Biden To Forgive $10k In Student Loans (3 Viewers)

[sho nuff]

@quick-hands since your question was about this by Biden…replying here rather than that thread.

Why Im against it? Cost being a big reason and that it really doesn’t address the underlying issue with the cost of college.
If I were to support some sort of secondary education effort it would be along the lines of the program here in TN that will pay for 2 years of community college (Tennessee Promise). Or a form of that and/or trade schools. Gives people who may not be able to afford it a good base of a college education after high school or start on prep for a career.

so it's just cuz he isn't doing it right and you are not bothered that he doesn't have the authority. ok. gotcha. at least football is on.

That is not at all what I said…not sure why you tried to change it…but whatever.

 

[Snotbubbles]

So I've been doing some digging on the loan forgiveness. Because my federal loans were taken out prior to 2010 I had what is called a FFEL loan. Those loans are currently not eligible for forgiveness or deferment because they were consolidated by private companies are serviced by them, I have American Education Services. They are still considered "Federal Loans" because they are guaranteed by the government and if they go in default they get transferred to the government, The FFEL loans being serviced by private companies aren't eligible for deferment either. In 2010 the Federal Government began giving out and servicing the loans so those are all forgivable. So after doing some research here is what I did as a work around:

1. I created an account on studentaid.gov - the account uses your social security number and pulls up your loan records associated with your social security number. Then studentaid.gov shows you the type of loan(s) you have to see if you are eligible for loan forgiveness. The site even tells you if you received a PELL Grant.

2. The next thing I did was do a direct loan consolidation on the studentaid.gov site to consolidate the loans being serviced by AES and to have the Department of Education give the consolidation loan to now be serviced by Great Lakes. They are now eligible for the Federal Government to provide forgiveness. They take a blended rate on what your loans interest rates were. It was really easy, took about 5 minutes. Just waiting for Great Lakes to process.

3. When I did the direct loan consolidation I did the standard repayment but all the different types of repayments had a 300 month repayment schedule (I only had 144 payments left) so that was the downside, I would have preferred a 120 month repayment period. The upside was my monthly payment went from $492.54 to $200 and I am also able to defer the loan payments for the rest of the year plus I can now get the $20,000 forgiveness if it doesn't get shot down in court.

 

[parasaurolophus]

Sorry if posted already, but this article is crazy town. Yikes

 

[tuffnutt]

thank you for the info

So I've been doing some digging on the loan forgiveness. Because my federal loans were taken out prior to 2010 I had what is called a FFEL loan. Those loans are currently not eligible for forgiveness or deferment because they were consolidated by private companies are serviced by them, I have American Education Services. They are still considered "Federal Loans" because they are guaranteed by the government and if they go in default they get transferred to the government, The FFEL loans being serviced by private companies aren't eligible for deferment either. In 2010 the Federal Government began giving out and servicing the loans so those are all forgivable. So after doing some research here is what I did as a work around:

1. I created an account on studentaid.gov - the account uses your social security number and pulls up your loan records associated with your social security number. Then studentaid.gov shows you the type of loan(s) you have to see if you are eligible for loan forgiveness. The site even tells you if you received a PELL Grant.

2. The next thing I did was do a direct loan consolidation on the studentaid.gov site to consolidate the loans being serviced by AES and to have the Department of Education give the consolidation loan to now be serviced by Great Lakes. They are now eligible for the Federal Government to provide forgiveness. They take a blended rate on what your loans interest rates were. It was really easy, took about 5 minutes. Just waiting for Great Lakes to process.

3. When I did the direct loan consolidation I did the standard repayment but all the different types of repayments had a 300 month repayment schedule (I only had 144 payments left) so that was the downside, I would have preferred a 120 month repayment period. The upside was my monthly payment went from $492.54 to $200 and I am also able to defer the loan payments for the rest of the year plus I can now get the $20,000 forgiveness if it doesn't get shot down in court.

thank you this info! I am in the same boat as you with the FFEL loans.

 

[John123]

Biden thinks his loan forgiveness was a law he signed:

https://twitter.com/jacobkschneider/status/1584346085765525504?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1584346085765525504%7Ctwgr%5E21d21449a46bb7bcfd13c0068747cfc015cf29df%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.breitbart.com%2Fpolitics%2F2022%2F10%2F23%2Fbiden-says-passed-student-loan-bailout-congress-never-voted%2F

 

[quick-hands]

Biden thinks his loan forgiveness was a law he signed:

https://twitter.com/jacobkschneider/status/1584346085765525504?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1584346085765525504%7Ctwgr%5E21d21449a46bb7bcfd13c0068747cfc015cf29df%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.breitbart.com%2Fpolitics%2F2022%2F10%2F23%2Fbiden-says-passed-student-loan-bailout-congress-never-voted%2F

that's because he doesn't know anything about the forgiveness. somebody told him it was happening so he went with it. he probably assumed it a law.

 

[Stealthycat]

Biden thinks his loan forgiveness was a law he signed:

https://twitter.com/jacobkschneider/status/1584346085765525504?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1584346085765525504%7Ctwgr%5E21d21449a46bb7bcfd13c0068747cfc015cf29df%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.breitbart.com%2Fpolitics%2F2022%2F10%2F23%2Fbiden-says-passed-student-loan-bailout-congress-never-voted%2F

he's trying to generate some votes for Democrats .... but geeesh he stumbles through everything he says doesn't he? Stumbles, loses train of thought, says things wrong, pauses and rolls eyes or stares into the distance ....

 

[Snotbubbles]

Biden thinks his loan forgiveness was a law he signed:

https://twitter.com/jacobkschneider...ed-student-loan-bailout-congress-never-voted/

he's trying to generate some votes for Democrats .... but geeesh he stumbles through everything he says doesn't he? Stumbles, loses train of thought, says things wrong, pauses and rolls eyes or stares into the distance ....

The problem with student loan forgiveness is there isn't even partisan support for it so as a vote generating tactic it isn't worth it.

 

[parasaurolophus]

Biden thinks his loan forgiveness was a law he signed:

https://twitter.com/jacobkschneider/status/1584346085765525504?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1584346085765525504%7Ctwgr%5E21d21449a46bb7bcfd13c0068747cfc015cf29df%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.breitbart.com%2Fpolitics%2F2022%2F10%2F23%2Fbiden-says-passed-student-loan-bailout-congress-never-voted%2F

that's because he doesn't know anything about the forgiveness. somebody told him it was happening so he went with it. he probably assumed it a law.

He probably hears "sign this" 10 times a day and is never told what he is even signing so he just assumed this must have been in the stack.

I do love this guy. Very entertaining. Its just too bad Trump blew Georgia for us all. Would have been dream scenario. Goofball as president and a paralyzed legislature. Endless comedy, no fear of stupid legislation.

 

[Max Power]

"It passed by a vote or two"

Biden a liar or just incompetent? Probably both

 

[FairWarning]

"It passed by a vote or two"

Biden a liar or just incompetent? Probably both

His lies are for the good of the people

- Tim S

 

[Max Power]

"It passed by a vote or two"

Biden a liar or just incompetent? Probably both

His lies are for the good of the people

- Tim S

Joe Biden's America is a trainwreck.

 

[FairWarning]

"It passed by a vote or two"

Biden a liar or just incompetent? Probably both

His lies are for the good of the people

- Tim S

Joe Biden's America is a trainwreck.

I expect the get tough on crime talk to pick up this week also. Maybe he’ll tell a story about dressing up as a cop for Halloween.

 

[Max Power]

"It passed by a vote or two"

Biden a liar or just incompetent? Probably both

His lies are for the good of the people

- Tim S

Joe Biden's America is a trainwreck.

I expect the get tough on crime talk to pick up this week also. Maybe he’ll tell a story about dressing up as a cop for Halloween.

Knowing Joe Biden he probably spent a summer interning as a police officer where he met a minority who had it rough and changed their life.

 

[Sand]

Biden thinks his loan forgiveness was a law he signed:

https://twitter.com/jacobkschneider/status/1584346085765525504?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1584346085765525504%7Ctwgr%5E21d21449a46bb7bcfd13c0068747cfc015cf29df%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.breitbart.com%2Fpolitics%2F2022%2F10%2F23%2Fbiden-says-passed-student-loan-bailout-congress-never-voted%2F

that's because he doesn't know anything about the forgiveness. somebody told him it was happening so he went with it. he probably assumed it a law.

He probably hears "sign this" 10 times a day and is never told what he is even signing so he just assumed this must have been in the stack.

We've seen this before.

 

[Leeroy Jenkins]

What sucks is I have been paying off my six-figure debt for like 20 years, and these last two years I made some good money and don't get to participate in the forgiveness. What about all of the years I didn't make bank but still paid my debt??

 

[Stealthycat]

What sucks is I have been paying off my six-figure debt for like 20 years, and these last two years I made some good money and don't get to participate in the forgiveness. What about all of the years I didn't make bank but still paid my debt??

you're screwed

but question really is - who are you going to vote for to stop this kind of non-sense now and in the future? we know what Biden/Democrats want to do, don't we ?

 

[the moops]

Biden thinks his loan forgiveness was a law he signed:

https://twitter.com/jacobkschneider/status/1584346085765525504?ref_src=twsrc^tfw|twcamp^tweetembed|twterm^1584346085765525504|twgr^21d21449a46bb7bcfd13c0068747cfc015cf29df|twcon^s1_&ref_url=https://www.breitbart.com/politics/2022/10/23/biden-says-passed-student-loan-bailout-congress-never-voted/

he's trying to generate some votes for Democrats .... but geeesh he stumbles through everything he says doesn't he? Stumbles, loses train of thought, says things wrong, pauses and rolls eyes or stares into the distance ....

The problem with student loan forgiveness is there isn't even partisan support for it so as a vote generating tactic it isn't worth it.

Every poll has democrats approving of loan forgiveness by like 75% or more.

 

[Sand]

What sucks is I have been paying off my six-figure debt for like 20 years, and these last two years I made some good money and don't get to participate in the forgiveness. What about all of the years I didn't make bank but still paid my debt??

I wouldn't worry about it. Once someone establishes standing this executive order will be set aside by the courts. Right now this is phantom money, soon to be non-existent money.

 

[Sand]

Biden thinks his loan forgiveness was a law he signed:

https://twitter.com/jacobkschneider/status/1584346085765525504?ref_src=twsrc^tfw|twcamp^tweetembed|twterm^1584346085765525504|twgr^21d21449a46bb7bcfd13c0068747cfc015cf29df|twcon^s1_&ref_url=https://www.breitbart.com/politics/2022/10/23/biden-says-passed-student-loan-bailout-congress-never-voted/

he's trying to generate some votes for Democrats .... but geeesh he stumbles through everything he says doesn't he? Stumbles, loses train of thought, says things wrong, pauses and rolls eyes or stares into the distance ....

The problem with student loan forgiveness is there isn't even partisan support for it so as a vote generating tactic it isn't worth it.

Every poll has democrats approving of loan forgiveness by like 75% or more.

Every day the Democrat Party becomes less and less the party of the working man.

 

[Snotbubbles]

Biden thinks his loan forgiveness was a law he signed:

https://twitter.com/jacobkschneider/status/1584346085765525504?ref_src=twsrc^tfw|twcamp^tweetembed|twterm^1584346085765525504|twgr^21d21449a46bb7bcfd13c0068747cfc015cf29df|twcon^s1_&ref_url=https://www.breitbart.com/politics/2022/10/23/biden-says-passed-student-loan-bailout-congress-never-voted/

he's trying to generate some votes for Democrats .... but geeesh he stumbles through everything he says doesn't he? Stumbles, loses train of thought, says things wrong, pauses and rolls eyes or stares into the distance ....

The problem with student loan forgiveness is there isn't even partisan support for it so as a vote generating tactic it isn't worth it.

Every poll has democrats approving of loan forgiveness by like 75% or more.

Then it would have been no problem to pass this through reconciliation or the Inflation Reduction Act.

 

[supermike80]

Biden thinks his loan forgiveness was a law he signed:

https://twitter.com/jacobkschneider/status/1584346085765525504?ref_src=twsrc^tfw|twcamp^tweetembed|twterm^1584346085765525504|twgr^21d21449a46bb7bcfd13c0068747cfc015cf29df|twcon^s1_&ref_url=https://www.breitbart.com/politics/2022/10/23/biden-says-passed-student-loan-bailout-congress-never-voted/

he's trying to generate some votes for Democrats .... but geeesh he stumbles through everything he says doesn't he? Stumbles, loses train of thought, says things wrong, pauses and rolls eyes or stares into the distance ....

The problem with student loan forgiveness is there isn't even partisan support for it so as a vote generating tactic it isn't worth it.

Every poll has democrats approving of loan forgiveness by like 75% or more.

Polls are fun!

 

[Summer Wheat]

"It passed by a vote or two"

Biden a liar or just incompetent? Probably both

His lies are for the good of the people

- Tim S

Joe Biden's America is a trainwreck.

I expect the get tough on crime talk to pick up this week also. Maybe he’ll tell a story about dressing up as a cop for Halloween.

Knowing Joe Biden he probably spent a summer interning as a police officer where he met a minority who had it rough and changed their life.

The minority probably hung out with the good basketball players on the east side of town, then Joe took him to Dunkin Doughnut's and ordered with an Indian accent.

 

[Zow]

What sucks is I have been paying off my six-figure debt for like 20 years, and these last two years I made some good money and don't get to participate in the forgiveness. What about all of the years I didn't make bank but still paid my debt??

you're screwed

but question really is - who are you going to vote for to stop this kind of non-sense now and in the future? we know what Biden/Democrats want to do, don't we ?

Not Trump.

I'm yearning for a time where the GOP puts up an honorable candidate like McCain again.

 

[the moops]

Polls are fun!

Your shtick is terrible. Just don't reply to me if this is all you can muster

 

[Sand]

What sucks is I have been paying off my six-figure debt for like 20 years, and these last two years I made some good money and don't get to participate in the forgiveness. What about all of the years I didn't make bank but still paid my debt??

you're screwed

but question really is - who are you going to vote for to stop this kind of non-sense now and in the future? we know what Biden/Democrats want to do, don't we ?

Not Trump.

I'm yearning for a time where the GOP puts up an honorable candidate like McCain again.

Waiting for Tulsi?

 

[Leeroy Jenkins]

What sucks is I have been paying off my six-figure debt for like 20 years, and these last two years I made some good money and don't get to participate in the forgiveness. What about all of the years I didn't make bank but still paid my debt??

you're screwed

but question really is - who are you going to vote for to stop this kind of non-sense now and in the future? we know what Biden/Democrats want to do, don't we ?

Not Trump.

I'm yearning for a time where the GOP puts up an honorable candidate like McCain again.

Yea, I don't like the progressive leftists at all (I am a democrat), but I will never vote for Trump or anyone that supported his 2020 election fraud scheme. A Romney-type would get my vote now. Hell, I would even consider Pence, who I disagree with on almost everything, because he basically saved the country.

 

[Stealthycat]

Every poll has democrats approving of loan forgiveness by like 75% or more.

why would they approve of that ?

 

[Rubiobot]

Yea, I don't like the progressive leftists at all (I am a democrat), but I will never vote for Trump or anyone that supported his 2020 election fraud scheme.

This is where many moderates are including myself (I'm a moderate Democrat as well).

 

[Zow]

What sucks is I have been paying off my six-figure debt for like 20 years, and these last two years I made some good money and don't get to participate in the forgiveness. What about all of the years I didn't make bank but still paid my debt??

you're screwed

but question really is - who are you going to vote for to stop this kind of non-sense now and in the future? we know what Biden/Democrats want to do, don't we ?

Not Trump.

I'm yearning for a time where the GOP puts up an honorable candidate like McCain again.

Waiting for Tulsi?

I'd have been content with Romney.

 

[Zow]

Every poll has democrats approving of loan forgiveness by like 75% or more.

why would they approve of that ?

Because a large portion of the people that make up that percentage probably have student loans. So they're voting with their wallets (hard to blame them). Advanced education has also skyrocketed in price

(If unclear, I'm not personally advocating for the policy - just explaining why it's sensical that a large portion of people would).

 

[supermike80]

Polls are fun!

Your shtick is terrible. Just don't reply to me if this is all you can muster

Nope...as long as you post silly poll results like "75% of democrats support loan forgiveness" I will call them out.

 

[supermike80]

Every poll has democrats approving of loan forgiveness by like 75% or more.

why would they approve of that ?

Because a large portion of the people that make up that percentage probably have student loans. So they're voting with their wallets (hard to blame them). Advanced education has also skyrocketed in price :shrug

Gee I wonder how the question was asked... Hey mr poll guy, would you like a gift of $20,000??? Hmmm....

 

[Zow]

Polls are fun!

Your shtick is terrible. Just don't reply to me if this is all you can muster

Nope...as long as you post silly poll results like "75% of democrats support loan forgiveness" I will call them out.

Why is that a silly poll result? Do you really not think that a large majority of democrats or fiscally left of center leaning people wouldn't support loan forgiveness?

 

[supermike80]

Polls are fun!

Your shtick is terrible. Just don't reply to me if this is all you can muster

Nope...as long as you post silly poll results like "75% of democrats support loan forgiveness" I will call them out.

Why is that a silly poll result? Do you really not think that a large majority of democrats or fiscally left of center leaning people wouldn't support loan forgiveness?

Dude......it takes ore than just a number. What was asked? By whom? tc etc....Falling for these simplistic polls always leads to trouble.

 

[Sand]

What sucks is I have been paying off my six-figure debt for like 20 years, and these last two years I made some good money and don't get to participate in the forgiveness. What about all of the years I didn't make bank but still paid my debt??

you're screwed

but question really is - who are you going to vote for to stop this kind of non-sense now and in the future? we know what Biden/Democrats want to do, don't we ?

Not Trump.

I'm yearning for a time where the GOP puts up an honorable candidate like McCain again.

Waiting for Tulsi?

I'd have been content with Romney.

Voted for him a couple times.

 

[the moops]

Polls are fun!

Your shtick is terrible. Just don't reply to me if this is all you can muster

Nope...as long as you post silly poll results like "75% of democrats support loan forgiveness" I will call them out.

So should we just agree with @Snotbubbles when he says there isn't partisan support without any factual context?

Poll after poll show support for this amongst democrats. Why is this a shocking thing to you?

 

[John123]

Poll after poll show support for this amongst democrats. Why is this a shocking thing to you?

As Mike said, there's more to it than that. Feel free to post some of those polls so they can be scrutinized. Otherwise, they aren't worth anything in this discussion.

 

[Stealthycat]

Because a large portion of the people that make up that percentage probably have student loans. So they're voting with their wallets (hard to blame them). Advanced education has also skyrocketed in price

(If unclear, I'm not personally advocating for the policy - just explaining why it's sensical that a large portion of people would).

so its something Biden did to stroke the ones who have student loans and sway their vote

I agree



maybe the GOP nominee in 2024 will campaign promise to forgive $40,000 in auto and home loans if he's elected? that's be ok wouldn't it ?

 

[Rubiobot]

Because a large portion of the people that make up that percentage probably have student loans. So they're voting with their wallets (hard to blame them). Advanced education has also skyrocketed in price

(If unclear, I'm not personally advocating for the policy - just explaining why it's sensical that a large portion of people would).

so its something Biden did to stroke the ones who have student loans and sway their vote

I agree



maybe the GOP nominee in 2024 will campaign promise to forgive $40,000 in auto and home loans if he's elected? that's be ok wouldn't it ?

Why not...they campaign on tax cuts for the rich.

 

[Stealthycat]

Why not...they campaign on tax cuts for the rich.

nobody does that

try again - be honest

 

[FairWarning]

Because a large portion of the people that make up that percentage probably have student loans. So they're voting with their wallets (hard to blame them). Advanced education has also skyrocketed in price

(If unclear, I'm not personally advocating for the policy - just explaining why it's sensical that a large portion of people would).

so its something Biden did to stroke the ones who have student loans and sway their vote

I agree



maybe the GOP nominee in 2024 will campaign promise to forgive $40,000 in auto and home loans if he's elected? that's be ok wouldn't it ?

Why not...they campaign on tax cuts for the rich.

Assuming all republicans are rich

 

[Zow]

Because a large portion of the people that make up that percentage probably have student loans. So they're voting with their wallets (hard to blame them). Advanced education has also skyrocketed in price

(If unclear, I'm not personally advocating for the policy - just explaining why it's sensical that a large portion of people would).

so its something Biden did to stroke the ones who have student loans and sway their vote

I agree



maybe the GOP nominee in 2024 will campaign promise to forgive $40,000 in auto and home loans if he's elected? that's be ok wouldn't it ?

Sure, why not?


I mean, I imagine it would look something like this but it wouldn't be unlawful...

Homer Simpson doing the Trump

Back in 1998, The Simpsons episode "Trash of the Titans" showed how to win an election, Trump-style.

www.youtube.com

 

[the moops]

Why not...they campaign on tax cuts for the rich.

nobody does that

try again - be honest

They always are pitching rolling back capital gains taxes. Do you know may poor people that are excited about that tax cut?

 

[Stealthycat]

They always are pitching rolling back capital gains taxes. Do you know may poor people that are excited about that tax cut?

the people paying all the taxes will get the highest tax breaks .... that's common sense isn't it ?

 

[the moops]

They always are pitching rolling back capital gains taxes. Do you know may poor people that are excited about that tax cut?

the people paying all the taxes will get the highest tax breaks .... that's common sense isn't it ?

So you agree that they do campaign on cutting taxes?

 

[FairWarning]

They always are pitching rolling back capital gains taxes. Do you know may poor people that are excited about that tax cut?

the people paying all the taxes will get the highest tax breaks .... that's common sense isn't it ?

So you agree that they do campaign on cutting taxes?

Don’t shareholders benefit from that also? If you have a funded pension, it helps the bottom line on those also.

 

[Stealthycat]

So you agree that they do campaign on cutting taxes?

sure but not "for the rich"

the tax cuts are for people who pay into the system - if you pay $1 you won't see much ... if you pay $50,000 you're going to see more

makes sense doesn't it ?

I mean if you're going to give back gasoline would people driving the least get the bulk or the people who drive the most?


but saying the Govt is going to make taxpayers flip the bill for people who chose to take loans is absolutely idiotic .......... nobody can justify it

 

[Leeroy Jenkins]

Because a large portion of the people that make up that percentage probably have student loans. So they're voting with their wallets (hard to blame them). Advanced education has also skyrocketed in price

(If unclear, I'm not personally advocating for the policy - just explaining why it's sensical that a large portion of people would).

so its something Biden did to stroke the ones who have student loans and sway their vote

I agree



maybe the GOP nominee in 2024 will campaign promise to forgive $40,000 in auto and home loans if he's elected? that's be ok wouldn't it ?

Why not...they campaign on tax cuts for the rich.

Assuming all republicans are rich

Define rich.

 

[Snotbubbles]

What sucks is I have been paying off my six-figure debt for like 20 years, and these last two years I made some good money and don't get to participate in the forgiveness. What about all of the years I didn't make bank but still paid my debt??

you're screwed

but question really is - who are you going to vote for to stop this kind of non-sense now and in the future? we know what Biden/Democrats want to do, don't we ?

Not Trump.

I'm yearning for a time where the GOP puts up an honorable candidate like McCain again.

Waiting for Tulsi?

I'd have been content with Romney.

And I'd vote for Manchin. Those guys aren't making it out of a primary.