Christmas in July: Crusty Claus cancels $39B in student debt

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Since the Supreme Court put the kibosh on his original student debt cancelation program two weeks ago, the Joe Biden White House has been scrambling to come up with an alternative plan to pacify the pissed-off minions who had been anticipating escaping their obligations free-of-charge.

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It would seem Biden and his accomplices in thievery and graft have chosen a different tack. This one is called “MAGIC WAND.”

They’ve waved it and POOF!!

Over 800,000 nobodies owe nuthin’.

The Biden administration announced on Friday it would automatically forgive $39 billion in student debt for 804,000 borrowers.

The relief is a result of fixes to the student loan system’s income-driven repayment plans. Under those repayment plans, borrowers get any remaining debt cancelled by the government after they have made payments for 20 years or 25 years, depending on when they borrowed, and their loan and plan type.

See? “Automatically” – like I said – POOF!

Democrats can always find a way to make their #mathz work for whatever they need it to.

To bring people over the line for forgiveness, the Biden administration counted payments for borrowers who’d paused their payments in certain deferments and forbearances and those who’d made partial or late payments.

Frankly, it’s no wonder they hate Simon Ateba. That dude is always asking the worst questions. Almost as if some lackadaisical Secret Service agent let an American taxpayer who works in construction take his hard hat and a bag of coke into the White House press room.

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Is this legal?” Who does this guy think he is?

As for those “fixes” the SecEd claims they “found”

…”These fixes are part of the Department’s commitment to address historical failures in the administration of the Federal student loan program in which qualifying payments made under IDR plans that should have moved borrowers closer to forgiveness were not accounted for,” it continued. “Borrowers are eligible for forgiveness if they have accumulated the equivalent of either 20 or 25 years of qualifying months.”

“The Department will continue to identify and notify borrowers who reach the applicable forgiveness thresholds (240 or 300 qualifying monthly payments, depending on their repayment plan and type of loan) every two months until next year when all borrowers who are not yet eligible for forgiveness will have their payment counts updated,” it also said.

…a blind man who’d paid off HIS student loans could see the “fixes” were in. And why.

People are snortin’ fire at the unrelenting assaults and workarounds.

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“There’s no accountability.”

My poor cheapo calculator is still a tad stressed out and overheated from the wind farm/renewable energy exercise I put it through yesterday, but it was able to do this division, in spite of the multitude of zeros involved. Biden’s next slice of government largesse works out to a Christmas in July average of $48,750 per 800K recipients.

Not bad for not doing a damn thing to earn it but shirk your freely taken obligations.

HOW much more damage can we take?

Now there’s a question.

There is a required public comment period on the give-away scheme.

…The administration must undergo a public comment period before the plan can go into effect, delaying its potential implementation.

I hope it’s lit af.

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Beege Welborn 8:00 PM | December 02, 2024
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