Biden admin. to forgive $39 billion in student loans
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- Опубліковано 17 лип 2023
- The Biden administration announced Friday that it will forgive the student loans of more than 800,000 borrowers, wiping out $39 billion in debt. #shorts #biden #whitehouse #studentloans #studentloandebt #studentloanforgiveness
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If i cant get student debt forgiven, i will absolutely take having my Mom's student debt forgiven. I still see it as a win.
She’s still going to be paying for it
OMG, people caring about other people's well being?!
*_if_* she counts in the 800k selected.
That shits just a lottery ticket
@@nobot6177bro thinks we care 💀
@nobot6177 Donald Trump got 6 lots of debt forgiveness. It's called bankruptcy. There's no bankruptcy for this debt. Republicans stopped those reforms.
Aaaaaaaaaand we still arnt talking about making colleges lower their prices.
Because that would mean cutting subsidies
Most leftist politicians don’t like to get to the root of the every problem America has they rather just waist tax dollars on short term solutions and ban everything.
Why would they lower their prices? They're making bank.
Why would they. Then they can't buy votes by promising to pay your debts.
@@okairo Because education shouldn't be god damned racket.
I almost couldn’t go to school because I didn’t have a co-signer. I went to a state school I graduated with a Bachelors Degree in Psych and I make 50k but have to pay 850 a month for my student loan payments. I am 80k in debt and at this point I wish I didn’t go. Some days I go hungry because I’m living paycheck to paycheck
I hope things get better for you dude, wishing you better days (also I'm going to definitely do some research when signing up for college, I didn't know cosigning was a thing)
Did they forgive your loan already?
Minorities get discounts and opportunities, your mistake was identifying as white when you should of said Hispanic
And yet no one attacks the predatory system that allows this
@@kfstreich4787 that’s a life sentence and then some for a person, however multiple people protesting 🤔 ah non violent protests don’t do anything, same with Unions too, because true progress requires escalation leading to death and/or incarceration (are you willing to do this for the greater good at the sacrifice of yourself? 🤨 no? Then nobody will, I know I’m not going to 😁 nothing worse than someone complaining and not doing anything about it 🤧 you expect someone else to do this for you?)
Ban student loans. Then college would get cheap quickly.
Fr, people are acting like college became so expensive independently of the introduction of federal student loans… as you can imagine once nearly unlimited federal student loans were implemented, colleges started charging 87k/year
Yea, but it will also stop millions of student from getting a quality education because they cannot afford it.
@@riptyurass302 it would also force colleges to lower tuition and board prices significantly, causing more students to be able to access college, just maybe not right at the age of 18. you would then effectively be able to work a part time job and afford college once again
For those exact reasons, they will never ban student loans. I doubt the federal government can outright ban private loan either since the argument will be centered around limiting access to higher education
.
Then we will have to pay more in taxes do you want that?
What they really need to do is take a hard look at how much college costs and make them justify how inflated it is compared to what it used to be.
The thing is, you can't. It's a private business. They can charge whatever they want. They'll always set tuition to maximize their profit based on what people can pay. The more subsidies the government provides the more they charge so the problem never gets fixed. The only solution is people being unwilling to pay and taking another route in life. The real problem is teaching everyone that the only option is to go to college.
Only way for that to happen is education is completely funded by government and then they negotiate the price… otherwise no solution to that
College costs so much because of government guaranteed student loans.
@@JohnLeeCaskeyAnd when society collapses because 30% of the population that would have been in upper class and middle class careers like teaching, finance, healthcare, management, STEM, etc. are now flooding the lower class blue collar jobs? This same stupid argument has been made of agrarians for over 100 years and it becomes more absurd every year. You can't make the majority of the population farmers and expect the quality of life to maintain itself. Same as how you can't make the majority of the population blue collar workers and expect the quality of life to maintain itself.
@@JohnLeeCaskey It's a private business... That the government inflated by allowing any 18 y/o with a pulse get 5-6 digits in debt to attend. Thus raising the price. Imagine how much nicer the world would be if the govt didn't turn everything they touch to shit.
but yaaa big govt, right?
When the government finds a loophole its fine
When a citizen does a three letter agency kicks down their door
It’s not even a loophole, they’re just actually forgiving the loans that they promised to several decades earlier. Would you rather them screw people out of something promised three decades ago??
Unless the citizen is wealthy lmao
@@GSCBrowningyeah. The police are tools of the rich, always remember that rich folk are only arrested when they piss off richer folk
The fact that they make the laws means nothing to you?
@@eliontheinternet3298 I mean if Biden would abolish ATF and IRS I wouldn't care. either that or simplify the Tax codes to where you get your notification of how much you owe, and you pay it. simple . still abolish atf tho
While it would’ve been nice to have a wider impact, seeing my dad no longer have to worry about his student loans anymore was genuinely such a nice thing.
Lonehck00
On lnstagram
I followed all their instructions and they were able to clear my student loan debts and my other debts without any upfront payments.
@@JenniferWilliams-zi7rj if someone ask for upfront payment for things like this its probably a scam
I felt like I lost a 100 pounds when I got the letter saying my loans had been forgiven after paying on them for 25+ years and barely seeing a drop in the amount owed. I'll just let the haters hate, while I rebuild by life and finally be able to afford a mortgage.
It affected my mom, she got almost 200,000 student loans forgiven.
That’s life-changingly incredible, congratulations to her!
She had $200k of debt after paying for 25 years?! wow!
@@PhoKingWay she was in deferrement but worked for the government
@PhoKingWay that's how those loans work. If you're on an income based payment plan, you aren't even touching the principle with your payments, so the interest compounds monthly. Mine doubled while I was paying the largest amounts. That's how those loans were designed to work. They're a money generating scam designed to trap children in long term loans with shit conditions, packaged as "good debt".
Everyone else gets to pay for her bad life choices. Thanks….
It's certainly better than the nothing the Supreme Court wanted.
You know people still have to pay for it now right? Just through taxes. So now people who never signed on for a loan, have to pay for one
@@BearkyUSA
Bro we already pay taxes. I’d rather my taxes go to something useful for other people. Atleast with public funded things there’s no middle man stealing our taxes
@@unknownz1238we already have a shitty ass economy, I don’t need money we could be using to fix the economy being spent towards people who got a communications major
Most times if you can't pay your bills whatever you're not paying on gets repossessed. Just because you can't pay your own freaking bills you signed up for doesn't mean I should.
@@thebarbarians8082
Bro. Have you taken economics. By relieving debt it stimulates the economy and drives capitalism because there’s more consumer spending due to higher disposable incomes. This is an economic policy too
This is a legislation for colleges to benefit colleges not middle class lower class students. The real solution is more affordable college. Bust the monopoly that is Pearson
Only way that happens is if the government stops securing their money for bad decisions.
But liberals won't accept that. Tribalism and whatnot.
There are a lot of monopolies that need busting, college ain’t even in the top 5
@@genericperson1020 Okay, name all five. Then explain to me why that excuses my taxpayer dollars shoring up THIS monopoly.
free college for boomers screwed things up when they ended it
@@jordanwardle11just say Reagan he force college to raise tuition by cutting their funding if they didn’t
If Biden can forgive $20,000 in student debt, I think he can forgive me $20,000 in Income Tax!!!!
As a mortgage officer, I want to point out--that's 800,000 people in their 30s and 40s who can now afford to buy a house. A car. Go back to school. Save for retirement. This is good for EVERYBODY.
How?
Assuming the average cost of a US home (little more than 500k these days), you're going to need a 150k down payment to buy a house.
If you've got a job that's allowing you to pull together 150k for a house, *how are you struggling to make student loan payments?*
And won't Thanos snapping 39 billion from the economy only drive interest rates *up?*
So won't that increase mortgage rates, meaning people who managed to buy a home *before* the student loan forgiveness ponzi scheme went into effect end up having to foreclose?
No it's not 😂
@@michellerussell49.
Explain.
Loans and debt don't magically disappear.
@uni4rm Honestly, I could see a program where A student debt is forgiven after a 150% of the principal has been paid. There is literally no benefit to society to keeping a class of college educated debt slaves. The fucking lenders still make money.
Will still never understand how student loans are legally allowed to have interest. Should also be price caps so people don’t ever get charged these amounts again in the first place.
Because other wise no one would give out loans
Just make it dischargeable through bankruptcy. Solves literally _every_ problem with the modern education scam.
Can't have that, though. Colleges will have to be more intelligent with their spending and charging.
@@republicdefense354these people live in a fantasy world where money can be infinitely printed with no consequences and all the hospitals make medicine as cheap as possible because the only thing they care about is people being healthy.
@@republicdefense354 I mean, that’s why they are government loans. Private loans have an actual threshold you have to meet because giving someone with no credit, no job, and no assets $120,000 is insane.
@@republicdefense354 In my country they are interest free while studying, or if you are unemployed.
It should be noted that the Supreme Court didn’t say that forgiving student loans is illegal/unconstitutional. They said that the way Biden did it (with an executive order) was. Because that’s not what an executive order is supposed to be for.
Woah woah, let's not let the facts distort this click bait video
The heroes act of 2003 however does give Biden the ability to forgive student loans.
@@shevthegreb757 Authorizes the Secretary of Education in certain situations, to a limited degree, not across the board.
@@shevthegreb757 No. The wording and intent of the law when it was just passed certainly doesn't support that. Hence why SCOTUS ruled against.
@@calwooten SCOTUS contains people who are both greedy and at a conflict of interest regarding Biden. They are one of the most corrupt people in US politics.
Only in a complete dystopia is it ruled UNCONSTITUTIONAL to FORGIVE DEBT
Sooo he forgives student loans for government workers. Screw everyone else.
Start holding the colleges accountable not the taxpayers
Stop federally backing students loans. That’s what caused prices to explode. Tell big daddy government to get their fingers out of the pie and stay out of the way.
@@RighteousRage I would prefer if we got rid of all of the programs that caused taxes to go up like that
You took the loan, should we not hold people who take out money liable?
Blame the federal government who don't even take into consideration if you'd be able to pay it off.
@@gorgeousfreeman1318 I am with you there, I think 80% of college degrees are scams designed to make people take on exorbitant loans to create many generations of indentured servants
Forgiving student loans wouldnt effect tax payers at all...
So we the taxpayer have to bail out rich banks whenever they loose money betting wrong but when we want our citizens to be bailed out there is no money for that,doesn't the constitution say We the people? Not we the rich?
SCOTUS works for the 1%.
This is capitalism. We are all livestock for big capitalists.
@@chachachi-hh1kscommunism is just everyone is livestock to the government
Come on, only land owners had rights when this whole thing started. Lets not pretend this isn't the american way.
The big bank bailouts of 2008 required them to pay it all back, about 700 banks have fully repaid this debt totalling about $236 billion repaid, but there were 6 banks (in 2019) that still haven't paid. And they are still in business... looking at you OneUnited Bank.
“ a yo, you can’t do that “ lol
"No, we cannot afford to forgive student loans… oh btw there’s our new aircraft carrier"
EXACTLY.
Why should the US tax payer have to pay for the poor choices of children with gender studies degrees?
@@roscoejones374 Why should we have to spend more money on the military when we aren't in war?
@@teamofone1219 it serves a purpose. It stops further wars. We live in the most peaceful time in human history because if anyone fucks around they find out very quickly. Now college grads make more money on average than non-college grads. Why should the poor have their tax dollars go to the most wealthy?
@@roscoejones374As someone who is in poverty id rather pay taxes to fund my education then a conflict we should not even be involved in. Also making uni cheaper will help poor people. Wtf are on about it?
Doesn't help enough people but at least it's something.
debts cannot be erased
@@kurger100cope
The US could be better if we didn't have people going against the advancement of Human kind and Human rights. *cough....* Republicans.
@@kurger100it's been done since ancient times and for good reasons. Literally one of the first usages of a word meaning freedom was related to debt forgiveness. (Ama-gi)
@@fishtacodeluxe1940 go study about bankruptcy if you think that 'magically' eliminate debts.. that's not how bankruptcy works. Also why you are trying to bring in the bible. religion and politics has to be separated, isn't it according to most leftists
It’s almost like allowing student loans to be voided under bankruptcy would solve all these issues rather than put a bandaid on it
Can I do the same with other loans and still keep the property? Can I keep my house if I declare bankruptcy after my mortgage? Or keep my car? Or keep using my credit card?
@@stansman5461It depends on the type of bankruptcy, literally just Google it.
@@stansman5461what is the point here exactly? If you take on debt to go on a vacation across the world then go bankrupt the collector can't undo that vacation
@@Jack-sq6xb yes, but debt for vacations isn't a blanket cheque. The bank will discuss collateral and have a right to decide if you're worth the risk. They'll also be able to calculate the risk of bankruptcy.
Can't do that with student loans. Banks aren't being allowed to pick and choose student loans. Because they'd definitely loan to a doctor or lawyer and not someone studying french art history. But apparently, that's discriminatory and everyone should be equally able to follow their dreams, no matter how useless.
@@stansman5461 the loans being forgiven aren't from the bank, they're from the government which is based on information from the fafsa. Further, when someone goes bankrupt, other things than just collateral can be repossessed in compension. Its common sense that debt is annuled in bankruptcy
If you go to school and get taught while knowing how much the cost will be you shouldn't be given a free pass.
Actually the department of education has the ability. It's literally in their power.
Only corporations get bailouts :)
Exactly. Because they are gods and everyone else should burn in hell because eff em, that's why.
Corporations all support Democrats.
@@slappy8941 My guy what weed are you smoking?
Hey you sign the paperwork just like I did. I paid back mine. You pay back yours.
@@marshallfischer3667
While I don’t want to assume your age, the average student debt of today’s college grads far exceeds the amount of college grads from 30 years ago. However, despite the increase in tuition, wages have not increased in a manner proportional to that increase. We are not in the same economic situation as before.
Everyone arguing over their perspectives but no one cares about why the education debts are soo shameful. University and college way over charge
I almost went to the cheapest uni in my state. Tuition and fees was $6,000. A 75 sqft shared dorm was $16,000 and there was also about a $1,100 fee for meals. The dorms had no kitchen or appliances. They also had a rule that freshmans had to live on dorm campuses even if they were from the same town. Absolute highway robbery.
@@joshuagrimes5593why didn’t you go to community college for your first two years?
@poochie5543 I am now. My parents refused to pay that amount and I didn't receive any fasfa or any meaningful scholarships. I got a job and now going to a community college.
@@joshuagrimes5593 good for you!
Forgive the debts and you haven't seen over charging yet.
It affects people who went to overly expensive colleges and got a worthless degree. It doesn’t affect 99% of graduates.
BAN COMPOUNDING INTREST LOANS! Problem solved. No one should borrow money, pay back that same amount of money, and still somehow owe that same amount of money. Its loan sharking and its disgusting.
What you are saying is to get rid of interest
Who will want to loan you money if they dont benefit from it? I certainly wont invest my retirement plan into a company that doesnt make a profit.
Republicans shaming anyone for circumnavigating anything is fuckin hilarious.
They're not the party of corruption or destroying american freedoms and values though.
Bro them releasing students debt makes the colleges charge more
@@Daryndapro Just forbid them from doing that then? It's not that hard.
@@grillygrilly its private business though im pretty sure they can charge whatever they want
“Democrats shaming citizens for circumnavigating the government and supporting the government circumnavigating itself is fuckin hilarious”
Forgiving student loan debt after 25 years already was a thing
Yes, it was already a thing, but the way the government and the loan servicer is handled it it was almost impossible to achieve
Right? Not sure why we're patting them on the back for just undoing a previous injustice and not actually keeping his promise still
@@plursocks
He kept his promise. Others decided to override him. Not much he can do about that. Finally, you’re talking about his promise you it’s a promise you didn’t want him to keep. Now it’s just political ammunition.
@@neilkurzman4907 WRONG! There are a multitude of things he can do about it. One of those is what he did by invoking the Higher Education Act.
@@MaJetiGizzle
Yes, he did what he could do.
Something I think would be fair is to put a cap on how much interest a loan can accrue. It is insane to me how some people have to pay more than twice the amount they borrowed in interest. Somewhere around 150% of the amount borrowed should be like a hard cap, and even then that seems excessive. Maybe this shouldn't apply to ALL loans, but at least for student loans, where some people get buried in debt before they can start working.
Why not cut federal funding to universities forcing them to compete on an open market?
@@MMDelta9That doesnt really solve the loan issue unless that somehow makes colleges cheap enough that people dont need loans (which I hoghly doubt). Also I don't think that would work anyway. Prestigious colleges can easily get away with costing more due to their name (like brand name items) so I doubt it would actually lower prices. In fact, it may increase prices of some colleges instead.
@@theduckyninja1086 Loans are only an issue because the government was pushing them. Tuition costs ran out of control because of subsidies and these loans. Think about it-
You're offering a high demand service with a relatively low overhead cost. To maximize the value of your service, you need as many buyers as you can get. But keeping your service costs low, more people can buy from you.
But that incentive to keep costs low is obliterated if you know the federal government will use tax payer money to cover most of your clients expenses and the banks are going to hand out high interest, no credit needed loans like TikTaks, ensuring you have a customer base regardless of the quality of your service or the price you're charging.
That's what education is and why the costs have run away on us.
Over a third of your tuition fees will pay for infrastructure, sports, staffers (from professors to janitors), marketing, tenured positions, administration (including useless HR positions), student experience....
How much fat could be trimmed there? Don't believe me?
My post secondary education cost me less than $10k cause it was run out of a 2 story office building rented out for half a dozen different trade courses. I was already employed in my field of study before even finishing the 2 year course.
Branding for education only really matters as far as networking is concerned. Most college grads are simply not going to need the prestige of a college like Harvard or Yale, and it's worth noting that prestige only exists *because those schools are charging people out the nose.*
Treat the colleges like any other business. Starve them out and you will see prices come down out of necessity.
"I'm uneducated, this won't affect me at all?" "it actually will because the people with those loans now have an easier time living, more money to fuel the economy, are more productive in the workforce and can do more of the things in your life that require people who have a degree" "I don't understand that nonsense, if I don't get free money in my hand then it doesn't help me!!" "yeah figures, probably because you're uneducated"
Yeah, people forget that without crippling debt people tend to actually participate in the economy
@@juliusdauksys2183 both participate and are free to use their degree to the best of their capabilities.
Move to a different city for opportunities to use that degree in the first place.
As a young person who works a trade and didn’t go to school I can’t wait for my taxes to go up 30% for the rest of my life so we can pay off Ashleys gender study major 😐
@@mistgocrazy6587 most people only pay about 15-20% of their gross as taxes so a 30% increase would amount to 5-6% which, even if you make 100k, wouldnt be enough to pay for a single f-22's (which we have bought dozens of every term) even if we tallied your whole lifetime of taxes, past and future.
also i feel like youre undervaluing a gender studies degree. while its not as practical as advertising or business management, its still very useful in both of those fields. understanding the people you're trying to sell a product to is key in advertising and understanding people is very important when managing people or in HR situations.
@@mistgocrazy6587yea these people forget that in no way is it tax paying Americans resposibility to pay for something like this. Lets pay off my medical bills next shall we?
“We’re gunna do a thing”
“That’s illegal, you can’t.”
*does* *a* *bunch* *of* *cocaine* “Well we couldn’t do that, either”
Yup.
Hunters become hunted
Oh no, hunter is soo bad. Hope he shares a cell with trump.
@@udavsterthe whole Biden family really needs to share a cell joe has been doing corrupt stuff to keep Hunter out of trouble since before he was vice president
@@udavsterUnlike Hunter, Trump didn't break any laws, no matter how much the criminal-in-chief and his simps mald about it lmao
I hope this is not the only student loan forgiveness going on
It is the younger generation that is most negatively effected by this debt
It’s not anyones fault but their own they took out that debt. As a member of the younger generation I say let them drown. It’s not my fault they made the bad decision of taking it out without being able to pay it back, so why put it on the one who actually got a job to pay it back???
No one forced them to take useless courses that cant land them a decent job. Never have u seen engineers, doctors or lawyers complained about student loans. Just gender studies bs
@@nobot6177Wow, man. You must be an island cut off from the mainland of society, because helping others be more productive citizens often resluts in a net gain for GDP, which helps all of us.
@@nobot6177Big, "I have mine so screw you all" energy.
@@nobot6177yeah all young people should be in low income so China can further outpace us and America will become a third world country, wounds like a great plan
I want that “Ayo, you can’t” to be the official ruling
Crazy idea: instead of debating whether or not we should be forgiving student loan debt, why don't we debate making colleges lower tuition so people don't have to take out loans to attend college in the first place. Just a thought.
Let’s be honest, never once has Biden sounded that smart.
Really? Republicans keep crying hes some super genius criminal master mind.
@@bigvaxmeanie925Not like you need to be intelligent to be a criminal mastermind, you can just look at the cartels in Brazil and see that.
Some debt is better then none. Glad there is still some follow through on campaign promises
@@aaronjjacquesbro chill out they literally said “SOME dept [relief] is better than none”
The student loans won't be forgiven, you and others will be paying them. It is just another form of Socialism. Don't forget that no nation has ever thrived under socialism.
@@kleinboyd7415 it is just plain stupid to destroy a debt-destroying tank to get a tricycle
Then and than are different words with different meanings, genius.
@@slappy8941 why are you getting so worked up over bad grammar?
A direct insult to those of us that paid theirs back
Ah, yes The classic “I’m miserable so everyone else should be too”
@@Bluebooty uh…. Pardon. I am perfectly happy: married, 3 beautiful kids, a gorgeous home, and debit free. I paid my student loans off. I have no clue what you mean…. Unless you are talking about those wanting this. I refuse to let my tax dollars go to paying off low life scum that could not get a job because they majored in lesbian dance theory, I majored in IT a field that always needs more people.
@@Bluebooty Don't go to college if you can't afford it! Forcing people that already paid their loans to pay yours as well is theft! Not to mention really slimey and lazy!
@@kainable8769exactly well said
"I survived cancer, how dare they find a cure for it!"
My mortgage identifies as a student loan.
They should allow student loans to be discharged automatically when people go through bankruptcy process.
Why do you think that’s true
If you were going to do that college would go up exponentially. Just like a house if you go bankrupt from your debt then you don’t get a college degree it automatically gets revoked. Nobody would ever pay their fucking college degrees if you could just get it removed college degree is such a bad investment nobody ever would pay it out.
@@gabelincoln3608hese government backed loans got people in this mess in the first place. Just revoke the college degree if you wish to discharge the loan. I’m sure those underwater basket weaving degrees(or other degrees that only earn you a spot at mcdonalds) are very useful. And I’m sure colleges are spending the millions on tuition on better teaching and research instead of hedge funds
You should also forfeit your degree in bankruptcy as well.
DUUUUH
how dare u shame jc dentons image. Student loans are already incredibly favorable, so much so only the government can give u a deal this good and regular banks cant compete. Your just spoiled. get a job.
My favorite cereal box just got even smaller
I only get cereal when there’s a deal for them.
Does anyone actually know anyone that got their loans forgiven? I don't, do you? Please let us know..
I’m a young guy and was in a school that was deemed a scam ITT tech and my debt was around 12k, it was all completely wiped off my credit report a couple years ago.
You can’t forgive debt. You can only transfer it.
Real question, not being facetious. What’s your thoughts on interest? At extremely high rates? Even now if we talk about inflation all the data shows that a large part of price hikes (let’s say groceries for example) are not supply chain demand etc. but profits instead. Profits that are not being passed down to employees.
Also the way the US now treats/views monopolies has changed. Sure, you can charge whatever you want for power if you’re the only company supplying electricity to an area, but at a certain point it becomes unsustainable and eventually cripples society.
Also. As a side bar. Why is it so much more expensive to be poor in this country? People rent for more money monthly than it would just cost for them to get a mortgage but they can’t. They’ll have higher interest rates on almost anything. You can’t even keep money in your bank account without getting charged. If someone has under a certain amount in their account they will be charged. I get that “it’s not a charity” mentality but does that actually make sense? Banks do have other forms of income, so it’s not just that.
@@aval5098 it’s hard to answer your question without a chapter long explanation on how and what inflation is. But let me give you a real quick answer.
Anyone who tells you that profits are causing inflation are either lying to you our are completely ignorant of basic economics. It simply is not true.
As to why being poor is so expensive in the US that is easier to answer.
People who live on less than 2 dollars a day, or whatever you use to define poverty, simply have much less stuff. Have you noticed how a large part of the homeless have phones or even TVs. They all eat every day and can afford drugs in a lot of examples. The poverty in the US is not the same as poverty in countries where people actually starve.
@@aval5098 so I saw another comment by you. I said that inflation was caused by profit and greed.
Does this mean that before the inflation you believe that corporations were not greedy?
You're a subject, not a citizen. Quit voting these liars in.
You have the choice of the liars who rarely help the people, or the liars that actively hurt the people. Still important to vote in the less bad liars lol, despite how much it sucks
Voting in USA is useless. 99% of vote-eligible people are sheeps and don't know there's more than 2 parties. So the government uses it to push two most profitable (for them) people in there. That's how it's been for centuries.
Having the choices of liars, choosing the lesser evil is important
Ranked choice voting is so crucial, I genuinely detest the USA
@@gwenmcgarry528 Can you guys collectively vote no as a symbolism that both candidates are dog water and let them choose another?
He's looking for votes 😂😂
Colleges being less expensive=good
Forcing other people to pay for a service people agreed to, knowing they would have to pay, taking money away from needed projects like saving Maui or securing our southern border and fighting the Latin American Cartels=bad
Right because it’s not like the other part of the developed world doesn’t you know invest in its people at all, that boot must taste pretty good corpo boy.
Imagine being against helping students
Imagine taking a loan for a college degree that won’t get you any job and getting mad when you can’t pay it back.
Imagine thinking the money comes out of thin air or are you okay with making America tax payers pay students debt
Imagine paying back your own loan
@@GarrettGuerraSo I assume you are against all the military spending?
@daddylonglegs2744 Well guess what? The job market changes. A solid career could be basically die between starting and finishing your career
"I'll forgive your debt.... If you pay it off..."
no, its forgiving your debt if you cant even pay it off after 20-25 years. there is a big differences
@@LostWallet so just pay a bill for 20 years and THEN they will reimburse you. Ya that will totally be honored by a future administration
@@Bigolhusk dude, are you ok?
ignore future administration. didnt you just hear that there are 800,000 people that could get this debt forgiven right now? that is 800,000 people who are still in debt from college that is already paying their student loan for 20-25 years that this could help right now. why are you looking for the future when this could help this much people right now? what is wrong with you?
@@LostWallet I think I'm just confused. This is for people who 25 years ago were in college and are still paying it off?
@@Bigolhusk yeh. its not for people who getting loan to day, and planning to get it forgive 25 years latter.
20 years w that thing over your shoulders… thats a heavy load.
If only Dems grew balls to go after Supreme Court.
Yea, I’m done with Biden and Harris
No way the convicted felon is better than this
The comments: "wow he's actually doing something good"
The replies: "BuT aCtUaLlY"
Guys chill, I'm not saying hes right, I'm just saying what the comments are saying
I don't think transfering YOUR debt to the middle class will help society in any way
@@gewnurb who said I'm not middle class
@@brysondynamite2055by YOUR he probably meant people who can't pay their loans, and the way he knows is if you are middle class you make enough money to pay your loan and don't require daddy govt to pay it for you using other people's money.
@@gewnurbif only the rich were required to pay more taxes! I wonder what political party wants that to happen 🤔 couldn't be the one that want everybody to pay the same regarding taxes including those who make 20,000 a month
Government money is not free money. I don't understand why this is such a difficult concept for people to understand. It comes from taxpayers. This means that ANY government spending is never just a good thing, it is a trade off of some kind.
FJB
Still waiting for all the big loans businesses were forgiven to be brought back.
Here's and idea, and hear me out. Don't take out a loan.
How do you go to college then?
@@thebrokentable7554 work, save money through highschool. Find a college in your budget. That's what I did. I am 6 semesters in. Have zero debt and have enough money saved for 2 more semesters
@@pknepps so for the state college I'm looking at it costs 28854$ (that includes tuition, books, on campus housing at cheapest price, ect) for the first year without aid, let's say I'm lucky and am paid 15$ (I am not) an hour at a part time job and can work 30ish hours a week. To pay for that I'd need to work over 1923 hours or roughly 83 days of straight work. While may seem stressful but doable at first glance, let's consider how over-staffed many places are in my area, working around attending high school and completing homework, taxes, extra money needed for goods and services, and when I start attending emergency funds (a hospital trips cost a lot), car insurance, and savings it becomes a bit harder to pay that off with out help.
@@pkneppslad must be going to Bangor University or something lol
@@iregretthis8351 don't forget rent, bills, food, transportation... $15 an hour isn't going to cut it. I know you said some of it and that was the general message, but there are some thick skulls out there that think you can still "pull yourself up by your bootstraps"
My mom had hers forgiven and she started crying
Help, I commented something I thought would be lighheartening, but I think I did the opposite
I would to if I had to wait a whole 20 years. I'd be balling my eyes out thinking why did you wait this long, why have me suffer for 20 years
Exactly!!!! Just because it’s not as many as we wanted, if it’s clearly under their authority then absolutely they have a duty to do it.
@@crislouise2509 YOU chose to take on debt, why are you so pissed you have to pay it off?
@@Rhov9 a DUTY? where in the Constitution does it say that the president has a duty to cancel voluntarily accepted debt? YOU entered into the loan contract of your own accord. You made your bed, lie in it.
@@dummyemail8430 I personally never took any loans I'm just saying if that was me I'd be both relived but pissed it took so long to. Also the way loans work for college education is vary rigged against the students in terms of intrest and inflated prices for essential materials colleges require thier students to use. Look at the cost of food,boarding and textbooks especially.
So pretty sure that was already in standard student loan forgiveness.
The real problem is college degrees are seldom worth anything and that's because they don't prepare you for a job.
Soooo people who didn't go to college have to pay for the people who decided to go to college.
your tax dollars do not fund federal spending, they are used to curb inflation by reducing money supply. the federal government pays for its own spending by printing money (yes, really.) google modern monetary theory to learn more about how this works at a systemic level and its implications if you like, but the long and short of it is that with only a few exceptions (like social security) your taxes have nothing to do with paying for anything, they're just how the government tries to control inflation caused by its own activity. if all government spending was paid for through taxes, then any budget increases would directly affect the tax rate on a per-year basis, but as you can see from US tax law, they don't.
@@drewbabeyour dumb theory doesn’t work because of inflation. Zimbabwe basically disproves your theory.
@@yellowwarrior3025 This ain’t Zimbabwe tho
@@Wcduc it’s an example of what happens when you print too much money
@@drewbabe so they either use tax payer funds to pay for it, or they print money and cause inflation for it.
both affect the middle and bottom class the most, but yes. lets pay off the loans for college students who statistically make more money than all those groups. theyre the ones who deserve it clearly.
So something good happened in America.
Am I dreaming?
IDK
What's good about taking money fron responsible people and giving to the irresponsible?
Why should we pay there loan they took out
@@thomasjefferson5727 Idk, I'll ask the person who gives you your money and tell you, deal?
@@thomasjefferson5727because all of those PPP loans help the people 😍🤑🇺🇸🦅🍔
just lower the colleges prices...
Forgiving student loans doesn’t mean shit if they don’t also make college and trade school free so that we don’t just end up doing this shit again later
Me who’s going in the military for the free college and no money down on a house: What’s debt?
Ah yes, be poor or risk your life. The modern dream
Have fun with the PTSD and no government support afterwards, champ :)
@@tomato9349 No no, here's the thing, im good with money so i'll just use the system to my advantage. Plus, we literally arent in any significant wars rn and there are many resources that I can reach out to if (which is literally ridiculously low considering im going into the airforce) I need to deal with PTSD. It's called taking advantage of the resources around me, I'd suggest you do the same, champ. :)
I am already on this plan. It's called income based repayment. If I continue to be under a certain income. I pay 0$ a month for up to 20 years and my debt is forgiven.
Yeah, sucks though when you make over a certain amount they can charge up to 10% of your income.
Yes, thanks for being knowledgeable on student loans… so many people talking out their ass about things they know nothing about. Also they plan to make it 10 years in future so hopefully that catches everyone up
@@darigaaz66that is being lowered to 5%
@@valfreyaaurora4922 my mom's a financial aid advisor for a community college. So I never really had the choice to not be knowledgeable about them 😂. I am thankful for the knowledge and access that has given me.
Maybe you should have gotten a degree that was worth something. Just saying
800000 people? That doesn't seem like very much
Why doesn’t Biden change how student loans are issued in the future? People who’ve signed their contracts have already signed them… but changing the system so no kid had to sign up for predatory loans would basically solve this in 20 years.
Pay your debts.
The $200,000 debt anyone who wants a job paying a livable wage is forced to get? And then is literally impossible to pay off because of interest?
@@Phucky0u Sue the school then. Requiring taxpayers to foot the bill is an absurdity.
@@AroundTheBest but paying the military $700B a year is fine
@@Phucky0u That's a whataboutism, a red herring. Completely irrelevant.
@@Phucky0uat least they do something
Here we go again, get ready for another wave of inflation
Don't tell them, they think money is free. Telling them things aren't actually "free" breaks their minds
This literally does nothing with inflation. This is already accumulated money from taxes. It is just like paying for healthcare and such.
@shevthegreb757 if the government has so much money accumulated, then why are they 32 trillion dollars in debt?
@@I_Quarter_ Military spending to fund wars we do not need..
@Wcduc then let's address that issue, instead of spending more money on things we don't need and are just a waste of taxpayer money. And if you want less spending on military how about vote for the only president in a few decades that didn't start a new war and wants the war in Ukraine to end?
That program already existed because I was enrolled in that repayment plan.
This helps nobody I know thanks for nothing Joe
colleges might raise prices if they know people are getting debt forgiven, as they know people are more likely to apply to an expensive college if it's paid for by the government. We need to have price control on college education if it is necessary for a large number of jobs in America.
What study or research shows debt forgiveness = higher cost? They charge whatever they want. Make them government funded and negotiated - problem solved - free college for anyone that wants it
@@valfreyaaurora4922 that's a good idea, but we need transparency in prices so people can steer away from overpriced colleges. Maybe it should be a fixed rate + percentage of total cost, so that you pay nothing for cheaper colleges but some percent of colleges over some price.
@@valfreyaaurora4922 because government price negotiation totally preserves quality of service.
College didn’t cost as much back then as it does today. It’s a partial win and couldn’t be happier for those people but those who are currently coming out of college like myself that are balancing a job (if you have one), living expenses, food, and bills can be extremely underwhelming. Employers are putting out help wanted flyers and available positions online just to not hire anybody.
Well yeah that's because the minimum wage stayed stagnant for years while the cost of living went up and up and up. You used to be able to pay for yale with a 7.50 an hour job; that certainly is not the case anymore. Also there's been a stronger and stronger emphasis about how important college is even though that couldn't be further from the truth. We need more affordable education(free would be ideal but that wouldn't happen in the USA) and less of an emphasis on the "fact" that you can't get a good job with just a high school diploma or GED and you need some sort of college diploma on top of it to get a good job.
I don't understand why so many democrats regard student loan forgiveness as some victory.
The people that were responsible with their institution and degree choice aren't the ones needing this loan. To quote another comment on this video: "...The bill is essentially meant to take money from responsible people and give it to irresponsible people..."
As a progressive, woke and proud Biden organisation supporter, shouldn't you be supposed to be against this?
Is it acceptable to empoverish everyone in order for your own self-interest. I expect you to be preaching for more funding for lower class minorities. Which is more important, your selfish self-interest or the people actually suffering? Could you fathom a world where police departments actually gets proper funding and woke people like you have to pay their loans like grown adults. I guess that's a crazy thought for you!
@@FelixIsLosing define “woke” from its actual origins. Also, nice of you to assume I’m a Biden supporter.
Nothing cost as much back then. Everything costs more now. Surprise!
If you think it costs too much now, then don't go to an expensive school if you can't afford it. Problem solved. But if you choose to go to an expensive school and take out a loan to do it, that's on you, you pay it back, don't make the taxpayers pay for your foolish choice.
EVERY
SINGLE
TIME
you turn a industry into an investment market it goes pear shaped
I don't want to see inflations happen anymore and this sounds like there will be an inflation.
bro your taxes are gonna go up by half a cent youre not even gonna notice
It would repress a recession
@@quesadi bro its just another monthly loan payment, you won't notice.
The way that you have to get a debt for half of your life (if not longer) just to get a higher education in the US is beyond my understanding. I payed like 40$ entry fee to go to my university.
And then you’ll pay a 50-70% in taxes (income, vat, etc) for the rest of your life. I lived in Europe. Taxes are insane.
There trade schools /scholarships/military service and etc we should not pay there loans
@@tbe0116there is no 70% tax rate. Also the tax rate scales based on your income just like the US
@@tbe0116I lived in Norway, my taxes were less than most Americans pay. They just do money better
@@alexthewrecker4666 Sweden is 70% at $98k+. The UK is 60% between $100k and $125k. There is also a 20% sales tax on early everything. That adds up fast.
The good thing about a president who's been a senator for 50 years is that he remembers voting on bills like this
Biden has failed this country for 50 years he needs to go
I doubt he remembers anything
imagine making the tax payers pay for debt adults took willingly
He doesn't remember if he took a dump in the morning.
oh biden had a big hand in the mess we're in today.
"In 1978, Biden supported the Middle Income Student Assistance Act, which eliminated income restrictions on federal loans to expand eligibility to all students. Biden helped write a separate bill that year blocking students from seeking bankruptcy protections on those loans after graduation. (The income restrictions on federal loans were reinstated in 1981.) Then he went on to vote to create the Parent Loan for Undergraduate Students, or PLUS, program in 1980 and the Auxiliary Loans to Assist Students, or ALAS, program in 1981, which extended loan eligibility to students with no parental financial support."
so biden was basically those guys in The Big Short who wanted to give anyone with a pulse a loan to buy a home. seems like a really kind thing to do, everyone needs a home, but in reality giving everyone who asks a ton of debt without confirming their ability to pay back that debt is a good way to build a Trillion dollars worth of unpayable debt which will likely cause a economic depression.
“I don’t think you should be paying for my son [Hunter] going to Yale Law School. I don’t think you should be paying for my daughter [Ashley] to go to the University of Pennsylvania,” he said at a campaign stop in New Hampshire, according to a Washington Post reporter. “I do think we should make it more affordable to attend school.” The reporter clarified in a follow-up tweet that Biden was specifically referring to loan forgiveness and not the related debate about tuition-free college.
Biden couldn't pull enough braincells together to make a sentence like that. Let alone stay awake for that long XD
Buying votes
Americans, this is not a good idea.
I'd just let the debt bubble grow until it pops, but I like chaos.
@@RedRabbitEntertainmenta complete collapse of the American economy would be bad for literally everyone on the planet.
@@gameknight1045 I disagree, maybe short term because of the power vacuum, but long term it'd be incredibly beneficial if the US collapsed.
@@RedRabbitEntertainment Yea… but the world will probably collapse anyways due to climate change
@@RedRabbitEntertainment How so? I mean Russia and China would be pretty happy.
1: College tuition is too high
2: The taxpayer should not be financially responsible for any higher education other than their own
Education should be free, funded by taxpayers instead of placing an undue burden on lower-income people to go into debt in order to get an education.
This works in many other countries. Why wouldn't it work in the USA?
Who gains by forcing the working class to go into debt in order to get access to higher education?
You don't want your taxes to go towards actively improving the USA? Interesting.
@@TurtleTracksStudio Not every degree is an improvement to the United States. A lot of people have pretty much useless degrees that end up with them having to work at star bucks anyway. Some modern Social science degrees are basically worthless and might even work against you.
The most beneficial education the United States could invest in right now isn't even a degree program. We have a shortage of certified plumbers and electricians. Trade school and apprenticeships.
@@onyxtay7246 no one is forcing you to go to college. if you are in debt, that is your problem so stop complaining. All taxation is theft.
@@dummyemail8430 I'm actually not in debt. I would just rather my tax money go towards helping people instead of giving the cops another tank.
Really curious bout that last part though. Is it theft to use taxes to build roads and pay firefighters? Or is it just theft if you don't like where the money goes?
Why not just make college free/much less expensive? Like in most western countrys?
This plan will cost the country more than it will assist......FJB
Imagine taking a loan and then one day thinking it will just dissapear 😂😂😂😂😂😂😂😂😂😂💀💀💀💀🤮🤮🤮🤮
If you take out a loan, you pay it back. That's it. You signed the papers.
How these "college grads" cant pay back $50k in loans is astounding. But they can purchase a car or home.
@@drshlotzkin they can't purchase a car or home. the stats on kids moving back in with their parents have skyrocketed. there are so many articles written on why home ownership is on the rapid decline and how the reduced purchasing has allowed huge banks and corporate landlords to buy huge swaths of homes and just sit on em until they appreciate in value or can be rented out. as for cars, leasing and rental has steadily been gaining over ownership financing, and the average age of a car on the road is increasing as well because people are stretching old jalopies as far as they can go, even if there are safety problems. the upside of this is that more people are commuting to work via carpool or bus so I guess that slightly reduces emissions, but that's the wrong way to go about it. also, how can you say "$50k in loans" like it's nothing? i'm pretty sure that's the median gross income for a college grad in the US, so that's income pre-tax and pre-living expenses, and let's not forget these loans all have interest! with living costs rising while wages stay stagnant, the problem with only get worse. only people getting jobs in extremely lucrative fields are able to pay their loans back, and there are only so many of those jobs to go around. we can't have the whole generation all go be programmers, the glut of labor supply would drive wages down and just recreate the same problem.
@@drewbabe first of all, he never said 50k in loans was nothing. Secondly, get out of the cities. I bought my first home at 23, you can do it. Thirdly, people on an average wage can pay their loans back if they live within their means (90% of Americans dont). Also, the trade jobs are extremely lucrative and in need everywhere, so that's not even an argument.
@@allig6467 Can’t all be traders tho.. You don’t have to support this rotten system.
@@allig6467dude is right we can’t all be traders what about engineers or doctors lawyers programmers while trades are the backbone college shapes the future of America
It disgusts me the justices get paid vacations and corporate sponsored college for their kids but dictate the government cant use our tax money to pay for our college
I mean, the Biden Admin still can't do that. It's even in the video, Congress has to do that.
"Guys, you don't understand. we NEEEED to give more money to some of the richest people on the planet"
Yep, people who can not pay for their college debt are very rich. Confirmed.
@@udavster I think you misunderstood.
@@udavster He's talking about the rich people in office who makes money off that kind of shit.
Based comment
@@udavsterthey have the privilege of even going to college. They are the middle to upper class people.
Student loans are not forgiven, they would be transferred and paid by people who didn't take out the loan.
Yeah god forbid the taxes you already pay go toward 40-80 actual people instead of bailing out another poor innocent congressman's 8 employee business to the tune of $800,000.00.
The US government spends trillions annually. You can pretend all your tax dollars are spent on a couple tank shells, or NASA, or a congressman's paycheck. I'm going to pretend mine are paying off student debt.
@@dustinbragg1921 Neither should be bailed out
What about those who already paid off the loans? They are being cheated.
Exactly, we shouldn't help anyone because it's not helping everyone. Why feed the homeless when I'm hungry right now? Why improve child education in early education if it doesn't help those in high school? Why free a hundred people wrongly convicted of crimes when there's more like a thousand?
@@cnnr_ wait a minute-
@@yeeterdeleter0117 just think about it this way, if the people with student loan debt no longer that lingering over them draining their paychecks each week, they'd have more money to spend on goods and services that are provided by the people who already paid off their loans and even those who never went to college.
@cnnr_ I went without so I can pay for college. It's not fair for me. If we forgive these debts this only gives the incentive to take riskier loans out.
It's called being financially responsible and paying off your debts.
It should be voluntary. If you want your debt paid off and you agree with such an idea, you enter the system and get taxed more until the debt is paid off. Other people who don't approve doesn't get the extra tax burden and they don't get their debt paid off.
This is the only fair method. But as we can see given the fact that the only people who agree with student loan debt are either lazy, bad with finances, makes bad decisions, etc wouldn't be able to pay it back because they're stupid. They need to rely on people who are responsible but responsible people wouldn't agree to student loan forgiveness
@@bane3991 you don't seem to understand the sheer amount of goods and services provided to you by people with a college education needed to generate said goods and services. Get off the road, stay out of the hospitals and leave your home as without college education those things would be impossible/worse for wear.
Okay, i just want to go on record and saying that its wild we have student loan debt in this nation on people who have been paying it for 25 years. That is beyond wild. All that money could be put into a home or something.
Yes because homes are affordable too
"I willingly took out a loan that I promised to pay back myself. Now it is time for the American taxpayers to pay it for me."
These same people are the ones trying to defund the police. I guess it's all fun and games when their own selfish self-interests are met. ¯\_(ツ)_/¯
What's funnier is the ones making the cancer analogy (saying people would get mad that a cure for cancer was created) but like, my brother in christ, you chose to get a loan, you don't make the choise to get cancer
Thankyou for the Sanity.
SCOTUS saying “Ayo you can’t” 😂
1965 higher education act say "AYO I CAN!"
this is like a bandaid on a canon wound. gosh i hate politicians
Bold of you to think Biden could put that many words together to make a sentence
By forgiving the debt what we really mean is passing it to people who were more money savvy. Brilliant! It’s telling that this idea came from a dementia patient
Not how it works, but sure
@@juliusdauksys2183 The State loans money to students from the taxpayers. If this money is payed back with interest the money is invested in public services, but if the debt is forgiven the money isn’t returned. Perhaps you don’t understand how it works, but I don’t blame you; a lot of democrats find economics hard 😊.
@@williamplumbridge4113 yeah, except the interest rates are crazy high and the proposed answer was after paying it off for a very long time
@@williamplumbridge4113
Could’ve gotten away with it, but then you went astray from a well written argument.
@@juliusdauksys2183 it doesn’t matter, it’s still an enormous amount of money.
You OWE the money. Pay it back.
You OWE the money you borrowed. But NOT the exorbitant amount of interest they tack on so you never get out of debt.
@@TexasGal. they say the interest rate in the contract. you accepted the fact that you pay interest.
Supereme court saying no to the student debt relife is stupid and clearly a political move.
How tho?
Why should my money goes towards people who can't pay off a debt? That's not fair why I should go without so they can have when I make good financial decisions
They did something 🥳🎉