This story of loan forgiveness does not sit well with me

[Anonymous]

He knew he had to get a better paying job to repay the loan, but he didn't want to give up his passion, which was music.

Now that his almost $250K loan has been paid by us taxpayers, he says he wants to go meditate in India with a guru.

Like what the actual f*.

my nephew has a mild SN and had a hard time finding a job after college; he majored in IT. He found a lowish paying job (like $45K) at a nonprofit and is still paying it off while he lives with his single mom because he can't afford to live on his own and pay off the debt. But, the government didn't pay his debt off. I think it's like $50K. Here's someone who's trying and working a job that has potential for growth, even as he has a hard time of it, and then there's this guy with his music passion, and now he can go meditate because we taxpayers basically gave him $250K.

https://www.yahoo.com/finance/news/gen-xer-got-250-000-181801554.html

Yea, I feel bitter.

[Anonymous]

How do they determine who gets their loans canceled?

[Anonymous]

I don't like what the guy in the article did and I'm not a supporter of cancelling loans, but it seems like most of the balance was accruing interest, not principal. He had 250k in outstanding loans despite finishing his grad schooling in 1998. There was no way his education cost 250k in the first place.

[Anonymous]

Stop making moral judgments when critiquing policy decisions. For all you know the guy already paid the principal of the loan many times over.

[Anonymous]

Anonymous wrote:Stop making moral judgments when critiquing policy decisions. For all you know the guy already paid the principal of the loan many times over.

+1
And I'd much rather a few freeloaders (for any benefit) than an even more expensive vetting system and people denied or jumping through hoops.

[Anonymous]

Your nephew ought to qualify for the Public Service Loan Forgiveness as well. He just needs to work for 10 years for the nonprofit.

[Anonymous]

Anonymous wrote:He knew he had to get a better paying job to repay the loan, but he didn't want to give up his passion, which was music.

Now that his almost $250K loan has been paid by us taxpayers, he says he wants to go meditate in India with a guru.

Like what the actual f*.

my nephew has a mild SN and had a hard time finding a job after college; he majored in IT. He found a lowish paying job (like $45K) at a nonprofit and is still paying it off while he lives with his single mom because he can't afford to live on his own and pay off the debt. But, the government didn't pay his debt off. I think it's like $50K. Here's someone who's trying and working a job that has potential for growth, even as he has a hard time of it, and then there's this guy with his music passion, and now he can go meditate because we taxpayers basically gave him $250K.

https://www.yahoo.com/finance/news/gen-xer-got-250-000-181801554.html

Yea, I feel bitter.

OP, you’re kind of being scammed here. You can write this kind of story about any kind of large policy change like this. If you went through all the businesses that got tax cuts in 2017, you’d find a lot to feel bitter about at a much larger scale. You just have to decide if the policy is worth it overall.

There’s no such thing as “loan forgiveness but not for lazy guru musicians.” You definitely don’t want the government to be making those kinds of judgements.

[Anonymous]

Anonymous wrote:

Anonymous wrote:He knew he had to get a better paying job to repay the loan, but he didn't want to give up his passion, which was music.

Now that his almost $250K loan has been paid by us taxpayers, he says he wants to go meditate in India with a guru.

Like what the actual f*.

my nephew has a mild SN and had a hard time finding a job after college; he majored in IT. He found a lowish paying job (like $45K) at a nonprofit and is still paying it off while he lives with his single mom because he can't afford to live on his own and pay off the debt. But, the government didn't pay his debt off. I think it's like $50K. Here's someone who's trying and working a job that has potential for growth, even as he has a hard time of it, and then there's this guy with his music passion, and now he can go meditate because we taxpayers basically gave him $250K.

https://www.yahoo.com/finance/news/gen-xer-got-250-000-181801554.html

Yea, I feel bitter.

OP, you’re kind of being scammed here. You can write this kind of story about any kind of large policy change like this. If you went through all the businesses that got tax cuts in 2017, you’d find a lot to feel bitter about at a much larger scale. You just have to decide if the policy is worth it overall.

There’s no such thing as “loan forgiveness but not for lazy guru musicians.” You definitely don’t want the government to be making those kinds of judgements.

Or PPP loans. Massive fraud and deception in that program. But still the right choice and policy under the circumstances.

[Anonymous]

Anonymous wrote:

Anonymous wrote:He knew he had to get a better paying job to repay the loan, but he didn't want to give up his passion, which was music.

Now that his almost $250K loan has been paid by us taxpayers, he says he wants to go meditate in India with a guru.

Like what the actual f*.

my nephew has a mild SN and had a hard time finding a job after college; he majored in IT. He found a lowish paying job (like $45K) at a nonprofit and is still paying it off while he lives with his single mom because he can't afford to live on his own and pay off the debt. But, the government didn't pay his debt off. I think it's like $50K. Here's someone who's trying and working a job that has potential for growth, even as he has a hard time of it, and then there's this guy with his music passion, and now he can go meditate because we taxpayers basically gave him $250K.

https://www.yahoo.com/finance/news/gen-xer-got-250-000-181801554.html

Yea, I feel bitter.

OP, you’re kind of being scammed here. You can write this kind of story about any kind of large policy change like this. If you went through all the businesses that got tax cuts in 2017, you’d find a lot to feel bitter about at a much larger scale. You just have to decide if the policy is worth it overall.

There’s no such thing as “loan forgiveness but not for lazy guru musicians.” You definitely don’t want the government to be making those kinds of judgements.

I didn't say I supported PPP loans, either. Regardless, this guy could've and should've gotten a better paying job to lessen his debt. Instead, we paid off his loans, and now he gets to go meditate in India. And yea that annoys me that someone like him instead pursued his passions while someone like my nephew is still struggling to pay off his debt.

[Anonymous]

Anonymous wrote:Stop making moral judgments when critiquing policy decisions. For all you know the guy already paid the principal of the loan many times over.

and for all you know he didn't. What we do know is that we essentially gave him $250K to pursue his passion, and now he can go meditate in India.

[Anonymous]

Anonymous wrote:Stop making moral judgments when critiquing policy decisions. For all you know the guy already paid the principal of the loan many times over.

Read the article. He didn't.

[Anonymous]

Anonymous wrote:I don't like what the guy in the article did and I'm not a supporter of cancelling loans, but it seems like most of the balance was accruing interest, not principal. He had 250k in outstanding loans despite finishing his grad schooling in 1998. There was no way his education cost 250k in the first place.

A responsible adult would get a better paying job, which he knew he should have, per his own quote. If he had done that, then he would not have had a 250K mostly interest loan.

[Anonymous]

Did your nephew also pay his loan for 30 years before it was forgiven?

[Anonymous]

Outliers are everywhere. Look at the big picture, not the person the journalist thought would get the most clicks.

[Anonymous]

There is so much waste and government abuse that it is strange people focus on student loan forgiveness.

How about all the fake disability that 50% of the state of WV and LA and MS and AR receives?