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.
     
    Another way to say what is true:

    22B0F370-E3E5-4642-9257-D97A28896C0D.jpeg
     
    It was only a matter of time.


    Folks on both sides of the aisle are ticked off, and this might have caused more disappointment among Democrats than planned.


    As expected. American’s narrative of rugged individualism and personal responsibility means you payoff the debts you owe. But I also think there’s a moral justification for wiping interest.

    I see another Biden blunder by paying off principle. There was a better way to do this.
     
    I see the comparing of the PPP loans to student loans, can someone explain how a voluntary loan application is the same as a PPP loan? One was voluntarily taken out by an individual for personal gain. The PPP was applied for and given because the government forcibly shut your business down.
    Instead of the government figuring out a way to pay those that were now suddenly unemployed, they decided they would use employers as the middle men. I hated it, hate it still and think it was such a stupid move that is ripe for corruption (I have been right) but we, as small business owners, didn't have a say in the matter. It was either starve and your employees starve or take a loan in order to pay them while you are shut down through no fault of your own.

    If we want to discuss members of congress not being eligible, I am all ears but that should also apply to members of congress student loans, should it not?

    If you want to discuss not allowing members of congress to have private businesses while serving, we can have that discussion as well, but to act like the forgiveness of a loan forced upon you by the government because that very government shut your private business down is just propaganda. Did any Dems take PPP loans?

    I get it, the midterms look bad, It is time to buy some votes. I am curious on what the idiot Reps try and do before November to steal some of the bought votes.
     
    I see the comparing of the PPP loans to student loans, can someone explain how a voluntary loan application is the same as a PPP loan? One was voluntarily taken out by an individual for personal gain. The PPP was applied for and given because the government forcibly shut your business down.
    Instead of the government figuring out a way to pay those that were now suddenly unemployed, they decided they would use employers as the middle men. I hated it, hate it still and think it was such a stupid move that is ripe for corruption (I have been right) but we, as small business owners, didn't have a say in the matter. It was either starve and your employees starve or take a loan in order to pay them while you are shut down through no fault of your own.

    If we want to discuss members of congress not being eligible, I am all ears but that should also apply to members of congress student loans, should it not?

    If you want to discuss not allowing members of congress to have private businesses while serving, we can have that discussion as well, but to act like the forgiveness of a loan forced upon you by the government because that very government shut your private business down is just propaganda. Did any Dems take PPP loans?

    I get it, the midterms look bad, It is time to buy some votes. I am curious on what the idiot Reps try and do before November to steal some of the bought votes.
    Well, when they make statements like "If You borrow money, you pay it back, period." Things like PPP forgiveness will come up.
    No matter how you try to justify it, they took a loan and didn't pay it back.. Thy did't have to take it. but they did because they knew they had the power to make sure it was forgiven. I laugh at the "but thats different" statements yall use to justify the hypocrites...
     
    As expected. American’s narrative of rugged individualism and personal responsibility means you payoff the debts you owe. But I also think there’s a moral justification for wiping interest.

    I see another Biden blunder by paying off principle. There was a better way to do this.
    So some are distancing themselves from that, while some republicans are distancing themselves from Pro-Life stances... sounds like politicians are playing politics, imagine that...lol
     
    I see the comparing of the PPP loans to student loans, can someone explain how a voluntary loan application is the same as a PPP loan? One was voluntarily taken out by an individual for personal gain. The PPP was applied for and given because the government forcibly shut your business down.
    Instead of the government figuring out a way to pay those that were now suddenly unemployed, they decided they would use employers as the middle men. I hated it, hate it still and think it was such a stupid move that is ripe for corruption (I have been right) but we, as small business owners, didn't have a say in the matter. It was either starve and your employees starve or take a loan in order to pay them while you are shut down through no fault of your own.

    If we want to discuss members of congress not being eligible, I am all ears but that should also apply to members of congress student loans, should it not?

    If you want to discuss not allowing members of congress to have private businesses while serving, we can have that discussion as well, but to act like the forgiveness of a loan forced upon you by the government because that very government shut your private business down is just propaganda. Did any Dems take PPP loans?

    I get it, the midterms look bad, It is time to buy some votes. I am curious on what the idiot Reps try and do before November to steal some of the bought votes.

    I have no clue how you can compare PPP to student loan forgiveness. PPP was $1B of grants to businesses that had zero need to show loss of revenue or forced closure. Loan forgiveness is half that, direct to individuals, and clearly in debt.

    You had W-2 employees who got zero while sole-proprietors got 10s of thousands of dollars. Look at that list of politicians who got 6 and 7 figure grants. Lots of people with zero impact got money like that. I know several that fall into that category, people making 6 figures who got 5 figure grants.

    The federal government should claw back PPP grants from businesses that can’t show a need.

    We should return to nearly free undergraduate education and not debt trap people.
     
    I see the comparing of the PPP loans to student loans, can someone explain how a voluntary loan application is the same as a PPP loan? One was voluntarily taken out by an individual for personal gain. The PPP was applied for and given because the government forcibly shut your business down.
    Instead of the government figuring out a way to pay those that were now suddenly unemployed, they decided they would use employers as the middle men. I hated it, hate it still and think it was such a stupid move that is ripe for corruption (I have been right) but we, as small business owners, didn't have a say in the matter. It was either starve and your employees starve or take a loan in order to pay them while you are shut down through no fault of your own.

    If we want to discuss members of congress not being eligible, I am all ears but that should also apply to members of congress student loans, should it not?

    If you want to discuss not allowing members of congress to have private businesses while serving, we can have that discussion as well, but to act like the forgiveness of a loan forced upon you by the government because that very government shut your private business down is just propaganda. Did any Dems take PPP loans?

    I get it, the midterms look bad, It is time to buy some votes. I am curious on what the idiot Reps try and do before November to steal some of the bought votes.
    Not very many businesses were forcibly shut down, in my state they requested it, but there was no enforcement at all, and there were so many exceptions that it was easy to fit into one. Now our business volume definitely went down, by about 33% for the first part of the pandemic and we did take a small PPP loan, but we knew businesses in our area that didn’t take one. They weren’t mandatory.

    It was a good benefit, but you have to be a raging hypocrite to complain about a $10-$20k student loan forgiveness after your business just took a huge amount of money and knew it didn’t have to be paid back. Especially if you educate yourself about the predatory loan practices that have been victimizing those who took out student loans.
     
    I have no clue how you can compare PPP to student loan forgiveness. PPP was $1B of grants to businesses that had zero need to show loss of revenue or forced closure. Loan forgiveness is half that, direct to individuals, and clearly in debt.

    You had W-2 employees who got zero while sole-proprietors got 10s of thousands of dollars. Look at that list of politicians who got 6 and 7 figure grants. Lots of people with zero impact got money like that. I know several that fall into that category, people making 6 figures who got 5 figure grants.

    The federal government should claw back PPP grants from businesses that can’t show a need.

    We should return to nearly free undergraduate education and not debt trap people.
    We did have to prove need for our PPP loan. We had to divulge payroll for the first one, and guarantee that the money went to payroll to get forgiveness. For the second one we had to show a decrease of over 25% (IIRC) in revenue for a quarter compared to pre-pandemic. Obviously people abused the process, but I would think it could come back to bite them if the Feds ever decided to audit.
     
    We did have to prove need for our PPP loan. We had to divulge payroll for the first one, and guarantee that the money went to payroll to get forgiveness. For the second one we had to show a decrease of over 25% (IIRC) in revenue for a quarter compared to pre-pandemic. Obviously people abused the process, but I would think it could come back to bite them if the Feds ever decided to audit.

    The first one was free money and you could shift funds to show the money went to payroll. Yes, the second grant was 25% revenue loss. Lots of people couldn’t show that and the second program was much smaller.
     
    Well, when they make statements like "If You borrow money, you pay it back, period." Things like PPP forgiveness will come up.
    No matter how you try to justify it, they took a loan and didn't pay it back.. Thy did't have to take it. but they did because they knew they had the power to make sure it was forgiven. I laugh at the "but thats different" statements yall use to justify the hypocrites...
    Why did they take the loan?
     
    Not very many businesses were forcibly shut down, in my state they requested it, but there was no enforcement at all, and there were so many exceptions that it was easy to fit into one. Now our business volume definitely went down, by about 33% for the first part of the pandemic and we did take a small PPP loan, but we knew businesses in our area that didn’t take one. They weren’t mandatory.

    It was a good benefit, but you have to be a raging hypocrite to complain about a $10-$20k student loan forgiveness after your business just took a huge amount of money and knew it didn’t have to be paid back. Especially if you educate yourself about the predatory loan practices that have been victimizing those who took out student loans.
    What was done about the predatory loan practices? What is being done about the every inflating cost of college? If college is some important in order to justify that cost, why is there a need for loan repayment? If you went to college in order to make more money then someone lied to you, correct? Are you saying the system was set up as a scam?
     
    I have no clue how you can compare PPP to student loan forgiveness. PPP was $1B of grants to businesses that had zero need to show loss of revenue or forced closure. Loan forgiveness is half that, direct to individuals, and clearly in debt.

    You had W-2 employees who got zero while sole-proprietors got 10s of thousands of dollars. Look at that list of politicians who got 6 and 7 figure grants. Lots of people with zero impact got money like that. I know several that fall into that category, people making 6 figures who got 5 figure grants.

    The federal government should claw back PPP grants from businesses that can’t show a need.

    We should return to nearly free undergraduate education and not debt trap people.
    I have a sneaky, almost conspiracy theory type feeling that is why we just got 80K new IRS agents on deck.

    I am all for it taking it back and investigating fraud. I remember the fiasco with Ruths Chris Streak house and their PPP loan.
     
    What was done about the predatory loan practices? What is being done about the every inflating cost of college? If college is some important in order to justify that cost, why is there a need for loan repayment? If you went to college in order to make more money then someone lied to you, correct? Are you saying the system was set up as a scam?
    The order signed by Biden eliminates some of the worst predatory loan practices. You should read it, it’s easy to find. There are definitely scam colleges out there. Trump University, ITT Tech come to mind, they have both been shut down. The rising costs of state colleges needs to be addressed by the states mostly. It was Republican administrations that cut federal college funding though. If more democrats are elected I would imagine something will be done about the high cost of college/trade schools. Glad you’re on board!
     
    I have a sneaky, almost conspiracy theory type feeling that is why we just got 80K new IRS agents on deck.

    I am all for it taking it back and investigating fraud. I remember the fiasco with Ruths Chris Streak house and their PPP loan.
    The 80k IRS agents is a total lie, you know that right? 🤦‍♀️

    The 80k hires are over 10 years, the IRS will lose about 60k employees to retirement within the next 5 years. R administrations had cut IRS funding to the point that they cannot really enforce anymore so they are adding about 20k employees which will bring them up to previous staffing levels. Not all the hires are agents, only a tiny fraction are. Most of the hires will be IT, and the rest are distributed throughout the agency.

    Your sources are lying to you, sigh, again.
     
    I see the comparing of the PPP loans...
    I'll help you out on this one. Forget the PPP loan comparison and just compare student loan debt forgiveness to any other expenditure by the feds including stuff I already mentioned like farm subsidies or the trillions we sunk into Middle Eastern wars. Or any and all federal aid that goes to poor southern states that barely tow the line in terms of benefit and productivity to the country as a whole.

    Anyway... the 'what caused the need for PPP loans' and '80k IRS agents' are straight out of the Benny Shapiro script. Come on, man. We already have SFL for that.
     
    Why did they take the loan?
    Because they wanted the money..
    Do you think it is fair that some people got paid for not working and others had to come to work to get paid? Thats the same argument that people are using against the Student loan forgiveness... Am i wrong?
     
    The 80k IRS agents is a total lie, you know that right? 🤦‍♀️

    The 80k hires are over 10 years, the IRS will lose about 60k employees to retirement within the next 5 years. R administrations had cut IRS funding to the point that they cannot really enforce anymore so they are adding about 20k employees which will bring them up to previous staffing levels. Not all the hires are agents, only a tiny fraction are. Most of the hires will be IT, and the rest are distributed throughout the agency.

    Your sources are lying to you, sigh, again.
    Did you REALLY think he looked into that before he posted? lol.. He's just parroting what he has heard...
     

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