New Student Loan Forgiveness Plan Promises Whatever Joe Biden Can Find in his Couch Cushions8/29/2022 You'll get it and like it! By The Shallot Student loan forgiveness has been a huge talking point for democrats the past few years and for good reason. Student loans are one of the most predatory loans that are easily accessible to minors with big dreams, and one of the most difficult to pay off. Some people end up paying off their student loans for the rest of their lives, only to be swallowed by interest and other compounding fees.
Thankfully, the idea of total loan forgiveness has been on the table since Joe Biden’s initial 2020 presidential campaign. A surprising amount of student loans is in the form of federal student loans, which can be waived with no real obstacles to a dedicated party. Studies have shown that, in other countries and in the United States, student loan forgiveness gives graduating and recently graduated students an immense leg up in the rest of their lives while also stimulating the economy more than whatever the cost to the loss in loan revenue. Now, two years into his presidency, the idea has taken some significant downsizes. Amounts forgiven are reduced and qualifications for forgiveness become even more hard to meet. In a recent policy change, the total amount forgiven has been reduced from the original $300 billion to whatever Joe Biden can find in his couch cushions. This decision may cause some well-justified displeasure and anger, but the White House press secretary insists on its fairness. In an unofficial statement, she stated “all those Lockheed Martin guys Joe invites over for drinks are stacked, maybe they lost a couple twenties in there.” As for distribution of this new lump sum, there will be a lot of competition as the amount is significantly reduced. No official word has been made on this front but there is talk of a Fortnite and Fall Guys competition that will be streamed on the Army Esports twitch, sponsored by Raytheon. President Biden has preemptively addressed concerns by stressing the importance of this money for the defense budget, which he plans to continue raising from where it is currently at over $700 billion.
0 Comments
Leave a Reply. |