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this post was submitted on 21 Mar 2024
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John Oliver just had a good show student loans that talked about this program...
Something like 95% of people are denied for this program, and one woman had her servicer under charge her by $0.01 a month, and said none of those counted towards forgiveness. Another person had the same thing, challenged, and waited 3 years before her case was looked at. She had to keep making payments the whole time. But they fuck up so much, there's an insane backlog.
So it's good some people are getting forgiveness from this, but most of the people getting it now, were supposed to have already gotten it years ago. After years of having to keep making payments they likely don't get refunded.
And it's still barely even a rounding error in the total of 1.77 trillion.
There's nothing wrong with being happy about this, but it's nowhere near enough and it took a shit ton of noise for Biden to come this far. We can't stop pushing or they'll go back to ignoring it.
From personal experience, refunds aren't off the table. My wife has been a nurse for over 10 years. She just got a refund check from the Treasury stating that she over paid on her student loans. It wasn't an insignificant amount.
My issue is that these are years overdue, how does this man have a press conference every month about student loans, and every time its loans that would have been cancelled without him or should have been cancelled years ago. Which begs the next question, is it a win that it took three years in office to fix this? And next month when a new student loan press release comes out, what will be different?
Edited to Add because I already see downvotes and people think I am being excessive: March: https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/21/statement-from-president-joe-biden-on-nearly-6-billion-in-student-debt-cancellation-for-78000-public-service-workers/
Feb: https://www.whitehouse.gov/briefing-room/statements-releases/2024/02/21/fact-sheet-president-biden-cancels-student-debt-for-more-than-150000-student-loan-borrowers-ahead-of-schedule/
Jan: https://www.whitehouse.gov/briefing-room/statements-releases/2024/01/19/statement-by-president-joe-biden-on-nearly-5-billion-in-additional-student-debt-cancellation-for-74000-borrowers/
Dec: https://www.whitehouse.gov/briefing-room/statements-releases/2023/12/06/statement-from-president-joe-biden-on-another-nearly-5-billion-in-debt-relief-for-over-80000-student-loan-borrowers/
No comment for November, I guess to avoid reminding people their loan repayments started.
Oct: https://www.whitehouse.gov/briefing-room/statements-releases/2023/10/04/president-biden-announces-an-additional-9-billion-in-student-debt-relief-for-125000-americans/
Sep: https://www.whitehouse.gov/briefing-room/statements-releases/2023/09/09/what-they-are-reading-in-the-states-more-than-4-million-student-loan-borrowers-enrolled-in-new-biden-harris-administration-save-plan/
Aug: https://www.whitehouse.gov/briefing-room/statements-releases/2023/08/22/fact-sheet-the-biden-harris-administration-launches-the-save-plan-the-most-affordable-student-loan-repayment-plan-ever-to-lower-monthly-payments-for-millions-of-borrowers/
Jul: https://www.whitehouse.gov/briefing-room/statements-releases/2023/07/14/statement-from-president-joe-biden-on-new-student-debt-relief-actions/
One thing to remember is the supreme Court blocked him from cancelling all student debt.
https://www.cnn.com/2023/06/30/politics/supreme-court-student-loan-forgiveness-biden/index.html
So the timeline (from my memory as I recall it):
Could you provide sources for points 2 and 3? The Trump admin actually tried to simplify all the programs into just two, standard and IBR (income based repayment like the SAVE plan) and allowed for processing of cancellations. That administration also managed to use their executive power to eliminate student loan debt for disabled veterans source. Since then Biden has managed to ignore legal advice and precedent to throw up his hands and say he can't do anything for student loans. The same individual says he will stop Israel by never stopping them, it's tiring to hear people still have any faith in his words when is whole history is talking out both sides of his mouth. He was cancelled from running for president in 1988 for being a liar NYT Video and yet if I say he is lying, everyone jumps down my throat.