pain diggies confirm
Biden’s $1.75 Trillion Student-Debt Problem by the Numbers
President Joe Biden is considering forgiving at least $10,000 in student loans per borrower, a promise he made on the campaign trail, through executive action.
Here are key data points:
*$1.75 trillion the total amount of outstanding student-loan debt in U.S., according to the Federal Reserve. About 92% of that debt more than $1.6 trillion – is in the hands of the federal government. Put another way, student-loan debt equals about 6.5% of U.S. gross domestic product.
*43.4 million – the number of borrowers with federal student-loan debt, according to the Education Data Initiative.
*$37,113 – the average balance for borrowers of federal student loans. Including private debt, the number jumps to $40,904.
*Four – the number of months Biden has to make a decision. The moratorium on student-loan payments is set to expire on Aug. 31, and the president has said he intends to either extend the moratorium or do some sort of debt cancellation before that date. The deadline leaves just over two months until November’s midterm elections that will decide which party controls Congress.
*41% – Biden’s approval rating among Americans aged 18 to 29, according to the Harvard Institute of Politics youth poll released Monday. His approval rating is down 18 percentage points from a year ago, according to the poll. The top reason cited for dismay was his “ineffectiveness.” Young Americans are likely to be a decisive voting bloc in the midterms. Harvard’s poll found that with more than six months until the election, youth turnout is expected to match the historically high turnout seen in the last midterm cycle: 36% said they will “definitely” vote; 37% said so at this point in 2018.
*34% – adults aged 18 to 29 who have student-loan debt, according to the Education Data Initiative.
*85% – young Americans, regardless of party, who favor some sort of government action on student debt, according to the Harvard poll; 38% favor total debt cancellation. Only 13% believe the government should not take any action on it. Among young Americans who are not currently enrolled in college and without a degree, support for government action is 79%.
*$22,690 to $39,150 – the average cost of attendance for full-time in-state and out-of-state undergraduate students at public four-year institutions, according to the College Board. The average cost of private non-profit four-year universities is $51,690.
*$52,000 – the average student debt owed by Black bachelor’s-degree holders. By race, Black college graduates owe considerably more than others on average. Four years after graduation, almost half owe an average of 12.5% more than they borrowed, according to the Education Data Initiative.
Proponents of a broad cancellation include prominent Democrats, President Barack Obama’s former education secretary and a former official in the Trump administration’s education department. Biden has said he is not considering forgiving $50,000 worth of debt for every borrower. A recent analysis by the Federal Reserve Bank of St. Louis found that rates of missed payments on student loans are at risk of climbing when the forbearance ends. “Serious delinquency rates for student debt could snap back from historic lows to their previous highs in which 10% or more of the debt was past due,” Lowell Ricketts, a data scientist for the Institute for Economic Equity at the St. Louis Fed, said in the post. Interest rates for federal student loans vary depending on the loan type and generally are set in May for loans disbursed from July to same month of the following year, according to the Department of Education’s Federal Student Aid office. Students currently pay 3.73% for the most limited subsidized loans, to 5.28% for unsubsidized loans. Unlike other forms of debt, such as credit cards and mortgages, the loans are daily interest loans, which means that interest accumulates daily. Parents of students and graduate students pay 6.28%. This raises the outstanding amount due on the loan and interest is then charged on that higher principal balance, increasing the overall cost of the loan. Most federal student loans also have an origination fee that is a percentage of the total loan amount. This fee is deducted from each loan that is disbursed. This means the money received will be less than the amount the student actually borrowed and is charged interest on. The interest rates on federal student loans is set by federal law by using the May 10-year Treasury note auction and adding 2.05 percentage points to 4.6 percentage points based on the loan type. And wut has been on a tear since March 1st??
https://www.bnnbloomberg.ca/biden-s-1-75-trillion-student-debt-problem-by-the-numbers-1.1759339
https://www.marketwatch.com/investing/bond/tmubmusd10y
Pakistan AF PAK2 G4 on approach for Abu Dhabi from Jeddah, SA depart after visiting MbS
Paki PM Shehbaz Sharif on this AC
Saudi crown prince receives Pakistan’s new PM
Saudi Arabia’s Crown Prince Mohammed bin Salman has met Pakistan’s new Prime Minister Shehbaz Sharif at the Al Salam palace in Jeddah, the official Saudi Press Agency (SPA) said on Saturday. The two leaders discussed the “prospects of bilateral cooperation and promising opportunities as well as the ways of developing them in various fields,” SPA reported.
They also discussed regional and international issues: Today I am embarking on a visit to Saudi Arabia to renew & reaffirm our bonds of brotherhood & friendship. I will have wide-ranging discussions with Saudi leadership. KSA is one of our greatest friends & as Custodian of the Two Holy Places, has a special place in all our hearts. — Shehbaz Sharif (@CMShehbaz) April 28, 2022
Earlier, Sharif arrived in Jeddah on Friday on the second day of his visit to Saudi Arabia. Governor of Makkah Khalid Bin Faisal Al Saud and Saudia Arabia’s Adviser National Security Dr Musaed Al Aiban received the prime minister. The prime minister was accompanied by key cabinet members, including Bilawal Bhutto Zardari, Miftah Ismail, Nawabzada Shahzain Bugti, Marriyum Aurangzeb, Khawaja Muhammad Asif, Chaudhry Salik Hussain, Dr Khalid Maqbool Siddiqui, Mohsin Dawar and Maulana Tahir Ashrafi, APP reported.
During his meetings with Saudi crown prince and other officials, he will discuss among other things advancing economic, trade and investment ties and creation of greater opportunities for the Pakistani workforce in Saudi Arabia, Pakistan’s news agency had said.
https://gulfnews.com/world/asia/pakistan/saudi-crown-prince-receives-pakistans-new-pm-1.87543563
>>16182688 lb
HOMER61 USAF RC-135 Rivet Joint heading north over central Romania from Souda Bay NAS
63-8045 USAF KC-135 Stratotanker over Iraq-usually always one visible
Have not the seen the BACN (Battlefield Airborne Communications Node) ACs lately though-those are GLEX ACs and are usually using the BLKWFXX callsign
interdasting callsign here…had DINAR1 C-17 last week from McGuire to Allentown, PA
ASSET01 USAF C-17 Globemaster departed Dover AFB and a fly over at Rochester Int'l Airport @3725 ft
>The fact that Elon has flipped
you go ahead and keep thinking he the savior
Watch after the deal gets done and they margin call his TSLA shares used as collateral for the loans
>>16178680 pb
and this will not affect it until after the deal gets done
It is $33.76 away from it now
kek
fairly decent movie
read the link provided
Explains the financial ramifications of the equity he posted as collateral for loan to "save free speech" as you put it.
>Fear-monger me into understanding
Nice try
You can do maffs right?
Do the maffs niqqa
That is the reality of it.
That deals with the financial arrangements of that deal-which is not done yet.
If he can't post the cash or equity to make up the difference then he is in default.
If they declare default then no 'mo Twatter ownership by Musk and it stays the same and owned by the current owners.
After that pick 'em
ty
remains to be seen
that stock moves around way moar than 7% on many days so it only comes into play after the deal is done.
If they want him to have it they won't declare default-that is the key point
Wall St has this problem of not allowing consequences even though terms have been breached.
See Evergrande which, at this point those off-shore bonds are worthless but yet the ratings agencies are still schtum.
It can drop below that level and as long as they don't declare default he keeps it.
Even though the level has been breached-picking winners and losers by decree and ignoring details.
>because the dollar's about to go completely to shit.
in a public way but it ded in the late 90's
Derivatives only give the illusion that it is not ded-but it ded.
Because it's the world's reserve currency
>Wall St has this problem of not allowing consequences even though terms have been breached.
Well in theory yes and I wish you social media users luck
I don't partake but understand it quite a bit
>worked in tech Co's in the BA in the late 80's early 90's so saw some of this coming then.
I want nuffin to do with it as it is now-that may change later
>Half the world economy is walking away from the dollar.
that is why I said in a public way
VP started tossing all his US Debt starting in 2012 and in a big way in 2018 by the start of 2019 is was all gone ftmp
You need a 'dance partner' for that when it is done in that size.
Enter in 45 and VP as the providers of the music for the dance
o7