The Biden administration on Wednesday announced its plans to forgive $1.2B in student loan debt for nearly 15Kk borrowers under its Saving on a Valuable Education (SAVE) plan....
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"The Biden administration on Wednesday announced its plans to forgive $1.2B in student loan debt for nearly 15Kk borrowers under its Saving on a Valuable Education (SAVE) plan.1 People enrolled in the SAVE plan who borrowed $12K or less and have been paying their loans for at least 10 years qualified for loan forgiveness. Those who had their debts canceled received an email from the administration informing them that they essentially were debt-free."
Ridiculous. If student A worked an extra job to finish paying off their student loans and student B did not, only student B gets the reward. If student A borrowed 13k and student B borrowed 12k, only student B gets the reward. If student has been paying on their loans for 9 years and student B has been paying for 10 years, student A gets nothing. If student A's parents made more sacrifices so they didn't need to take out loans, they are learning they shouldn't have bothered. If someone takes out a loan to buy a work truck and tools to start their career in trades and someone else takes out a loan to major in philosophy, Socrates gets the loan forgiven.
Spending 1.2 billion to buy votes.