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Really disingenuous to even use the word freeloader In a conversation about student loans. Wanting an education isn't freeloading.

California had free public colleges until Reagan closed them because of Vietnam War protests. The war on woke has been fucking over everybody for a long time.

"The borrowers involved in the plans targeted for the new forgiveness include those with Direct Loans or Federal Family Education Loans held by the department, including Parent PLUS loans. Many of the borrowers affected are likely 50 or older. About 9.2 million borrowers fall into this category."

No research done outside of reading the article, but this line makes it seem like it will be mostly older people benefitting. Although the 9.2M number seems pretty high to be people mostly 50+. If that is the case, it's hardly a win for a generation most affected by student loan debt.

Steps are great and all, and I would never argue against a step in the right direction. However, at some point, we need to raise the bar of expectation on federal officials past the smallest step of advancement reasonably possible. At this point we've heard how "we're taking steps towards true universal healthcare" for some voters entire lives and while many, tiny, steps of advancement have been made we're not too much closer to the goal being sold to us.

Long ramble short, If people are content with just a step and not a solution, even an advancing step, the government will try and wait out this issue for as long as possible. It's not unjust to demand more given their history.

You’re absolutely not alone. Not by a long shot.

Many PPP loans were forgiven without being considered taxable income, so there is precedent and there are many excellent arguments in favor of applying this for students who successfully paid income-based payments for literally decades.

Hopefully progress against this incredibly dysfunctional system will keep happening. Would be nice to give the non-wealthy Americans a better chance at home ownership, retirement savings, and other crucial financial progress. Rather than just saddling them with federal debt while taxes are slashed for the wealthy.

Part of the American Rescue Plan specifically exempts amounts forgiven through 2025 -- https://www.congress.gov/bill/117th-congress/house-bill/1319/text

Section 9675 (a):

 `(5) Special rule for discharges in 2021 through 2025.--
 Gross income does not include any amount which (but for this 
 subsection) would be includible in gross income by reason of the 
 discharge (in whole or in part) after December 31, 2020, and 
 before January 1, 2026, of--

... blah blah federal college loans only. But the jist is, no, there's no "tax bomb", that's a red herring.

Well they wouldn't so they'd end up having to setup a payment plan with the IRS but that would still be better than the debt load. I'd rather owe 20k to the IRS than 100K in fed loans. At the end of the day it's all money owed to Uncle Sam.

Personally though, I wouldn't bank on IBR, I'd much rather consolidate my loans privately at a better rate and pay them off as quick as possible rather than pay a high interest rate to the fed in hopes that they forgive it one day. I understand that's not an option for everyone though and some value the risk/reward differently.

Ive just come to terms that my student loans is just another tax

But how will we pay the poor, starving admins?!