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While I oppose student loan forgiveness, just call it a done deal.
The US government is going to pay money to reduce individual student loan balances.
The US government holds the debt that students owe for college loans.
Could not the US government simply pay the money they control for the debts they hold, directly to themselves to cut out the middle-man insure all the money goes to loan repayment?
As opposed to mailing out checks and then hoping people use them to retire student loan debt.
Hello? Bueller?
What is wrong with this picture?
You come to realize, politicians are not serious. It is all just a scam.
While I oppose student loan forgiveness, just call it a done deal.
The US government is going to pay money to reduce individual student loan balances.
The US government holds the debt that students owe for college loans.
Could not the US government simply pay the money they control for the debts they hold, directly to themselves to cut out the middle-man insure all the money goes to loan repayment?
As opposed to mailing out checks and then hoping people use them to retire student loan debt.
Hello? Bueller?
What is wrong with this picture?
You come to realize, politicians are not serious. It is all just a scam.
The administration has argued in legal memos that the pandemic is a national emergency that has made it harder for student borrowers to pay back their loans.
We were at sub-4% unemployment pre-pandemic. We are back at sub-4% unemployment. Interest didn't accrue, and payments weren't required. To claim any widespread inability to pay because of the pandemic is the most specious BS possible. And the decree of a fascist.
As someone who went to college with student loans and paid them off many years ago (I'm not that old, I just paid them off as fast as possible) the whole thing is stupid. For one isn't it like a max of $10k? If $10k is going to make that much of a difference in your life then you did not go to college for a real degree. If you did go to college for a legit career and you manage your finances properly then $10k isn't going to do much for you.
I don't know anyone who is in a tough financial situation because of $10k of student loan debt. So the people getting this money will either not really need it or if they do need it they probably tend to make very poor financial and life decisions and will probably do the same with the $10k. Meanwhile a bunch of people who probably never even went to college are going to be paying for it.
While I oppose student loan forgiveness, just call it a done deal.
The US government is going to pay money to reduce individual student loan balances.
The US government holds the debt that students owe for college loans.
Could not the US government simply pay the money they control for the debts they hold, directly to themselves to cut out the middle-man insure all the money goes to loan repayment?
As opposed to mailing out checks and then hoping people use them to retire student loan debt.
Hello? Bueller?
What is wrong with this picture?
You come to realize, politicians are not serious. It is all just a scam.
they're not mailing these people checks.
If you owe $5,000 and qualify, it's wiped out.
If you owe $11,000 and qualify, you'd owe $1,000.
If you weren't poor and got some private school doctorate in gender studies and owe $300,000 but earn $15,000 a year, you'd owe $290,000.
Big boost for the economy. Banks pretty much got their principal back already.
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