What is going on with student loans?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I was raised by a college professor and a SAHM. They made choices every.single.day to ensure my brother and I would have money for school. My dad would walk a half a mile to the bus stop to take the city bus to work instead of driving. Our cars were always older than I was, in fact the car I drove when I first got my license was 4 years older than I was. My mother clipped coupons. My dad brought his lunch. We always drove and camped on our vacations. I never got on a plane until I was 16. My mom shopped at garage sales. They rarely ate out. A million little decisions executed routinely. We never had anything fancy but we had more than enough and a very happy childhood and family life. My brother and I were both able to go to private colleges and graduate debt free (we both did work study and worked every summer) and my parents are now comfortably retired. It can be done. Based on that I sure do resent the people who go on a Disney cruise and then complain that they don’t have enough money for school.

Yeah I am personally one of those people who dont think that others should suffer because of their parents. Its a bit of this Christian BS that cant help but enter our society with the sins of the father and all.
You are lucky. Not everyone else is. While they were busy clipping coupons and taking lunch from home, they forgot to teach you empathy and compassion.

+ a million

[Anonymous]

Anonymous wrote:

Anonymous wrote:What's going on is leftists want to soak the taxpayer.

All of the loan forgiveness is a drop in the bucket compared to the DoD's bloated budget

$10K of loan forgiveness will cost $321 billion (source)

In 2021, the DoD budget was $753.5 billion (source)


So basically this forgiveness that will improve the lives of 45 million Americans is equal to 43% of the defense budget for one year. I'm OK with this. $10K gets the most bang for the buck as most student loan holders have balances of less than $20K. This will be a massive improvement to their lives.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why this impending 10 k loan forgiveness arouses so much rage and jealousy in UMC white folks is a mystery.

Oh, FFS. It is not jealousy at all. There are simply millions of us that don't want to pay for a loan you assumed and now want someone else to foot the bill for.
Millions of Americans chose not to go to college because they couldn't afford it. And, they sure as hell don't want to pay for your degree.

Please detail precisely how much you paid for the federal student loan payment and interest freeze these last 30 months.

[Anonymous]

Anonymous wrote:Why this impending 10 k loan forgiveness arouses so much rage and jealousy in UMC white folks is a mystery.

For me - It arouses so much rage (not jealousy) because I fought my way through college and grad school. My spouse did the same. We didn't party - we worked multiple jobs. He opened a business. I worked my way up in a male dominated field. We paid off our loans early instead of drinking lattes and carrying a fancy purse.

We kept our employees fully paid through covid while pausing our own children's 529's to do so and other sacrifices, supported every random mandate that was put on small businesses over the past two years with almost no support from the govt, watched as money was handed out like water, and now have to see a bunch of entitled college grads get more free money. We didn't qualify for a single government program as a family because of our income. We never received the random checks that others got. The PPP loan for the business did not cover the costs incurred over the past 2.5 years.

And now we have inflation, crazy costs for food and no respite in sight because of ridiculous leaders and a generation that cannot take responsibility for their actions. I am tired of paying for others. Blame the rich all you want but we kept 30 families in their homes, with health insurance and fed during the height of covid and did everything right. We have gotten nothing. Nothing from the government. I am tired of it.

Grow up and pay your bills and start a savings account in case of a disaster or pandemic.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I was raised by a college professor and a SAHM. They made choices every.single.day to ensure my brother and I would have money for school. My dad would walk a half a mile to the bus stop to take the city bus to work instead of driving. Our cars were always older than I was, in fact the car I drove when I first got my license was 4 years older than I was. My mother clipped coupons. My dad brought his lunch. We always drove and camped on our vacations. I never got on a plane until I was 16. My mom shopped at garage sales. They rarely ate out. A million little decisions executed routinely. We never had anything fancy but we had more than enough and a very happy childhood and family life. My brother and I were both able to go to private colleges and graduate debt free (we both did work study and worked every summer) and my parents are now comfortably retired. It can be done. Based on that I sure do resent the people who go on a Disney cruise and then complain that they don’t have enough money for school.

So your parents paid for your college. You are lucky. And now you want everyone to suffer who doesn’t have parents who live like monks. Why should people have to live this way to pay some college administrator’s fat salary? Again, everyone’s anger should be at the colleges, not kids and their parents.

Who forced you to lever up to afford a college degree? And why are so poor at your chosen vocation that you can’t meet your loan obligation?

Please put a picture of yourself next to the dictionary definition of privileged out-of-touch DC area resident. Do you have any clue at all of what non-DC bloatedpaper pusher jobs pay relative to the cost of college? Wow, some of you just have idea.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What's going on is leftists want to soak the taxpayer.

All of the loan forgiveness is a drop in the bucket compared to the DoD's bloated budget

$10K of loan forgiveness will cost $321 billion (source)

In 2021, the DoD budget was $753.5 billion (source)


So basically this forgiveness that will improve the lives of 45 million Americans is equal to 43% of the defense budget for one year. I'm OK with this. $10K gets the most bang for the buck as most student loan holders have balances of less than $20K. This will be a massive improvement to their lives.

This is inaccurate and that is a Wall Street rag, so no surprise they'd spread exaggerated disinfo.

Biden administration and independent experts estimate the "cost" with similar HHI cutoffs to the stimulus checks is about half that. Roughly $150 billion.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why this impending 10 k loan forgiveness arouses so much rage and jealousy in UMC white folks is a mystery.

For me - It arouses so much rage (not jealousy) because I fought my way through college and grad school. My spouse did the same. We didn't party - we worked multiple jobs. He opened a business. I worked my way up in a male dominated field. We paid off our loans early instead of drinking lattes and carrying a fancy purse.

We kept our employees fully paid through covid while pausing our own children's 529's to do so and other sacrifices, supported every random mandate that was put on small businesses over the past two years with almost no support from the govt, watched as money was handed out like water, and now have to see a bunch of entitled college grads get more free money. We didn't qualify for a single government program as a family because of our income. We never received the random checks that others got. The PPP loan for the business did not cover the costs incurred over the past 2.5 years.

And now we have inflation, crazy costs for food and no respite in sight because of ridiculous leaders and a generation that cannot take responsibility for their actions. I am tired of paying for others. Blame the rich all you want but we kept 30 families in their homes, with health insurance and fed during the height of covid and did everything right. We have gotten nothing. Nothing from the government. I am tired of it.

Grow up and pay your bills and start a savings account in case of a disaster or pandemic.

Another I’ve lived my life like a miserable stoic so everyone else should have to post. Why don’t we all just work and work for corporate America until we die and never have any fun? In fact, maybe we should get those freeloading infants to start working!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What's going on is leftists want to soak the taxpayer.

All of the loan forgiveness is a drop in the bucket compared to the DoD's bloated budget

$10K of loan forgiveness will cost $321 billion (source)

In 2021, the DoD budget was $753.5 billion (source)


So basically this forgiveness that will improve the lives of 45 million Americans is equal to 43% of the defense budget for one year. I'm OK with this. $10K gets the most bang for the buck as most student loan holders have balances of less than $20K. This will be a massive improvement to their lives.

This is inaccurate and that is a Wall Street rag, so no surprise they'd spread exaggerated disinfo.

Biden administration and independent experts estimate the "cost" with similar HHI cutoffs to the stimulus checks is about half that. Roughly $150 billion.

That article is from earlier this year, when income cut-offs were not on the table.

If $150 billion is the real number with income cut-offs, then it will only be 20% of the defense budget for one year. Anyone quibbling about this is just an @sshole.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why this impending 10 k loan forgiveness arouses so much rage and jealousy in UMC white folks is a mystery.

For me - It arouses so much rage (not jealousy) because I fought my way through college and grad school. My spouse did the same. We didn't party - we worked multiple jobs. He opened a business. I worked my way up in a male dominated field. We paid off our loans early instead of drinking lattes and carrying a fancy purse.

We kept our employees fully paid through covid while pausing our own children's 529's to do so and other sacrifices, supported every random mandate that was put on small businesses over the past two years with almost no support from the govt, watched as money was handed out like water, and now have to see a bunch of entitled college grads get more free money. We didn't qualify for a single government program as a family because of our income. We never received the random checks that others got. The PPP loan for the business did not cover the costs incurred over the past 2.5 years.

And now we have inflation, crazy costs for food and no respite in sight because of ridiculous leaders and a generation that cannot take responsibility for their actions. I am tired of paying for others. Blame the rich all you want but we kept 30 families in their homes, with health insurance and fed during the height of covid and did everything right. We have gotten nothing. Nothing from the government. I am tired of it.

Grow up and pay your bills and start a savings account in case of a disaster or pandemic.

So you took no CARES Act money? I call BS.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why this impending 10 k loan forgiveness arouses so much rage and jealousy in UMC white folks is a mystery.

For me - It arouses so much rage (not jealousy) because I fought my way through college and grad school. My spouse did the same. We didn't party - we worked multiple jobs. He opened a business. I worked my way up in a male dominated field. We paid off our loans early instead of drinking lattes and carrying a fancy purse.

We kept our employees fully paid through covid while pausing our own children's 529's to do so and other sacrifices, supported every random mandate that was put on small businesses over the past two years with almost no support from the govt, watched as money was handed out like water, and now have to see a bunch of entitled college grads get more free money. We didn't qualify for a single government program as a family because of our income. We never received the random checks that others got. The PPP loan for the business did not cover the costs incurred over the past 2.5 years.

And now we have inflation, crazy costs for food and no respite in sight because of ridiculous leaders and a generation that cannot take responsibility for their actions. I am tired of paying for others. Blame the rich all you want but we kept 30 families in their homes, with health insurance and fed during the height of covid and did everything right. We have gotten nothing. Nothing from the government. I am tired of it.

Grow up and pay your bills and start a savings account in case of a disaster or pandemic.

Your faulty assumption is that the people with the loans actually got to graduate with a degree. Sooooooooooo many current student loan borrowers had to drop-out due to lack of money, caretaking, illness, childcare, etc.

The people most likely to default on their student loans? Those with less than $10K borrowed! They are poor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why this impending 10 k loan forgiveness arouses so much rage and jealousy in UMC white folks is a mystery.

For me - It arouses so much rage (not jealousy) because I fought my way through college and grad school. My spouse did the same. We didn't party - we worked multiple jobs. He opened a business. I worked my way up in a male dominated field. We paid off our loans early instead of drinking lattes and carrying a fancy purse.

We kept our employees fully paid through covid while pausing our own children's 529's to do so and other sacrifices, supported every random mandate that was put on small businesses over the past two years with almost no support from the govt, watched as money was handed out like water, and now have to see a bunch of entitled college grads get more free money. We didn't qualify for a single government program as a family because of our income. We never received the random checks that others got. The PPP loan for the business did not cover the costs incurred over the past 2.5 years.

And now we have inflation, crazy costs for food and no respite in sight because of ridiculous leaders and a generation that cannot take responsibility for their actions. I am tired of paying for others. Blame the rich all you want but we kept 30 families in their homes, with health insurance and fed during the height of covid and did everything right. We have gotten nothing. Nothing from the government. I am tired of it.

Grow up and pay your bills and start a savings account in case of a disaster or pandemic.

Your faulty assumption is that the people with the loans actually got to graduate with a degree. Sooooooooooo many current student loan borrowers had to drop-out due to lack of money, caretaking, illness, childcare, etc.

The people most likely to default on their student loans? Those with less than $10K borrowed! They are poor.

+1

PP, the government provides the education that makes your workers productive, and the infrastructure that allows your business to operate. It keeps your community and your country safe, again, so that your business can operate. That makes it possible for you to earn the income you feel so entitled to (and more! but alas, you are too rich). So no, the government hasn't given you "nothing". You have gotten a heck of a lot more than $10k from the government, so stop acting so entitled.

[Anonymous]

If they didn’t give the $10k during the height of the pandemic — when TRILLIONS were flowing from the treasury — you guys and gals are beyond gullible if you think they’ll EVER do it. It will NEVER happen. How many more times can you swallow these same lies and false promises and right wing bogeyman excuses?

[Anonymous]

Anonymous wrote:Why this impending 10 k loan forgiveness arouses so much rage and jealousy in UMC white folks is a mystery.

I have zero rage or jealousy. I fully support it! I won’t benefit from it but I don’t need it. Americans are consumed with anyone getting any kind of help. I think it’s because there is such huge inequity in our society. People see everything as a zero sum game. It’s just a terrible time. We need a better social safety net or higher taxes on the wealthy.

[Anonymous]

Anonymous wrote:If they didn’t give the $10k during the height of the pandemic — when TRILLIONS were flowing from the treasury — you guys and gals are beyond gullible if you think they’ll EVER do it. It will NEVER happen. How many more times can you swallow these same lies and false promises and right wing bogeyman excuses?

It's pretty clear if Biden doesn't do it by the end of the month that he will never do it.

That being said as a former borrower I have seen clear differences in how the Obama and Biden administrations handled student loans vs the Trump administration. Under Trump/DeVos the Department of Ed did everything in its power to prevent people from getting student loan forgiveness (through existing programs like PSLF). I actually have the receipts - 10 of my payments disappeared from their records very soon after DeVos was appointed. I tried for YEARS to get them to count them again and surprise, after Biden came into office it was not hard to get them to count them. At least on PSLF, the Biden administration has basically tried to forgive loans for anyone who might possibly qualify. They're also doing a lot that Republicans would never do in terms of fighting back against for-profit scammy colleges. Is it enough? No, of course people are still suffering, but it is absolutely better than what Republicans want to do.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I was raised by a college professor and a SAHM. They made choices every.single.day to ensure my brother and I would have money for school. My dad would walk a half a mile to the bus stop to take the city bus to work instead of driving. Our cars were always older than I was, in fact the car I drove when I first got my license was 4 years older than I was. My mother clipped coupons. My dad brought his lunch. We always drove and camped on our vacations. I never got on a plane until I was 16. My mom shopped at garage sales. They rarely ate out. A million little decisions executed routinely. We never had anything fancy but we had more than enough and a very happy childhood and family life. My brother and I were both able to go to private colleges and graduate debt free (we both did work study and worked every summer) and my parents are now comfortably retired. It can be done. Based on that I sure do resent the people who go on a Disney cruise and then complain that they don’t have enough money for school.

So your parents paid for your college. You are lucky. And now you want everyone to suffer who doesn’t have parents who live like monks. Why should people have to live this way to pay some college administrator’s fat salary? Again, everyone’s anger should be at the colleges, not kids and their parents.

Who forced you to lever up to afford a college degree? And why are so poor at your chosen vocation that you can’t meet your loan obligation?

Please put a picture of yourself next to the dictionary definition of privileged out-of-touch DC area resident. Do you have any clue at all of what non-DC bloatedpaper pusher jobs pay relative to the cost of college? Wow, some of you just have idea.

Then why did you go to college at all if you’re now stuck in some low wage job? And why did you major in gender studies or some other worthless degree? And why can’t you secure a job or jobs that allow you to meet your debt obligation? And you’re so entitled and privileged to believe that your dumb secessions should be bailed out by taxpayers?