#yahoofinance #biden #studentloans #scotus #supremecourt
The Supreme Court blocked President Biden’s student loan forgiveness plan to cancel $430 billion of debt. Payments will restart for borrowers in October, after a three-year pause. Lawrence Sprung, Mitlin Financial Founder and Author of “Financial Planning Made Personal,” joins Yahoo Finance Live to discuss planning for loan repayment.
Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb
About Yahoo Finance:
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.
Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more.
To learn more about Yahoo Finance Plus please visit: https://yhoo.it/33jXYBp
Connect with Yahoo Finance:
Get the latest news: https://yhoo.it/2fGu5Bb
Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq
Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP
Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz
Follow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV
Biden’s plan B that he just announced should be challenged in court too! He needs Congressional approval for any tinkering with student loans, now that the pandemic crisis is over!
He doesn’t know where Congress is
I was at a retirement seminar and the speaker spoke on how he quit his job after he made well over $950,000 PROFIT within 3months he invested $120,000. I just need creative ideas to afford my retirement.🚀
Yes I Agree, I’ve been talking to NICK DRANCHAK for long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring..
I’m happy to see NICK DRANCHAK mentioned, he is recognized worldwide, my neighbor recommended him to me after investing £19000 and he has been a blessing to us
@rub tyson please do you mind sharing any means of reaching out to him?
@Luca Gheorghe You can run a quick online research with his name if you care for
supervision. I basically follow his market moves and haven’t regretted doing..
@Luca Gheorghe He’s Active online through his website.
Imagine someone saying that the “worst case scenario” is that a borrower has to repay their debt. How crazy would that sound. Coo-coo. 🤪
because they are now used to so many free things from the government
Because they are self entitled.
OMG, teaching college educated students budgeting 101. “We have a two trillion dollar problem”, your personal debts are not my problem. No bank will give a restructuring loan without collateral, you are blowing sunshine up their backside.
take some money back from ukraine and pay it.
Why not take money back from the ppp loans that went to the rich and were forgiven????
It was a ploy the whole time only a idiot would have fallen for this.
Said the Trump Cult guy 😂
It’s not the tax payer’s responsibility to pay for your education, you want that degree, you pay for it.
Amen!
100%……Good ole Joey wants to continue burdening the taxpayers.
Then why do you not have any problem with the ppp loan forgiveness which is staggeringly higher than the cost of student loan forgiveness? You’re either a selfish prick that got a ppp loan or you’re an ignorant ahole that don’t even realize that you ultimately paid for those that did. Either way, it’s not a good look for you!
Don’t sign up for useless loans and your choices Biden choice is your problem.
Get rid of that new car you just bought last year 😂
Well, they sure as hell weren’t saving any money for a rainy day like this of having to repay their student loan. It’s been 3 years of nearly no payments…..so what were they doing with that money?? Spending for a good time? Let’s pretend the pandemics didn’t happen, so where would they be now……still paying that loan.
Boo hoo 😂
Geee… Every generation before you had to pay back their loans. What makes you think that you are so special that you should have your loans forgiven?
PS – $5000 in 1965 equals $47,564 in todays money.
Amusing that these “educated” students don’t understand inflation.
So the student loan bullshit.
Watch suicides increase this year and for the elderly. They don’t care as long as it has a stock buybacks. Hold your loved ones close and remember this, may have helped when saying your final goodbyes.
This wasn’t about Biden, but was made about Biden.
That’s why I have rejected Biden since he teamed up with bathousebarry
All the stuff he’s saying is a no brainer.
Not really. He completely dodges the question with what you’re supposed to do if you’ve already tailored your budget down, and still can’t afford to pay. Pretty dumb for the financial planner to not even have an answer for it. Even the hosts know that moving your public loans into a private loan is an absolutely moronic approach.
If SCOTUS didn’t fancy itself as a collection of kings, they would not have stepped on the President’s turf. Wall Street is buying up properties and driving up rents so much that we’re having more homeless people. There is no end to their greed. Many wealthy took huge windfalls of PPP loans, sometimes millions of dollars they are not paying back. Many who would get this $10000 debt relief already pay more taxes than billionaires. And GOP billionaires own SCOTUS. Even if you believe no one should get help (the little non billionaire people), it should disturb you that SCOTUS is owned by billionaires who wanted this outcome which is probably why it happened.
Cry more.
Trump 2024
Plan B: Go to a school you can afford or learn a trade
@keslynnguyen8927 37k compared to $200.000 is a huge difference & although everything has increased ridiculously, you’ve made it work to pay your way so Mother’s struggling to provide food for their kids don’t get burdened with the tax burden from your education. Outstanding!
Have Hunter threaten the Chinese again for the money
How about reforming the terribly corrupt higher ed system that requires (allows?) 18 year olds to pay outrageous tuition?
Oh, silly me. That’s crazy talk.
Pretty dumb to even entertain the notion of moving your debt into private loans. Not only are the interest rates on private loans terrible, but as mentioned when pressed on it, he said it would preclude you from being able to take advantage of any public remedy. He basically just dodged the question entirely about what you would do if you couldn’t actually afford to pay.
If the financial planner cannot even tell you what to do, then you can imagine just how tough, economically, this is going to be for America in the next few years if this is not actually addressed. Also, we need to not only address the current debt situation, but abolish the financial aid system entirely. It caused a lot of market distortions, and we are seeing the detriment now.
How can legal Americans disrupt, be disruptive to the construction/maintenance services when it’s currently being worked by those who accept less and are residences/illegal/temporary visa without long term plans to be in America????
So can we now sue to make them rescind the ppp loan forgiveness? Please tell me what the difference is in that besides a vastly larger amount of money went to many already wealthy and in gov right now? Just imagine how much tax payer money could be clawed back from the wealthy rescinding their ppp loan!
“Please tell me what the difference is in that besides a vastly larger amount of money went to many already wealthy” — The difference is that the PPP money was legislated by Congress like it was supposed to have been. Biden’s student debt forgiveness plan was not and was attempt to circumvent the Constitution. That was the basis for the SCOTUS decision.
Trumps tax cuts for the wealthy and corporations 1.9 . Student loan debt that would have been erased for millions of Americans 400 billion.. hypocrites and traitors
Clarence Thomas has got 150K for nephew tuition from billionaire.. Vote hell NO on student loan forgiveness.. hypocrites and traitors 💥
Pathetic! The supreme court can get Free donor grifter gifts that is illegal 😡.. hypocrites and traitors
That’s not how it works.
All Biden did was make a promise at election time to convince all the Dumb Brainless SHEEP voters to vote for him.
Let the loan go into default then negotiate lower amount repayment when it goes into collections. EDITED TO ADD: this action would presume that the debtor is unable to repay the loan and will go into default anyway. And yes obviously it would be bad for a credit rating. BUT if a person can’t repay their loan well……. they likely have a crap rating already so
Another huge blow to lunatic liberals that still follow Biden.
Well deserved.
No more bailouts, bigot!
I’m not paying. Dont care. They’ll try to garnish my check and realize making me homeless is the only way to do that lol.
I only owe 15,000 but the job market is stiff and I’m stuck at $14 and hour. I have no issue paying my loan. But I need the income. College didn’t give the job.
So it is what it is.