Reply to This story of loan forgiveness does not sit well with me

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[quote=Anonymous][quote=Anonymous]He not only gets to discharge the debt he also isn't going to have to pay any taxes on that. Ordinarily the IRS considers discharge debt to be income. Through the end of 2025, no borrowers will pay federal income taxes on any student debt discharged by the federal government. A provision in the March 2021 COVID-19 relief package stipulates that any debt forgiven from Dec. 31, 2020, to Jan. 1, 2026, will not count as income

The guy is so scammy. He has an online presence so on a lesson webpage his bio includes that he attended University of North Carolina School of the Arts where tuition for instate residents is CURRENTLY only $6,497 for residents. Granted room and board, food, and health insurance adds quite a bit but regardless you would have to pay that somewhere. The reason why he probably still has loans is that he proudly explains how he visits his guru in India EVERY YEAR:

Seeing the value of introspection through the study of music, Joel began to become interested in meditation as a way to improve his artistry. At age 17, he began a 20 year study of Tai Chi and Chi Gong (Sang Gee Tam, David Harold,  "Jin Taiyang" Kris Brenner, and Master Yang  Fukui), which eventually led him to and intensive study of Zen meditation with the Mountains and Rivers Order in New York in 2004. From there, meditation became the driving force in his life, and developed an Advaita  practice in the Indian tradition.  Joel has been visiting  Jaipur, India to study with his teacher every year since 2011.
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this is exactly why this story doesn't sit well with me.

Who goes on an annual trip for meditation when they have $250K student loans?   Instead of doing that maybe that should've gone to paying down your loans.

I'm not saying people like this shouldn't be able to have some fun, but I grew up lower income, and we did not go on international vacations, not even back to my parents' home country.  They did not go back until like 15 years later after they started making more and had no other debt than a small mortgage.  My mom hadn't seen her siblings for 15 years.

You hear stories of people who scrimped and saved and lived frugally just to afford college for their kids, and then you have this guy who majored in fluff, didn't get a better paying job even though he knew he should've, and still went on international vacations every year.

And yea, the rich people getting PPP loans also don't sit well with me, either.[/quote]

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