Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I paid 35,000 of in three years after I graduated making 62,000.

I didn't eat out, or go to the movies, I lived is a crappy cheap apartment, and I didn't buy a new car.
I paid around 800 - 900 per month over aprox 3 years.

Where is my refund? I sacrificed and kept my word. The excuse everyone is using is that people don't make enough to pay off their debt. my debt was 50% of my gross pay (more of my net pay) and yet, I paid it off. Why can't other people do the same?

Math major ?

Your numbers don't work out.

yes the do... 800 or 900 per month X 12 months = 10,000 per year X 3 years = 30,000. So yes, I paid off my student loans in approximately 3 years. I still have all the cancelled checks and statements to prove it.
You just don't like the fact that someone can actually pay off their debt making a normal salary.

Anonymous wrote:

Anonymous wrote:What about my daughter? She starts college next year. Where is her 10K for school?

Where are all the people who get this free money demanding equity for everyone?
Oh, I guess they just want it for themselves.

Take out a loan, get it forgiven at graduation

Anonymous wrote:Nanny again- with that $10k, I could go to a trades school and it would change my life.

Anonymous wrote:What about my daughter? She starts college next year. Where is her 10K for school?

Where are all the people who get this free money demanding equity for everyone?
Oh, I guess they just want it for themselves.

Anonymous wrote:Biden and the Democratic Party are going to bitterly regret this decision when it completely blows up and they lose Spectacularly in the next two elections.

—30 year Dem

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I paid off well north of $200k in student loans from college and law school. While I’m happy that people are getting debt relief, and I don’t want people to unnecessarily suffer, I am frustrated by the narrative that every person getting loans forgiven simply never had a shot to pay them off. Those people exist for sure - and I’m happy to give them help even if they maybe didn’t make the best decisions on school and major. I do think the system is predatory.

But let’s not pretend like there aren’t people getting loan forgiveness who simply deprioritized pay back because they didn’t care all that much. Because they would rather job hop, buy nice clothes, engage in super nice travel. They made a choice not to really work on loans and they just got a $10k windfall. On top of the freeze during COVID. Man, having 0 interest would have helped me out so much when I was paying back my loans.

That’s what frustrates me. I don’t want offers to suffer, but man, I would love some of that money back I sent to the government.

The 1%er has spoken

A true 1%er doesn’t have student loans. Grew up middle class to boot.

Nice try though.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I paid off well north of $200k in student loans from college and law school. While I’m happy that people are getting debt relief, and I don’t want people to unnecessarily suffer, I am frustrated by the narrative that every person getting loans forgiven simply never had a shot to pay them off. Those people exist for sure - and I’m happy to give them help even if they maybe didn’t make the best decisions on school and major. I do think the system is predatory.

But let’s not pretend like there aren’t people getting loan forgiveness who simply deprioritized pay back because they didn’t care all that much. Because they would rather job hop, buy nice clothes, engage in super nice travel. They made a choice not to really work on loans and they just got a $10k windfall. On top of the freeze during COVID. Man, having 0 interest would have helped me out so much when I was paying back my loans.

That’s what frustrates me. I don’t want offers to suffer, but man, I would love some of that money back I sent to the government.

As a lawyer you have a higher income than most.

Which is why my complaint isn’t about the person making $50k getting loan forgiveness. I want them to get help, even if they took out $200k in loans for a degree in art history. The system is badly broken.

My complaint is about people who have the means (you know, people making $100k as individuals) who simply chose not to pay them.

Well there are only about 4% of the people who are eligible to receive loan forgiveness that earn over 100k as individuals. And many of those had undergraduate loans and graduate loans and have paid back their balance many times over in interest. Many are in their 30s and 40s at this point and are finally making over 100k and likely have forgone other tax breaks because they were paying off student loans--like mortgage interest deduction, retirement deductions etc. To be sure, there's bound to be a few folks that slip in and get a 10k windfall that they don't really need, but this is actually a fairly well-targeted policy--esp. with its adjustments to income-based repayment and higher loan forgiveness for Pell grant recipients. Far better targeted on genuine LMC and MC than tax policies have been for just about ever.

A policy that does absolutely nothing to solve the actual underlying problem is what passes for “well targeted” these days? Sheesh, what a low bar.

Well-targeted relief for the class of people most affected by the underlying problem. It will take congress--not an executive order--to solve the underlying problem. SO look at who you are voting for and question them about their platforms for that.

Biden says 95% of student loan borrowers are eligible. That's not "targeted".

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I paid off well north of $200k in student loans from college and law school. While I’m happy that people are getting debt relief, and I don’t want people to unnecessarily suffer, I am frustrated by the narrative that every person getting loans forgiven simply never had a shot to pay them off. Those people exist for sure - and I’m happy to give them help even if they maybe didn’t make the best decisions on school and major. I do think the system is predatory.

But let’s not pretend like there aren’t people getting loan forgiveness who simply deprioritized pay back because they didn’t care all that much. Because they would rather job hop, buy nice clothes, engage in super nice travel. They made a choice not to really work on loans and they just got a $10k windfall. On top of the freeze during COVID. Man, having 0 interest would have helped me out so much when I was paying back my loans.

That’s what frustrates me. I don’t want offers to suffer, but man, I would love some of that money back I sent to the government.

As a lawyer you have a higher income than most.

Which is why my complaint isn’t about the person making $50k getting loan forgiveness. I want them to get help, even if they took out $200k in loans for a degree in art history. The system is badly broken.

My complaint is about people who have the means (you know, people making $100k as individuals) who simply chose not to pay them.

Well there are only about 4% of the people who are eligible to receive loan forgiveness that earn over 100k as individuals. And many of those had undergraduate loans and graduate loans and have paid back their balance many times over in interest. Many are in their 30s and 40s at this point and are finally making over 100k and likely have forgone other tax breaks because they were paying off student loans--like mortgage interest deduction, retirement deductions etc. To be sure, there's bound to be a few folks that slip in and get a 10k windfall that they don't really need, but this is actually a fairly well-targeted policy--esp. with its adjustments to income-based repayment and higher loan forgiveness for Pell grant recipients. Far better targeted on genuine LMC and MC than tax policies have been for just about ever.

A policy that does absolutely nothing to solve the actual underlying problem is what passes for “well targeted” these days? Sheesh, what a low bar.

Well-targeted relief for the class of people most affected by the underlying problem. It will take congress--not an executive order--to solve the underlying problem. SO look at who you are voting for and question them about their platforms for that.

Anonymous wrote:What really should be done is a change in the bankruptcy laws. Right now, it's insanely difficult to get student loans discharged in bankruptcy. We should NOT go back to the 1970s when too many doctors and lawyers declared bankruptcy as soon as they graduated and before they started earning any money. But, it should be that after some period of time, if it looks like you can never pay your student loans off, you can declare bankruptcy. If that happened, banks wouldn't hand out student loans as easily as they do now.

And if the "educational institution" you borrowed money to attend goes under you shouldn't have to pay off the loans. So many people borrowed money to attend programs like Trump's hotel "school." They get nothing, but the banks can still collect.

Anonymous wrote:Biden and the Democratic Party are going to bitterly regret this decision when it completely blows up and they lose Spectacularly in the next two elections.

—30 year Dem

Anonymous wrote:Biden and the Democratic Party are going to bitterly regret this decision when it completely blows up and they lose Spectacularly in the next two elections.

—30 year Dem