561
submitted 1 year ago by MicroWave@lemmy.world to c/news@lemmy.world

U.S. President Joe Biden plans to announce on Wednesday that his administration has approved an additional $9 billion in student debt relief for 125,000 borrowers, the White House said.

Biden has said he will pursue new measures to provide student loan relief to Americans after the Supreme Court blocked his plan to cancel hundreds of billions of dollars in debt.

The president's announcement, planned for 1 p.m. EDT at the White House, will bring the total approved debt cancellation by the Biden administration to $127 billion for nearly 3.6 million Americans, the White House said.

top 50 comments
sorted by: hot top controversial new old
[-] Glowstick@lemmy.world 142 points 1 year ago

In 2020 I voted against Trump, in 2024 I'm voting for Biden.

[-] nocturne213@lemm.ee 34 points 1 year ago

Is there someone better running for a change?

[-] ininewcrow@lemmy.ca 61 points 1 year ago

How about just anyone under the age of 60

Between 40 and 50 would be ideal.

[-] jeffw@lemmy.world 13 points 1 year ago

I actually think 50-60 would be ideal. Obama, in his mid-40s, was a relative political newcomer in 2008 (compared to other candidates, at least, not like Trump-style) and he made many missteps as a result. The ACA, for example, could have been far more broad. They didn’t need massive moderate support.

Of course, some people enter politics pretty young. By the time Maxwell Frost hits 45, for example, he might have 20 years in federal politics. It’s rare that we find people with so much experience at that age though.

[-] assassin_aragorn@lemmy.world 10 points 1 year ago

I think the level of Republican stonewalling was historic for Obama, so to some degree it would've happened anyway, but I think he would've wisened up faster if he had more experience. It's a double edged sword.

[-] SCB@lemmy.world 7 points 1 year ago

The ACA, for example, could have been far more broad. They didn’t need massive moderate support.

The ACA passed by one vote after they stripped it down to make it more appealing.

On December 23, the Senate voted 60–39 to end debate on the bill: a cloture vote to end the filibuster.[182] The bill then passed, also 60–39, on December 24, 2009, with all Democrats and two independents voting for it, and all Republicans against (except Jim Bunning, who did not vote).[

[-] thallamabond@lemmy.world 5 points 1 year ago

The aca was much more broad, it initially included a single player option, but that was excluded by Joe Lieberman.

He threatened to kill the whole thing if single payer was included.

Lieberman then quit the Democratic party and now he's founding chairman of No Labels

load more comments (2 replies)
load more comments (2 replies)
[-] muntedcrocodile@lemmy.world 30 points 1 year ago
[-] Wrench@lemmy.world 16 points 1 year ago

Yes, we need someone even older to stave off the most common complaint about Biden running for reelection

load more comments (1 replies)
[-] ImFresh3x@sh.itjust.works 12 points 1 year ago

We need the house and the senate with a comfortable majority. Sanders as president without those critical conditions being met would make little difference.

load more comments (71 replies)
load more comments (34 replies)
load more comments (26 replies)
[-] RaoulDook@lemmy.world 61 points 1 year ago

$9 billion for 125k borrowers is $72000 per borrower

Would be nice if they would vanish the 40k in loans I have that I've been paying on since the Obama years. I've paid in far beyond the total amount I ever borrowed, while the compound interest just added it all back over the years. Progress has been very slow for me to pay that off, started payments with about 50k loans, after being ballooned up from the original principal from several years of economic hardship forbearance where the interest still gets capitalized.

[-] mpa92643@lemmy.world 33 points 1 year ago

You should look into the Income Driven Repayment plan: https://studentaid.gov/idr/

It's one of the new major programs from the Department of Education and can help a lot with reducing repayments while eventually being eligible for full forgiveness.

[-] HurlingDurling@lemm.ee 5 points 1 year ago

I filled out the application and both the payment and interest doubled for me, not sure where is the benefit here. Hell, maybe I lucked out with my 30 year loan

load more comments (2 replies)
[-] jeffw@lemmy.world 42 points 1 year ago* (last edited 1 year ago)

According to a White House fact sheet, the new measures include:

  • $5.2 billion in additional debt relief for 53,000 borrowers under Public Service Loan Forgiveness programs
  • nearly $2.8 billion in new debt relief for nearly 51,000 borrowers through fixes to "income-driven repayment," which the White House says are borrowers who made 20 years or more of payments "but never got the relief they were entitled to."
  • And $1.2 billion for nearly 22,000 borrowers who have a disability who have been identified and approved for discharge through a data match with the Social Security Administration.
load more comments (1 replies)
[-] buzz86us@lemmy.world 6 points 1 year ago

What a monster lol

load more comments
view more: next ›
this post was submitted on 04 Oct 2023
561 points (97.0% liked)

News

23265 readers
3965 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS