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11-17-2022, 06:42 AM
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88 posts, read 41,467 times
Reputation: 223
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Nobody forced people to go to college or to take out loans to attend said college. There are tons of what should be lower paying jobs that are now paying $25/hour around here. There is absolutely no reason why the borrowers should be given a free pass. Pay them off like responsible people do.
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11-17-2022, 06:44 AM
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88 posts, read 41,467 times
Reputation: 223
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Will throw in another thought that has probably been said already, but I am not reading through all of the previous responses. If this is allowed to happen, then the people benefitting from it should get a tax hit just like when other debt is written off.
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11-17-2022, 06:55 AM
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Location: Boston
18,567 posts, read 7,133,140 times
Reputation: 16084
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Biden lied to the willing dupes that thought this was legal. Biden knew all along it wasn't.
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11-17-2022, 01:06 PM
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999 posts, read 333,144 times
Reputation: 937
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Quote:
Originally Posted by Roselvr
I think the only people that would get an actual check were the ones who paid during the pause who could get back up to $10k or $20k depending on what they paid during the pause.
Those getting student loan forgiveness would not get a check, their loan balance would go down by $10k or $20k.
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It sounds like those covid refunds are coming either way. Then it will be up to the borrower to hold it aside for loan repayment or go spend it. |
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11-17-2022, 02:36 PM
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8,166 posts, read 6,015,974 times
Reputation: 18767
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Quote:
Originally Posted by Roselvr
I think the only people that would get an actual check were the ones who paid during the pause who could get back up to $10k or $20k depending on what they paid during the pause.
Those getting student loan forgiveness would not get a check, their loan balance would go down by $10k or $20k.
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Of course we know they wouldn't get a check. But that's the terminology that the President himself used. |
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11-17-2022, 10:54 PM
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Location: Las Vegas & San Diego
5,628 posts, read 2,156,143 times
Reputation: 6623
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Quote:
Originally Posted by uggabugga
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Even the Dems said it was not legal - last year Pelosi said that Biden doesn't have the authority to cancel student debt Specifically in July 2021, she said;
"People think that the President of the United States has the power of debt forgiveness. He does not. He can postpone, he can delay, but he does not have that power. That has to be an act of Congress."
It was always illegal. They were just buying votes from those that wish it could happen. |
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11-18-2022, 02:55 AM
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Location: Honolulu, HI
20,695 posts, read 6,532,029 times
Reputation: 19263
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Quote:
Originally Posted by RogueMom
It was a "carrot", bait to get those hoping for student debt relief to the polls during the mid-terms.
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Yup, and it seems to have worked. Now the legal challenges will hold it up, but the votes are already in the books.
Politics 101: overpromise and underdeliver. |
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11-18-2022, 12:22 PM
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Location: Oregon, formerly Texas
9,469 posts, read 6,276,642 times
Reputation: 16375
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I think the standing issue will hold up in the end and the forgiveness will go through.
Even if it doesn't for Biden this is a political win. Young people came out more than expected in the midterms and this was one of the reasons.
If the courts strike it down Biden can just extend the repayment & interest pause for the rest of his presidency. He can tell these people he tried, and if they want to pay a bunch of money elect the next president. Let the next president be the one to add all that interest to these borrowers' balances and restart their payments. See how that works out.
In the meantime, the overall college finance problem is not getting fixed. A new generation is getting saddled with even more debt as college costs continue to inexorably rise. Every day that goes by is a day Republicans *could* come up with a proactive solution to resolve this once and for all. But they won't. They're going to imvestigate Hunter Biden, not why college costs have utterly skyrocketed in 10 years.
I never thought I'd see the day when getting an education was viewed as a form of welfare. But here we are. You people are characterizing education as a form of irresponsibility. Yet I would bet dollars to donuts most of you posting here have a college degree, acquired when it was MUCH MUCH cheaper.
What I don't understand is why you're not concerned about your own kids. At the rate of increase, the college I went to will be unattainable for my own kids without a mortgage's worth of debt. For me it wasn't nearly that bad. It was a state school in Texas, not Harvard. Does no one care about this??
Last edited by redguard57; 11-18-2022 at 12:33 PM..
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11-18-2022, 01:41 PM
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Location: Las Vegas & San Diego
5,628 posts, read 2,156,143 times
Reputation: 6623
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Quote:
Originally Posted by redguard57
I think the standing issue will hold up in the end and the forgiveness will go through.
Even if it doesn't for Biden this is a political win. Young people came out more than expected in the midterms and this was one of the reasons.
If the courts strike it down Biden can just extend the repayment & interest pause for the rest of his presidency. He can tell these people he tried, and if they want to pay a bunch of money elect the next president. Let the next president be the one to add all that interest to these borrowers' balances and restart their payments. See how that works out.
In the meantime, the overall college finance problem is not getting fixed. A new generation is getting saddled with even more debt as college costs continue to inexorably rise. Every day that goes by is a day Republicans *could* come up with a proactive solution to resolve this once and for all. But they won't. They're going to imvestigate Hunter Biden, not why college costs have utterly skyrocketed in 10 years.
I never thought I'd see the day when getting an education was viewed as a form of welfare. But here we are. You people are characterizing education as a form of irresponsibility. Yet I would bet dollars to donuts most of you posting here have a college degree, acquired when it was MUCH MUCH cheaper.
What I don't understand is why you're not concerned about your own kids. At the rate of increase, the college I went to will be unattainable for my own kids without a mortgage's worth of debt. For me it wasn't nearly that bad. It was a state school in Texas, not Harvard. Does no one care about this??
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No, you just want the forgiveness to go through - even though it is very unfair to the 95% or so that would not benefit. Why does anybody think this was a good idea, benefiting only those that chose to get these loans and agreed to pay, making everyone pay for their loans.
The president can delay but not forgive these loans. Also what some seem to miss is this only applies to some loans. This will just make it worse for kids because will put in place the thought that pay whatever it costs because the loan will eventually be forgiven - why can some not see this.
Just to be clear, Harvard has the money to reduce their tuition but supply and demand says they are not overpricing - if they want you they will reduce tuition. |
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11-18-2022, 01:56 PM
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Location: Oregon, formerly Texas
9,469 posts, read 6,276,642 times
Reputation: 16375
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Quote:
Originally Posted by ddeemo
No, you just want the forgiveness to go through - even though it is very unfair to the 95% or so that would not benefit. Why does anybody think this was a good idea, benefiting only those that chose to get these loans and agreed to pay, making everyone pay for their loans.
The president can delay but not forgive these loans. Also what some seem to miss is this only applies to some loans. This will just make it worse for kids because will put in place the thought that pay whatever it costs because the loan will eventually be forgiven - why can some not see this.
Just to be clear, Harvard has the money to reduce their tuition but supply and demand says they are not overpricing - if they want you they will reduce tuition.
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Harvard I'm not concerned about. Normal state colleges and universities I am.
I paid off 36k worth of student loans 8 years ago. I benefit nothing from this.
But I realize that the college I went to is rapidly increasing its costs beyond what working and even middle class people can afford. It is literally 150% more expensive than what I paid. The kinds of jobs you can get with the degrees pay maybe 20-30% more than back then.
At the current rate of increase the state college I went to will cost my kids 45k a year. It cost me 12k. Jobs won't likely pay 4x as much in 12-15 years. They don't even pay double as much now. Maybe 30% more.
What's irresponsible is not running an education system that's affordable for the working and middle classes and making people take on these debts for salaries that are not even commensurate with inflation, let alone commensurate with the 150% increase in costs over about 10-15 years, about 3-4x the rate of inflation.
The states are supposed to be responsible for education according to their state constitutions. They have run it badly and allowed this to happen. So yes this is a government failure, not an individual one on the part of people who were trying to do the responsible thing.
Last edited by redguard57; 11-18-2022 at 02:19 PM..
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