Canceling $10k of student loan debt is stupid.

[Anonymous]

I'm someone who's not going to benefit from this and I'm 100% on board. My first job out of college was working with low income kids and the student loan debt problem really hit them disproportionately.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Nanny again- with that $10k, I could go to a trades school and it would change my life.

Take out a student loan, go to school, apply for loan forgiveness. That’s how it works.

Nobody is sending checks to students.

This is a one time thing. Future students don't get any forgiveness that I've heard of.

That is so f'king unfair

“Fair”? Oh, you want to talk about fair in America? OK. I guess we’ll start with addressing the biggest unfairnesses of all:
1) This land was taken from Native people’s with bloodshed, force and unfair policies that echoes to this day.
2) This land was built on the backs of enslaved people, who were then subjected to unfair laws and policies, and the echoes continue to this day.
3) Women weren’t allowed to vote until 1920 and still do not make equal pay for equal work, and who bear the brunt of the financial burden of children—wanted or unwanted—in many cases and in many ways.

Thanks for kicking off a discussion about fairness. Looks like we’ll get to your concern about the unfairness of this debt forgiveness in about 200 years when we adequately address the other injustices that mar this country and hold its citizens back.

[Anonymous]

Anonymous wrote:I'm someone who's not going to benefit from this and I'm 100% on board. My first job out of college was working with low income kids and the student loan debt problem really hit them disproportionately.

But again, what about the low income kids graduating next year or the year after? This isn’t a recurring program. It’s a one time wealth redistribution going to mostly higher income people.

My sister is a SAHM in a LCOL area. Gorgeous large new construction home. Husband makes $140k. They got every round of stimulus, all the child tax credit money, and now they each get $10k of loan forgiveness.

Is she the person you are all intending to receive all this free money? Because I’m sure there are tons more like her. They’ve spent it all on pricey cars and travel. It’s insanity. What’s even crazier is they are Fox News republicans. Jokes on the Dems!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm someone who's not going to benefit from this and I'm 100% on board. My first job out of college was working with low income kids and the student loan debt problem really hit them disproportionately.

But again, what about the low income kids graduating next year or the year after? This isn’t a recurring program. It’s a one time wealth redistribution going to mostly higher income people.

My sister is a SAHM in a LCOL area. Gorgeous large new construction home. Husband makes $140k. They got every round of stimulus, all the child tax credit money, and now they each get $10k of loan forgiveness.

Is she the person you are all intending to receive all this free money? Because I’m sure there are tons more like her. They’ve spent it all on pricey cars and travel. It’s insanity. What’s even crazier is they are Fox News republicans. Jokes on the Dems!

So your point is that lower income people shouldn’t benefit now because this isn’t permanent? This is part of pandemic relief after a once in a generation pandemic. And future students will benefit from other students being less crippled by debt.

I also think you’re perseverating on your sister because you’re resentful she’s getting something you are not getting. The issue about LCOL areas getting more benefits even though their costs are lower is not unique to this loan forgiveness issue….it comes up in all aspects of the federal tax system.

[Anonymous]

Anonymous wrote:I'm someone who's not going to benefit from this and I'm 100% on board. My first job out of college was working with low income kids and the student loan debt problem really hit them disproportionately.

+1. Me too. I had substantial student loan debt when I graduated and the stress was high to pay them back. The cost of education has skyrocketed since I was in college and many of these young people are just really struggling.

[Anonymous]

Speaker of the House Nancy Pelosi publicly stated that Biden's action to forgive $10,000 of student loan debt is NOT legal; only Congress has that power. He can, however,enact a moratorium on payments.

Unless Congress acts, students are unlikely to get the $10,000 or $20,000 student debt loan forgiveness.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Nanny again- with that $10k, I could go to a trades school and it would change my life.

Take out a student loan, go to school, apply for loan forgiveness. That’s how it works.

Nobody is sending checks to students.

This is a one time thing. Future students don't get any forgiveness that I've heard of.

That is so f'king unfair

Your statement shows youth and inexperience. Welcome to America.

[Anonymous]

Honestly, the monthly payment for the child tax credit is what helped my family more than anything ever has. I can pay my 100 a month toward my loan. Bring the daycare money back.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Nanny again- with that $10k, I could go to a trades school and it would change my life.

Take out a student loan, go to school, apply for loan forgiveness. That’s how it works.

Nobody is sending checks to students.

This is a one time thing. Future students don't get any forgiveness that I've heard of.

That is so f'king unfair

“Fair”? Oh, you want to talk about fair in America? OK. I guess we’ll start with addressing the biggest unfairnesses of all:
1) This land was taken from Native people’s with bloodshed, force and unfair policies that echoes to this day.
2) This land was built on the backs of enslaved people, who were then subjected to unfair laws and policies, and the echoes continue to this day.
3) Women weren’t allowed to vote until 1920 and still do not make equal pay for equal work, and who bear the brunt of the financial burden of children—wanted or unwanted—in many cases and in many ways.

Thanks for kicking off a discussion about fairness. Looks like we’ll get to your concern about the unfairness of this debt forgiveness in about 200 years when we adequately address the other injustices that mar this country and hold its citizens back.

No where on the planet has ever been fair. This is the fairest it gets and it still isn’t all that. Still, so what about the history you cite. It still lead here. But dumb ideas can still be a threat and just bc we overcame them in the past doesn’t mean we over come them now. Heck, with all the Jacobins running around here forgetting about the fate of the previous lot of Jacobins I guess we should expect it. That, or maybe our own cultural revolution. Perhaps a return to religious based slavery. Who knows.

[Anonymous]

Anonymous wrote:Listening to KJP today trying to explain the legal justification for this policy and the economics of it was pure magic. It was a trip through time and space far away from the shackles of logic and mathematics. I’m going to rewatch it tomorrow night and crack open a great Pinot.

She’s either completely over her head or a total genius. Reporters sit their stunned at her word salad responses that it takes them several seconds to regain consciousness and by then her and her binder are safely backstage.

[Anonymous]

What if this had been done differently? What if Biden had said…

I know you haven’t had to make a payment since March 2020 and interest has not accrued.

We are going to resume payments on January 1st, but for 2023 you can make principal only payments to pay down as much as possible through 2023.

Loan terms will resume on January 1, 2024.

Who would pay as much as they could?

[Anonymous]

We cancelled a trillion in PPP loans and it’s a program (from both Trump and Biden) that was a massive rip-off as the DOJ is pursuing. I don’t like the education loan forgiveness program but banks, auto manufactures and many others have been bailed out.

[Anonymous]

Anonymous wrote:Speaker of the House Nancy Pelosi publicly stated that Biden's action to forgive $10,000 of student loan debt is NOT legal; only Congress has that power. He can, however,enact a moratorium on payments.

Unless Congress acts, students are unlikely to get the $10,000 or $20,000 student debt loan forgiveness.

I hope this is true.

[Anonymous]

Why do people care so much? Nobody said a peep during the trump tax cuts, since is a drop in the buck compared to them. We came out like bandits from the trump cuts and then the PPP free money. (small business owners)

Let the peons have a small piece of cake. Bread and circus and all that. The republicans really need to shut up on TV about this.

[Anonymous]

Anonymous wrote:What if this had been done differently? What if Biden had said…

I know you haven’t had to make a payment since March 2020 and interest has not accrued.

We are going to resume payments on January 1st, but for 2023 you can make principal only payments to pay down as much as possible through 2023.

Loan terms will resume on January 1, 2024.

Who would pay as much as they could?

Interesting idea.

The President could have reduced interest rates to 1% on all existing loans in order to encourage and to facilitate paying back loans.

The current student loan crisis benefits future students and their families since they are forewarned.