The Biden administration's latest draft proposal outlines 17 different factors that could qualify borrowers for student debt relief due to financial hardship.
I was gonna make some joke like “is one of them ‘being pressured into taking out a predatory loan at age 17?’”, but then I went to actually read the article, missed the “Continue Reading” button, and mistook the list of “Trending Now” links at the bottom of the page for the qualifying factors… I was very confused as to why:
Your 50-year-old mom building a $1.3B startup
Being a 29-year-old making $125,000 working in tech without a bachelor’s degree
The value of bitcoin being ‘halved’, or
Nvidia stock prices soaring over the past 5 years
Would qualify someone for debt forgiveness. Hell, I was confused why your billionaire mom would let you take out student loans to begin with. I thought billionaires loved nepotism. And who’s this guy with student loans without a bachelor’s degree? Needless to say, I had assumed the whole administration had lost its mind.
(“being pressured into taking out a predatory loan at age 17” is not, explicitly, one of the 17 factors.)
I was gonna make some joke like “is one of them ‘being pressured into taking out a predatory loan at age 17?’”, but then I went to actually read the article, missed the “Continue Reading” button, and mistook the list of “Trending Now” links at the bottom of the page for the qualifying factors… I was very confused as to why:
Would qualify someone for debt forgiveness. Hell, I was confused why your billionaire mom would let you take out student loans to begin with. I thought billionaires loved nepotism. And who’s this guy with student loans without a bachelor’s degree? Needless to say, I had assumed the whole administration had lost its mind.
(“being pressured into taking out a predatory loan at age 17” is not, explicitly, one of the 17 factors.)
None of those really sound all that far removed from the classic “loan forgiveness for pell grant recipients who operate a small business for three years in a disadvantaged community”.