Canceling $10k of student loan debt is stupid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is just SUCH a slap in the face to those of us who already paid off our loans.

Do they plan to do this annually? What about the kids who haven’t gone to college yet?

This. So if you budget and dutifully pay off your loans, you're screwed. I paid mine off a few years ago becuase I was super aggressive about it. If only I'd Paid just the minimum payment and left $10K on the table, I could've put that money in my pocket. What absolute BS.

It’s the same thing with the stimulus checks - how certain people at the same income level qualified and some didn’t. It’s never fair and it breeds resentment. But oh well. I just count my blessings.

[Anonymous]

Anonymous wrote:This is just SUCH a slap in the face to those of us who already paid off our loans.

Do they plan to do this annually? What about the kids who haven’t gone to college yet?

$10k wouldn't have made a dent in your MRS degree loans that DH paid off, let's at least be real here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Do I get $10k toward a graduate degree? Because I didn’t go to grad school because I knew that debt was a bad idea. So now I also gave up all the higher earnings I could’ve had.

This comment is non-sensical. First of all, you aren't guaranteed higher earnings with a graduate degree. Second, if you DO get higher earnings, the debt you take on should pay off. And third, what graduate degree costs 10k? None of them.

If you want to go to grad school, go. No one is stopping you.

False. A simple Google search will disprove this. There are online, 1-1.5 year graduate degree programs that cost $10k or less. I can’t speak to how valuable the degree itself is or what that entails while working full-time, but they’re out there.

[Anonymous]

In other news, average tuition increases by $10k a year.

[Anonymous]

Anonymous wrote:I paid my loans back like a responsible adult. Everyone else can do the same.

So much ahole entitlement mentality these days. This country is going down the toilet.

First it is $10k. Then they'll demand $20k. Then it's $40k. When does it end? What does forgiveness actually do to control costs of college? 5 years from now when you have another generation of whiny ass borrowers, what's going to stop them from demanding another round of forgiveness?

It never ends. Why don't you forgive my mortgage while you are at it? People who didn't take out loans or who paid their back also deserve something.

Agree. You borrowed, you pay. I worked my ass off to pay cash for my college.

[Anonymous]

Anonymous wrote:This is just SUCH a slap in the face to those of us who already paid off our loans.

Do they plan to do this annually? What about the kids who haven’t gone to college yet?

And a slap to people in higher cola areas with the 125k and 250k income caps. I posted on the politics forum that some people [now more than 1] have told my adult DC's they should get a salary reduction to get the 10k.

And we want 10k back for each adult DC for whom we paid tuition $. If that 10k was added to their loans I'd have 10k per kid. Public service jobs- teachers, firefighters, EMT, police, military - deserve help.

Here's a fact. 2 FCPS schools- elementaries are located on an Army base. Fort Belvoir. VDOE has statistics- 20% of military connected are FARMS.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I paid my loans back like a responsible adult. Everyone else can do the same.

So much ahole entitlement mentality these days. This country is going down the toilet.

First it is $10k. Then they'll demand $20k. Then it's $40k. When does it end? What does forgiveness actually do to control costs of college? 5 years from now when you have another generation of whiny ass borrowers, what's going to stop them from demanding another round of forgiveness?

It never ends. Why don't you forgive my mortgage while you are at it? People who didn't take out loans or who paid their back also deserve something.

Agree. You borrowed, you pay. I worked my ass off to pay cash for my college.

+1 I did the same for my $120k in loans.

[Anonymous]

Anonymous wrote:So you are basically saying "I borrowed, I told you that I'd pay back, but now I don't want to pay." I mean, are you okay with saying that? Does that not bother you?

That's basically what people and corporations declaring bankruptcy say. Yet that is legal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:So you are basically saying "I borrowed, I told you that I'd pay back, but now I don't want to pay." I mean, are you okay with saying that? Does that not bother you?

That's basically what people and corporations declaring bankruptcy say. Yet that is legal.

THe US Government forgave $782 billion of loans to businesses (many of them owned by wealthy celebrities like Kanye West, Tom Brady and the President's son-iin-law JaredKushner). I didn't see much outrage over that.

[Anonymous]

So now you have single moms without a college degree and earning maybe $75,000 (if they're lucky), and blue collar workers without a college degree making a combined income of $100,000, and others like these groups - paying for a loan forgiveness program for a couple making $250,000 a year.

WOW. How much sense does this make ? ? ?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So you are basically saying "I borrowed, I told you that I'd pay back, but now I don't want to pay." I mean, are you okay with saying that? Does that not bother you?

That's basically what people and corporations declaring bankruptcy say. Yet that is legal.

THe US Government forgave $782 billion of loans to businesses (many of them owned by wealthy celebrities like Kanye West, Tom Brady and the President's son-iin-law JaredKushner). I didn't see much outrage over that.

There's a list of members of congress who had their PPE loans forgiven too.

[Anonymous]

Why Biden’s choice is politically smart:
It’s not as much as cancelling all student debt
It could potentially quiet the calls for it, the discontent for a decade. Any comebacks after this $10k forgiveness will be met with “See? It’s never enough! [Points to action taken in Aug 2022]”. It puts an end to this period of light bullying of Biden.
The threshold was a great choice too. It comes under — refer to some NYT or such article calling anyone under 300k or 400k low-income— it comes under that with $250k taxable income max for couples.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So you are basically saying "I borrowed, I told you that I'd pay back, but now I don't want to pay." I mean, are you okay with saying that? Does that not bother you?

That's basically what people and corporations declaring bankruptcy say. Yet that is legal.

THe US Government forgave $782 billion of loans to businesses (many of them owned by wealthy celebrities like Kanye West, Tom Brady and the President's son-iin-law JaredKushner). I didn't see much outrage over that.

It's better for the United States' growth prospects that more of its youth are educated and skilled for the workforce, and not crippled by debt. People are just whining all over this thread, because this benefit is targeted at people with lower incomes and not DCUM middle class ($200K plus). They are mad that other people are getting something that they can't in a form of upper middle class resentment...

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So you are basically saying "I borrowed, I told you that I'd pay back, but now I don't want to pay." I mean, are you okay with saying that? Does that not bother you?

That's basically what people and corporations declaring bankruptcy say. Yet that is legal.

THe US Government forgave $782 billion of loans to businesses (many of them owned by wealthy celebrities like Kanye West, Tom Brady and the President's son-iin-law JaredKushner). I didn't see much outrage over that.

We said plenty about the abuse of the PPP loans, when it was happening. I still think people like Kanye West, Jared Kushner or Nancy Pelosi ought to be ashamed of themselves and repay those monies.

[Anonymous]

Anonymous wrote:Why Biden’s choice is politically smart:
It’s not as much as cancelling all student debt
It could potentially quiet the calls for it, the discontent for a decade. Any comebacks after this $10k forgiveness will be met with “See? It’s never enough! [Points to action taken in Aug 2022]”. It puts an end to this period of light bullying of Biden.
The threshold was a great choice too. It comes under — refer to some NYT or such article calling anyone under 300k or 400k low-income— it comes under that with $250k taxable income max for couples.

Me again. Ooh. I meant to add:
$10k in loan forgiveness is so much better than $10k cash.
Give the same to borrowers (or to people at large), and it doesn’t necessarily assist their lives. It helps the economy (debatable). But give people $10k directly to their loan balance, you’ve forced them to spend it ‘responsibly.’ What borrower is for sure going to get $10k cash and use it fully, 100%, toward their loans?