Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt

[Anonymous]

Interest free loans. Done

[Anonymous]

I have no problems with increasing tax credits for loan payments. I have no problem with interest free loans. I have no problem with increasing funding for programs involving volunteer work serving your country in exchange for debt relief. Flatout giving away free money doesn't teach anyone anything of value. Not only does that include student borrowers, but universities learn no lessons for controlling costs because the govt will just step in and take on borrower debts. No one held a gun to anyone's head and made them take out a loan. Payback what you owe. I paid back huge amounts of money I owed because I signed a contract. So can everyone else. What's next, paying off peoples' FHA mortgages for free?

[Anonymous]

The students have choice.

Community college for two years and state college for two years.

This is the affordable option.

We hire state college grads over the Ivy grads at my workplace.

The last Princeton grad I knew was working as a tutor at a test prep center.

[Anonymous]

Anonymous wrote:The problem with these ideas is it is just a band aid. What needs to change is how much colleges are over charging students. Yet no one spends anytime lobbying for that.

And PP, I agree. Those that have paid off their loans should get equal treatment, but that is just not how we seem to be running things right now.

The people lobbying Schumer and Warren are the proprietary schools who scam people into taking on this debt. They want the debt forgiven so that the borrowers can borrow again for a fabulous career in essential oils.

[Anonymous]

Anonymous wrote:The students have choice.

Community college for two years and state college for two years.

This is the affordable option.

We hire state college grads over the Ivy grads at my workplace.

The last Princeton grad I knew was working as a tutor at a test prep center.

Most of this debt — federal issued undergraduate debt — is held by poor & low middle class kids who went to community colleges and local 4-year university.

[Anonymous]

Why exactly do bootstrap republicans care if a POTUS makes fake Fed created debt disappear? The Fed just gave out trillions in fake created money to bankers and big business, what’s another $700 billion to Main Street? More specifically why does Main Street getting a “forgivable PPP loan” trigger such deep hatred?

Nothing will make the economy boom more than this move.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:Ball is in Trump's court? Is this wedded to something Trump won't like or pure up to $50K Federal student loan forgiveness?

This is really smart on Chuck and Liz. They are giving Trump the credit.

They will let Trump give “a huge gift” to young people in an effort to buy their vote. It puts Congressional GOP in a tough spot, since they too want those young voters.

Well played, Senate Dems.

You believe Chuck and Liz are being genuine? I don't. This is far more aggressive than what's in Biden's presidential promises.

If Biden disavows it, Trump is even more likely to support this “gift.”

Why? Because Trump is a spiteful contrarian - “Jeez, look at Joe. He won’t give it to you, but I will. See, I’m a giver. I give your people the best gifts. Let’s forgive up to $50K and get that economy restarted.”

Now we know why we didn’t want Warren as President. Every week she and the Dems would come up with whacky ideas that would never work.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:Is this going to retroactively also include the good folks who paid off their loans on their own?

Why would you expect that? You no longer have student loans.

It's a troll. Just ignore. They spam the same talking point in every thread.

DP and definitely not a troll but why not? What if (assuming everything equal) person A dutifully paid off student loans and pushed extra cash (like bonuses) to paying them down sooner, lived modestly, etc. and person B paid bare minimum, defaulted, refinanced or whatever and took lavish trips or bought new cars or put a down payment on a house with cash? Why does person B essentially get to win?

It’s the Democratic way.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Since Republicans are all about pulling yourself up by the bootstraps I assume they will decline any such aid on principle.

Does not require GOP party support — Democrats are asking Trump to sign an executive order. Trump seems to understand the value of $1,200 checks with his name on them, isn’t this the same idea?

Yes but those BLM protesters will lose their s*it when they receive a letter from Trump forgiving their student loan debt. Then they can avoid getting a job even more and continue to protest. After the ACLU pays their legal expenses, they are debt free.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:If you paid your loans you don't need loan relief. I don't have children, so I dont get a tax deduction or childcare benefits. Should I be stomping around about how it's not fair, and that someone should pay me something for these benefits I don't need?

A lot of minorities actually don't pursue 4 year schools because they are afraid of the debt and they know their families can't help them. They opt for the cheapest options available instead. While mostly white and asian middle class kids attend the 4 year schools and take on debt but feel more confident in their safety nets. While this proposal sounds very positive, it may actually be regressive and borderline racist. I would want to dig carefully into the matriculation and debt data on this one.

The actual data doesn't support your claims (https://www.urban.org/sites/default/files/publication/82896/2000876-Racial-and-Ethnic-Differences-in-Family-Student-Loan-Debt.pdf) A higher percentage of Blacks borrow for college than whites and they have higher average debt amounts.

And much lower graduation rates.

[Anonymous]

Anonymous wrote:I paid off my student loan. I am thrilled that I did. I am also happy that others are getting their loans forgiven. Student loan debt drags down the economy. Younger borrowers entered a horrible job market. I don’t understand why other posters get so worked up about debt forgiveness. Other should suffer because you did? It’s like you believe we should not have new drugs available for diseases because others who died didn’t have access to them.

I worked hard to pay my way through a state school and took on debt to get a degree that led to a well paying job. I was smug then about my superiority and I am smug now about my superiority. Let the sad sacks if the world have more relief. That is what the superior can bestow on the inferior.

[Anonymous]

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Anonymous wrote:I am a Dem and am a adamantly opposed to student loan forgiveness. Pay your debts.

OK, “Dem.”

Oh, can’t have your fellow Democrats thinking for themselves, can we?

You can thing whatever you want.
I understand being pissed if you’ve already paid them
Off. True question: are you also pissed about The unemployment bonuses?

I am also a democrat and I don't agree with student loan forgiveness. I am actively anti-student loan forgiveness. I also don't agree with the unemployment bonuses. I don't see why people should get more money on unemployment then they made working. Unemployment should have been increased to match their average weekly salary, up to the $600 week.

I don’t agree with social security/ Medicare for rich people like you - where can I sign up to deprive you of such socialism?

You do know that people pay for Medicare that covers little and have to pay for at least three other policies to get reasonable medical coverage.

[Anonymous]

Anonymous wrote:Why exactly do bootstrap republicans care if a POTUS makes fake Fed created debt disappear? The Fed just gave out trillions in fake created money to bankers and big business, what’s another $700 billion to Main Street? More specifically why does Main Street getting a “forgivable PPP loan” trigger such deep hatred?

Nothing will make the economy boom more than this move.

Because the filthy rich hold all the bonds wedded to this student loan usury & the for-profit service providers — e.g. publicly traded Navient — make billions. Both have lobbyists and troll farms pushing divide and conquer talking points.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I paid off my student loan. I am thrilled that I did. I am also happy that others are getting their loans forgiven. Student loan debt drags down the economy. Younger borrowers entered a horrible job market. I don’t understand why other posters get so worked up about debt forgiveness. Other should suffer because you did? It’s like you believe we should not have new drugs available for diseases because others who died didn’t have access to them.

I worked hard to pay my way through a state school and took on debt to get a degree that led to a well paying job. I was smug then about my superiority and I am smug now about my superiority. Let the sad sacks if the world have more relief. That is what the superior can bestow on the inferior.

Avg debt of public U grad is now $32,000. Half never graduate, still have debt to service with dim job prospects.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Since Republicans are all about pulling yourself up by the bootstraps I assume they will decline any such aid on principle.

Does not require GOP party support — Democrats are asking Trump to sign an executive order. Trump seems to understand the value of $1,200 checks with his name on them, isn’t this the same idea?

Yes but those BLM protesters will lose their s*it when they receive a letter from Trump forgiving their student loan debt. Then they can avoid getting a job even more and continue to protest. After the ACLU pays their legal expenses, they are debt free.

Trump doesn’t give a shit about poor people, nothing to do with BLM. He’s not forgiving shit. Half of these federal loans are held by the children of his piss poor base. He does not care.