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3. Here are some simple solutions. Tie interest rates to exactly what the feds rate is. It makes no sense that a poor student has to pay a higher rate than the banks who already have money and are just trying to make more. Also state funding of higher Ed should return to prior levels.
Or maybe STOP all the useless Liberal Arts degrees which do NOT pave the way for a better job and STOP all the hoopla abut how "important" getting a degree is and how much you can make.
Republican plans to give free handouts to business owners are ok.
Democrats plan to give a little bit of help to regular working people is not.
Please explain why? Also do not argue “people chose to take out student loans it’s their responsibility”. Businesses can file bankruptcy to get out of their obligations, student loan borrowers can not. So why is only one group subject to responsibility? I have had employers short me about over 10k in the past 3 years, but they can also withhold recommendations or give me a bad one so it makes it hard to fight, especially with legal fees. Business owners can be just as irresponsible as college students, so why are the loan standards different?
"So here’s what you are saying.
Republican plans to give free handouts to business owners are ok."
No, it is what YOU are saying.
I think you need to do some research and find out the difference between an "incentive" and a "hand out".
"For months after he had entered office, President Joe Biden had punted on his campaign promise of forgiving up to $10,000 in student loans."
A promise is a promise ,yes?
It would be futile to try to engage Republicans on any issue. Use the pen. They hate legislation that benefits everyone like ACA.
wait, so now a campaign promise, no matter whether legal or not or even within the purview of the promiser, it's the promise/claim to get votes that matters, not the underlying correctness of the claim.
So, if a Republican runs in 2024 on "we're going to balance the budget" and wins, you'll be OK with the POTUS fulfilling that promise and you expect the Congress to pass the budget he/she proposes that is balanced. And if they won't, you're OK with the POTUS vetoing it and then using EO's to force a balanced budget.
This is what Biden promised and since the people elected him into office.....well you can't complain.
And his EO completely restructures student loans going forward....no need for any more bailouts.
Loans will be forgiven after 10 years of reduced payments and loans will be interest free.
Very similar structure to Obamacare...the lower income folks will get big subsidies.
It's evening out the playing field....
This is what Biden promised and since the people elected him into office.....well you can't complain.
And his EO completely restructures student loans going forward....no need for any more bailouts.
Loans will be forgiven after 10 years of reduced payments and loans will be interest free.
see, that's the part that's been clear to everyone except the "ZOMG THANKGAWD my student loans are being wiped out!" imbeciles ... Biden clearly cannot do that by EO. It would have to pass Congress.
wait, so now a campaign promise, no matter whether legal or not or even within the purview of the promiser, it's the promise/claim to get votes that matters, not the underlying correctness of the claim.
So, if a Republican runs in 2024 on "we're going to balance the budget" and wins, you'll be OK with the POTUS fulfilling that promise and you expect the Congress to pass the budget he/she proposes that is balanced. And if they won't, you're OK with the POTUS vetoing it and then using EO's to force a balanced budget.
If they are all the same party then yes, Congress will go along with it.
You don't see Pelosi objecting to Biden wiping out $600-$900 billion of taxpayer money do you ?
(estimates are still coming in and each new one is higher than the last).
Don't get mad at me because you don't understand how the system works. I've already explained it a few times, but here we go again.
The PPP loans came from a law passed by the legislative branch of our government and were designed to be forgiven if certain conditions were met. It was a program created to keep businesses afloat after the government shut them down and reduced their ability to do business. It was then signed by the President and became law. Now, you can disagree all you want with how the law was carried out, the intent of the law, or even the fact that the law exists, but it went through the proper process and is working pretty much as intended.
The Student Loan Forgiveness plan is pretty much the opposite. It has not gone through the legislative branch, which is where any program which spends taxpayer money must originate under the rules of our nation. It is a vote-buying scheme by a President who is desperate to save his party after two years of running our country into the ground.
Now, if congress were to pass a bill that actually did something to address the high cost of secondary education, I'd be at least willing to look at it on its merits. As long as the "solution" didn't involve fleecing the taxpayers and actually lowered the cost, I'd support it. I do not support Student Loan Forgiveness because a) it isn't freaking legal the way Biden is trying to do it, b) it does absolutely nothing to address the cost of secondary education, c) it passes other people's debt onto the backs of the taxpayer, and d) because people voluntarily took those loans and are now complaining about having to pay them back as they promised to do (yes, it's a valid argument no matter what you think).
I understand the difference between an executive order. Let the Supreme Court overturn it then. Put it on congress to pass it and let the public decide if congress really represents their interest when they pass the PPP at the drop of a hat but do nothing with student loans.
I am fine with people having to pay back loans. However businesses can discharge loans through bankruptcy. You can’t do that with student loans. Again the PPP is on the back of the taxpayers. So again if you are ok with the PPP in theory but not student loan forgiveness you show no consistency. Also we haven’t even talked about the bank bailouts and years of free money for Wall Street through quantitative easing.
Even if it is challenged and goes to the SC it will be way after elections so this is a brilliant move of pandering for votes.
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