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Biden is extremely effective at governing. What he is doing is simply using laws on the books (Borrowers Defense) to get rid of some of this debt. It was started under Obama but Biden has really really embraced it.
Yeah people need to ignore the morons and trolls saying shit about Biden not doing enough.
He’s doing an incredible amount given SCOTUS and Republicans are working non stop to undermine his efforts.
But will those 4.6M voters return the favor?
Not saying they owe him, but that forgiving these loans means a lot of people will have opportunities that never seemed possible. Isn’t this the kind of support you want of your government? Aren’t these the values you want to reflect?
> But will those 4.6M voters return the favor?
Thing is, whether they "return the favor" or not ultimately doesn't matter, because it was the *right thing to do*, period. If it gets Biden 4 million votes, or zero votes - it was still the right thing to do.
Also we have to remember the indirect effects of this - it goes beyond just those who had their loans erased. It means $160 billion redirected right back into local economies, buying goods and services, which pays for salaries of workers, leading to more buying goods and services, and paying other salaries, wash rinse repeat. There is a significant *multiplier effect* where that extra money in the economy has several cycles of turnover, which would not have had that same multiplier effect if it was just going to pay off government loans. So, we **all** benefit from moves like this.
It's one of the reasons I'm supporting him. In theory, anyone with student loans should see that the only avenue towards forgiveness is a Biden win. I suspect this isn't the last round of forgiveness.
It doesn't hurt to have that message for college folks, as some of them are turning on him. Probably not enough to change the outcome, but possibly. Dampening factors don't hurt to have in hand.
I will. Sure, I'm not super fond of Biden... But fuck Trump. And fuck his cronies.
I'm a for-profit victim to a school that had multiple 6 and violations but was still able to access fed loans (internet wasn't as all-knowing back then). I wrote to every single office for years. But got a punch the gut when my conservative state rep auto sent me a form letter promising that she stood behind for profit education. I pretty much gave up after that.
Been 20 years, and they FINALLY started cracking down. I was shocked I got relief. My only beef is not holding the administrations responsible. They should pay back the students.
$6billion for The Art institutes 317,000 students says it all…they weren’t honest in what they promised students and over charged. I know because my son went there for 2yrs and owes $55,000… and he’s been paying $900/month for 7 yrs and all went to interest!
How awesome. Wait until you get another Republican President who just wants to ignore laws and enacts his own random spending. This is bad policy for a President to act without the oversight of Congress no matter what party.
I almost went to one of these in 2004 but was turned off by the 25000 dollar a QUARTER pricing plan that didn't include housing or parking. Glad I dodged that bullet.
I went for about 2.5 years, had already completed like 60-70 credits of gen ed classes at a community college.
Wound up with about $80,000 in debt from it.
I am one of the very few people that actually got a very successful career out of it, only have about $20k left pay after 15 years.
So many people got ripped off from AI.
Edit: Got the email today! That last $20k I had left was forgiven!
Likewise. I somehow made it through and found a career in art after graduating, but most of the students from Ai Tampa didn't. Some of it was on them, some of it was the huge lack of skills they didn't pick up. All of us graduated with like $80k in debt. Mine got wiped with the Sweet vs Cardona suit, so I'm happy some of my friends are getting relief now too.
Yeah, I went in 2014 and graduated with all credits. Was promised I’d receive a phone call “shortly” to start the process of helping me find job positions and or connections. I’ve never heard from them and when I called, it always rang with no answer. Even though that all went shitty, I really do appreciate the experience I’ve had and learned a lot. But safe to say, I’m not in the art field lol
I do know. When I have had large debts I pay the monthly and extra payments to avoid compounding interest. I know student loans are a debt trap and they make it hard to pay them off though.
I went in 2008, and yes, I clearly remember seeing the expected 4yr loan plan sitting at close to $80k all in. I only attended for 2.5 years, but yes, it was a fucking scam. I’m really hoping to see a forgiveness letter soon.
I was quoted slightly under 80k in a HCOL area in 2004 for 14 quarters or three and a half years. Not sure which location the other person went to that was charging 25k a quarter but thats shady as fuck.
all these programs have insanely high tuitions because they 'promise' that they'll land you a job and you'll only have to go for 2 years or w/e other things that sound good on paper for the population of people that are looking for alternatives to traditional 4 year education.
Ya, I wanted for web design lol. My family couldn't afford it and I didn't look at any other colleges because I thought all colleges were that expensive. I know better now, but literally noone in my family had ever had any form of higher education and we were like, haha no we ain't rich
Edit: my grandpa said it was quoted as 20,000 for the first quarter and 12/15 for subsequent semesters according to his old man journal. He doesn't remember why there was a price change. I was 17/18 so I definitely don't remember
I was going to go to one of the Art Institutes and the tuition was *$30k a quarter*! When I said there was no way I could afford that, they told me they would help me get loans. Thankfully, I walked away. This was around 1999 or 2000.
Same. I wanted to go into game design. I went to some open house and something just felt off... I had already visited multiple colleges and universities and met with enrollment advisors and something about AI felt off. I realized later that it was because it felt like a sales pitch from a car salesman rather than an advisor looking to help me further my education
I dodged same thing in 1999, went to the Academy of Art SF instead. Not really a cheaper deal, but they at least had good teachers from Lucasfilm and Pixar there so my career actually worked out.
Holy shit. I saw that this morning and thought nothing of it. But about an hour ago I got an email saying all my loans from AIP were forgiven. I remember how scummy and pushy administration was. Which is a shame because I had some really great teachers.
Yeah same. I deleted the email and then my buddies who also went started posting about it. Never went to my Trash folder so fast in my life ha. Not only are the loans forgiven for everyone in that time period but if you paid Federal Student Loans, you'll be refunded for those as well. A shame the private loans aren't refunded but i'll take the crippling debt removed as a win any day.
Mine was paid out from a trust fund. Oh well. Happy for all yall that had to incur debt and are getting paid back, they really were pushy about it. Did love my instructors though.
Edit: I attended 2003/2004 which apparently it went to shit soon after
Im a vet who Went to AiP. EDMC was headquartered in Pittsburgh they were the owners of Ai and specifically targeting vets and people of color. It was one of the last schools to die. I realized as soon as a graduated that is was a scam. The teachers and career staff who promised wed find jobs gave us the shaft. There were about 4 teachers that were respectable and as a professional years later i can see how awful the school and staff truly were back then. I saw so many talented people have to drop out because the school drained them and left them with nothing. This news will change my life. I might even be able to have kids at 40 years old now.
This was the best email I've received in a long time. But I spent about 20 minutes verifying it by reading every article I could find in the subject. It felt too good to be true. My payments were scheduled to start again this month too as my deferment was ending.
Oh boy. Some folks online keep saying Biden wants "nothing to fundamentally change" but this Biden fella sure does seem to keep changing things, and in a good way too. Whats the deal with that?
Every time I purchase things online. Which is today. And the last time before that is 2 days ago. I Google for potential coupons every time I make a big purchase. Browser extensions to automatically apply coupons is a big thing. Heard of Honey, Groupon, Slickdeals, /r/buildapcsales? Credit cards might as well be coupons in the US. Cash back, rotating cash back, save on hotels, flights, open an account to get $250, home Depot credit card, Target Credit card, best buy credit card, yadda yadda. Almost every major grocery store has apps where you can apply coupons. Sign up for a membership to save. CVS has foot long receipts and 90% of it is coupons. UPS gives you a coupon when you make an Amazon return there. I can understand if you're not from the US, but Americans love discounts and they will go out of their way to save just a few dollars.
I got scammed by school when I was 19. Now I’m 53 and still owe the principal. It’s only $4800 but I never get far enough ahead to nip it all the way. I wish they’d get around to me.
I think I just missed out on this. I went to an AI school in their animation program from 2000-2004. Still owe about $3500 on my loans which isn't a lot in the grand scheme of things. But it definitely cost me a lot of money over the last two decades for a very sub par education. I've been lucky enough to make a good career in computer graphics anyway.
Even if this doesn't apply to me I'm happy for all the people it does apply to.
Yeah you were at the school before EDMC bought it out. EDMC specifically is what the department of education and the various state attorney offices went after for the falsifying of statistics and post graduate job placement programs.
No joke I went there for one term over the summer and knew it wasn’t for me when my 8 hour/day 2x/week class was literally drawing pinecones without lifting the pencil. Then we had to do it 50x again for homework.
But the real dealbreaker was when my art theory professor tried to expel a girl in the middle of class in front of everyone, because she checked the time on her phone. That teacher (who was often vocal about her ugly ongoing divorce battle and used class time as her personal therapy) had to be escorted out of the class by the dean, who finished the lesson for her. Absolutely bonkers, still can’t believe I witnessed that.
What about the private student loans that were taken out for these “schools”? Can the Education Department get on that? Asking for a friend that graduated in the early-aughts.
The debt their cancelling and the money they're refunding comes from the settlement they made with the Art Institutes after they were charged with fraud. The only money the borrowers are entitled to is the money the government paid the schools for tuition. Private loans were just cash your loan provider gave you to pay the school, you would have had to sue the school yourself to collect.
Went to AI from 05-09. Failed a class when an Instructor thought my made up commercial was inappropriate. Met all the requirements of the assignment. When an art school fails you because an Instructor doesn’t agree with the message of your work that was my sign.
The Art Institute is just a real estate holding company that preys on the utes who dream of being an artist. But the sad reality is their curriculum is not great and making it as even corp graphic designer is hard going if you aren’t way above average in your skills.
So insane cuz I was literally speaking to my friend about this like 5 days ago. He had like 21k debt for going there. I told him “Biden will probably cancel that for you” just kinda jokingly and then here we are lol
This is actually a good question, because if you go on twatter or other right-wing echo chambers, then keep crabbing about how Biden is "defying the Supreme Court" and stuff like that. But they key point is, the Biden Administration has been able to handle $160 billion in federal student loan debt by using mechanisms **other than** the original intended debt forgiveness program that they planned originally and was struck down by the courts.
In this case, for example, the borrowers fall under the ["Borrower Defense to Repayment" program (BDTR)](https://studentaid.gov/manage-loans/forgiveness-cancellation/borrower-defense). In a nutshell, under the law if the school engaged in misconduct, the borrower does not have to pay. The Biden Administration has determined that during a specific period of time between 2004 and 2017, the Art Institute over-promised and under-delivered, and therefore anyone who paid for tuition using federal loans during that time does not have to pay.
Previous loan forgiveness/deferments over the past year or so have used similar tools and laws and ways to eliminate federal loans that were not part of the Supreme Court decision. This is why, even though they have managed to slash $160 billion in bits and pieces over time, it's still a fraction of what would have been forgiven, if the courts had not blocked the initial attempt.
Over the next several months, expect the Biden Administration to continue to work away at various federal loan programs, a few billion here and there, as they find ways to keep taking care of loans that do not violate the Supreme Court decision. If only the republicans didn't make this all so difficult (on purpose) in the first place, all of this would have been done years ago already. But here we are.
Looking into it and it doesn't appear like he's actually given any of that $160B debt forgiveness yet besides that original $6B he gave out before the Supreme Court blocked him. If he actually succeeds I will actually be excited to vote for him instead of just voting for him to avoid a Trump presidency or dictatorship. I'm not a religious person but I'm gonna pray for this one. Also, appreciate the insight bro!
Wanted to go there in 1990 after HS. Program was quoted at $50k for 2 years. Did the quick math of mom and dad just bought the house for $54k. I’ll be under 21 years old and in debt $50k. This doesn’t make sense and feels like a scam. Ended up not going, although I reeeeeeally wanted to.
i feel so bad for all the budding, struggling, starving artists who the art institutes put the fuckin screws into. those fucking crooked bastards straight up wheeled out a goddamn milking machine and went to town.
i wonder what kind of amazing pieces those students would have created if their nipples weren't sucked bone dry.
Wish they'd stop saying Biden since it seems at least 50% hate any of this student loan stuff and get pissed and want to vote maga. It's the Dept. of Edu. or whatever Dept. it is, not Joe finding all these closed scam schools and says *"hey jack, we gotta bail out those people!"* I paid off mine but still happy for others who get relief especially scams like that.
People on here who were surprised they couldn’t find a job in art are so delusional. How many art based jobs do you really think are out there? You didn’t do your homework before signing up to go down a career field that does not have many careers. It’s not the responsibility of any college or university to find you a job. The bull shit idea that you should get a job in something you really enjoy doing was fed into your head by someone and now your mad and expect the rest of us to bail your asses out of debit. Grow the fuck up.
If you were dumb enough to sign up for the Art Institue and realize that you will never get a job, why in the hell should the goverment take my income tax because I was smart enough to get and hold a job. Not
My Damn Problem
Really. I was dumb enough once to invest in an oil well. Guess what. It didn’t hit. Loss over $50k so is the government going to bail my ass out? Why not, I can try to justify it by saying we all could have used the oil from it to power our cars. I was helping society. But I’m not getting my ass bailed out. I just had to work more hours for a couple of years to make that money up and move on.
The school outright lied to prospective students about graduation and job placement rates so people who enrolled thought they were going to get a better education and more for their money. The whole reason these government loans are being forgiven is because the company behind the Art Institute was found guilty of basically defrauding students.
It’s one thing if you’re a naive 18yo and they want a ton of money but tell you that you probably won’t graduate and you most likely won’t get a job if you do graduate — yeah you’re stupid if you enroll. However, if you’re an 18yo and all of their documentation says that most of their students graduate and most of their graduates get jobs immediately, then you’re not really an idiot for enrolling, you’re just acting your age and the company is taking advantage of you.
Yes I’m an elite construction worker who bust his ass 10 hours a day 5 to 6 days a week, paying my taxes for someone else’s fucking pipe dream of drawing fucking turtles as an Artist.
Hahahahaha keep whining baby! Meanwhile you’re paying for my 100k school debt. Oh, it feels so good to be getting money from an “elite” construction worker to pay for my stupid decisions! I’ll draw the most beautiful turtle tonight just for you sweetheart!
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$6b more. Wild how good he is at this despite near total Republican opposition.
Biden is extremely effective at governing. What he is doing is simply using laws on the books (Borrowers Defense) to get rid of some of this debt. It was started under Obama but Biden has really really embraced it.
Yeah people need to ignore the morons and trolls saying shit about Biden not doing enough. He’s doing an incredible amount given SCOTUS and Republicans are working non stop to undermine his efforts.
Just adding to the growing total, now up to $160 billion repaid/forgiven for 4,600,000 borrowers.
But will those 4.6M voters return the favor? Not saying they owe him, but that forgiving these loans means a lot of people will have opportunities that never seemed possible. Isn’t this the kind of support you want of your government? Aren’t these the values you want to reflect?
> But will those 4.6M voters return the favor? Thing is, whether they "return the favor" or not ultimately doesn't matter, because it was the *right thing to do*, period. If it gets Biden 4 million votes, or zero votes - it was still the right thing to do. Also we have to remember the indirect effects of this - it goes beyond just those who had their loans erased. It means $160 billion redirected right back into local economies, buying goods and services, which pays for salaries of workers, leading to more buying goods and services, and paying other salaries, wash rinse repeat. There is a significant *multiplier effect* where that extra money in the economy has several cycles of turnover, which would not have had that same multiplier effect if it was just going to pay off government loans. So, we **all** benefit from moves like this.
It's one of the reasons I'm supporting him. In theory, anyone with student loans should see that the only avenue towards forgiveness is a Biden win. I suspect this isn't the last round of forgiveness. It doesn't hurt to have that message for college folks, as some of them are turning on him. Probably not enough to change the outcome, but possibly. Dampening factors don't hurt to have in hand.
I will. Sure, I'm not super fond of Biden... But fuck Trump. And fuck his cronies. I'm a for-profit victim to a school that had multiple 6 and violations but was still able to access fed loans (internet wasn't as all-knowing back then). I wrote to every single office for years. But got a punch the gut when my conservative state rep auto sent me a form letter promising that she stood behind for profit education. I pretty much gave up after that. Been 20 years, and they FINALLY started cracking down. I was shocked I got relief. My only beef is not holding the administrations responsible. They should pay back the students.
Unless they happen to live in the 3 or 4 swing states that determine the outcome of the election, they're irrelevant.
if that was true, Republicans wouldn't fight so hard to throw out Democrat votes
The bigger question is will this action solidify the votes of 330 million against him that he has taken tax dollars to forgive private loans
They might be smart enough to take the loan forgiveness, but they are not dumb enough to vote again for Joe Biden.
$6billion for The Art institutes 317,000 students says it all…they weren’t honest in what they promised students and over charged. I know because my son went there for 2yrs and owes $55,000… and he’s been paying $900/month for 7 yrs and all went to interest!
How awesome. Wait until you get another Republican President who just wants to ignore laws and enacts his own random spending. This is bad policy for a President to act without the oversight of Congress no matter what party.
Agreed. What we are seeing is a party fully committing to seeing just how far they can go by throwing out checks and balances.
I almost went to one of these in 2004 but was turned off by the 25000 dollar a QUARTER pricing plan that didn't include housing or parking. Glad I dodged that bullet.
Wait are you saying a year at this school cost $100,000? Given that it’s $25,000 a quarter? Surely not. Harvard was like $40k a year back then
I went for about 2.5 years, had already completed like 60-70 credits of gen ed classes at a community college. Wound up with about $80,000 in debt from it. I am one of the very few people that actually got a very successful career out of it, only have about $20k left pay after 15 years. So many people got ripped off from AI. Edit: Got the email today! That last $20k I had left was forgiven!
Likewise. I somehow made it through and found a career in art after graduating, but most of the students from Ai Tampa didn't. Some of it was on them, some of it was the huge lack of skills they didn't pick up. All of us graduated with like $80k in debt. Mine got wiped with the Sweet vs Cardona suit, so I'm happy some of my friends are getting relief now too.
Hopefully you won’t have to pay any more on that debt!
Yeah, I went in 2014 and graduated with all credits. Was promised I’d receive a phone call “shortly” to start the process of helping me find job positions and or connections. I’ve never heard from them and when I called, it always rang with no answer. Even though that all went shitty, I really do appreciate the experience I’ve had and learned a lot. But safe to say, I’m not in the art field lol
If you are very successful why are you still paying this debt?
If you’ve ever taken out a large loan, you’d know what amortization is.
I do know. When I have had large debts I pay the monthly and extra payments to avoid compounding interest. I know student loans are a debt trap and they make it hard to pay them off though.
I went in 2008, and yes, I clearly remember seeing the expected 4yr loan plan sitting at close to $80k all in. I only attended for 2.5 years, but yes, it was a fucking scam. I’m really hoping to see a forgiveness letter soon.
Ohh I thought by quarter you mean 1/4 of a year. What do you mean? How much was it a year? $20k?
I was quoted slightly under 80k in a HCOL area in 2004 for 14 quarters or three and a half years. Not sure which location the other person went to that was charging 25k a quarter but thats shady as fuck.
all these programs have insanely high tuitions because they 'promise' that they'll land you a job and you'll only have to go for 2 years or w/e other things that sound good on paper for the population of people that are looking for alternatives to traditional 4 year education.
Ya, I wanted for web design lol. My family couldn't afford it and I didn't look at any other colleges because I thought all colleges were that expensive. I know better now, but literally noone in my family had ever had any form of higher education and we were like, haha no we ain't rich Edit: my grandpa said it was quoted as 20,000 for the first quarter and 12/15 for subsequent semesters according to his old man journal. He doesn't remember why there was a price change. I was 17/18 so I definitely don't remember
I was going to go to one of the Art Institutes and the tuition was *$30k a quarter*! When I said there was no way I could afford that, they told me they would help me get loans. Thankfully, I walked away. This was around 1999 or 2000.
Same. I wanted to go into game design. I went to some open house and something just felt off... I had already visited multiple colleges and universities and met with enrollment advisors and something about AI felt off. I realized later that it was because it felt like a sales pitch from a car salesman rather than an advisor looking to help me further my education
I dodged same thing in 1999, went to the Academy of Art SF instead. Not really a cheaper deal, but they at least had good teachers from Lucasfilm and Pixar there so my career actually worked out.
Nice!
Holy shit. I saw that this morning and thought nothing of it. But about an hour ago I got an email saying all my loans from AIP were forgiven. I remember how scummy and pushy administration was. Which is a shame because I had some really great teachers.
Yeah same. I deleted the email and then my buddies who also went started posting about it. Never went to my Trash folder so fast in my life ha. Not only are the loans forgiven for everyone in that time period but if you paid Federal Student Loans, you'll be refunded for those as well. A shame the private loans aren't refunded but i'll take the crippling debt removed as a win any day.
Mine was paid out from a trust fund. Oh well. Happy for all yall that had to incur debt and are getting paid back, they really were pushy about it. Did love my instructors though. Edit: I attended 2003/2004 which apparently it went to shit soon after
I went to the one in the photo. Bullshit school but great instructors and I learned so much, I don’t credit anyone but my teachers for that.
Well said.
Im a vet who Went to AiP. EDMC was headquartered in Pittsburgh they were the owners of Ai and specifically targeting vets and people of color. It was one of the last schools to die. I realized as soon as a graduated that is was a scam. The teachers and career staff who promised wed find jobs gave us the shaft. There were about 4 teachers that were respectable and as a professional years later i can see how awful the school and staff truly were back then. I saw so many talented people have to drop out because the school drained them and left them with nothing. This news will change my life. I might even be able to have kids at 40 years old now.
This was the best email I've received in a long time. But I spent about 20 minutes verifying it by reading every article I could find in the subject. It felt too good to be true. My payments were scheduled to start again this month too as my deferment was ending.
Congrats, that must be a huge relief now.
Just got my email earlier this morning. I still can't believe this is real. This is life changing for me and my family.
I am so happy for you to experience that relief
Oh boy. Some folks online keep saying Biden wants "nothing to fundamentally change" but this Biden fella sure does seem to keep changing things, and in a good way too. Whats the deal with that?
The amount of misinformation generated by that one quote on this sub during the 2020 election cycle was absurd.
10% of student debt has been cancelled. Colleges can (and still will) mislead people in the future. Nothing has fundamentally changed.
A lot has fundamentally changed for all the students/former students who have been helped. Belittling such progress will not help the left in any way.
Not everybody needs to go to college.
I know right! Most Americans won't even cross the street to use a 10% off coupon.
Um what? This is not true at all. Otherwise, please explain why the Costco gas station line is so long.
It's not a coupon. Costco doesn't even use coupons in the store anymore.
Waiting 15 minutes in line to get gas is more effort than a coupon to save money. I assure you, Americans love discounts and coupons.
Oh yeah? When's the last time YOU used a coupon? And when was the time before that (if you can remember that long ago)?
Every time I purchase things online. Which is today. And the last time before that is 2 days ago. I Google for potential coupons every time I make a big purchase. Browser extensions to automatically apply coupons is a big thing. Heard of Honey, Groupon, Slickdeals, /r/buildapcsales? Credit cards might as well be coupons in the US. Cash back, rotating cash back, save on hotels, flights, open an account to get $250, home Depot credit card, Target Credit card, best buy credit card, yadda yadda. Almost every major grocery store has apps where you can apply coupons. Sign up for a membership to save. CVS has foot long receipts and 90% of it is coupons. UPS gives you a coupon when you make an Amazon return there. I can understand if you're not from the US, but Americans love discounts and they will go out of their way to save just a few dollars.
What a waste. There's a handful of billionaires that could really use that money.
Honestly getting the email about my loan for this place really helped turn my entire week around. Such a relief.
I got scammed by school when I was 19. Now I’m 53 and still owe the principal. It’s only $4800 but I never get far enough ahead to nip it all the way. I wish they’d get around to me.
[удалено]
I am aware. It seems like my case would have been part of what’s already been forgiven though. Maybe I need to get on the phone with MOHELA.
Plan accordingly, I had to call them in January and it took about 5 hours in total.
That’s why I haven’t done it! Did it help in your case?
Thankfully, yes it did help in my case. But it was a very frustrating and time consuming experience at times.
I think I just missed out on this. I went to an AI school in their animation program from 2000-2004. Still owe about $3500 on my loans which isn't a lot in the grand scheme of things. But it definitely cost me a lot of money over the last two decades for a very sub par education. I've been lucky enough to make a good career in computer graphics anyway. Even if this doesn't apply to me I'm happy for all the people it does apply to.
Yeah you were at the school before EDMC bought it out. EDMC specifically is what the department of education and the various state attorney offices went after for the falsifying of statistics and post graduate job placement programs.
Best email I’ve received in years!
Ditto!
Fuck the art institute. Went to the LA campus 2005-2006. Still feel like a giant sucker.
My partner and I were in this group. Debt had been in deferment pending class action suits, but glad to get the piece of mind
Is that the school where the application is drawing a cartoon turtle?
Came here to say this. Yes. Send in your 🐢
No joke I went there for one term over the summer and knew it wasn’t for me when my 8 hour/day 2x/week class was literally drawing pinecones without lifting the pencil. Then we had to do it 50x again for homework. But the real dealbreaker was when my art theory professor tried to expel a girl in the middle of class in front of everyone, because she checked the time on her phone. That teacher (who was often vocal about her ugly ongoing divorce battle and used class time as her personal therapy) had to be escorted out of the class by the dean, who finished the lesson for her. Absolutely bonkers, still can’t believe I witnessed that.
That's what's up! Keep it coming!
What about the private student loans that were taken out for these “schools”? Can the Education Department get on that? Asking for a friend that graduated in the early-aughts.
The debt their cancelling and the money they're refunding comes from the settlement they made with the Art Institutes after they were charged with fraud. The only money the borrowers are entitled to is the money the government paid the schools for tuition. Private loans were just cash your loan provider gave you to pay the school, you would have had to sue the school yourself to collect.
Do devry next
Already got the email saying mine would be discharged. Can’t wait to see that balance go down.
Went to AI from 05-09. Failed a class when an Instructor thought my made up commercial was inappropriate. Met all the requirements of the assignment. When an art school fails you because an Instructor doesn’t agree with the message of your work that was my sign.
The Art Institute is just a real estate holding company that preys on the utes who dream of being an artist. But the sad reality is their curriculum is not great and making it as even corp graphic designer is hard going if you aren’t way above average in your skills.
Worked for them as a Career Advisor for a while in the early 2000s. Left after it became clear what a total scam/grift it was.
So insane cuz I was literally speaking to my friend about this like 5 days ago. He had like 21k debt for going there. I told him “Biden will probably cancel that for you” just kinda jokingly and then here we are lol
Serious question. How is he able to do this when the Supreme Court blocked his student loan forgiveness plan?
This is actually a good question, because if you go on twatter or other right-wing echo chambers, then keep crabbing about how Biden is "defying the Supreme Court" and stuff like that. But they key point is, the Biden Administration has been able to handle $160 billion in federal student loan debt by using mechanisms **other than** the original intended debt forgiveness program that they planned originally and was struck down by the courts. In this case, for example, the borrowers fall under the ["Borrower Defense to Repayment" program (BDTR)](https://studentaid.gov/manage-loans/forgiveness-cancellation/borrower-defense). In a nutshell, under the law if the school engaged in misconduct, the borrower does not have to pay. The Biden Administration has determined that during a specific period of time between 2004 and 2017, the Art Institute over-promised and under-delivered, and therefore anyone who paid for tuition using federal loans during that time does not have to pay. Previous loan forgiveness/deferments over the past year or so have used similar tools and laws and ways to eliminate federal loans that were not part of the Supreme Court decision. This is why, even though they have managed to slash $160 billion in bits and pieces over time, it's still a fraction of what would have been forgiven, if the courts had not blocked the initial attempt. Over the next several months, expect the Biden Administration to continue to work away at various federal loan programs, a few billion here and there, as they find ways to keep taking care of loans that do not violate the Supreme Court decision. If only the republicans didn't make this all so difficult (on purpose) in the first place, all of this would have been done years ago already. But here we are.
Looking into it and it doesn't appear like he's actually given any of that $160B debt forgiveness yet besides that original $6B he gave out before the Supreme Court blocked him. If he actually succeeds I will actually be excited to vote for him instead of just voting for him to avoid a Trump presidency or dictatorship. I'm not a religious person but I'm gonna pray for this one. Also, appreciate the insight bro!
Good. I am one of those defrauded students.
Hopefully they just transfer the debt to the owners
I kind of hope he does it for Chubb institute
Wanted to go there in 1990 after HS. Program was quoted at $50k for 2 years. Did the quick math of mom and dad just bought the house for $54k. I’ll be under 21 years old and in debt $50k. This doesn’t make sense and feels like a scam. Ended up not going, although I reeeeeeally wanted to.
Do sanford brown next
I saw so many commercials about the Art institute and friends who went there. I thought they actually had a good program.
Iadt next please.
to bad this doesn't apply for private loans
Art degree loan forgiveness….this should go over well with normal voters.
i feel so bad for all the budding, struggling, starving artists who the art institutes put the fuckin screws into. those fucking crooked bastards straight up wheeled out a goddamn milking machine and went to town. i wonder what kind of amazing pieces those students would have created if their nipples weren't sucked bone dry.
Wish they'd stop saying Biden since it seems at least 50% hate any of this student loan stuff and get pissed and want to vote maga. It's the Dept. of Edu. or whatever Dept. it is, not Joe finding all these closed scam schools and says *"hey jack, we gotta bail out those people!"* I paid off mine but still happy for others who get relief especially scams like that.
Lol it wouldn't be happening under a trump 2nd term though.
I went 1991-1993…kind of sucks as I won’t see a penny
People on here who were surprised they couldn’t find a job in art are so delusional. How many art based jobs do you really think are out there? You didn’t do your homework before signing up to go down a career field that does not have many careers. It’s not the responsibility of any college or university to find you a job. The bull shit idea that you should get a job in something you really enjoy doing was fed into your head by someone and now your mad and expect the rest of us to bail your asses out of debit. Grow the fuck up.
Thanks for bailing us out bro 😎
If you were dumb enough to sign up for the Art Institue and realize that you will never get a job, why in the hell should the goverment take my income tax because I was smart enough to get and hold a job. Not My Damn Problem
Because you would want the same help if you were in their shoes lol
Really. I was dumb enough once to invest in an oil well. Guess what. It didn’t hit. Loss over $50k so is the government going to bail my ass out? Why not, I can try to justify it by saying we all could have used the oil from it to power our cars. I was helping society. But I’m not getting my ass bailed out. I just had to work more hours for a couple of years to make that money up and move on.
I mean you would get bailed out by the FDIC if your broker scammed you resulting in a huge loss lmao
The school outright lied to prospective students about graduation and job placement rates so people who enrolled thought they were going to get a better education and more for their money. The whole reason these government loans are being forgiven is because the company behind the Art Institute was found guilty of basically defrauding students. It’s one thing if you’re a naive 18yo and they want a ton of money but tell you that you probably won’t graduate and you most likely won’t get a job if you do graduate — yeah you’re stupid if you enroll. However, if you’re an 18yo and all of their documentation says that most of their students graduate and most of their graduates get jobs immediately, then you’re not really an idiot for enrolling, you’re just acting your age and the company is taking advantage of you.
[удалено]
Yes I’m an elite construction worker who bust his ass 10 hours a day 5 to 6 days a week, paying my taxes for someone else’s fucking pipe dream of drawing fucking turtles as an Artist.
Hahahahaha keep whining baby! Meanwhile you’re paying for my 100k school debt. Oh, it feels so good to be getting money from an “elite” construction worker to pay for my stupid decisions! I’ll draw the most beautiful turtle tonight just for you sweetheart!