Series

Student Loans, A Story In Many Parts

Link in Bio with Jenny and Alejandro
How did Biden manage to forgive another $1.2 billion in student loans?
the details
The Biden administration announced on Wednesday that it is canceling another $1.2 billion in student loans for 153,000 people. A total of 3.9 million borrowers have now been given relief, a “Biden clapback” after the Supreme...
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Show transcript
00:00
Hey, did you hear about Biden's,
00:01
loan forgiveness thing that's going on?
00:04
No. Well, I mean,
00:04
I've heard of it but it keeps going back and forth,
00:06
back and forth. Exactly.
00:08
Well, it sounds like it's back again for good because,
00:12
well, Puerto, see.
00:13
So originally, like you said,
00:14
it was back and forth right after the Supreme Court blocked Biden's
00:18
you know,
00:19
forgiveness plan for student debt.
00:21
his administration explored other alternatives to kind of bring it
00:25
back. Right. And it sounds like we have a success
00:29
story in that here and it sounds like their plan is gonna
00:33
work. So essentially his team wi 100 $38 billion for nearly
00:37
4 million people. Right?
00:39
And with the you save plan,
00:41
if someone borrowed less than 12 K for college,
00:44
they can get it all forgiven within 10 years of payments.
00:46
But how like, how can you tell if you're eligible?
00:49
Because I know some people like that.
00:51
I, I talked to some friends of mine and they're like
00:53
oh, no,
00:53
but I'm not eligible.
00:54
But like, how can you tell?
00:55
So to find out if you're eligible,
00:57
you actually receiving a email from President Biden himself,
01:00
maybe not him but his team,
01:01
right, letting you know,
01:02
hey, you're eligible for this new safe plan.
01:05
And it's funny because,
01:07
it seems a little more low key and his team
01:10
is worried that people aren't gonna know that,
01:11
hey, he's doing this dope stuff for you guys as you
01:14
know, it's a,
01:14
you know, election year.
01:15
So all the, you know,
01:17
he's all the brownie points,
01:18
I think. Yes.
01:19
Yes, I agree.
01:20
I think if he does this,
01:22
he'll definitely be in a little more of the good graces,
01:26
you know, with,
01:27
with, with people that went to college and that need the
01:31
help. We'll just have to see.
01:33
Hopefully this isn't, it is all wishy wash in the,
01:35
in the past, but hopefully this moves forward because it kind
01:38
of sucks to, you know.
01:40
Oh, we're doing it.
01:40
We're not, we're doing it.
01:41
We're not, you know,
01:42
kind of getting them excited to the point where you don't believe
01:45
it anymore. Oh,
01:45
ok. Again, we'll see.
01:48
We'll keep you posted.