Trump team eyes quick rollback of Biden student debt relief

[BumRushDaShow]

Source: Politico

11/26/2024 12:27 PM EST


President-elect Donald Trump is poised to pull the plug on President Joe Biden’s yearslong push to cancel student debt for tens of millions of people as Republicans sweep into power in the coming months.

Trump transition advisers and outside allies have been discussing ways to quickly unwind the various Biden-era initiatives that offered new or easier paths to loan forgiveness for borrowers, according to two people familiar with the discussions.

The move would be the culmination of nearly four years of attacks by GOP lawmakers and attorneys general on Biden’s student debt relief policies. On the campaign trail, Trump slammed the loan forgiveness efforts — which total hundreds of billions of dollars — as “vile” and illegal.

Yet his team faces a daunting challenge: A series of recent court decisions has left the federal government’s $1.6 trillion student loan portfolio in disarray, with millions of borrowers stuck in limbo.

Read more: https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

[MuchBetterThanThis]

1. Large % of Trumpets don't have student loan debt

..so this won’t affect anyone but those who are educated-oriented. So not only won’t the media care but also his voters🙄

[Marthe48]

2. The recently graduated lawyers rwnj need

might be affected.

[Joinfortmill]

3. This will not go over well. Trump voters

likely have someone in their families that have student loans.

[Angrybob2001]

5. nt

Most likely those family members that do have student loans don't talk to them anymore

[wolfie001]

4. I feel for the young people that will get no relief from this fat orange bastard....

....but, if you voted for him: "FUCK YOU!!!!"

[IbogaProject]

6. He is making plenty of economic mistakes

Giving more money to the already wealthy slows economic activity, due to the drag in they way they spend it so slowly. On top of them just shuffling it amongst their own, buying luxury products and art from each other.

[Tansy_Gold]

7. This will push many back into poverty

It's not the loans, it's the continuing and compounded interest. Many borrowers long ago paid off the principal, but the terms are such that they can never pay off all the interest.

I'm one of them. I'm not alone.

[MichMan]

10. It's like any loan with compounded interest

Just like any credit card.

Making the minimum payment just barely keeps you ahead. Look at any credit card statement. If you pay only the minimum, it takes 10 years to pay off a few thousand dollars. If you pay more than the minimum, the time frame drops quickly.

People with student loans need to understand this

[Tansy_Gold]

11. Thank you so much for your kind words

n/t

[sakabatou]

8. I can already hear the cultists asking, "What about my student debt?"

And Dump just literally shitting on them.

[union rep]

9. Dummies didn't vote

What did they think it was going to do? Awareness a lost art, they took our colleges over lets face it.