186282@ud0s4.net
2024-12-21 03:04:00 UTC
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PermalinkThe Biden administration canceled an additional $4.28 billion in
student loan debt as the end of the term nears in just one month.
The latest round of debt forgiven as approved for nearly 55,000
public service workers.
The move brings the total student loan debt forgiven under the
Biden administration to nearly $180 billion for some 4.9
million borrowers.
However, the administration also announced it is withdrawing
unfinished rules that would have provided for additional debt
relief for more than 38 million Americans.
. . .
Overt 'forgiveness' was always a BAD idea. If you
borrow you SHOULD pay it back.
On the other hand, the whole Student Loan thing
HAS become a HUGE rip-off scheme. The loans are
structured to be un-payable unless the victim
gets a high 5+ figure job. That way they can gouge
the victims forever and ever. Sounds more like
some Mafia 'loan' scheme.
I wonder if the schools get any kick-back ???
Somebody should look into that ....
Any 'forgiveness' program - gotta go to the sane
middle ground. I'd say that if the student has
payed back say 200% (inflation-adjusted) of what
was borrowed then that ought to be IT. The student
got to pay for the education in Sumerian basket-
weaving techniques and the bank made enough back
in interest to make it all worth it.
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