I have graduate and undergraduate degrees and even though I worked while also attending classes, I had $26K in debt. It took me about 11 years to pay it off. If you've been to college, you all know people who were on the "6 year plan", or "8 year plan", or "xx year plan," because they didn't want the parties to end and the real world to start. Would those type of guys love this idea, or what? I was ticked at the unfairness of means testing for Pell grants and scholarships, because my middle-class parents' income was imputed to me, and no one cared that my grandparents had not paid their way through school, so they refused to pay for mine. If this loan forgiveness is not means tested, what a joke that would be! If your parents did a 529 plan for you, then you don't have loans, and you don't get a penny forgiven. If you worked through school, and have very little student debt, you get very little benefit. You max out your loans, leave school owing $50K, and poof, it's gone, well how about that for an incentive? This is such dumb pandering Biden ought to be ashamed of himself, but wait, these are Democrats so that concept does not apply, it's all about votes. I hope they try to do something like this, so the 87% of people who don't have student loans will react to having their taxes siphoned off by people who chose to take out these loans and now want someone else to repay them.
I have graduate and undergraduate degrees and even though I worked while also attending classes, I had $26K in debt. It took me about 11 years to pay it off. If you've been to college, you all know people who were on the "6 year plan", or "8 year plan", or "xx year plan," because they didn't want the parties to end and the real world to start. Would those type of guys love this idea, or what? I was ticked at the unfairness of means testing for Pell grants and scholarships, because my middle-class parents' income was imputed to me, and no one cared that my grandparents had not paid their way through school, so they refused to pay for mine. If this loan forgiveness is not means tested, what a joke that would be! If your parents did a 529 plan for you, then you don't have loans, and you don't get a penny forgiven. If you worked through school, and have very little student debt, you get very little benefit. You max out your loans, leave school owing $50K, and poof, it's gone, well how about that for an incentive? This is such dumb pandering Biden ought to be ashamed of himself, but wait, these are Democrats so that concept does not apply, it's all about votes. I hope they try to do something like this, so the 87% of people who don't have student loans will react to having their taxes siphoned off by people who chose to take out these loans and now want someone else to repay them.