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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Pay your own bills.

There has been plenty of warnings about student loan debt for decades.

Most Americans do not have college degrees.  Why should they pay for largely white collar professionals to have debt relief?  You can also go to community college for two years and transfer to in state school while not living on campus, can join the military for debt relief, and simply live within your means to pay it off.  Why should the bricklayer breaking their back working 70 hours per week doing hard labor pay to relieve the loans of the art student with $100k of debts due to a degree in pottery while they earn $12/h at the local coffee shop living their Bohemian lifestyle?

We know, adulting is hard.  Boo hoo. [/quote]

1) these people have already paid the basis and a lot of interest back, watch the John Oliver video.
2) most of these people are your nursing home practitioners and teachers, of which, we still have massive shortages.[/quote]

Omg, you mean I have to pay interest when I take out a loan!!!????

Gee, who knew?  If  I take out $100k loans, I do not pay off my loan just because I paid $100k back, lol.  Holy crap, welcome to adulthood, you have to pay interest on a loan.  Your talking point #1 is asinine. You haven't paid back the basis because loans are amortized.   Grow up and read a personal finance 101 book.  If I take out $500k to buy a home, I may have to pay $900k-1M back over the course of the loan.  Just because I pay back $500k by year 15 doesnt mean I've paid back my basis.  What an infantile understanding of money.

People need to grow up and change out of their diapers and put their grown up panties on.  You take out a loan. Expect to pay it back with interest.  Expect it to be on an amortized schedule.  You can learn all of this by watching 7 minutes of YouTube videos. [/quote]

I paid off all my loans, too, and admit I was a bit resentful when Biden started talking about forgiveness.  I mean, what about those of us who sacrificed a lot to pay them off?  We get nothing?  It seems unfair.  On the other hand, it's not just interest.  It's predatory lending practices.  Kids take out loans when they are very young, and have no idea how interest works.

When I took out my loans, I am ashamed to admit that I did not understand that interest accrued annually - not just once, on the total loan.  My loans were at 13%, and were subject to a 6% finance fee. So I never even got 6% of what I borrowed, but had to pay 13% interest on it.  When rates when down and lenders were offering to refinance my loans at 4%, the government (under Bush) would not allow me to do so.  Yes, I was NOT ALLOWED to refinance, even though banks wanted to lend me the money.  Ultimately, I borrowed 90K and paid back 230K, and that's in spite of being a full time teacher in a Title 1 school for 15 years.  If family hadn't helped, I could not have done it.

If lending practices were fair and honest, this wouldn't be a problem.  Thank the GOP for the nightmare of having a whole younger generation in permanent debt.  It's like serfdom.  It needs to be addressed, one way or another.[/quote]

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