Federal student loan borrowers can expect “the most affordable student loan plan ever”, Biden said in a video address on Tuesday announcing significant changes to the debt from higher education held by over an eighth of the country.

  • Flying Squid@lemmy.world
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    1 year ago

    “Most affordable ever” does not mean “most affordable possible.” He tried that. SCOTUS stopped him. He’s doing what he can to make the situation better.

    • goforliftoff@lemm.ee
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      1 year ago

      Honestly I think this is better on the whole. Not if you were going to get your loans forgiven - I get that - but for today and tomorrow’s borrowers, this policy will be a positive thing and will still help current debt holders, too.

      • Olgratin_Magmatoe@startrek.website
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        1 year ago

        It can actually end up having the effect of causing tuition to go up.

        When student loans became loans that couldn’t get forgiven, and federal student loans became widely accessible for poor students, tuition prices got jacked up because the universities knew that they could get away with it. I imagine a similar thing will happen here.

        The only true solution is to have free public higher education like the rest of developed nations do.

        • afraid_of_zombies@lemmy.world
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          1 year ago

          The true solution was to not mess with the system we had. Where the state schools were nearly free and debt was easy to discharge. The problem was they made it impossible to discharge.

      • Morcyphr@lemmy.one
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        1 year ago

        This program will actually save my family more money than the program shut down by SCOTUS. Our loans were never (and are never) going to be completely forgiven, and that’s fine. We owe collectively ~$90k. This plan is a manageable path to payoff for us, at least.

    • SupraMario@lemmy.world
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      1 year ago

      Fed loans should be scrapped, the reason college is so expensive is colleges see that the gov will give loans to anyone and back them up. The second that this became the norm, these colleges just saw a blank check.

        • SupraMario@lemmy.world
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          1 year ago

          So you’re solution is to allow people who have no savings and negative net worth to borrow hundreds of thousands of dollars that they cannot get rid of even via bankruptcy? If college tuition was 3k a semester or per year…way more people could afford it.

              • stratoscaster@lemmy.zip
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                1 year ago

                … putting a cap on tuitions based on poverty line? Subsidizing tuitions for people relative to poverty line? There are many ways to accomplish this it’s not impossible to make tuitions reasonable for people who can afford them and attainable for people who can’t. We all benefit from people being more highly educated

                • SupraMario@lemmy.world
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                  1 year ago

                  So the person who is $1 above the poverty line gets shafted? Most students could just not be claimed by their parents and instantly be below the poverty line.

                  • stratoscaster@lemmy.zip
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                    1 year ago

                    Also you have to actually be independent to claim yourself as independent… have you actually gone through that process? You have to literally provide proof that your parents either A) could not help fund your education or B) are estranged or dead, and also have to sign an affidavit. Source: I had to do this myself in college

                  • stratoscaster@lemmy.zip
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                    1 year ago

                    What? You do know that the poverty line is used as a base reference often right? Usually government assistance programs will qualify based on anyone below X% of the poverty line like 200% or something. You don’t have to be at or below the poverty line to qualify.

                    I really don’t know if you’re being serious, but the points you’re bringing up seem like nonsense. Obviously there are ways to manage these things, it just depends on how you want to go about it.