Does $10K student loan forgiveness help you? How old are you? (counselor, degrees)

[gentlearts]

It will most likely help 2 of my grandchildren who are paying off student loans. Their older brother has already paid off his. I guess he’s just a ******?

What a great thing to teach our kids...that working people who pay taxes should pick up the bill for other people’s kids college. It’s right in line with what theyve already learned, like if their school doesn’t feed them breakfast and lunch they will starve.

[toobusytoday]

Do any of you follow Heather Cox Richardson? She's a Historian and a College professor who writes daily pieces tying what's going on today with it's historical context. Today's piece touched on Biden's student loan forgiveness: https://www.facebook.com/heathercoxrichardson

The Department of Education estimates that almost 90% of the relief in the measure will go to those earning less than $75,000 a year, and about 43 million borrowers will benefit from the plan.
Opponents of the plan worry that it will be inflationary and that it will not address the skyrocketing cost of four-year colleges. But its supporters worry that the education debt crisis locks people into poverty. They also note that there was very little objection to the forgiveness of 10.2 million Paycheck Protection Program (PPP) loans issued as of July 2022, with $72,500 being the average dollar amount forgiven.

I am in favor of this because I know many people who work full time but still have a student loan debt that is enough that they cannot save to buy a house. This will make a significant impact.

[SharonMB]

It doesn't affect me; my minimal loans were paid off long ago. But I'm happy for those it helps! I'd much rather see money going help families and individuals, particularly those from lower socioeconomic classes, than have it go to yet another corporate tax break.

[SharonMB]

Originally Posted by gentlearts

It will most likely help 2 of my grandchildren who are paying off student loans. Their older brother has already paid off his. I guess he’s just a ******?

What a great thing to teach our kids...that working people who pay taxes should pick up the bill for other people’s kids college. It’s right in line with what theyve already learned, like if their school doesn’t feed them breakfast and lunch they will starve.

It is a good thing to teach kids. We all help each other. Since you'd apparently like to see children from poor families literally go hungry all day, though, I can see how this wouldn't be a lesson you agree with.

I'm glad for your grandchildren who are paying off their loans. And I'm also glad for your other grandchild who had the means to pay his off. Great news all around!

[Countryfreak]

Originally Posted by Countryfreak

"Just to be clear, there is no plan to eliminate the student debt. There is a plan to transfer that debt to those that don't owe it."

Observed on a meme.

To the clod who sent the below comment to me in private. You do realize I was just giving credit to someone else that created it or are you not educated well enough to understand this? Do I know for a fact it is true but it does stand to reason that someone will be paying this off and I am fairly certain the billionaires in this country will not. Is this something you can understand? Did I dumb it down enough?

"If it's on a meme, you know it's gotta be true, amirite! LMAO"

[Seguinite]

Originally Posted by chattyneighbor

... Forgiveness without waiver of the accumulated interest and debt collection fees makes this plan hollow...

Wait a minute... what? They'll do away with the principle (Aunt Nancy doesn't like 'forgive' because it's indiciative of a 'transgression') but people are still on the hook for interest and deadbeat fees?

I'll whine a lilttle bit less about how unfair it is to all the responsible people who PAID their loans knowing this.

[gentlearts]

Originally Posted by SharonMB

It is a good thing to teach kids. We all help each other. Since you'd apparently like to see children from poor families literally go hungry all day, though, I can see how this wouldn't be a lesson you agree with.

I'm glad for your grandchildren who are paying off their loans. And I'm also glad for your other grandchild who had the means to pay his off. Great news all around!

There are better ways to help with education. My state has a thing called Hope Scholarships, which gives grants to students who maintain certain grade point averages. I don’t object to my tax dollars going to this at all. It requires personal responsibility.

[KathrynAragon]

I don't guess it helps those of us who worked 30 to 40 hours a week while going to school full time so that we didn't have to take out loans.

[KathrynAragon]

Oh and I always think about my brother during these conversations. He didn't take out any loans because my parents were wealthy by the time he went to college and they paid for everything (he's ten years younger than me - they were not nearly as helpful with me). I remember very distinctly that he 1) didn't work through college at all and 2) told my parents, who believed him, that he needed a credit card to eat his meals outside the cafeteria because the cafeteria food upset his stomach.

Anyway, things that make you go Hmmmmmm.....

[USNRET04]

Going forward, what is the plan for future college students? I have a son in high school. Will the government give him a free or mostly free tuition or are future generations screwed?