The 2022 Student Loan Forgiveness FAQ You've Been Waiting For

NEW POST! 2022 Student Loan Forgiveness FAQ

When I heard that President Biden was pushing through a massive federal student loan forgiveness initiative, I knew exactly what I had to do. I dropped what I was working on and immediately grabbed my phone. I texted Piggy, my coblogger, to let her know what truly mattered in this situation: that I was right, and she was wrong, neener neener neener. You see, back in March of 2021, I wrote a…

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On Wednesday, President Biden announced a sweeping effort to forgive up to $20,000 of federal student loan debt for Pell Grant recipients, and up to $10,000 for other qualifying borrowers. Biden also extended the federal student loan payment pause through Dec. 31.

"In keeping with my campaign promise, my Administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023," Biden said in a tweet on Wednesday.

about fucking time goddamn

You do not pay back Pell Grants! That was money permanently given to you for school. If you qualify for the new $20,000 loan forgiveness, that DOES NOT include anything about paying back Pell Grants! Because you do not pay back Pell Grants! I'm seeing a surprising amount of confusion about this on twitter, including from older people, so I'm here to set the record straight. YOU DO NOT PAY BACK PELL GRANTS. If any financial institution or person has tried telling you otherwise, they are lying to you. Pell Grants are a grant, meaning that money was freely given to you for a specified purpose: school, in this case. Your student debt is only your loans and whatever interest they have accrued. Pell Grants are free money for college. Free money for being poor. You do not repay them.

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WRITE 31 DAYS - TIL / Day 1

WRITE 31 DAYS – TIL / Day 1

1 October – Today I learned: That Lois Dickson Rice (1933-2017) — daughter of Jamaican immigrants, 1954 Phi Beta Kappa graduate of Radcliffe College, and the mother of Susan Rice, who is the U.S. Domestic Policy Council director now and the former National Security Advisor — was instrumental in creating the Pell Grant, which gives low- and middle-income college students money (not loans) for…

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Student loan forgiveness could help more than 40 million

Student loan forgiveness could help more than 40 million

2022-08-24 00:02:30 WASHINGTON (AP) — More than 40 million Americans could see their student loan debt reduced — and in many cases eliminated — under the long-awaited forgiveness plan President Joe Biden announced Wednesday, a historic but politically divisive move in the run-up to the midterm elections. Fulfilling a campaign promise, Biden is erasing $10,000 in federal student loan debt for…

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Student Debt Crisis Sees SOME Relief

Student Debt Crisis Sees SOME Relief #studentloans #studentdebtcrisis #studentdebt #FAFSA #PLSF #collegestudents #collegedebt #pellgrant #collegelife #healthcare #cancelstudentdebt #cancelmedicaldebt #universalhealthcare #backtoschool

The idiom used by Benjamin Franklin “…In this world, nothing can be said to be certain, except death and taxes.” is used very often in our society. Why doesn’t he mention student debt? Because it wasn’t an issue in colonial times. Education was more like a home-school situation than a government situation. Taking a look back at the post about the history of religion, we can recall Harvard was…

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Biden declares understudy loan help for borrowers making under $125,000 following quite a while of extraordinary interior discussion

Biden declares understudy loan help for borrowers making under $125,000 following quite a while of extraordinary interior discussion

Biden declares understudy loan help for borrowers making under $125,000 following quite a while of extraordinary interior discussion President Joe Biden reported his arrangement for pardoning understudy obligations for certain borrowers Wednesday, which incorporates excusing $10,000 for borrowers who make under $125,000 each year and broadening the installment freeze one last time for the rest of…

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I got accepted into my top choice grad school 😇

Guess who is opening emergency commissions because a personal issue regarding school just landed on my lap...

Reblogs are appreciated. Contact me on [Twitter], Tumblr Messages, Ko-Fi Messages, or email [[email protected]]

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On Wednesday, Senate Health, Education, Labor and Pensions (HELP) Chair Bernie Sanders (I-Vermont) and Rep. Pramila Jayapal (D-Washington) reintroduced a proposal to make higher education free at public schools for most Americans — and pay for it by taxing Wall Street.

The College for All Act of 2023 would massively change the higher education landscape in the U.S., taking a step toward Sanders’s long-standing goal of making public college free for all. It would make community college and public vocational schools tuition-free for all students, while making any public college and university free for students from single-parent households making less than $125,000 or couples making less than $250,000 — or, the vast majority of families in the U.S.

The bill would increase federal funding to make tuition free for most students at universities that serve non-white groups, such as Historically Black Colleges and Universities (HBCUs). It would also double the maximum award to Pell Grant recipients at public or nonprofit private colleges from $7,395 to $14,790.

If passed, the lawmakers say their bill would be the biggest expansion of access to higher education since 1965, when President Lyndon B. Johnson signed the Higher Education Act, a bill that would massively increase access to college in the ensuing decades. The proposal would not only increase college access, but also help to tackle the student debt crisis.

“Today, this country tells young people to get the best education they can, and then saddles them for decades with crushing student loan debt. To my mind, that does not make any sense whatsoever,” Sanders said. “In the 21st century, a free public education system that goes from kindergarten through high school is no longer good enough. The time is long overdue to make public colleges and universities tuition-free and debt-free for working families.”

Debt activists expressed support for the bill. “This is the only real solution to the student debt crisis: eliminate tuition and debt by fully funding public colleges and universities,” the Debt Collective wrote on Wednesday. “It’s time for your member of Congress to put up or shut up. Solve the root cause and eliminate tuition and debt.”

These initiatives would be paid for by several new taxes on Wall Street, found in a separate bill reintroduced by Sanders and Rep. Barbara Lee (D-California) on Wednesday. The Tax on Wall Street Speculation would enact a 0.5% tax on stock trades, a 0.1% tax on bonds and a 0.005% tax on trades on derivatives and other types of assets.

The tax would primarily affect the most frequent, and often the wealthiest, traders and would be less than a typical fee for pension management for working class investors, the lawmakers say. It would raise up to $220 billion in the first year of enactment, and over $2.4 trillion over a decade. The proposal has the support of dozens of progressive organizations as well as a large swath of economists.

“Let us never forget: Back in 2008, middle class taxpayers bailed out Wall Street speculators whose greed, recklessness and illegal behavior caused millions of Americans to lose their jobs, homes, life savings, and ability to send their kids to college,” said Sanders. “Now that giant financial institutions are back to making record-breaking profits while millions of Americans struggle to pay rent and feed their families, it is Wall Street’s turn to rebuild the middle class by paying a modest financial transactions tax.”