Biden Administration Cancels $5 Billion in Federal Student Aid for 80,000 Borrowers | Forex Factory

Biden Administration Cancels $5 Billion in Federal Student Aid for 80,000 Borrowers | Forex Factory

Biden Administration Cancels $5 Billion in Federal Student Aid for 80,000 Borrowers

From usnews.com

The Biden administration announced on Wednesday that it approved an additional $4.8 billion in federal student loan debt cancellation for roughly 80,000 borrowers. The move is the latest in a series of efforts underway at the Education Department to provide student loan debt relief to as many borrowers as possible in the wake of the Supreme Court’s decision this summer to block President Joe Biden’s sweeping debt cancellation plan. To date, the department has approved $132 billion in federal student loan debt cancellation for 3.6 million borrowers. “It’s historic,” Education Secretary Miguel Cardona told ... (full story)

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Dec 6, 2023 10:46pm

Quoting BlackLotus

Disliked

i was one of them... thank u!!!!

Ignored

Thanking the drooling idiot for spending someone else's money.

I graduated from University in 1988 right after the biggest stock/real estate market crash since the Great Depression and yet we still had to take responsibility for our actions and pay our loans back.

And now 35 years later my tax dollars get to pay back someone else's loan too.

You're welcome.

3

Dec 6, 2023 11:16pm

Quoting BlackLotus

Disliked

{quote} I repaid over 400K in 20 years for a loan that was little over 268K. I had 50K left over when it was forgiven. In our family we still have over 600K in school loans to repay. Trust me, your tax dollars don't contribute to my living as we pay over 15K in taxes monthly to this society.

Ignored

You don't deserve any loan forgiveness. You signed it you pay it. That's how it works son.

Should all of us who paid our loans back get a refund check from sleepy Joe? With 35 years of accrued interest of course

I paid 700K out of the 800K I owe on my mortgage. I guess I should call up the bank and ask them to forgive that last 100k?

3

Dec 6, 2023 11:54pm

Quoting BlackLotus

Disliked

"Sorry cupcake I come from a very poor family." Is that how you've managed to pay off more than 700K on your mortgage.? Interesting.... Moreover, why all this name calling? Also, you and I went to college at the same time. Did you make any good decisions since then? I did, I played MTGO in collage and I saved 10 Black Lotus in mint condition. Cheers Hance my name...

Ignored

How did I pay my mortgage?

Simple, I got an Electrical Engineering degree from Cornell and worked for a living.

How do you still have loans out if you went to school when I did? it's been 35 years since I graduated.

And yes I've made a lifetime of good decisions and investments.

3

Dec 6, 2023 11:26pm

Quoting BlackLotus

Disliked

Well, you probably had your daddy paid for your loan. Just like you will for your kids. Unfortunately I wasn't that lucky. Also, if you read closely whey some of these loans were forgiven is that they doubled the interest rates without giving any notice. That was my case.

Ignored

Sorry cupcake I come from a very poor family.

I did what all of us did back then. Took care of our responsibility. At least Joe bought your vote.

It's a win-win huh.

Anyway glad the taxpayers handed you 50K. You deserve it.

We're done her son

Enjoy

2

Dec 7, 2023 4:21am

Quoting Expo33

Disliked

{quote} How did I pay my mortgage? Simple, I got an Electrical Engineering degree from Cornell and worked for a living. How do you still have loans out if you went to school when I did? it's been 35 years since I graduated. And yes I've made a lifetime of good decisions and investments.

Ignored

There is no free lunch on planet earth - one reap what they sow. They want something, they either work for it or pay for it.

Am still bemused by some who believed they are self entitled to free gifts from someone else.

The free loading/lunch atmosphere in usa is toxic, I thought our UK is bad enough!

1

Dec 7, 2023 11:16am

Quoting Ferna

Disliked

{quote} Okay boomer

Ignored

I'm 56 cupcake but yeah I get it, progressive liberals don't like facts.

1

Dec 7, 2023 2:48am

Quoting Expo33

Disliked

{quote} How did I pay my mortgage? Simple, I got an Electrical Engineering degree from Cornell and worked for a living. How do you still have loans out if you went to school when I did? it's been 35 years since I graduated. And yes I've made a lifetime of good decisions and investments.

Ignored

i totally agree with you in everything you said here , those guys don't want to take any responsibility and happy for having sleepy undead joe biden, don't worry the whole world are laughing at them , and i am one of those who laugh at these people

1

Dec 7, 2023 11:01am

Quoting Ferna

Disliked

lol at boomers fighting https://www.youtube.com/watch?v=wFdGh9mmO2A

Ignored

Learn your generations.

I'm GenX, the generation never mentioned because we just get it done.

Dec 8, 2023 2:55am

Quoting Expo33

Disliked

{quote} Thanking the drooling idiot for spending someone else's money. I graduated from University in 1988 right after the biggest stock/real estate market crash since the Great Depression and yet we still had to take responsibility for our actions and pay our loans back. And now 35 years later my tax dollars get to pay back someone else's loan too. You're welcome.

Ignored

Its election time. To me its insane that in times of no unemployment etc its necessary to do something like this.

Dec 6, 2023 11:11pm

Quoting Expo33

Disliked

{quote} Thanking the drooling idiot for spending someone else's money. I graduated from University in 1988 right after the biggest stock/real estate market crash since the Great Depression and yet we still had to take responsibility for our actions and pay our loans back. And now 35 years later my tax dollars get to pay back someone else's loan too. You're welcome.

Ignored

I repaid over 400K in 20 years for a loan that was little over 268K. I had 50K left over when it was forgiven. In our family we still have over 600K in school loans to repay. Trust me, your tax dollars don't contribute to my living as we pay over 15K in taxes monthly to this society.

Dec 6, 2023 11:21pm

Well, you probably had your daddy paid for your loan. Just like you will for your kids.

Unfortunately I wasn't that lucky. Also, if you read closely why some of these loans were forgiven is that they doubled the interest rates without giving any notice. That was my case.

Dec 7, 2023 1:59am

Quoting Expo33

Disliked

{quote} Thanking the drooling idiot for spending someone else's money. I graduated from University in 1988 right after the biggest stock/real estate market crash since the Great Depression and yet we still had to take responsibility for our actions and pay our loans back. And now 35 years later my tax dollars get to pay back someone else's loan too. You're welcome.

Ignored

Why are you so salty? Your life must be boring

Dec 7, 2023 11:10am

Quoting Expo33

Disliked

{quote} Learn your generations. I'm GenX, the generation never mentioned because we just get it done.

Ignored

Okay boomer

Dec 7, 2023 12:10pm

Quoting Expo33

Disliked

{quote} I'm 56 cupcake but yeah I get it, progressive liberals don't like facts.

Ignored

Go take a nap.

Dec 7, 2023 6:45pm

Quoting Ferna

Disliked

{quote} Go take a nap.

Ignored

Typical modern day child. Cant critically think. Grow up son.

Dec 6, 2023 11:36pm

"Sorry cupcake I come from a very poor family."

Is that how you've managed to pay off more than 700K on your mortgage.? Interesting....

Moreover, why all this name calling?

Also, you and I went to college at the same time. Did you make any good decisions since then?

I did, I played MTGO in collage and I saved 10 Black Lotus in mint condition. Cheers

Hance my name...

1

Dec 7, 2023 9:45am

Quoting NotBoris

Disliked

The free loading/lunch atmosphere in usa is toxic, I thought our UK is bad enough!

Ignored

Yes. It‘s everywhere.

Dec 8, 2023 6:17am

Quoting Expo33

Disliked

{quote} Thanking the drooling idiot for spending someone else's money. I graduated from University in 1988 right after the biggest stock/real estate market crash since the Great Depression and yet we still had to take responsibility for our actions and pay our loans back. And now 35 years later my tax dollars get to pay back someone else's loan too. You're welcome.

Ignored

You have a point but you should also take into considearation that these are different times, historically and economically. Sure the black monday crash was a big one, but let's not forget that in 1988, the United States was recovering from a deep recession that had begun in 1981. The economy had rebounded and enjoyed a sustained period of growth as the annual inflation rate stayed below 5 percent for the remainder of the 1980s and part of the 1990s . In contrast, the United States in 2023 is experiencing a period of economic uncertainty. There's is also the decrease of purchasing power of the average american and some other factors like multiple wars going on at the moment.

Dec 6, 2023 10:21pm

i was one of them... thank u!!!!

1

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Dec 6, 2023 10:12pm
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