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Biden cancels student debt to the tune of $5.8 Billion

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The Socialist juggernaut stops for no one. Thousands of Americans are hostages, never the less the machine rolls on to bankrupt and otherwise destroy the America we know.  This amount is small potatoes in the grand scheme of student loan debt. A total of $1.7 trillion in student debts is out there waiting to be forgiven entirely. If kids want to major in basket weaving and other majors that are useless, why should we be on the hook? Better yet, we learn that now 61 percent of Americans paid no taxes at all. The gulf widens:

The Biden administration announced on Thursday the latest in a series of student loan reprieves forgiving the debt of borrowers with total or permanent disabilities (TPD).

More than 323,000 borrowers will be covered under the loan discharge, which will total more than $5.8 billion. Borrowers will be identified through existing data supplied to the Social Security Administration. The administration has now forgiven around $8.7 million in loan debt.

…….

Aaron Ament, president of the National Student Legal Defense Network, told The Associated Press (AP) that Thursday’s announcement is a “huge moment” for borrowers “who can now move on with their lives and won’t be trapped in a cycle of debt.”

The Education department has issued a series of loan discharges in 2021, including forgiving the debt of 92,000 students defrauded by for-profit colleges.

Additionally, due to pandemic burdens, the administration has extended loan forbearance and paused interest on payments through Jan. 31, 2022.

….

American borrowers collectively owe 1.7 trillion in student loan debt.

From The Hill

Bonus: CNBC

More than 100 million U.S. households, or 61% of all taxpayers, paid no federal income taxes last year, according to a report from the Tax Policy Center.

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And that is the very best of the swamp.



Source: https://bunkerville.wordpress.com/2021/08/20/biden-cancels-student-debt-to-the-tune-of-5-8-billion/


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