this post was submitted on 21 Feb 2024
249 points (96.3% liked)

News

23284 readers
3568 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
 

The impacted borrowers are people enrolled in the SAVE Plan.

The Biden administration will begin automatically relieving student debt for another 153,000 people on Wednesday, bringing the total number of Americans approved for debt relief to nearly 3.9 million.

President Joe Biden will tout the new debt relief in a speech from Los Angeles, and thousands of people will receive an email from the president informing them that they now qualify for relief.

"Congratulations — all or a portion of your federal student loans will be forgiven because you qualify for early loan forgiveness under my Administration's SAVE Plan," the email from the president will read.

The people receiving debt relief beginning Wednesday are those who enrolled in the newest student loan payment plan, called the SAVE Plan, which the Department of Education calls the most affordable plan for the majority of borrowers.

Anyone enrolled in the SAVE Plan who took out less than $12,000 in initial loans and has been paying them down for the past 10 years or more will have them forgiven.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] -4 points 8 months ago (1 children)

You wean the one that required the federal government to spend money on marketing to make sure borrowers knew about the form they needed to fill out in order to allow the government to verify the borrower's income so they could decide whether they were eligible for only $10k? Yes.

Even if it wasn't blocked, it ads so many unnecessary administrative costs instead of just processing a single transaction on every account.

Even before the court's intervention, Biden has shown no interest in doing forgiveness well, neither in the amount foregiven, nor the costs of doing so.

[–] [email protected] 2 points 8 months ago (1 children)

"Only" $10k. As if $10k in relief is nothing at all.

[–] [email protected] 1 points 8 months ago (1 children)

The cost of forgiveness is not proportional to the value of the relief. $100k costs the same as $10k. The number he chose is arbitrary. It's telling he picked a small one.

[–] [email protected] 0 points 8 months ago (1 children)

You must be quite wealthy if you think $10k is not a lot of money to be forgiven.

Also, are your student loan debts really $100k? Because they're around $30k-$40k for most people. I would say 1/3 to 1/4 of the way to being debt free is pretty damn good.

[–] [email protected] 1 points 8 months ago (1 children)

Attempting to implement 1/3 to a 1/4 of a policy is failure.

[–] [email protected] 0 points 8 months ago

You're right. He shouldn't have done anything at all to help anyone if he couldn't give you a pony.