What is going on with student loans?

[Anonymous]

Anonymous wrote:Even the Washington Post was incredibly critical of the President’s cancellation of this debt.

Editorial side != “The Washington Post”

[Anonymous]

lol

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why stop with Student loans, there are a lot of struggling homeowners who need mortgage loan forgiven. Can we get some relief please?

They can sell their house. You can't sell a degree.

Big whoop dee doo. You can't sell your credit card debt you racked up for all of your happy hour drinks and restaurant food either. Should we forgive credit card debt now too? It has worst interest than student loan debt.

[Anonymous]

So much for Biden's Inflation Reduction Act. This costs the USG nearly all of the extra tax revenue the act was supposed to bring in. That means the rest of the act is now purely inflationary spending. What else is new? Democrats tax and spend. Even during high inflation, spend, spend, spend.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why stop with Student loans, there are a lot of struggling homeowners who need mortgage loan forgiven. Can we get some relief please?

They can sell their house. You can't sell a degree.

Big whoop dee doo. You can't sell your credit card debt you racked up for all of your happy hour drinks and restaurant food either. Should we forgive credit card debt now too? It has worst interest than student loan debt.

You mean like through bankruptcy? You can do that for credit card debt, but not student loans.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why stop with Student loans, there are a lot of struggling homeowners who need mortgage loan forgiven. Can we get some relief please?

They can sell their house. You can't sell a degree.

Big whoop dee doo. You can't sell your credit card debt you racked up for all of your happy hour drinks and restaurant food either. Should we forgive credit card debt now too? It has worst interest than student loan debt.

You mean like through bankruptcy? You can do that for credit card debt, but not student loans.

I've noticed a lot of Boomers are low key trying to turn this into forgiveness for their high balance credit cards and mortgages.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why stop with Student loans, there are a lot of struggling homeowners who need mortgage loan forgiven. Can we get some relief please?

They can sell their house. You can't sell a degree.

Big whoop dee doo. You can't sell your credit card debt you racked up for all of your happy hour drinks and restaurant food either. Should we forgive credit card debt now too? It has worst interest than student loan debt.

You mean like through bankruptcy? You can do that for credit card debt, but not student loans.

You're preaching to the choir..virtually no one has an issue if student loans were dischargable in bankruptcy. The borrower still gets punished for making stupid choices and the lenders get spanked too for making bad loans.

Make student loans dischargeable in bankruptcy all you want. That's a good idea.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why stop with Student loans, there are a lot of struggling homeowners who need mortgage loan forgiven. Can we get some relief please?

They can sell their house. You can't sell a degree.

Big whoop dee doo. You can't sell your credit card debt you racked up for all of your happy hour drinks and restaurant food either. Should we forgive credit card debt now too? It has worst interest than student loan debt.

You mean like through bankruptcy? You can do that for credit card debt, but not student loans.

What kind of stupid logic is this? Bankruptcy is now the same as 'selling a home', as was your previous argument?

Bankruptcy exacts a toll, and severely punishes borrowers who file for it. Sure, make student loan debt dischargeable through bankruptcy. Don't be surprised to find out that it severely restricts filers' abilities to own a home, borrow money to buy a car, etc. At least it punishes student loan borrowers for their stupid choices, unlike forgiveness. You can't straight up 'sell' credit card debt for consumables you racked up debt for, which is not different than a student loan you're crying about not being able to 'sell'. So now we should forgive credit card debt too?

Bankruptcy OTOH, sure, allow student loan borrowers to go bankrupt so they're punished. They can ruin their credit scores all they want for years. Agree. Allow them to file.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why stop with Student loans, there are a lot of struggling homeowners who need mortgage loan forgiven. Can we get some relief please?

They can sell their house. You can't sell a degree.

What? Sure they can. It called a JOB.

That's not selling it. You still retain ownership of the degree. And when you're employed, you can't sell your JOB, either.

Correct
Trust the lunatics on dcum to do what they can to change the subject
Some people are just simple

You are not selling your job of course. You're selling your skills that you got from the degree that got you the job. Call us lunatics and simple all you want. It is not going to change the fact that this is just political theater.

Look, I have no problem with student loan forgiveness. I do have a problem with student loan forgiveness without a policy in place to stop this from happening again. What about the students who have to take loans after June 2022? Higher Ed is not getting any cheaper. So we have to forgive loans every few years? There is not even a proposal to bring college costs down. It just sets a bad precedence and sends the message that paying back student loans is optional.

[Anonymous]

You should look into why student loans are not dischargable in bankruptcy. It’s because a bunch of Boomer law and med school grads would declare bankruptcy right after graduating in order to get out of their loans, before they had accumulated any assets.

I’m also not sure how bankruptcy would work, given that the Department of Education makes the vast majority of student loans. The government has the power to garnish wages and tax refunds to enforce payment on judgments.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why stop with Student loans, there are a lot of struggling homeowners who need mortgage loan forgiven. Can we get some relief please?

They can sell their house. You can't sell a degree.

What? Sure they can. It called a JOB.

That's not selling it. You still retain ownership of the degree. And when you're employed, you can't sell your JOB, either.

Correct
Trust the lunatics on dcum to do what they can to change the subject
Some people are just simple

You are not selling your job of course. You're selling your skills that you got from the degree that got you the job. Call us lunatics and simple all you want. It is not going to change the fact that this is just political theater.

Look, I have no problem with student loan forgiveness. I do have a problem with student loan forgiveness without a policy in place to stop this from happening again. What about the students who have to take loans after June 2022? Higher Ed is not getting any cheaper. So we have to forgive loans every few years? There is not even a proposal to bring college costs down. It just sets a bad precedence and sends the message that paying back student loans is optional.

The issues you cite go back to one culprit: our dysfunctional Congress. They are the ones who set the student loan interest rates, can address affordability, put more restrictions on the colleges themselves to align incentives, tax the endowments, etc.

You need 60 votes in the Senate to get anything done. It ain’t happening. Biden is operating inside the box to which he has been placed by Congress.

[Anonymous]

And, this is why Biden is taking unilateral, unconstitutional action instead of going through Congress. He knows members of his own party do not agree with this move.

More Democrats piling onto Biden over $300 billion student loan handouts: 'Not how I would have done it'

In an exclusive statement to Fox News Digital, Rep. Kim Schrier, D-Wash., disagreed with Biden's approach of outright canceling debt for some borrowers, and argued any sort of debt relief should have been more targeted.

"I agree that something needs to be done to make college a more affordable option for students and make sure they aren’t burdened by debt for decades. However, this is not how I would have done it," she said.

"I would have liked to see a more targeted approach and a way to pay for this plan. We can use debt forgiveness strategically to channel students into careers where we need help desperately, like mental health professionals, educators and nurses," Schrier added.

Schrier's opposition to Biden's plan joined a long list of Democrats critical of what some have characterized as a left-wing dream.

That list includes other vulnerable House Democrats like Rep. Tom Malinowski, D-N.J., who said in a Wednesday tweet that he's "never supported canceling student debt with taxpayer funds," and Rep. Chris Pappas, D-N.H., who described Biden's action as "no way to make policy."

Rep. Jared Golden, D-Maine, and Rep. Sharice Davids, D-Kan., who are also engaged in close races to retain their seats in Congress, spoke out against the plan as well.

They were joined by a number of Democrats running in tight congressional races across the country, including Sen. Catherine Cortez Masto, D-Nev.; Sen. Michael Bennet, D-Colo.; and Rep. Tim Ryan, D-Ohio.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why stop with Student loans, there are a lot of struggling homeowners who need mortgage loan forgiven. Can we get some relief please?

They can sell their house. You can't sell a degree.

What? Sure they can. It called a JOB.

That's not selling it. You still retain ownership of the degree. And when you're employed, you can't sell your JOB, either.

Correct
Trust the lunatics on dcum to do what they can to change the subject
Some people are just simple

You are not selling your job of course. You're selling your skills that you got from the degree that got you the job. Call us lunatics and simple all you want. It is not going to change the fact that this is just political theater.

Look, I have no problem with student loan forgiveness. I do have a problem with student loan forgiveness without a policy in place to stop this from happening again. What about the students who have to take loans after June 2022? Higher Ed is not getting any cheaper. So we have to forgive loans every few years? There is not even a proposal to bring college costs down. It just sets a bad precedence and sends the message that paying back student loans is optional.

The issues you cite go back to one culprit: our dysfunctional Congress. They are the ones who set the student loan interest rates, can address affordability, put more restrictions on the colleges themselves to align incentives, tax the endowments, etc.

You need 60 votes in the Senate to get anything done. It ain’t happening. Biden is operating inside the box to which he has been placed by Congress.

Not true when it comes to budget actions. And, he knows that it would never pass Congress - even with a simple majority - because members in his own party are against this.
Biden is acting unconstitutionally. This will not hold up in court.

[Anonymous]

This was a dumb move by the Brandon administration. The American people are pissed.

[Anonymous]

Boy, who knew Americans were such miserable, petty, not to mention ignorant a--holes? Oh wait, we just got out of COVID. So we all did. The "misery loves company" crowd on here just cements that.

Newsflash:
-cost of education when you paid your loans off (and I paid mine) were a fraction of what they are today.
-I doubt all of you so-called hard workers demonstrate your high level of integrity on a day-to-day basis. Plus, you benefit from subsidies every single day. And don't tell me if you wouldn't have benefitted from this program, you would not have jumped at the chance. You know you would.