Anonymous wrote:Expensive private college tuition should only be for rich people.

And if your local four year public college or university is too expensive for you, then starting your college career at a community college is a great option.

Whatever debate there needs to be about college costs should happen at the state and local level in terms of taxes to support higher education.

People need to start learning to be more realistic and pragmatic about their choices.

There is no rational reason for American taxpayers to pay 100% of your cost to a college that has tuition higher than median household income just because it was your dream.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seems like he's dead set on rolling this back and rolling it bak quickly: https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

.

The only people in favor of student loan forgiveness are the people who have the loans. I would be in favor of 100% loan forgiveness to teachers and medical professionals with the proviso that they must teach for ten years and medical professionals must practice in rural areas desperately in need of medical help for ten years.

The only way to ensure this would be to forgive the loans after they've done those 10 years. They should still make at least the minimum payments on the loan in the meantime.

This is what the law governing PSLF already requires. We literally have this law on the books. You work in public service + make 120 on time payments = you get remaining balance of the student loan forgiven.

The problem was that Betsy de Vos refused to enforce the law in 2017 and approve PSLF forgiveness for those who already did their service and made 120 payments. She literally was refusing to follow the law and lots of people were suing the Dept of Ed. It wasn’t until Biden came into office that they began approving PSLF forgiveness in accordance with the law.

Look, Betsy de Vos was acting like the law didn’t exist. It was egregious. Yet none of you crowing about student loans were harping on this lawless behavior by the first Trump administration.

Two wrongs don’t make a right.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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.

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.

Anonymous wrote:This is good news, both from a moral standpoint and an economic one. Shame on Biden for trying to do an end run around the courts and our legislature and getting into this mess, but it will be fixed.

Anonymous wrote:

Anonymous wrote:This may be a dumb question, but once forgiven can a student loan be "unforgiven?"

Does anyone know the answer to this? I’m afraid of the loans that I had forgiven will somehow be reinstated.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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.

Your mortgage is dischargable in bankruptcy.

Your student loan is not.

Make student loans dischargable in bankruptcy and we would have fewer problems.

And who would disagree with that? Making student loans dischargeable in bankruptcy is something I 100% agree with. That's helluva lot different than forgiveness. If you make it dischargrable in bankruptcy, it imposes risk costs on the lenders and borrowers. Banks will make it much harder to get loans. Once the taps for easy flowing credit and money close, colleges will be forced to rein in costs and to even lower them. This is how you actually address the fundamental cause of the problem.

Good luck ever getting a student loan if that happened.

Anonymous wrote:This may be a dumb question, but once forgiven can a student loan be "unforgiven?"

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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.

Your mortgage is dischargable in bankruptcy.

Your student loan is not.

Make student loans dischargable in bankruptcy and we would have fewer problems.

And who would disagree with that? Making student loans dischargeable in bankruptcy is something I 100% agree with. That's helluva lot different than forgiveness. If you make it dischargrable in bankruptcy, it imposes risk costs on the lenders and borrowers. Banks will make it much harder to get loans. Once the taps for easy flowing credit and money close, colleges will be forced to rein in costs and to even lower them. This is how you actually address the fundamental cause of the problem.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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.

Your mortgage is dischargable in bankruptcy.

Your student loan is not.

Make student loans dischargable in bankruptcy and we would have fewer problems.

And who would disagree with that? Making student loans dischargeable in bankruptcy is something I 100% agree with. That's helluva lot different than forgiveness. If you make it dischargrable in bankruptcy, it imposes risk costs on the lenders and borrowers. Banks will make it much harder to get loans. Once the taps for easy flowing credit and money close, colleges will be forced to rein in costs and to even lower them. This is how you actually address the fundamental cause of the problem.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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.

Your mortgage is dischargable in bankruptcy.

Your student loan is not.

Make student loans dischargable in bankruptcy and we would have fewer problems.

And who would disagree with that? Making student loans dischargeable in bankruptcy is something I 100% agree with. That's helluva lot different than forgiveness. If you make it dischargrable in bankruptcy, it imposes risk costs on the lenders and borrowers. Banks will make it much harder to get loans. Once the taps for easy flowing credit and money close, colleges will be forced to rein in costs and to even lower them. This is how you actually address the fundamental cause of the problem.

Anonymous wrote:

Anonymous wrote:Seems like he's dead set on rolling this back and rolling it bak quickly: https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

.

The only people in favor of student loan forgiveness are the people who have the loans. I would be in favor of 100% loan forgiveness to teachers and medical professionals with the proviso that they must teach for ten years and medical professionals must practice in rural areas desperately in need of medical help for ten years.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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.

Your mortgage is dischargable in bankruptcy.

Your student loan is not.

Make student loans dischargable in bankruptcy and we would have fewer problems.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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.