Just 60% of student loan borrowers made a payment when the bills resumed in October. "This is, in essence, a massive student debt strike," one activist said.
Uh. Pretty sure that student loan legislation far predates Biden’s presidency. Unless you’re referring to his time as senator and have a particular bill in mind?
You mean he amended the bill that was going to be passed by the Republicans anyway after being successfully shelved by the Democrats for six years.
“I had a choice, it was going to pass — Republican president, Republican Congress, and I offered two amendments to make sure that people under $50,000 would not be affected and women and children would go to the front of the line on alimony and support payments,” Biden said in March 2020. “I did not like the rest of the bill, but I improved it, number one.”
I’m sorry you’re tired of being downvoted for misrepresenting and distorting facts, but maybe you should get your facts straight and it wouldn’t happen anymore.
Okay, Joe Biden voted for that bill in 05, gotcha. Seems like the vote was “I promise to vote for this R bill that is likely to pass anyway, so long as they include my amendments to soften it,” although Elizabeth Warren seems to think even that was capitulating too much to the Rs.
Like a lot of other policies, current Biden seems to be working to undo some of his past voting record. Not a bad trend, at least.
The only way that would happen is if financial entities can unwind their student loan debt derivatives that are larger than their total holdings, so that would tank the economy.
The best part? If student loans aren’t paid or are forgiven without unwinding, the debt is worthless and the derivatives implode which would cause an unwinding that would be multiples worse than 2008.
So people with student loans have a gun to the heads of Wall Street and the economy, Wall Street has a gun to their own head and the economy. The only way to avoid an economic failure is for loan payments to happen because that is how the system was designed.
This could be good. If students default en mass congress might be forced to enact debt forgiveness
You got some wishful thinking there buddy.
Unfortunately student loans are one of the few types of loans you cannot default on or get relief through bankruptcy. From what I understand, anyway.
You can thank Biden for that one.
Uh. Pretty sure that student loan legislation far predates Biden’s presidency. Unless you’re referring to his time as senator and have a particular bill in mind?
Yes he is the one that wrote the bill that makes it so you can’t discharge student loan debt during bankruptcy. He is directly responsible for that.
Tired of being downvoted for stating facts. We should be able to hold him responsible for bad legislation that he as not even try to correct.
You mean he amended the bill that was going to be passed by the Republicans anyway after being successfully shelved by the Democrats for six years.
I’m sorry you’re tired of being downvoted for misrepresenting and distorting facts, but maybe you should get your facts straight and it wouldn’t happen anymore.
https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020
Okay, Joe Biden voted for that bill in 05, gotcha. Seems like the vote was “I promise to vote for this R bill that is likely to pass anyway, so long as they include my amendments to soften it,” although Elizabeth Warren seems to think even that was capitulating too much to the Rs.
Like a lot of other policies, current Biden seems to be working to undo some of his past voting record. Not a bad trend, at least.
Lol, if only you had any idea how ignorant that take really is
How ignorant you are to not know about it.
No, they’ll just garnish your wages
The only way that would happen is if financial entities can unwind their student loan debt derivatives that are larger than their total holdings, so that would tank the economy.
The best part? If student loans aren’t paid or are forgiven without unwinding, the debt is worthless and the derivatives implode which would cause an unwinding that would be multiples worse than 2008.
So people with student loans have a gun to the heads of Wall Street and the economy, Wall Street has a gun to their own head and the economy. The only way to avoid an economic failure is for loan payments to happen because that is how the system was designed.
Too bad 🤭