President Biden stepped up to the podium and explained his new Student Loan Forgiveness Program.
It chokes me up..
the consistent and persistent dedication to 46 and His Administration..
to put into place Good Government that targets ‘ the least of these’.
EVEN IF, he hadn’t announced anything today, I was thrilled about the Student Loan Forgiveness so far.
The swindled, targeted and hustled by scamming for-profit colleges
Looking out for these folks would have been enough.
But, the Pell Grant ‘extra help’….going to those who had the very least when going to college. …
Yeah…that’s President Joe Biden. …and his Administration.
If you need to see the FACT SHEET that the White House put out about this plan:
The income threshold of $125,000 for Individual and $250,000 per couple. That’s very generous.
IF you are still whining after the presentation today of the President’s Program, then you are an OP. You are not a serious person in the least.
In keeping with my campaign promise, my Administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023.
I'll have more details this afternoon. pic.twitter.com/kuZNqoMe4I
— President Biden (@POTUS) August 24, 2022
BREAKING: Biden to announce student debt cancelation plan:
• Up to $10,000 canceled for borrowers who earn $125,000/year or less
• Up to $20,000 canceled for Pell Grants recipients
• Payment pause on federal student loans extended through Dec. 31https://t.co/HsNkKL5UhX
— NBC News (@NBCNews) August 24, 2022
Important point – President Biden just said student loan borrowers will have to fill out a form and APPLY for this loan forgiveness. This isn't like the COVID checks that just arrived to your mailbox or bank account.
— Gary Grumbach (@GaryGrumbach) August 24, 2022
Half of all people with student loan debt owe 20k or less.
Biden’s #studentloanforgiveness is going to help a hell of a lot of people and is wider in scope than his campaign promise.
Feel free to use this when the usual suspects try to divide us over a good thing. pic.twitter.com/2SkHPl1BJB
— Steve Marmel (@Marmel) August 24, 2022
No one is talking about this but Biden’s announcement also makes it so that student loan interests won’t grow as long as people are making monthly payment
— Santiago Mayer (@santiagomayer_) August 24, 2022
@Potus just wiped out student loan debt for almost 50% of borrowers. Lowered it significantly for another 25%
— John R (@johnrennhack) August 24, 2022
Would it help to put new student loan guidelines/info into one thread to help ppl navigate & get correct information? If you have resources, links & are knowledgeable & able to help/answer basic questions or have questions. Let's drop it down below 👇👇👇👇
— LibbityBibbityBoo (@LibbityBoo) August 24, 2022
72% of Black students received pell grants so this plan disprorprotionately benefits Black borrowers. This definitely has VP's handprints on it. During her campaign she used pell grants as a way to target support for Black folks since you obviously can't use race explicitly. https://t.co/YHKthQsHzk pic.twitter.com/JV7jIXAPM4
— Reecie @BlackWomenViews (@ReecieColbert) August 24, 2022
— 💉💉💉💉 #DemCast Gail Waldby (@GailWaldby) August 24, 2022
This is worth taking a look at: pic.twitter.com/P20vcepBHP
— Bharat Ramamurti (@BharatRamamurti) August 24, 2022
This may not be the "forgive every cent" some activists wanted, but it offers some sort of relief or reform to virtually every category of student debtor, AND takes a stab at reforming the broken institutions that drove high debt in the first place.
It's a very ambitious plan.
— Matthew Chapman (@fawfulfan) August 24, 2022
Biden isn’t just forgiving a set amount of debt. He is also enacting a new policy that ends excess interest on student loans—as long as a borrower pays their minimum monthly payment (now capped at only 5% of their income), their balance will no longer increase.
This is huge.
— No Lie with Brian Tyler Cohen (@NoLieWithBTC) August 24, 2022
For the folks who keep lying about what Biden promised. pic.twitter.com/D1hCjzJ1np
— Mary is a VOTER (@MWJ1231) August 25, 2022
— Tbug 🇺🇦 (@RossTbug) August 24, 2022
REPORTER: Is this unfair to people who paid their student loans or chose not to take out loans?
BIDEN: Is it fair to people who, in fact, do not own multi-billion-dollar businesses if they see one of these guys getting all the tax breaks? Is that fair? What do you think? pic.twitter.com/HA9LzLBMSC
— JM Rieger (@RiegerReport) August 24, 2022
President Biden cut out most student loans from Black & Brown loan holders so now how will the dudebros use minorities for student loan forgiveness? I see what you did there Uncle Joe. 👀👍🏾👊🏾
— Blue Blooded Dem-Fighting Ready in the Double ✌🏾✌ (@blewis823) August 24, 2022
This is the proper reaction when you get $10,000 of your student debt forgiveness. It's called: pic.twitter.com/99Jv70hSb2
— Start Each Day With A Grateful Heart (@mpierrelouis1) August 24, 2022
So let me get this straight? $10K STUDENT LOAN FORGIVENESS FOR FOLKS MAKING $125K OR LESS.
$20K STUDENT LOAN FORGIVENESS FOR FOLKS WHO WERE ON PELL GRANTS. Need based, data driven, OVER DELIVERED on his promise!
— Brian Baez (@MentallyDivine) August 24, 2022
— Timmy Turner (@fairlyodd922) August 24, 2022
I'm at happy hour.
Someone just said, "If I'm reading this right, Joe Biden is canceling $10k of my student loans! This round's on me!"
That's how normal people are reacting.
Biden's got this. Fuck Bernie.
— Silent Amuse (@SilentAmuse) August 24, 2022
if you have a problem with the student loan cancellation because you already paid off your loans, just pretend its a tax cut for the rich that you also never got but mysteriously didn't complain about.
— Katelyn Burns (@transscribe) August 24, 2022
Common question: will student debt relief be considered income and subject to federal income tax?
Answer: No — thanks to a measure Democrats included in the American Rescue Plan last year.
— Bharat Ramamurti (@BharatRamamurti) August 24, 2022
REAL LIFE CONSEQUENCES!!
I don’t think y’all understand. ONLY my student loans stood in the way of buying a house this year. Great credit, decent income, high DTI 😭😭😭 https://t.co/HWrDBuTdDn
— meggo (@KnowItAllDoll) August 24, 2022
TELL IT KENNY!
FCK YOUR STUDENT LOANS THEN if you’re going to threaten me by not Voting 🗳 pic.twitter.com/BmlMqcKcZd
— 2RawTooReal (@2RawTooReal) August 23, 2022
Seems to me that the world owes Madame Vice President Kamala Harris another apology! Also student loan debt cancellation wasn’t via an executive order. Again if you want ALL student loan debt wiped out it has to be an act of Congress & I’m looking at you Elizabeth Warren pic.twitter.com/yXWcZjcfb4
— 2RawTooReal (@2RawTooReal) August 25, 2022