Student Loans

What Happens To Student Loans If You Withdraw – How Biden Plans to Tackle the $1.6 Trillion Student Loan Debt | WSJ

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What Happens To Student Loans If You Withdraw – How to Choose

More than 43 million Americans owe a collective $1.6 trillion in federal student loans. WSJ’s Josh Mitchell explains how President-elect Joe Biden plans to help borrowers tackle that debt. Photo illustration: Carlos Waters

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31 Comments

  1. Ticking Clock
    July 23, 2021 at 8:40 pm

    US should reach out to China for help as they can help them as they are the world leaders now.

  2. Ticking Clock
    July 23, 2021 at 8:40 pm

    USA is doomed.

    They already lost world leadership to China and soon will lose the tag of largest economy in the world.

    Today one can't see to US as world leader but just the country with so many of its own issues and there are many countries which are looking at China.

  3. jj childs
    July 23, 2021 at 8:40 pm

    How is that fair to the persons that payed of their loans?

  4. Janet LEBRON
    July 23, 2021 at 8:40 pm

    What about elderly people that owed 2,000 and have payed over $5,000 already?? I’m 70 years and I’m still paying old student loan.. am I dying and continue to pay until then???

  5. isac newton
    July 23, 2021 at 8:40 pm

    Colleges are NOT ONLY TOO EXPENSIVE, THE STUDENTS ARE NOT PREPARED TO HOLD ANY RESPONSIBLE JOB UNLESS THE BUSINESSES WASTE HUNDREADS OF THOUSANDS TO TRAIN a college graduate and after 2-3-4 years, THE GRADUATE THINK BECAME TOO VALUABLE AND QUITS, LOOKING FOR MORE MONEY!!! Who is willing to waste such amounts on UNPREPARED GRADUATES? WHY DO A COLLEGE CHARGE THE STUDENT?

  6. Kevin Firkus
    July 23, 2021 at 8:40 pm

    I love the comments on here I agree the schools should be on the hook not the tax payers…

  7. chas pipin
    July 23, 2021 at 8:40 pm

    How about the millions in this country that have major doctor and hospital debt because they can't afford health insurance, who's going to bail them out?

  8. Kevin Baldwin
    July 23, 2021 at 8:40 pm

    It's almost as if the federal government shouldn't be in student loans in the first place. It's as if giving $50,000 loans each year to art history majors and gender studies majors is dumb. The banks would never give out those loans…. but the government will 🙂

    To the students: you took out the loans, pay them back. Yes, your more intelligent peers went to much cheaper trade schools or highly lucrative fields of study but don't ask the taxpayer to pay up for your stupid decision. Especially when taxpayers comprise of people who didn't go to college. Time to be a grown up and pay it back.

  9. Manny Freeesh
    July 23, 2021 at 8:40 pm

    Step one: No plan.

  10. Jerry NS
    July 23, 2021 at 8:40 pm

    LOL turns out his plan was to not do anything. $0 in student loan forgiveness. After campaigning endlessly about offering relief.m

    If this was Trump, you liars at WSJ, and your pillow buddies over at CNN, MSNBC, WaPo, NYT, etc, etc would be writing article after article about it.

    But for slow Joe? Crickets.

  11. Michelle505
    July 23, 2021 at 8:40 pm

    SIKE

  12. zack16
    July 23, 2021 at 8:40 pm

    This didn’t age well

  13. Eli Bitch
    July 23, 2021 at 8:40 pm

    Aged like milk

  14. ZZZodiac
    July 23, 2021 at 8:40 pm

    This didn’t age well

  15. Excalibur624
    July 23, 2021 at 8:40 pm

    Biden just went back on this promise, what a fraud

  16. pep
    July 23, 2021 at 8:40 pm

    There are NO plans to cancel it. A lie and scam to buy votes.

  17. abdullahi muhammad
    July 23, 2021 at 8:40 pm

    This is so amazing, I just got lots of money from klaxonstools to payoff my loans. I'm grateful

  18. Gmail User
    July 23, 2021 at 8:40 pm

    STOP TALKING AND DO SOMETHING, FORGIVENESS. Tax payers paid the stimulus checks, so what's new. Screw income based.

  19. Gmail User
    July 23, 2021 at 8:40 pm

    I don't expect the politicians who make the laws for this country I fought for during my time in the US Army to do anything about student loan forgiveness. They are too busy writing checks to foreign countries , like Israel, Afghanistan, Iraq, Kenya, Mexico and a few hundred others who received significant economic assistance. The stimulus checks were appreciated by a lot of hard working people, however, they only provided short term relief. Wiping out student loans completely, not just a portion will provide a life-time of relief and remove stress. President Biden, and you Dem. and Rep. in Congress have an opportunity to finally help Americans, Especially Veterans who have student loans. Get it done! Stop fighting like Crips and Bloods and get off your backsides to help college grads. Loan debt yes, Jobs, NO!

  20. turtleownage
    July 23, 2021 at 8:40 pm

    If you graduated debt-free in the last 15 years and make under $150k/year, you should get a portion of any money allocated to student loan forgiveness for your hard work, sacrifices, and management skills. Change my mind.

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    July 23, 2021 at 8:40 pm

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    July 23, 2021 at 8:40 pm

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  24. Midnight Rambler
    July 23, 2021 at 8:40 pm

    Who will pay for this forgiveness?

  25. Motorcycle Michael
    July 23, 2021 at 8:40 pm

    What is he waiting on?
    He made all kinds of promises to get peoples votes.
    Glad he didn’t get mine, he’s a crook!

  26. Gmail User
    July 23, 2021 at 8:40 pm

    The real problem is no job to pay for student loans. Mergers, Acquisitions,(layoffs when they combine) moving jobs overseas, is hurting college grads. The American dream is a nightmare! No veteran should pay for college, we protected the country so others can go to college. They give a veteran a limited time to use the GI Bill. Wiping out all student debt, not just a few thousand will put this country on the right path. Congress spends more money helping foreign countries that have free college education for all their people, why is America so far behind? President Biden, Congress, and all other entities involved should stop fighting and wipe out the ball and chain holding college grads back from actually enjoying life.

  27. Basketball Fever
    July 23, 2021 at 8:40 pm

    The real problem is a lot of the degrees are scams; Democrats understand this. They just didn’t talk about actually solving the problem.

  28. Jacquetta Carr
    July 23, 2021 at 8:40 pm

    Biden Can fix the student loan debt by paying directly to institutions and forgiving student debt. Give students a fresh start similar and a clean slate similar to those who file bankruptcy. Without it, things will be worst because the new economy Biden is creating which doesn't require degrees means that all the students that went to school to get a degree can be by passed in the hiring process by individuals who never went to school. This is unfair to students who believed what the government said that education was necessary to make Americans competitive with the world and to get quality jobs. What do all the students do now that a new economy does not require 4-8 years of education? It is only the right thing to do. So forgive all student debt. because now, degrees will no longer be an advantage. Covid-19 impacted everyone including students! $10,000 is not enough. Most students spend over 50-100,000

  29. BriEntAnderson
    July 23, 2021 at 8:40 pm

    I’m so for the students loan debt forgivenes.

  30. Theresa Bell
    July 23, 2021 at 8:40 pm

    As a public servant in New York working in the New York Police Dept in the Public Service Forgiveness Program since 2007 paying in REPAYE for 16 years under under making under $50,000 and not in default. The Biden Administration need to stop making excuses and fix this mess my taxable income in $30,0000 which should go to my student loan bill. Stop stealing my money IRS and let me pay my loans. Both parties are a disgrace. The educational system needs to be reformed period.