The Biden administration is moving ahead with a new path to student loan cancellation for Americans who face steep medical bills, child care costs and other types of financial hardship that prevent them from repaying their loans

The Biden administration is moving ahead with a new path to student loan cancellation for Americans who face steep medical bills, child care costs and other types of financial hardship that prevent them from repaying their loans.

Announced Friday, the proposed rule is President Joe Biden’s third attempt at student loan cancellation as he faces repeated legal challenges from Republican states. His first plan was rejected by the Supreme Court last year, and his second plan has been temporarily halted by a federal judge in Missouri.

The new rule would have to clear a number of hurdles before it becomes official, and it’s unclear if it could be realized before Biden leaves office in three months. Like Biden’s other loan forgiveness proposals, it could face court challenges from conservatives who say it’s unconstitutional and unfair.

If finalized, the new rule would allow the Education Department to proactively cancel loans for borrowers if the agency determines they have an 80% chance of being in default on their loans within two years. Others could apply for a review to determine if they meet the criteria for cancellation.

  • Smeagol666@lemm.eeEnglish
    564·
    2 months ago

    At first it was going to be to forgive all student debt for everyone making under $80k, then it was $20k, then they knocked it down to $10k but only for left-handed, red-headed, teacher-nurses. Get it through your thick heads; the Demo-rats don’t give a fuck about you any more than Republi-tards. If they gave away free education, their military recruitment (which mostly benefits from taking advantage of desperate poor people) would suffer even more, and it’s already at an all-time low. And that’s setting aside that colleges now are just huge moneymaking Ponzi-scheme, hedge-fund sports franchises that do education as a side-hustle.

    • Snapz@lemmy.world
      93·
      2 months ago

      Kiddos, realize that this is the thing working from all angles to influence your thoughts right now.

      The same energy/funding behind this real/fake person, who is just obviously so ignorant that it hurts to read here, is also currently posting in all of your feeds elsewhere. They are posting in those feeds in much more subtle ways, and often, all to make you doubt objective truth.

      They are posting the lead comment, and two comrades are then posting replies below the original misinformation to say, “I agree” and/or “I didn’t know this, but I asked a friend and they said it was actually true, weird!” All things to, again, influence you to doubt the things you can see as true with your own eyes/reason.

      This dark energy/funding is likely in some of your favorite YouTubers/twitch streamers you watch, definitely all throughout Reddit, it’s in your IG/FB/TikTok feeds, it’s in the news your parents watch and the editorials in your newspapers. It’s in the supreme court deciding your future if you’re in the US. It’s insidious. One of the best skills you can hone right now is the ability to feel it quickly and the empathy to warn others about it in a way that they can hear your warning.