Biden's campaign made 2 promises on canceling student debt. He hasn't done either.

  1. 5. Inflation reaches 8% and the sudden influx of money would increase inflation while also being seen as elitist by blue collar workers without college debt

  2. It’s the same every year for the 20 years I’ve been voting but, don’t you dare say that democrats have a history of doing that exact thing or else Reddit will show up in full force to point the finger and say “but it could’ve been the other guy and he was MUCH worse…” Clinton, Bush, and Obama are all war criminals. How much worse than killing millions of people could it be?

  3. I’m tired of elections being more about how shitty the other people are rather than any actions being done by the people I am voting for.

  4. FYI, this is why they keep getting away with not following up on promises, you let them get away with murder and still vote for them lmao. At a minimum vote a third party or not at all

  5. Reading this comment while remembering my Dad telling me, "At least Trump cared about America!" No Dad... no he didn't. SMH...

  6. Dems are all about the status quo and establishment. The fact that people's only options are to choose between no change or ethno-christian fascism is mind boggling. Either way, the rich win and continue to control it all.

  7. When all of these people who have been just making minimum payments get their loans forgiven, what does it mean for the next wave of students? Will they also get their loans forgiven? Should they plan on making minimum payments rather than amount due?

  8. I'm 100% for loan forgiveness but you're right that's only a bandaid and you're points are great. It's concerning that no one talks about this at all. Colleges are just corporations now and have been allowed to up charge for way too long. We were all told to go to college to ensure social mobility yet those of us not fortunate enough to have mommy and daddy pay our tuition are now prevented from that very same social mobility.

  9. There’s an easy solution to this. Eliminate or lower interest rates, forgive accrued interest via refinancing, and make past interest payments count toward the principal in full.

  10. There's a very valid concern why the administration hasn't pulled the trigger. Inflation is at record highs. Eliminating large amounts of debt across the country would continue to snowball inflation.

  11. It hopefully means no one has to go in debt over higher education. Free Community college or vocational college and little to no interest debt for higher education (masters, doctorates). We need skilled workers. This is how we get them.

  12. So you start with loan forgiveness for alumni and current students and then maybe do something similar to what my provincial government did when I went to college. They forgave 75% of loans over a certain threshold.

  13. Well that is certainly a solution, as in banks would categorically refuse to loan to students because they know they'd all declare bankruptcy after graduation.

  14. What do people think about giving every citizen that files a tax return 10k to use for student loans, mortgage, credit, medical debt or whatever they choose to do with it? Proponents suggest this helps students while also helping everyone else that were forced to or chose the workforce or are suffering from the lockdowns and current inflation. Giving to everyone, providing relief to everyone & nobody feeling left out etc.

  15. Well considering he was all for disallowing this when the bill passed originally I don’t see him changing his mind

  16. You mean the guy that originally fought to make Student Loans the one type of debt you can not escape didn't follow through on his promise of loan forgiveness? You mean his VP who imprisoned people for minor drug offenses didn't follow through on her promise to release people in prison for minor drug offenses? I mean it's almost like liberal politicians just tell you what you want to hear to get your vote then do whatever the hell they want instead.

  17. My alternative was voting for a guy that stole money from a cancer charity for children and spent some of that stolen money on a portrait of himself.

  18. I must have missed Biden saying he wasn't doing it anymore. Oh thats right he didn't. We just had the news of him moving forward with a minimum 10k cancelation like he promised. Obviously this is going to happen later in the year as the freeze was extended to August. Why the fuck are y'all complaining. Before it was "he hasn't cancelled the 10k he promised" and now it's "that's not fast enough" even though no one has to make a single payment at this time. The goal posts sure do move fast

  19. He also promised full cancelation for people making less than 125k but everyone's fixated on the magic 10k numbet.

  20. He’s been in charge for 1.5 years and made no progress on this issue as far as most can tell. People are getting frustrated.

  21. Quote - Joe Biden has canceled more student loan debt than any other President – a notable fact that’s flown under the radar.

  22. $17 Billion is 1% of the total 1.7 Trillion in student debt. He's not exactly moving the needle. The total amount of student loan debt grew by 8.28% in 2020.

  23. Guess what? My for profit college and Fannie mae(2008 housing crash) dropped me and then I'm still on the hook because that forgiveness didn't go into effect until after 2009. I'm glad he did that but it's still not enough.

  24. I still think he is waiting to do something until we get closer to the mid-term elections. I would not be surprised if it were contingent on sedition charges for members of Congress involved in January 6. Waiting to see if something pans out there before angering the banks. I also think he’s counting on running against Trump in 2024, which will result in the same amount of election support he got in 2020 as people vote to prevent Trump from winning.

  25. Love when these articles come out reminding me that I still have student loan debt and that the guy I was hoping would help hasn’t done dick about it. There’s still time but I do feel string along as they just keep postponing repayments.

  26. He’s kept you from paying interest. Have you been taking advantage of that or just sitting on it hoping he forgives the whole thing?

  27. He has cancelled some of your debt already. If you have continued to make the payments, all of that money is going toward principle and will lower the debt you owe in the long term by a decent amount.

  28. Seriously. I see these posts every day and the headline is just like “status quo still the status quo”. Fucking sick of this shit. We'll get 10k forgiven and it won't even touch the interest on my loans but we'll be on our knees in thanks??

  29. Also legalizing weed. It's almost like all the promises they made to progressives to get them to vote were blatant lies just to win the election....

  30. The only classes that matter when talking economic policy are the working class and the ruling class. The ruling class as a group doesn’t take out student loans, the working class does. Any other stratification of class is just a ploy to get the working class folks to fight each other instead of putting their energy together to fuck up the ruling class.

  31. How many promise did Trump make and break? Oath of office, health care, border wall to name a few and there are many.

  32. Lets see.....while trump initiated the freeze on student load payments, Biden extended the freeze on repayments. The last I heard, Biden was going to make an announcement in the next couple of weeks. Give the guy the two weeks and we ALL shall see a number of things. Like the following:

  33. Difference being Bernie would fight for promises he doesn't have the power to implement via the Executive, while Biden promised student loan forgiveness up to $10K that he can (most likely) do via EO, and he hasn't done anything beyond claiming they are thinking about it.

  34. “Biden’s campaign made a promise that he would be the President for a 4 year term. It’s only been 1 year. Why hasnt Joe Biden been President for all 4 years yet, it’s already been 1 year!!!” That’s how y’all sound.

  35. I think the problem is that he has not even tried to do anything about student debt, and has backpedaled when asked about it

  36. Yeah, I'm confused why the comments here are so negative at this particular time when it's more likely than ever to happen and we're supposed to get news in the coming weeks.

  37. What’s the sales pitch for why student loan debts need to be forgiven but other forms of debt are not? Let’s use medical debts as an example. A cancer patient who racks up debt has to pay but someone who chose to attend a university they can’t afford doesn’t?

  38. What about medical debt? It doesn’t matter. If we were about to cancel medical debt and do something that would most likely incite the end of collecting unfair medical debt forever, people would say they already paid for their treatment and other people should too. And that they read an article written by an insurance company (in which the insurance company admits the sample size of data is too small and a significant amount of the debt is missing) about how you don’t understand, 40% of people with private insurance can afford this if they live a life with less reward, in a country where the top 10% own 69.8 percent of the wealth and then the 1% own half of that chunk. And truly, unless you’re shot in the head you have time to Google non-profit hospitals. And also what about all of the people before them and after them, because we live in an alternate universe in which the insurance company is writing about how this is bad because somehow some way, this would benefit the insurance company, not you 🙄. The conclusion would be that only people who got shot in the head and were denied partial financial assistance should get their medical debt canceled. So don’t worry about canceling medical debt, it’s clear that you would not be okay with that…

  39. Mostly that its the government that holds the majority of student loan debt. The Government shouldn't be in the business of giving for-profit loans that are immune from bankruptcy to teenagers.

  40. I understand that people want what they want. That people believe action can simply be delivered by a single person signature. That is not how the government works. To achieve his "promises" Biden needs support from the judicial and legislative branches. Biden has neither.

  41. You’re wrong. If Biden thought he had no legal authority to cancel any debt he would not say over and over and over that he is weighing some form of relief and will make a decision in the next couple of weeks. It’s implicit he thinks/knows he has authority.

  42. Trump shot first and dealt with the consequences later. His supporters loved him for it. The Congress and judiciary will not restore debt once it’s forgiven. Biden needs to deliver more on his popular promises because “not Trump” isn’t good enough.

  43. I'm sorry, but didn't Biden campaign on his "ability" to reach across the aisle and work with Republicans? Where's that great coalition building?

  44. I think most folks would be shocked to learn how difficult it is to emigrate to Canada. Not knocking the plan, but be prepared for a difficult road if it's still similar to what I read about years ago.

  45. Chill the fuck out with the student debt … we’ve had moratorium after moratorium since he took office. You want it done? Go. Vote. It matters. I do not like the idea of EOs erasing debt

  46. So, when the student loans are forgiven, is this group of people then going after home mortgages and their car loans? Just asking for a taxpayer friend.

  47. If you are having trouble paying other loans, you can discharge them in bankruptcy, or sell the secured asset to reduce your burden.

  48. It's only been a little more than a year. The government isn't a genie, it takes time to change policy and the law that is behind the policy.

  49. There's a lot of indication that he will cancel around $10,000 in federal loans for borrowers who make under a certain amount. He has until November 7th to deliver something.

  50. Biggest issue for me is a "certain income" is different everywhere. Someone making $75K in Nebraska is living quite comfortably while someone making $75K in Boston is barely scraping by.

  51. I don't know why people think this is a make-or-break for Biden. One single fucking issue that any of us with at least half of a functioning single brain cell knew would take an extremely long time, or flounder on, isn't going to deter my vote.

  52. If it's out of his control, he knew it when he made that promise. After all, he's got years of experience in the Senate...

  53. Not forgiving any debt and asking people to resume payments after two years of none will be an absolute disaster for the economy

  54. Yeah let’s hate on the political party who ISNT trying to roll back civil right, undermine democracy, and possibly start a second civil war. That’s cool.

  55. I hate this argument. I'm a lifelong Dem but I hate everytime someone brings up the other side as a boogeyman to stifle progressive change. Trump really was the best thing ever for moderate to right wing Dems. Fact is, Biden can and should be doing more. He promised 10k in student loan forgiveness and has dragged his feet for 16 months. Trump and his cronies still haven't been charged with anything by Justice Dept. Weed is still Schedule I. Come on now.

  56. Hot take but Elon Musk chose now to buy Twitter to get people even more incensed at the rich and how much money they spend so people clamor even harder for debt forgiveness.

  57. Big banks and corporations own congress though. They rather give CEOs billion dollar payouts and PPP loans that are forgiven than ever helping the common people.

  58. He’s actually done both - promised that he’d push congress to forgive $10k and he’d pause loans. Noones paid anything on federal loans while he’s been president. Thanks Biden 🙌

  59. He needed the youth vote before the election. I am sure he will talk about it again since he needs to keep the senate and the house. After that is done I am sure it will go on the back burner until the 2024 election.

  60. As someone graduating with ~$200k in debt in two weeks, I find it absurd that people who willingly took on student loans should expect other taxpayers to fund their education and pay off their debts.

  61. Every other type of loan has a way out. You can often liquidate the assets the loan was for and pay off most of it, or declare bankruptcy if you can't. Student loans are not dischargeable by bankruptcy, nor can you liquidate the underlying asset.

  62. Biden did not just promise $10,000 per person. STOP SAYING THAT. It's still up on for fuck's sake. He promised a shit ton more than that for some people.

  63. The problem for most people on Reddit is that those loans are for people who were either defrauded or qualified under existing programs. It's not the blanket forgiveness they asked for.

  64. The white middle class suburban progressive knows their lives won’t change under Republican/autocrat rule so they have the privilege to play games with voting. The privilege of Knowing you have Nothing to lose….and on the bright side. If republicans take over again, they’ll get to #resist and go to more protests. That’s the actual movement.

  65. Y’all seem to forget this man said nothing would fundamentally change if he were elected. What a milquetoast sack of shit.

  66. What recent president has not done this? It’s pretty much expected at this point. They are salesmen. That’s it. Con artists with connections in industry.

  67. Most of the Republicans supporters hold the bank notes.its not going to happen! Forced labor because if your going to make better money you need a education. Its a government pyramid scam that bank owns people.

  68. I don’t see why they don’t cancel them or just leave interest rates extremely low. Mine are almost paid off, but why not get everyone on equal footing. There is tons of stuff my wife and I would love to do but we are saddled with her school debt. She now owes more than she did when she graduated. Could she have picked a different career path sure, but she wanted to be a physical therapist. My two cents just forgive it and let everyone start over. Prices have changed from when the baby boomers went to school. My mom is looking for a new house at 71 and she can’t believe how expensive things are now.

  69. why student loans?! - why not forgive home mortgages while we're at it? Let's forgive car loans! Medical bills! That way the money could be used to to stuff we all would love to do

  70. I'm definitely not a republican, but college loans can’t be waived without incurring injustice to those who worked hard, saved, deferred their spend and paid off the loans or never even took the loans or did not pursue their dreams by going into debt. Moral hazard written all over it.

  71. Dude has to get re-elected and forgiving student loan debt is really polarizing from a politics standpoint--helo hi. Get re-elected and U guarantee he will forgive student loan debt.

  72. Biden is quintessential 80s corporatist democrat. We knew what we were getting, but we elected him because "anything but Trump". The DNC knew they had Americans over the barrel, because "anything but Trump". The corporations/donor-class that run the DNC are going to cream their collective pants should Trump run again in 2024.

  73. Because democrats say whatever is popular to get elected. When they win they completely abandon their campaign promises. Until re-election they scramble to fulfill them. But they won’t cause they can blame republicans for blocking their agendas. It’s a never ending cycle. I for one have had enough of all these do nothing politicians.

  74. I'm a Democrat and I am shitting my pants to see what goes down in two years. This whole party is an abject shitshow🤦🏽Too many people can hardly pay the difference of inflation and still have to contend with massive student loan payments while the PPP receiving assholes get forgiveness. FFS!!

  75. "Cancelling student debt" is a misnomer. All that money still got spent. The only thing that changes is who pays. What "cancelling student debt" really means is that people who don't have student debt pay off the debt of those who do.

  76. To be fair, trump wanted to “make America great again”. He left office and America was the laughing stock of the world.

  77. Just cancel interest at the absolute least. Government gets its money back, and it’s already made a profit on us all. Cut the potential earning and take the money back.

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