forgiveness plan that would wipe out significant amounts of debt for tens of millions of Americans. He said the long-awaited plan would erase $10,000 in debt for those earning less than $125,000 per year (or $250,000 for households) and $20,000 for recipients of Pell Grants — for students with the greatest financial need.
The debt relief — which was delivered after years of pressure and heated debates — comes just weeks before the midterm elections. "An entire generation is now saddled with unsustainable debt in exchange for an attempt, at least, at a college degree," Mr. Biden said in his remarks at the White House. "The burden is so heavy that even if you graduate, you may not have access to the middle-class life that the college degree once provided."
Immediately, the topic took over the internet with anyone and everyone offering their opinions on the matter. And a brief scroll through Twitter made one thing clear — responses to the news have been all over the place. Although the plan is a game-changer for those trapped in a cycle of staggering debt, certain people online were quick to denounce the plan.
Below, we at Bored Panda wrapped up some of the reactions people shared online to Republicans criticizing the move, from the sarcastic to the sincere. Continue scrolling and upvote the ones you agree with the most. Then let us know where you land on this topic, we’d love to hear your thoughts in the comments!
President Biden announced on Wednesday his long-awaited student loan forgiveness plan that will wipe out up to $10,000 in debt for borrowers and up to $20,000 for Pell Grant recipients
The internet immediately erupted with reactions, here’s what people had to say
This post may include affiliate links.
#1
Lorraine 3 years ago
Wait... what do politics and economy have to do with religion?? You're weird US...
Mrs. Jan Glass 3 years ago
Seriously. We can't make sure a kid gets three full meals a day or can identify themselves because some a*****e over there thinks it conflicts with his idea of what his church says Jesus would do. Obviously, anyone who's actually read the bible knows that Jesus would make free school lunches a thing and would accept any of the iterations of LGBTQ+/pronouns/gender, but not here in America! I believe the term for what Conservative Christians believe is "supply side Jesus."
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Orange Frosting 3 years ago
I am a Christian, and I couldn't agree more with this!!! I LOVE that some people will be helped with crippling student debt.
Lili Octopus 3 years ago
Does this mean about the belief that Jesus died for our sins? (Excuse my ignorance!)
Jennifer Norton 3 years ago
Seriously!!! Start using their words against them!!! They need to see how hypocritical they really are!!!!! Education should be free since it benefits our whole society!!!! Cancel all the school debt!!!!!!!!!
FactcheckerGeneral 3 years ago
"There was only ever one Christian, nd he died on the cross." - Friedrick Nietzsche
P. Mozzani 3 years ago
This is one of the most awesome comments that I have read in a very long time. It's spot-on without personally "attacking" anyone. That is admirable and rare.
RELATED:
#2
Don't you wish you knew 3 years ago
I have a BS degree and no student loan debt but I think it's great if people who do can get some relief from it.
JE Cummings 3 years ago
Same here, used the GI Bill, but I am THRILLED folks can get their debt reduced.
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3 Owls In A Coat 3 years ago (edited)
I paid my own entire way through college - and worked my a*s off to do it too. I am SO EXCITED for these students!! This is amazing!! 👏 this will help so many people get a better start in life, which only means good things down the road for society - f yeah! 💪 this is the right path guys!
Mrs. Jan Glass 3 years ago
Education must be accessible to be effective. My education was a constant struggle and hardship, and I barely made it through. Hundreds of others quit. That's unacceptable. Anyone who wants to learn needs to have access, and those of us who teach need the freedom and resources to do so.
Big Chungus 3 years ago
I had to take out student loans and luckily not a lot, but this forgiveness completely covers the rest of my BA degree and now I can focus on what is left for my Masters
Katy McMouse 3 years ago
Congratulations! I remember vividly being the stress of student loans and I wouldn't wish it on anyone (except, maybe, the morons fighting it). Good luck with your masters!
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Jennifer Norton 3 years ago
Hey, my parents were able to pay for my college so I would have no school loans when I graduated and I still want this. No one should have to pay!
Anne Kilpatrick 3 years ago
My 3 sons all have student loans that they have been paying on for years. This program won't affect them, I'm still glad for the people who are going to get it.
Jessica J. 3 years ago
So did I, and I couldn't be happier others will be able to sleep easier with less debt hanging over their heads.
#3
Tamra 3 years ago
I have a controversial idea, Ben, how about we don't allow universities to financially gouge people who want to get a f*****g education? Idiot.
Reinaldo Fuentes 3 years ago
Ben kept his loan information in the same folder marked "How do lady parts work?" and forgot about both of them.
Lucifer 3 years ago
Ben Shapiro is the conservative "intellectual" & he has less brain/neural activity than a dead sea anemone. And if he's the intellectual, does it mean that the rest are even dumber than him?
Tamra 3 years ago (edited)
He's the low bar beneath which the rest of the conservatives slither. No offense to snakes.
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Pirates of Zen Pants 3 years ago
Absolutely, Chris. If I weren't already married, I'd be proposing to Old Lady Seeking Justice.
Load More Replies... Mrs. Jan Glass 3 years ago
Also Republicans: "Use these credit cards to buy a whole lot of stuff like cars and TVs to boost the economy!" Buy c**p for a quick fix, sure, but don't you dare get an education and be able to think circles around your GOP overlords, right, Ben?
Vidas Zlioba 3 years ago
Sorry folks, I completely understand how desperately you wish this to be true, but perhaps you shouldn't have so much faith in the process of confirmation bias. (Hint: there is more than one Ben Shapiro living in the United States).
Martin Blaney 3 years ago
This site is full of some of the most ill-informed people on the planet...
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Frank Ropen 3 years ago
Perhaps Ben Shapiro Shouldn't Be Taken Seriously By Anyone About Anything https://youtu.be/aDMjgOYOcDw
Mama Penguin 3 years ago
Here's a controversial idea: don't speak if you have nothing nice and worthwhile to say.
The new student loan forgiveness plan fulfilled President Joe Biden’s campaign pledge to deliver financial relief for millions of Americans. However, not everyone with debt will qualify. "Both of these targeted actions are for families who need it the most — working and middle-class people hit especially hard during the pandemic making under $125,000 a year," Biden said. "You make more than that, you don’t qualify."
The debt forgiveness applies to current students as well, although future students will not be eligible for relief as it applies to those who took out their loans before July 2022. Undergraduate loan payments will also be no more than 5% of monthly income — down from the 10% available under the most recent income-driven repayment plan.
Moreover, according to the Education Department, the relief is capped at the amount of a borrower’s outstanding eligible debt. "For example: If you are eligible for $20,000 in debt relief but have a balance of $15,000 remaining, you will only receive $15,000 in relief."
As stated in the tweet, the president will also extend the payment pause on most federal student loans "one final time" through December 31, 2022.
#4
Foxinamug 3 years ago
3rd kind of people: "I didn't have to go through it, but I've decided you should have to, for *reasons*"
Bender Bending Rodríguez 3 years ago (edited)
4th kind: "I didn't have to go through it, but I am happy to help you." like myself. I didn't go to college in USA so I never had student loans. I am still happy about this forgiveness because I understand how f****d up student loan system is. I am also not afraid of, as some republicans call it, "those people" getting some relief.
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Mrs. Jan Glass 3 years ago
This is a huge part of why I went into education and became a prof in the first place. I don't want anyone to have to go through the hardships I went through to get to this point. My experiences mean that I can more effectively teach and advise my own students, because I don't want them to feel as isolated and ignored as I did.
censorshipsucks 3 years ago
This is the same as parents who beat their kids. I predict that the venn diagram of parents who beat their kids and citizens who oppose debt forgiveness will be the same.
Mrs. Jan Glass 3 years ago (edited)
Ah, you mean the ones who think that there is a difference between "a little swat/pop" and "hitting"? (In case you didn't see the discussion, BPs, the point is all hitting is hitting, and there is no un-harmful way to strike a child that does not cause profound psychological damage.)
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Max Robitzsch 3 years ago
And #3 - I had to go through something maybe half as bad, so I'll argue you should be fine because I have no perspective.
Scott Rackley 3 years ago
Better, (1) people that pay their contractual debt; (2) people who get other people to pay their contractual debt
Kevin Camp 3 years ago
Add this to Item #2, ", so you will never learn anything, will continue to make the same life damaging mistakes and you will always demand someone else sacrifice to bail you out."
#5
Megan Curl 3 years ago
And let’s remember that, in most cases, 10K is not nearly paying off the entire debt. It’s just making it a little less burdensome. Regardless of political affiliation, this is just a good idea.
Leo Domitrix 3 years ago
Exactly! it reduces the principle, and helps with the minimum payment. This is not bad.
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Agnes Jekyll 3 years ago
If they cannot contribute to the society, or the market (buying a house, buying a car, buying clothes or food), or they cannot afford education, the entire society suffers. I've never understood why student dept is taxed at a higher rate than other kinds of loans.
Pirates of Zen Pants 3 years ago (edited)
That IS huge. It took me until age 30 to pay off my student loans! If I had paid off just the minimum per month, I'd still be in debt decades later, because the balance would have kept increasing.
Mikey Kliss 3 years ago
That is truely huge. My debt (preforgiveness) is 66K. I remember when signing up for the income driven play that they said I'd pay around 100K before I was done
Adam Forwood 3 years ago
Wow, didn't know about this part and yes, this is likely way more important than the forgiveness. I've heard so many horror stories of people paying tens of thousands of dollars and being no better off than when they started.
#6
Laika-Mutton 3 years ago
Had someone tell me this. I said, "Yes, I know! Because before the war, they had all this money and were just giving it away to poor Americans." I think he figured out it was sarcasm.
Trond Øien 3 years ago (edited)
Hypocrisy is often the most prominent feature of "conservatives". It's always opposite day with these people. Yes to No and No to Yes basically sums it up.
censorshipsucks 3 years ago
it's not that simple... if it involves f*****g over poor people, they will say yes. If it involves supporting rich people, they will say yes. If it involves the rich helping the poor, they will say no. Perfectly consistent, just assholery.
Load More Replies... Mrs. Jan Glass 3 years ago
I've been hearing my Conservative relatives complain about this for decades. Several uncles were making this point about Band Aid/Live Aid when it happened in 1985, even: "We should be helping our own, not sending away money to foreign countries! We have starving people in America!" Great, let's see what programs can help them, too- "NO, NOT LIKE THAT!" Nothing's changed.
Stephanie A Mutti 3 years ago
When my neighbor has less debt, my neighborhood is better. It's a win for everyone.
In his remarks, Biden said that 95% of borrowers, or about 43 million people, would benefit from these actions. Of those, over 60% are Pell Grant recipients — that’s around 27 million people who will get $20,000 in debt relief.
Altogether, nearly 45% of borrowers would have their debt fully canceled: "That’s 20 million people who can start getting on with their lives," Biden said.
"All of this means people can start to finally crawl out from under that mountain of debt to get on top of their rent and their utilities, to finally think about buying a home or starting a family or starting a business."
#7
frog 3 years ago (edited)
Yes! I am so fecking tired of living in a country full of selfish assholes. Why are people so against helping each other?
Jerry Peters 3 years ago
It's called owning up to what you signed up for. No one made anyone sign anything.
Load More Replies... Katy McMouse 3 years ago
If we don't figure out this mess our country is in, we very well might be rebuilding this country from the ground up and I'm not sure, at this point, if that would be a bad thing.
Enlee Jones 3 years ago
Ya know, the United States is unique among first world countries in that it has been circling the drain for so long that anyone who isn’t Jeff Bezos or Elon Musk are so used to being treated like trash that they have absolutely zero expectation of the government making their lives any better. So when the government finally gets off its butt and does something that will actually help millions of people, like…oh, I don’t know, canceling some student debt, there’s still going to plenty of people who just can’t grasp the concept of the government doing something good for a change, so they are out there stomping their feet, shaking their fists at the sky and screaming “HOW DARE YOU!!!”
Jerry Peters 3 years ago
And just where is this money coming from to forgive the student loans? The US taxpayer. The borrower agreed to pay loans back; the average taxpayer did not.
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Abner_Mality 3 years ago
But this nation (USA) was built on oppression and blaming others in your strata (keeps you from rebelling against power). Very difficult to change that mindset, but I (m58) have hope for this new generation they might just pull it off!
#8
Trond Øien 3 years ago
The White House actually posted a lot of these on the official WH twitter account. For more: https://www.palmerreport.com/analysis/president-joe-biden-unloads-on-marjorie-taylor-greene-and-matt-gaetz-and-its-part-of-a-broader-strategy/46827/
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Pirates of Zen Pants 3 years ago
That's right! Name and shame, baby. There's no shame in getting a loan forgiven, but there is shame involved in getting a loan forgiven and working to make sure that it doesn't happen for anybody else.
Mokayokok 3 years ago
This angers me - this Country would be an entirely different, WAYYYYY BETTER in every aspect if Republicans were completely removed to every equation here, from student debt forgiveness to abortion rights to gun laws to to universal healthcare to studies of using stem cells to removing blatant corruption to healthcare - Republicans are truly the constant herpes outbreak of this Country.
Tree P 3 years ago
Republicans are the constant herpes outbreak of this country. I love this! Good one!
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DuchessDegu 3 years ago
FOUR MILLION DOLLARS LOAN????? The hell??? (yes I know it's business loan but still)
Martin Kaine 3 years ago (edited)
I'm sorry....$4.3 million in student loans? Where did he take classes? Harvard's satellite campus on the moon?
Claudia Schabe 3 years ago
PPP loans aren't student loans. Wiki-Quote: "The Paycheck Protection Program allows entities to apply for low-interest private loans to pay for their payroll and certain other costs."
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Poultry Geist 3 years ago
They need to have to pay back these loans? Bottom line they want spread this b******t it should come out of there pockets ! Piece of c**p
Why Knot 3 years ago
PPP loans were designed to be forgiven if certain criteria were met. Under the program, PPP loans can be forgiven if recipients maintain employee and compensation levels where they were before Covid and if at least 60 percent of the loan proceeds are spent on payroll costs and the rest on other eligible expenses, such as rent or utility payments. Millions of PPP loans were forgiven.
Izzy Curer 3 years ago (edited)
'Forgiveness' is a strange word for it. It implies that the debtor did something wrong. Maybe 'Mercy' would be better? Or 'Debt Amnesty'? Spitballing, here. 'Canceling'?
#9
Katy McMouse 3 years ago
Leave it to that personification of a fruit fly to bring this up. He's only mentioning it to be contrary. It would be beyond helpful to be reimbursed for even a fraction of my loans, but I'm not holding my breath.
Mrs. Jan Glass 3 years ago
How do they not get this? I suffered for 30 years to get my education. I had very little financial options, and often worked 2 jobs during the regular year, and picked up temp work during holiday breaks. It sucked. It didn't make me "work harder" or "more grateful," it meant that I'm too old to even get a decent job now that I'm done. Why would I want anyone else to go through this s**t?!
Stephanie A Mutti 3 years ago
I borrowed money with the intent to pay it back. I did pay it back. I was able to because I was lucky to have resources. I'm happy for the folks who can finally shred some of the worry.
If you’re unsure whether you need to take action to receive loan forgiveness, the U.S. Department of Education explained that nearly 8 million borrowers won’t have to lift a finger. Because the department already has relevant income data, they are eligible to receive relief automatically.
If the Department of Education doesn't have your income data (or you don't know if they do), the Administration will launch a short application for people seeking debt relief in the coming weeks. It will be available before the pause on federal student loan repayments ends on December 31st. If you would like to know when the application is available, the Department of Education says borrowers can sign up to be notified here.
#10
Pirates of Zen Pants 3 years ago (edited)
I couldn't agree more. In the U.S., we have free education until high school graduation. You used to be able to become a lawyer, say, with a high school diploma or less. (Think Abraham Lincoln.) Now the number of good jobs you can get with a high school diploma is small. A college education is required for most jobs, and the costs of that are generally all on the individual worker. I already paid off my loans, but I would rather young people not have to go through what I did.
Shari Dubs 3 years ago
So I think this is a cool fact, but you can still become a lawyer in the US without getting a degree. You just have to pass the Bar exam. Easier said than done though, I'm sure.
Load More Replies... Mrs. Jan Glass 3 years ago (edited)
I had about five things to wear for a three year period and lived off of two dollar tacos on sale, because I could either buy books for class, or food and clothes. I got maybe 5-6 hours of sleep for most of my 20s because I was working multiple jobs and squeezing in part-time classes when I could. I've been paying off loans for the majority of my adult life. Why would I want anyone else to go through that?!
Pirates of Zen Pants 3 years ago
I hear you, Mrs. Jan. I worked twenty hours a week and lived off cabbage, lentils, potatoes, and carrots. It sounds like a Monty Python skit, but my husband can verify it was real. Yes, why would we want anyone else to go through that?
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zovjraar me 3 years ago
i paid back my loans and i have no problem with others getting relief and not having to pay theirs. let's continue to make the world a better place for those that come after us.
#11
Pirates of Zen Pants 3 years ago
Yes. U.S. policy has been that poor people are "too small to win."
Load More Replies... Queen Jackson. 3 years ago
What small business is making 4.3 million dollars? I’m still not letting those posts go,
Seadog 3 years ago
Funny this is brought up. Chrysler paid back their loan. GM did not (they paid it back with stock that was worth pennies on the dollar). those banks took that money and used it to pay off C level employees. Now consider, if they had given all that money back to anyone who paid taxes, those people would've in turn paid off their mortgages (banks are saved and housing market booms thereby also creating jobs and creating income for many suppliers), pay off auto loans (the auto industry is saved by increased sales), they'd buy various luxuries (retailers benefit, jobs increase). But instead of giving money to actually save the country, they gave it to companies that already proved they can't manage it.
Patricia Donohue 3 years ago
Don't mind debt forgiveness for those who truly need some help, but please if you make 125k, then you are doing better than most of us who will have to foot the bill, for those who may chosen to go to an Ivy league school. Perhaps you should be looking at community College for the first 2 years. As well, if you choose to major in a discipline that will not afford work easily, ie: art history and no disrespect meant here as I enjoyed such classes in college, perhaps you don't need such a degree. You should not expect other people to pay for your debt. Where does it end then? There should be caps placed on how much universities can charge. Did you know that more than 50% of the student debt is owed by graduate students. The student should be held accountable to a certain extent. If you decided to max out on student debt and chose not to work, that's your decision and your right. Should I expect you to pay for my loan on a Tesla when I could have bought a Toyota with no loan.
#12
TheQueenZ 3 years ago
It's #3 that makes me smile. I'm happy there are still good, unselfish people in this country.
Tamra 3 years ago
Spending FIFTEEN years of your life working to pay for an education that should be free is appalling.
Mrs. Jan Glass 3 years ago (edited)
This is why I didn't do my PhD in America. It was more cost-effective to go overseas, even with all of the other costs. I had universal healthcare, public transportation, free museums, got paid for my work supervising students, and had reasonable breaks that we were meant to use. I have friends in the States who had started before me, and who were still TAing and trying to finish their dissertation after I'd already done mine, because American PhD students spend all their time on teaching, marking, and admin to pay for their programs.
Load More Replies... Jon Steensen 3 years ago (edited)
yeah I have always wondered about the logic of the trickle down effect. Apearantly giving the rich more money to spend is supposed to be a good thing, as it will increase the consumption an keep the wheels turning. But as soon as you want to do the same thing by giving the poor more money, this kind of argument suddently loose all its validity. I mean who is most likely to actually spend those money and create jobs in the society: those that need the money and bring them into circulation, or is it those who already has so much money that they do not know what to spend it on, and it will therefore just increase a number in computer somerewhere. Often you here about trickle down economics, but how come no one ever mentions the trickle up effect? If you can improve the lives of those who struggle, they can become more efficient and make a greater output, which will make the nation more prosperous, instead of trapping them in evil spirals, where they have no chance of bettering their future due to lack of capital to invest for a long term benefit.
Tree P 3 years ago
Hard to call it trickle down when NOTHING trickles down!
Load More Replies... DuchessDegu 3 years ago
I don't even like other people, but I'm all for whatever makes their lives easier!
Nicole Weymann 3 years ago
Decreasing misery all round can't be a bad thing, even if it's just because one doesn't hate people enough to punish innocents for one's own unenthusiastic view on humanity
Load More Replies... Nicole Weymann 3 years ago
...and she paid EARLY. Imagine studying medicine because you want to help people and amassing enough debt that you have to work for some corporation (like an insurance company, for example, cheating people out of treatments they need) for 20 years before you can actually do the job you studied for. Imagine the stamina you need for that race.
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Big Chungus 3 years ago
That is what I don't understand that others complaining do not get, it will give a small boost to the local economy
Recently, the term "student loan crisis" has become familiar across the U.S. Over 40 million Americans are in debt for their education, owing a cumulative $1.7 trillion. Skyrocketing higher education costs coupled with stagnant wages have historically outpaced inflation in recent decades, as well as caused the amount of student debt to soar. The mean average balance today is over $30,000, up from around $12,000 in 1980.
#13
Katy McMouse 3 years ago
This infuriates me. Every one of these asss wipes deserves to have their name, face and amount forgiven, on billboards throughout their constituency and all over their state.
Pirates of Zen Pants 3 years ago
These weren't student loans. Believe me, these folks are not that educated. They were Paycheck Protection Loans. The idea behind them was that they would allow business owners to keep employees on the payroll during Covid. In reality, they enriched some of these bozos by up to 4.3 million.
Load More Replies... Seadog 3 years ago
Congress shouldn't be paid a dime to begin with. Until they stop sending trillions to our enemies and gets our country out of debt, no elected official should get anything but room and board. And under no circumstance should they ever get any benefits the rest of us get. They should not be above the law but that's where they've placed themselves.
#14
Pirates of Zen Pants 3 years ago
I've got a dumptruck full of YES, and I'm driving it down to this guy's house.
#15
Shane S 3 years ago
This seems a bit excessive. $10k is a drop in the bucket- even for community college. It will help people, no doubt, but I don’t think it is affecting the future that much…
Cyndielouwhoo 3 years ago
You may know school is expensive, but you're clearly out of touch with what kind of financial burden this puts on folks over their lifetime or you wouldn't be so dismissive of the positive impact. This is a game changer for millions of hard-working, dedicated Americans.
Load More Replies...Although the president had been pushed by Democrats and advocates to deliver deeper relief and cancel $50,000 or more per person as up to $20,000 won’t please everyone, he had repeatedly expressed reluctance to wipe out that much debt. That amount of relief would add up to more than $900 billion and would leave 80% of student loan borrowers no longer owing anything. But that large amount is more likely to be met with political attacks and legal challenges, higher education expert Mark Kantrowitz told CNBC.
"The biggest criticism of forgiving $50,000 is that it provides forgiveness for borrowers who are capable of repaying their own student loans," Kantrowitz said and added it’s usually people with multiple degrees who owe the most. "Republicans, who largely oppose student debt forgiveness, are also less likely to challenge a lower amount of forgiveness simply on the cost factor," he explained.
#16
Pirates of Zen Pants 3 years ago
“If you lend money to any of my people with you who is poor, you shall not be like a moneylender to him, and you shall not exact interest from him." Who said that? Oh, right: the Biblical God. Exodus 22:25, y'all.
Jordi Sharpe 3 years ago
"But article 14, section 43 of the Big Book of Business B******t clearly states that interest is good!"
Load More Replies... Mrs. Jan Glass 3 years ago
You cannot be an American Conservative AND claim to love/follow Jesus. The two are incompatible at this point.
Peter Smith 3 years ago
Jesus spoke to these uncaring ‘Chistians’ when he said ‘On that day many will say to me, ‘Lord, Lord, did we not prophesy in your name, and cast out demons in your name, and do many mighty works in your name?’ And then will I declare to them, ‘I never knew you; depart from me, you workers of lawlessness.’
Nikki Sevven 3 years ago
Jesus literally died for YOUR sins. He should've just let y'all go to Hell, right?
Debi Gallagher 3 years ago
I do not understand why fellow " Christians" are angry over student loans being forgiven.
#17
Bender Bending Rodríguez 3 years ago
I am so sorry. I feel your pain and I understand your frustration but you have to understand trying to wipe private loans will never work. Companies that hold private loans will hold it up in court and no one will get anything. This is at least one step forward in right direction.
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#18
censorshipsucks 3 years ago
*"ghoul" is too kind, the word you are looking for is "republican".
Pirates of Zen Pants 3 years ago
Thumbs up to this guy. My country spent $2.3 trillion on a war in Afghanistan. We can't spend any money on educating our own people? Why in the blazing heck not?
But as it turns out, the amount of forgiveness does not matter, as the plan still received backlash from Republicans and certain people who already paid their loans or never even borrowed because they saved up in advance, worked their way through college, or simply didn’t go there. In the past few days, Biden’s plan has triggered an avalanche of criticism from Republican lawmakers, the GOP, and a handful of Democratic moderates.
The plan "would unnecessarily provide tens of thousands of dollars to many high-income households in a way that goes well beyond even what he promised in the heat of a Democratic primary when the problem facing the country was low inflation — not high inflation," Jason Furman, a Harvard economist and former top economist for President Barack Obama, told The New York Times. And the Republican National Committee even released a statement blasting the program as "Biden’s bailout for the wealthy."
#19
Andi 3 years ago
Wasn't that the Christ that turned out the moneylenders ? asking for a friend .....
Pirates of Zen Pants 3 years ago (edited)
Good question. Dude threw the moneylenders out of the temple, protected a prostitute from being stoned to death, told people to love their neighbors, and gave 5,000 people free lunch. If my Republican Dad had met him on the street, he would have nailed him to a cross himself.
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#20
Pirates of Zen Pants 3 years ago
Good for her! Who knows what she'll do once she has financial freedom? Once all her cash is not being diverted to loans, she may be able to find a better housing situation, get a car, have a kid. Wouldn't it be better for all of us if our neighbors were able to pursue their life goals without chains around their ankles?
Pirates of Zen Pants 3 years ago
Laughing my butt off at the person downvoting this! I've lived in a few different countries, and only in my home country have I seen people hate their fellow citizens so much that they actually want them to be miserable. I hope you feel better soon, darlin'.
Load More Replies... #21
Seadog 3 years ago
Think about this. debt forgiveness means the lenders are out of that money. They will not be paid off but instead have to write it off. Debt forgiveness then shows as income that year for the individual. That is how debt forgiveness really works. Now if you know anything about business, pretend you're the lender and someone just told you to write off millions that's owed to you. Now, how do you feel? How long are you going to stay in business unless you can make up that money? So now you increase your rates and fees. Now who is really paying the price? Want to forgive student debt? Fine, all colleges become Government owned and education is free to any citizen. Take the money for all of this out of the money they so freely send to other countries beginning with those who oppose us. Also let our overpaid politicians fund it.
In response, The White House caused a stir on Twitter when they used Paycheck Protection Program (PPP) loan forgiveness to clap back at criticism, with Biden saying, "No one complained that those loans caused inflation." This program was created in March 2020 and aimed to keep employees of small businesses’ payrolls during the early days of the pandemic.
#22
Inigo Montoya 3 years ago
I'm not the biggest fan of the guy, but I do like that he says things like this publicly. Plus, I honestly would have voted for a trained monkey to be president over the orange fűćkboy.
Mama Penguin 3 years ago
Hell, I would have voted for an untrained monkey to be president over that Cheeto.
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P. Mozzani 3 years ago
We also need to thank Dr. Jill Biden, an educator with a heart. She was the push behind the POTUS's decision. Brava, Dr. Biden!
Gemma jones 3 years ago
Is he going to make Healy care available to every one and stop the corrupt health insurances
Melissa 3 years ago
Obamacare was a step in the right direction. If it weren't for GOP obstruction we could achieve proper healthcare reform.
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Pirates of Zen Pants 3 years ago
This is true. If you accept public aid as a poor person (think "grocery money to feed your kids during a rough patch"), you're treated like a parasite. If you get infinitely more public aid as a rich person (think "having your bank bailed out"), you're treated like a genius businessman. It's got to stop.
Freya the Wanderer 3 years ago
The Rev. Dr. Martin Luther King, Jr. said that America has "socialism for the rich" and "rugged free enterprise for the poor."
#24
Randy Klefbeck 3 years ago
Fine. They get foreclosed upon their collateral with interest first, on what they had forgiven.
Brian Irby 3 years ago
What this doesn't take into consideration was that the PPP money went to keep people employed during a time that their businesses were shuttered during the pandemic. If the above took the money for themselves and didn't distribute it to their employees, they had to pay it back. So, not exactly the same thing.
For example, The White House Twitter account reminded Congresswoman Marjorie Taylor Greene, a frequent Biden critic, that she was once a recipient of the PPP and was forgiven $183,504 in loans. Each Republican who criticized Biden’s student loan forgiveness plan felt the heat from the White House.
"I will never apologize for helping America’s middle class — especially not to the same folks who voted for a $2 trillion tax cut for the wealthy and giant corporations that racked up the deficit," Biden wrote on Twitter Thursday.
Our team here at Bored Panda is curious — what do you think of this long-awaited plan? Has it changed your life in any way? Or do you believe there's much more that still needs to be done? Be sure to tell us where you stand on the matter in the comments, we’d love to hear from you.
#25
Trond Øien 3 years ago
Indeed. The malice is a feature not a bug at this point.
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Seadog 3 years ago
And how many businesses suffered and/or failed because those funds that were supposed to be for the little man got latched up by corporations that didn't need them to survive? Local business applied for everything that came along, Local, state and federal. Got nothing. Not one red cent. Finally had to take out a loan to survive because the pandemic actually added expenses to the business. That loan is not only NOT interest free but must be paid back.
#26
Big Chungus 3 years ago
I pay a lot of taxes every year and feels like finally I am getting something worth my taxes
ReggieTx 3 years ago
And you think we don't pay taxes? I didn't agree to pay back Republican business loans, but they were forgiven. I've BEEN paying my loans for the past 18 years and they're still not paid off because, oh, you know food and shelter, etc. I don't even have $10000 left that I owe, but if I can get rid of it faster, I'm not going to pass on that. And you don't think the money I'm saving each month on loan payments isn't going to go to other things? Like back into the economy? Don't be so selfish and think before you spout nonsense.
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Mrs. Jan Glass 3 years ago
As I mentioned in today's "Toxic Professors" thread, a lot of this is about people just not understanding university/college, for whatever reasons. We usually get paid a flat rate for a taught course, and all of our prep and marking is on our own time. I spent over 40+ unpaid hours this summer building a syllabus for a class that was canceled a week before it was supposed to start. Now, not only do I not get paid for creating the course syllabus, I don't get paid at all this term. America treats educators like we are the dregs of society. If our country does not value education, it's already over.
#28
Bender Bending Rodríguez 3 years ago
That's the normal Jesus you're talking about. American Conservative Jesus would take the bread and fish, make tiny pieces of it, slap a brand "Blessed", and sell it to hungry for more than the price of whole loaf/fish.
Manny_Flawz 3 years ago
Also, he would give it to the wealthy for free because they "Create Jobs"
Load More Replies... Debi Gallagher 3 years ago
Probably the same church people who don't want food pantry in their church becuz of the type of people it might attract and "what if they use it and don't need it?" "What if drug addicts come?"
#29
Jerry Mathers 3 years ago
I don't mind if my taxes go up to pay for student debt, food and shelter programs, healthcare for all, roads, anything that benefits society. What I do mind my taxes going for is filling shortages in government income due to tax cuts /.under taxing the wealthy and businesses, legal fees that states use to defend dumb laws like "in god we trust" signs, subsidies to oil companies, and helping Texas every couple of years because those dummies keep doing stupid stuff like cutting government services, unhooking from the national power grid, and legislating the stupid religious beliefs.
XenoMurph 3 years ago
I think student loans should be forgiven, but I think this might be a wrong statement. Stopping the continual repayments because the loans have been forgiven will reduce govenrment income, so it MIGHT increase taxes marginally.
Tamra 3 years ago
This is more a reflection of how the government manages the money it gets from its citizens. The budget for the military for just this year is over 700 billion dollars - how about shifting 2 billion from that to offset these loans? How about setting realistic and fair taxation on the Uber wealthy and corporations? The government gets more than enough money from the citizens, it needs to do a better job of allocating it.
Load More Replies... #30
Remi (He/Him) 3 years ago
No ointment for free for the GOP! They don't believe in universal healthcare after all
Load More Replies... Trond Øien 3 years ago (edited)
They have to try and "sell" it as a negative thing because they know voters across the board will see it as a positive thing. This is their only playbook and it has been for decades. It's getting really old imo.
James016 3 years ago
I would have thought MGT would have made a fortune from her Jewish Space Lasers.
Jordi Sharpe 3 years ago
I know she's an idiot, but she would have been an absolute fool to not have that trademarked.
Load More Replies... Melissa 3 years ago
Apparently they want to get rid of the FBI too. I thought they wuvved law enforcement!
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#31
Mama Penguin 3 years ago
Jim Jordan doesn't know logic even if it hits him in the face with full force. Why would wealthy elites have student loans? Some of those wealthy elite kids get into Ivy League schools only because daddy and mommy donate millions to the school.
#32
Jerry Peters 3 years ago
No one WANTS anyone to suffer...what we want is for people to live up to their word. If they voluntarily signed up for the loans they should pay them back.
Freya the Wanderer 3 years ago
Just because my house has never been destroyed by a fire, or a tornado, or a hurricane, or an earthquake means I begrudge people who lost their homes in disasters getting help from the government - or any NGO.
#41
Mama Penguin 3 years ago
Such c**p coming from her. Look in the mirror before you speak, Marjorie.
#42
Freya the Wanderer 3 years ago
You have over three times as much to pay as you borrowed? That is f#####g CRIMINAL! It is usury, plain and simple! The greedy slimewads who allow interest to balloon like this should all be arrested, charged, tried, convicted, and sentenced to life in prison without parole.
#46
Bella V 3 years ago
Exactly and it needs to be federal loans too. I just realized most of mine were "private" they USED to be federal and in my VERY early 20's I got bamboozled into consolidation and they became private. Such c**p. Wipe out private AND Federal entirely. Then make education free. What's next paying for elementary / high school???
#51
Inigo Montoya 3 years ago (edited)
This is such bullśĥìt. I don't have student loans, as I never attended college. But between my wife and I, we make very good money. With a mortgage, 2 vehicle payments, insurance, 2 kids in daycare, day to day expenses, and all the little things you have to do to live we don't have much left over. 10,000 dollars off of one of my debts would be amazing and I would never discredit someone for taking advantage of an opportunity to better themselves in anyway possible.
Mama Penguin 3 years ago
This doesn't take into account people who have other debts like mortgage, car payments, medical debts, etc.
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What do you think ?
Laika-Mutton 3 years ago
There's a difference between investing money and spending it. If people have affordable healthcare and affordable education they will be healthier, more productive, less stressed, and more educated to get higher-paying jobs. They will have income to spend back into the economy, and make the economy stronger. How is this a difficult concept?? A strong middle-class benefits the entire country!
Louloubelle 3 years ago
This quote is sometimes attributed to Thomas Jefferson "An educated citizenry is a vital requisite for our survival as a free people." And I think it goes to what you've said here. Our people are our investment in the future. But the fat, cat, old rich white guys don't want educated people. God forbid we have citizens thinking for themselves.
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Nikki Sevven 3 years ago
Now, on to free public college, because I'd like to live in a country of educated people.
Leo Domitrix 3 years ago
Studnet loans in the US are a profiteering nightmare. Educated healthy people with spare cash make a strong nation. I'm glad they're getting a break.
Agnes Jekyll 3 years ago
People who have suffered empathize for others who are suffering. These people complaining about debt reduction have rarely, if ever, gone without, or suffered, or even worked for what they have.
J 3 years ago
Oddly, there’s an exception to that. Human brains are programmed to desensitize our recall of particularly bad experiences, which leads some to have less empathy for struggles they’ve personally endured. There’s an older NYT article about it somewhere… I’ll look for it.
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Powerful Katrinka 3 years ago
All these Republicans frothing at the mouth about loan forgiveness, while worshipping a man who declared bankruptcy FIVE times to avoid paying his debts. If the GOP didn't have hypocrisy and cruelty, they'd have nothing at all.
ADHORTATOR 3 years ago
My son is studying his last year at an american University, this one year costs us 30.000 $...the first three years in France and Germany were at 1.200 $., 400 $ per year.... The University wanted to charge 2.400 $ for Healthcare but we declined, we are Europeans and my son has healthcare for free....
Casey Payne 3 years ago
Meanwhile, all the opinion sections of right/center leaning news sources have been whining for months before all of this. The worst I found so far was the Wall Street Journal. They had a grandfather complaining that his grandson - who wasn't even in college yet - would be screwed over by the student loan forgiveness. I was like, how? Not even in college yet and he was going to be ruined because he works for his money? I don't know, he never connected those two items other than his grandson works hard and it's unfair that other people get loan forgiveness.
Laika-Mutton 3 years ago
There's a difference between investing money and spending it. If people have affordable healthcare and affordable education they will be healthier, more productive, less stressed, and more educated to get higher-paying jobs. They will have income to spend back into the economy, and make the economy stronger. How is this a difficult concept?? A strong middle-class benefits the entire country!
Louloubelle 3 years ago
This quote is sometimes attributed to Thomas Jefferson "An educated citizenry is a vital requisite for our survival as a free people." And I think it goes to what you've said here. Our people are our investment in the future. But the fat, cat, old rich white guys don't want educated people. God forbid we have citizens thinking for themselves.
Load More Replies... Nikki Sevven 3 years ago
Now, on to free public college, because I'd like to live in a country of educated people.
Leo Domitrix 3 years ago
Studnet loans in the US are a profiteering nightmare. Educated healthy people with spare cash make a strong nation. I'm glad they're getting a break.
Agnes Jekyll 3 years ago
People who have suffered empathize for others who are suffering. These people complaining about debt reduction have rarely, if ever, gone without, or suffered, or even worked for what they have.
J 3 years ago
Oddly, there’s an exception to that. Human brains are programmed to desensitize our recall of particularly bad experiences, which leads some to have less empathy for struggles they’ve personally endured. There’s an older NYT article about it somewhere… I’ll look for it.
Load More Replies... Powerful Katrinka 3 years ago
All these Republicans frothing at the mouth about loan forgiveness, while worshipping a man who declared bankruptcy FIVE times to avoid paying his debts. If the GOP didn't have hypocrisy and cruelty, they'd have nothing at all.
ADHORTATOR 3 years ago
My son is studying his last year at an american University, this one year costs us 30.000 $...the first three years in France and Germany were at 1.200 $., 400 $ per year.... The University wanted to charge 2.400 $ for Healthcare but we declined, we are Europeans and my son has healthcare for free....
Casey Payne 3 years ago
Meanwhile, all the opinion sections of right/center leaning news sources have been whining for months before all of this. The worst I found so far was the Wall Street Journal. They had a grandfather complaining that his grandson - who wasn't even in college yet - would be screwed over by the student loan forgiveness. I was like, how? Not even in college yet and he was going to be ruined because he works for his money? I don't know, he never connected those two items other than his grandson works hard and it's unfair that other people get loan forgiveness.
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