This just generally pisses me off as a tax payer.
We know from real data that upper middle class kids are the ones who take out a lot of student debt.
We know that middle and lower class kids typically don't go to college.
So logically the pay-check to paycheck living, hard working, middle classes will end up paying off the student debt incurred by the 'entitled' and 'self-important' upper middle class kids so they can sip their $6 lattes and complain about capitalism while tapping on the keyboard of a $1200 laptop connected to a cafe's wifi. Meanwhile the working classes are AT WORK to pay for the bills incurred by latte sippers.
We know from real data that upper middle class kids are the ones who take out a lot of student debt.
We know that middle and lower class kids typically don't go to college.
So logically the pay-check to paycheck living, hard working, middle classes will end up paying off the student debt incurred by the 'entitled' and 'self-important' upper middle class kids so they can sip their $6 lattes and complain about capitalism while tapping on the keyboard of a $1200 laptop connected to a cafe's wifi. Meanwhile the working classes are AT WORK to pay for the bills incurred by latte sippers.
Education Department will cancel student debt for 115,000 borrowers
The U.S. Department of Education announced Thursday that it will forgive $1.1 billion in student debt for 115,000 borrowers.
www.cnbc.com
Education Department will cancel student debt for 115,000 borrowers
Education Secretary nominee Miguel Cardona testifies before the Senate Health, Education, Labor and Pensions committee during his confirmation hearing on Capitol Hill Washington, DC., February 3, 2021.
Susan Walsh | Pool | Reuters
The U.S. Department of Education announced Thursday it will cancel $1.1 billion in student debt for 115,000 borrowers.
The relief will go to those who attended ITT Technical Institute, a for-profit school that is now defunct. The school is accused of misrepresenting itself and steering students into pricey private loans. These borrowers didn’t finish their degrees and left the school after March 31, 2008.
“Today’s action continues the Department’s efforts to improve and use its targeted loan relief authorities to deliver meaningful help to student borrowers,” U.S. Secretary of Education Miguel Cardona, in a statement.
The Education Department under the Biden administration has now canceled student debt for 563,000 borrowers, totaling $9.5 billion.
Still, President Joe Biden remains under pressure from Democrats, advocates and borrowers to go further and cancel $50,000 per borrower in student debt for all.
Biden has asked the Education Department and the U.S. Department of Justice to review his legal authority to forgive student debt through executive action. The findings of those reports are not yet public.
“You don’t need Congress,” Sen. Majority Leader Chuck Schumer, D-N.Y., has said. “All you need is the flick of a pen.”
How would student loan forgiveness impact you? If you’re willing to share your story, please email me at annie.nova@nbcuni.com