I have a good job and paid mine off already and I’d still vote like hell to get other’s forgiven.

I’m not American and have no student loans and even I’m glad he’s doing it. There might be a common stereotype internationally that Americans are fat lazy assholes, but to tell you the truth, the Americans I know or have met have been the absolute nicest people I know. The ones I work with regularly are also crazy hard workers. There’s a lot of potential for good in the US, but oppressive economic systems get in the way for a lot of people and it’s just heartbreaking to see.

I myself would love to live in the US, I’d live a very comfortable life as a software engineer, but I just couldn’t do it to my future children (there’s one well on the way) - the knowledge that they might have to go into debt for medical or education reasons is just too much for me. And while I have a good career, I’ll probably never be truly financially independent to the point I could just handle any unexpected expense regardless of magnitude.

He never stopped. As soon as the SC struck the original plan down he started the longer process. It’s been in motion the whole time.

I feel happy when someone in this position can say this instead of the ol’ “I did it so you should suffer too” to type logic haha

Like you will be paying it off forever? Or unlikely to be forgiven? Because those both suck but one is unacceptable

When someone is having a heart attack you don’t give them a lecture on the importance of diet and exercise.

There is a problem now, solve it. Fix the root cause next.

I agree but that would require Congress to do something. Trying to accomplish this through executive actions alone might not actually work, but it at least shows voters clearly which party is willing to take action on this issue, and hopefully we will end up with a Congress that is more in line with the will of the people.

I don’t know how many times exactly the Republicans have tried to repeal Obamacare but it’s at least 70, so yeah I have no problem with Biden hammering on this issue for as long as it takes to get it done.

The “genocide” blame is bullshit, mostly from trolls and the deliberately uninformed. Biden has been all over Israel from the start to not react “over the top”.

Here you go, friend.

President Biden will announce a new effort on Monday to reduce or eliminate student loan debt for millions of borrowers, an election-year attempt to revive his goal of providing large-scale relief for Americans struggling to pay off their college loans, a person familiar with the plan said Friday.

Mr. Biden is expected to preview new regulations by the Education Department targeting millions of borrowers, including those whose loans have ballooned because of accrued interest and others who can demonstrate financial hardship impeding repayment, according to the person, who spoke on the condition of anonymity because the regulations have not yet been formally proposed by the department.

The proposed regulations are set to be published over the next few weeks. Mr. Biden will speak about the effort during a visit to Wisconsin on Monday, which will coincide with an event on student loans with Vice President Kamala Harris in Philadelphia.

The push is a recognition by Mr. Biden and his allies of the disappointment felt by his supporters — especially young voters — when the president’s first attempt to wipe out student debt was blocked by the Supreme Court last summer. The court said that the government exceeded its authority under federal law when it attempted to cancel up to $400 billion in student loans.

Since then, the Biden administration has used existing laws to provide debt relief to smaller pockets of borrowers. Monday’s announcement is expected to eventually reach a larger group, though officials said it would still be more targeted than the across-the-board relief that the Supreme Court already struck down.

Understand Student Debt Relief Under President Biden

Key initiatives. Since he took office, President Biden has had a broad initiative aimed at alleviating the pressure on federal student loan borrowers. Here is where the plans stand:

Income-driven repayment. On August 22, the Biden administration opened for enrollment its new income-driven repayment plan, known as SAVE, in which borrowers’ monthly payments are tied to their income and family size. It will enable millions of borrowers to significantly cut their monthly federal payments, eventually by as much as half.

Once the proposed regulations are officially published in the Federal Register, it will still be months before they can go into effect because of a required public comment period. Biden administration officials expect that the new rules are likely to be challenged in court, which could further delay any reductions in debt.

Officials have said they believe the new proposed regulations would be more likely to survive legal challenges because they are based on a different federal law and they are more targeted to people in specific situations. The president’s previous effort was based on the Heroes Act, which allows the education secretary to waive debt during an emergency; the current regulations would be authorized by the Higher Education Act.

Politically, the timing is critical for Mr. Biden as he battles former President Donald J. Trump for another term in the White House.

The president’s popularity among young people, a group that was critical to his 2020 victory, has dropped significantly in the past several years. A December poll conducted by The New York Times and Siena College found that Mr. Biden is trailing Mr. Trump among voters 18 to 29, which is a dramatic turnabout. In 2020, Mr. Biden won that group by 20 percentage points.

Officials at the White House and the Education Department declined to comment on the expected regulations, which were reported earlier by The Wall Street Journal.

What you should know. The Times makes a careful decision any time it uses an anonymous source. The information the source supplies must be newsworthy and give readers genuine insight.

Learn more about our process. But details about the proposed rules have been discussed and debated for months in a series of public hearings with stakeholders. Transcripts of those meetings and drafts of the proposed regulations provide a road map for the administration’s announcement.

On Feb. 22, the department released a draft of a regulation titled “Forgiveness due to likely impairment of borrower ability to repay or undue costs of collection.”

The proposed language in the regulation said that the U.S. education secretary could waive student debt when it was determined that “a borrower has experienced or is experiencing hardship related to such a loan such that the hardship is likely to impair the borrower’s ability to fully repay the federal government or the costs of enforcing the full amount of the debt are not justified by the expected benefits of continued collection of the entire debt.”

That regulation listed 17 factors to consider when assessing whether a borrower qualifies for the hardship waiver. Those include: household income and assets, student loan balance, total loan balance, age, disability, high cost burdens for essential expenses such as health care, and “any other indicators of hardship identified by the secretary.”

On Dec. 11, discussions about potential new regulations included a proposal to allow the education secretary to waive student debt when the total amount owed by a borrower exceeds the original principal on the loan because of accrued interest.

“The secretary may waive the lesser of $20,000 or the amount by which a borrower’s loans cumulatively have a total outstanding balance that exceeds the original principal balance of the loans,” said the proposed text for the regulation distributed at the meeting.

The actual regulations published are likely to differ, at least slightly, from the ones discussed in the public meetings, the person familiar with the discussions said. But Mr. Biden is expected to embrace help for those with financial hardship and those with high balances because of accumulated interest.

I gotchu fam: http://web.archive.org/web/20240405184333/https://www.nytimes.com/2024/04/05/us/politics/biden-student-loan-debt.html

You’d rather he doesn’t?

The headline: “Biden passes new round of student loan forgiveness!”

The article: “Asian American rail workers earning between $5000 and $7000 per year, who are veterans of the Vietnam War and are currently experiencing homelessness, will now have their student loans forgiven under Biden’s new sweeping legislation.”

You must have missed it. When he tried the first time, the Supreme Court stopped him. It wasn’t a conspiracy by Biden’s administration. And since then his administration has been successfully canceling student loan debt for certain subsections of the population.

This is a giant L take.

Did you forget he started another legal process that is underway and takes time to complete?

https://www.politico.com/news/2023/06/30/biden-revive-student-debt-relief-00104482

The only thing standing in his way in previous attempts was the Republicans.

Pretty much all he can do when you have a far right court and congress

Democrats are not a monolith. They are a mix of progressives, liberals, and common sense conservatives.

Prior to 2020, that line has an r^2 of 1, so I’d say he’s doing a great job at breaking the trend.

He’s doing a lot more than any Republican would ever do.

Wasn’t there just an article on here about how the richest 1% of Americans (maybe it was globally) made 14.xx trillion in 2023? So 10% of that wealth from a single year could wipe out all student debt. I bet that’s less than what they evade in tax liability.

You’ve unironically shown that he is making an impact. Since taking office the rate of increase slowed down to the point that actual debt has gone down.

Presidents can seldom make decisions that show immediate results and drop things instantly, especially if they don’t also have Congress. Where you can see their effect is on the derivative of numbers like this, and that is a decidedly better graph.