to cancel upward of fifty thousand dollars of debt per student. Biden promised to cancel ten thousand. Once Biden was elected, the White House spent months preparing a memo detailing the Presidential authority to cancel student debt. The Administration also changed the strategy on the Corinthian Colleges debts.
Among them was Betty Ann’s thirty-year-old grandson, Jeremy, a filmmaker active in progressive politics. He has thirty-six thousand dollars of student debt from his undergraduate degree, in film and political science. Student debt has defined Jeremy’s generation. “Everyone I know has tens of thousands of dollars of student debt,” he told me. “You either didn’t go to college or you took on some amount of student debt. In my mind, it’s like paying rent. It’s just a thing you have to do forever.
But perhaps the major question at this moment is not what it would mean for the President to cancel student debts but what it would mean for the Presidentto cancel student debts. Many young voters, who significantly helped Democrats in the 2022 midterms, went to the pollsof the promised student-debt relief. Failing to deliver to these voters could pose problems for a 2024 Biden-Harris campaign. There are also economic costs to consider.
it is unfair to cancel some and not all.... my son refused to go in to debt and bypassed college completely.... colleges ...what I paid in 1970 for college, for four years would be lucky to pay for one semester today....
The answer is: He doesn’t have the authority, no matter how many times you whine about it.
Student debt? What is Student Debt? Please explain what this means and why they A Student has it. ? I am not informed of this phenomenon. Thank You!
Nobody I know has student debt. 70% of people my age in my country have a master's degree. I'll never understand how Americans are depriving themselves good education.
They cancelled PPP loans for congressmen. Of course they cancelled loans for themselves.
It's not my responsibility to pay back loans you agreed to take out.
Everyone doesn't have tens of thousands of dollars of student debt. Americans in the top tier of US wealth never take out student loans, nor do they talk about it. They're privileged. Only America's underprivileged are saddled with student debt. Such is the inequality of America.
Obviously has a small circle, or not diverse group of friends.
“Canceling” student debt is gut-wrenchingly offensive to those who chose NOT to take on student debt, or sacrificed to pay it off. Responsibility doesn’t go away because of regret. Fix the bloated/overpriced/debt-pushing university system. Adults must own their choices.
He does not have the authority to cancel student debt. But I don’t expect anyone at the New Yorker of all places to be familiar with the concept of federalism or the constitution. Hint: only Congress can appropriate funds.
Cancelling student debt would also be good for the economy because it would put more money in the pockets of borrowers, which they could then use to pay off other debts, buy a home, start a business and so on.
The New Yorker has not figured out that this “cancel student debt” thing was just a lie made up to help Dems in the midterms?
$36,000 is the price of some cars. This is not an insurmountable amount of money to pay back. Refinance to a shorter term, setup automatic payments, and gut it out for 10 years.
Lmao film and $36000 in debt 🤣😂🤣 Jeremy made some bad life choices 🤣😂
So amusing, the New Yorker never speaks to anybody who has not studied at a university. Not being from NYC and not having studied at the university is so strange
It would mean that the President wasn't committing an impeachable usurpation of power to himself.
$36K is not a lot of money in the grand scheme of things.
Dear Jeremy, I have credit card debt. The gov't should absolve me of that as well.
Bullshit
EleniSchirmer Not exaggerating when I say the end of western civilization
If people fail to make prudent financial decisions for themselves (like borrowing money that they can’t/won’t repay), then they probably will be paying rent for the rest of their lives.
Jeremy doesn't sound like a real person. - There's no way that everyone he knows has student debt. - It's extremely improbable that everyone Jeremy knows would discuss this with him. Tell your 'journalists' to talk to real people.
Why does the Executive Branch think they can cancel student debt?
Interest on debt should be forgiven for a period of time, but not the original debt.
I do have student loans. I am not jealous of those who get something I don’t because I get something they don’t at times. We need to grow up and be mature
Those who oppose: did you fight PPP loans that were ultimately forgiven? Did you fight unemployment wages during the pandemic? I worked the entire time so didn’t get to sit on a beach and earn unemployment plus extra $600! Nor did I get PPP funds that were forgiven for most.
Did you knowingly incur the debt, if so pay it and stop whining. We need the mafia to start debt collection, maybe break a few legs you know send a message
It would mean more people would learn to be responsible for their choices.
You borrow it, you pay it back. Pretty simple.
Did you knowingly accept the debt, if so pay it and stop whining
Gee , I was lucky and was able to pay off my college loan.
and a mortgage is a death pledge...
I did pay-as-you-go through an inexpensive state college -- and spent my working career surrounded by co-workers who went to much more expensive schools. Didn't see much evidence that they got a better education than me -- and I saved a fortune.
EleniSchirmer Well I guess we can pay for her being an elderly dead beat. Why should anyone pay their just debts. I guess she missed that lesson in law school.
EleniSchirmer Betty's story is one of far too many. Two thirds of student debt is held by women, and Black women are disproportionately burdened by these loans. They pay more for college + are in debt longer + earn less, which means they end up paying way more for the same degree. Cancel it!
EleniSchirmer One of the most interesting things in the article in which a person says if the Supreme Court holds that the President doesn’t have the power under the Constitution to cancel student debt, he should ignore it. That’s being an autocrat. If Congress passed a law to empower POTUS😎
EleniSchirmer Now do ALL the predatory student debt loans and make it illegal for the govt or any institution to impose such a debt sentence on the young and or/desperate. Scandalous. Priorities are completely fecked in the US.