What is going on with student loans?

[Anonymous]

Anonymous wrote:

Anonymous wrote:There is no point in any forgiveness unless it's part of a broader solution to the cost of higher education. Forgiveness now just sets up the same problem in another decade

Agree that there needs to be a broader solution, but it's a bit hyperbolic to say "there's no point in any forgiveness" without it. The people who get their loans forgiven will benefit, especially those with low balances and low incomes (where a low balance is a burden). I do think it should be for people who have been in repayment for a certain amount of time and not just everyone who happens to be in repayment right now and then nobody else.

And entering freshman who face the same situation (actually worse thanks to educational inflation) get nothing. There hasn't even been a whisper about solving that end of the problem other than empty campaign rhetoric.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no point in any forgiveness unless it's part of a broader solution to the cost of higher education. Forgiveness now just sets up the same problem in another decade

Agree that there needs to be a broader solution, but it's a bit hyperbolic to say "there's no point in any forgiveness" without it. The people who get their loans forgiven will benefit, especially those with low balances and low incomes (where a low balance is a burden). I do think it should be for people who have been in repayment for a certain amount of time and not just everyone who happens to be in repayment right now and then nobody else.

And entering freshman who face the same situation (actually worse thanks to educational inflation) get nothing. There hasn't even been a whisper about solving that end of the problem other than empty campaign rhetoric.

$10,000 of forgiveness is something Biden can do right now. He can't unilaterally commit to forgiving incoming freshmen's debt that they haven't even accrued yet. He probably won't even be president when they go into repayment. He can't forgive everyone's loans forever or stop inflation of college tuition. I do think his administration should come up with a plan to deal with that, but it doesn't mean he can't forgive $10,000 now. It's the responsibility of Congress to come up with a longer term solution.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no point in any forgiveness unless it's part of a broader solution to the cost of higher education. Forgiveness now just sets up the same problem in another decade

Agree that there needs to be a broader solution, but it's a bit hyperbolic to say "there's no point in any forgiveness" without it. The people who get their loans forgiven will benefit, especially those with low balances and low incomes (where a low balance is a burden). I do think it should be for people who have been in repayment for a certain amount of time and not just everyone who happens to be in repayment right now and then nobody else.

And entering freshman who face the same situation (actually worse thanks to educational inflation) get nothing. There hasn't even been a whisper about solving that end of the problem other than empty campaign rhetoric.

$10,000 of forgiveness is something Biden can do right now. He can't unilaterally commit to forgiving incoming freshmen's debt that they haven't even accrued yet. He probably won't even be president when they go into repayment. He can't forgive everyone's loans forever or stop inflation of college tuition. I do think his administration should come up with a plan to deal with that, but it doesn't mean he can't forgive $10,000 now. It's the responsibility of Congress to come up with a longer term solution.

The department of education as well as any grant issuing arm of the government can attempt to control costs through rule making. If you tied research grants to undergraduate affordability, schools would find a way to make it happen

[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.

I’m sorry you are so angry.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no point in any forgiveness unless it's part of a broader solution to the cost of higher education. Forgiveness now just sets up the same problem in another decade

Agree that there needs to be a broader solution, but it's a bit hyperbolic to say "there's no point in any forgiveness" without it. The people who get their loans forgiven will benefit, especially those with low balances and low incomes (where a low balance is a burden). I do think it should be for people who have been in repayment for a certain amount of time and not just everyone who happens to be in repayment right now and then nobody else.

And entering freshman who face the same situation (actually worse thanks to educational inflation) get nothing. There hasn't even been a whisper about solving that end of the problem other than empty campaign rhetoric.

$10,000 of forgiveness is something Biden can do right now. He can't unilaterally commit to forgiving incoming freshmen's debt that they haven't even accrued yet. He probably won't even be president when they go into repayment. He can't forgive everyone's loans forever or stop inflation of college tuition. I do think his administration should come up with a plan to deal with that, but it doesn't mean he can't forgive $10,000 now. It's the responsibility of Congress to come up with a longer term solution.

The department of education as well as any grant issuing arm of the government can attempt to control costs through rule making. If you tied research grants to undergraduate affordability, schools would find a way to make it happen

Fair enough but that's a great example of something that would help future borrowers but not borrowers currently in repayment. So is your issue that you only want to help future borrowers?

[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.

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.

They didn’t live like monks - they lived beneath their means. It’s a real thing people used to do. People suffer all kinds of hardships because of lousy parents. It’s the ant and the grasshopper my friend. These people with parents who aren’t able to make good choices about money will show up, hat in hand when their parents reach retirement age and they want top of the line assisted living for them. IMO - in state school should be a lot more affordable than it is. The state schools should fill their classes with in state kids first and then anyone else from out of state simple. Also I’m not even remotely Christian, wouldn’t want to be affiliated with the hypocrisy and hate of that crowd. If we forgive these loans that does nothing but encourage schools to keep the cost high and people to borrow again hoping for another amnesty. Going to a private school or out of state is a luxury plain and simple. If you can’t afford it, you can’t afford it and one does not have to be a financial wizard to understand that borrowing $100K for a degree in philosophy isn’t very likely to be something that you can pay back.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no point in any forgiveness unless it's part of a broader solution to the cost of higher education. Forgiveness now just sets up the same problem in another decade

Agree that there needs to be a broader solution, but it's a bit hyperbolic to say "there's no point in any forgiveness" without it. The people who get their loans forgiven will benefit, especially those with low balances and low incomes (where a low balance is a burden). I do think it should be for people who have been in repayment for a certain amount of time and not just everyone who happens to be in repayment right now and then nobody else.

And entering freshman who face the same situation (actually worse thanks to educational inflation) get nothing. There hasn't even been a whisper about solving that end of the problem other than empty campaign rhetoric.

$10,000 of forgiveness is something Biden can do right now. He can't unilaterally commit to forgiving incoming freshmen's debt that they haven't even accrued yet. He probably won't even be president when they go into repayment. He can't forgive everyone's loans forever or stop inflation of college tuition. I do think his administration should come up with a plan to deal with that, but it doesn't mean he can't forgive $10,000 now. It's the responsibility of Congress to come up with a longer term solution.

The department of education as well as any grant issuing arm of the government can attempt to control costs through rule making. If you tied research grants to undergraduate affordability, schools would find a way to make it happen

Fair enough but that's a great example of something that would help future borrowers but not borrowers currently in repayment. So is your issue that you only want to help future borrowers?

DP it should be obvious that a systemic fix would be far more meaningful than some useless one-off loan forgiveness. Not sure why you’re having difficulty understanding that.

[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.

I’m sorry you are so angry.

This Brenda Bootstraps has a real bee in her bonnet. And her business has received nothing from the government? LOL.

[Anonymous]

Anonymous wrote:

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.

I’m sorry you are so angry.

This Brenda Bootstraps has a real bee in her bonnet. And her business has received nothing from the government? LOL.

DP you’re misreading public sentiment if you think debt forgiveness is a popular issue amongst voters……it’s not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no point in any forgiveness unless it's part of a broader solution to the cost of higher education. Forgiveness now just sets up the same problem in another decade

Agree that there needs to be a broader solution, but it's a bit hyperbolic to say "there's no point in any forgiveness" without it. The people who get their loans forgiven will benefit, especially those with low balances and low incomes (where a low balance is a burden). I do think it should be for people who have been in repayment for a certain amount of time and not just everyone who happens to be in repayment right now and then nobody else.

And entering freshman who face the same situation (actually worse thanks to educational inflation) get nothing. There hasn't even been a whisper about solving that end of the problem other than empty campaign rhetoric.

$10,000 of forgiveness is something Biden can do right now. He can't unilaterally commit to forgiving incoming freshmen's debt that they haven't even accrued yet. He probably won't even be president when they go into repayment. He can't forgive everyone's loans forever or stop inflation of college tuition. I do think his administration should come up with a plan to deal with that, but it doesn't mean he can't forgive $10,000 now. It's the responsibility of Congress to come up with a longer term solution.

The department of education as well as any grant issuing arm of the government can attempt to control costs through rule making. If you tied research grants to undergraduate affordability, schools would find a way to make it happen

Fair enough but that's a great example of something that would help future borrowers but not borrowers currently in repayment. So is your issue that you only want to help future borrowers?

DP it should be obvious that a systemic fix would be far more meaningful than some useless one-off loan forgiveness. Not sure why you’re having difficulty understanding that.

Wow you are pleasant. Sounds to me like you don't understand the need to help current borrowers that are struggling.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

I’m sorry you are so angry.

This Brenda Bootstraps has a real bee in her bonnet. And her business has received nothing from the government? LOL.

DP you’re misreading public sentiment if you think debt forgiveness is a popular issue amongst voters……it’s not.

The responses this poster got shows such disdain for those that do hard work.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no point in any forgiveness unless it's part of a broader solution to the cost of higher education. Forgiveness now just sets up the same problem in another decade

Agree that there needs to be a broader solution, but it's a bit hyperbolic to say "there's no point in any forgiveness" without it. The people who get their loans forgiven will benefit, especially those with low balances and low incomes (where a low balance is a burden). I do think it should be for people who have been in repayment for a certain amount of time and not just everyone who happens to be in repayment right now and then nobody else.

And entering freshman who face the same situation (actually worse thanks to educational inflation) get nothing. There hasn't even been a whisper about solving that end of the problem other than empty campaign rhetoric.

$10,000 of forgiveness is something Biden can do right now. He can't unilaterally commit to forgiving incoming freshmen's debt that they haven't even accrued yet. He probably won't even be president when they go into repayment. He can't forgive everyone's loans forever or stop inflation of college tuition. I do think his administration should come up with a plan to deal with that, but it doesn't mean he can't forgive $10,000 now. It's the responsibility of Congress to come up with a longer term solution.

The department of education as well as any grant issuing arm of the government can attempt to control costs through rule making. If you tied research grants to undergraduate affordability, schools would find a way to make it happen

Fair enough but that's a great example of something that would help future borrowers but not borrowers currently in repayment. So is your issue that you only want to help future borrowers?

DP it should be obvious that a systemic fix would be far more meaningful than some useless one-off loan forgiveness. Not sure why you’re having difficulty understanding that.

Wow you are pleasant. Sounds to me like you don't understand the need to help current borrowers that are struggling.

The government isn’t your dad, there to bail you out from every dumb choice you make. You are accountable for your choices and your actions.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

I’m sorry you are so angry.

This Brenda Bootstraps has a real bee in her bonnet. And her business has received nothing from the government? LOL.

DP you’re misreading public sentiment if you think debt forgiveness is a popular issue amongst voters……it’s not.

The responses this poster got shows such disdain for those that do hard work.

Not that many Americans went to college and a sizeable number who did do not have loans anymore. It's a wealth transfer to the few that will piss off the many.

https://www.census.gov/content/dam/Census/library/working-papers/2022/demo/sehsd-wp2022-09.pdf

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no point in any forgiveness unless it's part of a broader solution to the cost of higher education. Forgiveness now just sets up the same problem in another decade

Agree that there needs to be a broader solution, but it's a bit hyperbolic to say "there's no point in any forgiveness" without it. The people who get their loans forgiven will benefit, especially those with low balances and low incomes (where a low balance is a burden). I do think it should be for people who have been in repayment for a certain amount of time and not just everyone who happens to be in repayment right now and then nobody else.

And entering freshman who face the same situation (actually worse thanks to educational inflation) get nothing. There hasn't even been a whisper about solving that end of the problem other than empty campaign rhetoric.

$10,000 of forgiveness is something Biden can do right now. He can't unilaterally commit to forgiving incoming freshmen's debt that they haven't even accrued yet. He probably won't even be president when they go into repayment. He can't forgive everyone's loans forever or stop inflation of college tuition. I do think his administration should come up with a plan to deal with that, but it doesn't mean he can't forgive $10,000 now. It's the responsibility of Congress to come up with a longer term solution.

The department of education as well as any grant issuing arm of the government can attempt to control costs through rule making. If you tied research grants to undergraduate affordability, schools would find a way to make it happen

Fair enough but that's a great example of something that would help future borrowers but not borrowers currently in repayment. So is your issue that you only want to help future borrowers?

DP it should be obvious that a systemic fix would be far more meaningful than some useless one-off loan forgiveness. Not sure why you’re having difficulty understanding that.

Wow you are pleasant. Sounds to me like you don't understand the need to help current borrowers that are struggling.

The government isn’t your dad, there to bail you out from every dumb choice you make. You are accountable for your choices and your actions.

I hope that you would also hold large corporations and everyone who took CARES Act funds to your hardass standards. But you probably own stock in those, so you support that. Typical Republican.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no point in any forgiveness unless it's part of a broader solution to the cost of higher education. Forgiveness now just sets up the same problem in another decade

Agree that there needs to be a broader solution, but it's a bit hyperbolic to say "there's no point in any forgiveness" without it. The people who get their loans forgiven will benefit, especially those with low balances and low incomes (where a low balance is a burden). I do think it should be for people who have been in repayment for a certain amount of time and not just everyone who happens to be in repayment right now and then nobody else.

And entering freshman who face the same situation (actually worse thanks to educational inflation) get nothing. There hasn't even been a whisper about solving that end of the problem other than empty campaign rhetoric.

$10,000 of forgiveness is something Biden can do right now. He can't unilaterally commit to forgiving incoming freshmen's debt that they haven't even accrued yet. He probably won't even be president when they go into repayment. He can't forgive everyone's loans forever or stop inflation of college tuition. I do think his administration should come up with a plan to deal with that, but it doesn't mean he can't forgive $10,000 now. It's the responsibility of Congress to come up with a longer term solution.

The department of education as well as any grant issuing arm of the government can attempt to control costs through rule making. If you tied research grants to undergraduate affordability, schools would find a way to make it happen

Fair enough but that's a great example of something that would help future borrowers but not borrowers currently in repayment. So is your issue that you only want to help future borrowers?

DP it should be obvious that a systemic fix would be far more meaningful than some useless one-off loan forgiveness. Not sure why you’re having difficulty understanding that.

Wow you are pleasant. Sounds to me like you don't understand the need to help current borrowers that are struggling.

Why would I care? I have far more sympathy for people that are overextended on credit card debt or mortgage payments. Some imbecile who voluntarily levered up on student loans should be scorned, not helped.