So fuck over poor people and old people instead, got it.
Biden doesn't want to fight for 50,000 student loan relief. It's too hard
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FACT SHEET: House Republican Proposals Hurt Children, Students, and Borrowers, and Undermine Education
Congressional Republicans are holding the nation's full faith and credit hostage in an effort to impose devastating cutbacks that would hurt children and undermine education, raise costs for hardworking families, and set back economic growth. And they are demanding these slashes while separately advancing proposals to add over $3 trillion to deficits through tax giveaways skewed to the wealthy and big corporations.While President Biden's plan invests an additional $11 billion to improve education while lowering everyday costs of essentials like child-care for families, House Republicans' proposal to cut a broad range of critical programs by 22% will:
- Gut Funding for Low-Income Students. The proposal would cut approximately $4 billion in funding for schools serving low-income children, impacting an estimated 26 million students and reducing program funding to its lowest level in almost a decade—a cut equivalent to removing more than 60,000 teachers and specialized instructional support personnel from classrooms.
- Reduce Support for Students with Disabilities. Under the proposal, as many as 7.5 million children with disabilities would face reduced supports—a cut equivalent to removing more than 48,000 teachers and related services providers from the classroom.
- Slash Mental Health Support for Students. The House Republican proposal would limit educators' abilities to address student mental health issues and prevent violence, suicide, and drug abuse by cutting Title IV, Part A funding for schools by about $300 million.
- Make College More Expensive. A 22% budget cut would likely eliminate Pell Grants altogether for 80,000 students while reducing the maximum award by nearly $1,000 for the remaining 6.6 million recipients, making it harder to attend and afford college.
See below how these reckless cuts would impact education in each state:
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- District of Columbia
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Puerto Rico
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
They emailed me about taking a repayment deal saying it'll be worse if you don't accept this deal. It gets my loans outta default and makes me eligible for more student aid which I will need if I do law school.
I really should consider moving to Germany and do free law school there.
I really should consider moving to Germany and do free law school there.
Biden administration proposes new rule to prevent students from incurring crippling debt at for-profit colleges
By Katie Lobosco, CNN
Updated 7:10 PM EDT, Wed May 17, 2023
amp.cnn.com
The Biden administration proposed a new rule Wednesday meant to prevent students from taking on an unaffordable amount of student loan debt to attend for-profit colleges and certificate programs at nonprofit colleges.
An earlier version of the rule, known as "gainful employment," was proposed under the Obama administration and later rescinded by the Trump administration in 2019.
The Biden administration's version of the rule will be the "strongest" yet, said Education Secretary Miguel Cardona on a call with reporters.
Also on Wednesday, the Department of Education proposed a new regulation that aims to bring increased transparency to the true costs and financial outcomes of nearly all undergraduate and graduate degree programs, including both nonprofit and for-profit colleges.
The department expects to release the final regulations by October, following a public comment period. If successfully finalized by November 1, the rules will go into effect on July 1, 2024.
How would the gainful employment rule work?
The proposed rule aims to identify low-performing for-profit colleges and certificate programs at nonprofit colleges, meaning those whose graduates had high student loan payments relative to their income.
This would be measured in two ways under the proposed rule. First, the Department of Education would set a minimum threshold for students' debt-to-earnings ratio. Second, at least half of graduates from a program will be required to have higher earnings than a typical high school graduate in their state's labor force who never pursued a postsecondary education.
Programs that fail at least one metric would be required to warn students that the program is at risk of losing access to federal aid, like student loans and Pell grants for low-income students. Those programs that fail to meet the standards on the same metric twice in a three-year period would lose access to federal aid.
Career Education Colleges and Universities, a trade group that represents for-profit colleges, criticized the proposed rule for excluding the majority of programs at nonprofit colleges.
"The rule unfairly targets programs at proprietary institutions and fails to account for the unique challenges facing students and communities that career-oriented programs serve," CECU's president and CEO Jason Altmire said in a statement.
Biden's student loan system overhaul
The proposed gainful employment rule is the latest change the Biden administration seeks to bring to the federal student loan system.
The Education Department has made it easier for borrowers who were misled by their for-profit college to apply for student loan forgiveness under a program known as borrower defense to repayment. To date, $14.5 billion has been canceled for nearly 1.1 million borrowers who were cheated by their for-profit colleges or whose schools suddenly closed, Cardona said.
The Biden administration has also made it easier for people to qualify for the Public Service Loan Forgiveness program. It is also working on a new income-driven repayment plan that will lower eligible borrowers' monthly payments and reduce the amount they pay back over time.
Biden's separate one-time, student loan forgiveness program has been taken up by the Supreme Court, which is expected to rule in late June or early July. If allowed to move forward, the program would cancel up to $20,000 in federal student loan debt for eligible low- and middle-income borrowers.
By Katie Lobosco, CNN
Updated 7:10 PM EDT, Wed May 17, 2023
Biden administration proposes new rule to prevent students from incurring crippling debt at for-profit colleges
The Biden administration proposed a new rule Wednesday meant to prevent students from taking on an unaffordable amount of student loan debt to attend for-profit colleges and certificate programs at nonprofit colleges.
amp.cnn.com
The Biden administration proposed a new rule Wednesday meant to prevent students from taking on an unaffordable amount of student loan debt to attend for-profit colleges and certificate programs at nonprofit colleges.
An earlier version of the rule, known as "gainful employment," was proposed under the Obama administration and later rescinded by the Trump administration in 2019.
The Biden administration's version of the rule will be the "strongest" yet, said Education Secretary Miguel Cardona on a call with reporters.
Also on Wednesday, the Department of Education proposed a new regulation that aims to bring increased transparency to the true costs and financial outcomes of nearly all undergraduate and graduate degree programs, including both nonprofit and for-profit colleges.
The department expects to release the final regulations by October, following a public comment period. If successfully finalized by November 1, the rules will go into effect on July 1, 2024.
How would the gainful employment rule work?
The proposed rule aims to identify low-performing for-profit colleges and certificate programs at nonprofit colleges, meaning those whose graduates had high student loan payments relative to their income.
This would be measured in two ways under the proposed rule. First, the Department of Education would set a minimum threshold for students' debt-to-earnings ratio. Second, at least half of graduates from a program will be required to have higher earnings than a typical high school graduate in their state's labor force who never pursued a postsecondary education.
Programs that fail at least one metric would be required to warn students that the program is at risk of losing access to federal aid, like student loans and Pell grants for low-income students. Those programs that fail to meet the standards on the same metric twice in a three-year period would lose access to federal aid.
Career Education Colleges and Universities, a trade group that represents for-profit colleges, criticized the proposed rule for excluding the majority of programs at nonprofit colleges.
"The rule unfairly targets programs at proprietary institutions and fails to account for the unique challenges facing students and communities that career-oriented programs serve," CECU's president and CEO Jason Altmire said in a statement.
Biden's student loan system overhaul
The proposed gainful employment rule is the latest change the Biden administration seeks to bring to the federal student loan system.
The Education Department has made it easier for borrowers who were misled by their for-profit college to apply for student loan forgiveness under a program known as borrower defense to repayment. To date, $14.5 billion has been canceled for nearly 1.1 million borrowers who were cheated by their for-profit colleges or whose schools suddenly closed, Cardona said.
The Biden administration has also made it easier for people to qualify for the Public Service Loan Forgiveness program. It is also working on a new income-driven repayment plan that will lower eligible borrowers' monthly payments and reduce the amount they pay back over time.
Biden's separate one-time, student loan forgiveness program has been taken up by the Supreme Court, which is expected to rule in late June or early July. If allowed to move forward, the program would cancel up to $20,000 in federal student loan debt for eligible low- and middle-income borrowers.
Student Loan Forgiveness: Biden Administration Eyes More Updates To Application Process For PSLF
The potential changes, announced on the heels of several other improvements, are designed to streamline access to a key federal student loan forgiveness program.
www.forbes.com
Student Loan Forgiveness: Biden Administration Eyes More Updates To Application Process For PSLF
Adam S. MinskyMay 26, 2023,
US President Joe Biden speaks in the Rose Garden [+]AFP via Getty Images
The Biden administration confirmed this week that officials are exploring new updates to the student loan forgiveness application process for public service borrowers. These potential changes, announced on the heels of several other improvements, are designed to streamline access to a key federal loan forgiveness program that has had a troubled history.
Here’s the latest.
Student Loan Forgiveness Had Been Elusive For Public Service Borrowers
The Public Service Loan Forgiveness program, or PSLF, has long been touted as an opportunity for borrowers who work in lower-paying jobs in the nonprofit and public sectors. PSLF can lead to full federal student loan forgiveness after a borrower makes 120 “qualifying payments” — the equivalent of 10 years — while working as a full-time employee for a qualifying organization.
But PSLF has been plagued by problems since Congress and President Bush first established it through statute in 2007. Complicated rules, haphazard implementation, and poor oversight led to numerous problems. These issues culminated in shocking denial rates for borrowers — as high as 99% for several years.
President Biden established a number of “fixes” designed to address these longstanding programs. In 2021, the administration established the Limited PSLF Waiver, which temporarily relaxed some of the usual PSLF requirements and expanded what can count as a “qualifying payment.” Over 600,000 borrowers have received student loan forgiveness under the waiver so far.
While the waiver has ended, the IDR Account Adjustment has extended many of its benefits, giving millions of borrowers another shot at student loan forgiveness. And new regulations set to go into effect this summer will codify certain elements of both programs.
Biden Administration Wants to Automate Student Loan Forgiveness Process for PSLF
In addition to these broad initiatives designed to relax some of the PSLF program’s strict and confusing rules, the Biden administration is also taking steps to improve the application process.This week, top Education Department officials confirmed that the administration is working to automate PSLF applications for loan forgiveness, at least for federal employees. "We’re looking at doing data matches with other federal agencies, so we can automatically credit people with public service,” said Under Secretary of Education James Kvaal in remarks to the Reagan Institute earlier this week.
Currently, borrowers must affirmatively submit PSLF applications certifying their employment in order to receive credit toward student loan forgiveness. And their employer must sign the application to confirm their dates of employment. This can be a cumbersome process, particularly for large organizations or in situations where a borrower left their job long ago. Automating the application process could remove a significant barrier to student loan forgiveness for millions of federal employees.
The Education Department successfully implemented a separate data sharing initiative with the Social Security Administration to identify borrowers who are disabled and may qualify for loan forgiveness through the Total and Permanent Disability (TPD) Discharge program. Through that initiative, over 300,000 borrowers have automatically received $6 billion in student loan forgiveness, according to the department.
Other PSLF Improvements May Help Streamline Student Loan Forgiveness
The recent announcement follows several other relatively new improvements to the PSLF application process that the administration has also been implementing.A new feature to the online PSLF application portal allows borrowers and employers to electronically sign and submit employment certification forms. This will cut down on errors associated with a paper application — where simple technicalities can result in an application’s rejection — and increase the chances that a borrower’s application will ultimately be approved.
In addition, the Education Department has been expanding its PSLF “Employer Search” database. This allows borrowers to check in advance whether their employer may qualify for PSLF. If borrower’s then use the online PSLF Help Tool to complete their employment certification, the employer’s data can be automatically pre-loaded into the application. This can effectively function as a “pre-approval,” since to be in the department’s employer database, the department must have already approved the employer as qualifying for PSLF.
“When you select an employer that is already in the employer database, it does not need to be reviewed for employer eligibility when it is received by the PSLF servicer,” says Education Department guidance. “While a manually created PSLF form will still be reviewed, it will take longer for your employer’s eligibility to be determined and your payment counts to be updated.”
Further Student Loan Forgiveness Reading
House Passes ‘Catastrophic’ Bill Nullifying Student Loan Forgiveness Credit For MillionsIf The Supreme Court Rejects Student Loan Forgiveness Plan, Biden Could Do This
Lowering Student Loan Payments Just Got Easier Amid Uncertainty Over Loan Forgiveness
Student Loan Forgiveness Eligibility Expanded In 3 Ways Under New Account Adjustment Guidance
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McCarthy: Student loan payment pause ‘gone’ under debt ceiling deal
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thehill.com
They need to say they don't want the United States to continue as a country and get it over with. Muthafuckas ain't going to be taking out no loans to be become doctors, lawyers or any other professional field the benefit just isn't there. Why do some shit like that when I can become a social media influencer or some other shit and earn more money doing that.
that's their real goal, to get those ideas out of your head, take your ass to publix and make that a 30 year career, they don't like the class seperation, feel it's only for them not you.
All of the delay is just making things worse. They need to go ahead and wave the interest or they need to go ahead and wave the debt. All of this political posturing is just making things worse and people more anxious.
I got my degree damn near 30 years ago but I see less of my friends children willing to go to college and accumulate a lifetime of debt.
Nah, it just gives Biden and the Dems something else to run on. Another carrot to dangle in front gullible Democratic voters.
Student-loan payment resumption without debt relief will hurt economy
The student-loan payment resumption will be "very bad for the macroeconomy" if borrowers are footing bills they can't afford, an expert told Insider.
www.businessinsider.com
It really isn’t. This is the nation of sharecropping.
That's def one way of looking at it.
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