Breaking: Biden offers alternative student debt relief plan that would remove immediate threat

[1srelluc]

So he’s going to ease the threat of default if they don’t pay. Wtf does that even mean.
Democrats are always trying to find a way around the Supreme Court rulings and constitutional law.
I understand the band kept playing while the Titanic was sinking.


Biden offers alternative student debt relief plan that would remove immediate threat of default

President Joe Biden vowed Friday to push ahead with a new plan to provide student loan relief for millions of borrowers while blaming Republican “hypocrisy” for triggering the day's Supreme Court decision that wiped out his original plan.

Biden said payment requirements for student loans would resume in coming weeks, but that he would work under the authority of the Higher Education Act to begin a new program designed to ease borrowers’ threat of default if they fall behind over the next year.

Hours after the Supreme Court ruling, Biden commented from the White House, trying to stay on the political offensive even as the ruling undermined a key promise to young voters who will be vital to his 2024 reelection campaign.

Biden offers alternative student debt relief plan that would remove immediate threat of default

 

[Remodeling Maidiac]

Remove the immediate threat....

Dumb

I re negotiated my student debt several times when I was young. THAT was the relief. It took years but I paid it off despite starting our poor and fresh out of prison.

I have ZERO sympathy for these morons.

 

[Hollie]

The Dems / Marxists know that falsely labeling ''debt relief'' is a vote buying tactic but that won't stop them from trying to dump more debt and inflation on the taxpayers.

 

[1srelluc]

Remove the immediate threat....

Dumb

I re negotiated my student debt several times when I was young. THAT was the relief. It took years but I paid it off despite starting our poor and fresh out of prison.

I have ZERO sympathy for these morons.

OK, so maybe you can make sense of this comment on the behind the scenes in the rules and regulations.....Is this what you are talking about?

The 10K forgiveness is nothing but bait to keep people angry.

They've changed so many rules in the last couple of years, NOBODY is going to pay what they borrowed.

My wife had 210k in loans discharged earlier this year when they adjusted the repayment calculations to include time spent in forbearance. We didn't even know.

And NO income tax on loans forgiven before 2026, before someone starts crowing about that.

My $150k has been adjusted too. I'll have to make a few payments before they write off in 2027, and I'll probably owe the tax on those. But I'm working on it.

So keep looking at the hand that's waving over Biden's head to distract you and keep you clutching your pearls, the real action his happening in the rules and regulations, like it always does.

Sounds to me all Tater has to do is give some marching orders and it's a done deal.

 

[Remodeling Maidiac]

OK, so maybe you can make sense of this comment on the behind the scenes in the rules and regulations.....Is this what you are talking about?

The 10K forgiveness is nothing but bait to keep people angry.

They've changed so many rules in the last couple of years, NOBODY is going to pay what they borrowed.

My wife had 210k in loans discharged earlier this year when they adjusted the repayment calculations to include time spent in forbearance. We didn't even know.

And NO income tax on loans forgiven before 2026, before someone starts crowing about that.

My $150k has been adjusted too. I'll have to make a few payments before they write off in 2027, and I'll probably owe the tax on those. But I'm working on it.

So keep looking at the hand that's waving over Biden's head to distract you and keep you clutching your pearls, the real action his happening in the rules and regulations, like it always does.

Sounds to me all Tater has to do is give some marching orders and it's a done deal.

No clue. I was in college 30+ years ago. My point was if I can do it anyone can. I was as poor as you can be when I started out.

 

[1srelluc]

No clue. I was in college 30+ years ago. My point was if I can do it anyone can. I was as poor as you can be when I started out.

Check this out.....It's from a debt collector:

Consumers are defaulting in their private student loans like gangbusters and I have already found a few examples of people refinancing .gov loans into private loans from banks with the intent to default.

Here’s why: in some states a bank can NOT garnish your wages for failure to pay a student loan, they can not take your car, or your home (like in TX). Most employers don’t GAF if you do or don’t pay your student loans. If you get sued and a judgement is against you, you still don’t have to pay because of no wage garnishment. Will it ruin your credit? Yes but for 7ish years, a lot shorter than the term on these loans. There is NO incentive to pay on student loans in a lot of states (CA, NY, insert more states).

Once they defaulted it comes to me, and if we fumble ANYTHING regarding this loan when talking to the debtor. We will get sued and we will lose, this means that we will have to get rid of this loan and give it back to the bank or resell it to another shop. This cycle continues until 7 years and it’s out of Statute of Limitations, we can no longer sue and the bank is now fucked.

What’s going to happen? Everyone is going to refinance their .gov loans into a private student loan and never pay and never suffer any real consequences for their actions. Most apartments only look at rental history anyways and mom/dad will co-sign for a car for them, they won’t get fired from their job. This behavior will become encouraged. It will lead to the end of student loans, college will once again become a rich man’s sport.

TLDR: the plan from the beginning was to refinance .gov loans into private loans with the goal to default, nothing happens anymore to the debtors, and in 7 years their credit will be better and can live a normal life. There is no incentive to pay and no punishment for not paying (depending on the state). No wage garnishments and even when successfully litigated against the debtor still won’t pay.

 

[Lisa558]

What’s the “immediate threat”? Having to go back to paying off your loans after a three-year “pause”?

 

[beagle9]

So he’s going to ease the threat of default if they don’t pay. Wtf does that even mean.
Democrats are always trying to find a way around the Supreme Court rulings and constitutional law.
I understand the band kept playing while the Titanic was sinking.


Biden offers alternative student debt relief plan that would remove immediate threat of default

President Joe Biden vowed Friday to push ahead with a new plan to provide student loan relief for millions of borrowers while blaming Republican “hypocrisy” for triggering the day's Supreme Court decision that wiped out his original plan.

Biden said payment requirements for student loans would resume in coming weeks, but that he would work under the authority of the Higher Education Act to begin a new program designed to ease borrowers’ threat of default if they fall behind over the next year.

Hours after the Supreme Court ruling, Biden commented from the White House, trying to stay on the political offensive even as the ruling undermined a key promise to young voters who will be vital to his 2024 reelection campaign.

Biden offers alternative student debt relief plan that would remove immediate threat of default

Biden ain't offering nothing, otherwise he isn't in charge of deep thought on anything... His handler's are running the show, so understanding who his handler's are, and finding out who it is that is truly running the show is key to stopping Biden and his anarchy. My first thought was Obama and company when the alternative plan was revealed.

 

[yidnar]

So he’s going to ease the threat of default if they don’t pay. Wtf does that even mean.
Democrats are always trying to find a way around the Supreme Court rulings and constitutional law.
I understand the band kept playing while the Titanic was sinking.


Biden offers alternative student debt relief plan that would remove immediate threat of default

President Joe Biden vowed Friday to push ahead with a new plan to provide student loan relief for millions of borrowers while blaming Republican “hypocrisy” for triggering the day's Supreme Court decision that wiped out his original plan.

Biden said payment requirements for student loans would resume in coming weeks, but that he would work under the authority of the Higher Education Act to begin a new program designed to ease borrowers’ threat of default if they fall behind over the next year.

Hours after the Supreme Court ruling, Biden commented from the White House, trying to stay on the political offensive even as the ruling undermined a key promise to young voters who will be vital to his 2024 reelection campaign.

Biden offers alternative student debt relief plan that would remove immediate threat of default

in other words people do have to make payments ... will he do that for car and home loans ? America has gone insane thanks to the gender confused left ..

 

[Hollie]

Check this out.....It's from a debt collector:

Consumers are defaulting in their private student loans like gangbusters and I have already found a few examples of people refinancing .gov loans into private loans from banks with the intent to default.

Here’s why: in some states a bank can NOT garnish your wages for failure to pay a student loan, they can not take your car, or your home (like in TX). Most employers don’t GAF if you do or don’t pay your student loans. If you get sued and a judgement is against you, you still don’t have to pay because of no wage garnishment. Will it ruin your credit? Yes but for 7ish years, a lot shorter than the term on these loans. There is NO incentive to pay on student loans in a lot of states (CA, NY, insert more states).

Once they defaulted it comes to me, and if we fumble ANYTHING regarding this loan when talking to the debtor. We will get sued and we will lose, this means that we will have to get rid of this loan and give it back to the bank or resell it to another shop. This cycle continues until 7 years and it’s out of Statute of Limitations, we can no longer sue and the bank is now fucked.

What’s going to happen? Everyone is going to refinance their .gov loans into a private student loan and never pay and never suffer any real consequences for their actions. Most apartments only look at rental history anyways and mom/dad will co-sign for a car for them, they won’t get fired from their job. This behavior will become encouraged. It will lead to the end of student loans, college will once again become a rich man’s sport.

TLDR: the plan from the beginning was to refinance .gov loans into private loans with the goal to default, nothing happens anymore to the debtors, and in 7 years their credit will be better and can live a normal life. There is no incentive to pay and no punishment for not paying (depending on the state). No wage garnishments and even when successfully litigated against the debtor still won’t pay.

Time for the Biden politburo to spend millions of taxpayer dollars to set up a website that instructs the debt cheats how to game the system.

 

[1srelluc]

If I was a employer and found that a applicant had defaulted on their student loan that resume would go straight into the "round file".

 

[beagle9]

Time for the Biden politburo to spend millions of taxpayer dollars to set up a website that instructs the debt cheats how to game the system.

Thought they did that with an App for the border invading illegals ?

 

[Hollie]

Following the script he was given, Biden blames the Republicans for ''taking away hope''




The doddering old fool makes my skin crawl.

 

[Hollie]

Thought they did that with an App for the border invading illegals ?

The dems are always looking for new ways to fleece the taxpayers.

 

[1srelluc]

Thought they did that with an App for the border invading illegals ?

I believe it was this one.

Exclusive: Biden has quietly deployed an app for asylum seekers. Privacy experts are worried

Officials have quietly deployed a mobile app relying on facial recognition technology to collect data on asylum seekers before they cross the border.

news.yahoo.com

The mexican .gov was the big player in that.

 

[Lisa558]

Following the script he was given, Biden blames the Republicans for ''taking away hope''




The doddering old fool makes my skin crawl.

How in the world is requiring adults to pay back their loans “taking away hope”? This Biden character is trying to demonize the SCOTUS just because they didn’t go his way.

That seems to be the Democrat tactic: demonize and delegitimize any dissenters.

 

[Rambunctious]

So he’s going to ease the threat of default if they don’t pay. Wtf does that even mean.
Democrats are always trying to find a way around the Supreme Court rulings and constitutional law.
I understand the band kept playing while the Titanic was sinking.


Biden offers alternative student debt relief plan that would remove immediate threat of default

President Joe Biden vowed Friday to push ahead with a new plan to provide student loan relief for millions of borrowers while blaming Republican “hypocrisy” for triggering the day's Supreme Court decision that wiped out his original plan.

Biden said payment requirements for student loans would resume in coming weeks, but that he would work under the authority of the Higher Education Act to begin a new program designed to ease borrowers’ threat of default if they fall behind over the next year.

Hours after the Supreme Court ruling, Biden commented from the White House, trying to stay on the political offensive even as the ruling undermined a key promise to young voters who will be vital to his 2024 reelection campaign.

Biden offers alternative student debt relief plan that would remove immediate threat of default

The Supreme court is watching....

 

[blackhawk]

Here is a wild idea why not work on why the cost of college is so high and work on ways to lower the cost so those who take out loans are not hit with such massive debt when they graduate.

 

[1srelluc]

Following the script he was given, Biden blames the Republicans for ''taking away hope''




The doddering old fool makes my skin crawl.

So if he did not give them false hope how could the GOP or SCOTUS snatch something away that was never given?

Senile old fart.

 

[debbiedowner]

Check this out.....It's from a debt collector:

Consumers are defaulting in their private student loans like gangbusters and I have already found a few examples of people refinancing .gov loans into private loans from banks with the intent to default.

Here’s why: in some states a bank can NOT garnish your wages for failure to pay a student loan, they can not take your car, or your home (like in TX). Most employers don’t GAF if you do or don’t pay your student loans. If you get sued and a judgement is against you, you still don’t have to pay because of no wage garnishment. Will it ruin your credit? Yes but for 7ish years, a lot shorter than the term on these loans. There is NO incentive to pay on student loans in a lot of states (CA, NY, insert more states).

Once they defaulted it comes to me, and if we fumble ANYTHING regarding this loan when talking to the debtor. We will get sued and we will lose, this means that we will have to get rid of this loan and give it back to the bank or resell it to another shop. This cycle continues until 7 years and it’s out of Statute of Limitations, we can no longer sue and the bank is now fucked.

What’s going to happen? Everyone is going to refinance their .gov loans into a private student loan and never pay and never suffer any real consequences for their actions. Most apartments only look at rental history anyways and mom/dad will co-sign for a car for them, they won’t get fired from their job. This behavior will become encouraged. It will lead to the end of student loans, college will once again become a rich man’s sport.

TLDR: the plan from the beginning was to refinance .gov loans into private loans with the goal to default, nothing happens anymore to the debtors, and in 7 years their credit will be better and can live a normal life. There is no incentive to pay and no punishment for not paying (depending on the state). No wage garnishments and even when successfully litigated against the debtor still won’t pay.

Didn't read the whole thing but employer can garnish up to a certain amount.

Why and How Student Loan Creditors Can Garnish Your Money

The U.S. government and private lenders can garnish your bank account to recover unpaid student loans in multiple ways.

www.investopedia.com