Until I actually see people’s balances get reduced on some official letterhead, I’m not holding out any hope.
Average student loan debt per borrower is about 30k. Rather worrisome how many people didn’t realize it was a divide and conquer tactic right off the bat.
Also pretty fucked that they didn’t build in protections to prevent states from taxing people as if they are actually getting an extra $10K.
I don’t know if they can since states can do a lot of goofy things with taxes
I’ve FUCKING CALLED IT
I can’t wait for some insane SCOTUS ruling stopping any possibility of cancellation and the Biden administration being like “oh no, well see we wanted to do one good thing, but I guess you just need to vote harder”
Well, they did use some weird provision of the 2021 Recovery Act to justify it, not the 50+ year-old law that gives the Biden admin authority to cancel student loan debt.
Yea I also heard its written in a way so that the supreme court has an easy layup on stopping it from going into effect. We will see, but I don’t have much hope that anyone will get their debts cleared.
Sorry didn’t mean to be a downer, I’m just tempering my expectations of dem establishment. I do hope it goes through, though.
