Student Loan Debt - NPR - What a Biden Admin may do (3 Viewers)

wardorican · Jan 13, 2021

Interesting interview. It's 11 minutes long.

What a Biden Administration May Do to Address Student Debt | The Takeaway | WNYC Studios

Collectively, Americans have over $1.6 trillion worth of student loan debt.

www.wnycstudios.org

One tidbit was that students with the most debt often have the best means to pay it. Those with the least debt are most likely to go into default. That's backwards from how I'd think of it, outside of Dr's and Lawyers.

SFIDC3 · Jan 22, 2021

J-DONK said:
I'm for wiping out all student debt, but something needs to be done about tuition increases. I don't remember the exact stat, but public state college tuition is up over 200% over the last 20 years. I don't pretend to know why this is happening. I've heard lack of state funding, increased useless administration positions, and the maximum student loan cap increase all listed as the reason why. Tuition increase rates is the real problem. Someone should be able to get a liberal arts degree from a public university, and not have to worry about how to pay off 100k in debt. The large tuition fees also overall hurts the economy. How many people in this country have decided against changing careers because of large student loan debt they would incur?

I totally agree. For god sakes if the federal government regulates just about everything else, you think they could have formed a commission to fix this problem. Because it is important and kids are getting highway robbed in the name of getting an education....its disgusting really....

wardorican · Jan 22, 2021

SFIDC3 said:
I totally agree. For god sakes if the federal government regulates just about everything else, you think they could have formed a commission to fix this problem. Because it is important and kids are getting highway robbed in the name of getting an education....its disgusting really....

some states put caps on tuition increases, but far too little and far too late. The damage was already done.

Mr. Blue Sky · Feb 17, 2021

Unfortunately I’m starting to think i was wrong about this.. I thought for sure that it would be a no-brainer for the Biden/Harris Admin to forgive student debt almost immediately as a way to jump start the post-Covid economy.. But it sounds like Biden’s “centrist” streak is coming out, and he wants no part of it.. As someone who signed my life away to the Federal govt at 16 years old (prior to starting college at 17) - and am STILL paying off student loans in my 40s- This sucks.

wardorican · Feb 17, 2021

Mr. Blue Sky said:
Unfortunately I’m starting to think i was wrong about this.. I thought for sure that it would be a no-brainer for the Biden/Harris Admin to forgive student debt almost immediately as a way to jump start the post-Covid economy.. But it sounds like Biden’s “centrist” streak is coming out, and he wants no part of it.. As someone who signed my life away to the Federal govt at 16 years old (prior to starting college at 17) - and am STILL paying off student loans in my 40s- This sucks.

Going off his recent remarks, he still wants to eliminate $10k, just won't go up to $50k. He'd rather use that money on making community colleges cheaper or free, and other initiatives. I can't fault him for that. Some of it is debt forgiveness, some of it is making it less costly going forward.

Mr. Blue Sky · Feb 17, 2021

wardorican said:
Going off his recent remarks, he still wants to eliminate $10k, just won't go up to $50k. He'd rather use that money on making community colleges cheaper or free, and other initiatives. I can't fault him for that. Some of it is debt forgiveness, some of it is making it less costly going forward.

$10k wont do jack, it would only be a token gesture.

However, i am a fan of compromise, so maybe it’s encoruaging in that they can meet somewhere in the middle of $10k and $50k, maybe they can forgive student debt up to $25k or $30k.. we’ll see.

wardorican · Feb 17, 2021

Mr. Blue Sky said:
$10k wont do jack, it would only be a token gesture.

However, i am a fan of compromise, so maybe it’s encoruaging in that they can meet somewhere in the middle of $10k and $50k, maybe they can forgive student debt up to $25k or $30k.. we’ll see.

That's not what experts say.

https://www.brookings.edu/policy202...nt-debt-and-whod-benefit-if-it-were-forgiven/

The majority of larger loan holders are wealthier folks.

Experts weigh in on Biden’s support of $10,000 in student debt forgiveness

Biden is now expected to call on Congress to forgive $10,000 in student debt for all borrowers — a step down from what leaders of his own party have called for.

www.cnbc.com

.

But Walker says the universal $10,000 figure strikes a good balance of providing significant relief to all borrowers while also helping those who are struggling the most.

″$10,000 would benefit everyone, which in and of itself is a form of stimulus which would help in the current economic environment,” he says. “And the pain of student loan payments are disproportionately felt by those who borrow a relatively small amount. Borrowers who owe $10,000 or less tend to be the ones who are closest to the point of default, who are struggling the most to make payments.”

He argues that while it may seem “counterintuitive,” borrowers with the highest student debt burdens are not always the individuals who need the most assistance.

“When it comes to people who owe $50,000 or more, there are definitely some people in there who are struggling,” says Walker. “But they often tend to be graduate and in particular, professional school graduates, who often have relatively good financial prospects.”

Mr. Blue Sky · Feb 17, 2021

wardorican said:
That's not what experts say.

https://www.brookings.edu/policy202...nt-debt-and-whod-benefit-if-it-were-forgiven/

The majority of larger loan holders are wealthier folks.

Experts weigh in on Biden’s support of $10,000 in student debt forgiveness
Biden is now expected to call on Congress to forgive $10,000 in student debt for all borrowers — a step down from what leaders of his own party have called for.
www.cnbc.com
.

I dont normally disagree with ‘experts’, since they typically have more experience and insight on their field of study yet an i do... HOWEVER, on this issue, i do have firsthand knowledge, and anecdotally speaking, my personal experience (your mileage may vary)- is that i was furloughed early on in the pandemic.. after a tough year, things are finally starting to get better and I’m climbing out.. but over the last year, $10k is less than i had to take out in loans, and in running up credit cards, just to get by..... So of course $10k isnt an unsubstantial amount of money, I’m not arguing that at all- it’s just that, in the case of student loan forgiveness- the phrase “GO BIG OR GO HOME” has never seemed more appropriate.

Goatman saint · Feb 17, 2021

I will say this. Biden was a better than trump choice, not an I want Biden choice. There was a sizable young group that was looking for help out of this administration. That is now being double spoke and worked away just like many things politicians do. Just like Biden pushing to get also kids back in school 5 days a week. Teachers so important, yet eh no vaccine importance. People are noticing the double speak, and Democrats don’t have have near the strength to hold onto a majority they think they do.

zztop · Mar 1, 2023

Supreme Court appears skeptical of Biden’s student debt relief plan

A majority of justices appeared dubious about the Biden administration’s pandemic-related legal justification for the sweeping debt relief program.

www.politico.com

Chief Justice John Roberts emerged as one of the most hostile voices on the court towards the debt relief plan, repeatedly invoking its overall cost and raising questions about its fairness.

SaintForLife · Mar 1, 2023

coldseat · Mar 1, 2023

SaintForLife said:

The two group don't even have standing to bring the case and the text of the law is clear as day. Roberts, in his questions and responses, was throwing out emotional justification after emotional justification for doing what he and the conservatives are clearly going to do. They're side stepping the law to rule how they want too. It's a pattern with this court.

Screw John Roberts. He's made this country worse.

SaintForLife · Mar 1, 2023

coldseat said:
The two group don't even have standing to bring the case and the text of the law is clear as day. Roberts, in his questions and responses, was throwing out emotional justification after emotional justification for doing what he and the conservatives are clearly going to do. They're side stepping the law to rule how they want too. It's a pattern with this court.

Screw John Roberts. He's made this country worse.

What's the text in the law that gives him the authority? Why would Pelosi say the president can't do it?

coldseat · Mar 1, 2023

SaintForLife said:
What's the text in the law that gives him the authority? Why would Pelosi say the president can't do it?

Here's the law, clear as day. I don't know why Pelosi said the president couldn't do it. I disagree with her.

https://www.govinfo.gov/content/pkg/USCODE-2021-title20/pdf/USCODE-2021-title20-chap28-subchapIV-partG-1-sec1098bb.pdf

MT15 · Mar 1, 2023

SaintForLife said:

What would be the point of posting this tweet? A. The ruling hasn’t happened yet and B. Nobody on the left has responded to the ruling that hasn’t happened yet.

Wouldn‘t posting this fall into the category of serving to shut down any discussion, as you recently chided me for? This is an attempted dunk over a reaction that hasn’t happened to an event that hasn’t occurred.

Honestly, what is the point here?

MT15 · Mar 1, 2023

SaintForLife said:
What's the text in the law that gives him the authority? Why would Pelosi say the president can't do it?

Because people can have differing opinions?

SaintForLife · Mar 7, 2023

MT15 said:
What would be the point of posting this tweet? A. The ruling hasn’t happened yet and B. Nobody on the left has responded to the ruling that hasn’t happened yet.

Wouldn‘t posting this fall into the category of serving to shut down any discussion, as you recently chided me for? This is an attempted dunk over a reaction that hasn’t happened to an event that hasn’t occurred.

Honestly, what is the point here?

Can we only post tweets about things that have already happened? Greenwald predicting what the response could be to the case is trying to shut down any discussion?

MT15 · Mar 7, 2023

SaintForLife said:
Can we only post tweets about things that have already happened? Greenwald predicting what the response could be to the case is trying to shut down any discussion?

Yep, a pre-emotive strike. It’s okay when you do it, though, lol.

J-DONK · Mar 8, 2023

Tucker Carlson has talked multiple times about student loans.

This clip is interesting. Tucker talks about how student debt is delaying marriage, and children. How Republicans SHOULD care about this issue. Would any conservative on the board like to argue against Carlson's points? Why aren't conseratives offering any counter solutions?

Tucker Carlson calls out Republicans over student loan debt: 'This is hurting the country badly'

Tucker Carlson called on Republican lawmakers to do something about student loan debt Friday, saying that the burden is impacting families and preventing new families from being formed.

www.foxnews.com

Student Loan Debt - NPR - What a Biden Admin may do (3 Viewers)

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