President Biden Announces New Loan Forgiveness Plan . . . Again
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President Biden Announces New Loan Forgiveness Plan . . . Again
The Supreme Court may have stuck down Biden’s initial student loan forgiveness plans, but the President’s administration has not given up.
From Fox Business. President Biden says his administration is taking “another major step” in student debt handouts as the Department of Education will start emailing tens of millions of Americans informing them of potential options heading their way around the time of the presidential election. …
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“These rules, if finalized as proposed, would bring the total number of borrowers eligible for student debt relief to over 30 million, including borrowers who have already been approved for debt cancellation by the Biden-Harris Administration over the past three years,” the department said in a statement, adding that the “email does not guarantee specific borrowers will be eligible.”
The largest group potentially seeing handouts are borrowers who now owe more money than they did at the beginning of the repayment of their loans due to what the Department of Education describes as “runaway interest.” …
Officials say one proposed rule that would assist this group would “permit automatic relief of up to $20,000 of the amount by which a borrower’s loans currently exceed what they owed upon starting repayment,” while another would allow Secretary of Education Miguel Cardona to “forgive the full amount by which a borrower saw their balance grow after entering repayment if the borrower is enrolled in any Income-Driven Repayment plan and has annual income equal to or below $120,000 if they are single or $240,000 if they are a married couple that files taxes jointly.” …
What do you think of the newest loan forgiveness plan? Share your thoughts and prayers below.
(Excerpt from Fox Business. Photo Credit: Gage Skidmore from Surprise, AZ, United States of America – Joe Biden, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=86059694)
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Comments
Deja Vu, and again, Deja Vu. My prayer for this current United States President is this: Psalm 109:8 “May his days be few; may another take his place of leadership.”. In our Lord and Savior Jesus Christ name we pray in earnest.
Totally unfair and injustice once again being presented by the Biden/kamala administration. The message behind this loan forgiveness makes people unaccountable for decisions that they made by burrowing more money then they needed and a lot of it probably didn’t even go towards the school loan but to other items they chose to buy. Totally irresponsible and it sends the message to this generation that they are not held accountable for their chooses in life. They will just repeat their poor decision making time after time and expect to be bailed out by someone other than themselves. This is NOT a Godly way to live and the Bible speaks about this situation. Praying for righteous and justice to prevail. Amen!! 🙏
“ For the Lord your God will bless you just as He promised you; you shall lend to many nations, but you shall not borrow; you shall reign over many nations, but they shall not reign over you.. “
Deuteronomy 15:6
Grateful for the student loan forgiveness II received from President Biden last year.
God can use wicked & corrupt leaders to do His will . The year of jubilee . All debt forgiven . There is no de t in the Kingdin of heaven .
Thank you Lord that we are debt free because of your blood !
More highway robbery of the American citizens – to insure the votes of the recently college “educated”.