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I have a well-off friend whose daughter, an LPN making low six figures, may be eligible for $10K worth of forgiveness. She is supposedly eligible for this because she still carries the debt. Her husband works, too and they are doing well for our geographic area. I don't see how it's 'fair' to saddle people who may not have incurred student loan debt with the debt of others. I had a relatively small student loan for a 2-year post grad program I completed and I paid back every cent.
Doesn't CONGRESS have to initiate an action to 'forgive debt?' I don't think Joe can do this on his own.
Doesn't CONGRESS have to initiate an action to 'forgive debt?' I don't think Joe can do this on his own.
One would think. But The General Counsel of the US Department of Labor has issued an opinion that the Secretary can do so, and Joe has ordered the Secretary to do so. It is about a 5 page opinion, and it begins:
One would think. But The General Counsel of the US Department of Labor has issued an opinion that the Secretary can do so, and Joe has ordered the Secretary to do so. It is about a 5 page opinion, and it begins:
Graduated students, I sopose could live in a van, shower at Planet Fitness, and do this for two years to pay off one of these predatory loans, whilst they worked their day job. It may take five years. And if they're poor enough, get assistance for their infant (but most aren't having them).
But what we've known for a long time, colleges and universities are run like businesses, and learning isn't the focus. In tandem, loans came to the rescue. Now the right thing to do is stop the bullsh$t predatory loans so students can participate in the economy - like buy a house.
This reminds me of all those victimized by mortgage companies and finally the government had to step in.
Student loan forgiveness doesn't affect me directly. I paid mine all off - worked while in school with two infants and NO extended family to babysit, used scholarships and loans to graduate while working part time. One would think I should be mad - but I'm just happy for the recipients.
I would sooner see the government spend money on lowering the cost of college on the front end, for students who are college material and who maintain a decent gpa.
Most big colleges, both state and private, have billions in endowments and still are getting federal money. Why? They seem to have plenty of money to support sports teams and hiring the Deblasio types to teach how to be a huge political failure, but they can’t subsidize deserving students? I thought that was supposed to be their purpose.
It hurts me as I paid off my son's student loans to help him and we as a family work hard and pull our own weight in society. Why does it hurt me? I already paid the loans off working two jobs and now I will have my taxes raised to pay even more student debt. we are talking about over $500 Billion! Where is that money coming from? Yep, the working class.
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