Student Loans Forgiven!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Rather than a 10-20 year waiting period for forgiveness, there should be a 10-20 year waiting period to allow the loans to be discharged in bankruptcy.

If you *actually* can’t pay after a decade or two there is still an “out”, but if you’re gaming the system and simply choose not to pay you’re going to be held accountable somewhat rather than simply rewarded.

It's not "gaming the system" to follow the rules and participate in a program that is working as intended.

It most certainly IS if you have the financial capability to pay and you simply choose not to because you have shoehorned yourself into a program that was clearly intended for those folks who do a job that contributes to society but doesn’t actually pay very much.

In other words, just because something is legal doesn’t mean it is ethical.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://www.thegatewaypundit.com/2023/10/democrat-activist-successful-writer-thanks-joe-biden-kamala/

So we reward the trash degrees?

Who reads the Gateway pundit for news. And who are you to decide which degrees are worthy?

If you can't pay back your degree with the salary from it , it's trash

I grew up poor, in Appalachia, where people who didn’t really understand the situation and were not financially intelligent encouraged me to reject the full-ride state school scholarship in favor of taking out loans to attend the prestigious school everyone was so surprised I got into. Everyone in my life who cared about me advised me to do it, and I did. Years later, I am still paying back my high-interest loans. I don’t qualify for any forgiveness.

A lot of you who are looking down on those who took out loans for “useless degrees” don’t understand that some people did not have college-educated families to advise us as people in your social class clearly do. You don’t understand what it means to grow up in a poor town in the middle of nowhere where none of the adults in your life are financially intelligent enough to give you good advice, and who, many times, give you bad advice that is going to derail you financially for many years into the future. A lot of poor and minority kids were and are told by people they trust that doing whatever it takes to go to a “good” college will “pay for itself eventually.”

Have some compassion. A lot of the good financial decisions you made were due to having people in your life give you the right advice.

This may have held water 30 years ago, but everyone has access to the internet now, so there is zero excuse not to educate yourself about how this works. People have been whining about the cost of college and the burden of student loans for at least 20 years, so it’s not like this is some closely guarded secret.

[Anonymous]

Anonymous wrote:Not worse than Trump who sent out checks to everyone during the pandemic. Even my French cousin, who was born in the States but lived all her life in Europe, got a check! I think she hung it up on her wall

Not everyone. DH and I have both lived and worked in the US all our lives and didn’t get checks because our income is too high.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Rather than a 10-20 year waiting period for forgiveness, there should be a 10-20 year waiting period to allow the loans to be discharged in bankruptcy.

If you *actually* can’t pay after a decade or two there is still an “out”, but if you’re gaming the system and simply choose not to pay you’re going to be held accountable somewhat rather than simply rewarded.

It's not "gaming the system" to follow the rules and participate in a program that is working as intended.

It most certainly IS if you have the financial capability to pay and you simply choose not to because you have shoehorned yourself into a program that was clearly intended for those folks who do a job that contributes to society but doesn’t actually pay very much.

In other words, just because something is legal doesn’t mean it is ethical.

Are you talking about PSLF? If they had wanted to put income limits on the program, they would have. If a person qualifies for the program they haven't "shoehorned" their way into it just because you in your infinite wisdom have decided it's unethical for them to participate. It's no more unethical than rish people taking tax deductions.

[Anonymous]

No issues with Public Service Loan Forgiveness for certain professions. We are bleeding nurses and teachers. Should also include covering any education costs for training frontline workers like police, fire fighters, etc.

[Anonymous]

Anonymous wrote:No issues with Public Service Loan Forgiveness for certain professions. We are bleeding nurses and teachers. Should also include covering any education costs for training frontline workers like police, fire fighters, etc.

It's a different proposition to forgive loans in certain professions to incentivize people to fill the need for the public good, i.e. nurses, teachers, police, and firefighters. I would support that, but that's not what OP is sticking us with the bill for.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No issues with Public Service Loan Forgiveness for certain professions. We are bleeding nurses and teachers. Should also include covering any education costs for training frontline workers like police, fire fighters, etc.

It's a different proposition to forgive loans in certain professions to incentivize people to fill the need for the public good, i.e. nurses, teachers, police, and firefighters. I would support that, but that's not what OP is sticking us with the bill for.

OP made payments for 20 years, probably mostly interest.

[Anonymous]

Anonymous wrote:No issues with Public Service Loan Forgiveness for certain professions. We are bleeding nurses and teachers. Should also include covering any education costs for training frontline workers like police, fire fighters, etc.

You don't get to decide who is eligible for forgiveness. I don't like all the deductions in our tax code but I don't waste energy saying people who take them are behaving unethically. This reeks of rules for thee but not for me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No issues with Public Service Loan Forgiveness for certain professions. We are bleeding nurses and teachers. Should also include covering any education costs for training frontline workers like police, fire fighters, etc.

It's a different proposition to forgive loans in certain professions to incentivize people to fill the need for the public good, i.e. nurses, teachers, police, and firefighters. I would support that, but that's not what OP is sticking us with the bill for.

OP made payments for 20 years, probably mostly interest.

Why should we pay the principle for her loans?

[Anonymous]

Anonymous wrote:

Anonymous wrote:No issues with Public Service Loan Forgiveness for certain professions. We are bleeding nurses and teachers. Should also include covering any education costs for training frontline workers like police, fire fighters, etc.

You don't get to decide who is eligible for forgiveness. I don't like all the deductions in our tax code but I don't waste energy saying people who take them are behaving unethically. This reeks of rules for thee but not for me.

-1 This isn't part of the tax code that anyone can see and factor into their decisions. Biden's student loan forgiveness is changing the rules years after the game is over. People might have made different decisions if they knew their loans would one day be forgiven.

Plus our policies are supposed to incentivize the behavior that's best for society. For example, home buying credits for teachers and law enforcement because society needs more people in these fields. The taxpayers paying off OP's student loans isn't some huge benefit for society.

[Anonymous]

It is costly to the everyday tax payers.

[Anonymous]

Why should we pay off the OP's loans?

[Anonymous]

Anonymous wrote:Why should we pay off the OP's loans?

This exactly. I have two adults kids who are struggling to pay off their college loans. why am i paying so someone get a feebie?

[Anonymous]

Anonymous wrote:

Anonymous wrote:You suck OP. I lived frugally and took jobs that I didn’t want until I paid off 100% of my loans. Because that’s what a responsible person would do.

For legally participating in a program that the government has provided? If you don’t like student loan forgiveness, vote against politicians that propose it.

I for example don’t like tax cuts for the wealthy. I don’t expect wealthy individuals to voluntarily fork over money they aren’t required to pay, I vote for candidates that want to raise their taxes.

Correction -- you voted for candidates that like "some" tax cuts for the wealthy. Like SALT. And student loan forgiveness with no tax liability. So, basically they only like tax cuts that benefit wealthy people in their blue districts/states. So, you don't win any nobility prizes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No issues with Public Service Loan Forgiveness for certain professions. We are bleeding nurses and teachers. Should also include covering any education costs for training frontline workers like police, fire fighters, etc.

You don't get to decide who is eligible for forgiveness. I don't like all the deductions in our tax code but I don't waste energy saying people who take them are behaving unethically. This reeks of rules for thee but not for me.

-1 This isn't part of the tax code that anyone can see and factor into their decisions. Biden's student loan forgiveness is changing the rules years after the game is over. People might have made different decisions if they knew their loans would one day be forgiven.

Plus our policies are supposed to incentivize the behavior that's best for society. For example, home buying credits for teachers and law enforcement because society needs more people in these fields. The taxpayers paying off OP's student loans isn't some huge benefit for society.

-1 Biden didn't create IBR forgiveness but he is finally implementing it the way it was intended.

Educate yourself. https://www.gao.gov/products/gao-22-103720