Anonymous
09/18/2020 19:20
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
Anonymous wrote:I paid off my student loan. I am thrilled that I did. I am also happy that others are getting their loans forgiven. Student loan debt drags down the economy. Younger borrowers entered a horrible job market. I don’t understand why other posters get so worked up about debt forgiveness. Other should suffer because you did? It’s like you believe we should not have new drugs available for diseases because others who died didn’t have access to them.
Boo hoo. Older millennials graduated into an even worse job market during 2008. No one bailed us out or gave us stimulus checks. Many of my friends had their credits completely ruined after they lost their jobs and had to choose between paying student loans, rent, or for food. I paid my loans, so can Gen Z I would have vastly more wealth and would have owned a home many years earlier if I got a free handout. Give me my money back. Apparently only dumb people pay their loans that they signed a contract for. Gee, who knew.thr biggest financial mistake you'd ever make is to payoff debt responsibly.
Anonymous
09/18/2020 19:19
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
Anonymous wrote:Anonymous wrote:If you paid your loans you don't need loan relief. I don't have children, so I dont get a tax deduction or childcare benefits. Should I be stomping around about how it's not fair, and that someone should pay me something for these benefits I don't need?
Student loans aren't the only type out there.
Just think of how much money people could pump back into the economy without having to pay their mortgage or Car loan payments! Gimme some of that debt relief!
Seriously, this thread shows how out of touch most are. The people who need the most help have never stepped foot on a University campus. Wake up!
Anonymous
09/18/2020 18:50
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
Anonymous wrote:If you paid your loans you don't need loan relief. I don't have children, so I dont get a tax deduction or childcare benefits. Should I be stomping around about how it's not fair, and that someone should pay me something for these benefits I don't need?
Student loans aren't the only type out there.
Just think of how much money people could pump back into the economy without having to pay their mortgage or Car loan payments! Gimme some of that debt relief!
Anonymous
09/18/2020 18:48
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
Anonymous wrote:Debts are rich people’s assets. Rich are NEVER going to free the poor.
Yeah I was just thinking this... Just waiting for the banks to step in an crush this. They won't be giving up those interest payments that easily.
Anonymous
09/18/2020 18:45
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
Anonymous wrote:Anonymous wrote:Might as well cancel federally backed home mortgages at this rate too. Housing is arguably even more important than education. People *deserve* homes too according to the same leftist logic for handing out free college loans. Might as well give free handouts for mortgages too while we are at it.
+1
why would you cancel debt held by COLLEGE GRADUATES when there are unemployed blue collar workers who can't pay rent and hundreds of thousands of homeless in the streets?
50% who enroll in college never graduate, they still have debt to service. Guess who the majority of those dropouts are? Poor and middle class blue collar republicans i.e. Trump's base.
Anonymous
09/18/2020 18:43
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
Anonymous wrote:It's a tradeoff. A college grad can spend ten years or more paying off their loans - that's ten years' worth of cash that's not going into the economy. The $50K payoff is chump change compared to what the person would contribute when freed of crushing debt.
+1. Important to note the avg former student has nowhere near $50K. Out of 45 million borrowers, I believe 12 million have less than $10K outstanding, 20 million have less than $20K -- 50% never graduate, they go for a few semesters and stop.
Avg public university undergrad graduate finishes college with over $32,000 in loans.
Anonymous
09/18/2020 18:41
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
I paid off my student loan. I am thrilled that I did. I am also happy that others are getting their loans forgiven. Student loan debt drags down the economy. Younger borrowers entered a horrible job market. I don’t understand why other posters get so worked up about debt forgiveness. Other should suffer because you did? It’s like you believe we should not have new drugs available for diseases because others who died didn’t have access to them.
Anonymous
09/18/2020 18:03
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
Anonymous wrote:Might as well cancel federally backed home mortgages at this rate too. Housing is arguably even more important than education. People *deserve* homes too according to the same leftist logic for handing out free college loans. Might as well give free handouts for mortgages too while we are at it.
+1
why would you cancel debt held by COLLEGE GRADUATES when there are unemployed blue collar workers who can't pay rent and hundreds of thousands of homeless in the streets?
Anonymous
09/18/2020 18:01
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
Might as well cancel federally backed home mortgages at this rate too. Housing is arguably even more important than education. People *deserve* homes too according to the same leftist logic for handing out free college loans. Might as well give free handouts for mortgages too while we are at it.
Anonymous
09/18/2020 16:25
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
Anonymous wrote:Anonymous wrote:Anonymous wrote:Debts are rich people’s assets. Rich are NEVER going to free the poor.
Untrue. 95%+ of outstanding student loan monies are owed to the Department of Education. They are not privately held assets. Rich people don’t make anything of the loans, aside from the loan servicers who have fixed contracts.
The amounts owed are literally funny money that the government created out of thin air and then the students are on he hook to pay back. The government can magically cancel the debts and it will do nothing to our money supply or the federal budget. You won’t need to raise taxes to cancel student loan debts. The government will just write it off because it controls the currency.
Student loan debt is Magic money. Think of it as the fabled fiscal printing press. No investors are shortchanged when the debt is canceled. Our credit rating doesn’t take a hit because foreigners are not involved. It’s money we owe ourselves.
If it’s so easy why didn’t Obama exec order cancel all outstanding federal loans? Why doesn’t Trump? Clearly they’re being lobbied by powerful forces.
It’s not easy. And it’s also legally dubious. But this is why Congressional Dems are pushing legislation to give the President the power. Congress doesn’t have to set aside monies to forgive the loans or raise taxes.
Obama didn’t do it because the political winds were not favorable. Can you imagine the meltdown Republicans would have over “executive overreach” if Obama signed such an EO? It would be in the court for years and borrowers would potential be liable years later.
Warren and Schumer are trying to give Trump a clear legal path to do it.
Anonymous
09/18/2020 16:18
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
It's a tradeoff. A college grad can spend ten years or more paying off their loans - that's ten years' worth of cash that's not going into the economy. The $50K payoff is chump change compared to what the person would contribute when freed of crushing debt.
Anonymous
09/18/2020 16:10
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
Anonymous wrote:Anonymous wrote:Debts are rich people’s assets. Rich are NEVER going to free the poor.
Untrue. 95%+ of outstanding student loan monies are owed to the Department of Education. They are not privately held assets. Rich people don’t make anything of the loans, aside from the loan servicers who have fixed contracts.
The amounts owed are literally funny money that the government created out of thin air and then the students are on he hook to pay back. The government can magically cancel the debts and it will do nothing to our money supply or the federal budget. You won’t need to raise taxes to cancel student loan debts. The government will just write it off because it controls the currency.
Student loan debt is Magic money. Think of it as the fabled fiscal printing press. No investors are shortchanged when the debt is canceled. Our credit rating doesn’t take a hit because foreigners are not involved. It’s money we owe ourselves.
If it’s so easy why didn’t Obama exec order cancel all outstanding federal loans? Why doesn’t Trump? Clearly they’re being lobbied by powerful forces.
Anonymous
09/18/2020 16:08
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
Anonymous wrote:Anonymous wrote:Imagine if it were healthcare debt that that would be the better gift. Wipe all that clean.
I agree with this.
I don't agree with forgiving student loan debt as that wasnt a necessary expense, but no one should go broke trying to stay alive and healthy. That would be a good band aid until our citizens get universal healthare.
Every high school counselor in the nation nudges kids to college, prepared or not. Obama’s entire tenure was getting millions more kids to college. Most state governors the same.
Anonymous
09/18/2020 16:01
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
Anonymous wrote:Debts are rich people’s assets. Rich are NEVER going to free the poor.
Untrue. 95%+ of outstanding student loan monies are owed to the Department of Education. They are not privately held assets. Rich people don’t make anything of the loans, aside from the loan servicers who have fixed contracts.
The amounts owed are literally funny money that the government created out of thin air and then the students are on he hook to pay back. The government can magically cancel the debts and it will do nothing to our money supply or the federal budget. You won’t need to raise taxes to cancel student loan debts. The government will just write it off because it controls the currency.
Student loan debt is Magic money. Think of it as the fabled fiscal printing press. No investors are shortchanged when the debt is canceled. Our credit rating doesn’t take a hit because foreigners are not involved. It’s money we owe ourselves.
Anonymous
09/18/2020 15:48
Subject: Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt
Everyone who paid back any student loan money over the last 25 years should also get their refunds.