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Never any blame on these crooked extortionist overpriced college institutions, business owners or paid off politicians etc.? The problem isnt college. The problem is lack of quality jobs in this country. I see nothing wrong with student loan forgiveness as long as jobs continue to bleed out of America and visa workers flood our companies.
I can understand how an ignorant person, who chose not to read a topic before claiming such a thing, could reach that conclusion.
So the two-thirds of Americans who don’t have college educations (and on average earn less) have to pay off the loans of college graduates (who on average earn more)? Yeah, that sounds fair.
- signed, college graduate
P.S. what about the money taken out of the economy from the people who instead have to pay off other people’s loans?
It's the exact same mechanism that got Obammacare instituted. Those that DON"T have get to pay for those that DO or WANT TO have it. This is the Socialist way........welcome to Russia 2.0
I see that most posters are unable to debate the actual issue and not resort to personalization or individualization of the problem
No wonder we can't get anything done in this country.
People stop debating personal choices which have already been made. How do we deal with the numbers on the balance sheet.
Many of these loans are on PAUSE and will not be paid by the borrower.
Please stop focusing on coulda woulda shoulda, and start focusing on what policy is appropriate to dig us out of this mess. Yelling and screaming at broke jobless people to pay the loan isn't going to change anything.
it seems the majority on here say no way. in fact, ive never seen a thread with so much agreement!
Biden wants more votes for re-election. Executive order probably can cancel up to 200B without creating a ruckus.
After all we're getting 900B more stimulus. In the broader scheme of things it's a drop in the bucket. We'll be at 10T total by the time this is fully over and student loans is only 1T of that yet creates the most severe drag on consumer spending behind Car loans.
Note - Please don't make this about individuals or typical stereotypes of "underwater basket weaving" majors. Let's focus on the numbers and what that means at a Macroeconomic level.
The smarter among us are concerned about a swinging pendulum for hyperinflation until 2030 then massive bone crushing DEFLATION from demographic and cultural shifts.
Eliminating American student loans could buoy the entire global economy for the next 50 years. That's 100-200B in capital annually that could be redirected into consumption and entrepreneurial activities which could jump start new industries.
No offense, and I get Biden will be 46, but re-election? No exaggeration, that dude will be in diapers in 4 years.
I see that most posters are unable to debate the actual issue and not resort to personalization or individualization of the problem
No wonder we can't get anything done in this country.
People stop debating personal choices which have already been made. How do we deal with the numbers on the balance sheet.
Many of these loans are on PAUSE and will not be paid by the borrower.
Please stop focusing on coulda woulda shoulda, and start focusing on what policy is appropriate to dig us out of this mess. Yelling and screaming at broke jobless people to pay the loan isn't going to change anything.
its not "personalization" of the problem
it the integrity of the problem
so a loan (a contract) THEY CHOSE to take out that loan...they made a promise that they would replay it...not expect someone else to pay THEIR BILL
forgiveness of a loan is wrong..those "students" signed a LEGAL CONTRACT... it is their JOB to pay that loan back..... otherwise what are we saying....do you really think we should be saying the law doesn't matter, legal contracts don't matter..... do we really want to raise a generation that is lawless??
if a person wishes to get a loan (which is a contract) then they should be expected to repay said loan...honor your contract
a studentloan is a signature or characterloan... you are getting a loan based on character or your word, that you are using this money for good (going to school) and you make that promise that you will re-pay that loan...... you gave your word, your bond, your promise.......you signed the contract which was very clear on the interest rate (be it a fixed 0% or even 25%...be it an adjustable (for example 5% + prime))……....you AGREED to the details of that contract.
Biden wants more votes for re-election. Executive order probably can cancel up to 200B without creating a ruckus.
After all we're getting 900B more stimulus. In the broader scheme of things it's a drop in the bucket. We'll be at 10T total by the time this is fully over and student loans is only 1T of that yet creates the most severe drag on consumer spending behind Car loans.
Note - Please don't make this about individuals or typical stereotypes of "underwater basket weaving" majors. Let's focus on the numbers and what that means at a Macroeconomic level.
The smarter among us are concerned about a swinging pendulum for hyperinflation until 2030 then massive bone crushing DEFLATION from demographic and cultural shifts.
Eliminating American student loans could buoy the entire global economy for the next 50 years. That's 100-200B in capital annually that could be redirected into consumption and entrepreneurial activities which could jump start new industries.
Trump passed $4.5 Trillion worth of stimulus for Wall St and corporations in the CARES legislation. I’m not for ANY kind of bailout, but let’s not pretend that one is worse than the other. Jeezus, I wonder if I can get reimbursed the $2,500 loan that I took out in 1985 (adjusted for inflation, of course)?
We don't agree on a lot of things but I agree with this. Much of the reason students are so far in debt is from universities having to pay huge salaries to tenured professors.
The other thing that gets me is that many or most of these prestigious universities get government subsidies and endowments. Harvard got $9 million in Covid funds.
I believe if they cut some of the fat out of these colleges tuition could be a lot less expensive.
Harvard returned those Covid funds. Tenured professors are typically profitable.
Colleges don't get endowments. Only public universities get subsidies. I agree that the government should get out of financing colleges.
It's the exact same mechanism that got Obammacare instituted. Those that DON"T have get to pay for those that DO or WANT TO have it. This is the Socialist way........welcome to Russia 2.0
Just like the stimulus package Trump signed. All those business loan borrowers that don't have to pay it back. Will I get a refund on my business loans that I paid back?
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