President Handsome Joe Biden announced student loan debt relief for at least 40 MILLION Americans. The Biden administration
- cancels $10,000 in student-loan debt for borrowers earning less than $125,000 per year
- cancels $20,000 in debt for those who received Pell grants for their education as low-income students
- extends the ongoing pause on student loan payments through December 31 of this year
- caps undergraduate loan payments at 5 percent of monthly income
Let’s begin our day with the delicious tears of… Republicans?
Gym Jordan, who you might recall has a bachelor’s, master’s, and a JD degree has something to say about the elites:
The pride of Harvard and Harvard Law, Tom Cotton has something to say about rich lawyers:
Rick Scott, somewhere in Italy on a luxury yacht:
And the award for the most over-the-top reaction goes to amply be-chinned Mitch McConnell’s turtle tears: “A wildly unfair redistribution of wealth toward higher-earning people” – he’s practically singing The National The Internationale*.
If it were a gift to the wealthy, Mitch would support it in a heartbeat.
Republicans seem to think that only wealthy elites go to college (and weirdly take out loans to do so?), and uh, this is obviously not who these loans go to and who might get some relief to the tune of $10K Ameros. FYI, no one is getting a check for $10K.
Now, of course, all of these White dudes are usually elbowing each other to be the front of the line to give handouts to corporations and billionaires, so this sudden concern for the Forgotten/hardworking/middle-class/real American seem, uh, insincere. Yeah, we’ll go with that.
Some of the PPP loan forgiveness from the pandemic never got much of an outrage chorus from the usual suspects
That’s the outrage, right there.
*We regret the error. (amusinglingly, Autocorrect just suggested “Euro” for ‘error’ spelled correctly. Thanks a lot, Apple!)
Mock Paper Scissors 
I guess I was lucky to have put myself through college at a time when it was affordable. Worked on some crap-assed summer jobs, but also had the GI bill back when it made a substantial difference. And no, I don’t resent the loan forgiveness program at all. My daughter who is doing quite well will take advantage of the Pell Grant provision. I only wish the loan forgiveness program was more substantial. There is a lot of economic benefit that will accrue to society and individuals if it were so…
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True, it could’ve been more, but it’s not inconsequential. Something is a lot better than the nothing we’d have gotten were the Trumpists in charge.
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Me too. I graduated with a total of $2700 in student loan debt; also I went to a land grant college in AZ that charged residents $225 a semester for a full-time load. My parents offered me a deal when I went : they’d either py for my books or pay for my registration for four years.
Stupidly I was sure registration would be more expensive , LOL [Narrator: ‘Oh he was a dumb, naïve doofus’]
Today it would cost me (just registration and fees) $6,468.68 per semester.
Fuck those republican assholes. We’re ALL better off if everyone’s better off, even ‘rich elites’.
(who, weirdly all seem to be ‘middle class’ when they start bitching about taxes, or even ‘lower middle class’ when they start bitching about ‘cost of living’
I still remember the wanker in Chicago who got wide wide coverage at the beginning of the Great Recesson complaining about how he and his wife were “just scraping by” on their $450K income, and how unfair it was that mortgage relief was not going to people like them. )
Fuck ’em. They’re just lucky we’re not giving their asses French haircuts…
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I tweeted to President Handsome Joe Biden that he should reset the interest rate of the remainder of the student debt to zero. Let them pay it off but no interest.
I hope someone read that.
Rgds,
TG
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I was an undergraduate in the 1970s, and the government provided grants (BEOG) and loans (NDSL) at 3% interest with 10 years to pay it off, with no payments or interest accumulating while you were in school. This while commercial interest rates were much higher due to inflation (worse than now). So I got a good deal, and don’t begrudge students today getting some help after the government screwed up the system allowing many of them to get ripped off.
By the way, you have Mitch singing The National, which I’ve never heard of. Maybe you mean The Internationale.
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My daughter went to the local jr college and got two small degrees. She paid for it all as she went although I admit it was a lot cheaper than the Cal State colleges. I am so glad she is not in $$$ of debt since she is a special needs assistant for adult students and doesn’t make diddly squat. She was getting some freebees like her cell phone, a small amount of snap benefits and help with her medical but the state has decided that making $1500 a month makes her rich so they cut off her benefits. After her $1000 rent, there is not much left.
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Turns out Moscow Mitch is some kind of turtle-weasel hybrid.
So, median Americans with student loans have a higher income than the average guy? Let’s throw that out there and forget to mention the upper income limits for forgiveness except for the fact that they reach six-figures for the basic piece.
“This is cynical and outrageous but perfectly in character” indeed. Effin’ weasel.
..
Pretty easy for Blue Mitch to ignore the lower income people slated to benefit from this. It’s the group he’s ignored all along.
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This will benefit 40M Americans? Have they factored in the principled republicans who will not take advantage of this offer because of their conservative values??
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A few years ago, Mittens offered students who were struggling to pay their way some advice: Do as he did, just sell some of the stock that Daddy gave you.
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By the way, there’s the interest thing, too.
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Didn’t Mittens suggest that we just take a loan from our Old Man if we couldn’t quite pay this semester’s tuition? Why do student loans exist at all?
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