Biden forgives $7.7B more in student loans. Can you qualify?
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- čas přidán 21. 05. 2024
- The Biden administration is canceling an additional $7.7 billion in student loan debt for 160,000 American borrowers. This is the latest round of loan forgiveness after Biden forgave $6 billion of debt at the beginning of the month for Art Institute students defrauded by the organization and another $7.4 billion for 277,000 borrowers and SAVE program enrollees in April.
Yahoo Finance Senior Columnist Rick Newman explains the steps to determine whether borrowers can qualify for loan forgiveness after the Department of Education extended its consolidation deadline from April 30 to June 30.
#news #studentdebt #stocks
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There is no free money
say that to the PIP loan forgiveees
If you are rich you get lots if free money and favors from the government.
😂😂😂
@@odnostalgia1 PPP loans were given to small business in the midst of a pandemic, which is vital for the economy in the long-term.
This is what happens when a loser is desperate for votes but doesnt know how else to get them
No. We are about to have severe issues and he is freeing up the loans to get people to spend money in the market. Those sales will create taxes for the government
@@OmarOsman98 Nobody is spending money in his terrible economy.
@@spookrockcity it’s meant to do that to safeguard as much as possible about the incoming debt that the government will take
@@spookrockcity Of course people are spending. The government will have to raise interest rates to balance the inflation
Bidos a Loser😂😂😂
It's not his money to give away... especially as a political stunt
Why not hold a university’s accountable for excessive charges and requirements. Perhaps they should hold back their half million dollars of lobbying money to politicians and invested in their schools.
And how about capping the salary of university football coaches?
Totally agree with this. I know to many over the years who in their last semester when the college told them some previous courses were no longer accepted. So they'd have to take at least another semester to graduate. Thats a fing scam.
Campaigning on my dime should be an actual crime. I’m so tired of paying taxes.
I was told that the taxes we pay go to shelters , fix roads , goes to hospitals for treatment 😢
I don’t mind paying taxes if those monies are put to good use, but not for giving my tax dollars away to foreign countries like Israel, Ukraine, and likely a dozen others
@@wanderingquestions7501 I’m not. I want all my money. These people in office and humanity in general through history proves that governments always become corrupt and eventually fail at the cost of the people who built it.
Where is he getting the money America is already bankrupt with 34T in debt.
Same place they get $ for Ukraine 😂
HA! I was just getting ready to make the same Ukraine comment! You beat me to it 😂
He is heaping that debt on the backs of the very students he claims to be giving relief too…That’s how dumb the majority of this next generation is.
Everyday taxpayers.
@@WesleySnipes3568 tell us you don’t know how the federal budget works without telling us
It’s not forgiveness. It’s passing the debt to everyone else.
No different then building a useless wall 🤷
@@coryharder191 no us taxpayers are paying for people who should not get a loan if you in school
@@coryharder191Lmao ! National security is not the same as buying votes from mooches.
Try again….
The orange gringo would have us paying for his legal fees or bailing him out of jail if he could, so at least it’s going to a lot of people and not just one 🤷🏼♂️
@@coryharder191 not true. We ALL benefit equally from a secure border, not everyone benefits from this bs.
Why the GOP House of Reps has not impeached this man is unbelievable.
Don’t lay blame on House Republicans, they have the majority of seats but not the 2/3 majority votes needed. Besides, any Bill to stop Biden would get shot down in the Senate if not vetoed by the President disabling it from stopping him.
It wouldn’t make it to congress
@@halo129830that doesn’t makes sense. An impeachment solely involves the House not the Senate.
I don't know why Biden hasn't gotten impeached. He's making it too easy for poor Americans to get an
EDUCATION.......
That Biden crime family.
And his son has drug problems.
What the heck.😢😮😢😮
What a president can't help Americans out unless they're uneducated?
Remember he's not canceling their debt he's just passing it on to we the taxpayers.
No, this frees up people to spend money on other things. The government will get more in taxes. This is counter the massive debt we are about to take
You know what else he passes along to taxpayers? Court ordered child support. They can't be bothered to enforce against able bodied parents (mostly fathers) and tell the custodial parents to apply for TANF instead. Meaning that because the government can't even enforce it's own laws, the taxpayers are burdened with more.
I never complained about paying taxes. I was glad I was able to work.
I still pay taxes everywhere I shop.
At thrift stores, I pay taxes on items that have been taxed over and over .
I pay taxes on food, clothing, etc.
Jesus paid taxes.
These college k7ds pay taxes and will continue to pay taxes through life.
It is part of the human experience.
No one forced those adults to go into debt to get a degree. Unlike taxes which their is no choice
@@OmarOsman98 taxes from people who earn 18$ per hour working as gender therapists?
I'm PISSED !!!!!!!! Another 7.7 BILLION for a bunch of cry babies and I CAN'T GET A LOAN FROM THE USDA TO BUY A HOUSE !!!!!! 🤬🤬🤬🤬🤬🤬🤬🤬🤬🤬🤬🤬
I can't get a loan to buy a house either. I'm 42 years old and there's no way I will ever own a home. I took out student loans. I pay on those student loans. I would never be eligible for those to be repaid, but I have no issue with American tax dollars going toward helping Americans. I'd rather that than 92 billion be sent overseas. The money is going to be spent. We are going to be taxed regardless. I would rather our money be spent on American citizens, veterans, honestly, the middle class and people who are suffering. Hell. I would even think would be a great idea to help people like you to get a home. Most of us who went to college, did so because we didn't realize there were any other options. It was hammered into our brains that if we did not go to school, take out these loans and further our education, we would be failures for the rest of our lives. We would be destitute, no one would hire us and then we began to see it. There were so many companies who won't and still won't hire unless you have a bachelor's degree. They didn't come to the school and teach us about the trades or anything else. I think kids need to stop being indoctrinated and to believing that they have to go to college to be successful. I think that needs to be at the top. I also think they need to invest more in the kids working in the trades and things like that
🙉 I'm shocked really! There are 10 to12 programs available to help ppl with down payment ..... 😳.....
LOL Why would the department of agriculture give you a home loan when federally the FHA handles housing? ROTFLMAO 😂😂😂😂
Stop crying
Nobody can but yet this fake ass president in the oval office well, guess what he wants to buy votes again and he’s been doing this for three years in a row and every time he’s been shot down and he’s trying to bring it back again insanity
I had to pay my student loan… I want my money back now… this is not fair.
Amen to that!!! I want a refund because I'm a taxpayer too!
Yeah , no … if everyone got a refund it would cost even more in taxes. Stop crying already.
Yeah right
Buy votes much?
Look at how many college students are saying they will vote for him just for this. This is one of the most disgusting political moves in US history.
We need to all stop paying taxes.. this is ridiculous.. they just take it and do as they wish
With 87,000 IRS agents on the dole good luck with that
7.7B for 160k ppl seems like only people who went to Harvard or Yale. Not to the supreme courts have blocked this before. Why is he still trying to do this?
He's losing the young vote. It's a bribe. Illegals and bribes are all he has left in his bag of tricks.
Having worked full time (nights) while attending college full time away from home, to finance my housing as well as my school expenses as a disabled student . . . I do not agree with this.
I can't qualify because I actually PAID OFF my student loans ALL BY MYSELF...
Hahaha Biden says gfy tho 😂
Let's go brandon
ALL BY MYSELF 🎵🎵🎵
You don’t understand. We are in an election year and potato head is desperate for support from the young and the gullible.
I paid off my student loans decades ago. Can I get a refund? What about my grandchildren? Will they get to go to college for free, too?
I don't think you realize how much has changed in the decades since you've paid off your debts. College expenses have risen exponentially, loan companies are forcing students to take on predatory debts in order to even attend these insanely overpriced and expensive schools. You can't do anything now without a degree and in order to get a degree you have to go tens of thousands of dollars into debt in order to be able to get one. My mom graduated from college just before I was born back around in 2007. She has been paying off her debt every year since then. For years part of her paycheck went to paying off her school debt. She has paid off the original amount of her debt, but it meant nothing because due to predatory interest rates her original debt is basically still the same. THE INTEREST OF HER LOAN IS NOW THE EXACT SAME AS THE ORIGINAL AMOUNT SHE TOOK OUT!!!! THAT IS FUCKED UP!!!!! And the fact that in your ignorance you can't seem to grasp that stuff has changed since you've paid off your debt in the 70's and that we need to change the way everything works rn in relation to University prices and student loans is unacceptable.
@@calebfouts7118 Except needing a college degree is just a lie. I own my own business and do quite well without a college degree. College is not necessary, and public schools pushing people towards college and indoctrinating kids into thinking they need to have a scrap of paper to make something with their lives is a huge problem. The price is high because demand is so high, but because demand is high, the jobs you get with said degrees get flooded and wages stagnate. The problem is quite simply that people like you spread the lie that this is somehow a necessary expense put on people against their will somehow.
edit: also none of the above changes the fact that this is quite clearly political bribery using money that would be better off going back to the taxpayer to stimulate the economy and make life better for everyone instead of those who can already afford to go to college in any capacity. Those who can't afford it can earn it through scholarships. The current system is completely fair, but paying off the debts of those not skilled enough to earn scholarships is actually a detriment.
@@calebfouts7118yes you CAN do things without a worthless degree.
@@calebfouts7118 then the problem is the loans and the universitas cost
many people paid there debts and worked 2 jobs how is it fair for them when others that refused to work get there depts forgiven
@@calebfouts7118Then what about mortgages and car loans? Can we forgive those? The cost of those have risen over the years.
CROOK CROOK CROOK
What bs biden cant do this by himself lol
And cant fund social security.
You want to know where all the money we paid in is? Right there.
PPP Loans and Ukraine actually.
@@DrMFoster7 and much more
Those who signed the dotted line to pay those loans should do so. Don't shift the debt to those who didn't sign.
The unsecured debt should be shifted to the billion dollar colleges and universities and taken out of their endowment funds.
@@interestedparty3125 Why should the colleges be charged for something people voluntarily signed up for? A degree is not a necessity and therefor can not be price gouged by definition. You might as well complain that jewelers are scamming people.
I was Stoned🎉🎉🎉...I don't Remember Signing😂😂😂
This sends the wrong message to society. If you take out a loan, you should be accountable and pay it off.
Who ends up paying it????
You and me.
The majority of this is public service forgiveness using rules that were already there and really have nothing to do with Biden, the whole thing is a big scam to make it look like Biden is actually doing something but he really isnt
😂No Just You!!!😮😮😮😅😅😂😂
So where is this money coming from?
Your taxes!
Trump 2024 🇺🇸
@@Tammy865 not mine, as a business owner I have the privilege to write off most if not all of my taxes. Sort of like how Amazon haven’t paid taxes in years. I instead after my accountants accomplish that feat I take all of that money and return it back to the first responders within the cities and states that I hold dearly.
Ice Cream parlor boy OBrandon
🎉I Like Rocky Road And Trump🎉🎉🎉😂😂😂
Paid my wife’s loan back with reasonable interest and thats all they’re getting.
It would be more fair if they cancelled the accrued interest and made everyone pay the principal plus market rates not loan shark rates.
We signed at a fair rate then the sharks more than quadrupled the rate after the fact. Crooks.
I hope trump comes back an makes everyone pay for there school loans
Trump 2024!!
That’d be nice
Even better since the damage is done, once trump becomes president he should just make the bidens, Clinton’s and Obamas pay back for these
Lmao …. Trump is 🗑
@@bradyhack2428 that’s your opinion missy
Passing the debt to the working taxpayers. Every financial institution and retirement fund holding that debt will pass along the cost.
Colleges and universities are certainly passing along the costs to taxpayers. Why not hold them accountable and recoup taxpayer losses from their billion dollar endowment funds?
It's not his to forgive! That's taxpayer money. Nobody forgave any of my debts by using my neighbors funds.
How is it taxpayer money? It's money from a lender forgiven to a borrower. The money just isn't collected. Very rtrds thinking from you people.
No he can not sorry ha ha
You are saying none of these debt forgiveness plans have been successful?
Oh it's so nice to see people proudly claiming a college degree will earn you more in your lifetime and then simultaneously cancel these costs. I can't wait to pay the bill with my taxes to help other people make more money than me. So exciting!
Pa Pa Pa Pandering! No I don’t want my tax dollars going to people who are irresponsible with student loans
Wow...where is everyone's help?? How nice it must be to have your loans forgiven!😂😂😂😂
The most costly thing you can own is free.
Lock him up
Why are my tax dollars paying for anothers financial decision? Dont see any money coming my way to pay the loans i took out.
I identify as a student so I think I'm owed a check 😂
😅😂😂😂🤣💰
That’s not how it works … they don’t cut you a check …
@@bradyhack2428 no sht Sherlock 😂 that's why I've not only identified as a student, but I also identify as a student loan program as well. I loaned myself when I identified as a student but now that there's a person in office illegally paying off student loans, I now I identify as a student loan program because I can identify as anything I want on any given day and if you say otherwise, you're a bigot and I'll get my small student loan identity community together and we'll fight non stop to cancel you.... Isn't that how "self identification" works these days?
To work I. The public sector i.e. Fire fighter, EMT, teacher, nurse, doctor, non profit and you too can qualify. These are agreements that are written into the loans and part of the paperwork that have been delayed and politicized.
Didn't the supreme court say that he couldn't do that ?
Joe Biden makes his own rules and the law and constitution mean nothing to him.
How many billions are we up to now?
Trillions
You’ve got to pay for those worthless $200k Ivy League psychology degrees somehow.
In what world are psychology degrees useless? They’re literally applicable in every industry.
Don’t be mad that people are getting help for once, you should be happy about it.
But now all of us taxpayers will be paying the bill instead !!
Gotta get them college debt relief voters!
Wrong
He does not have the authority to do that!!
I didn't think he had the authority to do that.
This is just campaigning it was already ruled out he does not have that authority or funds to do it.
But you probably support 250 billion dollars for Ukraine? 😂
@@FahQue1984 No I contributed to Putin's re election campaign instead.
@@OYisit Well cool. Now you can pay for my student loan that was forgiven. Thank you 😊 🙏
@FahQue1984 you'll be paying for it too, genius. Good thing you got that gender studies degree huh?
Pay attention to what’s going on … The Heroes Act was ruled against, this is under the Higher Education Act, which is a law.
It’s so easy to give away someone else’s money
Buying votes temporarily instead of fixing the real problem and regulating interest on student loans like they regulate mortgages etc., paying off $100k in student debt within 10 years shouldn’t cost you $350k
Enough of this waste of tax payers money!!!!!!!!
Is this moving the polls ?
this is 100% inflationary. groceries are already unaffordable.
He "ILLEGITIMATE JACKAL BRIBEN" has NO AUTHORITY to do so!!!!
Man us taxpaying citizens are really going to be hurting in another year or so. Already pay 52% of our earnings in taxes now. 😡
Yawn. The entire debt is $1.6 *TRILLION*. Usual Democrat response. Too little, too late.
Ben Franklin said your financial sheet speaks louder then words. God is the only one holding us up now. Peace n Jerusalem!
Tuition expenses have increased exponentially since colleges and universities lobbied to overturn student loan protections under bankruptcy laws and the federal government overtook lending from the private sector. Reverse both decisions and the problem will be solved.
Yep, so many people don’t realize that guaranteed federal loans are the problem. We incentivized irresponsible behavior
Student Loans !!! The jerks took money from my ss to pay student loans!!
Leaving me destitute! No warning- Nada.... just NO checks with a happy note indicating money gone to pay student loans!
Dang...
no option to make payments, nada!!!!
Left homeless and totally broke - had to beg family to move in with them ----- mostly lived out of my auto. 😠😠😠
Surely it has nothing to do with supply and demand either. Leave it to a Democrat to just suggest price controls to fix everything. Nothing makes it more clear that you have no understanding of economics.
@@Puzzlesocks Surely it has nothing to do with the removal of bankruptcy from unsecured debt, which would otherwise be wiped out in court once it is shown a debtor is insolvent. Nothing makes it more clear in your dimwitted response that you have no understanding of law or the legal process whatsoever.
@@freedomforever1962 And these same people will continue to rely on the government and social welfare because you refuse to let private institutions like colleges, universities, and servicers take a risk of default. Smart idea, pinhead 🤣
WTF WHY DIDN'T THEY PAY FOR MINE I WANT REIMBURSED....
That’s not fair to the ppl who did pay their student loans
I thought that he do not have that power under the law?
We can’t afford it! Do I get a refund for my college I paid for myself! When I went to college if we thought we could make those payments which are low then we went. If we couldn’t we went to work! If you can’t afford it you don’t go! That would stop some of these idiotic majors that take 4 sometimes more years and when they graduate they can’t find a job because they weren’t trained to do anything.
Besides seeing people online that I have no idea if they are being truthful or not claiming to have had their debt cancelled, I do not know of or have met anyone in the flesh who has.
Why wasn't I irresponsible and not pay off my loans? Fml
Outrageous
I paid my loans off by myself. Can I get that back???
I can not qualify as i have no student loan debt. I have much other debt but that apparently is not as important.
Can do for a vote,but not for our borders.
Nope I don’t qualify. I started working out of high school instead of overpaying for a degree. When will he pay off people’s loans due to the inflation he has caused?
Which is like $$ billions of credit card debt now that prob 75% of will just file bankruptcy
Taxpayers like you and me pay for their student loans. Unacceptable!
Naw im still making you pay me back
Scam
He will be sued and Lose .Tax payers should not have to pay for some else mistakes.
Yea communism!
Communism? What!?
How about working hard to erase your own debt instead of using taxpayer money? Or better yet, don't go into debt in the first place
What is wrong with interest free 2 year student loans, or get a free 2 year service to our country?
'Rule of law?...FK THAT!!!" - Biden
Let’s get the TRUE POLL NUMBERS OUT.
Passing the debt to the working taxpayers. Will backfire on blinkeden
The right to file bankruptcy on student loan debt needs to be restored!
Makes me not feel guilty about the crooked stuff i pull.
Lol small lead my butt lmfao 🤣
And meanwhile, the cost of living keeps rising. This administration is a disaster
All this debt relief and i havent sae a single email for me 😂
😂Oh..I Forgave MYSELF😅😅😅😂😂😂
Thanks Mr President for helping the un gratefull students
Any proof any student loans have been “forgiven”?
It’s easy to give away other people’s money. It’s easier to give away money one simply prints as needed.
Schools should send money back to department of education if the student drops the class.
“Can you qualify?”
Or if you’re not a student,
“What’s it gonna cost you?”
All those protesters get a free pass.
Its illegal for him to do that. Time to stop him cold
We must pay for someones free ride.
Get those money machines printing. I can't wait until November.
Wtf
Maybe Biden can forgive credit card interest. Mine went from 7% to 25% since he took office. Now i have to pay off other people's student loans through my taxes. November cannot get here fast enough.
Well, it’s a good thing that at least some people in the US are getting help. I’d like to see continued student debt forgiveness for all, as well as forgiveness for medical debt, establishment of universal healthcare, and a raise of the minimum wage. Maybe then people can start living again.
Amazing news. Been with my lady for 15 years now and we still haven't been able to own a home or get married or start a family yet. This should really help stimulate the economy. Thousands of people with more money pumping into economy.
Great the 88% footing the bill for the 12%
This is complete and utter BULLSHIT. Just a slap in the face to everyone that paid back there loans or didn't take them out.
The lessob here, zero accountability.
What was the NEW criteria? Poor reporting...
rick was very precise in his reporting - exactly what i wanted to know but generally other reports leave out. thanks.