Is Biden going to successfully forgive student loan debt?

[Onceuponoflove]

[BeMuse]

They legally could not even do that. Only morons would believe Democrats on that lie. After student loans are issued, they are packaged into securities and sold to investors to diversify risk. The private entities that purchase the loan packages own the paper. They expect a return on their investment as is outlined in the contract. Technically anyone can pay debt for another to satisfy a loan, but they can't just forgive them when someone else owns the contract. The loan has to be satisfied to go away. Biden doesn't personally have $2 trillion dollars to pay your student loan debt off. Congress, would have to pass a spending bill to pay that sort of debt and then barrow $2 trillion from the Federal Reserve which would create a much larger loan that tax payers would be responsible for in addition to the interest to service the loan. All it would do is shift the debt/loan from one account to another, but you as an American tax payer would still be on the hook to pay the debt of the loan, it would just be felt through higher taxes and more inflation rather than a monthly payment.

[Onceuponoflove]

Good thing I don't have loans. You are a really smart guy.

[exitseven]

I don't think there is broad enough support in congress for this and Biden lacks the political acumen to achieve any kind of consensus.

[exitseven]

Thanks for the MHO😎

[Anonymous]

That would be unconstitutional, so yes, he will probably do it.

[Onceuponoflove]

God help us.

[Opinion Owner]

He's since lowered it down to just giving the students in debt, 10 grand. But it's just an empty promise to help out in the November elections. It worked like a charm in 2020. They bought it hook, line and sinker. So now he's bringing the promise back, and they will fall for it again. And in 2024, they will fall for it a third time.

AOC makes $174,000 per year in congress, and she said that it's not fair that she should have to pay her student loans back. She thinks that this guy should help pay her loans off.

[Anonymous]

I don't know, lets find out!!!
(guys, you're fucked up)

[John_Doesnt]

Nobody has the power to remove student loan debt. In fact I think most American debt is well deserved except for medical debt. Because our country seriously needs universal health care.

[josephinelcajon]

He keeps giving Ukraine billions of dollars every week all while we are on the edge of a recession, he has the mint printing monopoly money 24/7. Whats a few trillion more why not!

[Dargil]

I hope he doesn't. They shifted back to the schools that incurred them.

[blondfrog]

He's too corrupt to pass a bill to let that happen.

[Surely]

If he wants to talk price gouging. He should look at the colleges! Not pay off people’s loans.

[Guy13]

He's priming the pump for President AOC 2028

[Pterodon]

All he’s doing is trying to buy your vote

[Onceuponoflove]

I want him gone.

[In_Trance]

He can't. The debt isn't held by the gov't

[Anonymous]

I hope not