Help me understand student loan cancellation (cost, dollar, politicians, Michigan)

[AnesthesiaMD]

Imagine thinking 5 year olds are qualified to decide on their gender, but 18 year olds aren't qualified to decide on whether to take out a loan or not.

[albert648]

Originally Posted by Mathguy

The college is already getting that money, the student just doesn't have to pay it back.

And going forward, colleges will raise tuition to get more of that money from future students.

Every form of government subsidy does the same thing. It raises the sticker price. And forgiving student loans is a form of government subsidy and a horrible precedent to set.

Of course Brandon doesn't care, he just wants to pander to communists.

[tinytrump]

Originally Posted by mirage98de

Simple question:

Let’s say brandon forgives $10,000 of each borrowers student loan debt…..

If someone starts college next year and takes out loans will they also get $10,000 forgiven?

Is anyone who wants to go to college going to essentially be getting a $10,000 discount from here on out?

They are like a credit card debt. You just pay and pay and still never goes down

[himain]

I'm sorry but this should not happen. They took the loans out, they need to repay them. It's not my fault you chose butterfly literature and can't get a job to repay that loan..

[Mathguy]

Originally Posted by PullMyFinger

Isn’t he just benefiting the voters he has in his pocket anyway? And at a time when adding more to the debt just makes everything worse. Not very smart IMO.

1. Never believe what a politician says. This is a proposal Biden has dangled many many times.

2. This is likely in response to polling results showing Dems struggling with that demographic and so he's throwing some talk their way.

It's not too hard to imagine how a bunch of college grads facing inflation, housing prices, taxes etc. might not be too happy right now.

[Wapasha]

Originally Posted by mirage98de

Simple question:

Let’s say brandon forgives $10,000 of each borrowers student loan debt…..

If someone starts college next year and takes out loans will they also get $10,000 forgiven?

Is anyone who wants to go to college going to essentially be getting a $10,000 discount from here on out?

Notice how the democrats are never talking about reducing college tuition that's gotten out of control and has outpaced inflation for decades

Instead the democrats want all of us blue collar workers to pay increased taxes to pay off the college student loans of white collar workers

[oceangaia]

What if the feds offered $10K credit to a student but a school is only eligible if it's tuition rates have not increased by more than 2%?

[RMESMH]

Originally Posted by RocketDawg

AOC is pushing for canceling student loans. She's 34, I think, so she graduated college 12 or 13 years ago. She likes electric cars because it's one of her ways of virtue signaling. She went to an expensive private school instead of a more reasonably priced public school.

So - she owns an expensive Tesla, yet wants us to pay off her expensive private school loans. 12 or 13 years is a long time to carry a debt other than a mortgage, so why didn't she forego the Tesla, buy a Prius (still electric), and pay off the debt that she voluntarily agreed to pay back, with interest?

I had student loans, and I was also a co-op student (that's where a student will work one semester with a company, then go to school on alternate semesters. It takes longer, but you gain invaluable experience). I paid my student loans off within two years of leaving undergraduate school.

I just can't understand why people can be as hypocritical as she is, and still want to be given everything.

She's 32.

ETA: Her overall balance in September of 2019 was $19,000 after making a $1,000 plus payment that month (unless she lied about that during a congressional hearing). She may be paid in full by now.

I don't like her, but accuracy is important.

[michiganmoon]

Originally Posted by mirage98de

Simple question:

Let’s say brandon forgives $10,000 of each borrowers student loan debt…..

If someone starts college next year and takes out loans will they also get $10,000 forgiven?

Is anyone who wants to go to college going to essentially be getting a $10,000 discount from here on out?

Reminder that millions of kids put things like spring break, clubs, casino trips, big screen TVs, and etc on student loans.

Dems say pay that off with no reforms.

[albert648]

Originally Posted by oceangaia

What if the feds offered $10K credit to a student but a school is only eligible if it's tuition rates have not increased by more than 2%?

Absolutely not. No way.

You need to get government money OUT of higher ed to make it more affordable.