What is going on with student loans?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:While I do vote D, I hate this move on so manny levels, as it seems to be nothing but a shameless vote grab. It pisses of anyone who paid for college with savings, or paid off their loans, it costs the taxpayers (of which that first pissed off portion are part), and it pushes tuition costs higher, which costs future college students (and their parents.)

There is a version of this that can serve the public interest, where loans are forgiven if you went into teaching (and commit to an X number of more years), for example. Or medical school loans for going in an underserved area/undesirable speciality. But even that variety is better served by helping out with tuition upfront and requiring repayment, rather than loans.

I paid off my own loans and have no problem with this student loan debt relief. Perhaps you should own your own views instead of trying to attribute them to everyone.

So you have no problem plunging our country deeper into debt for superficial loan forgiveness that does nothing to alleviate the actual problem? Are you in your early 20s? You sound like someone who hasn't paid taxes for very long.

It will stimulate the economy unlike the PPP loan forgiveness or like when we bailed out banks

Sure it will.

And, for those of you drawing a false equivalence between PPP loans and this debt transfer......

I vaguely remember Congress passing the PPP loans.
This action is being done unilaterally by the president and it is doubtful he has the authority to do so.

Not doubtful. There's no major question about it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:While I do vote D, I hate this move on so manny levels, as it seems to be nothing but a shameless vote grab. It pisses of anyone who paid for college with savings, or paid off their loans, it costs the taxpayers (of which that first pissed off portion are part), and it pushes tuition costs higher, which costs future college students (and their parents.)

There is a version of this that can serve the public interest, where loans are forgiven if you went into teaching (and commit to an X number of more years), for example. Or medical school loans for going in an underserved area/undesirable speciality. But even that variety is better served by helping out with tuition upfront and requiring repayment, rather than loans.

I paid off my own loans and have no problem with this student loan debt relief. Perhaps you should own your own views instead of trying to attribute them to everyone.

So you have no problem plunging our country deeper into debt for superficial loan forgiveness that does nothing to alleviate the actual problem? Are you in your early 20s? You sound like someone who hasn't paid taxes for very long.

It will stimulate the economy unlike the PPP loan forgiveness or like when we bailed out banks

Sure it will.

And, for those of you drawing a false equivalence between PPP loans and this debt transfer......

I vaguely remember Congress passing the PPP loans.
This action is being done unilaterally by the president and it is doubtful he has the authority to do so.

Not doubtful. There's no major question about it.

I agree. He doe NOT have the authority to do this.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:While I do vote D, I hate this move on so manny levels, as it seems to be nothing but a shameless vote grab. It pisses of anyone who paid for college with savings, or paid off their loans, it costs the taxpayers (of which that first pissed off portion are part), and it pushes tuition costs higher, which costs future college students (and their parents.)

There is a version of this that can serve the public interest, where loans are forgiven if you went into teaching (and commit to an X number of more years), for example. Or medical school loans for going in an underserved area/undesirable speciality. But even that variety is better served by helping out with tuition upfront and requiring repayment, rather than loans.

I paid off my own loans and have no problem with this student loan debt relief. Perhaps you should own your own views instead of trying to attribute them to everyone.

So you have no problem plunging our country deeper into debt for superficial loan forgiveness that does nothing to alleviate the actual problem? Are you in your early 20s? You sound like someone who hasn't paid taxes for very long.

It will stimulate the economy unlike the PPP loan forgiveness or like when we bailed out banks

Sure it will.

And, for those of you drawing a false equivalence between PPP loans and this debt transfer......

I vaguely remember Congress passing the PPP loans.
This action is being done unilaterally by the president and it is doubtful he has the authority to do so.

Not doubtful. There's no major question about it.

I agree. He doe NOT have the authority to do this.

Of course he does. Good idea or not, this is an emergency power.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:While I do vote D, I hate this move on so manny levels, as it seems to be nothing but a shameless vote grab. It pisses of anyone who paid for college with savings, or paid off their loans, it costs the taxpayers (of which that first pissed off portion are part), and it pushes tuition costs higher, which costs future college students (and their parents.)

There is a version of this that can serve the public interest, where loans are forgiven if you went into teaching (and commit to an X number of more years), for example. Or medical school loans for going in an underserved area/undesirable speciality. But even that variety is better served by helping out with tuition upfront and requiring repayment, rather than loans.

I paid off my own loans and have no problem with this student loan debt relief. Perhaps you should own your own views instead of trying to attribute them to everyone.

So you have no problem plunging our country deeper into debt for superficial loan forgiveness that does nothing to alleviate the actual problem? Are you in your early 20s? You sound like someone who hasn't paid taxes for very long.

I am a 1%er in my 40s and have been paying taxes for a couple of decades. Any another baseless assumptions you would like to make to try to justify your views?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:While I do vote D, I hate this move on so manny levels, as it seems to be nothing but a shameless vote grab. It pisses of anyone who paid for college with savings, or paid off their loans, it costs the taxpayers (of which that first pissed off portion are part), and it pushes tuition costs higher, which costs future college students (and their parents.)

There is a version of this that can serve the public interest, where loans are forgiven if you went into teaching (and commit to an X number of more years), for example. Or medical school loans for going in an underserved area/undesirable speciality. But even that variety is better served by helping out with tuition upfront and requiring repayment, rather than loans.

I paid off my own loans and have no problem with this student loan debt relief. Perhaps you should own your own views instead of trying to attribute them to everyone.

So you have no problem plunging our country deeper into debt for superficial loan forgiveness that does nothing to alleviate the actual problem? Are you in your early 20s? You sound like someone who hasn't paid taxes for very long.

I am a 1%er in my 40s and have been paying taxes for a couple of decades. Any another baseless assumptions you would like to make to try to justify your views?

DP
That explains it.
1%ers won't feel the inflationary effects and tax implication of this action like the middle and lower class.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:While I do vote D, I hate this move on so manny levels, as it seems to be nothing but a shameless vote grab. It pisses of anyone who paid for college with savings, or paid off their loans, it costs the taxpayers (of which that first pissed off portion are part), and it pushes tuition costs higher, which costs future college students (and their parents.)

There is a version of this that can serve the public interest, where loans are forgiven if you went into teaching (and commit to an X number of more years), for example. Or medical school loans for going in an underserved area/undesirable speciality. But even that variety is better served by helping out with tuition upfront and requiring repayment, rather than loans.

I paid off my own loans and have no problem with this student loan debt relief. Perhaps you should own your own views instead of trying to attribute them to everyone.

So you have no problem plunging our country deeper into debt for superficial loan forgiveness that does nothing to alleviate the actual problem? Are you in your early 20s? You sound like someone who hasn't paid taxes for very long.

I am a 1%er in my 40s and have been paying taxes for a couple of decades. Any another baseless assumptions you would like to make to try to justify your views?

DP
That explains it.
1%ers won't feel the inflationary effects and tax implication of this action like the middle and lower class.

LOL, you don’t understand either of those things.

[Anonymous]

I'm sure the Democratic base loves this, but presumably most Democrats are going to vote for Biden anyways.

This will, however, turn off a lot of Independents who Democrats and Biden desperately need right now.

[Anonymous]

Anonymous wrote:I'm sure the Democratic base loves this, but presumably most Democrats are going to vote for Biden anyways.

This will, however, turn off a lot of Independents who Democrats and Biden desperately need right now.

Speaking as an independent, I don't love this or hate it.

What I'll be voting for is abortion. Like so many others.

[Anonymous]

Ha, so much for Biden's 'inflation reduction' plan. This will cost the govt nearly $300B, which basically cancels out any deficit reduction of the so called Inflation Reduction Act. That means Biden's legislation 2 weeks ago will be purely inflationary.

What a joke.

[Anonymous]

Kudos to Biden for having the cahones to do this. Let's go Dems!

[Anonymous]

Is this a one time event? That is, if my freshman kid takes out a loan this year, will it be forgiven, since the loan is in his name?

[Anonymous]

Anonymous wrote:Ha, so much for Biden's 'inflation reduction' plan. This will cost the govt nearly $300B, which basically cancels out any deficit reduction of the so called Inflation Reduction Act. That means Biden's legislation 2 weeks ago will be purely inflationary.

What a joke.

No one cares. It’s like all the tax cut to billionaires the republicans do every other year.

[Anonymous]

Anonymous wrote:Is this a one time event? That is, if my freshman kid takes out a loan this year, will it be forgiven, since the loan is in his name?

See. Proof that entitlement mentality is now settling in. Kids currently in college will now expect forgiveness going forward because of this precedent.

Colleges will see students now getting permanent forgiveness, so why not just increase the price of tuition by $10k?

Ridiculously stupid policy that creates nothing but permanent entitlement mentality and encourages colleges to raise tuition even more for a cash grab.

[Anonymous]

500 billion dollars pushed on tax payers. good luck biden.

[Anonymous]

Best part of this is the cap on interest rates and prohibiting interest from accruing if you are paying the minimum balance, which was nothing but a cash grab.

Too bad they cannot apply this to private loans. That's where the real predatory practices are.