Canceling $10k of student loan debt is stupid.

[Anonymous]

I saw there's a Fortune article stating Parent Plus loans are eligible for forgiveness. Now that y'all have a response to you letters to the editor, are you all about forgiveness now that you benefit? You even get $20k if you were on Pell grants back in the day.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Would folks have an issue with loan repayment for police academy? Do they have an issue with US military receiving tuition benefits? It shouldn't be an issue to extend that concept to service professions such as nursing, teachers, etc.

Wouldn't it make more sense to let the free market do its thing, and allow pay rates to rise for those professions if there are not enough people with the needed qualifications to do the work?

Totally agree for services that aren't essential, but for essential services, the lapse in waiting for that to happen comes at the expense of the American people. I didn't agree with loan forgiveness for all, but I could absolutely support improved loan forgiveness for certain professions.

This is ridiculous logic. If it was essential and in short supply, it would be well paying.

Daycare teachers?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Would folks have an issue with loan repayment for police academy? Do they have an issue with US military receiving tuition benefits? It shouldn't be an issue to extend that concept to service professions such as nursing, teachers, etc.

Wouldn't it make more sense to let the free market do its thing, and allow pay rates to rise for those professions if there are not enough people with the needed qualifications to do the work?

Totally agree for services that aren't essential, but for essential services, the lapse in waiting for that to happen comes at the expense of the American people. I didn't agree with loan forgiveness for all, but I could absolutely support improved loan forgiveness for certain professions.

This is ridiculous logic. If it was essential and in short supply, it would be well paying.

Daycare teachers?

Nursing assistants?
Teachers?

[Anonymous]

Anonymous wrote:During the onset of the coronavirus outbreak, newspaper articles wrote that traveling nurses could earn at the rate of over $400,000 per year with massive amounts of overtime based on a base pay rate of $90 per hour ($180,000 for 2,000 hours = 50 weeks x 40 hours per week plus $135 per hour overtime rate. X 40 X 50 = an additional $270,000 for a total of $450,000).

Someone who actually worked 40 hours of overtime per week might trigger double time at some point instead of just time and a half.

Transportation, hotel/motel room and meals were also paid for the travelling nurses.

But the work can be very stressful and exhausting.

That was then, this is now.

[Anonymous]

Anonymous wrote:Canceling any new or old measly $10k of student loan debt is the dumbest idea. What is the payment on that, a mere $100/month?

Instead, the struggling folks need help - the ones buried under 75k, 100k, 300k of debt for over 20 years who, because it's been 20 years, obviously they can't pay it! And I mean 20 years since school completion, not 20 years of qualifying payments, huge difference.

my 2 cents

It's not stupid if your intention is to buy some votes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Would folks have an issue with loan repayment for police academy? Do they have an issue with US military receiving tuition benefits? It shouldn't be an issue to extend that concept to service professions such as nursing, teachers, etc.

Wouldn't it make more sense to let the free market do its thing, and allow pay rates to rise for those professions if there are not enough people with the needed qualifications to do the work?

Totally agree for services that aren't essential, but for essential services, the lapse in waiting for that to happen comes at the expense of the American people. I didn't agree with loan forgiveness for all, but I could absolutely support improved loan forgiveness for certain professions.

This is ridiculous logic. If it was essential and in short supply, it would be well paying.

Daycare teachers?

Nursing assistants?
Teachers?

Elder care?
Also, while customer service jobs don’t require higher ed, many management positions in the service economy do, and people don’t get rich that way. Restaurant managers, hotel managers, grocery store managers— these people are essential.

[Anonymous]

https://www.nytimes.com/2022/08/30/opinion/student-loan-debt-relief-biden.html

interesting op-ed:

I once thought forgiveness to be an expensive Band-Aid, a distraction from fundamental reform. But I have seen so little progress on these issues that I now think we must make amends to those we have harmed. It’s time to erase the debts of those millions who borrowed modestly for their education but wound up in financial distress because of our disjointed loan system.

Loan forgiveness is not just warranted; it’s fair: Government policy did harm, and it is government policy that should work to reverse it.

[Anonymous]

Anonymous wrote:During the onset of the coronavirus outbreak, newspaper articles wrote that traveling nurses could earn at the rate of over $400,000 per year with massive amounts of overtime based on a base pay rate of $90 per hour ($180,000 for 2,000 hours = 50 weeks x 40 hours per week plus $135 per hour overtime rate. X 40 X 50 = an additional $270,000 for a total of $450,000).

Someone who actually worked 40 hours of overtime per week might trigger double time at some point instead of just time and a half.

Transportation, hotel/motel room and meals were also paid for the travelling nurses.

But the work can be very stressful and exhausting.

Nursing can be stressful and exhausting. Police, fire, military, some roles in alphabet agencies are an entirely different prospect as far as level of personal risk than teachers and nurses. Teach grants [given despite parental income]are weird in that suspension of service is max 3 years for military and military spouses. That's a huge disconnect considering military enlistment contracts.

PSLF -Public Service Loan Forgiveness on direct loans includes govt employees and non-profits. You can enter EIN's and surf away. From private schools like GDS to Casa. But risk your life in the marines interrupting the service for more than 3 years? Bye bye teach grant forgiveness.

[Anonymous]

Anonymous wrote:https://www.nytimes.com/2022/08/30/opinion/student-loan-debt-relief-biden.html

interesting op-ed:

I once thought forgiveness to be an expensive Band-Aid, a distraction from fundamental reform. But I have seen so little progress on these issues that I now think we must make amends to those we have harmed. It’s time to erase the debts of those millions who borrowed modestly for their education but wound up in financial distress because of our disjointed loan system.

Loan forgiveness is not just warranted; it’s fair: Government policy did harm, and it is government policy that should work to reverse it.

This article is one of the few that references real data that shows that more of the loan burden is from people who went to community college, trade school, vocational school and in-state public schools than from expensive 4 year private schools.

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.nytimes.com/2022/08/30/opinion/student-loan-debt-relief-biden.html

interesting op-ed:

I once thought forgiveness to be an expensive Band-Aid, a distraction from fundamental reform. But I have seen so little progress on these issues that I now think we must make amends to those we have harmed. It’s time to erase the debts of those millions who borrowed modestly for their education but wound up in financial distress because of our disjointed loan system.

Loan forgiveness is not just warranted; it’s fair: Government policy did harm, and it is government policy that should work to reverse it.

This article is one of the few that references real data that shows that more of the loan burden is from people who went to community college, trade school, vocational school and in-state public schools than from expensive 4 year private schools.

That's why the Republican propaganda about blue collar workers being upset about this has fizzled out. They had no idea blue collar people had debt from CC and trade schools.

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.nytimes.com/2022/08/30/opinion/student-loan-debt-relief-biden.html

interesting op-ed:

I once thought forgiveness to be an expensive Band-Aid, a distraction from fundamental reform. But I have seen so little progress on these issues that I now think we must make amends to those we have harmed. It’s time to erase the debts of those millions who borrowed modestly for their education but wound up in financial distress because of our disjointed loan system.

Loan forgiveness is not just warranted; it’s fair: Government policy did harm, and it is government policy that should work to reverse it.

This article is one of the few that references real data that shows that more of the loan burden is from people who went to community college, trade school, vocational school and in-state public schools than from expensive 4 year private schools.

It's an OpEd, not an article.

Which explains why it gets creative with facts and has misled you.

Nope, this was not designed to help those people.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Canceling any debt is stupid. You borrowed, you pay.

I agree, we should eliminate bankruptcy and bring back debtors prisons. Maybe airline executives would do a better job with that incentive. Or are you only talking about 18 year old kids being forced to make life altering decisions?

Any means any

The problem is that the current system requires poor people to pay back all their debt while wealthy people and corporations (who carry WAY more debt) are often able to escape debt via lawyers and other legal mechanisms designed to help them discharge debt for less than they owe.

Student debt is unique in that it can't be discharged in bankruptcy. It's also unsecured debt -- it's not like you can sell the underlying education to pay off your loans the way you can with a house. We need a policy solution to the problem of ballooning student debt because it impacts the economy very negatively. It keeps people from buying homes (or even moving out of their parents homes into rentals), it is impacting the birth rate, it limits the ability of people to open businesses or invest. We need a longterm solution to student debt, and that probably includes some amount of debt forgiveness for people who are already buried in debt, followed by rule changes to prevent people from ever getting this deep in debt to begin with.

-- Signed, someone who paid off 80k in student loans myself and does not oppose debt forgiveness for others because it's a smart policy decision and is not actually about personal fairness to me

BEST ANSWER.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Canceling any debt is stupid. You borrowed, you pay.

I agree, we should eliminate bankruptcy and bring back debtors prisons. Maybe airline executives would do a better job with that incentive. Or are you only talking about 18 year old kids being forced to make life altering decisions?

Any means any

The problem is that the current system requires poor people to pay back all their debt while wealthy people and corporations (who carry WAY more debt) are often able to escape debt via lawyers and other legal mechanisms designed to help them discharge debt for less than they owe.

Student debt is unique in that it can't be discharged in bankruptcy. It's also unsecured debt -- it's not like you can sell the underlying education to pay off your loans the way you can with a house. We need a policy solution to the problem of ballooning student debt because it impacts the economy very negatively. It keeps people from buying homes (or even moving out of their parents homes into rentals), it is impacting the birth rate, it limits the ability of people to open businesses or invest. We need a longterm solution to student debt, and that probably includes some amount of debt forgiveness for people who are already buried in debt, followed by rule changes to prevent people from ever getting this deep in debt to begin with.

-- Signed, someone who paid off 80k in student loans myself and does not oppose debt forgiveness for others because it's a smart policy decision and is not actually about personal fairness to me

BEST ANSWER.

You can thank Obama/ Biden for that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://www.nytimes.com/2022/08/30/opinion/student-loan-debt-relief-biden.html

interesting op-ed:

I once thought forgiveness to be an expensive Band-Aid, a distraction from fundamental reform. But I have seen so little progress on these issues that I now think we must make amends to those we have harmed. It’s time to erase the debts of those millions who borrowed modestly for their education but wound up in financial distress because of our disjointed loan system.

Loan forgiveness is not just warranted; it’s fair: Government policy did harm, and it is government policy that should work to reverse it.

This article is one of the few that references real data that shows that more of the loan burden is from people who went to community college, trade school, vocational school and in-state public schools than from expensive 4 year private schools.

It's an OpEd, not an article.

Which explains why it gets creative with facts and has misled you.

Nope, this was not designed to help those people.

Nope--I've looked at the underlying data and this is correct.

[Anonymous]

Wait - after waiting 18 months for this announcement before the mid-terms, are people saying they are against buying votes?