President Biden changing mind on student loan forgiveness 'is a tremendous victory,' Rep. Pressley

[867-5309.]

"..."All we know is that the President has expressed an openness to to cancel some debt... that in its in and of itself, is a tremendous victory," Congresswoman Ayanna Pressley (D-MA) told Yahoo Finance in an exclusive interview (video above), later adding: "Any relief that we can provide people in the midst of unprecedented economic hardship as we begin to round the corner and head into a recovery from this pandemic induced recession would make a difference."

Pressley, alongside Senate Majority Leader Chuck Schumer (D-NY), and Senator Elizabeth Warren (D-MA) have repeatedly called on Biden to cancel $50,000 in student loan debt immediately via executive order on the premise that there is sufficient legal backing for the administration to do so.

"This is about the president keeping his word," Pressley stressed. "He has the authority, and I think he has a mandate from this electorate... this is about being responsive to the multi-generational, multiracial coalition, which decisively elected him."...

https://finance.yahoo.com/news/student-loan-forgiveness-biden-pressley-141234731.html


Joe doing the right thing here.

[Demsrule86]

1. The president never promised 50,000 in debt relief.

I tire of seeing Biden attacked on this issue.

[helpisontheway]

11. I agree..I think others wanted that but Biden always said $10,000..nt

[OnDoutside]

2. There's more than one way to have a positive effect on people's lives.

[Demsrule86]

3. Oh and Biden did not change his mind Representative Pressley...I have never seen

such disrespect towards a sitting president.

[867-5309.]

5. A couple of things

In all fairness, "changing his mind" was in the headline - I don't see Pressley quoted using those words.

We can discuss if Joe indeed changed his mind, but if he did I wouldn't see it as a criticism, but a strength.

[Cha]

31. It's that Yahoo writer who doesn't have

the facts then. TY

💙💛

[dsp3000]

44. frankly i am SICK of the squad.

[MichMan]

4. Where did they come up with $50k anyway?

Why that amount vs. $40k ,$75k, or any other amount ?

[luv2fly]

6. So the burden shifts to all taxpayers

And the relatively privileged college graduate escapes the debt they knowingly took on. Not a fan.

[Evergreen Emerald]

7. This is certainly a superficial take on it...

Did you feel the same when Obama saved the car industry? Or Bush saved the banks?

I am a single mom with massive debt. I will be paying until I die. I thought college would assist me in getting a better paying job and benefits for my child. Because that is what we grew up learning. I am certainly not a privileged. And certainly deserved it as much as Jamie Dimon.

Please.

[WiVoter]

8. I Agree.

👍

[luv2fly]

9. Took out my loans and paid them off over time

Even as a younger person I had the sense to understand what I was doing when I took out my loans. Does that work for everyone? Of course not, but that shouldn't shift responsibility. Just my superficial thoughts.

[BeyondGeography]

16. Me three...opposing debt relief for others because you paid yours

is like opposing a vaccine because you already had or have the disease.

[BeyondGeography]

18. +100

[USALiberal]

35. Not even close! Nt

[BeyondGeography]

39. Think again...Keep squeezing people on necessities

And see how sick this country gets.

Housing, health care and education are essentials. All three are out of control.

[Tree-Hugger]

20. +1 nt

[luv2fly]

23. Not a grudge really

I just don't support everything for everyone all the time no matter what. People make decisions, sometimes lousy ones, then we live with them.

[luv2fly]

30. Every thread? Come on I barely read most threads.

But yes I have commented a few times on this topic when it comes up. Sue me for consistency.

[Evergreen Emerald]

14. No shifting required.

I worked my ass off going to school and working and taking care of my daughter after the divorce. I have been responsible. To suggest otherwise is...a superficial take.

[Tree-Hugger]

21. You are amazing

[Evergreen Emerald]

22. awww

thank you.

[Celerity]

26. things change over time, sometimes you get the bear, sometimes the bear gets you

IF this actually happens (I am not yet convinced it will at any level of remotely wide-ranging forgiveness, but we shall see), then those opposed will just have to accept that Biden decided to do it and move on.

[Hekate]

42. It got bad over time. Really bad. It was never supposed to be a debt till death. The interest ...

… was not supposed to compound. The debts were not supposed to be sold so banks et al. could make obscene profits.

The whole system broke, and was broken on purpose.

Hope that helps.

[Tree-Hugger]

19. +1 nt

[Tree-Hugger]

10. Oh please

I've already paid the amount of my loan more than once. The interest rates have kept me pinned down with over $10,000 left. I had not idea when I graduated college that I'd marry a man who would become extremely financially abusive and that myself and my kids would end up in extreme poverty despite tremendous efforts on my own end. I'm not the only one with a story like this. But go on, judge people and put the blame on them for both predatory lending services and unforeseen circumstances. That's always helpful.

[leftstreet]

12. Probably less burden than the forgiven PPP loans n/t

[W_HAMILTON]

24. I think education is an investment in our country's citizens.

And we all benefit from a more highly educated populace, especially in today's globally competitive environment. A college education today is like a high school education of yesteryear and we should treat it as such by doing what we can to enable anyone and everyone that wants to seek higher education.

[viva la]

25. "Some rich people get social security!"

The way Democrats have been able to get all sorts of essential social programs enacted is to make them universal.

[Voltaire2]

29. Absolutely.

[USALiberal]

36. They paid for it!!

[viva la]

40. Actually, I've been paying into FICA for 50 years-

And it always seems like an enormous deduction every year... but then I saw my contributions on the form, and -- hard to believe-- it was about $52K. (I've never made much money, though I've always worked.)
And I'm going to get $1400 a month for the rest of my life. Pretty good deal, really, which I guess is why we like it!

[CrackityJones75]

32. As I climb toward retirement age

As I climb toward retirement age I know I would prefer to have an educated non-debt struggling generation or two behind me to take over. I would rather the structure the helps to support me isn’t falling apart. Fir that I am willing to pay my taxes.

[Voltaire2]

28. Time to change the framing and the narrative.

Past time in fact.
Biden needs to use EOs to deliver on promises. Even if the courts end up blocking his action, he needs to act. Student loans and pot are the two issues he could take bold steps using EOs. Just do it. Stop dithering.

[USALiberal]

34. So in 5 or 10 years we do it again? Why would anyone ever pay their loans??

[Wednesdays]

37. Maybe in 5 or 10 years there won't be any more student loans?

[Arazi]

38. This needs to be accompanied by free community college and trade school programs

And a re-structuring of the crazy interest rates on student loans .

Plus reform debt erasure laws for anyone entering public service, education, or non-profit work so it’s not impossible to get the relief you were promised.

The US is one of the last countries that put outrageous burdens on higher education. We need to reward our young folks who want to go to school. This helps all of us including seniors who already paid off their student loans by ensuring the next generation can pay for the social services net.

We ALL benefit from student loan relief

[roamer65]

41. Voltaire.

“Eventually all paper money returns to its intrinsic value…zero.”

[budkin]

43. He'll cancel 10k and that is still great

Also that's all he ever promised during the campaign.