President Joe Biden’s plans to deliver widespread student debt relief were dealt a serious blow last year when the Supreme Court struck down his one-time student loan forgiveness program. But he has still managed to cancel more federal student loan debt than any other president.

TLDR: Totalling roughly $144 billion for about 4 million borrows.

Article is from March 29th, 2024

  • givesomefucks@lemmy.worldEnglish
    886·
    9 months ago

    9% of total loans, and a lot are people who should have already been discharged through existing programs.

    The thing is, someone thought it was a good idea to put the people making money off student loans in charge of forgiveness programs, so all types of shady shit was happening.

    • qwertyqwertyqwerty@lemmy.one
      393·
      9 months ago

      If he was able to get the original loan forgiveness he wanted, my wife and I would have replaced a car with a newer one, or maybe bought a second car. As it stands now, I guess we will be driving ours for a while. I guess the student loan providers wanted our money more than the stock market.

      • Sanctus@lemmy.worldEnglish
        17·
        9 months ago

        It’s never about making it better. It’s always about shoving as much money in their pockets as possible.

      • lennybird@lemmy.worldEnglish
        184·
        9 months ago

        We were in a similar position, intending to reinvest in our home, get a utility trailer, while saving up more for land one day.

        Conservatives fucked that up. But I appreciate Biden for trying.

    • Sanctus@lemmy.worldEnglish
      11·
      9 months ago

      Ah, yes, the people with the true say in this country, lobbyists with buckets of money.

    • Krauerking@lemy.lol
      32·
      9 months ago

      LOL that keeps being my thought of… Wait why is it a good thing we took this long to help people that were scammed and forgive the people that were well past it being owed to them.

      It is sad that we are at praising bare minimum of by the books. We are too used to people being fucked over.

      • givesomefucks@lemmy.worldEnglish
        42·
        9 months ago

        That’s like when they say “Biden forgave more student loan debt than anyone”…

        Well, it wasn’t really an issue until 20 maybe 30 years ago, and few people are paying them off