Current Events > The Biden Administration's Student Loan Debt Plan

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--Zero-
08/24/22 11:50:42 AM
#1:


Hes forgiving $10k for people without pell grants and $20k for people that used pell grants.

More details this afternoon.

https://twitter.com/potus/status/1562462774969581570?s=21&t=pIHGXxy-mHYVjsx-T7EEgA

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Tyranthraxus
08/24/22 11:56:07 AM
#2:


Nice

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Bad_Mojo
08/24/22 11:56:50 AM
#3:


How about posting in one of the other topics on the front page?

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Questionmarktarius
08/24/22 11:57:39 AM
#4:


So is this something that just happens, or is paperwork involved?
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--Zero-
08/24/22 11:58:18 AM
#5:


Bad_Mojo posted...
How about posting in one of the other topics on the front page?

How about shutting the fuck up

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Tyranthraxus
08/24/22 11:58:43 AM
#6:


Questionmarktarius posted...
So is this something that just happens, or is paperwork involved?
Details to follow.

Because it's means tested though chances are paperwork is involved.

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DeadBankerDream
08/24/22 11:59:35 AM
#7:


That sounds pretty nice. I'm sure the American left will scream and cry lik babies that they didn't get 100% of what they wanted so it's basically worthless.

What's a Pell grant and why would getting a grant mean you get to get more debt forgiven? Feel like it should be the other way around.

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Questionmarktarius
08/24/22 11:59:43 AM
#8:


Tyranthraxus posted...
Because it's means tested though chances are paperwork is involved.
IRS already has that paperwork.
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Tyranthraxus
08/24/22 12:01:19 PM
#9:


Questionmarktarius posted...
IRS already has that paperwork.
Just because the IRS has it doesn't mean your lender has it.

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#10
Post #10 was unavailable or deleted.
Tyranthraxus
08/24/22 12:02:08 PM
#11:


DeadBankerDream posted...
That sounds pretty nice. I'm sure the American left will scream and cry lik babies that they didn't get 100% of what they wanted so it's basically worthless.

What's a Pell grant and why would getting a grant mean you get to get more debt forgiven? Feel like it should be the other way around.

It's probably cheaper for the government to forgive pell granted loans.

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--Zero-
08/24/22 12:04:38 PM
#12:


[LFAQs-redacted-quote]


Yeah that's why I'm waiting for details this afternoon to know more. I personally only owe under $3k now so either way I'm not paying it anymore it seems.

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ZMythos
08/24/22 12:04:46 PM
#13:


Dark Brandon II: The Campaign Promises Strike Back

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DeadBankerDream
08/24/22 12:05:46 PM
#14:


Tyranthraxus posted...
It's probably cheaper for the government to forgive pell granted loans.
Wikipedia says Pell grants aren't loans to be repaid.

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Tyranthraxus
08/24/22 12:07:38 PM
#15:


DeadBankerDream posted...
Wikipedia says Pell grants aren't loans to be repaid.

I mean there's less subsidies on loans supplemented with pell grants so the government can cover more debt at the same cost.

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--Zero-
08/24/22 12:08:33 PM
#16:


DeadBankerDream posted...
Wikipedia says Pell grants aren't loans to be repaid.

They're free money actually. I think the point that applies to pell grants with this forgiveness plan is people that used pell grants need more help since to get approved for a pell grant you would need to be low income according to the government.

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TendoDRM
08/24/22 12:11:00 PM
#17:


--Zero- posted...
Yeah that's why I'm waiting for details this afternoon to know more. I personally only owe under $3k now so either way I'm not paying it anymore it seems.

If you used solely Pell grants, you wouldn't have anything to repay. Like myself.

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COVxy
08/24/22 12:14:00 PM
#18:


Yeah, I assume the Pell grant thing is just an indicator variable for relative need.

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--Zero-
08/24/22 12:14:58 PM
#19:


TendoDRM posted...
If you used solely Pell grants, you wouldn't have anything to repay. Like myself.

At the time that I used pell grants I was very limited to how many classes I could take before I needed a loan and what college I could go to. I also couldn't work enough or else I would make too much.

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EmbraceOfDeath
08/24/22 12:16:18 PM
#20:


Nice, that'll cover all of mine.

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AlCalavicci
08/24/22 12:17:09 PM
#21:


Thank you based Biden

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Mia_K97
08/24/22 12:18:22 PM
#22:


My parents are divorced and I was able to get pell grants by claiming my mom lol. My sister used my dad and got screwed lol.
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HairyQueen
08/24/22 12:53:21 PM
#23:


Gotta admit, Biden is proving to be much better than we expected.

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DKJ
08/24/22 12:54:14 PM
#24:


Fox News front page funny right now.

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Tyranthraxus
08/24/22 12:58:26 PM
#25:


HairyQueen posted...
Gotta admit, Biden is proving to be much better than we expected.

Milquetoast Biden is somehow the best president we've had since Carter.

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DeadBankerDream
08/24/22 1:20:11 PM
#26:


DKJ posted...
Fox News front page funny right now.
Their top three lifestyle stories are all about individuals who paid off their student loans by ingenuity and craftiness rather than evil government money.

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Gwynevere
08/24/22 1:46:54 PM
#27:


Pretty good, much better than anticipated for sure

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NatsuSama
08/24/22 1:53:13 PM
#28:


Promises Made, Promises Kept!

Jokes aside, I owe about 11,400. So this is great news to me lol.

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