Why is Biden extending the student loan repayment pause?

[Anonymous]

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Anonymous wrote:Pp your comment about boomers missss the larger issue. Before federal loans were so available, the cost to go was less. More federal loans and grants has only increased the cost for everyone because the new “zero” assumes you have gotten the loans. There shouldn’t be any more loans or forgiveness available until colleges and universities are forced to tighten their belts. If that doesn’t happen, all that will happen is tuition will continue to ride because the faucet if federal money will just keep flowing. College has been experiencing outpaced inflation for Decades because of the flow of federa money. We are now seeing the same issue across the economy broadly and we are upset. But the same economic forces (federal cash) have resulted in skyrocketing tuition. It wasn’t the intent but it is the outcome. And it needs to be stopped before any more money flows.

I agree that colleges should be held responsible and tighten their belts. But that would require a bipartisan solution and the GOP isn't playing ball on anything, since they are in the pocket of scam for-profit colleges and behemoth student loan churners like Liberty University.

The solution would be requiring colleges to hold risk retention on 10% of the loans they originate so that students, colleges, and the US taxpayers have aligned incentives. Then make a requirement that participation in federal student loans requires a freeze on tuition and fees for 5 years, after which cost may increase in line with inflation.

The 5 years of budget tightening will drastically downsize the mid-level administrators, plus the bloated salaries for university presidents and major sports coaches.

Colleges are already rewarded or dinged on their cohort default rate. I’d argue that should be more severe.

I am pretty sure the colleges with the worst default rates are local community colleges (no admissions bar) and local regional/commuter public universities (very low admissions bar). If you try to force them to raise their admissions bar you're going to get viral cries of racism very, very quickly.

I don’t think true. Tuition at community colleges is often less than the Pell Grants so for many families, there’s no loan at all. There are also many institutional grants available snd many states offer free community college programs. Community colleges also house do many workforce training programs that a kid can transition to if they decide to leave a credit program.

You are wrong. Jill Biden's community college costs $23,000 per yr all-in. Pell Grant is only $640 to $6,400, if you even qualify for it. Millions of low and middle class community college alums have federal student loan debt. Most of them didn't even earn an associate's degree or credential.

About $18K of that is living expenses.

Most voters would be totally fine with forgiving $10-20K of student loan debt, but not expensive graduate degrees. The biggest problem with any proposal to forgive all student loan debt is that there's absolutely nothing happening for those kids that haven't started school at all. It's a terrible solution to wipe out debt for one group of people and then have another group accumulate debt a year later. And don't say Congress will fix it because that's obviously not happening.

Make community college free for two years for all or you can take the $10K that community college would have cost and apply it to an in-state public school. Provide extra supplements for transportation costs/food etc, to families who really need it, increase the Pell grant system, decrease interest rates for outstanding and new loans, and forgive $10-20K is a viable solution, but only if it's part of a package deal.

Most voters are absolutely against loan forgiveness.

I know, but I think most voters could stomach $10k of debt being removed if it was coupled with sensible policies moving forward.

No, we wouldn't.
Most voters never went to college. And, many who did scrimped and saved to pay their loans.

+1 Biden is trying to buy the votes of a very small percentage of Americans at the expense of the vast majority. The vey idea of loan forgiveness is absurd. Change the regulations and allow the deadbeats to file for bankruptcy and be held accountable for their idiotic life choices.

I'd go for that. People walked away from their underwater mortgages 14 years ago. Allow people to walk away from their huge student loans (which they assumed of their own free will), and let them bear the consequences of a bankruptcy instead of shifting responsibility for their poor choices to taxpayers.

Let the lending institutions bear the consequences of predatory lending. Also, such a move will force the lending institutions to tighten loan requirements moving forward.

The US government is the lender.

[Anonymous]

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Yeah I am. Go have your kid be a “trades person” if it’s so great. You won’t because you know it’s an inferior lifestyle (physically and financially) in every way.

When a Fox News pundit or CPAC speaker puts their child in a trade school instead of college I’ll listen

Ben Shapiro... Harvard Law School. Michael Knowles... Yale. Tucker Carlson and Jesse Watters... Trinity College. Clay Travis... Vanderbilt. Buck Sexton... Amherst.

These are some of the top right wing figures against student loan forgiveness. lol

Also, Christopher Rufo (anti CRT warrior) went to Georgetown

Ann Coulter… Cornell BA and Michigan JD. CPAC’s Matt and Mercedes Schlapp, Notre Dame and GW, both with master’s degrees.

And of course Candace Owens dropped out to become a grifter and Charlie Kirk never went. If only every kid in America could get right wing oligarch money for nothing.

Stay on topic
Thread title isn’t “republicans are hypocritical dicks”

If trade school is so wonderful and gives a person who completes it equivalent opportunities to those that a college grad has, then why aren’t these pundits sending their kid to trade school? How would they know it’s so great and wonderful; after all, they went to elite universities.

Hey dickhead,
I am a democrat that went to trade school and I’m doing just fine.
Plumbers, carpenters, cosmetologists, electricians can all make great money.
Stop worrying about what RWNJ’s are doing. Focus on what actually helps kids and families get ahead.
The system needs to be reformed
Universities have been robbing families blind because they can. Because there is a limitless firehouse of federal money.
Corporations don’t pay to train their entry level employees because they don’t have to.
College shouldn’t be for everyone. Most jobs don’t need it.

Don’t call me a dickhead. You can say “they make great money” all you want—they make way less ON AVERAGE than accountants, doctors, lawyers, dentists, physicians assistants, nurses and I could go on with a lower quality of life. Notice I specifically said “lifestyle.”

Then don’t act like one.
Some jobs need a degree. Most do not.
If you are so ashamed of your child being a plumber, that’s on you.
Not everyone is capable of being a doctor. Driving up the cost of higher education so everyone can have a trophy is ridiculous.
Trades jobs are important jobs. They are skilled jobs. They are essential jobs.
We are not all going to make the same living.

Trades are good, honest work. There's still a substantial wage premium for people with 4-year college degrees, though. That "trophy" you scorn is incredibly valuable.

Well this is really gonna blow your mind….
I have a degree. I’ve been to trade school. I am a member in good standing of a trade union.
I don’t “scorn” college. But you are making my point for me.
A degree has become valuable because it keeps people out. It’s valuable because employers say it is.
Why wouldn’t they? They don’t want to spend a few months teaching and training ( paying) a workforce on their dime.
They have gotten their workers to pay for it themselves.

[Anonymous]

Paternalistic conservatism, like always, rears it’s ugly hear.

[Anonymous]

Anonymous wrote:Paternalistic conservatism, like always, rears it’s ugly hear.

Is it paternalistic to expect you to pay your debts?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Paternalistic conservatism, like always, rears it’s ugly hear.

Is it paternalistic to expect you to pay your debts?

It’s paternalistic to say, “we should put THOSE kids in trade school at 14” or something.

I don’t have debts.

[Anonymous]

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Anonymous wrote:
Yeah I am. Go have your kid be a “trades person” if it’s so great. You won’t because you know it’s an inferior lifestyle (physically and financially) in every way.

When a Fox News pundit or CPAC speaker puts their child in a trade school instead of college I’ll listen

Ben Shapiro... Harvard Law School. Michael Knowles... Yale. Tucker Carlson and Jesse Watters... Trinity College. Clay Travis... Vanderbilt. Buck Sexton... Amherst.

These are some of the top right wing figures against student loan forgiveness. lol

Also, Christopher Rufo (anti CRT warrior) went to Georgetown

Ann Coulter… Cornell BA and Michigan JD. CPAC’s Matt and Mercedes Schlapp, Notre Dame and GW, both with master’s degrees.

And of course Candace Owens dropped out to become a grifter and Charlie Kirk never went. If only every kid in America could get right wing oligarch money for nothing.

Stay on topic
Thread title isn’t “republicans are hypocritical dicks”

If trade school is so wonderful and gives a person who completes it equivalent opportunities to those that a college grad has, then why aren’t these pundits sending their kid to trade school? How would they know it’s so great and wonderful; after all, they went to elite universities.

Hey dickhead,
I am a democrat that went to trade school and I’m doing just fine.
Plumbers, carpenters, cosmetologists, electricians can all make great money.
Stop worrying about what RWNJ’s are doing. Focus on what actually helps kids and families get ahead.
The system needs to be reformed
Universities have been robbing families blind because they can. Because there is a limitless firehouse of federal money.
Corporations don’t pay to train their entry level employees because they don’t have to.
College shouldn’t be for everyone. Most jobs don’t need it.

Don’t call me a dickhead. You can say “they make great money” all you want—they make way less ON AVERAGE than accountants, doctors, lawyers, dentists, physicians assistants, nurses and I could go on with a lower quality of life. Notice I specifically said “lifestyle.”

Then don’t act like one.
Some jobs need a degree. Most do not.
If you are so ashamed of your child being a plumber, that’s on you.
Not everyone is capable of being a doctor. Driving up the cost of higher education so everyone can have a trophy is ridiculous.
Trades jobs are important jobs. They are skilled jobs. They are essential jobs.
We are not all going to make the same living.

Trades are good, honest work. There's still a substantial wage premium for people with 4-year college degrees, though. That "trophy" you scorn is incredibly valuable.

DP More people should be going into skilled trades….those jobs will never be made redundant by AI. And I completely agree that college isn’t for everyone. There are droves of 18 year olds who view college as little other than a four year party and unfortunately it’s those imbeciles that are going to benefit from taxpayer dollars.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Paternalistic conservatism, like always, rears it’s ugly hear.

Is it paternalistic to expect you to pay your debts?

It’s paternalistic to say, “we should put THOSE kids in trade school at 14” or something.

I don’t have debts.

Who has said put 14 year olds in trade school?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Paternalistic conservatism, like always, rears it’s ugly hear.

Is it paternalistic to expect you to pay your debts?

It’s paternalistic to say, “we should put THOSE kids in trade school at 14” or something.

I don’t have debts.

Who has said put 14 year olds in trade school?

People advocating testing kids like in several European countries to track them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
Yeah I am. Go have your kid be a “trades person” if it’s so great. You won’t because you know it’s an inferior lifestyle (physically and financially) in every way.

When a Fox News pundit or CPAC speaker puts their child in a trade school instead of college I’ll listen

Ben Shapiro... Harvard Law School. Michael Knowles... Yale. Tucker Carlson and Jesse Watters... Trinity College. Clay Travis... Vanderbilt. Buck Sexton... Amherst.

These are some of the top right wing figures against student loan forgiveness. lol

Also, Christopher Rufo (anti CRT warrior) went to Georgetown

Ann Coulter… Cornell BA and Michigan JD. CPAC’s Matt and Mercedes Schlapp, Notre Dame and GW, both with master’s degrees.

And of course Candace Owens dropped out to become a grifter and Charlie Kirk never went. If only every kid in America could get right wing oligarch money for nothing.

Stay on topic
Thread title isn’t “republicans are hypocritical dicks”

If trade school is so wonderful and gives a person who completes it equivalent opportunities to those that a college grad has, then why aren’t these pundits sending their kid to trade school? How would they know it’s so great and wonderful; after all, they went to elite universities.

Hey dickhead,
I am a democrat that went to trade school and I’m doing just fine.
Plumbers, carpenters, cosmetologists, electricians can all make great money.
Stop worrying about what RWNJ’s are doing. Focus on what actually helps kids and families get ahead.
The system needs to be reformed
Universities have been robbing families blind because they can. Because there is a limitless firehouse of federal money.
Corporations don’t pay to train their entry level employees because they don’t have to.
College shouldn’t be for everyone. Most jobs don’t need it.

Don’t call me a dickhead. You can say “they make great money” all you want—they make way less ON AVERAGE than accountants, doctors, lawyers, dentists, physicians assistants, nurses and I could go on with a lower quality of life. Notice I specifically said “lifestyle.”

Then don’t act like one.
Some jobs need a degree. Most do not.
If you are so ashamed of your child being a plumber, that’s on you.
Not everyone is capable of being a doctor. Driving up the cost of higher education so everyone can have a trophy is ridiculous.
Trades jobs are important jobs. They are skilled jobs. They are essential jobs.
We are not all going to make the same living.

Trades are good, honest work. There's still a substantial wage premium for people with 4-year college degrees, though. That "trophy" you scorn is incredibly valuable.

DP More people should be going into skilled trades….those jobs will never be made redundant by AI. And I completely agree that college isn’t for everyone. There are droves of 18 year olds who view college as little other than a four year party and unfortunately it’s those imbeciles that are going to benefit from taxpayer dollars.

Every school is a party school.

[Anonymous]

Elizabeth Warren sold me on the idea during her campaign. She's right, it's a drag on our economy. Paying for Americans' college education is an investment in our economy and our future.

https://elizabethwarren.com/plans/student-loan-debt-day-one

[Anonymous]

Multi-millionaire Fox host with a BA from Dartmouth and JD from UVA claims and is proud (???) her mom worked as a waitress well past the age of social security to pay off her student loans. Being right wing is a mental disorder.

[Anonymous]

Anonymous wrote:Multi-millionaire Fox host with a BA from Dartmouth and JD from UVA claims and is proud (???) her mom worked as a waitress well past the age of social security to pay off her student loans. Being right wing is a mental disorder.

I agree with her.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Multi-millionaire Fox host with a BA from Dartmouth and JD from UVA claims and is proud (???) her mom worked as a waitress well past the age of social security to pay off her student loans. Being right wing is a mental disorder.

I agree with her.

So do I.
She was not a multi-millionaire when going through school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Multi-millionaire Fox host with a BA from Dartmouth and JD from UVA claims and is proud (???) her mom worked as a waitress well past the age of social security to pay off her student loans. Being right wing is a mental disorder.

I agree with her.

In other words, I suffered, so you should too!

[Anonymous]

Anonymous wrote:Elizabeth Warren sold me on the idea during her campaign. She's right, it's a drag on our economy. Paying for Americans' college education is an investment in our economy and our future.

https://elizabethwarren.com/plans/student-loan-debt-day-one

All these other "investments" are resulting in economic inflation of about 8% a year right now.