Anonymous wrote:

Anonymous wrote:But at least those unregulated PPP loans were forgiven, right guys? I'm so sick of living in this corrupt country. Heads you lose, tails you lose.

The PPP loans weren't loans, they were free money during a once-a-century nationwide epidemic. And fraud is being tracked and prosecuted.

I guess you would have preferred no PPP loans and businesses going bankrupt while people stayed home?

Lol. PPP fraud isn’t being tracked. There are literally thousands of scammers within 5 miles of my house.

Anonymous wrote:No standing. Another failed Biden policy

No standing would be in Biden’s favor. It means the people who brought the lawsuit have no standing to sue, and the case won’t be decided on the merits. There were 2 lawsuits.

I don't understand how so many people got caught in this problem. Is it hard for an 18-25 year old to understand that taking on tens of thousands of dollars in loans is a bad idea unless you have a plan to pay it back (ie pursuing certain degrees from certain schools)? I can understand graduating at a bad time and unexpected not being able to find a job or a lower paying job, but I don't think that can explain the sheer number of people who are overburdened with loans. That speaks of bad planning.

I know no one likes anecdotes but I only share to illustrate that there are different ways to success. I graduated grad school with over 160k in student loans and paid it off in 5 years. My husband went to a cheap state school/community college combo and didn't need school loans. We now earn about the same. Point is, don't do the loans unless you are sure you can pay it off because you don't need to go to those fancy private schools to be successful.

Anonymous wrote:This decision is the least important decision the Court has handed down. The decisions on affirmative action and the CO anti-discrimination law are far more important. And they are intellectually inconsistent with each other.

They are both what republicans want, so they are completely consistent.

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Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I do loan financing. We won't finance an 18 year old without a co-signer for a car. Yet the same 18 year old can get accepted to a $40k/year college and get a loan for that without any issue.

GTFO.

Student loans are predatory. Period. People wouldn't be as averse to paying off the loans if they had zero interest or low interest. My wife is still paying for her $39k student loan that is now in the high $50k range.

What financial institution do you work for that doesn’t require a co-signer for a private student loan? 18-year old freshmen are capped at $5,500 in federal loans that they can borrow on their own. Over four years the max federal loan limit (with some exceptions) would be $27k.

Private student loans almost invariably require a parent or other credit-worthy co-signer, so your wife must have private loans. Those are a separate matter.

This. I wonder if part of the problem is that a lot of people, even those in finance, don't understand how student loans work.

Anonymous wrote:The boomers must be so happy.

Not a boomer, but thrilled.

Pay your own bills.

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Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

No, but but it is your fault for being so stupid you decided to take out a loan without understanding basic finance 101, interest, and loan amortization.

Imagine getting to adulthood and never spending 5 minutes learning the basic concept of loan amortization and compound interest while you've spent hours per week in crap like TikTok and Instagram.

Here's the world smallest violin playing for you: ____

+1. That poster’s head is going to explode when they go to close on their first house and realize that $400K house is going to cost 7 figures.

Are you serious? WE ARE NEVER GOING TO BE ABLE TO OWN A HOME, you fruitloop dingus!

That's what the younger generations in the US are telling you: we are NOT going to pay our student loans b/c we don't give a shit what happens. We don't make enough to fking care. We aren't having kids b/c we don't make enough. We aren't owning homes because we don't make enough. WE DON'T CARE.

So much hyperbole. I'm a millennial that had student loan debt I paid off. I own a home. All of my millennial friends with families own homes.

Agree, define 'we' because there are millions of millennials who figured out how to be an adult. Maybe it is a YOU problem.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

No, but but it is your fault for being so stupid you decided to take out a loan without understanding basic finance 101, interest, and loan amortization.

Imagine getting to adulthood and never spending 5 minutes learning the basic concept of loan amortization and compound interest while you've spent hours per week in crap like TikTok and Instagram.

Here's the world smallest violin playing for you: ____

+1. That poster’s head is going to explode when they go to close on their first house and realize that $400K house is going to cost 7 figures.

Are you serious? WE ARE NEVER GOING TO BE ABLE TO OWN A HOME, you fruitloop dingus!

That's what the younger generations in the US are telling you: we are NOT going to pay our student loans b/c we don't give a shit what happens. We don't make enough to fking care. We aren't having kids b/c we don't make enough. We aren't owning homes because we don't make enough. WE DON'T CARE.

I know plenty of younger people that are owning homes and having children. All without significant financial help from their parents. They may not live in an expensive neighborhood in DC or NYC though. Crazy.

Anonymous wrote:

Anonymous wrote:You mean I don’t have to pay for some millennial’s Masters degree in sustainability? Thank you SC!

Especially since companies tend to pay at least 1/2 the cost of a master’s. My daughter is getting one now courtesy of her company

That benefit went away from
many F500’s in the Great Recession. Now you get $5,000 and have to sell your soul for the next 3-5 years.

This decision is the least important decision the Court has handed down. The decisions on affirmative action and the CO anti-discrimination law are far more important. And they are intellectually inconsistent with each other.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

No, but but it is your fault for being so stupid you decided to take out a loan without understanding basic finance 101, interest, and loan amortization.

Imagine getting to adulthood and never spending 5 minutes learning the basic concept of loan amortization and compound interest while you've spent hours per week in crap like TikTok and Instagram.

Here's the world smallest violin playing for you: ____

+1. That poster’s head is going to explode when they go to close on their first house and realize that $400K house is going to cost 7 figures.

Are you serious? WE ARE NEVER GOING TO BE ABLE TO OWN A HOME, you fruitloop dingus!

That's what the younger generations in the US are telling you: we are NOT going to pay our student loans b/c we don't give a shit what happens. We don't make enough to fking care. We aren't having kids b/c we don't make enough. We aren't owning homes because we don't make enough. WE DON'T CARE.

Define "we"

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Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

Take your concerns up with Obama. That all started under his "genius" plan.

Interesting…. because I went to grad school when Bush was president so, I’m not sure what Obama started that impacts me here.

Did you take a private loan?

There was a small portion that was private and those were quickly paid off. The overwhelming majority of my loans were FFELP which if they were still intact would have been already removed from forgiveness last fall.

I’m just pointing out that this pay for what you owe bullsh*t argument ignored compounding annual interest that turned my loan into an 80% interest rate instead of 6.25% I signed on for.

Your argument is with compounding annual interest??? Every product you buy on credit is subject to compounding annual interest.

Seriously?
Buying a TV is different than getting an education.

I’m talking about buying a house or a car to get to a job. If loans on those (necessities) charge compounding annual interest, why wouldn’t a loan for college?

Truly, neither a house or a car are necessities.
Shelter comes in many forms - 115 million Americans were renters in 2021 - and access to public transportation or walkability. All avoid compounding loans.

Additionally, home ownership comes with many advantageous tax benefits for the owner(s) including the ability to write off the interest payments, well well in excess of the same ability to do so with student loans.

So your argument is that college loans, and only college loans, should be exempt from compounding interest? Is that right?

Federally backed college loans used for higher education purposes? Yes, those loans should be exempt from compounded interest.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

No, but but it is your fault for being so stupid you decided to take out a loan without understanding basic finance 101, interest, and loan amortization.

Imagine getting to adulthood and never spending 5 minutes learning the basic concept of loan amortization and compound interest while you've spent hours per week in crap like TikTok and Instagram.

Here's the world smallest violin playing for you: ____

+1. That poster’s head is going to explode when they go to close on their first house and realize that $400K house is going to cost 7 figures.

Are you serious? WE ARE NEVER GOING TO BE ABLE TO OWN A HOME, you fruitloop dingus!

That's what the younger generations in the US are telling you: we are NOT going to pay our student loans b/c we don't give a shit what happens. We don't make enough to fking care. We aren't having kids b/c we don't make enough. We aren't owning homes because we don't make enough. WE DON'T CARE.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:But at least those unregulated PPP loans were forgiven, right guys? I'm so sick of living in this corrupt country. Heads you lose, tails you lose.

The PPP loans weren't loans, they were free money during a once-a-century nationwide epidemic. And fraud is being tracked and prosecuted.

I guess you would have preferred no PPP loans and businesses going bankrupt while people stayed home?

And most of that money was essentially stolen by republican businessmen and Trump cronies.

And yet we are (comparatively) nickle and diming people who want to make themselves more marketable in our system.

This tired argument about PPP loans is only ever repeated by people like yourself that have neither the motivation or intelligence to sign the front of a paycheck.

As it turns out, the Biden admin DOJ has been around for quite awhile and we are not awash in PPP related prosecutions.

The same lack of financial literacy that makes these arguments palatable is the same thing that puts somebody in the place of having a useless degree and too much student loan debt. Funny how that works out.

Anonymous wrote:You mean I don’t have to pay for some millennial’s Masters degree in sustainability? Thank you SC!

Especially since companies tend to pay at least 1/2 the cost of a master’s. My daughter is getting one now courtesy of her company