‘I Don’t Believe in a Cutoff’: AOC Says Biden Shouldn’t Means-Test Student Debt Relief

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    • #485112
      eridani
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      • Total Posts: 11,957

      https://www.commondreams.org/news/2022/05/02/i-dont-believe-cutoff-aoc-says-biden-shouldnt-means-test-student-debt-relief

      “Canceling $50,000 in debt is where you really make a dent in inequality and the racial wealth gap. $10,000 isn’t. I don’t believe in a cutoff, especially for so many of the frontline workers who are drowning in debt and would likely be excluded from relief,” Ocasio-Cortez (D-N.Y.) told the Washington Post in response to the newspaper’s story detailing internal White House discussions of income caps to restrict who is eligible for any federal student debt cancellation.

      Ocasio-Cortez stressed that a uniform nationwide income cap would not account for higher costs of living in some areas of the United States. The Post reported that the Biden administration has examined limiting relief to individuals who earned less than either $125,000 or $150,000 the previous year and couples who earned less than either $250,000 or $300,000

      In her comments to the Post, the New York Democrat also urged the administration to cancel at least $50,000 in student loan debt per borrower, well beyond the $10,000 level that President Joe Biden pledged on the campaign trail. Forgiving $50,000 in student loan debt would wipe out the entire student debt burden for 80% of federal borrowers—roughly 36 million people.

      Research published last year by the National Education Association (NEA) found that nearly half of all U.S. educators “took out student loans to pay for college, and they still owe $58,700, on average. Among them,” the NEA noted, “one in seven still owes more than $105,000.”

      Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

    • #485165
      Babel 17
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      • Total Posts: 6,791

      I can’t see restricting this cash to just those with loads of student loan debt as making a dent in the poverty of minority groups.

      Arguably, in a zero sum game, it hurts them, as the money that comes out of the pot under Biden’s plan would, if evenly divided among all low income people, would reach more low income people, as minority groups are more largely represented there than they are among those with student loans.

      No numbers to back that up, going just by what I glean from observation.

      P.S. Young small business owners who never went to college but are still in debt might appreciate some aid, and they’ll remember when the Biden administration snubs them.

      P.P.S. As long as we’re governing by Fiat, just hit up the universities like Harvard with their large endowments. Label them Russian oligarchs, and their money is yours.

      Don't Kill the Whale
      Don't feed the trolls

    • #485184
      djean111
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      • Total Posts: 8,748

      College is still very expensive, and who wants to start piling up debt, hoping it will be forgiven?  Doing something about college costs needs to happen.

      America is not a country, it's just a business. (Brad Pitt, Killing Them Softly)

      "Sometimes when I try to understand a person's motives, I play a little game. I assume the worst. What's the worst reason they could possibly have for saying what they say and doing what they do? Then I ask myself, 'How well does that reason explain what they say and what they do?'" GRRM

      A YouTube comment – we need new conspiracy theories – the old ones have all come true.

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