Student loan forgiveness given new life

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Perhaps people are getting too emotional here
Young persons are supposed to go to college, all young people, not just the ones with a rich daddy


There is no other way forward for the nation. A new century is on your doorstep

That is the very mindset that got us where we are today. Not everyone needs to go to college. Not all occupations require a college degree. There are many jobs that pay quite a good income with no college needed.

And, many businesses are beginning to reconsider their education requirements.

https://www.cnbc.com/2022/04/25/companies-eliminate-college-degree-requirement-to-draw-needed-workers.html
https://www.wsj.com/articles/employers-rethink-need-for-college-degrees-in-tight-labor-market-11669432133

If I want to make real money, I need a college degree. If I want to be a home owner and live comfortably that requires a college education. I don’t want to live paycheck to paycheck in a crappy living situation. Life is very expensive. A college degree offers more stability, less risk of unemployment, less risk of downward mobility and financial stress. Yes, everyone doesn’t need a college degree but if you want a more economically stable life, it’s necessary.

You are assuming that everyone with college debt received a degree.

People borrow money to go to trade school to get their CDL to be a truck driver, to become a phlebotomist, to become an electronics technician, to become a diesel mechanic or HVAC technician, there are lots of things where it's not a 4 year degree but a 2 year degree or certificate program is expected if you want that job. We have an affordability problem with ALL higher education, and burdening people trying to start a life with excessive loans is just extra salt in the wound all around. And it's a disgrace that Republicans are apparently FINE with ALL of this.

This. It costs money to get almost every degree or job certification. Why don’t people get this?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Perhaps people are getting too emotional here
Young persons are supposed to go to college, all young people, not just the ones with a rich daddy


There is no other way forward for the nation. A new century is on your doorstep

No other way besides loans or a rich daddy? How about a part time job at Starbucks? They can earn money while working part time and get 100% tuition paid for. Let me guess- your kid doesn’t want to attend Arizona online or work part time. https://www.starbucks.com/careers/working-at-starbucks/education/

There are always other options besides taking out loans.

So your proposal is everyone work at Starbucks and attend Arizona online? Part-time work itself won't pay for even a fraction of a semester at most colleges.

Did you click on the link? If you work even part time, after approximately 3 months a benefit of employment is they cover 100% of tuition for a first time bachelor’s degree. This is in addition to the pay. Yeah, that’s my solution for those who can’t afford anything else. At least apply and try to get a job there. I know people who have and it’s real. They pay tuition.

Just for yuks: what is your plan for people who cannot physically work at a Starbucks?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden is at it again! A new student loan forgiveness plan was announced today. Some eligible borrowers have already received notification of their loan forgiveness.

https://www.cnn.com/2023/07/14/politics/student-loan-relief-biden-administration/index.html

Is there EVER a day he doesn’t get one over on the GOP’ers?!?! I’m loving this!!!!

Sick people.

Work. Pay your debts.

Why? Then it wouldn’t annoy you when Joe forgives the debt! This is sooooo much better lol!

He doesn't forgive debt. He transfers it to tax payers.

+1
I'm always astounded at the ignorance of people like the PP. What a complete moron.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden is at it again! A new student loan forgiveness plan was announced today. Some eligible borrowers have already received notification of their loan forgiveness.

https://www.cnn.com/2023/07/14/politics/student-loan-relief-biden-administration/index.html

Is there EVER a day he doesn’t get one over on the GOP’ers?!?! I’m loving this!!!!

Sick people.

Work. Pay your debts.

Why? Then it wouldn’t annoy you when Joe forgives the debt! This is sooooo much better lol!

He doesn't forgive debt. He transfers it to tax payers.

+1
I'm always astounded at the ignorance of people like the PP. What a complete moron.

umm... why is pp a moron?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden is at it again! A new student loan forgiveness plan was announced today. Some eligible borrowers have already received notification of their loan forgiveness.

https://www.cnn.com/2023/07/14/politics/student-loan-relief-biden-administration/index.html

Is there EVER a day he doesn’t get one over on the GOP’ers?!?! I’m loving this!!!!

Sick people.

Work. Pay your debts.

Why? Then it wouldn’t annoy you when Joe forgives the debt! This is sooooo much better lol!

He doesn't forgive debt. He transfers it to tax payers.

+1
I'm always astounded at the ignorance of people like the PP. What a complete moron.

It is inline with the terms of the original loan agreement. You’re the ignorant one, sir.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Loan forgiveness is going to continue driving college tuition up. I do not see this as a win. Why should colleges stop increases when the government will co to us to give a lot of free money away? There is no incentive to hold down costs or even improve the quality of education.

If that's why Republicans oppose loan forgiveness then why aren't they lobbying to drive tuition down, as opposed to sticking it to people still trying to get degrees?

They are.

https://thehill.com/homenews/education/4049576-senate-republicans-introduce-plan-to-tackle-student-loan-debt/#:~:text=The%20GOP%20package%2C%20called%20the,loans%20they%20can%27t%20afford.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden is at it again! A new student loan forgiveness plan was announced today. Some eligible borrowers have already received notification of their loan forgiveness.

https://www.cnn.com/2023/07/14/politics/student-loan-relief-biden-administration/index.html

Is there EVER a day he doesn’t get one over on the GOP’ers?!?! I’m loving this!!!!

Sick people.

Work. Pay your debts.

Hi hon! Maybe look into the thousands of people who work and attempt to pay off their debts only for the interest rates to mean they’re just in more debt. Cause you sound like a heartless fool.

Maybe you should have spent 5 minutes learning personal finance 101 on YouTube before taking out tens of thousands in loans? I know it is too much these days for people to spend 10 minutes on personal responsibility even though they have inordinate amounts of time to waste on Twitter, Insta, and TikTok.

The level of entitlement these days is absolutely disgusting. I truly believe we need a Great Depression 2 for the country in order to shed all of this weakness in our overly indulgent culture that's resulting in sickening entitlement mentality.

Pay your own damn bills.

They did pay their bills, for 25+ years but because of interest rates and lack of bankruptcy protection, they still have a balance with no end in sight. The income based repayment plans were always meant to last no longer than 20-30 years. And you are out a ton of money if you made income based payments for 25 years.

Omg.....you mean there is interest charged on a loan and an amortization schedule? Holy crap, welcome to the real world children.

We know, we know....adulting is hard. You paid the minimum like a moron and wonder why you're still paying 10 years later.

Truly amazing how people are getting to 40 years old these days and have the mindset of barely functional teenagers. This country is doomed.

If “adulting” means being a mean, cold stone-hearted jerk like you, then I would rather be a teenager indefinitely. And really what dooms this country are scorched earth capitalists like you who have no regard or empathy for anyone but themselves.

Adulting means delaying gratification to payoff your debts like I did. I paid off $80k in loans. I spent 10 minutes learning about finance 101, interest rates, and what it'd mean if I just paid the minimum every month. Because I was a responsible adult and not a dumbass, I paid extra every month on my loans. I used every single tax break and bonus on them. For years I forewent driving around in a nice car, I rarely bought new clothes, I hardly bought new cell phones, I didn't go on swanky trips, I didn't live in an stupidly expensive urban center, I didn't go out to happy hour and restaurants constantly with friends.....I delayed tons of gratification to pay off what I owed and what I agreed to payback. I knew it was stupid to pay the minimum because it'd tack on thousands in interest and add years of payments.

Maybe clown shows like you and the rest of the whiners would learn some good life lesson to learn how to live with less and minimalism. Shit, delayed gratification would do this country wonders during a time when everyone now thinks they're entitled to everything just because they exist and breathe air.

Quit buying crap you don't need, move to a low cost of living area, and delay your gratification. Once you finally learn financial discipline, use the difference to payoff your bills.


So sickof the rampant entitlement mentality these days. You aren't special, nor do you deserve anything simply because you exist.

+ a million

And, let's call this what it is..... It is not "forgiveness." It is a transference of debt to people who never took out loans.

Businesses transfer their burdens to me all the time. Why should they deduct their expenses and I can't deduct mine? I wouldn't be in my profession without my degree. I will pay the debt when I am allowed to expense it. Until then, go Joe!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Perhaps people are getting too emotional here
Young persons are supposed to go to college, all young people, not just the ones with a rich daddy


There is no other way forward for the nation. A new century is on your doorstep

No other way besides loans or a rich daddy? How about a part time job at Starbucks? They can earn money while working part time and get 100% tuition paid for. Let me guess- your kid doesn’t want to attend Arizona online or work part time. https://www.starbucks.com/careers/working-at-starbucks/education/

There are always other options besides taking out loans.

So your proposal is everyone work at Starbucks and attend Arizona online? Part-time work itself won't pay for even a fraction of a semester at most colleges.

Did you click on the link? If you work even part time, after approximately 3 months a benefit of employment is they cover 100% of tuition for a first time bachelor’s degree. This is in addition to the pay. Yeah, that’s my solution for those who can’t afford anything else. At least apply and try to get a job there. I know people who have and it’s real. They pay tuition.

Just for yuks: what is your plan for people who cannot physically work at a Starbucks?

Go to community college then transfer to a state or online public school, take out the minimal amount of loans they need and work to pay them back.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden is at it again! A new student loan forgiveness plan was announced today. Some eligible borrowers have already received notification of their loan forgiveness.

https://www.cnn.com/2023/07/14/politics/student-loan-relief-biden-administration/index.html

Is there EVER a day he doesn’t get one over on the GOP’ers?!?! I’m loving this!!!!

Sick people.

Work. Pay your debts.

Hi hon! Maybe look into the thousands of people who work and attempt to pay off their debts only for the interest rates to mean they’re just in more debt. Cause you sound like a heartless fool.

Maybe you should have spent 5 minutes learning personal finance 101 on YouTube before taking out tens of thousands in loans? I know it is too much these days for people to spend 10 minutes on personal responsibility even though they have inordinate amounts of time to waste on Twitter, Insta, and TikTok.

The level of entitlement these days is absolutely disgusting. I truly believe we need a Great Depression 2 for the country in order to shed all of this weakness in our overly indulgent culture that's resulting in sickening entitlement mentality.

Pay your own damn bills.

They did pay their bills, for 25+ years but because of interest rates and lack of bankruptcy protection, they still have a balance with no end in sight. The income based repayment plans were always meant to last no longer than 20-30 years. And you are out a ton of money if you made income based payments for 25 years.

Omg.....you mean there is interest charged on a loan and an amortization schedule? Holy crap, welcome to the real world children.

We know, we know....adulting is hard. You paid the minimum like a moron and wonder why you're still paying 10 years later.

Truly amazing how people are getting to 40 years old these days and have the mindset of barely functional teenagers. This country is doomed.

If “adulting” means being a mean, cold stone-hearted jerk like you, then I would rather be a teenager indefinitely. And really what dooms this country are scorched earth capitalists like you who have no regard or empathy for anyone but themselves.

Adulting means delaying gratification to payoff your debts like I did. I paid off $80k in loans. I spent 10 minutes learning about finance 101, interest rates, and what it'd mean if I just paid the minimum every month. Because I was a responsible adult and not a dumbass, I paid extra every month on my loans. I used every single tax break and bonus on them. For years I forewent driving around in a nice car, I rarely bought new clothes, I hardly bought new cell phones, I didn't go on swanky trips, I didn't live in an stupidly expensive urban center, I didn't go out to happy hour and restaurants constantly with friends.....I delayed tons of gratification to pay off what I owed and what I agreed to payback. I knew it was stupid to pay the minimum because it'd tack on thousands in interest and add years of payments.

Maybe clown shows like you and the rest of the whiners would learn some good life lesson to learn how to live with less and minimalism. Shit, delayed gratification would do this country wonders during a time when everyone now thinks they're entitled to everything just because they exist and breathe air.

Quit buying crap you don't need, move to a low cost of living area, and delay your gratification. Once you finally learn financial discipline, use the difference to payoff your bills.


So sickof the rampant entitlement mentality these days. You aren't special, nor do you deserve anything simply because you exist.

+ a million

And, let's call this what it is..... It is not "forgiveness." It is a transference of debt to people who never took out loans.

Businesses transfer their burdens to me all the time. Why should they deduct their expenses and I can't deduct mine? I wouldn't be in my profession without my degree. I will pay the debt when I am allowed to expense it. Until then, go Joe!

There are a plethora of deductions allowed by law.
This is not a "deduction." It is a transference of debt to people who didn't assume the loan.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden is at it again! A new student loan forgiveness plan was announced today. Some eligible borrowers have already received notification of their loan forgiveness.

https://www.cnn.com/2023/07/14/politics/student-loan-relief-biden-administration/index.html

Is there EVER a day he doesn’t get one over on the GOP’ers?!?! I’m loving this!!!!

Sick people.

Work. Pay your debts.

Hi hon! Maybe look into the thousands of people who work and attempt to pay off their debts only for the interest rates to mean they’re just in more debt. Cause you sound like a heartless fool.

Maybe you should have spent 5 minutes learning personal finance 101 on YouTube before taking out tens of thousands in loans? I know it is too much these days for people to spend 10 minutes on personal responsibility even though they have inordinate amounts of time to waste on Twitter, Insta, and TikTok.

The level of entitlement these days is absolutely disgusting. I truly believe we need a Great Depression 2 for the country in order to shed all of this weakness in our overly indulgent culture that's resulting in sickening entitlement mentality.

Pay your own damn bills.

They did pay their bills, for 25+ years but because of interest rates and lack of bankruptcy protection, they still have a balance with no end in sight. The income based repayment plans were always meant to last no longer than 20-30 years. And you are out a ton of money if you made income based payments for 25 years.

Omg.....you mean there is interest charged on a loan and an amortization schedule? Holy crap, welcome to the real world children.

We know, we know....adulting is hard. You paid the minimum like a moron and wonder why you're still paying 10 years later.

Truly amazing how people are getting to 40 years old these days and have the mindset of barely functional teenagers. This country is doomed.

If “adulting” means being a mean, cold stone-hearted jerk like you, then I would rather be a teenager indefinitely. And really what dooms this country are scorched earth capitalists like you who have no regard or empathy for anyone but themselves.

Adulting means delaying gratification to payoff your debts like I did. I paid off $80k in loans. I spent 10 minutes learning about finance 101, interest rates, and what it'd mean if I just paid the minimum every month. Because I was a responsible adult and not a dumbass, I paid extra every month on my loans. I used every single tax break and bonus on them. For years I forewent driving around in a nice car, I rarely bought new clothes, I hardly bought new cell phones, I didn't go on swanky trips, I didn't live in an stupidly expensive urban center, I didn't go out to happy hour and restaurants constantly with friends.....I delayed tons of gratification to pay off what I owed and what I agreed to payback. I knew it was stupid to pay the minimum because it'd tack on thousands in interest and add years of payments.

Maybe clown shows like you and the rest of the whiners would learn some good life lesson to learn how to live with less and minimalism. Shit, delayed gratification would do this country wonders during a time when everyone now thinks they're entitled to everything just because they exist and breathe air.

Quit buying crap you don't need, move to a low cost of living area, and delay your gratification. Once you finally learn financial discipline, use the difference to payoff your bills.


So sickof the rampant entitlement mentality these days. You aren't special, nor do you deserve anything simply because you exist.

+ a million

And, let's call this what it is..... It is not "forgiveness." It is a transference of debt to people who never took out loans.

Businesses transfer their burdens to me all the time. Why should they deduct their expenses and I can't deduct mine? I wouldn't be in my profession without my degree. I will pay the debt when I am allowed to expense it. Until then, go Joe!

There are a plethora of deductions allowed by law.
This is not a "deduction." It is a transference of debt to people who didn't assume the loan.

Well it was set up like this!! :roll: :twisted: The terms of the student loan agreement allows for discharge after 20-25 years of repayment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden is at it again! A new student loan forgiveness plan was announced today. Some eligible borrowers have already received notification of their loan forgiveness.

https://www.cnn.com/2023/07/14/politics/student-loan-relief-biden-administration/index.html

Is there EVER a day he doesn’t get one over on the GOP’ers?!?! I’m loving this!!!!

Sick people.

Work. Pay your debts.

Hi hon! Maybe look into the thousands of people who work and attempt to pay off their debts only for the interest rates to mean they’re just in more debt. Cause you sound like a heartless fool.

Maybe you should have spent 5 minutes learning personal finance 101 on YouTube before taking out tens of thousands in loans? I know it is too much these days for people to spend 10 minutes on personal responsibility even though they have inordinate amounts of time to waste on Twitter, Insta, and TikTok.

The level of entitlement these days is absolutely disgusting. I truly believe we need a Great Depression 2 for the country in order to shed all of this weakness in our overly indulgent culture that's resulting in sickening entitlement mentality.

Pay your own damn bills.

They did pay their bills, for 25+ years but because of interest rates and lack of bankruptcy protection, they still have a balance with no end in sight. The income based repayment plans were always meant to last no longer than 20-30 years. And you are out a ton of money if you made income based payments for 25 years.

Omg.....you mean there is interest charged on a loan and an amortization schedule? Holy crap, welcome to the real world children.

We know, we know....adulting is hard. You paid the minimum like a moron and wonder why you're still paying 10 years later.

Truly amazing how people are getting to 40 years old these days and have the mindset of barely functional teenagers. This country is doomed.

If “adulting” means being a mean, cold stone-hearted jerk like you, then I would rather be a teenager indefinitely. And really what dooms this country are scorched earth capitalists like you who have no regard or empathy for anyone but themselves.

Adulting means delaying gratification to payoff your debts like I did. I paid off $80k in loans. I spent 10 minutes learning about finance 101, interest rates, and what it'd mean if I just paid the minimum every month. Because I was a responsible adult and not a dumbass, I paid extra every month on my loans. I used every single tax break and bonus on them. For years I forewent driving around in a nice car, I rarely bought new clothes, I hardly bought new cell phones, I didn't go on swanky trips, I didn't live in an stupidly expensive urban center, I didn't go out to happy hour and restaurants constantly with friends.....I delayed tons of gratification to pay off what I owed and what I agreed to payback. I knew it was stupid to pay the minimum because it'd tack on thousands in interest and add years of payments.

Maybe clown shows like you and the rest of the whiners would learn some good life lesson to learn how to live with less and minimalism. Shit, delayed gratification would do this country wonders during a time when everyone now thinks they're entitled to everything just because they exist and breathe air.

Quit buying crap you don't need, move to a low cost of living area, and delay your gratification. Once you finally learn financial discipline, use the difference to payoff your bills.


So sickof the rampant entitlement mentality these days. You aren't special, nor do you deserve anything simply because you exist.

+ a million

And, let's call this what it is..... It is not "forgiveness." It is a transference of debt to people who never took out loans.

Businesses transfer their burdens to me all the time. Why should they deduct their expenses and I can't deduct mine? I wouldn't be in my profession without my degree. I will pay the debt when I am allowed to expense it. Until then, go Joe!

There are a plethora of deductions allowed by law.
This is not a "deduction." It is a transference of debt to people who didn't assume the loan.

Where is the expense deduction for tuition for medical school, law school, pharmacy school etc? These people cannot practice without the degrees they have.
Such a deduction would wipe away quite a bit of the debt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden is at it again! A new student loan forgiveness plan was announced today. Some eligible borrowers have already received notification of their loan forgiveness.

https://www.cnn.com/2023/07/14/politics/student-loan-relief-biden-administration/index.html

Is there EVER a day he doesn’t get one over on the GOP’ers?!?! I’m loving this!!!!

Sick people.

Work. Pay your debts.

Why? Then it wouldn’t annoy you when Joe forgives the debt! This is sooooo much better lol!

He doesn't forgive debt. He transfers it to tax payers.

+1
I'm always astounded at the ignorance of people like the PP. What a complete moron.

+2

[Anonymous]

You can earn over $100k doing a job as a truck driver, crane operator, in many of the trades. None of those require an overpriced and worthless college degree. So many people end up in administrative fields that never require a college degree to get the job done. Does anyone need a college degree to be an admin, a project manager, event coordinator, etc. etc.? Not really. Corporate America needs to do completely away with worthless degree requirements for tons of jobs.

[Anonymous]

I think a good solution is to go easier on borrowers who are earlier on in their careers and then get tougher on borrowers five years in. Here's what I mean:

When you take out the loan, you have to pay it back, and in a reasonable period of time with reasonable interest. The problem with income-driven-repayments is that the interest accrues so much on the minimum payment that you NEVER pay it back, even when you start making six figures.

The solution would be to have an interest grace period for five years and automatic income driven repayment, just for those five years. This way, when graduates are early in their careers in entry-level jobs, they can faithfully make payments without the interest blowing the balance way out of reach.

After five years, you are automatically transferred to a standard, 10-year-plan with a fixed interest rate at something reasonable, like 2-3%. Certainly not over 5%. This way, the entire balance is paid off in 15 years total. I think this is fair and balanced.

Let's say you take out a loan for $100K to get an advanced degree. You are optimistic about your career prospects, but it's a long road ahead of you. You might graduate during a recession, or your dream job might take a few years of clawing up. Your entry level salary is around $70K and you have to be a grunt for a few years. So you scrimp and save while paying a manageable percentage of your income towards your student loan, and see a little bit of a dent made in the balance, instead of the balance going up because of interest.

Five years later, you establish yourself in your career and you are making $120K. You can now make full payments and pay off the loan in full, because you have $85K left to pay. It hasn't ballooned to $150K over the five years of making minimum payments as an underpaid grunt.

This is fair. This is reasonable. This is responsible.

[Anonymous]

Anonymous wrote:You can earn over $100k doing a job as a truck driver, crane operator, in many of the trades. None of those require an overpriced and worthless college degree. So many people end up in administrative fields that never require a college degree to get the job done. Does anyone need a college degree to be an admin, a project manager, event coordinator, etc. etc.? Not really. Corporate America needs to do completely away with worthless degree requirements for tons of jobs.

Those jobs aren’t really open to women. Additionally, many men don’t want to do those careers.

Everyone required a degree when there were ample works because it was a way to weed out some applicants. Once the boomers start retiring and labor is scarce, they will lower the bar to entry into professions because they don’t need that initial weed out mechanism.