While student loan repayments are currently set to resume on May 1, the White House is reportedly considering the pause’s extension. Though, the big question still remains: will student loans be canceled?
Sen. Elizabeth Warren of Massachusetts continues her push for the Biden administration to cancel $50,000 in student loan debt for borrowers.
“Canceling $50,000 of student-loan debt would help tens of millions of Americans,” Warren recently told Mehdi Hasan on MSNBC. “People whose only sin was to be born into a family that couldn’t write a check for them to go to school and who nonetheless got out there and tried to get an education.”
While May 1 is right around the corner, progressive lawmakers and democratic advocates reportedly are urging President Joe Biden to cancel debt for 43 million borrowers, especially if the student loan pause doesn’t continue, Insider reported.
Nevertheless, Ron Klain, the White House’s chief of staff, recently told “Pod Save America,” Americans can expect more student loan relief, suggesting the pause may go on past May 1.
“The president is going to look at what we should do on student debt before the pause expires, or he’ll extend the pause,” Klain said. “The question whether or not there’s some executive action on student-debt forgiveness when payments resume is a decision we’re going to take before payments resume.”
Politico reported the Education department was told to stop sending out letters about upcoming repayments, another indicator the pause may continue.
During his campaign, Biden promised to cancel $10,000 in student loan debt. While some students are under specific guidelines, borrowers are still waiting on his administration to deliver on this promise.
The president expressed concerns he wouldn’t be able to take executive action on canceling student loan debt, in the past explaining he’s trying to work with Congress on the matter.
Opponents argue not only has he not delivered on the campaign promise but $10,000 also isn’t enough. Hence, Warren’s continued advocacy of the government forgiving up to $50,000 per borrower.
Though, an Education Department spokesperson recently told Insider the administration is still committed to providing millions of borrowers with relief.
“From Day One, the Biden-Harris Administration has been committed to providing meaningful relief to student loan borrowers including the 41 million borrowers who have saved tens of billions as a result of the extended student loan payment pause,” the spokesperson told Insider. “The Department will continue communicating directly with borrowers about federal student loan repayment by providing clear and timely updates. The Department’s Federal Student Aid office will also continue communicating regularly with servicers about the type and cadence of servicer outreach to borrowers.”
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While not a fan of Liz Warren—whether or not you like what she has to say on this, she has somewhat of a valid point. The whole student loan thing never should have seen the light of day. It was a debt trap right from the outset and what student coming out of college needs that kind of a start in Life?
I took advantage of it and I regret doing it—it didn’t pay off for me. It didn’t advance my career as I had hoped and as the PR campaigns tout. I worked full-time during the day and went to school at night—for nothing. Now, I’m retired with a lingering debt.
Democrat created National and Personal debt have replaced the chains which are today used to enslave the productive to serve the consumptive. It is the social indoctrination of the herd mentality where just because everyone is doing it, even if sinful it now becomes OK, and only later in a debilitated life of regrets is their foolishness revealed to WE THE PEOPLE manipulated. If what they offer sounds too good to be true, Usually IT IS!
In your Comments, You methoned “Chains, ” and So did Joe Biden In a Speech he Gave At a Monority Church in Which he said, Referring to Slaves Back In Lincoln’s ‘Era, Joe Biden then Said, ” They’re Going To Put You All Back In Chains. … ” Democrats Should Know About Slavery And ” Chins, Because Senator Byred democrat, Was A K.K.k. Recruiter And Also one of Hillary Clinton’s Mentors She Claimed.
Born t o A Family Who didn’t’ know How To Sign A Check Say s Elizabeth Warren, ” Folks Are Dumb Were I come From They haven’t Any Learning But They Sign Their Checks With X -s And They Cash Them Just The Same . “Author Unknown.
The Federal student loan was a Con from the beginning….. But NOBODY forced these students to make a big loan to pay for their college.
Their parents are as stupid as their kids for trusting the Federal government.
—during the 2007–09 recession and subsequent recovery. By 2012, Americans’ collective student debt tab had crossed $1 trillion, surpassing credit card debt and auto debt.
In 2010, Under the Obama and Democrat controlled Congress passed and the President signed into law a bill that eliminated the FFEL program for all new loans made as of July 1, 2010. All federal student loans have been made under the Direct Loan program as of that date.
……. Congressional allies of the student-loan industry attacked the overhaul as an overreaching government takeover. The legislation substitutes an expanded direct-lending program by the government for the bank-based program, directing $36 billion over 10 years to Pell grants, for students from low-income families.
“The Democrat Party majority decided, well look, while we’re at it, let’s have another Washington takeover,” “Let’s take over the federal student loan program.”
People who believe and trust the Democrat Party are not very bright, before college or after college.
Add to that, WHY ‘clear out the debt’ of the CURRENT generation, and not pay BACK ALL THOSE WHO HAVE paid off their debt?
I somewhat agree with you. I fell for that **** myself many years ago thinking I was going to be set for life after college. Boy was that alot of raw sewage. I did work some in the field I majored in but none of the jobs were exactly secure jobs for the long term. Student loan debt for a college education that I thought was worthless. Better off going to a trade school and learning an occupation. College is a waste of time and money.
AND you can still, find some decent Trade schools, that the left has NOT YET TAKEN Over fully..
And the only sin in American politics is to be burdened with elected people overeducated beyond their ability to comprehend, basic human motivations, basic national economics, and the inability to overcome one’s envy of people who have the ability to pull themselves up by the bootstraps to positions of success where they create an overabundance of wealth to be shared with others, rather than like Pocahontas who has an underabundance of ability to process truth and logic which forces her to come to the American table with only an appetite and never enough created that she can share and enhance the lives of others with, other than that of others she can redistribute from wealth creators to wealth consumers, in a failing false sense of social equity. Elect a loser, and you always share in their losses, which become yours when they get to control the money. Having living in the world of business management, give me one person who put themselves through college in a hard work ethic, over 10 who skated through college on the daddy plan partying their way to a degree. Warren seeks to rob us of our best and brightest by making them all as dumb and corrupt as she is, and devaluing the worth of a University degree. The economics of flooding universities with Billions of government loan money just flooded them with people of learned entitlement, and inflated the cost up to six figure income socialist professors who all got rich while the students got trapped in debt.
It’s just another example of a society that tellspeople they can live beyond their means with easy loans to finance it and eventually it will be forgiven, it’s the loan industry and government combined that caused this. For years people worked and sacrificed in order to obtain the education they wanted, paying back the loans they took out. Now money is wasted on useless persuits without any concrete prospect of it paying off, ergo, the degree does not justify itself but the money is cheap. You default on a mortgage and you lose your house, you ar inarrears on car payments and it might be reposessed, student loans are no different, Many of us worked to pay off loans, now it’s their turn, pokey haunt us!
So true.. I’ve seen far too many folks, who got evicted, during that whole BULL in 08, caused BY THE DEMS pushing Fanny may and the others, to give mortgages to THOSE WHO COULDN’T PAY IT… causing the whole debt crisis.
SO WHY SHOULD THOSE PEOPLE have to get shanked over, but college folks, who often GET USELESS DEGREES< be forgiven?!
Most college degrees from American universities are WORTHLESS. That should be considered before taking out a huge loan to go to college. Once you have considered that, and take the loan anyway, pay it back. PERIOD.
Hey Liz, that’s all you gotta do is write a check? Difference between a life long politician and just good old Joe Blow American citizen. You politicians don’t have to worry about your bank account being able to cover said check.
Hel, if they really wanted to help, TELL the damn colleges, “STOP WASTING MONEY on your sports teams, beautification projects of campuses, and all those diversity/social justice administration positions, AND GO BACK TO TEACHING!
The trouble Is, As You Commented, The Politicians don’t Live in our World, The real World That the Average American Lives In but their World Of Fantasys.
I’m fine with this as long as I too, get $50,000.00 to help cover the costs of my education so many years ago. Don’t we all want “our free stuff?”
This should not even be a consideration unless the socialists want to reimburse the thousands of people who borrowed money for college and worked hard to actually pay it back. What does it say about a society that punishes people for keeping their promises and honoring their commitments? This silly twit from Massachusetts is honestly too simple minded to be in that kind of position of power. What was anyone thinking by electing her into the government as a senator?
Problem. THEY WERE NOT thinking when they elected her…
Demo Demons Never Ever DO !
I have a young friend from El Salvador whom I met a few years ago while he was working as a grocery clerk in the local supermarket working his way through school. His parents are still in El Salvador and were in not position to finance his education. He considered me a mentor, but I only gave him my input, confirming his opinion, on a few things based on experience from being on the planet for over 70 years. In the summer he worked two jobs, had NO student debt, got his real estate license and moved on to work for Robin Hood. I’m waiting to see him on the covers of Forbes, Fortune and Business Week and go for a ride in his G700 which I advised him to get in navy blue with gold trim.
While college worked for him in his chosen sectors, for the most part, unless it’s STEM, it only helps useless, weak stupid children to decide which bathroom to use, be anxious about dying from Climate Change, hate the petroleum industry, learn the Goosestep Tango, the lyrics to Die Horst Wessel Lied and The Internationale and to turn their parents and neighbors in for Wrong Think. Any with an intellect greater than a potted plant or the current occupant of the White House (sorry for the redundancy) would do much better learning a trade and doing something useful with their lives.
Fauxcahontas’ only sin was being born.
Fauxcahontas’ only sin was being born presenting a valid argument for retroactive abortion.
Most of these folks that are howling about student loan debt are the ones that went to over-priced colleges, and pursued totally worthless academic majors. Once they graduated, they either couldn’t find a job at all, or wound up working for peanuts. Several takeaways from this story:
– Colleges need to get more affordable.
– A four year degree is not for every one. There are lots of great two year programs that lead to good paying jobs.
– If you really need to do a 4 year program, shop around! Harvard. Princeton, Penn, and Stanford are all great schools, but you can probably find the academic major you want at plenty of other schools for a lot less money.
– There are plenty of ways to reduce your costs as a college student. Work/study and scholarships are two examples.
– The Feds need to get out of the student loan business. FedLoan became a thing just as my youngest was getting done with school – glad they’re already out of my hair. Yet another reminder that government does not know what’s best!
OR THEY REFUSE to work, because its “Beneith them”.
Elizabeth Warren is a CANCER that needs to be Aeradicated a long with the Parasites in the FAKE O’ Biden Administration.
Their “sin” was writing an NSF check to go to school in order to get a degree which in the long run was worthless. Now they can’t cover the check so they are being led to expect those of us who remained solvent, did not write NSF checks, and now are earning a living, to cover their worthless a$$’s. We can’t even send Warren back to the reservation because there was never one in her case.
Elisbeth Warren isn’T the one to beointingA Finger At Anyone As She Hasn’t been Honest Herself And Able To Judge Anyone Else .
My parents had wanted to go to college but were not financially able. They really wanted my brothers and me to get a college education, which we all did. We definitely were not a rich family but my parents helped us all financially to get our educations. They only insisted that we chose a field that would enable us to have a solid career. When I graduated from college in 1979, it was possible for students to pay for their college education by working at a part-time job. It wasn’t easy, but it was doable. This is just not possible today. The cost of college has risen enormously in comparison to wages and to the cost of living. Probably because colleges took advantage of so much easy government money available for higher education. The cost of advanced education today is just way too high. There are, however, some exceptions to this: some colleges provide student jobs so that they work on campus to pay their tuition. Instead of cancelling student loan debt, Congress should make student loan debt more easily dischargeable in bankruptcy again.
AND IMO that’s the biggest frog in all of this. GET THE DAMN GOVT OUT of paying for college, and GET THE PRICES DOWN again.. Hopefully.
Debt isn’t a punishment for sin. It’s a natural consequence of entering into a legal contract in which you receive money now, and pay it back later. A student who starts out his career unemployable and saddled with six-figure debt is a victim of poor advice.
Given how worthless many college degrees are today, the best thing you can do for your kids is steer them away from debt and into a trade, unless they have an aptitude in a STEM field or at least get accepted into a good school that doesn’t offer courses named “— Studies”.
sotheseedsoflibertu2 Comments Above ” Folks Are Dumb… Doris Day, Song Lyrics , ” Folks Are Dumb Where I Come From…. “
There is no clear understanding by the Oppressive Left that a “right” doesn’t mean a “guarantee”…
I worked two jobs and paid my way through an engineering school while my father had a business that nearly went under; my folks had to sink everything they had into their business. Somehow, I helped (for free) them as no cost labor and maybe had to forego frat life and Spring Breaks but a) I graduated with good grades, no debt, and b) my folks survived the Carter Administration….
Nobody ever said I had a Guarantee that I’d attend a college. Only implication was, given the grades, and I found a way to pay for it, I had a RIGHT to apply…