Plan targets borrowers who accrued high level of interest on debt and those who have been in repayment for at least 20 years
Archived version: https://archive.ph/wuLke
Fester ( @Fester@lemm.ee ) English15•3 months agoSo, does the interest just start accruing again after it’s cancelled? Until a future president decides to throw another bone?
And I don’t really like that the long-promised 20-year forgiveness plans are being portrayed as dependent on the whims of a benevolent president. That shit needs to be locked in as the permanent bare minimum light at the end of the tunnel for borrowers who signed up for it in the first place, whether it’s today or 20+ years ago.
Midnitte ( @Midnitte@beehaw.org ) English5•3 months agoNot sure discharged loans work that way, but Biden’s SAVE plans already eliminated interest for the most vulnerable, and already promised erasure after 20 years.
And after 20 or 25 years, any remaining debt gets erased.
Not sure that’s something that will be made permanent with the way congress works…
uis ( @uis@lemm.ee ) 7•3 months agoGood news I guess? I’m not from America, but how about fixing education so students don’t need loans at all?
BurningRiver ( @BurningRiver@beehaw.org ) 11•3 months agoBecause we have half the country who can’t stand the idea of being educated.
Zuberi 👀 ( @Zuberi@lemmy.dbzer0.com ) 5•3 months ago0 chance this happens, and 0 chance it helps even if they actually passed it
Just executive order that shit away or stop “suggesting” things lol
FiveMacs ( @Fiivemacs@lemmy.ca ) 3•3 months agoOr, 100% chance this happens to only the rich ones who went to super ‘prestigious’ schools and will only cover like 30 people.
Zuberi 👀 ( @Zuberi@lemmy.dbzer0.com ) 1•3 months agoBingo