I wonder how they’ll handle consolidated loans.
excluding debt from medical and law school, etc.
Arguably those should be cancelled, and maybe STEM too. At least medical if we want more doctors (not so sure about lawyers). I want English and History and Grievance Studies to be full freight!
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Hope this balloon floats!
Officials have reportedly floated the possibility of limiting the relief to people who earned less than $125,000 or $150,000 as individual filers the previous year. That would amount to a threshold of roughly $250,000 to $300,000 for couples who file their taxes jointly.
You’re right. This is a balloon / negotiation tactic. It kind of reminds me of Joseph R. Biden’s predecessor - without the attacks, yet. 
Also read they are considering having only undergraduate loans being eligible which would be a mess with consolidated loans.
hmm they could just forgive the undergrad portion. But I’m sure they’ll muck it up
But you’ve made payments on the consolidated loan. Did that payment get applied to the grad school debt, leaving the undergrad debt to be forgiven? Or was it applied to the undergrad debt, leaving you stuck with the unforgiven grad school debt?
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whichever one is not forgiven 
Some food for thought for all the pay your bills deadbeat crowd here:
If a kid graduates from school with $500,000 in student loans at a 7.5% interest rate they will pay over $608,000 in interest alone on a 25 year repayment. On a 10 year repayment, they will pay over $200,000.
This isn’t taxpayer’s burden. This is government (and private servicers making money off people who were duped into believing education was the key to a good future.
Oh, and most of you “I woRkED HaRd to PaY foR MaH CullEGe” people…didn’t. In the 1970’s, the states paid for 65% of the costs of college educations. By 2013, it was down to about 30%. So, y’all benefited from SocIaLIsM then took away that benefit from everyone else.
Congrats.
Generally speaking, it is. Are you sure you got the education from that graduate degree you paid so much for? You do know this, right?
Paying off Madison’s marketing degree student loans while Jose doesn’t get a dime toward the the loan he has on his white 2016 Ford F-150 filled with drywall supplies is a surefire way of losing Jose’s vote forever, while not gaining anything (Madison was already voting democrat regardless). Letting this go through - taking money from non-college educated people (who are generally poorer) and giving it directly to college educated people (who are generally richer) - will make two generations of Americans that didn’t go to college never even consider voting for democrats again. The number of blacks and Latinos you will see fleeing the democrats will be unbelievable. If you think the beating democrats have been taking because of “defund the police” was bad, you ain’t seen nothing yet. You will see a revolt if this goes through.
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If a kid graduates from school with $500k in loans, I don’t think forgiving student loans is the issue we should be solving.
- Why did it cost so much?
- Forgiving $10k or $50k doesn’t move the needle if you owe $500k.
- If owing $500k is an insurmountable burden, then don’t loan a burdensome amounts to people.
If the choice is forgive student loans or make community college and/or public 4 year schools free. I would chose the latter. At least you are solving a problem. By the same way people without loans should be ok with people with loans getting them forgiven, you could say people that have loans should be ok with college in the future being free ( without any retroactive bailout of student loans, the same as no refund for paid off student loans if others are forgiven ).
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So much talk about “considering” this or that. Trying desperately to keep people on their bandwagon, still without actually committing to anything.
It also notes that “many” Democrats are against any sort of restrictions on who is eligible.
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As would I. I don’t know if I like that choice, but at least it’s a solution. Forgiving student loans is one guy at the top pushing dirt into a pit, while people are still in the pit digging it out.
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Without Student Loan Forgiveness, the Average American Will Have $393 Cut From Their Monthly Budget
That’s some really impressive spin. They incurred this expense years ago when taking out their loans, not because their loans weren’t forgiven. If such an imposition, they should be thankful for the 2+ years of savings that wasn’t part of the deal they agreed to.
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Of course they won’t do anything til Nov midterms, and then they’ll still be talking about how they might, only if re-elected.
Someone needs to start the meme that Student Loan Forgiveness is White Privilege and it’s just an excuse and distraction from the Black Reparations we really need. That’ll sow enough intra-Democratic discord nothing will get done.
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If student loan forgiveness becomes the norm, you’ll see institutions like University of Phoenix and Walden cater shamelessly to PoC. Why not? Get student loans, use them to cover your rent and other living expenses while pretending to earn a valuable education, and then forget about repayment.
Yes, people who actually function within the intended boundaries of the system will be pissed, but the abusers will have a field day.
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Similar argument they tried to make when ending rent payment / eviction moratorium.
Should read the Average American will no longer have a $393 surplus in their monthly budget. It is the same result, but wording is more accurate.
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Some historical perspective on the student loan mess.
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Not student loan forgiveness, but related:
To hold transcripts hostage until outstanding debts are paid is an unfair, predatory practice that prevents our students from reaching their full potential.
Next week: “To hold milk and chicken hostage until the shopper has money to buy it is an unfair, predatory practice that prevents Americans from eating as much as they want.”
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Yes, she definitely deserves to be punished for being responsible and paying what she agreed to pay. Forcing her to now pick up the tab for students/borrowers who lacked that responsibility is clearly what’s fair.
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Student loan debt is a consequence of one’s own choices. Not something you are unfairly saddled with.
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