from the Education Department has found that 81% of all applications for debt relief before the online form closed in November came from the bottom 80% of congressional districts based on average income, and the bottom 80% of those districts have more borrowers eligible for relief than the top 20%.
A member of the United Automobile, Aerospace and Agricultural Implement Workers of America told Warren in the report that if the Supreme Court strikes down the debt relief, it"would mean that the possibility of my future as a homeowner or retire evaporate and I'm going to continue the cycle of working until I die as a renter living paycheck to paycheck.
Still, Republican lawmakers have been adamant that canceling student debt broadly is unfair to those who already paid off their loans or did not borrow for college. GOP lawmakers also contend that the relief would benefit the highest earners.
But Warren's report suggests that many Americans want this relief, and financial consequences could be severe without it.Failing to implement debt relief would put a strain on younger and older borrowers alike. A member of the Debt Collective said in the report,"I'm putting all of my hope into this process finally getting approval. I haven't allowed myself to imagine another scenario because I may not continue even trying to exist everyday if that happens.
Another 64-year-old member said that"the thought of having the loan payments starting again in general and without cancellation terrifies me. It means I might have to take a second job or use my 401K retirement money to pay for the loans. I [cannot] plan for retirement."60 days after June 30, or 60 days after the cases are resolved, whichever happens first, meaning payments could still resume if the Supreme Court strikes down student-debt relief.
It’s an absurd statement to call it “forgiveness” and should be sued for false advertising. It’s not “forgiveness” when the tax payers have to pay for it. That’s a bailout. Make the banks and universities pay for it then we’ll talk
And why BI doesn’t know this is the bigger mystery
All well and good but it doesn’t make student loan debt relief legal. If Warren wants the federal government to pay for college then there is a legislative process to do so. Asking the courts to create laws that are actually federal programs is backwards.
Sorry seem too many students use their student loans for vacations and other things non school related. If they didn’t get a certain rate for being a student I wouldn’t care.
Don't trust Warren
It's called personal responsibility.. You'll have to figure it out yourself..
If Joe Biden were being intellectually honest about his actions to cancel student debt he would name them 'The Burdening of People who didn't go to College with the Debt of those who did Act'. Biden's student debt forgiveness plan may cost taxpayers an average of $2,000 per CNBC.
Go to work pay back your loans the American way
Stop whining and change the bankruptcy laws. If the SC strikes it down, those in financial dire means will file anyway. Just make student loans dischargeable for those who are seriously burdened by them.
And we are supposed to trust the opinion of Warren?
Dems trying to cover their tracks. The usual crap from these people. They are destroying the nation.
My loan was a scam because my school shut down and I told them I am NOT paying it back. There's no reason to, it was given for a scam product. The scam artist should pay not the victims. Now mine was forgiven then unforgiven... Republicans are KILLING AMERICANS.
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