What the fück is wrong with you people?
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WASHINGTON— Joe Biden said during his presidential campaign that he would reduce student debt for millions of Americans, but his allies remain divided on the issue, and some of his supporters are losing hope he will deliver.
Melanie Kelley, 38 years old, of Denver, has $125,000 in student loans. When the Biden administration’s pandemic-related pause on student-loan payments ends in May, she will owe $1,000 a month.
“It’s become this unmanageable beast for me,” she said. “May isn’t that far away. How am I going to figure this out?” A management consultant, she said she has worked as a DoorDash driver to supplement her income, but her debt has kept her from starting a family or buying a house.
“A lot of people are not going to vote again because they feel like they’re not being heard,” said Ms. Kelley, who voted for Mr. Biden in 2020.
Ms. Kelley is one of around 43 million Americans with student debt. As a candidate, Mr. Biden endorsed canceling $10,000 in student debt per borrower through legislation and proposed forgiving tuition-related federal debt for people who earned undergraduate degrees at public colleges and universities, as well as schools that historically serve Black and minority students.
All told, Americans owe around $1.6 trillion in federal student loans and more than $130 billion in private student loans, according to the data firm MeasureOne.
Legislative efforts to forgive student debt have sputtered in Congress, and progressive lawmakers are ratcheting up pressure on Mr. Biden to take executive action, calling on him to cancel up to $50,000 in debt per borrower.
“He must do this,” Sen. Elizabeth Warren (D., Mass.) said. “It’s the right thing for generational equality; it’s the right thing for racial equality; and it’s the right thing for strengthening our economic future.”
Many Republicans oppose debt cancellation. House Republican lawmakers argued in a letter last year that doing so would be “an affront to the millions of borrowers who responsibly repaid their loan balances.”
Lew Gardner, 58, of Las Vegas, joined the Army nearly 38 years ago in part because of the promise that the government would help him repay his student loans. But he also took out private loans that weren’t eligible, and his balance peaked around $45,000 before he finished paying them off in 2005. He bristles at suggestions from elected officials that taxpayer money should be spent to forgive debt.
“What looks good is ‘Let’s just wipe the debt clean and then you’ll vote for me again,’” said Mr. Gardner, who supported Donald Trump in the 2020 election. “That’s really unfair for the taxpayers.”
Biden’s Student-Debt Pledge Stalls, Frustrating Supporters
The president backed legislation to cancel $10,000 in debt, but it is stalled, and his plans for executive action aren’t known.
www.wsj.com
WASHINGTON— Joe Biden said during his presidential campaign that he would reduce student debt for millions of Americans, but his allies remain divided on the issue, and some of his supporters are losing hope he will deliver.
Melanie Kelley, 38 years old, of Denver, has $125,000 in student loans. When the Biden administration’s pandemic-related pause on student-loan payments ends in May, she will owe $1,000 a month.
“It’s become this unmanageable beast for me,” she said. “May isn’t that far away. How am I going to figure this out?” A management consultant, she said she has worked as a DoorDash driver to supplement her income, but her debt has kept her from starting a family or buying a house.
“A lot of people are not going to vote again because they feel like they’re not being heard,” said Ms. Kelley, who voted for Mr. Biden in 2020.
Ms. Kelley is one of around 43 million Americans with student debt. As a candidate, Mr. Biden endorsed canceling $10,000 in student debt per borrower through legislation and proposed forgiving tuition-related federal debt for people who earned undergraduate degrees at public colleges and universities, as well as schools that historically serve Black and minority students.
Senate Majority Leader Chuck Schumer (D., N.Y.) is among Democratic lawmakers who want President Biden to release a legal memo detailing the executive branch’s authority to eliminate student debt.
All told, Americans owe around $1.6 trillion in federal student loans and more than $130 billion in private student loans, according to the data firm MeasureOne.
Legislative efforts to forgive student debt have sputtered in Congress, and progressive lawmakers are ratcheting up pressure on Mr. Biden to take executive action, calling on him to cancel up to $50,000 in debt per borrower.
“He must do this,” Sen. Elizabeth Warren (D., Mass.) said. “It’s the right thing for generational equality; it’s the right thing for racial equality; and it’s the right thing for strengthening our economic future.”
SHARE YOUR THOUGHTS
How should the Biden administration approach the student-debt crisis? Join the conversation below.Many Republicans oppose debt cancellation. House Republican lawmakers argued in a letter last year that doing so would be “an affront to the millions of borrowers who responsibly repaid their loan balances.”
Lew Gardner, 58, of Las Vegas, joined the Army nearly 38 years ago in part because of the promise that the government would help him repay his student loans. But he also took out private loans that weren’t eligible, and his balance peaked around $45,000 before he finished paying them off in 2005. He bristles at suggestions from elected officials that taxpayer money should be spent to forgive debt.
“What looks good is ‘Let’s just wipe the debt clean and then you’ll vote for me again,’” said Mr. Gardner, who supported Donald Trump in the 2020 election. “That’s really unfair for the taxpayers.”
