Biden Cancels Nearly $4.3 Billion in Public Worker Student Debt
Biden Cancels Nearly $4.3 Billion in Public Worker Student Debt
From Bloomberg News reporters Justin Sink and Akayla Gardner:
President Joe Biden on Friday announced plans to cancel student debt for about 55,000 public sector workers, as his administration pushes to zero out balances for more people in the final weeks of his administration.
The move — which represents the cancellation of $4.28 billion owed on federal loans — pushes the total number of individuals who have received relief under Biden administration programs to nearly 5 million, the White House said. In total, about $180 billion has been forgiven.
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This is great! But is it means tested?
I just don't want any rich kids getting free school. Those damn rich kids and their student loan schemes.
Means testing has been a thorn in the side of american social safety nets for a long time. It creates a very easy way to lower benefits (the means line) and tends to result in reducing effectiveness as folks who could use a bit of help and then could move to the positive colomn tend not to recieve it but others who technically should not can by being immoral and paperwork savy. It also creates a larger beuracracy of those who have to evaluate the means criteria. just no please.
There is still ton bureaucracy to get this forgiveness
im talking about the actual civil service will not break the law because the president tells them to. thats what I meant by the bureaucracy. as much as it gets shit on bereaucracy is actually good for a well functioning society. we just want it organized and efficient as possible.
No... And this has nothing to do with Biden either beyond him allowing doe do its job as required by law.
Anyone who works at a qualified public interest job is a eligible for forgiveness after 120 payments.
There are a lot of lawyers with massive student loans who work for fed gov making over 100k who benefit from this. 10 years wipe loans clean them go into private to make the real money.
We are literally funding training of the owner class' foot soldiers
But right brain rot is hurt becuase nurses or social workers get the benefit. Tells you what you need to know where they got their info from.
This is spot on. And honestly, public service workers make so little compared to industry, it really doesn’t matter if they’re from a wealthy family or not - if they (public workers) have student loans, the forgiveness is deserved.
10 years can be difficult to get. I’ve known people who work for non-profits for 5 years or more, only to be let go because grant money was drying up.
So because a couple of rich kids get free school, literally thousands of others can go get fucked. Thank God we stopped those 3 rich kids from getting free education.
That'll show those rich assholes who's boss.
Who cares about all the collateral damage when you can stick it to some rich kid who... Checks notes... Can just pay for it anyway like it never mattered in the first place. Meanwhile, poor people have to end up with 3 jobs just to make the interest payment.
You're a clown and a fool.
I think the comment you were answering is sarcastic.
Perhaps, but means testing is a Republican dog whistle that people will belt out with their full chest.
Rich kids don't have student loans
That's the joke, I think
Those with rich backgrounds do not tend to work for uncle Sam and have student debt.
Because 1. Those well off don't tend to have student debt to begin with, and 2. Government jobs typically pay orders of magnitude less than the private sector.