Student Loan Forgiveness (MERGED) (1 Viewer)

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    Rumors floating around is that today President Biden will be canceling a portion of student loans. That’s fine and all, but what’s your take on it? If it truly is only $10k in forgiveness, is that enough to make much of an impact? Is student loan forgiveness just tax payer funded student loan bribery?

    Should be interesting to see how this plays out.
     
    A lot of people must be trying to log on to their student loan payment site because mine appears to have crashed, lol. This will be welcomed news for a lot of middle class families.

    Fox News is in a full melt down over this student loan forgiveness. I'd be curious how many of their followers are going to benefit from this and are secretly happy.
     
    I don't have a horse in this race given I did not go to college. I don't see a reason not to, as long as it can be paid for responsibly. I know several friends and coworkers who are just dumping money into those student loans (my closest friend has a doctorate and that bill is a house note), and having that extra money should mean they would have more to put into the economy, which I would see as a net benefit.

    I will also agree that making college free is a net benefit to the entire country. Even if (spitballing) you wanted to let state universities be free and put some sort of credit to private universities so people still had that choice.
     
    Outside of the contrived moral argument that paying off the debt builds character or whatever- what are the compelling reasons not to forgive the debt?

    I have never understood why it cannot be treated like any other type of debt that can be removed through declaring bankruptcy.

    As someone who had over $80k in student loan debt after undergrad and graduate school, I am painfully aware that the legit programs out there for relief are incredibly narrow in scope, and very very few qualify. I have made more than the min payment for years, typically around $1500/mo, and I really wish I could have been paying off a mortgage with that money rather than renting, at the age of 50.

    I just paid off all remaining student loans recently, a little over $33k, with an inheritance windfall. It felt great, but again, I wish it could have gone towards owning my own place.

    I would never begrudge anyone in the future from benefitting from legislature that changes things for them, even though it would not retroactively benefit me.
     
    ah yes. The S word. I guess he forgot about that tax cut they gave corporations



    Ah, yes. The highest earners making... let me see here...


    Borrowers who earn less than $125,000 a year, or families earning less than $250,000, would be eligible for the $10,000 loan forgiveness, Biden announced in a tweet. For recipients of Pell Grants, which are reserved for undergraduates with the most significant financial need, the federal government would cancel up to an additional $10,000 in federal loan debt.

    ... making less than Mitch McConnell.
     
    I am all for student debt forgiveness on the basis of fraud.

    A university education isn't what it used to be and those poor kids were seriously defrauded in a very large percentage of the total.

    Real education is rapidly moving away from the university system. Only technical or professional training requiring certification and/or transcripts from an accredited school is worth pissing money away in a university.

    This is a pretty extreme view, IMO. Fraud is a strong word to use for a traditional university education. I went to a large public university and got a top notch education with minimal debt. But that was a long time ago, so let’s look more recently.

    Both my children did the same, one a BA in Communications, the other a BS, and MS in physics. Three different public universities. One is now 36 the other 39. Both have careers that wouldn’t have been possible without those degrees. Both graduated with student debt in the $20k to $30k range. Both have paid this debt off and one is also on their second home. The other rents by choice.

    My degree was in a science, but it also taught me how to think and reason. Sure, you don’t have to go to university to get that, but it also exposed me to a lot of different people and ways of thinking in a short time span in a very effective way. It may not be for everyone, but saying it’s for no one is a huge mistake.

    oh, and the public university I went to as well as the kid who got the BA in Communication has frozen tuition for the last five or six years.

    For profit colleges need to be regulated out of existence, though. They actually are a fraud. I know you know which one was famously shut down not all that long ago. 🤔
     
    I would be more receptive if universities were not infested with postmodern crap. As it stands, I don't care to fund the demise of Western civilization with our tax dollars. We do too much of that already.

    That's where the fraud is. Students go into college with healthy brains. They leave confused about which bathroom to use.
     
    I would be more receptive if universities were not infested with postmodern crap. As it stands, I don't care to fund the demise of Western civilization with our tax dollars. We do too much of that already.

    That's where the fraud is. Students go into college with healthy brains. They leave confused about which bathroom to use.

    Another extreme view. You guys are buying into a narrative. I work with recent college grads almost exclusively. I have not met one yet that is as you describe. If you believe what you said, then you are taking some extreme cases, and magnifying them.

    The current generation, the one that has graduated within the last 5-7 years, are a great group, overall, at least in my experience. I have more personnel issues with my middle age and older team members. And it’s not even close. I find the recent college grads to be cheerful, reliable and industrious. They are team oriented and engaged.
     
    Lol @ "socialism." You won't find these guys complaining about the billions of dollars in socialism we pay to farmers... which only increased because of Trump's tariffs. Conservatives in a handful of farming states dictate legislation by their disproportionate representation in the Senate and the rest of us have to fund the results of their jingoistic foreign policy.
     
    The Post Editorial Board isn't happy either. They event went all Fox News at the end of their scathing rebuke.

    Mr. Biden’s student loan decision will not do enough to help the most vulnerable Americans. It will, however, provide a windfall for the upper-middle class and wealthy — with American taxpayers footing the bill.

    You have to wonder if the Post believes that the only type of policy that is worthy is the type that only helps the "most vulnerable". I'm going to go ahead and guess that they've likely come out in favor of many government expenditures/debt cancelations that had nothing to do with helping the "most vulnerable". And how exactly would they know that this student loan debt cancelation isn't going to help many people that could be considered the "most vulnerable"?

    Also, a windfall? So $10,000 in debt that you don't have to pay, but spent years ago on education is considered a "windfall"? Okay. :rolleyes:

     
    I would be more receptive if universities were not infested with postmodern crap. As it stands, I don't care to fund the demise of Western civilization with our tax dollars. We do too much of that already.

    That's where the fraud is. Students go into college with healthy brains. They leave confused about which bathroom to use.
    Man I really wish there was a place you could go where you could be exposed to new ideas and have your biases challenged so you could have a healthier more well-rounded way to view the world..,
    Oh wait
     
    As a taxpayer who spent 20 years being fiscally responsible and diligently paying back my student loans that I chose to take out and enjoyed the benefit of, I hate this program. But as the husband of someone with over $10,000 of outstanding grad school debt, I'm okay with it.
    As a taxpayer who paid for his undergrad out of pocket and waited for his masters until he could pay cash for it, and deferred my doctoral acceptance for a year because I can’t yet pay for that, and also helped pay back $40,000 worth of his wife’s student loans…

    I’m completely fine with this program. It’s helps other people and helps the overall economy.

    Sure I’d like an extra 10k, but in the grand scheme of life 10k doesn’t do much for me. $10k does a ton for people with $10k or less worth of student loan debt.
     
    I would be more receptive if universities were not infested with postmodern crap. As it stands, I don't care to fund the demise of Western civilization with our tax dollars. We do too much of that already.

    That's where the fraud is. Students go into college with healthy brains. They leave confused about which bathroom to use.
    Not sure where you went to college or which ones you're looking into, but mine wasn't like that.

    And the discussion isn't just about Fraud, or if you like a program or not, it's more about the idea that government underfunded Universities for too long, and passed the buck to the less educated and able populace. Blame the students, and their parents, if you want, but everyone sees it as an investment into their future.
     

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