SCOTUS on Student Loan 9 - 0

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You mean I don’t have to pay for some millennial’s Masters degree in sustainability? Thank you SC!

They aren't going to pay it anyway. They'll just lower their credit score and delay entrance into the housing market for that much longer. Possibly delay having kids, which will ultimately reduce the number of workers in the economy and lower your standard of living in retirement.

Sounds like a feedback loop that needs to be eliminated by not allowing this loan situation to happen in the first place. Crazy that thought.

This correction is happening naturally, as Gen Z and A realizes that a college degree can have poor ROI, as college admissions become increasingly random, and as agencies and companies are finally removing degree requirements for some jobs.

But some unlucky people are caught in the middle, stuck with useless debt and/or bad credit. Too bad for them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

Take your concerns up with Obama. That all started under his "genius" plan.

Interesting…. because I went to grad school when Bush was president so, I’m not sure what Obama started that impacts me here.

Did you take a private loan?

There was a small portion that was private and those were quickly paid off. The overwhelming majority of my loans were FFELP which if they were still intact would have been already removed from forgiveness last fall.

I’m just pointing out that this pay for what you owe bullsh*t argument ignored compounding annual interest that turned my loan into an 80% interest rate instead of 6.25% I signed on for.

Your argument is with compounding annual interest??? Every product you buy on credit is subject to compounding annual interest.

Seriously?
Buying a TV is different than getting an education.

I’m talking about buying a house or a car to get to a job. If loans on those (necessities) charge compounding annual interest, why wouldn’t a loan for college?

[Anonymous]

This one I do not care about. I think there are serious problem with the college loan program. The program has greatly increased the cost of college. The interest rates charge do not reflect the risk of the loan given the exceptions from bankruptcy, etc.

Forgiving student loans does not address these problems at all.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You mean I don’t have to pay for some millennial’s Masters degree in sustainability? Thank you SC!

They aren't going to pay it anyway. They'll just lower their credit score and delay entrance into the housing market for that much longer. Possibly delay having kids, which will ultimately reduce the number of workers in the economy and lower your standard of living in retirement.

Sounds like a feedback loop that needs to be eliminated by not allowing this loan situation to happen in the first place. Crazy that thought.

This correction is happening naturally, as Gen Z and A realizes that a college degree can have poor ROI, as college admissions become increasingly random, and as agencies and companies are finally removing degree requirements for some jobs.

But some unlucky people are caught in the middle, stuck with useless debt and/or bad credit. Too bad for them.

Unless you think everyone is suddenly rich, the explosion of applications to elite and very expensive colleges proves your assertion wrong

[Anonymous]

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

+ a million
Louder for the dolts in the back who fully expect others to pay their debts.

[Anonymous]

Anonymous wrote:This one I do not care about. I think there are serious problem with the college loan program. The program has greatly increased the cost of college. The interest rates charge do not reflect the risk of the loan given the exceptions from bankruptcy, etc.

Forgiving student loans does not address these problems at all.

This was about stafford loans. How is a freshman with a $5,500 loan responsible for a school changing 80k a year?

[Anonymous]

Anonymous wrote:

Anonymous wrote:You mean I don’t have to pay for some millennial’s Masters degree in sustainability? Thank you SC!

They aren't going to pay it anyway. They'll just lower their credit score and delay entrance into the housing market for that much longer. Possibly delay having kids, which will ultimately reduce the number of workers in the economy and lower your standard of living in retirement.

This one will be in soaking wet diapers for days.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:Republicans don’t like student loan forgiveness so the republicans on the Supreme Court struck it down. Just more partisan decisions. Nothing surprising.

No. Republicans have said all along that what Biden did was unConstitutional. Even Pelosi said the same (before she jumped on board the unConstitutional band wagon).
We just knew that is was executive overreach. Just like the rent moratorium.

These kinds of things need to go through Congress. He cannot unilaterally make such moves. Especially when it involves billions, if not trillions, of tax payer dollars.

It did go through congress. The Heroes Act was passed by congress. But scotus made up a new rule a couple years ago called the major questions doctrine so that it can ignore laws it doesn’t like.

The HEROES Doctrine does not apply to Biden's overreach.

Read it. It does.

Well, you're not getting your loan forgiven.

That's your best response? FWIW, no, I'm not getting my loan forgiven because I already paid it off. That doesn't change the language of the HEROES Act, though, one way or the other.

Same here. Paid mine off 15 years ago. I also don’t really like the debt forgiveness plan. But I am appalled at the republican justices continued power grabs.

Power grabs?

The public - and some of our elected officials - have become accustomed to judges and SCOTUS legislating from the bench. It is quite something that Congress is OK with the president using executive action for things that require legislation. They seem more than happy to allow SCOTUS to take away their role.
The role of SCOTUS is to determine what is Constitutional and what is not. It is NOT their role to write laws. They have acted appropriately. "Activism" would be making a law to satisfy activists.

Exactly this. The only people upset about this ruling are activists. They didn’t get their way and now they’ll throw their usual tantrums.

[Anonymous]

Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
You mean I don’t have to pay for some millennial’s Masters degree in sustainability? Thank you SC!


They aren't going to pay it anyway. They'll just lower their credit score and delay entrance into the housing market for that much longer. Possibly delay having kids, which will ultimately reduce the number of workers in the economy and lower your standard of living in retirement.


Sounds like a feedback loop that needs to be eliminated by not allowing this loan situation to happen in the first place. Crazy that thought.


This correction is happening naturally, as Gen Z and A realizes that a college degree can have poor ROI, as college admissions become increasingly random, and as agencies and companies are finally removing degree requirements for some jobs.

But some unlucky people are caught in the middle, stuck with useless debt and/or bad credit. Too bad for them.


Unless you think everyone is suddenly rich, the explosion of applications to elite and very expensive colleges proves your assertion wrong

There is an explosion there because those college degrees pay off. I doubt many people who went to Harvard or Yale are having problems paying off their student loans.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

+ a million
Louder for the dolts in the back who fully expect others to pay their debts.

The government is the lender.

[Anonymous]

Due to actions today, we won't see anymore ridiculous cases... I'm sure this man asking Pocahontas for his money back would be on the docket in future SCOTUS sessions.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
You mean I don’t have to pay for some millennial’s Masters degree in sustainability? Thank you SC!


They aren't going to pay it anyway. They'll just lower their credit score and delay entrance into the housing market for that much longer. Possibly delay having kids, which will ultimately reduce the number of workers in the economy and lower your standard of living in retirement.


Sounds like a feedback loop that needs to be eliminated by not allowing this loan situation to happen in the first place. Crazy that thought.


This correction is happening naturally, as Gen Z and A realizes that a college degree can have poor ROI, as college admissions become increasingly random, and as agencies and companies are finally removing degree requirements for some jobs.

But some unlucky people are caught in the middle, stuck with useless debt and/or bad credit. Too bad for them.


Unless you think everyone is suddenly rich, the explosion of applications to elite and very expensive colleges proves your assertion wrong

There is an explosion there because those college degrees pay off. I doubt many people who went to Harvard or Yale are having problems paying off their student loans.

So your solution is for everyone to attend Yale and Harvard???

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

Take your concerns up with Obama. That all started under his "genius" plan.

Interesting…. because I went to grad school when Bush was president so, I’m not sure what Obama started that impacts me here.

Did you take a private loan?

There was a small portion that was private and those were quickly paid off. The overwhelming majority of my loans were FFELP which if they were still intact would have been already removed from forgiveness last fall.

I’m just pointing out that this pay for what you owe bullsh*t argument ignored compounding annual interest that turned my loan into an 80% interest rate instead of 6.25% I signed on for.

Your argument is with compounding annual interest??? Every product you buy on credit is subject to compounding annual interest.

Seriously?
Buying a TV is different than getting an education.

I’m talking about buying a house or a car to get to a job. If loans on those (necessities) charge compounding annual interest, why wouldn’t a loan for college?

Truly, neither a house or a car are necessities.
Shelter comes in many forms - 115 million Americans were renters in 2021 - and access to public transportation or walkability. All avoid compounding loans.

Additionally, home ownership comes with many advantageous tax benefits for the owner(s) including the ability to write off the interest payments, well well in excess of the same ability to do so with student loans.

[Anonymous]

Anonymous wrote:You mean I don’t have to pay for some millennial’s Masters degree in sustainability? Thank you SC!

They will get government jobs and the government will pay off their loans.

https://www.opm.gov/policy-data-oversight/pay-leave/student-loan-repayment/

[Anonymous]

Attacking people with student loans misses the point. US Colleges and Universities are sitting on roughly $1T in endowments, almost all of which has been accumulated over the last 40-50 years…while student loan debt has accumulated at a shockingly similar rate. They keep the donations and gifts in the war chest and keep hiking tuition.

Harvard has over $50B in its endowment. They have more assets than many Fortune 500 companies. Kroger is #17 in the Fortune 500 and has $49B in assets.