Student loan forgiveness....

[Willence]

I really hope this doesn't happen, but I am sure based on the reports that it will. If it does this will make me so angry. We busted our asses to pay off our student loans and so should everyone else who takes them out. Americans who paid their loans off and Americans that chose not to go to college should not have to subsidize the education of other people. I really hope that the backlash to this is dramatic. It's going to cost a fortune at a time that we really can't afford to spend more money.

And any Republican who's going to get upset about this needs to realize the last fiscally conservative President we had in this country was Bill Clinton. Both sides have spent us into oblivion and it should no longer be tolerated.

 

[Paw Pad]

If this takes place , every real American should refuse to pay taxes for anything.EVERY AMERICAN. This is nothing more than vote buying and bribery. What the hell is wrong with people. This is just plain corrupt.

 

[Kelbo]

@firegiver

Those evil hard working folks!

 

[scotchtiger]

It's such an incredibly stupid policy position. Do absolutely nothing to fix the root cause of the problem, take money from the majority of people who have either paid for their college or don't have a degree, then give it to the minority that are little bitches who can't or won't pay back money they knowingly borrowed. Soooooo stupid.

 

[Jonada]

I highly doubt this ever becomes a reality.

 

[firegiver]

@firegiver

Those evil hard working folks!

i feel ya, i've been working 16 hour days the last week and over the weekend. and we all know im evil.

My wife works 10 hour days saving children from molestation and harm and places them in safe environments. Her work is very stressful, she took a loan out to get her master in social work with the predication that the loan wold be forgiven. Since then people who have participated in the same student loan forgiveness plan have been rejected 99% of the time. Theres something to be said about lumping my grievances in with a full on trillion dollar loan forgiveness across the board.

Still college costs way too much in this country and the older generation don't take into account housing costs have risen astronomically.

 

[TigerGrowls]

i feel ya, i've been working 16 hour days the last week and over the weekend. and we all know im evil.

My wife works 10 hour days saving children from molestation and harm and places them in safe environments. Her work is very stressful, she took a loan out to get her master in social work with the predication that the loan wold be forgiven. Since then people who have participated in the same student loan forgiveness plan have been rejected 99% of the time. Theres something to be said about lumping my grievances in with a full on trillion dollar loan forgiveness across the board.

Still college costs way too much in this country and the older generation don't take into account housing costs have risen astronomically.

Honestly I feel for you and others in this case. I just do not see a blanket loan forgiveness as the answer. The cost of higher education is totally out of the realm of reality as the govt is guaranteeing all the loans. These universities are overflowing with funds due to this. There should be some connection with the cost of a degree compared to what the expected real world income is.

 

[TigerGrowls]

https://www.msn.com/en-us/money/mar...debt-relief-measures-on-wednesday/ar-AA10ZJEx

 

[other1]

The gov't should be required to reimburse my wife and I because we worked our asses off to pay for our 2 kids educations if they decide to do this stupid plan.

 

[Hammerdawg.NEAR]

Woooooo welcome to modern day America baby

 

[scotchtiger]

Woooooo welcome to modern day America baby

This is the same person who didn’t understand where the government’s money came from, right? These are very stupid people.

 

[yoshi121374]

For the record, while I generally lean Democrat, I really hate this idea and it pisses me off. I paid off my $40+k thousand student loans 2 years ago.

 

[scotchtiger]

i feel ya, i've been working 16 hour days the last week and over the weekend. and we all know im evil.

My wife works 10 hour days saving children from molestation and harm and places them in safe environments. Her work is very stressful, she took a loan out to get her master in social work with the predication that the loan wold be forgiven. Since then people who have participated in the same student loan forgiveness plan have been rejected 99% of the time. Theres something to be said about lumping my grievances in with a full on trillion dollar loan forgiveness across the board.

Still college costs way too much in this country and the older generation don't take into account housing costs have risen astronomically.

@firegiver actually has a legitimate grievance. A mismanaged government program (which most are) failed his family. Unfortunately, this government program will fail a much broader group of people.

 

[gardentiger]

I'd like to thank my landscaper, my mechanic, my barber, my plumber, etc. For paying back part of my student loans. You can thank the party of the working class, jack. I'm not selfish, you are.

 

[WapPride]

the concept of "well i paid off mine so no one should get theirs paid off" is some incredibly selfish line of thinking. i paid the last of mine off 3 years ago and i'd be thrilled if others had some debt forgiveness. it'll also probably do great for the economy considering you'll have people with an extra $1-$2k/month in expendable money being able to buy **** or go on vacations that they previously couldn't afford

 

[gardentiger]

I wonder if universities will immediately raise their tuition by 10k over 4 years? Analogous to the climate bill reinstating $7500 tax deduction for evs...immediately ford raised their qualifying vehicles by $8500. I assume the extra $1000 is a third finger.

 

[DeathValleyVibe]

i feel ya, i've been working 16 hour days the last week and over the weekend. and we all know im evil.

My wife works 10 hour days saving children from molestation and harm and places them in safe environments. Her work is very stressful, she took a loan out to get her master in social work with the predication that the loan wold be forgiven. Since then people who have participated in the same student loan forgiveness plan have been rejected 99% of the time. Theres something to be said about lumping my grievances in with a full on trillion dollar loan forgiveness across the board.

Still college costs way too much in this country and the older generation don't take into account housing costs have risen astronomically.

The cost of housing rising is applied to all US residents, not just the ones that go to college.

 

[scotchtiger]

the concept of "well i paid off mine so no one should get theirs paid off" is some incredibly selfish line of thinking. i paid the last of mine off 3 years ago and i'd be thrilled if others had some debt forgiveness. it'll also probably do great for the economy considering you'll have people with an extra $1-$2k/month in expendable money being able to buy **** or go on vacations that they previously couldn't afford

I guess this could make sense if the money was free and some mystical pot of gold was funding the handout. But unfortunately, that’s not how it works. For these people to get their $10K, the rest of us will bear the burden of increased deficit, additional debt, inflationary pressure and for some of we lucky ones, perhaps tax increases.

Why not fix the root cause of the problem before throwing money at existing debt? Makes no sense at all.

 

[scotchtiger]

I wonder if universities will immediately raise their tuition by 10k over 4 years? Analogous to the climate bill reinstating $7500 tax deduction for evs...immediately ford raised their qualifying vehicles by $8500. I assume the extra $1000 is a third finger.

You mean like the federal government getting in the student loan business to begin with accelerating the cost of higher education, leading to our current student debt issue?

Nah. There are never unintended consequences with big government programs.

 

[Coachmac3]

I finished paying mine off about 1 year ago, for one i am okay with Selective Student Loan cancellation. If there is a single mother or father who is in real financial trouble i have no problem with them cancelling their student loans if they can provide proof that there situation is real. However just blanket cancelling debt i am not okay with. There is already income driven plans which can literally be as low as $15/month but i respect the people that even go that route to pay back. I understand everyone has issues and a break is a huge relief. But just freely dropping Student debt across the board i am not okay with.

 

[WapPride]

I guess this could make sense if the money was free and some mystical pot of gold was funding the handout. But unfortunately, that’s not how it works. For these people to get their $10K, the rest of us will bear the burden of increased deficit, additional debt, inflationary pressure and for some of we lucky ones, perhaps tax increases.

Why not fix the root cause of the problem before throwing money at existing debt? Makes no sense at all.

money printer go brrrrrrrr

all pissing aside, i don't know a solution beyond far more regulation, which will never pass bc the GOP will call it socialism. we offer bailouts and breaks to big corporations all the time, but we never do anything of the sort for the actual working people. give billions of dollars to the airlines in bailout money and the next thing they do is cut the workforce and issue buybacks.

i don't know the answer, and you're probably right that there will be some adverse reactions to loan forgiveness, but i think something needs to be done about the ridiculous student loan issue that's only gotten worse over the last 15 years

 

[TigerGrowls]

money printer go brrrrrrrr

all pissing aside, i don't know a solution beyond far more regulation, which will never pass bc the GOP will call it socialism. we offer bailouts and breaks to big corporations all the time, but we never do anything of the sort for the actual working people. give billions of dollars to the airlines in bailout money and the next thing they do is cut the workforce and issue buybacks.

i don't know the answer, and you're probably right that there will be some adverse reactions to loan forgiveness, but i think something needs to be done about the ridiculous student loan issue that's only gotten worse over the last 15 years

First they need to put the responsibility back on the colleges and universities for these loans. They make a bad investment in a subpar student who fails to pay it back then its their loss and not the taxpayers. They also might change the tuition to less for some of the majors where the potential earnings are less. College has turned into a racket for the universities the way it is set up now. They get paid no matter what.

 

[gardentiger]

You mean like the federal government getting in the student loan business to begin with accelerating the cost of higher education, leading to our current student debt issue?

Nah. There are never unintended consequences with big government programs.

That's what I'm getting at. I used to listen to Dave Ramsey. He made this point 10 years ago. Wherever easy credit is available the cost of the asset ALWAYS increases.

 

[gardentiger]

The other question no one is asking. Will next year's graduates demand their 10k forgiveness? Will they be called selfish?

 

[Willence]

money printer go brrrrrrrr

all pissing aside, i don't know a solution beyond far more regulation, which will never pass bc the GOP will call it socialism. we offer bailouts and breaks to big corporations all the time, but we never do anything of the sort for the actual working people. give billions of dollars to the airlines in bailout money and the next thing they do is cut the workforce and issue buybacks.

i don't know the answer, and you're probably right that there will be some adverse reactions to loan forgiveness, but i think something needs to be done about the ridiculous student loan issue that's only gotten worse over the last 15 years

You're using whataboutism to justify more bad policy that never should have been in place to begin with. We never should have bailed anyone out. If a company is run so badly that it's going to go bankrupt then let it go bankrupt. That's how we filter out the bad apples from the good ones.

The spending that goes on has got to stop. It's been out of control for a long time and it's destroying the country. People might not realize it yet but it's coming. You can't spend this way with no consequences. Too many people have been listening to these morons who believe in modern monetary theory.

The original intention of the income tax was for the government to be good stewards of our money using it to benefit the nation in small ways. This is so far out of control because the government is at the center of everything and is a facilitator and a provider now. That is not what was intended ever. We need to totally abandon this approach and move in a completely different direction.

 

[iceheart08]

Forgiving a small amount of debt (10k) for borrowers making under a certain threshold (125k) seems pretty reasonable to me.

This is a subsidy placed directly into the hands of Americans who will put this money directly back into the economy.

You all want corporate tax breaks and deregulation, you all want subsidies given to banks and large corporations but you bristle at any support for working people struggling to make ends meet.

You are being naive if you think there's going to be some kind of meaningful backlash that impacts electoral politics. This is an overwhelmingly popular decision.

 

[Willence]

Forgiving a small amount of debt (10k) for borrowers making under a certain threshold (125k) seems pretty reasonable to me.

This is a subsidy placed directly into the hands of Americans who will put this money directly back into the economy.

You all want corporate tax breaks and deregulation, you all want subsidies given to banks and large corporations but you bristle at any support for working people struggling to make ends meet.

I bristle at all of it. There should be no corporate taxes of any kind. The government should shrink by about 85%. The role of the government should completely revert back to what is intended by the Constitution and provides the most freedom and opportunity to all Americans. The government should not have the authority to decide who gets what and when in terms of subsidies and debt forgiveness. I don't want your moral compass making decisions for me. Just as I am sure you don't want my moral compass making decisions for you.

Problems we have with our college system are problems that everyone allowed to happen. We knew what we were getting into when we went to college. If the cost is too high and we continue to pay it then that's our problem. We keep choosing stupid and then expect someone else to pay for it. I'm sorry that's not how life should work and when we try to ignore that as we are with this then we're going to pay the price more in the long run.

All of this is stuff that happens when we educate our kids in a government run education system. The populace is too ignorant and stupid to understand what is happening and see the ride that we're being taken on by our leaders. And we keep voting based on party rather than realizing that's just another scam. Our entire governmental system needs to be completely revamped.

 

[iceheart08]

I bristle at all of it. There should be no corporate taxes of any kind. The government should be shrunk about 85%. The role of the government should completely revert back to what is intended by the Constitution and provides the most freedom and opportunity to all Americans. The government should not have the authority to decide who gets what and when in terms of subsidies and debt forgiveness. I don't want your moral compass making decisions for me. Just as I am sure you don't want my moral compass making decisions for you.

Problems we have with our college system our problems that everyone allowed to happen. We knew what we were getting into when we went to college. If the cost is too high and we continue to pay it then that's our problem. We keep choosing stupid and then expect someone else to pay for it. I'm sorry that's not how life should work and when we try to ignore that as we are with this then we're going to pay the price more in the long run.

All of this stuff that happens when we educate our kids in a government run education system. The populace is too ignorant and stupid to understand what is happening in the ride that we're being taken on by our leaders. And we keep voting based on party rather than realizing that's just another scam. Our entire governmental system needs to be completely revamped.

Need a 3rd party and public funding of elections. Problem solved. Need to get money and out of elections then politicians will represent their voters, not their campaign donors.

 

[WapPride]

You're using whataboutism to justify more bad policy that never should have been in place to begin with. We never should have bailed anyone out. If a company is run so badly that it's going to go bankrupt then let it go bankrupt. That's how we filter out the bad apples from the good ones.

The spending that goes on has got to stop. It's been out of control for a long time and it's destroying the country. People might not realize it yet but it's coming. You can't spend this way with no consequences. Too many people have been listening to these morons who believe in modern monetary theory.

The original intention of the income tax was for the government to be good stewards of our money using it to benefit the nation in small ways. This is so far out of control because the government is at the center of everything and is a facilitator and a provider now. That is not what was intended ever. We need to totally abandon this approach and move in a completely different direction.

there was no "whataboutism" in my statement fyi. saying the GOP will call anything the Ds do "socialism" is just an accurate statement. i do agree with your "no bailout" and spending themes though.

 

[Willence]

Need a 3rd party and public funding of elections. Problem solved. Need to get money and out of elections then politicians will represent their voters, not their campaign donors.

I do not think that will solve the problem. Everyone has these standard responses to the problems of our political parties.. It's just lip service. It isn't anything meaningful. I am FAR more aggressive about what needs to be done.

 

[97ClemsonMac]

shouldn't have paid off my $40K worth of loans last year SMH

 

[iceheart08]

I do not think that will solve the problem. Everyone has these standard responses to the problems of our political parties.. It's just lip service. It isn't anything meaningful. I am FAR more aggressive about what needs to be done.

Lololol standard lip service. I've spent my entire career in politics running campaigns at the highest level..I assure you this isn't "standard lip service".

 

[scotchtiger]

money printer go brrrrrrrr

all pissing aside, i don't know a solution beyond far more regulation, which will never pass bc the GOP will call it socialism. we offer bailouts and breaks to big corporations all the time, but we never do anything of the sort for the actual working people. give billions of dollars to the airlines in bailout money and the next thing they do is cut the workforce and issue buybacks.

i don't know the answer, and you're probably right that there will be some adverse reactions to loan forgiveness, but i think something needs to be done about the ridiculous student loan issue that's only gotten worse over the last 15 years

We should reform education and the loan program first. Before issuing handouts to people with college degrees (the real destitute among us right?). I've posted before, but some basic ideas:

• Rate loans based on likelihood of repayment (degree quality, degree value)
• Incentivize degrees that have relatively low income but high societal value (teachers, etc). Perhaps preferred or zero interest rates. Have people compete for these preferred loans based on ability.
• Enhanced focus on trades and other non-college career paths.

I would sign up for a bill that did the above in a hot minute and it actually attempts to solve a problem rather they buy votes (which is all this is btw).

 

[iceheart08]

shouldn't have paid off my $40K worth of loans last year SMH

So you and you partner make less than 125k combined?

 

[97ClemsonMac]

So you and you partner make less than 125k combined?

I'm not married and I don't make that kind of money no

 

[Willence]

Lololol standard lip service. I've spent my entire career in politics running campaigns at the highest level..I assure you this isn't "standard lip service".

That's why you're part of the problem. You've been a participant in the destruction of the Democratic Party as a force for good. You're living in that bubble that has compromised values to gain power over and over again. Maybe you're a voice of reason in that realm. I can't speak to that but anyone involved in the election system in this country should be sent packing. It's just horrible what's happened and I am saying that for both sides. The Republican Party is just as much of a grotesque monstrosity as the Democrats.

We should reform education and the loan program first. Before issuing handouts to people with college degrees (the real destitute among us right?). I've posted before, but some basic ideas:

• Rate loans based on likelihood of repayment (degree quality, degree value)
• Incentivize degrees that have relatively low income but high societal value (teachers, etc). Perhaps preferred or zero interest rates. Have people compete for these preferred loans based on ability.
• Enhanced focus on trades and other non-college career paths.

I would sign up for a bill that did the above in a hot minute and it actually attempts to solve a problem rather they buy votes (which is all this is btw).

This is all reasonable but you're going to have to deal with it at the college level. The colleges are the nexus point of this problem. The entire system needs to be destroyed and rebuilt. Maybe that's what you meant in reform education but that in and of itself is a titanic undertaking.

 

[yoshi121374]

That's what I'm getting at. I used to listen to Dave Ramsey. He made this point 10 years ago. Wherever easy credit is available the cost of the asset ALWAYS increases.

Ramsey is a financial idiot.

 

[scotchtiger]

Forgiving a small amount of debt (10k) for borrowers making under a certain threshold (125k) seems pretty reasonable to me.

This is a subsidy placed directly into the hands of Americans who will put this money directly back into the economy.

You all want corporate tax breaks and deregulation, you all want subsidies given to banks and large corporations but you bristle at any support for working people struggling to make ends meet.

You are being naive if you think there's going to be some kind of meaningful backlash that impacts electoral politics. This is an overwhelmingly popular decision.

OPM is always popular, it's why it's such a key piece of the democrat platform.

 

[Kelbo]

I finished paying mine off about 1 year ago, for one i am okay with Selective Student Loan cancellation. If there is a single mother or father who is in real financial trouble i have no problem with them cancelling their student loans if they can provide proof that there situation is real. However just blanket cancelling debt i am not okay with. There is already income driven plans which can literally be as low as $15/month but i respect the people that even go that route to pay back. I understand everyone has issues and a break is a huge relief. But just freely dropping Student debt across the board i am not okay with.

Very reasonable view.

 

[WapPride]

We should reform education and the loan program first. Before issuing handouts to people with college degrees (the real destitute among us right?). I've posted before, but some basic ideas:

• Rate loans based on likelihood of repayment (degree quality, degree value)
• Incentivize degrees that have relatively low income but high societal value (teachers, etc). Perhaps preferred or zero interest rates. Have people compete for these preferred loans based on ability.
• Enhanced focus on trades and other non-college career paths.

I would sign up for a bill that did the above in a hot minute and it actually attempts to solve a problem rather they buy votes (which is all this is btw).

yeah i like all of this