- House Republicans are reviewing a bill that would overhaul the student-loan system.
- It proposes limits on the education secretary for getting new forms of relief to borrowers.
- Democrats introduced their own package to address student debt, but it’s unlikely to advance.
Perfect ammo to use against them during campaigning
My wife was just notified that her 6 figure student loan was forgiven. We’re still dazed and not sure it’s real, or that it won’t be overturned later.
She has been paying it for 20 years, fell for one of those refinancing scams that John Oliver did a segment on, where she was yelling “that’s what they told me!!” the whole time. It seems impossible, but after 20 years of minimum payments without fail, $1400/mo at times, she still had well over 100k in student debt (phd).
We figured the refinancing into the wrong loan would disqualify her. We thought if she did get some relief, it would be 10-20k, which isn’t nothing, but wouldn’t change much.
And now it’s wiped clean.
This is what relief feels like. We just signed a one year lease, but we’ll be in a much better position to buy at the end of the lease (market permitting).
This is what the Republicans want to take away from the working class, so they can give the mega rich more tax breaks.
I’m so happy for you guys! I hope it sticks ❤️
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This is what the Republicans want to take away from the working class, so they can give the mega rich more tax breaks.
This can’t be repeated enough. You paid heavily for 20 years into a predatory loan, and they think you should continue paying heavily with no end date in sight.
Man, Republicans sure love shooting themselves in the foot and tripling down on the worst types of policy.
These grifters do nothing to help anyone but themselves and their donors. The only legislation they put forward is for show with no chance of passing or is designed to hurt a minority of the population.
Caps student borrowing. According to the bill’s fact sheet, the bill would cap student-loan borrowing at $50,000 for undergraduate students, $100,000 for graduate students, and $150,000 for students in graduate professional programs.
What four-year school can someone attend for $50,000? That was the yearly cost of attendance when I went to college twenty years ago. Granted, I attended an expensive private university, but I assume most schools have caught up in the past two decades.
Will this bill essentially price out low income kids?
20 years ago you could go to an in-state public school (without housing and food) for $5k/year in Indiana. Nowadays the same school has a tuition of $16k/year without housing. There are cheaper in-state universities going for around $10k/year, but that’s still a minimum of $40k for 4 years without housing or food or car or health insurance or internet or utilities.
Democrats: Try to help people
Republicans: “Not on my watch!”
Just a reminder: the person driving this effort is Virginia Foxx. You may remember her from HR 1313 which was a bill she pushed for that would allow health insurance companies access to your DNA to change your premiums. Where did she get this wonderfully dystopian plan? The health insurance companies setup a lobby/thinktank specifically to advance this bill and made contributions to her PAC. If it had passed it would have hollowed out GINA by allowing employers to terminate based solely on possible hirer premiums.
The woman is scum
Honestly, it’s kind of nice that the republicans are constantly so hellbent on reminding all of us what heartless bastards they are so that only the stupidest, most utterly hateful, and goldfish memory forgetful of the population could possibly want them in power.
But muh guns.
Their voter base never went to college, so they see it as a win.
That’s how you Protect the Working Class! Instead of using Tax Dollars to GIVE them money you use Tax Dollars to make their Monthly Bills go UP!
