Biden Considers Executive Order to Cancel Up to $50K in Student Loan Debt Per Borrower

Student debt is a huuuuuuge drag on the economy.

Send a paper saying you would pay this loan back it is not the tax payers responsibility

No, the taxes that my family members and all working citizens have to pay from their paychecks - should not be used to pay off other people's college debt. Why would anyone be so selfish to rob from a person who has a job (and likely did not go into debt for a college education) just to give that money (via more taxes which reduces their take home pay) to someone that made the bad choice to go into debt for a college education and now has a job that does not pay enough for them to repay that debt? What a disincentive and very disrespectful to those who work in all of the skill trades and jobs that don't require college degrees, plus those who chose to go to local colleges and work while going to school to avoid graduating with too much debt! I think everyone that supports these bills of forgiving student loans needs to be known as a robber as that is what they want to do!

To free people of this debt will free them up economically to buy more in the economy. No more need for stimulus checks!

People who owe money should pay it back themselves. Others have struggled to repay their loans but did it. I suspect that the reason the Democrats want to do this is to keep the campaign promise that Biden made just to get young people to vote for him. He should not have made the promise if he wasn't absolutely sure he had the legal power to do so.

I have watched my grandkids work and get their college educations because they were determined not to be in debt. They have also applied for lots of scholarships and luckily and gratefully received some. We all have budgets to keep and stay within and should do so and not expect to get bailed out!

I support this as a quick fix for now. Further consideration of paying for higher education needs long-term solutions. For instance, how do our college graduates stack up against other countries?

Your decision to overpay for a worthless degree is not my responsibility to pay for. If I don’t have any student debt, do I get a $50k check? Why not at this rate?!

BIDEN CANNOT FORGIVE INDIVIDUAL DEBT. However, Biden can try to borrow dollars from the Federal Reserve to pay off student debt. That means, US, the people are paying off student debt. Thanks

What about all our citizens who did without that new house or car, nail salon visits, latest iPhone, starting a family, etc to pay off student debt? Young people today want it all and they want it now! It took us 20 years to work our way to our parents’ standard of living. How does that hurt our young people. And, if someone wants a higher degree, they will have higher pay. It’s their investment in their own future.

This economy is being run by adults with the financial knowledge of children. What ever recovery we are experiencing is only due to the economic cushion built up by President Trump’s policies pre-pandemic. Left to their own devices, the Democrats will resurrect Jimmy Carter and Barack Obama level stagnation and blissfully bring the entire country to ruin.

Needs to be all of the debt so to really boost the economy, eliminate the worries with student loan debt that people have so can live their lives and be able to spend g FB or the things they can to build wealth and credit-if the banks and corporations from the 2008 crash can be bailed out so can people with this debt

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Forgiving $50,000 in student loans for borrowers would lift a massive financial burden from millions of Americans who are spending significant portions of their earns to cover loans. Instead, if loans are forgiven, people could invest in the economy by buying homes, cars, or starting businesses. Let's make it happen President Biden!

Absolutely ridiculous

I oppose this idea as it would be costly, not well targeted to need, largely unfair to those already repaid debts, and do nothing to correct the underlying issue of skyrocketing university fees. A real solution would be the implementation of a free public university system or the equivalent of vouchers and tuition caps/targets/reductions for future students. That addresses the underlying problem without randomly throwing money at the issue regardless of need, ability to repay, and amount of debt. To help current graduates, we could offer further tax breaks and easier repayment terms with lower interest rates. It would be a more equitable solution to ease the burden without absolving debt that was knowingly taken on.

Student loan lending is predatory and needs to be reformed ASAP! Graduates shouldn’t be saddled with six figure debt!

First, this is the job of the legislature not the president. Second, I could see removing the interest from student loans and giving them more time to reduce their payments, but taking $50000 off the principal of the loan is nothing short of stealing from taxpayers. This should not be allowed.

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People that take loans should always understand the cost versus the badminton the benefit. I personally know someone who’s got $80,000 of debt for a cosmetology degree...not a wise economic choice. Society should not be made to bear the burden of their bad choices. Forgive $10,000, perhaps. Forgive $50,000, no!