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73% of anticipated recipients say they expect to spend their student loan debt forgiveness on non-essential items, including travel, dining out and new tech, according to a recent survey from Intelligent.com.
This whole student loan bailout idea used to be a Bernie Sanders thing before it was adopted by the mainstream Democrat Party. Yet we’re told that the far left doesn’t influence mainstream Democrats. Regardless of that, one of my former co-workers, during the Trump years, acted as though the economy was “bad” and that if Trump “really wanted to ignite the economy, he should cancel all student debt.”
Well, now that a subset of that seems to be on the path to happening (regardless of whether or not it’s legal), I guess we’ll see the outcome soon!
But this co-worker wasn’t struggling at all; he just didn’t want to make the payments anymore because there were other things he felt like spending his money on. Keep in mind, we worked in “big tech” together and he and his wife own a home in an area that has become expensive. So it’s not like the student loan payment — that he knowingly took on and wasn’t forced into — was the difference between buying groceries for the month or not.
But hey, this is the modern day Democrat Party for you. They just wanna “stick it to the man.”
Would not be surprised. It's pretty similar to corporations using any tax reductions/stimulus to either have stock buy backs or bonuses as opposed to R&D or employee measures.
TBH- the best way to handle student loans is an interest cap. That is what really kills people when they start with deferrals or go interest only at the start.
The people who have the 'real' student debt totals are also not going to benefit from the 10k write off- that helps people like me with lower debt who have been piddling away on it for 15 years and have it below 10.
TBH- they need to let the loan and higher ed industries fail so there is total over vamp. What people claim they want (academics/reasonable price/etc) is not what they let sway them in actual decisions. If you work with admissions folks, you will learn they want to see amenities, affinity groups, fancy facilities, etc when they take tours/make decisions. So schools provide those and throw another 5k on the sticker to pay for them as they would lose students otherwise. And endless minor course requirements on the school's end and multiple major changes/victory lap years for students just add 25-50% more costs than getting in and out in 4.
This whole student loan bailout idea used to be a Bernie Sanders thing before it was adopted by the mainstream Democrat Party. Yet we’re told that the far left doesn’t influence mainstream Democrats. Regardless of that, one of my former co-workers, during the Trump years, acted as though the economy was “bad” and that if Trump “really wanted to ignite the economy, he should cancel all student debt.”
Well, now that a subset of that seems to be on the path to happening (regardless of whether or not it’s legal), I guess we’ll see the outcome soon!
But this co-worker wasn’t struggling at all; he just didn’t want to make the payments anymore because there were other things he felt like spending his money on. Keep in mind, we worked in “big tech” together and he and his wife own a home in an area that has become expensive. So it’s not like the student loan payment — that he knowingly took on and wasn’t forced into — was the difference between buying groceries for the month or not.
But hey, this is the modern day Democrat Party for you. They just wanna “stick it to the man.”
On top of debt "forgiveness" which is really just a tax including on those that paid back their student debt responsibly, this only encourages higher education to continue increasing prices as the government will just bail them out. At the end of the day, a vote buying scheme that will have the opposite affect as desired.
On top of debt "forgiveness" which is really just a tax including on those that paid back their student debt responsibly, this only encourages higher education to continue increasing prices as the government will just bail them out. At the end of the day, a vote buying scheme that will have the opposite affect as desired.
this. they're not even trying to address the key issues of inflated costs and clueless people signing on to giant loans they'll never repay.
This whole student loan bailout idea used to be a Bernie Sanders thing before it was adopted by the mainstream Democrat Party. Yet we’re told that the far left doesn’t influence mainstream Democrats. Regardless of that, one of my former co-workers, during the Trump years, acted as though the economy was “bad” and that if Trump “really wanted to ignite the economy, he should cancel all student debt.”
Well, now that a subset of that seems to be on the path to happening (regardless of whether or not it’s legal), I guess we’ll see the outcome soon!
But this co-worker wasn’t struggling at all; he just didn’t want to make the payments anymore because there were other things he felt like spending his money on. Keep in mind, we worked in “big tech” together and he and his wife own a home in an area that has become expensive. So it’s not like the student loan payment — that he knowingly took on and wasn’t forced into — was the difference between buying groceries for the month or not.
But hey, this is the modern day Democrat Party for you. They just wanna “stick it to the man.”
This.
If Bernie and the rest of the communists wanted to cancel student debt, they're more than welcome to do so out of their own pockets.
Got to keep the money flowing. That's one reason Biden forgave the loans..so people could have better "credit scores" and go out and spend and get more into debt.
In reality that debt got transferred to the taxpayers because the money has to be paid back by someone.
Good! That will help stimulate the economy more than if they just saved it. Once they have their little splurges, they'll be ready to settle down and buy houses and continue to stimulate the economy. If you take out a loan and pay if off quickly, you're done and the bank gets no more interest. Some of these people have been paying mostly interest for 10 years and they still owe almost the same as the original loan even though they've paid way more than the principal over the years. I don't have a problem with them getting help to pay off the loan when the alternative is to be paying interest on it for the rest of their lives and the banks will make many times over what they would if it were paid off in a more timely manner.
73% of anticipated recipients say they expect to spend their student loan debt forgiveness on non-essential items, including travel, dining out and new tech, according to a recent survey from Intelligent.com.
Well...............................what did one expect?
Giving away money to bums rarely results in careful, well thought out use of those funds. If they had been someone who carefully weighed options rationally, they would not have incurred that debt in the first place!
OF COURSE THEY WOULD BLOW THE DOUGH IRRESPONSIBLY!
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