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150,000 more student loan borrowers to receive debt relief beginning Wednesday (abcnews.go.com)

submitted 7 months ago by [email protected] to c/[email protected]

47 comments fedilink hide all child comments

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.

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[–] [email protected] 17 points 7 months ago (28 children)

Looking forward to seeing people bitching about how they didn't get any relief (THANKS, BIDEN!) rather than being happy for those who did.

[–] [email protected] 6 points 7 months ago (14 children)

Why not both? I am stoked that some people are getting relief! That said, if we can send billions of dollars to other countries to fund wars, I feel like we can do a little more here at home.

I am fortunate that I am doing okay financially that my loan payments won’t bankrupt me but I know not everyone is in that same position. However if I hadn’t been so close to taking care of other debts before the deferment finally went away things would have gotten uncomfortably right for me and my family.

I am aware that this is a me problem but I feel like with as long as that shit was deferred and with the price gouging that is happening in literally every aspect of life right now I am allowed a little anger towards Biden for not doing more.

[–] [email protected] 5 points 7 months ago (4 children)

we can send billions of dollars to other countries to fund wars, I feel like we can do a little more here at home.

People have a profound lack of understanding about the "billions of dollars to other countries to fund wars". Honestly, it's like this country has gone full "Idiocracy".

Money is NOT sent to off countries. The "money" provides jobs to people HERE to make weapons and equipment that is sent to countries - it provides good paying jobs here. That's why House Republicans are blocking aid to Ukraine because they want to tank the economy. That is why they will try to shut down the government. That is why they working so hare to create a worsening border crisis.

[–] [email protected] -5 points 7 months ago (1 children)

People have a profound lack of understanding about the "billions of dollars to other countries to fund wars". Honestly, it's like this country has gone full "Idiocracy".

Honey, sweetie, baby, it’s a simplistic way of putting it. I’m sure that raging at strangers on the internet is a good time for you but please take some time to breathe in between so you don’t give yourself an aneurysm.

That's why House Republicans are blocking aid to Ukraine because they want to tank the economy.

Literally not part of the current discussion, but it is no big surprise to anyone what the republicans are doing.