The Biden Plan for Education Beyond High School

[highplainsdem]

Last edited Mon Feb 3, 2020, 12:18 PM - Edit history (1)

The plan on his website:

https://joebiden.com/beyondhs/



Article about the plan:

https://www.forbes.com/sites/zackfriedman/2019/10/10/biden-student-loans/#509da17f6bbf

If you make less than $25,000 per year: you would owe no payment on your undergraduate student loans and also no interest would accrue.
If you make more than $25,000 per year: you would pay only 5% of your discretionary income over $25,000 toward federal student loan payments.


After 20 years of student loan repayment, the remainder of your federal student loans would be forgiven. The amount of student loans forgiven also would not be subject to income tax. Borrowers also would be automatically enrolled in income-based repayment, with an option to opt out. This proposal compares to the current income-driven repayment plan structure by which you pay 10% - 20% of your discretionary income and can receive student loan forgiveness on federal student loans after 20 or 25 years. However, the amount of student loan forgiveness currently is taxed. Also, you have to sign up for an income-driven repayment plan; enrollment is not automatic.


Student Loan Forgiveness: Forgive More

-snip-

Biden says the current Public Service Loan Forgiveness program is broken. So, Biden would create a new program that offers $10,000 of undergraduate or graduate student loan debt relief for each year of national or community service, up to five years. If you work in a school, for the government or for a non-profit, you would be automatically enrolled in this student loan forgiveness program.

Under the proposed program, you could apply up to five years of prior national or community service. Biden also supports the congressional legislation to fix the current Public Service Loan Forgiveness program.


Discharge Student Loans In Bankruptcy

Biden supports legislation that would allow borrowers to discharge their student loans in bankruptcy.



-snip-

[FiveGoodMen]

1. Go deeply into debt ... stay there for life.

Even if you declare bankruptcy.

[highplainsdem]

3. Apparently you didn't read what I posted.

[msongs]

2. sell off the f35s based in vermont ought to pay for some of this loan forgiveness thing nt

[MineralMan]

4. That plan makes reasonable sense.

It focuses on the future first. It doesn't pretend to solve the problems caused by past policies, like some of the plans others have suggested. It does not suggest that a free ride for everyone should be the goal, either.

I like practical, achievable proposals. The others that are neither practical nor achievable I reject as false promises.

We need plans that can be enacted by Congress, not proposals that have no chance of becoming law. We need a practical President, not a President who will fail to make his or her ideas come to fruition.

Yet another reason to support Joe Biden. At least his proposals have some chance of being implemented.

[highplainsdem]

5. +1,000,000