Why is Biden extending the student loan repayment pause?

[Anonymous]

Anonymous wrote:The Dems garner votes by giving away money and entitlements. Always have. That’s their shtick. Free stuff to the masses in exchange for feel good news stories and votes. Hence, let’s forgive student debt while not addressing the core issue: colleges cost too much now due to bloated administration costs and increased demand from “qualified” applicants that have inflated GPAs and no standardize test score requirements.

This. It’s buying votes.

[Anonymous]

I'm not sure 150 k individual/300 k family is tight enough, but it is what it is. Don't hate the folks who will see 10 k removed.

[Anonymous]

Anonymous wrote:I'm not sure 150 k individual/300 k family is tight enough, but it is what it is. Don't hate the folks who will see 10 k removed.

Actually I do hate you because I’m paying for your incompetence and dreadful decision making. Would you be thrilled to pay if 10k of somebody’s irresponsible credit card debt? Yeah..same thing. Reward the morons.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm not sure 150 k individual/300 k family is tight enough, but it is what it is. Don't hate the folks who will see 10 k removed.

Actually I do hate you because I’m paying for your incompetence and dreadful decision making. Would you be thrilled to pay if 10k of somebody’s irresponsible credit card debt? Yeah..same thing. Reward the morons.

I enjoy both you paying the $10k per Millennial as well as your impotent rage about it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm not sure 150 k individual/300 k family is tight enough, but it is what it is. Don't hate the folks who will see 10 k removed.

Actually I do hate you because I’m paying for your incompetence and dreadful decision making. Would you be thrilled to pay if 10k of somebody’s irresponsible credit card debt? Yeah..same thing. Reward the morons.

The morons have already been rewarded. You just didn’t care because no one whipped you into a frenzy about it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The problem with this stupid policy is:
1. It’s inflationary at a time when too much govt money has been dumped into the economy
2. It’s grossly unfair to those who exercised frugality in their college choices and paid off their loans
3. It’s grossly unfair for the working class to essentially pay off the professional classes debts. Why not cancel car loans if arbitrarily throwing money around…

For the 9537744th time, you can declare bankruptcy on car loans or credit card debt.

Again bankruptcy has consequences-it's on your financial record for 7 years preventing you from getting loans and you usually have to liquidate personal assets if you aren't completely broke. Forgiving student loans does not do any of these things and is basically giving out more free money.

Only for 7 years.

I'm not sure what your point is. Are you arguing bankruptcy is consequence free?

I’m arguing that student loan policies should be in line with bankruptcy protections for car loans and credit card debt. Even if that includes significantly raising student loan interest rates for students who have yet to take out loans.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm not sure 150 k individual/300 k family is tight enough, but it is what it is. Don't hate the folks who will see 10 k removed.

Actually I do hate you because I’m paying for your incompetence and dreadful decision making. Would you be thrilled to pay if 10k of somebody’s irresponsible credit card debt? Yeah..same thing. Reward the morons.

The morons have already been rewarded. You just didn’t care because no one whipped you into a frenzy about it.

"Renie57" needs to learn a little about the purpose for the PPP loans and the conditions on which they were given.
"Renie57" also needs to learn a little about college loans and the conditions on which they are given.
Drawing comparison between the two is moronic. And, anyone posting this tweet as a rationale to "forgive" (i.e. transfer the payment to taxpayers) college loans is uninformed, at best.

[Anonymous]

Anonymous wrote:The Dems garner votes by giving away money and entitlements. Always have. That’s their shtick. Free stuff to the masses in exchange for feel good news stories and votes. Hence, let’s forgive student debt while not addressing the core issue: colleges cost too much now due to bloated administration costs and increased demand from “qualified” applicants that have inflated GPAs and no standardize test score requirements.

What is it called when Republicans routinely give massive tax breaks to the wealthy and to corporations?

PS. I do agree that colleges cost too much.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The Dems garner votes by giving away money and entitlements. Always have. That’s their shtick. Free stuff to the masses in exchange for feel good news stories and votes. Hence, let’s forgive student debt while not addressing the core issue: colleges cost too much now due to bloated administration costs and increased demand from “qualified” applicants that have inflated GPAs and no standardize test score requirements.

What is it called when Republicans routinely give massive tax breaks to the wealthy and to corporations?

PS. I do agree that colleges cost too much.

If you are referring to the tax reform bill of 2017, do some research.

https://thehill.com/opinion/finance/584190-irs-data-prove-trump-tax-cuts-benefited-middle-working-class-americans-most/
IRS data proves Trump tax cuts benefited middle, working-class Americans most

https://www.thecentersquare.com/national/studies-trump-tax-cuts-helped-lower-income-families-build-back-better-helps-wealthier-americans/article_ce0796dc-56c2-11ec-bc54-2fe72e894bb7.html
Studies: Trump tax cuts helped lower income families, Build Back Better helps wealthier Americans

https://www.bloomberg.com/news/articles/2020-10-27/the-trump-tax-cut-wasn-t-just-for-the-rich
The Trump Tax Cut Wasn’t Just for the Rich

https://www.nytimes.com/2019/04/14/business/economy/income-tax-cut.html
Face It: You (Probably) Got a Tax Cut

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm not sure 150 k individual/300 k family is tight enough, but it is what it is. Don't hate the folks who will see 10 k removed.

Actually I do hate you because I’m paying for your incompetence and dreadful decision making. Would you be thrilled to pay if 10k of somebody’s irresponsible credit card debt? Yeah..same thing. Reward the morons.

I enjoy both you paying the $10k per Millennial as well as your impotent rage about it.

This! Haha! I received ZERO handouts last year (stimulus checks, child tax credits, being paid to say home with excessive unemployment benefits, etc.. due to being over the income limits). Hence, I feel no remorse for milking the gov for my student loan repayment. I hope they cancel some of it, but for the time being I will delay paying this corrupt system back for as long as I possibly can. I have the cash and could it off...but why bother. I may as well hold out and see what happens.

To all the Haters... Have fun seething over this post!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Pay what you owe. Unemployment is near where it was pre-pandemic. There are literally no more excuses for these freebies. Do you know why there's inflation? Because there is too much money everywhere. Making people pay what they owe is one way to reduce too much consumption that's driving so much inflation. That may be an unpopular view, but it's true. US household wealth and savings has exploded during the pandemic due to multiple stimuli and huge amounts of money printing. Time to take money out of the system and make people pay their bills.

The household wealth that has exploded is the boomer household wealth. Boomers don't owe student loans because the Great Generation adequately funded public universities. Of course the boomers then cut funding for those very public universities and gave themselves a tax cut.

It isn’t just “boomers” - I hate that term - that will rebel against cancellation of debt. It is gen X who have paid 20 of their 30 years of loans during more than one economic down turn without pause. It is those who have kids who are saving like crazy and wondering why. It is those who couldn’t/didn’t go to college. It is those who chose to go to a cheaper college or worked their way through school. This is a death sentence for any president that pushes this through. I can only imagine the commercials of young women in bikinis on the lawn of some fancy school with the line “this is the debt you are paying for” while they show the blue collar worker schlepping away. Biden would be an idiot to pass this and think he has any chance at re-election.

The bolded isn't possible anymore.

Also, this narrative that all college students are lazy freeloaders is really rich.

What world do you live in that you cannot work your way through school? You do not have to go to a 60k private college. Many people start at community college then onto a state school while paying for it themself. The problem is that people, probably like yourself, are too entitled and do not understand delayed gratification enough to take this route. It is possible and many people still do it.
Good luck with your debt. Those that support this and expect their debt to be forgiven only show their financial ignorance but their complete immaturity.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm not sure 150 k individual/300 k family is tight enough, but it is what it is. Don't hate the folks who will see 10 k removed.

Actually I do hate you because I’m paying for your incompetence and dreadful decision making. Would you be thrilled to pay if 10k of somebody’s irresponsible credit card debt? Yeah..same thing. Reward the morons.

I enjoy both you paying the $10k per Millennial as well as your impotent rage about it.

This! Haha! I received ZERO handouts last year (stimulus checks, child tax credits, being paid to say home with excessive unemployment benefits, etc.. due to being over the income limits). Hence, I feel no remorse for milking the gov for my student loan repayment. I hope they cancel some of it, but for the time being I will delay paying this corrupt system back for as long as I possibly can. I have the cash and could it off...but why bother. I may as well hold out and see what happens.

To all the Haters... Have fun seething over this post!

No one is seething over any anti-student loan posts. We haven't paid anything in student loans for over 2 years and expect we won't, because we actually won't vote for Democrats if payments resume. Your fiscal conservative fantasies are as effective as Libertarians which, obviously, no one listens to. It looks cool posting online though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Pay what you owe. Unemployment is near where it was pre-pandemic. There are literally no more excuses for these freebies. Do you know why there's inflation? Because there is too much money everywhere. Making people pay what they owe is one way to reduce too much consumption that's driving so much inflation. That may be an unpopular view, but it's true. US household wealth and savings has exploded during the pandemic due to multiple stimuli and huge amounts of money printing. Time to take money out of the system and make people pay their bills.

The household wealth that has exploded is the boomer household wealth. Boomers don't owe student loans because the Great Generation adequately funded public universities. Of course the boomers then cut funding for those very public universities and gave themselves a tax cut.

It isn’t just “boomers” - I hate that term - that will rebel against cancellation of debt. It is gen X who have paid 20 of their 30 years of loans during more than one economic down turn without pause. It is those who have kids who are saving like crazy and wondering why. It is those who couldn’t/didn’t go to college. It is those who chose to go to a cheaper college or worked their way through school. This is a death sentence for any president that pushes this through. I can only imagine the commercials of young women in bikinis on the lawn of some fancy school with the line “this is the debt you are paying for” while they show the blue collar worker schlepping away. Biden would be an idiot to pass this and think he has any chance at re-election.

I don’t have any debt. George Mason University, one of the cheapest VA instate schools, is $14,000/year in tuition alone. And that’s if you have no rent (live at home). That’s not cheap at all.

Good luck working your way through school as a premed. I’m guessing you think only people who are already born rich should do that, though.

The bolded isn't possible anymore.

Also, this narrative that all college students are lazy freeloaders is really rich.

What world do you live in that you cannot work your way through school? You do not have to go to a 60k private college. Many people start at community college then onto a state school while paying for it themself. The problem is that people, probably like yourself, are too entitled and do not understand delayed gratification enough to take this route. It is possible and many people still do it.
Good luck with your debt. Those that support this and expect their debt to be forgiven only show their financial ignorance but their complete immaturity.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm not sure 150 k individual/300 k family is tight enough, but it is what it is. Don't hate the folks who will see 10 k removed.

Actually I do hate you because I’m paying for your incompetence and dreadful decision making. Would you be thrilled to pay if 10k of somebody’s irresponsible credit card debt? Yeah..same thing. Reward the morons.

I enjoy both you paying the $10k per Millennial as well as your impotent rage about it.

This! Haha! I received ZERO handouts last year (stimulus checks, child tax credits, being paid to say home with excessive unemployment benefits, etc.. due to being over the income limits). Hence, I feel no remorse for milking the gov for my student loan repayment. I hope they cancel some of it, but for the time being I will delay paying this corrupt system back for as long as I possibly can. I have the cash and could it off...but why bother. I may as well hold out and see what happens.

To all the Haters... Have fun seething over this post!

Ahh, classic DCUM loser.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The Dems garner votes by giving away money and entitlements. Always have. That’s their shtick. Free stuff to the masses in exchange for feel good news stories and votes. Hence, let’s forgive student debt while not addressing the core issue: colleges cost too much now due to bloated administration costs and increased demand from “qualified” applicants that have inflated GPAs and no standardize test score requirements.

What is it called when Republicans routinely give massive tax breaks to the wealthy and to corporations?

PS. I do agree that colleges cost too much.

If you are referring to the tax reform bill of 2017, do some research.

https://thehill.com/opinion/finance/584190-irs-data-prove-trump-tax-cuts-benefited-middle-working-class-americans-most/
IRS data proves Trump tax cuts benefited middle, working-class Americans most

https://www.thecentersquare.com/national/studies-trump-tax-cuts-helped-lower-income-families-build-back-better-helps-wealthier-americans/article_ce0796dc-56c2-11ec-bc54-2fe72e894bb7.html
Studies: Trump tax cuts helped lower income families, Build Back Better helps wealthier Americans

https://www.bloomberg.com/news/articles/2020-10-27/the-trump-tax-cut-wasn-t-just-for-the-rich
The Trump Tax Cut Wasn’t Just for the Rich

https://www.nytimes.com/2019/04/14/business/economy/income-tax-cut.html
Face It: You (Probably) Got a Tax Cut

Leading off with an oped from the Hill. Very convincing