Republican lawmakers launch an effort to block student-loan borrowers from enrolling in Biden's new plan intended to lower monthly payments
Republican lawmakers launch an effort to block student-loan borrowers from enrolling in Biden's new plan intended to lower monthly payments
Senate and House GOP lawmakers introduced bills to block the SAVE income-driven repayment plan ahead of the resumption of student-loan payments.
cross-posted from: https://lemmy.world/post/4525044
GOP lawmakers have introduced bills to overturn Biden's new SAVE income-driven repayment plan.
The lawmakers say the new plan is an overreach of authority and will cost taxpayers.
Borrowers can now apply for the SAVE plan before bills become due next month.
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This makes a lot of sense when you recognize:
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Republican lawmakers primarily act in the best interest of the capitalist investor class that donates to them
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The Student Loan Asset-Backed Securities market is over $1.5 trillion
They're not opposed to student loan forgiveness out of principle, or just to be jerks for its own sake. It's all about preserving low-risk investment instruments.
Oh, I'm pretty sure the fact that it hurts people is a bonus for them. They get to please their investors and hurt Americans, it's a 2 for 1 deal for them.
Most assholes aren't cartoonish moustache-twirling puppy-kickers, they're just greedy.
And yet we've learned over the last few years that many are. Sometimes the cruelty is the point.
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