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.

  • This makes a lot of sense when you recognize:

    1. Republican lawmakers primarily act in the best interest of the capitalist investor class that donates to them

    2. 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.

    • SokathHisEyesOpen
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      fedilink
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      51 year ago

      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.