Did Anyone Actually Get Student Debt Cancelled? We Investigated
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- čas přidán 9. 09. 2024
- The Biden administration has now canceled $168.5 billion in student loans for 4.7 million Americans. Even after the Supreme Court halted Biden’s major debt relief plan, Education Secretary Cardona found legal ways to forgive student debt. Now 1 in 10 borrowers have seen loans forgiven.
To be clear, there’s still more work to do. It took public pressure to get Biden to move on this issue, and it will take public pressure to cancel more student debt going forward.
P.S. If you have student debt, you might be eligible now or in the near future for relief too. Stop by the Department of Education’s website to find out the facts and even apply yourself here: studentaid.gov/
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Reddit thread:
What's classy if you're rich but trashy if you're poor?
Getting government money.
Socialism for the rich, capitalism for the poor.
@@mike_w-tw6jd exactly
@@mike_w-tw6jd This ain't real capitalism. It's an oligarchy.
@@Liam-zw1ek yep
@@Liam-zw1ek it's not "real" until it fits my narrative
The fossil fuel industry gets $20 billion in subsidies and makes trillions of dollars in profit. Loan forgiveness is chump change in comparison.
You're right.
But conservatives oppose any policies that help the poor
@@scifirealism5943they want all the money, and poor people to exploit
@@scifirealism5943 Conservatives love the poor. The poor stay poor and stay uneducated, making them extremely easy to manipulate for votes, while tricking them that XYZ is the source of their problems and if you just vote R "you will one day be rich!" They vote R every time, remain poor, and remain uneducated, and the cycle continues.
To the conservatives the poor are just an easy group of people to manipulate to their bidding.
@@scifirealism5943
BULLSHIT
oil industry produces a product everyone needs, while many of you produce very little.
Let’s not forget Governor Reagan! State University tuition and fees in California was free! Reagan cuts taxes, and cut free college tuition! No problem for the wealthy, but now middle class people took on loans! Then, President Reagan did the same thing to all state university subsidized tuition! Cut taxes and increased the national debt by 187%! In 1969, Medical school tuition and fees at UNC-Chapel Hill was $587/year!
Between student loans and medical debt, there's no way they expect the working class to ever have real assets even after a lifetime of grinding away at jobs.
Reagan's in hades now, repenting his life of sin, corruption, scabbing and terrible movies...
@andromedaspark2241 that's the whole point. They want people to spend their entire lives slowly sending all their money UP the pipeline, not trickle DOWN
Ronald Reagan was absolutely the WORST enemy middle class working Americans have ever had, until Donald Trump.
The Democrats have run California for decades. Why haven't they restored free tuition?
Nobody should be paying a student loan for 25 or 30 years. That’s a mortgage.
Then don’t get student loans. Easy as that.
Buck up buttercup. You knew this when you signed on the dotted line.
@@Byrd21590 Then how do you suggest people get an education to work in necessary careers that benefit our economy, our communities, and support their families? Are we going for free college educations then?
@@Byrd21590 Or maybe you're just advocating for getting rid of the interest rates on student loans? That sounds like a great alternative solution.
Before Reagan college was generally affordable enough that student loans weren't necessary. People act like things like this have been around since the dawn of time and can't image a world without student loans. Yes free college would be awesome, but I'd also accept very cheap college tuitions too.
"Just don't get student loans" as in "just be born wealthy" or "just give up on college and the promise of economic mobility"-- that sucks. We can do better as evidenced by how things were better just a few decades ago
Why do we need to find more and more “legal avenues” to cancel student loan debt but the rich and corporations get billions without a second thought?
@@ertnyot784 the solution to the problem of hand outs is not more hand outs. It is to stop hand outs
well guess what corporations give you stable jobs, with paid PTO leave, FMLA, 401K when the corporation does not make money, employees still get paid, dont take on a student loan at all, make sure you can afford the college save up! why should people like me suffer for your stupidity? dont get into debt for college and expect middle class to pay it,
For them they know a bailout comes every 8 years (when a recession happens)
Poor people steal 1 trillion of our taxes every year
It's about priorities.
People being kept poor is the top priority of politicians
It's even worse when you know that the government can actually AFFORD to cancel the debt but simply choose not to.
TRUE!
It's about priorities.
Yea, but there is also personal responsibility. However, College should be free. An educated populace benefits the person, the country, and makes a stronger democracy. Who wouldn't want that? Hmmmm...who?
@@who2u333 the rich and powerful.
@@who2u333I’m just asking outa of ignorance but wouldn’t that mean more post secondary education required jobs less valuable? and ending up making those jobs pay less?
My $48,000 was forgiven. I originally borrowed $14,000 in 1997.
Wow
How does that even happen?
@@InvisibleHotdog greedy bank interest
@@InvisibleHotdogthe interest on student loans. The government subsidized loans are still very expensive. They are traps to keep generations poor and in a debt cycle. We need change.
Will the default be removed from your credit?
It really boils my blood as a combat veteran who got out and got to benefit from my GI bill hear people get upset that others get to go to college for free or get their loans forgiven. I am glad that people get that no one should have to pay for an education in this country. It benefits all of us if there are more people working and paying taxes and buying stuff to fund the economy not sitting at home eating ramen because they cant afford to live a comfortable life. We pay nearly a trillion dollars a year on defense and most of that money goes to private companies, and we aren't even in a conflict anymore. We need to invest in our people and not the military industrial complex.
Well, there's the US funding Isreal and Iran is making threats, which will make those private companies very happy so they can't afford to help US citizens become educated! So, who join the military if education is already paid for?
Also, Reagan created the college debt crisis because there was literal outrage and fear of an educated working class
Especially with the rapidly changing nature of technology and international markets, entire new industries that grow worldwide in less than a decade.... subsidizing the advanced education of EVERY citizen who wants to learn and expand their employment opportunities should be a bipartisan issue but unfortunately the wealthy have found a way to divide the working class on this issue.
And it should piss you off. Total loan forgiveness is unacceptable. Locking in low or no interest rates would be fine. Calculating the original principal + reasonable interest and forgiving an amount over that would be understandable, to make sure they're not paying 3x loan value in interest payments. Even letting people dischargeable them in bankruptcy would be reasonable. But now my tax dollars went to paying some random persons $90,000 student loans? Sorry but fk that. I paid over $300/mo for 20 years to fulfill my debt obligation, and these fkn people just get to walk away from it?
Yep the poor end up costing more in the long run..itbis cheaper to be a good person
@uddek and 20 years ago, we funded universities so you wouldnt have 90k in debt.
We need term limits for the Supreme Court and stop bribes disguised as gifts
@@loisthomas115 We need term limits in Congress; we could get all debt forgiven if the clowns on the left and the right did not become millionaires themselves off our tax money and insider trading.
the whole system is rotten. and needs auditing and terms limits
Let's start with congress and then the senate. See how that goes and then look at supreme court.
I would like to see term limits all around. And I would like to see the house be more like jury duty where citizens are conscripted to serve in congress for a 2-year term at a time.
I firmly disagree; mandatory service is excessive government control. Even the concept of jury duty is dubious. Similar to how not everyone needs to possess a firearm, not everyone should wield authority over others' destinies. A smaller federal government with fewer powers is essential and would be more efficacious. Less salaries to pay the more debt can be addressed.
My mother borrowed 30,000 in the 80s and became a pre school teacher. She paid her loans every month, got married, raised 5 kids and retired from teaching. When her loans were forgiven for disability reasons, she owed about $40,000😐
Same here.
What kind of APR would cause that to happen? I am graduating from community college with a bachelors degree next week and took out a total of $11,000 in loans with 5% to 5.5%. I haven’t looked into what repayment looks like, but I believe it’s around $100/mo for 10 years.
@@popyallbetter learn to do math ! 100 a month will take some time especially compounded 5.5 percent interest - and don’t miss a payment as late fees will be added and compounded as well .
🤥
@@popyall In my opinion: You can do all sorts of things with such a small debt. Don't you worry unless you'd be trying to buy a house. I bought my car loan out right with $11,000 credit card & the monthly payment kept dropping until paid off. Just look for a convenience check for a fixed interest rate when your credit card is at zero. If you use the same CC they will take from the lower until the 11k is paid off then they'll let you work down the higher interest. And there's other ways to kick the can. Remember once you pay off your student loan that way, it'd just be consumer debt & bankruptcy can wash it in the worst case.
I've had $10k, $15k, $32k & $60k loans not including insurance to secure them & was able to pay them off with a second BS job. All my interest rates were well above 7% too.
$100 a month, man that's an easy pay. LOL
Something that didn't get brought up here: The amount of student loans provide in revenue to the US gov. pair really well with how much government subsidies are given to big corps. Eliminating the debt would mean less money to be sent to big companies.
There are people who have paid back the ENTIRE amount that they used for school, but INTEREST caused many students to still be paying interest on the initial amount without yet touching the principle of the loan. Don't let folks lie about "other people are paying your debt" or whatever. The government student loans are not a "real owed" amount. It just is a bit of white out on a page that can help people spend their money on groceries, housing, stuff with family, etc ....instead of paying a student loan. Its why the economy didn't tank like the rest of the world.
fixing the interest problems is different that debt forgiveness. I'm sure lots of kids would have went if they knew they didn't have to pay it back..
Thank you for explaining this to people
My wife owed $60k in loans and had paid $70k between Interest and Main Balance
She still owed 21k which was the amount they relief for her.
@@beefweiner you're fing awful
@@beefweiner I'm sure lots of people would've started Amazon or SpaceX if they knew the taxpayers would be paying for everything, so what's your point?
We're discussing reality, not your straw men.
I'd be a forever student if I didn't have to pay it back. I love learning. Instead, I find other free ways to learn and it keeps me out of the indoctrination camps. When people stop showing up and paying invisible interest it will be free or near to. That's how it works. @@beefweiner
I borrowed $6000, was disabled but then had to drop out to go to work to survive and couldn’t catch up. So now after 30 years, I’m on social security and still owe over $20,000 after interest. Never graduated or made big money. What a scam for the banksters. Thanks, for nothing.
But since you are disabled, you DO qualify to have your loan forgiven. Call them!👍
My friend had hers forgiven after she was put on disability.
@@joekelley8084 go to the studentaid website and apply
I would have eliminated a few vacations and paid it off ASAP before ANY thing else. 30 years later is muuuuch too long to pay 6,000
@@airdaff4973 luckily you're not disabled, like the other person stated they were.
So, what you would've or could've done, don't apply.
Fantastic video! I have incurred so much losses trading on my own…..l trade well on demo but I think the real market is manipulated…. Can anyone help me out or at least tell me what I’m doing wrong??
Same here, my portfolio has been going down the drain while I try trading, i just don’t know what u do wrong..
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I’m speaking from experience.
I think I’m blessed if not I wouldn’t have met someone who is as spectacular as expert Elizabeth Greenhunts…
Highly recommended 🙌
Wow, I’m surprised to see Elizabeth Greenhunts mentioned here as well. I didn’t know she had been kind to so many people.
I’m also a huge beneficiary of her…
I thought myself and my family were the only ones enjoying Elizabeth Greenhunts
Trade benefits.
Everybody in the swing states (Georgia, Arizona, Michigan, Wisconsin, Nevada, North Carolina and Pennsylvania) should regularly check if their voting registration is still valid and has not been retracted under false pretence like it has been happening to thousands of registered voters in the recent weeks.
Ohio just had another big voter purge, wouldn't be surprised if other states with R "leadership" did as well.
Thank you!!!
No harm doing the same everywhere - just in case, I reckon
It takes less than a minute to verify your voter registration online: please check your status.
Yes, I keep trying to switch to republican and it never gets changed.
It’s disingenuous to claim that this is some kind of new student loan forgiveness. These were existing programs that were dysfunctional and that the administration fixed. I think it’s great that they tweaked and fixed programs that needed to be looked at, and that is totally something to celebrate. But, rebranding fixing as the invention of forgiveness is not right. The promise was to come in and forgive a fixed amount for qualifying debtors. That didn’t happen. They worked hard to at least ensure that what has been in place is actually working now, but they shouldn’t act like these two things are the same.
I was just forgiven my loans through the PSLF program. It is a crazy feeling to have such a burden lifted off over night. Now we can make bigger payments towards my wife's loans.
Beautiful to hear.
@@ryanmortenson9445 so other people now have to bear the debt that you took.
I have a well-to-do friend who expected me, lower-middle class, to be seriously angry that I knocked myself out to pay off my school bills but now other people are getting student loan forgiveness. Yes, I could have used the help, but I am THRILLED for these people! This is a Huge boon for the economy. Anything that boosts normal-people economics is a boost for me. And for well-to-do friend as well, as I pointed out. She thinks I have a good attitude. It's just economics.
i agree with you, i feel the same way, i had student loans, that had to be dealt with. graduated with BS in 2018. my sister went to college as well but her loan was much higher than mine, but she still had to deal with it. like many other students i have known for years when i went to college oh yeah i was also a single parent of 2 daughters (young) while i went to college and running a household and i still had to deal with my loans.
Thank you for caring. It only takes a major life event to never be able to pay them off without forgiveness. Forgiveness was such a relief after decades of worry about it.
Could you imagine if FDR (assuming he was still alive) was angry that a polio vaccine was invented because he suffered from the disease? People have some seriously twisted "values" these days.
Freudian slip on your friend's part possibly? Which is to say your friend thinking you should be angry at others for getting help, or put another way the rich want to divide and conquer and then take everything while we're distracted. Doesn't sound much like a good friend.
@@nisto1518 Yeah, I totally get that. I have wondered over the years whether the friendship has enough value to continue it. She does listen to what I tell her of my experiences and how they inform my opinions. She is slow to change her mind, but she respects the validity of my thoughts. I have seen changes - she's much less quick to be offended by normal life than she was when we met 18 years ago. And she has opened my eyes to the abuses I regularly just accepted and no longer do, because of her insights. I think it's a valuable friendship. 🙂
I'm 29 and at community college.
I've spent 10 years trying to get a bachelor's degree and not only do I not have half of that, I don't even have half of *that* (30 credits).
When I was 18 years old, in 2013, I went to community college. I had to rely on welfare/Medicaid because higher education doesn't offer adequate health insurance.
But because welfare isn't an unconditional cash transfer, I couldn't use my health insurance to take care of my sick mom.
She was sick for six years, on oxygen, from 2017-2023. She ultimately passed away.
The stress from this caused me to flunk out of school, lose financial aid, and not get it back despite the financial aid office knowing what happened to my sick mom.
Screw this POS country
That's not a USA problem, that's bad luck. Sorry you had to go through that.
@@nicolasdacey6955 thank you for your condolences.
I imagine or wish that USA had universal healthcare.
I’m sorry to hear that. Keep your head up. I’m 34. Had a trial at the same age time frame. Not at all the same but the idea of being set back and trying. I get that much. I’m sorry for your loss. There are no words for that. I just want to say you took the time to write this, you still here, and as a random internet stranger uncle / cousin, yeah. F this country and corpo America, however, you woke up today, i am rooting for you, and you can and will succeed.
@nicolasdacey6955 That is A USA problem ya goofball. This is one of the richest countries in the world and it's citizens can't afford Healthcare??? That is a failing that we should be embarrassed about
Please vote Blue, both nationally and locally. The more progressive candidates are elected, the sooner we’ll get to Medicare for All, and the goals people like Bernie Sanders and AOC have been trying to get for years.
Please, do this for ALL student loans! And please create a path so this never happens again.
Don't go into debt with a student loan, learn a skill and get a real job problem solved
Since you want to pay for someone else's loan, why not ask a borrower for a gofundme link so you can donate?
@@eafan48Okay you have fun trying to get a “real job” without a college degree and enjoy the menial income that comes with it. For the rest of us, we’ll take a public education approach. Public education is already paid by taxes - it should also extend to higher education.
They need to lower those interest rates or this will keep happening
@@Dokushin1989 You might want to talk to all the tradesmen and blue collar workers that this channel claims to represent.
I will never forgive the conservatives for striking down real debt forgiveness for all during the pandemic. I was on standard repayment so even with all the advancements made on getting forgiveness, I couldn't apply for any of it unless I switched to SAVE/Income Driven which wasn't necessary for me. I ended up having to pay off the entirety of my loans, but I am sincerely happy to see other borrowers getting forgiveness. I hope for future students these measures are solidified and codified, and potentially expanded if the culture allows for it.
Because they're heartless
I’m glad it’s happening for them.
I didn’t go to college because I was terrified of being crushed under loans, and I wake up at 3 am to work in a warehouse.
I had dreams.
3rd world country with a gucci bag
It’s absolutely ridiculous that people pay on these loans for decades and end up owing more and more and more than the original loan.
The more they pay, the more the balance goes up
Even predatory car loans don’t do that
The only candidate committed to forgiving accrued interest AND eliminating it going forward is RFK Jr. It's the best solution to prevent resentment amongst those who do not go to college versus those who do.
yeah people leave school and cannot do basic math, it is kinda crazy
@dao8805 one of the candidates is literally the VP of the administration responsible for this video?
That's what the simpletons who say "I'm not paying someone else's loans!" don't seem to understand. The loan has been paid over 20 times. The loan is satisfied. You're not paying any one else's loans, genius. The predatory interest rates are what need to GO AWAY.
@@Lucky11843 This administration has dragged out loan forgiveness for FOUR YEARS when they could have done it on day one and freed borrowers up to invest in homes and their own children's educations instead of having this hanging over their heads all this time. They are only doing it now because it is election season.
This administration had both houses of Congress at the beginning and had the authority under the Education Act to erase every dime of student debt because we were in a national emergency with covid. Even his own party begged Biden to do it, but Harris stood by silently while he messed around and finally submitted a plan two years later after he lost the House and put it under the CARES act which he knew would be challenged in court and he could use that as an excuse to keep people in debt to the government because he NEVER intended to honor his promise to forgive at least 10K for each person. It's only about getting votes, not helping ordinary people. I have followed this since Biden campaigned on it and he broke his promise by purposely sabotaging his own plan by filing it under the Cares Act instead of the Education Act and always waiting til election season to do anything. No way is Harris getting my vote. She wasn't even chosen by the people in the primaries. She was SELECTED by the party power brokers to be their puppet and she happens to be a woman of color. That is all they care about. I want an HONEST president who cares about ordinary people and is willing to EARN THE PEOPLES; VOTES. The only one who fills that bill is RFK JR.
I feel both grateful and stupid after watching this. It only took a 10 minutes video explaining who got the debt forgiveness and why got me to change my stand on this issue. THIS IS THE POWER OF INFORMATION! Lesson learned.
This program was not balanced - it is Very one sided.
It fails to address the simple Fact that Everyone can go to Community College for free or close to Free and then move on from there if they wish.
It Also Fails to Address all of the Overpriced "Nonprofit" Private Schools who charge way too much for the degree you get.
Poor choices are why people are in Debt. Period.
I went to DeVry during their sweet versus cordona years. I still owe 45,000 according to the last thing I checked I've applied several times the college is unaccredited and my degree is worthless
Be grateful that you didn't go to ITT.
Have you tried contacting your Senator or Congressperson to advocate for you with the Dept of Education? It's their job to help constituents with problems like this.
Devry is one of the biggest scams in education right now. It’s disgusting that they’re allowed to even function
Devry/ITT loans are supposed to be forgiven. I'd reach out to the DoE about that.
@@AltruisticWarriorare they forgiven if the student took private loans? I'm wondering if that's why.
The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
Gold might crash in a liquidity crunch, but many precious metal holders are prepared for this and unlikely to be forced sellers. The paper market would tank and possibly collapse. Hearing from an experienced investor who has overcome adversity is motivating. It can be scary when your portfolio turns red, but if you've invested in strong companies, stick to your goals and continue growing them
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
impressive gains! how can I get your advisor please, if you don’t mind me asking? I could really use a help as of now
My fiduciary is Jessica Lee Horst. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.
Some people are so angry and hateful about this thing that helps such a huge number of average people. I don't know why people are so evil.
They have nothing going for them, so they’d prefer to keep others down with them.
Why must somebody be Evil to not want to fork over the money to GREEDY people?
I worked my way through college. Went to community collage then transferred to a State School.
Why am I Evil because I made Good Choices?
If you Made a Bad Choice - you are Very Greedy, Perhaps EVIL, to Expect me to pay for it.
I worked very hard to do what I did - EVERY other student in America can do the same thing I did - They Just Don't Want To.
Don't force me to pay for Greedy Choices made by others.
@@Pipping-Hot You’re evil because you’re selfish. All I heard in that rant was “me, me, me”. It’s absurd to think you work harder than others, because others work harder than you and still don’t mind helping people with their student loans.
@@Pipping-Hot You're not paying for it. You don't understand the complexity. We are in a time of change in society. There are so many problems with the way it is landing on people, to take out huge amounts of debt, naively being told that it is the only ticket to participate in America, and not live in a van down by the river, only to graduate and not be able to afford the cost of living with that college education required job, that doesn't pay for the loans. Its a broken circle. Good for you that it worked out for you.
I'm so happy for those that have benefited.
When the rest of the developed world get free college education, & then are able to work within the us, they have an advantage over us from the beginning. Imagine not having to pay $30,000 to read from a book, show up on time, & learn how to pass more tests. How does education cost so much, because in America the prices for books are all for profit, when generally they update very little in between editions & charge free information for $200 a book.
"Free college" in other countries doesn't work the way you think it does. Most other countries have strict eligibility requirements for college. They only allow for the highest academic achievers in high school to go to college. In the USA almost anyone can choose to go to college.
@@personnesenki4521 "College" in the modern world doesn't work the way you think it does. No longer is space a limiting factor due to remote learning. It allows not only the highest academic achievers in high school but also the lowest to attend college. In the world almost anyone can choose to go to college.
@@Ou8y2k2 You don't think that colleges in countries which offer free college have also moved beyond the limits of physical space?
Yes of course physical space is no longer a factor, but you have to ask why do countries which offer free college limit that opportunity only to the highest academic achievers?
@@personnesenki4521 They don´t do that. At least Germany does not... or rather not entirely. Medicine is one of the exceptions where you need really good grades to get a spot at any University right away. But if you w8 some time or become a nurse first then you can still get in. If you really want to do it, there is a way! Unlike in the US you also do not have to go to university to have a successfull life either. The income of many non academic jobs like roofers or people working in car factories is actually pretty good.
@@grischa762 You *don't* have to go to college to make good money in the USA either. This channel claims to support blue collar union workers, with most of them getting good wages and benefits thanks to their unions.
There is a common fallacy in this country. Just because something doesn’t directly benefit you, does not mean that it isn’t worth voting for or that we shouldn’t do it.
I make 150k a year, I grew up on food stamps. I’ll never need food stamps, free state funded counseling etc ever again. I used it and it helped growing up. Now I pay my fair share as an adult. I will always vote in favor of those programs. It will never once have been beneficial for me to vote for these programs since I turned of voting age. Think about more than yourself when you vote.
You are a perfect example of the truth in when we lift up others, we lift up the entire country.
I paid off my student loans and I approve of student loan debt forgiveness!
Same😊
If you wanted to pay for other people's debt, you didn't have to wait for the government to take your money by force and give it to the borrowers. You could have given your money to the borrowers directly.
@@maximemeis2867 These student loans are like predatory loans. It takes forever to pay them off. The interest rates should be regulated, and tuition in some colleges should be more affordable for those who want to go for their masters or doctorate degree.
I just paid off my student loans. Am I mad that other people are getting their loans forgiven? Nope. Just because I went through it doesn’t mean I have to wish it on others
Please pay off my House.
Congratulations on your new start in life! Live long and prosper!
I don’t know anyone that has actually had their loans forgiven, and I know a lot of people with student loans.
I paid off my student loans and I still believe people should be forgiven because many were deceived into it. Many are also 100% eligible yet the government kept rejecting their applications for years. Hopefully people can see we need to support our education system and not hand it to corporations that seek to turn education into another cash grab
Between my wife and I, we had about $150k forgiven. That is life changing! We now can afford a new car and home improvements.
Don't blow the gift on a new car. Live in austerity and below your means for a while out of respect to those who paid their debt.
god, i see what you have done for others. please make this universal for all 🙏🏾
God has nothing to do with this. the DEMOCRATs do. Get real.
Yes!!!!! ❤🎉
I don't even have student loans, never have! But I'm thrilled for anyone who got forgiveness
I really hope this puts a bridge between the gaps that have affected many students in the country
My wife and I took out an $80K mortgage on our house to help with our daughter's college education. Now I'm supposed to pay-off other people's college loans as well? THEY took out the loan, and THEY are responsible for it. It's called personal accountability. If people get their student loans forgiven, who's going to pay me back that $80K? I'm totally serious. TELL ME how to get my $80K back. I'd also love to overpay for a brand new pickup truck for $100K and than have all of you cover the cost for me. How 'bout that? If you don't like that then please tell me why.
YOU are not paying off other's peoples college loans. This is the BS Republicans are telling you, but it's BS. Think about it.When a corporate conglomerate has one of its many companies go bankrupt, they write it off as a loss. Does anyone pay for it? No. Trump's a billionaire and paid only $750 in federal taxes on year because he wrote off so much in business losses. Did we pay for those losses? No, we did not. Granted the country lost the tax revenue, but no one actually GAVE any money to anyone to pay off the bad debt. The banks may have suffered, but they're the ones who gave a crook a loan, so not sorry for them. And if you could afford to mortgage $80k of your daughters education, there are millions of Americans who'd give their right foot to be in such a position. Garnish her wages if you want it back. so badly. Jeesh.
@@marvelouslife1309 That was a lot of mental gymnastics to justify an very unfair system. He went into debt to pay for his daughter's education. And because he mortgaged his house and did not take out a student loan he can't get debt forgiveness. You just think he deserves it because he had some collateral to borrow the money, so he was probably rich so he should pay. What kind of sick mentality is that? Marxist mentality at its finest. You want society to take the hit to reward people for making bad financial decisions and then let the people who are responsible fend for themselves. Trump having low taxes in a down year has nothing to do with this, you're just trying to justify this nonsense to yourself. You suggested he garnish his own daughter's wages! Sickening! How about you take that same standard and suggest that the government garnish wages to make the debtors pay their student loans back like they said they would?
Cancel ALL student debt!! 👍👏🔥🔥
cancel ALL debt
nesara/gesara
mega
Yes
pay back what you owe you freeloaders
We are the only developed country in the world that not only makes its citizens pay for education, but makes a profit off of it !
SAVE and PSLF have made it possible for me to provide for my family. I really hope the Supreme Court doesn't take this away. It will crush me.
I never had college debt. The state paid for my tuition at the county college and I collected unemployment if I went full time and kept good grades. At age 45 I had a 3.89 GPA (Algebra of course). And for the first time in my life, I got paid what I was worth. My education didn't help me do a better job AT ALL. My experience, natural capability, work ethic,and intellect is what made me an asset to any company. But companies want you to have a college education. So when Biden first announced student debt forgiveness, despite being home alone, I was on my feet clapping and yelling 'Go Joe!". I am of a firm belief that an educated country, is a prosperous one with the best potential for greatness. And no one should be cheated of reaching their full potential due to economic status. That's robbing the country of its potential of greatness and makes no sense. Republicans want to do away with department of education and replace it with 'conservative values'? A recipe for an economic disaster that will last for decades. Only chance we'll have of a recovery would be 'Gods will'.
Great news guys, education should be a human right
An educated proletariat is a threat to the status quo benefiting your economic overlords.
Going to Uni doesn't guarantee an "education".
@@occamsshavecream4541 not a reason for it to be out of reach for most people unless with crippling debt smh
I was cheated by CEC with false promises in 2006. I never got any justice for that. I would have been better off not going to college at all. I'm exactly where I would be if I never went there.
Who? Yeah no one cancelled my student loans. I still owe more than my yearly salary is for 2 years & all the interest through the year is capitalized to the principal which basically makes it impossible for me to ever pay it off. The timing of this coming out seems very political. The title makes it sound like it’s a new thing that just happened & a bunch of people received student loan forgiveness recently but that’s not true. I never had one dime of my loans forgiven! Not 10k, not 20k, not one dime.
Did you apply? If I'm not mistaken, you need to apply. Research how to in your state. I know they don't mention it in all the advertising about the debt relief, probably don't want the sites to crash. But maybe if you put a little effort into it, you'll find yourself among 'the lucky' ones! Best of luck to you!
Never mind the SCOTUS, they should just ignore the ruling and eliminate all the debt. Let the clowns filing lawsuits try and claw it back. It’s numbers on a computer. You hit the backspace, it’s gone. Period.
The interest on those loans should be forgiven not the principal amont itself...
Yes, i may agree with the interest being paid, but like you, not the principal. They got themselves into that debt themselves!
@@kananimiranda3376 the principal amount is kinda payable...
But the debt isn't being cancelled, you're just making someone else pay for it.
I hear this reply so much when it comes to money spent lifting up the middle class. And it's BS. Who is this 'someone else' you're referring to now? Companies write off debt all time, who pays for that? Billionaire Trump wrote off so much business loss he only paid $750 in federal taxes on year. Sheesh. Gotta come up with a more substantial argument than this tripe.
Don't forget it's the governments fault that the tuitions got so high to begin with. And that hasn't changed. This is called pandering, not progress.
Don't blame the government for college faculty greed. Community college where I live, spent !2K on china for the convention hall. DISHES for cris' sake. Then a 89 year old pipe burst because they didn't replace it and caused about $140K in damages. Greed rots everything.
When is there going to be a 'loan forgiveness' for the tradesman?
Republicans overturned $10000 in forgiveness for all Americans in the Supreme Court. Vote blue in November
@@oscines2170 Not True - STOP Lying.
Biden Did Nothing for Those with Private Student Loans.
NOBODY should have student loan forgiven. Play stupid games, win stupid prizes
Unpopular opinion: no one should be getting debt forgiven INCLUDING banks, big corporations, etc. justifying student debt with the argument that others take government money does not solve the problem of TAKING GOVERNMENT MONEY. Remember that that is YOUR MONEY. I think education should be free and I also think government needs to stop buying votes by having an open checkbook to rich and poor.
Still waiting on 10k of my federal loans being forgiven, my parents made too much for good aid, but not enough to pay for my school.
Permanently disabled here, our loans were supposed to be automatically discharged. THEY WERE NOT. My bill is $380/month on a $1300/month benefit. I cannot even afford housing, what makes them think i can pay back loans for a job skill that doesn't even exist any longer?
contact your state and pester the heck out of them. Keep calling. Be kind and patient and PERSISTENT. Eventually you'll connect with someone who is actually going to be of some help.
i'm sorry, but this is dumb. we're being played again.
this isn't a true debt cancellation... it's a pay-off. we just gave the banks a massive payout. just like bank '08-'09 bail-outs; instead of directly saving homeowners from foreclosure, the banks will take this debt off the books and use it to fund more capital investments. a "cancellation" would be to tell the banks to f right off.
least this time some of us get somethin in exchange? but, each new class/semester/degree we sign up for, still costs too much, continues to rise, & will put us right back into debt. continuing the cycle & fixing nothing.
Partially true, but not all student debt is owned by banks. Much of it is owed to the government. Sure, the Dept. of Education could just cancel it straight up right now, however right-wing lawyers and judges will continue to litigate it for years and possibly come up with some bullshit justification to block it again, especially if Trump gets back in office. Unfortunately it's not a simple issue.
Benefits a few and everyone else is still getting screwed. It’s all virtue signaling and trying to get votes is all. they were iffy on it for a while and then it gets passed a few months before a major election? Yeah that’s not slipping by me
Perfect is the enemy of good.
Well said, I'm glad someone else sees it for what it is!
It will ended up being paid by the poor in the form of inflation again. Because our national debt is climbing higher and higher.
I had a well off buddy start bitching about people getting their student loans, saying, if i got a loan would mine get forgiven? I asked him if he had ever heard of PPP loans. He said no. I said let me tell you a story about loans for rich people.
I haven't seen a damn dime of my student loans "cancelled"... over $200K in loans, haven't been able to make a single payment since my life was stolen from me in March 2020. I WILL NEVER PAY THEM ANOTHER DIME FOR AS LONG I LIVE.
FYI: This video and channel are Dem party propaganda timed to snare your vote for the 2024 election.
200k man these elite colleges aren’t worth it
Not a cent of mine has been forgiven despite being a public school teacher for 7 years now.
If you can prove your loan is predatory in nature, apply for loan forgiveness. Pester the powers that be that can help you. A little persistence and patience (and politeness) can be a very good grease for those wheels to turn.
Cool so they put a band-aid fix on an ongoing issue… how about regulations and tuition caps?, a stop to predatory loan practices? A restriction on loan interest? This only benefits colleges that will continue to do these shady practices with no repercussions..
You can't help anyone.
old, sick, young, poor, without helping
me first.
Humans being exceptional.
I didn't get my debt forgiven.
"Forgiven" just means that someone who didn't voluntarily take on the debt, and in no way benefited from that debt, pays that debt. No one sees a problem here?
Companies write off debt all the time and get a deduction on their taxes. Billionaire Trump wrote off so much debt he only paid $750 in federal taxes. Who paid for all that debt being written off? It never ceases to amaze me that people complain when tax dollars are spent on the actual people. paying them, instead of paying subsidies to corporate conglomerates who avoid paying as little tax as possible. So no, INTELLIGENT people don't see a problem here because we know what's really going on in the world and don't believe all the BS we hear from the media.
meanwhile homes, grocerys, healthcare and everything els is out of reach
Big hole in your news feed. Research Lina Khan, head of the FTC.
Where's my free money?
In high school I worked part time, paid taxes on my wages and banked the rest.
I went to junior college for two years to save money. It was also all I could afford.
I took a year off to work full time and earn more money.
I enrolled in an in state public university and finished my bachelors. I did not want
to attend that college. But, it was a good school and affordable.
I graduated debt free. But I also had a 3rd rate college experience too.
I am sorry these fools got caught up. If they had followed the same path as I, then they too would have a degree and no debt. It would not be all they aimed for. Life often ends up that way. You do not get 100 percent of what you aim for.
I’m $100,000 of that due to TPD. Thanks to Biden I don’t have to pay taxes on that as income.
TPD had been around a shit ton longer than Biden.
@@punkagrrlzero Yes, but before you had to pay taxes on it as if it was income.
@@raven44012 And you should pay taxes on it.
@@Pipping-Hot I’m already living below the poverty line thanks to an illness I have no control over. You want me to pay those taxes with what money? The money I hoped to earn with that degree that has disappeared along with my health. Learn a little empathy for people, especially for those that tried to do everything right and by no fault of their own end up screwed over.
I am one of the lucky people to have my $40k of student loan debt forgiven. I received that letter about a month ago but a few days ago I received 3 checks from the treasury which said it was for my student debt forgiveness. The 3 checks total over $11K which my wife and I couldn’t receive at a better time.
I should also include that I went to ITT Tech which I think the government shutdown. They may have refunded what I had paid towards my loans.
congrats!! so happy for you
They keep forgetting mine! 😂
The majority of soldiers enlist to get free college. If there was free college in America, we wouldn’t have a military. Thanks Military Industrial Complex!
Don't forget why you had such insane student loans, don't forget he didn't stop the bad practices of student lenders, don't forget he only did this for you and is not preventing it from happening in the future. If you truly feel victimized by your student debt don't let it happen to someone else vote for the candidate who wants to reform and enforce good business practice. Vote out of hope for the future not out of fear of the wrong candidate winning ❤.
That would be RFK jr.
I.agi g making student loans NOT government backed. Then you would see the schools lower their rates.
How can they do that and say that Social Security and Medicare are in danger?
Because social security and Medicare will be defunded into extinction. Lack of money was never the problem.
they don't say that right wing capitalists say that
if you're gong to pretend to care about stuff learn it at least
@@Praisethesunson A smart person ALWAYS follows the money. Hopefully , it will be safe for the next 4 yrs (or maybe 8).
@@russ7414 because one side of the aisle is doing everything it can to ensure they fails so their private interest donors can profit from it.
Because politicians want to extract the votes from younger voters for decades to come. Old folks are of no use to them.
Why have I only recently found your channel??? You should be on public television and in the faces of EVERY American....
What a huge gas light. Debt cancelation isn’t a real solution if it doesn’t apply to all.
Exactly
We're glazing up Biden for doing 1/10th of what should have been the standard approach to education 100 years ago. We need to raise our standards and expectations.
What about students that sacrificed to fully pay off their debts or get through college debt-free?
Loan forgiveness is a huge middle finger to those that took their due diligence and paid their dues already!
Exactly! This was pure socialism. Not only did we pay our own college fully, now we, as tax payers, have paid off some total stranger’s college loan. It sickens me. They may not even have graduated which makes it worse in my mind.
That is not how any of this works. Nearly all of these people have paid the amount of the principle and a good portion of interest on the loans over time. In most cases the loans for the amount borrowed have been paid. What is being forgiven is interest, money that never even existed until it was written into a loan. Many of these loans are extortion. It's not like a car loan where you are given money, told how much you need to pay every month and have an end date. Also, there isn't money that has to come from somewhere because it isn't getting paid to anyone. The government isn't handing out checks. They are saying "hey, this was really predatory and you should not have 200,000 worth of debt because you borrowed 20,000 when you were younger and have now paid 60,000 on your loan so let us use this white out and you're good to go".
@@jaymedomejka1977 Hey Fairytale Land Boy. If any of what you said was actually true, there would be No Interest on home loans (the government owns most of them).
None of these Loans are Extortion - they come from the US Government.
@@Pipping-Hot First of all insults don't work on me and second of all do some digging around to actually find out about these predatory loans. It's the only loan type that never ends. Even a mortgage, as long as it is a fixed rate and doesn't get refinanced, has an end date. You know exactly how much every other loan in the country will cost you when you sign the paperwork. Not so with student loans.... it's a money printing scheme that hurts regular people. You should never be able to borrow 14 grand and have it turn into 70 grand under your nose while you are faithfully making payments.
this is a band aid on the larger problem of how americans handle their education system. Still, well done.
I have student loans from before 2004. These were called Stafford loans. I believe that they have forgotten about us older people who have the old loans.
Nothing forgiven for me. As per usual.
Policies like this, everyone benefits, including Republicans. Instead of giving billions to corporations, give it back to the people.
It only benefits people who took on the debt at the expense of every taxpayer that did not. That's evil.
How much in welfare does the trillion dollar corporations receive? Yet corporate politicians whine about and refuse to help the working class that actually needs those dollars. "Creepy and very weird" Tim Walz
Is this a scam? I haven't seen any of my student loan debt cancelled and I am struggling terribly. Who are they targeting? Certain people in certain parts of the country????
Are you on an IDR plan or do you qualify for PSLF?
@@33percentgod That is NOT student loan forgiveness. The people in these videos are/were not on any of those plans to have their student loan debt wiped away.
So he's basically saying that half of college educated students don't know how interest works ❓🤷♂️❗🤦♂️
Why is this the first I'm hearing about this? I have to check and see if my debt has been cancelled
Nope, doesn't apply to me, but I'm still happy about it🙏🏼
@@LiquidDemocracyNHIn my opinion: Part of it would be a lie. People who have done community social service as employment for a specified time had already qualified for debt cancellation. It wasn't Biden's administration that came up with it, it had existed since the Bush senior administration.
It's an attempt to cast a positive light on an otherwise failed administration in a ditch effort to buy emotionally biased votes.
If you hear what has been said, the video openly blasts the US Supreme Court because Biden's administration somehow thinks they're above the other two branches of governing power. And the fidelity of the financial system by manipulating market values has lost attainable capital that ultimately impacts interest rates & equity. So the housing market is coming down in order to preserve equity otherwise realistate will hold no financial capital in terms of an asset becoming a liability to the US economy & Comptroller's main objective.
What the government won't tell you about loan forgiveness. If you got your loan forgiven, it will be converted to income and you will receive a letter in the mail from the IRS for the taxes you now owe them. If your loan was $100k or more guess what, now you have to pay taxes on it. IRS can garnish your wages, take money from your retirement to pay what you owe, etc. Was a loan forgiveness really worth it?
I haven't gotten my loan forgiven. WTF
My student debt of $56,000 was canceled!!! I had been paying on it for 25 years!
I don't seem to be getting forgiveness. Not sure if there is something I need to do if I want to try to qualify.
Me neither. The forgiveness is widely means-tested, so it’s no surprise millions of people have seen nothing change, while some are getting everything forgiven.
@@andrewzcolvin I mean I haven't had a full time job ever in 10 years since graduation and my average income tops out at ~15k/year so I expected to qualify for means testing.
This is why they will raise taxes on high earners😂😂😂
Good
It means nothing if you didn't owe anything.
Thank you for helping the permanently disabled ♿
Why should any loan be forgiven at the expense of the taxpayer. Pay your own way.
Absolutely love it! You can't LIE to people about their debt terms and call it fair.
They might be able to lie in the short term, but just like alex jones, we will sue the shit out of them so aggressively they won't be able to afford a dollar menu meal
Most of this forgiveness isn't immediate. People who apply for forgiveness have to fulfill the terms of the agreement for several years to qualify for it. And when they do receive forgiveness, on April 15th most have to pay income taxes on the portion that was written off.
It's been far too long of a wait, but I'm glad people are finally getting some relief.
Student debt repayment is not just about helping individuals. Several states have colleges as their biggest employers.
I finished paying off my student loan during c19 after defaulting and consolidating where I paid 500.00 a month for many months while doing without, working extra jobs and not saving any money then went into payments had no children at that time now homeless with child but paying for others student loans will they pay 10,000 for my child to go to college
Elizabeth Warren says no College for your Kid.
I paid off my college loans back in 1996, it wasn't easy but eventually I did get some satisfaction for my efforts. Going to college didn't lead to a better job for me, what helped me was getting my Commercial Drivers License. The vocational training was a lot more affordable.
How about this ? We got one guy in the government actually doing his job. Thanks bud
lmfao
they have been able to forgiven student loans throughout the whole presidency, don't let them make you think other wise