Joe Biden Cancels 3 Billion Worth of Student Debt

Joe Biden has cancelled almost $3 billion worth of student debt since his inauguration in January of 2021.

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    songofsickness

    Almost $3b is 0.17% of US student debt. With an average effective interest rate of 5.8%, the debt will grow by another $10b or thereabouts just by the end of this year.

    This is nothing. Literally less than nothing.

    tiki god

    and it was only for people that had federal loans for schools that defrauded their students. All those poor souls that were convinced to take out private loans are well and truly fucked.

    Old Tofu

    yet it will still make a difference in those people’s lives and is still quite a bit more than the NOTHING that republicans want to do

    songofsickness

    If only the Democrats had complete control of the White House, Senate and Congress and could make an actual difference any time they wanted…!

    One can dream…

    Saborlas

    “complete control” XD

    Someone has never heard of the filibuster.

    songofsickness

    They could start work to abolish that at any time too, but it’s much better strategy to get wiped out in the midterms and then blame obstructionists, don’t you know.

    Old Tofu

    the problem being once it’s eliminated then when it swings the gop’s way again they’ll go even more hog wild at filling their pockets and gutting agencies than they did this last time

    songofsickness

    What if… and stay with me on this… the Democrats got really popular by doing things like governing and making ordinary peoples’ lives materially better? Have they tried that?

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    Old Tofu

    you mean doing things like lifting them from debt? or making healthcare readily available and free? paying for education so people can get it without going broke? . . . have you heard of bernie sanders? the candidate true democrats wanted

    songofsickness

    Yes, doing these fine things you mention. Not tweeting about them, then saying “Now is not the time…!”.

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