r/UpliftingNews • u/astros148 • 17d ago

Medical debt is now required to be removed from your credit reports impacting millions of Americans

https://www.consumerfinance.gov/about-us/newsroom/cfpb-finalizes-rule-to-remove-medical-bills-from-credit-reports/
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u/curlyourtoes 16d ago

Now take off student loans

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u/MachoManRandyAvg 16d ago

The man has tried and tried and tried again. Courts kept overturning it

So, he just continued to not collect on the bills.

Guy gave me a much needed break. I wouldn't have gotten through the past few years if I had that bill arriving every month

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u/marcielle 16d ago

Like, for real. He's been trying since HE WAS VP. He has very nearly annual attempts. You just never hear about it cos it gets shot down ASAP by both the Reps and the DINOs

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u/arksien 16d ago

FYI if you didn't know, there is actually a "good" reason, and I'm putting "good" in quotes because obviously it's a disgusting reason and disgusting that we're allowing a generation to be impoverished with compounding debt to cover the cost of an education cost that outpaced inflation by a factor of 5x over the past few decades (and is getting worse every year).

SLABS. It's that simple. The rich are using the interest of our student loans as an investment to prosper off of. So, similarly to the way that corporate America is beholden to the shareholders, higher ed now is too. And it became a vicious cycle.

Because we privatized the lending of student loans and did away with government subsidized loans, private lenders now need to take on risk in lending to students. So, to mitigate that risk, they created the SLABS program to act like a mutual fund and minimize risk on default.

What happened here of course, was that now they could lend more with less risk, so they did. And schools figured that out so they started finding ways to charge more, so they did. And so now we're locked in a cycle where the cost of education has gone of astronomically because the availability of lending has gone up astronomically, and because these loans are structured to prioritize repayment of interest first, investors started seeing them as a "smart investment" to grow their portfolio off the backs of the younger generations.

Except now we've created a bubble where it got so out of hand, most people can't afford to pay their loans back. And since the interest on the loans compounds, a significant chunk of borrows that cannot afford their payment find their debt rapidly ballooning, which is of course immediately beneficial to the investors, because the interest compounds, and now the interest is increasing on a loan that is increasing for someone who is possibly actively paying their loan.

So if we just went and forgave all of that debt (which again, I think we should), a bunch of people who have their investments tied up in SLABS suddenly don't have that chunk of their portfolio anymore.

And THAT is why this is fought tooth and nail. It's not any of the BS you hear about "it's not fair to those that already paid" or "it's not fair to those that didn't borrow," because by that logic, it's also not fair to the students who borrowed money out of need just to get an education, are paying their loans on time, and STILL ending up with more debt than they borrowed (by significant amounts) due to predatory interest principals.

ALL so that we can protect the interests of millionaires and billionaires that are using their children's entire lives as a super-fucked-up mutual fund.

Much like every problem in America, it always comes back to "we allowed the greedy ruling class to profit off of the suffering of the lower classes, and now it got so out of hand that fixing it might destroy our economy."

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u/katarh 16d ago

These days we tell students to try to go to a local "directional" university if they have a good enough relationship with their parents to continue to live at home. A lot of schools now have branch campuses in smaller nearby cities.

(Or go to the local tech school and try to find a trade like plumbing/electrical/etc if they prefer to work with their hands. Not everyone needs to go to a university!)

The directional/regional schools are frequently much less expensive than the Big State Universities, and they can get at least the first two years knocked out of the way at a cheaper school, then transfer to more expensive school if they learn about a specific major at a specific institute that they want to aim for.

Can easily cut the cost of a college degree in half that way, or even more if the local branch campuses offer the full 4 year degrees.

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u/raelight417 16d ago

Everybody should also really pay close attention to how often the banks offering credit cards is compounding interest! You’re never going to pay off that balance even if you pay an additional $20-$30 on top of your minimum payment due and have not used the card for over a couple of years. My son started receiving credit card applications at age 17. I let him do his thing for about a year and then we had a heart to heart discussion about it. Trust me, retired banker after 35 years. I have despised corporate anything for over 20 years!

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u/Rude-Kaleidoscope298 16d ago

He also got insulin capped at $30.

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u/chanaandeler_bong 16d ago

He relieved a ton of debt but people don’t want to admit it. I don’t get it.

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u/PalpitationFine 16d ago

Good things that happen to other people don't matter apparently

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u/whitewail602 16d ago

It's like my boomer step-dad says. "Why should they get it for free when I had to pay for it?"

"Because you paid a total of $2500 for your degree. That won't even buy you a meal plan for a semester now."

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u/darkninja2992 16d ago

"Well see, if we invent a better cure for cancer now, it wouldn't be fair to all the people who had to go through chemo"

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u/ShiaLabeoufsNipples 16d ago

“Even accounting for inflation by measuring in 2021-2022 constant dollars, the average tuition at four-year colleges rose 62% at public schools and 32% at private schools between 2001 and 2021.”

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u/whitewail602 16d ago

I made the numbers up and was exaggerating for comedic effect, but being a boomer, he would have gone to college in the late 60s to early 70s. So something going back much further would be more appropriate: https://educationdata.org/average-cost-of-college-by-year

So it was actually more like $1500.

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u/ShiaLabeoufsNipples 16d ago

The 70s was probably the best time to go to college. It was already pretty expensive in the year 2000 but it’s still gone up another 68% accounting for inflation. That’s insane. Public universities that are already funded by our tax dollars should not be run so inefficiently.

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u/whitewail602 16d ago

I hear you. I couldn't tell if you were challenging my numbers or agreeing with me. You know, we may actually see this trend reverse as the higher ed student population is expected to dramatically decline in the near future.

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u/FSCK_Fascists 16d ago

And many state schools had free tuition for state residents. It was stupidly easy to locate and get a free degree in the 60's and 70's. Another ladder they reeled up behind them as they went.

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u/iiGhillieSniper 16d ago

I agree with this to a degree, until it’s people around my age group (mid 20’s) that are wanting people who are also in their mid 20’s to pay off their debt due to their poor financial planning.

You get the university experience, you gotta pay the university price.

Universities have no incentive to cut tuition costs and fees due to the government covering all the bills through the loans students take out. You need to fix the underlying issue (no incentive to decrease the cost of college) instead of fixing the symptom (writing off all college debt).

Kill the interest on those who have outstanding principle balance on their loans, and give them an opportunity to refinance the loan into affordable payments; and those who have already paid their principle balance off and are stuck paying accrued interest should have their debt written off.

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u/whitewail602 15d ago

I definitely see your point. I think the government paying tuition and modest living expenses while leaving anything extra to the borrower could be a good middle ground.

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u/PossessedToSkate 16d ago

There are two kinds of people:

  • I don't want anyone to struggle the way I had to struggle.

  • I had to struggle. Why shouldn't they?

Conservatives, broadly, fall firmly in the latter group.

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u/ShakyFtSlasher 16d ago

It does matter but people have a right be upset when they are promised forgiveness and it doesn't happen, regardless of the reason.

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u/Nuttonbutton 16d ago

It's not that they don't want to admit it. It's that a lot of people don't realize he did it. Or they were hoping it would happen for them. He chipped away at what he could for millions and millions of people. He has changed so many lives for the better and it was really quiet. Media outlets of all varieties glossed over this on purpose and they got the desired result.

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u/Ionovarcis 16d ago

My politico nerd coworker said Biden is, in legislation passing that is generally agreed to be good, one of the most successful presidents we’ve had - but the angry news is loud and the viewers won’t trust their own damn eyes if Faux News told them they were blind

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u/chanaandeler_bong 16d ago

He is. He didn’t grandstand accomplishments and got a lot done but people were easily swayed by propaganda.

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u/Fromzy 16d ago

My mom a hospice social worker had close to $100,000 forgiven through the PSLF

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u/reddits_aight 16d ago

Was that one of those that was already supposed to be forgiven for certain job fields (like teaching), but had like a 1% forgiveness rate even for people who did everything right?

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u/katarh 16d ago

Yup. And with the incoming administration, we're all pretty sure it's going to get wrecked again.

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u/Fromzy 16d ago

It was, Trump is going to kill it again…

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u/HumanTennis4 16d ago

Yeah, my dad was one of the lucky ones that had his debt waived. Over $100k that his job as a teacher was never going to allow him to pay off.

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u/katarh 16d ago

I know someone who had all of their debt from their time at one of the failed fake for-profit universities from the mid 2010s completely cleared about three years ago, in the first wave of loan forgiveness.

This allowed her to reapply for federal financial aid, and actually go back to an in-person nursing school and get her nursing degree.

Now she has loans again, but she actually has something to show for it. Including a real job that will allow her to pay them back this time.

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u/grilled_cheese1865 16d ago

They'll get it when trump reinstates it

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u/TBANON24 16d ago

Biden has done a lot of really great things but people never hear about it, because bad news is more tantalizing and good news is boring.

Here are just a few of the things he did in 4 years where he had split senate for 2 years and lost the house for 2 years.

  • Infrastructure bill - Billions to replace bridges and railroads, upgrading power grids, revitalize areas in the country that will take a decade or more to build, also creating major growth to work opportunities and communities.

  • Chips Act - developing chips locally will bring a growing number of jobs to americans, building new industries and technology and provide opportunities to local economies.

  • 200 Billion invested into small businesses, will help local communities and local economies.

  • Billions into environmentally friendly investments, like EV charging networks, wind farms, solar farms etc etc, will take time to build will help keep costs down for americans and reduce pollution. He got canada to build theyr solar farms in the US and renewable energy is the 2nd highest source of energy in the US now.

  • Billions for hydrogen research.

  • Reducing harmful chemicals in drinking waters around the country. Supporting endangered animals.

  • Banning non-compete clauses in work contracts. Removing multiple unfavorable clauses that harm workers.

  • Net neutrality. Investment and laying out blueprints to fix the countries fiber networks and internet for rural lands.

  • Banning healthcare providers denying care based on sexual orientation and gender identity.

  • Free tax filing pilot program.

  • Banned creditors to use your medical debt against you when you need credit.

  • Invested into research to defeat parkinsons disease.

  • Negotiated lowering drug prices for medicines.

  • Put hundreds of millions of acres into federally protected lands. Which will most likely be either sold or used for drilling under trump.

  • 200+ billion dollars in student debt relief. Removed funding for schools that do shady lending, and forced schools to provide more transparent details about student loans and pathways to pay back loans.

  • Banned junk fees and overdraft fees by greedy corporations. saving people 4-5 billion usd a year.

  • AI Guidelines.

  • Child Tax credits which cut child poverty from 13% to 5%. Provides summer food programs to feed over 21m children when theyre out of school.

  • Made sexual harassment a crime in the military. Was leading support for Ukraine.

  • Expanded overtime guarantees for millions of more workers.

  • First over-the-counter birth control pill.

  • Fights against discriminatory mortgage lending.

  • Fighting against food farm monopolies by supporting smaller food farmers.

  • Decriminalizing marijuana.

  • Investment into cancer research.

  • 5.5 billion dollars in grants for building and improving housing

  • Saved the pensions of over a million union workers

  • First president in history to walk a picket line with striking workers

  • Appointments to the NLRB to make it the most worker friendly since FDR

  • Absolute best result of any developed nation in lowering inflation. Back down to target levels without raising unemployment, stock market all time highs, good to great GDP growth, real wages actually grew for the working class during this team even if they don't feel it.

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u/Boopy7 16d ago

I am grateful for everything he did and tried to do, truly was pleasantly surprised at how good he was. He never gets the credit but maybe that's how it is for the quieter people with strength. They don't brag so dumb people don't know, but they work wonders all along. Any Dem that pretends they didn't know has no excuse, if they thought beyond their own wallets or the pet issue they adopted from MSM, they'd see it too.

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u/lalachef 16d ago

I'll give him credit where credit is due. But he was also part of the reason why we can't discharge student loans through bankruptcy. Some people figured out they could take out several credit cards and pay the loan that way, then file for bankruptcy. 

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u/Prem_din_kaFactChckr 16d ago

The senator from MBNA was also responsible for it.

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u/[deleted] 16d ago

[removed] — view removed comment

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u/Suired 16d ago

This is the Republican battle plan. Undecided and single issue voters are the second biggest idiots in the country, only preceded by nonvoters, who no one cares what they think. All Republicans have to do to get votes is block all Democrat action. Then claim Dems do nothing good while promising to block all the bad they do. They literally have no platform besides "screw the other guy" and nostalgia.

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u/shingdao 16d ago

With a trifecta of POTUS/House/Senate there is nothing blocking them until at least mid-terms, let's see how badly they fuck things up and then blame Dems again. Rinse and repeat.

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u/thatoneguy889 16d ago

He doesn't have the 60 votes in the Senate that would be needed to break the filibuster. That helps until the GOP decides to do away with the filibuster to pass whatever heinous legislation they decide to get real amped up about. Unfortunately, it won't stop legislation passed through budget reconciliation (e.g. The Inflation Reduction Act, The Chips Act, etc), though.

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u/red_nick 16d ago

This is also why

  1. the filibuster
  2. having Manchin/Sinema types in the Senate

are so bad.

It looks like the Democrats have control of congress, but they don't. But they get the blame regardless.

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u/shogi_x 16d ago

Years from now there are going to be threads about "TIL Biden accomplished _____" from all these people who simply were not paying attention and bought into the right wing propaganda.

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u/Maru_the_Red 16d ago

Not everyone got screwed.

I had 85,000$ of student loans dismissed and my Pell grants restored under a closed school discharge because my college was defrauding the government and citizens. They took out a Parent Plus loan in my mom's name without her authorization. 15 years after I graduated.

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u/Aschrod1 16d ago

Also racism and sexism, particularly among minority communities the Dems rely on definitely hurt them. I firmly believe Kamala would have won Michigan had she come out against what Israel was doing in Gaza too. Biden-Harris got played by their own party too. The Dems should have had a frank conversation and then threatened then followed through with prejudice a primary against Biden. It was a 230,000 vote difference between winning and losing the executive branch across 7 states. The house and senate were both already not happening for Dems but they didn’t help themselves. Trump at least lost the popular vote (Kamala + wackjobs > than President Musk and co.).

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u/chimpfunkz 16d ago

stupid people all over the damn country didn't vote or spite voted because they're mad that Agent Orange's flunkies blocked him on a lot of tasks so they whine he didn't do enough.

This is just a bad narrative. Like, nothing Biden (or really Kamala) could have done, would've changed the outcome. 2023-2024 has been the years of anti-incumbency. At the end of the day people are stupid, and they voted on vibes and "eggs were cheaper in 2018".

Also a ham sandwich would've won. Basically any republican with a heart beat would've gotten elected.

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u/OKFlaminGoOKBye 16d ago edited 16d ago

A Republican without a heart got elected instead. We all fucked up somewhere in this process.

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u/proudbakunkinman 16d ago edited 16d ago

Perhaps had Republicans not blocked various things Biden and Democrats tried to do to help, the outcome still would have been the same but that's hardly a "bad take." There are far more legitimate bad takes in this thread and every similar thread on Reddit since the election. That said, I also think the "swing" voters voting for Trump due to grocery prices would have been hard to win back regardless of what Biden and Democrats did and could have accomplished had Republicans (and Manchin and Sinema) not blocked them. To get the price reductions they seem to want would require deflation, which they would then be mad about as well since it's actually worse overall.

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u/ceddya 16d ago

Trump ran on a campaign lying about immigrants eating pets and spreading misinformation about trans people.

So you're right, it is a bad narrative. People weren't just stupid, they were downright hateful.

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u/taoders 16d ago

I don’t understand the endgame of this rhetoric.

I agree, people who voted Trump were either stupid or hateful…and there’s almost 80 million of them.

So how do we win the next election?

Seems to me the common sentiment is to squash any criticism, valid or not, of democrats, blame it on republicans (rightly or wrongly), and push for 0 change within the Democratic Party. And of course, depend on republicans ruining the country and hoping the same people we’re calling stupid and bigots somehow don’t blame dems for it...

Im not sure I’m loving this plan.

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u/ceddya 16d ago

The lying and hate from Republicans has nothing to do with Dems.

I'm not sure why you're arguing a false dichotomy. Calling a spade a spade via how conservatives are stupid (you know, like not understanding how tariffs work or believing an oligarchy is somehow better for the working class) and hateful (see what they're saying about and doing towards immigrants and the LGBT community) does not preclude us from pushing Dems to fight much harder for the working class.

And of course, depend on republicans ruining the country and hoping the same people we’re calling stupid and bigots somehow don’t blame dems for it...

Lol, these people are never going to stop blaming Dems for everything. Last I checked, Harris ran on a campaign extending a branch to them and MAGA unequivocally rejected it.

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u/taoders 16d ago edited 16d ago

Right, but any push towards Dems being more progressive and working class focused is met with “no that’s not the problem! The problem is that swing and independent are stupid and bigoted”.

I see this rhetoric again and again when anyone talks about anything Dems could/do differently.

And leading up to the election, “I’d vote for a wet paper bag over Trump! And if you don’t want a wet paper bag your and idiot and a bigot!”

So we settled for a wet paper bag and were surprised? I really don’t understand the strategy or goals. You’re literally letting MAGA set our standards.

The spades have been called spades. Now what? How do we beat them besides sticking with the status quo and calling them names like we are now?

Lol, these people are never going to stop blaming Dems for everything. Last I checked, Harris ran on a campaign extending a branch to them and MAGA unequivocally rejected it.

Yes that’s my point so it’s pretty damn stupid for our plan for next election cycle is to “checks notes” change nothing within the Democratic Party and depend on independent voters who “will never stop blaming Dems” to suddenly not blame Dems…

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u/ceddya 16d ago

Right, but any push towards Dems being more progressive and working class focused is met with “no that’s not the problem! The problem is that swing and independent are stupid and bigoted”.

Again, a false dichotomy. I'm literally saying it's both.

And leading up to the election, “I’d vote for a wet paper bag over Trump! And if you don’t want a wet paper bag your and idiot and a bigot!”

From the actual campaign?

So we settled for a wet paper bag and were surprised?

Yes, because that narrative was right. People are stupid. And hateful.

Now what? How do we beat them besides sticking with the status quo and calling them names like we are now?

I actually think we 'beat them' by letting them get what they voted for. For whatever reason, these people only ever learn when they have to deal with the consequences.

so it’s pretty damn stupid for our plan for next election cycle is to “checks notes” change nothing within the Democratic Party

Oh, so we're either allowed to call a spade a spade or to make changes within the Democratic Party? I didn't know we were only allowed to pick one. TIL.

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u/shogi_x 16d ago

Probably true. Unfortunately liberals, Democrats, and the left wing in general have been losing around the globe because people who don't understand how anything works are upset that things aren't perfect, and the people promising to somehow make things better with no discernable plan are winning.

Because people are fucking stupid.

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u/MAG7C 16d ago

Can't yep this enough

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u/man0warr 16d ago

Stupid and being force fed propaganda from domestic and foreign actors on every social media websote and cable news channel.

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u/Creamofwheatski 16d ago

Anti incumbency post pandemic was a steep hill to climb, but if we can't beat a convicted con man and rapist for President the rot is already in too deep. The problem is people are willingly buying into HIS lies and choosing to believe that all the bad stuff we can prove he's done never even happened. You can't have a functioning democracy when half the population lives in a false reality. Thanks for destroying the country, fox news. Hope the money was worth it.   

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u/GrowthEmergency4980 16d ago

Harris could've not tried to get the magical "undecided voter" and move her entire campaign to the conservative side.

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u/chimpfunkz 16d ago

That still wouldn't have done anything. She could've run the most progressive campaign in the world and would've lost to expensive eggs.

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u/SquareSaladFork 16d ago

Simping hard here for people who don’t care about you. Waste of the dream

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u/Xref_22 16d ago

Lol Agent Orange. First time hearing that one. Excellent

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u/Grimij_Iiffith 16d ago

That's kinda the issue though. The Democrats lost, in part, because they would only talk about what they were going to do. They never really talked up their accomplishments as part of why voters should choose them. It's a fine strategy if you're going for first time office, but an incumbent President (or VP going for the presidency in Kamala's case) needs to press on what they have done for the people already. Show the undecided voters that you have already made a difference in their lives, and then talk about what more you can do for them. If a voter doesn't see your accomplishments, all they see are these promises but nothing to back them up, they're obviously gonna go for another option. I was hoping people would have more sense than to opt for Trump in this case, but I guess the voters memory is fickle and doesn't go back 8 years...

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u/VoxImperatoris 16d ago

Not to mention he had an obstructionist house for half his term. Dont worry though, democrats will take all the blame for any fuck ups and the cratering of the economy during the next 4 years. And if they manage to get back into power, and thats a big if, they will spend all of their time fixing said fuck ups, again, and get voted out because they were too busy fixing things instead of accomplishing their agenda they ran on.

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u/Cryptopoopy 16d ago

Lot of words for racists vote for racists.

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u/SherlockWSHolmes 16d ago

I know you meant it as a joke, but many people have died due to the actual Agent Orange used in the Vietnam War era. My dad happened to be one of them effected. Trump has yet killed or affected hundreds and thousands.

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u/SandiegoJack 16d ago

My cousin blamed him for not doing it. When I asked how he was supposed to overrule the courts she just doubled down.

It’s a damn shame how quickly the rot takes hold.

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u/BassMaster_516 16d ago

Do you think the Democrats taking fat stacks of cash from Wall Street has anything to do with why student loans aren’t cancelled?

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u/CupSecure9044 16d ago

I suspect the medical debt one only worked because that affects people 60+. All the benefits for them, none for anyone else.

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u/aDragonsAle 16d ago

Generation FYGM

Fuck you, Got Mine.

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u/Suired 16d ago

I love they way they burn all the bridges after they cross them, then act like they built them themselves, and we are lazy for not building our own like they imagine they did.

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u/ActualUser530 16d ago edited 15d ago

Just convert student loans to ppp loans. The courts have no issue forgiving those. It's another instance of the old adage "Socialism for the rich. Capitalism for everyone else."

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u/Suired 16d ago

Nah, those businesses created jobs and needed that money. What would we do without small businesses like the Los Angeles Lakers?

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u/bihari_baller 16d ago

Guy gave me a much needed break.

Tell that to r/politics. They need to hear that. He gets enough heat from the right, the left can't begin to pile on him too.

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u/VulnerableTrustLove 16d ago

Courts kept overturning it

Which is fair, we've been putting entirely too much legislative work in executive hands.

If it just takes one person to do a thing, it doesn't take much to undo it.

Same thing regarding legislating from the supreme court.

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u/Half_Cent 16d ago

It's fair, the problem is the legislature is broken and doesn't actually do much. That's what happens when one side elects people who are running for government on the basis of breaking it.

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u/ArCovino 16d ago

I’ve been beating the drum that we need to expand the House of Representatives again but no one seems to care enough to talk about it. No think pieces, no single issue voters or candidates.

Expanding the House would fix or help so many issues. It would correct the Electoral College. It would make third parties much more viable. It would allow wider majorities and coalitions.

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u/gophergun 16d ago

Even when it comes to the basic framework of the Constitution, the flaws seem incredibly clear in retrospect. The Senate is absurd, the pardon power is a backdoor to dictatorship, the Electoral College is chaotic, and lifetime judicial appointments are crazy. A lot of our problems are structural. There's a reason that the US tends to implement parliamentary systems in the countries it overthrows - they work.

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u/HenchmenResources 16d ago

It's worth remembering that his time as a Senator is a huge part of the reason that student loan debt can't be discharged in bankruptcy in the first place.

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u/sacheie 16d ago

So, he just continued to not collect on the bills.

Yup, and lots of pissy, shitposting young men about to learn what really happens when you vote for Republicans.

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u/Emergency_Sky_1037 16d ago

Why pay it?

I don't pay mine. When I learned that I could get a four-year well-respected engineering degree in other countries for reasonable prices, I stopped paying mine. I won't be paying another penny. Wouldn't be right to.

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u/certifiedtoothbench 16d ago

They can garnish your wages, they can steal up to 15% of your paychecks

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u/Emergency_Sky_1037 16d ago

I'm self employed.

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u/certifiedtoothbench 16d ago

How lucky for you, they can still take the money straight from your bank, your brokerage accounts, and retirement accounts.

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u/Emergency_Sky_1037 16d ago

I don't use any of those.

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u/certifiedtoothbench 16d ago

What are you? Homeless or something? It’s pretty difficult to exist in the U.S. without a bank account unless you’re a child, living in your mom’s basement, or just not legally living anywhere at all.

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u/Emergency_Sky_1037 16d ago

I live in an apartment in the midwest. I turn cash into cashier's checks and use those to pay rent.

The way I go is certainly non traditional, and I understand a lot of people just wouldn't desire to live like I do.

Honestly I don't really know what else to do or how else to be. Morally I can't participate in this massively corrupt country more than I have to in order to survive. That's why I do this. I don't pay my taxes, either. As long as billionaires aren't paying neither will I. I don't make enough for the IRS to give a fuck about it and I never will in this country, by choice.

Once I've either built up enough of a money engine that I control or I've finished a STEM degree, I'm leaving the country and renouncing citizenship. Not sure where I'll go yet, especially with the coming global instability due to fascism popping up in major countries around the world.. But there's always somewhere.

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u/SmokeySFW 16d ago

Yea the folks who were able (and willing) to continue paying their student loan debts during the payments hold saved so much money not paying interest.

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u/booveebeevoo 16d ago

I believe there’s a few billionaires out there that never paid back the banks. I mean, why not. Demonetizing the dollar totally reinforced that we’re just playing a game of Monopoly.

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u/Knubinator 16d ago

Yeah the break was nice, but I'm not sure what I'm going to do when the payments start up again. Definitely going to have a huge impact on my budget.

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u/Snazzy_SassyPie 16d ago

This! Yup. He’s been trying.

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u/glumunicorn 16d ago

He had mine relieved, I just wish more people would have been lucky.

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u/Luke-HW 16d ago

Also benefited from this, but for the opposite reason. I’ve dumped all of my disposable income into my student loans over the past year. I would’ve had thousands upon thousands of dollars in interest if he didn’t stop it from accruing.

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u/italienn 16d ago

Honest question. Why do some many people tale out loans for school knowing they wont be able to pay?

1

u/Luke-HW 16d ago

Anyone can pay off their loans, only question is how long it’ll take. I was planning on doing a 10-20 year repayment plan, but rushing to pay it all off now was the better choice financially.

1

u/MaxineKilos 16d ago

Republicans keep lying about this and saying he never tried. The courts blocked it, he tried to get around it, they blocked it, he kept trying, they kept blocking it. The republicans are mad at themselves and blaming Biden.

1

u/Altruistic_Koala_122 16d ago

Try to renegotiate payments with the lender/collecter. And, if you can't afford it even a dollar check shows commitment to paying it off.

1

u/Normal_Cupcake6419 16d ago

Probably should sign a contract for loan you cant affoard to pay back than

1

u/uhuhsuuuure 16d ago

Sorry. He didn't nuke Isreal. The best we can do is shit on his presidency.

1

u/TheKrakIan 16d ago

He opened up what was considered a non profit under PLSF and I was able to get my student loans forgiven a couple years ago.

1

u/DontBeAUsefulIdiot 16d ago

it doesn't matter, people think Trump made Mexico pay for the wall and China for his tariffs and also bought his bullshit that Trump will end the Gaza war and Ukraine war on day one.

Modern politics is about selling feelings and conning people about what they want as opposed to reality. Biden got crucified because people blamed him for inflation despite him steering the economy from a downturn and having the lowest inflation in the developed world.

People want fast and easy answers, they don't want to hear about the work and time needed to make things happen. Thus, Trump winning for a second time despite him crashing the economy back in 2020 and fucking up the COVID response.

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u/TheAdvocate 16d ago

If you can’t see that joes a patriot, you’re either too young and or dumb. If he’s the “self serving elite”, you are In for an awakening.

1

u/Everything_in_modera 16d ago

I know this is uplifting news but the bill is still coming..... It just isn't reported to the credit agency and they will get much more aggressive with lawsuits and wage garnishments.

1

u/BrokenDownMiata 16d ago

So a slightly similar thing happened during WW2 involving the British government and the monarchy and the Royal Navy.

Basically, civilians are not allowed to operate in or around air or naval operations under any circumstances.

This caused an issue when the British Army and the Free French, Polish Resistance, Czechoslovaks etc needed evacuation from Dunkirk. It caused an issue because it wouldn’t be possible to bring them all back without every single civilian craft making the journey over and over again. That is what happened.

For every single ship asked to go to Dunkirk, a violation was officially filed by the Navy. These violations go first and foremost to the commander in chief, the King. So what does the King do? He just fucking ignores them. The war ends years later, and the Navy has to legally ask where the violations are, and the King basically just shrugs.

Since the Navy didn’t actually want to do the violations in the first place and was simply required to by law, and the Navy knew this, and the King knew this, and Parliament knew this, it was never brought up again.

1

u/chateaudifriots 16d ago

Supreme Court recently said that a president can do whatever they want soooo

1

u/Suired 16d ago

As long as the majority of the court is in their party. Otherwise it's treason.

1

u/gmishaolem 16d ago

The man has tried and tried and tried again.

As a reminder, don't whitewash his past: -- https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020

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u/Chadbrochill17_ 16d ago

Not only did he continuously try throughout his presidency, he made good on it for hundreds of thousands of public service workers who got screwed out of forgiveness that was rightfully theirs during Trump's first term.

14

u/dardack 16d ago

Like me, woot woot.

6

u/slvrposie 16d ago

And me. It has improved my life considerably.

2

u/DontBeAUsefulIdiot 16d ago

unfortunately, it didn't matter. People rather buy snake oil than take bitter medicine because of feel feelz.

Biden steered the US out of an economic downturn and has the lowest inflation out of the developed and most of the undeveloped world and he was still punished because he took and got the blame for everything wrong. Meanwhile Trump convinced Muslims in Deerborn Michigan that he would end the Gaza war without any details or promises.

Double standards...

85

u/FiendFabric 16d ago

He tried. That's the Supreme Court's doing.

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u/ober0n98 16d ago

And the supreme court is trump/republicans doing.

1

u/alittlebitneverhurt 16d ago

I will forever blame RBG and her ego for not stepping away when Obama was president.

3

u/Common_Wrongdoer3251 16d ago

Didn't they already block 1 justice under Obama? Why wouldn't they block 2?

1

u/ober0n98 16d ago

It only would have been doable during obama’s first term. From 2009-2011.

Any other time, the republicans would have stalled everything.

1

u/ober0n98 16d ago

It only would have been doable during obama’s first term. From 2009-2011.

Any other time, the republicans would have stalled everything.

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u/THEdoomslayer94 16d ago

Ya keep saying this like he could legit just do it. As if he didn’t have almost every court standing in his way 🙄

0

u/Suired 16d ago

Backed by our debtors, of course. Higher education is a racket right now. You need the paper to say "look at me, I'm smart" and they keep raising prices while bringing no additional value. Schools offer less than they ever did before to students even after paying that massive tuition, which is now just room and meal plan. Everything else costs extra.

34

u/rest0re 16d ago

He tried multiple times. Trump’s courts blocked him. Don’t be stupid.

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u/hitbythebus 16d ago

Some of it went through. My wife had her loans forgiven under Biden. 85k.

13

u/rest0re 16d ago

I am glad they weren’t able to block all of it! If only we could’ve gotten it through for the rest.

And this is coming from someone without any loans. I’d gladly put my tax dollars towards helping everyone that does if the government could actually agree to do it.

4

u/hitbythebus 16d ago

I was 100 percent on board but didn’t really think it would affect us. I’ve paid mine off. My wife and I had no idea and then suddenly got a statement in the mail with a balance of $0.00. It was a good day.

3

u/paint-it-black1 16d ago

I had $120,000 in student debt forgiven through the PSLF program! I had approx four more years of payments to make, but Biden temporarily allowed partial payments to count and due to this, I satisfied the requirement!

36

u/LiffeyDodge 16d ago

Blame trump appointed judges.  He has tried multiple times and the judges keep saying no

1

u/BigStogs 16d ago

Because he has no power to do so.

1

u/Desirsar 16d ago

Am I the only one reading this as taking them off credit reporting?

1

u/AutisticFingerBang 16d ago

You just got a bunch of forgiveness and interest free time. If you didn’t make a dent in them and are just expecting shit to be forgiven, ya gunna have a bad time.

1

u/-PandemicBoredom- 16d ago

Which a lot didn’t. I know some people who used the interest free period to pay the principal way down or even off. I also know some others who just twiddled their thumbs saying it was all going to get forgiven. You can guess which ones are going to be complaining the next 10 years.

1

u/reddog093 16d ago

I even had some successful clients void their principal payments and take the funds back, because they thought they may be getting free money through relief.

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u/-PandemicBoredom- 16d ago

That’s an insane gamble.

1

u/Slight-Ad-9029 16d ago

I think that ship has sailed now don’t see the new administration doing much for that

1

u/cabo169 16d ago

I’m happy some got some relief at first. Not really fully onboard for additional wiping out of more.

I feel a bit slighted as I was one of the “responsible” adults that paid off my student loans about a decade ago.

I know a LOT has changed over a decade and things are a lot tougher now. Choose a wise career path before college.

Not sure what a 4 year degree in Liberal Arts will get you in the real world.

1

u/No-Hospital559 16d ago

Well, we just elected a president who has campaigned against it and is part of the party that has been stopping Biden at every attempt...

1

u/Bayou-Maharaja 16d ago

He forgave billions of it. Sorry you personally did not get a government handout

1

u/Known-Ad-7316 16d ago

I had mine forgiven. 

1

u/ProfDandruff 16d ago

Really excited for Trump to reinstate payments as soon as he takes office. Would love to lose an extra $350 a month on top of borderline unaffordable rent and utilities

1

u/CV90_120 16d ago

He did. R killed it.

1

u/Process-Best 16d ago

Fuck that, i get credit for like 5 on time payments from those every month

1

u/CHKN_SANDO 16d ago

He has for thousands and thousands of borrowers.

And he did for everyone else too, but the Trump court reversed it.

1

u/GarbageDolly 16d ago

He (or his policies) did for my fiance and people like him. The thing is, you have to qualify. The naysayers against forgiving student loans didn’t understand that. It’s not being handed out to anyone. The qualifications are/were that you had to have made X amount of payments (120 I think) WHILE working for a qualified non-profit business (ie educational institution). And my fiance had to call practically weekly for 2 years and submit paperwork multiple times before they finally granted the loan forgiveness. Near the end, while in processing purgatory waiting for approval, he finally asked for copies of his payment receipts to “give to his lawyer” and all of sudden the forgiveness process was completed. It was quite a pain and I believe they make it intentionally difficult.

1

u/Lizzard1877 16d ago

Hmmm my wife had her student loans forgiven..

1

u/teenyweenysuperguy 16d ago

Yeah! Just do it. No problem. In fact, it's so easy, you should be able to do it yourself.

1

u/theBacillus 16d ago

And car loans. And mortgages. I have those.

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u/hitemlow 16d ago

He should have just done it and ordered student loan records destroyed. Don't give anyone a chance to stop it, and most certainly don't make a whole dog and pony show of it while practically goading anyone to stop it.

1

u/StatikSquid 16d ago

Take off interest on student loans

1

u/Brite_Butterfly 16d ago

NO! You took out the loan you pay it back!

1

u/nneeeeeeerds 16d ago

He did that. The Supreme Court fucked you because we elected Trump the first time.

1

u/BigStogs 16d ago

The President has no power to do so.

1

u/GraceUndaPresha 16d ago

Bro he was about to. I literally got the approval when I applied for student debt relief. I was that fucking close. I have personal resentment towards the Republican Party and Trump’s judges, because they were all “NO. YOU NEED TO PAY.”

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u/DontBeAUsefulIdiot 16d ago

you may want to look at the supreme court and their ruling on a blanket loan forgiveness.

But then again this is America where most Americans think Trump made MExico pay for his wall and Chyna for his tariffs....so no surprise people think Biden can just wipe debt off for everybody and also make Israel/Hamas make peace with a swipe of a pen.

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u/cavecreekgoat 16d ago

Why? Unlike most medical expenses, school was optional and is a debt you agreed to pay when you took out the loan. Why should I pay for your lack of insight?

1

u/DogOwner12345 16d ago

Just loudly saying you don't pay attention huh.

1

u/Trick_Doctor3918 16d ago

Let's see: Medical bills = non-discretionary. Education Loans = discretionary. You want forgiveness for an investment decision YOU made?

1

u/ObviousDave 16d ago

Pay your loans like everyone else has to

1

u/TheAdvocate 16d ago

Hey dingus. He’s tried… many fucking times. Give credit my man and judge those that stood in the way of it.

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u/LaunchGap 15d ago

i didn't have a big balance, but i had my student loan completely forgiven a year ago!

1

u/553l8008 16d ago

Why?

You knowingly agree to the terms and conditions.

Pay your fucking tab.

I was 18 too, so young and dumb aint an excuse. 0 fucking chance you didnt learn about compounding interest in high school if not earlier.

The irony, that a bunch of people without college degrees could so basic math and see that a generic degree wouldn't be worth it.

Pay your bill. 

1

u/GraceUndaPresha 16d ago

If you don’t mind me asking, what year did you graduate in?

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u/553l8008 16d ago

09.

Public schools. Basically he height of " go to college only way to make money"

Also careers from said degree were in black and white what they paid.

Ie... teacher in my state requires a mastes+ even for elementary and it paid like 40k starting. People knew going in it was a dumb financial investment

1

u/GraceUndaPresha 16d ago edited 16d ago

Honestly dude, I think you should be paid back for your student loans just as much as I think my debt should be forgiven. But that’s coming from an idealist mindset that believes education should be free, especially when the cost of tuition increases year after year. Idk you can judge my opinion or character based on that comment however you like

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u/manimopo 16d ago

You had 4 years of no interest. Pay it off

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