President Biden Announces New Loan Forgiveness Plan . . . Again
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President Biden Announces New Loan Forgiveness Plan . . . Again
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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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I have paid all my loans I should not be made to pay for someone else’s loans. More needs to be taught in public schools on fiscal responsibility than all this woke evil that is being forced on us and our children. Biden and anyone who thinks these loan forgiveness ideas are a good idea let them use their own monies to pay those loans. Fat chance of that, they are always telling us how to spend our money while never touching a dime of theirs on these so called good causes. Trust in God 🙏😇🙏
Father in the name of Jesus, stop this please as it is just anpther form of election tampering. Thamk you that we can ask knowing you hear and anwer. Make our prayers effectual to stop this. In Jesus name.
Heavenly Father, our nation is currently $35 Trillion in debt. Your word says Proverbs 22:7 The rich rules over the poor, and the borrower is the slave of the lender. Your sound word gave wise and truthful clarity. Thank You! Stewardship requires responsibility. Taxpayers did not sign these legal and binding agreements for loans, the individual student did (it is their debt). As a society we told our children this is how to get ahead (we did not mentor.) Over-inflated fees, courses not related to declared majors and swipe your card mentality were misused. Students did not understand true cost/month and length of repayment on these loans. Time for solutions! Lenders, colleges and govt. sector who all benefitted from these deals will now help reduce this debt (out of their funding). No more state and federal funding to colleges, universities and lenders till the fat is cut Students will be a part of the solution with fiscal responsibility (fair and reasonable – not a hand out.) All those who further pursue this in court will pay any all legal fees out of their own personal bank accounts, NOT billed to the taxpayers (including this current administration.) Lead us Father on next steps, with honest conversations in truth and in love. In Jesus’ mighty name. Amen.
Father in Heaven, You See, Hear, and knows, the Heart Of man, righteous and Just, to help people’s, exspiecally Young adult to be debt freedom, from mentally and emotionally Debt freedom 🙏👣⭐❤️👑🔥, LORD I asking you to given Biden Wisdom, mighty wisdom, to think How thousands of Young adult can become DEBT FREEDOM 🔥👑 SO THE BILLS WON’T OPPRESSED THERE LIFE, , AS YOU CAN SEE THEY’RE STARTING THEY LIFE OFF, AND TRYING TO FIGURE OUT THEY LIFE, and some might still living with Mom and Dad, other’s oppressor spirits Comes Lord, SO Father let your will be done with DEBT FREEDOM FOR THEIR LIVES AND LOVE’S ONE’S. IN JESUS NAME AMEN, TAXES WILL ALWAYS BE HERE, NO MATTER WHAT… BUT DEBT FREEDOM, YOU WILL BE FREE. YES LORD. ❣️🙏👣⭐❤️🔥👑
This line of reasoning is intellectually and logically incoherent.
I am so grateful for this plan. My daughter, a registered emergency room nurse has paid the $60,000 she borrowed. But, because of interest, she still owes $60,000. As a single mom, a $500 a month payment in our current economic conditions, is not possible. My heart grieves for her.
I am conflicted that it is tax payers paying this. It seems that there could be legislation that can work this unfair situation with the companies carrying these loans.
Father God I thank you for the silence of the Federal Government concerning the New York trial of Mr. Trump. For silence is assent. And so every program law and regulation that fails to deliver the value of its promises is now fraud and May be judged a felony. And in the great claims of its open failure to deliver all involved have failed to provide the promise as they were paid full pay to deliver to the students. . New York has set the standard for this Justice. , let all the colleges pay for their failure to provide a profitable education as promised. Amen
How does this man continue with loan forgiveness, when SCOTUS ruled that he wasn’t allowed to do so? He should get impeached !
Unconstitutional!
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 !
You quote Deuteronomy “you shall not borrow…” then why did you borrow? President Biden did NOT forgive your loan from his own pocket. He took it from us, taxpayers (who did NOT take any loans) to pay you. Jesus’ blood was shed NOT for forgiveness of student loans. But for forgiveness of sins. Yes, one of those sins is borrowing excessively. You’re forgiven, but you still must pay the debt. Here’s more appropriate quote: “Owe no one anything, except to love one another” Romans 13:8
More highway robbery of the American citizens – to insure the votes of the recently college “educated”.