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Oh stop. Your helping those less fortunate as you. You were blessed enough to be able to pay off your loans. Others not so lucky. WE call ourselves a nation but would rather see our fellow citizens struggle and starve because we don't think they deserve not to as out brothers and sisters.
This country is being torn apart by greed, hate, lack of empathy, and a horrifying rebellion against education and intelligence where we believe a lie instead of the truth.
If I have to pay $500/year in taxes so that my neighbor doesn't have to get food stamps because his student loans are sucking the life out of him, so be it. It's the least I can do.
So essentially from each according to his/her ability, to each according to his/her needs?
Student debt is an outgrowth of failed policy and is a huge burden on millions of Americans who are unable to achieve home ownership or invest in ways that would benefit them and the greater good. Canceling a part of this debt would be a tremendous economic stimulus with the benefits cascading throughout the economy and aiding everyone, not just the ones who got the debt forgiven.
I approve. The next generation is going to be saddled with so much debt thanks to Trump, the least that we can do is forgive a mere $10K in debt for them.
"The next generation is going to be saddled with so much debt thanks to Trump"
And you never whined when obama DOUBLED the debt. Why?
ALL spending bills originate in the HOUSE, and who has had control of the House? Guess where ALL this spending originated.
Things ADDED to the bill which was SUPPOSED to help those in need due to the virus that NANCY and her crowd ADDED to the bill.
> Make sure you try and count the 000000000’s!
> Behind your little $600 check.... relief check you will receive:
>
> 1. $300,000,000 for Migrant and Refugee Assistance pg.. 147
> 2. $10,000 per person for student loan bailout
> 3. $100,000,000 to NASA, because, who knows why.
> 4. $20,000,000,000 to the USPS, because why not
> 5. $300,000,000 to the Endowment for the Arts - because of it
> 6. $300,000,000 for the Endowment for the Humanities/ because no one even knew that was a thing
> 7. $15,000,000 for Veterans Employment Training / for when the GI Bill isn't enough
> 8. $435,000,000 for mental health support
> 9. $30,000,000,000 for the Department of Education stabilization fund/ because that will keep people employed (all those zeros can be confusing, that’s $30 BILLION)
> 10. $200,000,000 to Safe Schools Emergency Response to Violence Program
> 11. $300,000,000 to Public Broadcasting / NPR has to be bought by the Democrats
> 12. $500,000,000 to Museums and Libraries / Who knows how we are going to use it
> 13. $720,000,000 to Social Security Admin / but get this only 200,000,000 is to help people. The rest is for admin costs
> 14. $25,000,000 for Cleaning supplies for the Capitol Building / I kid you not it's on page 136
> 15. $7,500,000 to the Smithsonian for additional salaries
> 16. $35,000,000 to the JFK Center for Performing Arts
> 17. $25,000,000 for additional salary for House of Representatives
> 18. $3,000,000,000 upgrade to the IT department at the VA
> 19. $315,000,000 for State Department Diplomatic Programs
> 20. $95,000,000 for the Agency of International Development
> 21. $300,000,000 for International Disaster Assistance
> 22. $90,000,000 for the Peace Corp pg. 148
> 23. $13,000,000 to Howard University pg. 121
> 24. $9,000,000 Misc. Senate Expenses pg. 134
> 25. $100,000,000 to Essential Air carriers pg. 162. This of note because the Airlines are going to need billions in loans to keep them afloat ($100,000,000 is chump change.)
> 26. $40,000,000,000 goes to the Take Responsibility to Workers and Families Act This sounds like it's direct payments for workers pg. 164
> 27. $1,000,000,000 Airlines Recycle and Save Program pg. 163
> 28. $25,000,000 to the FAA for administrative costs pg. 165
> 29. $492,000,000 to National Railroad Passenger Corporation (Amtrak) pg. 167
> 30. $526,000,000 Grants to Amtrak to remain available if needed through 2021 pg. 168 (what are the odds that doesn't go unused) Hidden on page 174 the Secretary has 7 days to allocate the funds & notify Congress
> 31. $25,000,000,000 for Transit Infrastructure pg. 169
> 32. $3,000,000 Maritime Administration pg. 172
> 33. $5,000,000 Salaries and Expensive Office of the Inspector General pg. 172
> 34. $2,500,000 Public and Indian Housing pg. 175
> 35. $5,000,000 Community Planning and Development pg. 175
> 36. $2,500,000 Office of Housing
> What DOES ALL of this have to do with the Virus????
> (Are you angry yet? Well I am!
> I wonder how many Democratic Legislators were responsible for these tag on’s that Nancy Pelosi and Chuck Schumer insisted before agreeing?
> Who in the world continues to elect these idiots!! The endowment for the humanities, you have got to be kidding me!
>
How does this make you feel?
Many of these programs are apart of the Omnibus bill which has always been included in the bill by Trump's and past administrations discretion. The idiots in Washington felt it was a great idea to merge the two together. As usual, Trump outsmarted them and made it an "populist" stance so that other dumb dumbs could fall for the it's suppose to be an bill for Covid line. It wasn't, it was two separate bills.
Oh stop. Your helping those less fortunate as you. You were blessed enough to be able to pay off your loans. Others not so lucky. WE call ourselves a nation but would rather see our fellow citizens struggle and starve because we don't think they deserve not to as out brothers and sisters.
This country is being torn apart by greed, hate, lack of empathy, and a horrifying rebellion against education and intelligence where we believe a lie instead of the truth.
If I have to pay $500/year in taxes so that my neighbor doesn't have to get food stamps because his student loans are sucking the life out of him, so be it. It's the least I can do.
There were students who didn't take the loans while they were in Colleges or Universities by working hard, living below their means, or get help from their parents who also live below their means. They have no debts now. So to be fair, they need to be given 10k for compensation. Do they get it back?
Some people take loans from the banks to open their own businesses and then struggled because the tough economy and the high interest rate. Are they also going to get 10k forgiveness cut into their debts?
People have to have responsibility for their own actions. Before taking a loan, You already knew how much money you are gonna take. You have to estimate if you are capable to pay it back. If you can't, sorry, it's your mistake and don't expect sympathy from anyone.
Student loan rate is low. Students are generally educated, so they should be able to estimate their ability before making their decisions. If they are struggle to the point that they have to rely on food stamps then their math skills were probably worse than a fifth grader, or they had chosen degrees on fields that are not usable in the work market.
The money using to give to those students gonna be enormous. It has to be draw out of somewhere. The working class have to pay more taxes in order to cover for their debts. If not, then the government will have to print out more digital money which will result in shooting up the inflation rate and devalues the currency.
In the end, the American economy is screwed and the majority of Americans will have to take a hit in their financial to support a group of irresponsible people.
The USD exchange rates to the majority of other nations' currencies have already taking a dive. Many of those nations don't even have a strong economy. Wonder why?
The next generation will have debt so we give them more? Sounds like the helpless attitude of someone in severe credit card debt....don’t look and keep charging.
I am sure most of them don't take debt seriously across the board.
Quote:
Originally Posted by Du Ma
Very good.
An office secretary making $40,000/year and with only a HS diploma will now lend a hand to help pay off college loan for her boss/manager with a BA and earning $80,000/year
Good example!
Quote:
Originally Posted by Eeko156
I strongly disagree with the forgiveness part - if they are going to forgive that, what about other bills and responsibilities that people have? They should be forgiven, too - no picking one over the other.
I support pausing payments, as rent and other things were paused.
A VERY small percentage of americans have student loan debt. Many more have CC debt, car payments, rents and mortgages.
Yes, no debt forgiveness. They agreed to pay, just like those with other debts agreed, and they need to pay them.
Quote:
Originally Posted by Eeko156
This ^^^^^^^^^^^^^^^
Not to mention those of us who paid our student debt - do we get our money back?
There is no reward in following the rules/laws/obligations anymore.
Quote:
Originally Posted by Ponderosa
Student debt is an outgrowth of failed policy and is a huge burden on millions of Americans who are unable to achieve home ownership or invest in ways that would benefit them and the greater good. Canceling a part of this debt would be a tremendous economic stimulus with the benefits cascading throughout the economy and aiding everyone, not just the ones who got the debt forgiven.
It wouldn't be anymore of a "stimulus" than giving it to everyone to pay toward their debt. These deadbeats are the ones complaining because it isn't fair that the CEOs get all that money, and they don't, yet here they stand with their hand out, and how far is that for responsible people?
Quote:
Originally Posted by doc1
We took out a home equity loan and lived well beneath our means to pay for our son's education.
Can I get in on that 10G action?
Yeah, you'll get 10G action when it comes to the taxes taken out, but I don't think that is what you were looking for. We delayed buying many things that we wanted until the loans were out of the way.
Quote:
Originally Posted by Vlajos
This is just another step towards the dumbing of america. Giveaways to dead beats.
Higher end welfare.
Quote:
Originally Posted by adelphi_sky
Oh stop. Your helping those less fortunate as you. You were blessed enough to be able to pay off your loans. Others not so lucky. WE call ourselves a nation but would rather see our fellow citizens struggle and starve because we don't think they deserve not to as out brothers and sisters.
This country is being torn apart by greed, hate, lack of empathy, and a horrifying rebellion against education and intelligence where we believe a lie instead of the truth.
If I have to pay $500/year in taxes so that my neighbor doesn't have to get food stamps because his student loans are sucking the life out of him, so be it. It's the least I can do.
No, we aren't helping those less fortunate than us, we're helping people who aren't meeting their financial obligations like we did. The libs are always crying things aren't fair, well, they can this to the list that isn't fair for those that honored their obligations to now have to pay for the deadbeats obligations.
Quote:
Originally Posted by Ponderosa
Forgiving student loans does not add anything to the national debt inasmuch as the money they gave to the students was borrowed in the first place. It's just a ledger adjustment.
On paper that is how it moves, but the reality is that the burden of that amount is moved from those in debt and transferred as a debt to ALL taxpayers, to include many, many, many that have worked hard to pay their student loans off, and to others who didn't go to college because they wanted to remain debt-free.
This isn't popular with most people, so we'll see how it goes.
A 2007 law enables qualified student loan debt of all government ( federal, state, county, local) ito be forgiven in its entirety after a history of 10 years of income- based payments. The collective government is the largest employer in the US and includes Congress critters and public school employees.
This benefit also extends to full time employees of 501 c3 employers. This includes most hospital systems.
It does not discriminate on area of study, GPA, require a degree to have been obtained or require a minimum years of “ public service”.
This program would be key to some reforms I think need to go along with any forgiveness, since the government will never leave the education finance realm.
First, stop the full guarantee of any amount the college requests. Set a cap at tuition rates of the public college in whatever state the university is located. So if you want to attend NYU, you'll need to come up with the difference between that and SUNY. Colleges will need to drop prices to compete and will become more competitive in admissions, hopefully leading to the more expensive colleges being attended by those likely to complete their studies and achieve gainful employment.
Second, use that forgiveness program to encourage employment in certain fields. So if we see the need to encourage education in Healthcare, engineering, etc. Expand the forgiveness program to private employers in those industries, with caps put in place based on income or actual payments made.
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