According to Bank Rate Monitor, Black Americans with bachelor's degrees will receive the greatest benefit as they borrow at higher rates than other racial groups. Whites come in second and Latinos are particularly adverse to debt.
See the report and data at:
I'm sure any forgiveness program will also intentionally target some kind of minority populations, for PR reasons.
This will be at best a mixed blessing, though. In all likelihood, debt forgiveness will be considered taxable income, so the forgiven populations will owe taxes on their forgiven debt.
Forgiveness is taxable?
Does Biden know that?
https://www.nerdwallet.com/article/loans/student-loans/covid-tax-break-could-open-door-to-student-loan-forgiveness
I don't think Biden knows that he did a student loan forgiveness.
Now you very well may have a point here! 😴
https://www.nerdwallet.com/article/loans/student-loans/covid-tax-break-could-open-door-to-student-loan-forgiveness
Ultimately, no one. Of course, colleges exist in a financial bubble.
Why stop at student loans? Just forgive every debt there is.
They print it anyway, right?
Exactly. One big fucking giant scam.
Biden didnt even make it happen. He promised so much, but delivered nothing. Not that I should be surprised. Because of this though, he got his voters. Should be kicked out of office next term for not even keeping his word. Not that I believe forgiving loans is good, that would just inflate the economy even more.
These are high propaganda and I believe only done due to political reasons, else governments don't give a fuck to people — minority or majority.
Where are the equal rights?
What I read: Two “almost identical schoolmates” but one black, the other one white, ask the same bank for the same loan, the black student gets it with a higher interest rate than the white student.
If so, then… wow!
They probably had different credit scores and income to debt ratio. Lenders can’t ask about race because of redlining laws
Here they are targeting farmers. They are going through different voting blocks and handing out fiat!
https://www.newsweek.com/student-loan-cancellation-forgiveness-beginning-farmers-ranchers-1898917
Stack Sats and stay humble, but whatever you do... STACK SATA!
That's true of basically all loans in the U.S. Cars, mortgages, etc.
I think the current forgiveness recipients have incomes greater than $200k
I will find the source
Would like to see this source. I'm guessing this is not true for the minority borrowers, but I could be wrong. But how could they justify if people are armed with that information.
Please share if you find it.
https://www.cbsnews.com/news/student-loan-forgiveness-7-4-billion-save-plan-pslf-cbs-news-explains/
125,000 for single. 240,000 for married couples
Is this the right link? I don't see those data in this article
Affirmative action then loan forgiveness
What’s next reparations?
This is theft and extortion