Student Loan Forgiveness (MERGED) (1 Viewer)

[el caliente]

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.

 

[Farb]

If the student loans are a hand out, so was the PPP

Also, you do realize majority of colleges in the US are public universities (over 70%). Asking them to help with the bail out would just mean the gov't moving money around anyway.. Gv't give more money to the university, then the university turn around and give it back to the gov't?

If i paid my student loan off, then later they offered forgiveness, i am mad because its not fair.
If i worked during the pandemic with no time off, but the company my neighbor worked for sent them home, got a PPP loan and pad them while they were off or for working much reduced hours, i am mad because its not fair....

No the PPP was not hand out. It was a reimbursement for forcing citizens to close their business if they didn't meet some arbitrary standard made up by bureaucrats.

 

[cuddlemonkey]

https://www.forbes.com/sites/dereks...-who-benefits-most-and-least/?sh=7a0e75906413
Favors high-income Americans: Despite the $125,000 income cap, research shows the White House plan still slightly favors higher-income Americans: Analysis of a $10,000 blanket relief program published Tuesday by the Penn Wharton Budget Model found 69.79% of overall debt forgiveness would go to the top 60% of Americans by income, while individuals who make between $82,400 and $141,096—placing them between the 60th and 80th percentile—would receive the greatest share of overall forgiveness, at 28.1%, though the additional relief for Pell grant recipients should bring further benefit to lower-income borrowers.
Generally, higher-earning Americans hold more student loan debt, with the top 10% of individuals holding 17.4% of all debt compared to 13.8% for the bottom 20% of earners, according to the most recent installment of the Federal Reserve’s Survey of Consumer Finances in 2019."

Did Joy Reid on MSNBC tell you it helps poor struggling just out of college kids? You might want to do some research instead of just accepting what your sources tell you. But, as usual, the DNC loves to pretend it is helping the poor while really pumping up its donors.

And yes, I do consider that buying votes.

That's twice you used that link. Did you bother to read the Penn Wharton article linked? If so, you would have seen this summary:

"We estimate that forgiving federal college student loan debt will cost between $300 billion and $980 billion over the 10-year budget window, depending on program details. About 70 percent of debt relief accrues to borrowers in the top 60 percent of the income distribution."

This was written the day before details were released. They put out another analysis after the fact with the following summary:

"President Biden’s new student loan forgiveness plan includes three major components. We estimate that debt cancellation alone will cost up to $519 billion, with about 75% of the benefit accruing to households making $88,000 or less. Loan forbearance will cost another $16 billion. The new income-driven repayment (IDR) program would cost another $70 billion, increasing the total plan cost to $605 billion under strict “static” assumptions. However, depending on future IDR program details to be released and potential behavioral (i.e., “non-static”) changes, total plan costs could exceed $1 trillion."

 

[MT15]

https://www.forbes.com/sites/dereks...-who-benefits-most-and-least/?sh=7a0e75906413
Favors high-income Americans: Despite the $125,000 income cap, research shows the White House plan still slightly favors higher-income Americans: Analysis of a $10,000 blanket relief program published Tuesday by the Penn Wharton Budget Model found 69.79% of overall debt forgiveness would go to the top 60% of Americans by income, while individuals who make between $82,400 and $141,096—placing them between the 60th and 80th percentile—would receive the greatest share of overall forgiveness, at 28.1%, though the additional relief for Pell grant recipients should bring further benefit to lower-income borrowers.
Generally, higher-earning Americans hold more student loan debt, with the top 10% of individuals holding 17.4% of all debt compared to 13.8% for the bottom 20% of earners, according to the most recent installment of the Federal Reserve’s Survey of Consumer Finances in 2019."

Did Joy Reid on MSNBC tell you it helps poor struggling just out of college kids? You might want to do some research instead of just accepting what your sources tell you. But, as usual, the DNC loves to pretend it is helping the poor while really pumping up its donors.

And yes, I do consider that buying votes.

See cuddles’ post, lol. I will never figure out why you continue to believe, time after time, people who are lying to you. You just always go with the confirmation bias, while accusing me of not knowing what I am talking about. You should delete this post, since you’ve been found out.

And, just so you know, I went with the official White House figures they released. I actually posted where I got the information, had you actually bothered to read what I posted.

 

[Bigdaddysaints]

No the PPP was not hand out. It was a reimbursement for forcing citizens to close their business if they didn't meet some arbitrary standard made up by bureaucrats.

People were given money from the gov't they didn't have to pay back. what it was for is irrelevant, they didn't have to take it. its only different to you because its shows the hypocracy that you accept one and not the other. You say the PPP was to help people. Ok, well, student loan forgiveness helps people too, but mostly the middle and lower class, we can't have that.
Take a PPP loan, pay your employees since they can't work, good. extra unemplyment because you can't work "BAD!!!"
Don't pay back PPP loan because it helped people good. Student loan forgiveness because it might help people "BAD!!!"

 

[Farb]

That's twice you used that link. Did you bother to read the Penn Wharton article linked? If so, you would have seen this summary:

"We estimate that forgiving federal college student loan debt will cost between $300 billion and $980 billion over the 10-year budget window, depending on program details. About 70 percent of debt relief accrues to borrowers in the top 60 percent of the income distribution."

This was written the day before details were released. They put out another analysis after the fact with the following summary:

"President Biden’s new student loan forgiveness plan includes three major components. We estimate that debt cancellation alone will cost up to $519 billion, with about 75% of the benefit accruing to households making $88,000 or less. Loan forbearance will cost another $16 billion. The new income-driven repayment (IDR) program would cost another $70 billion, increasing the total plan cost to $605 billion under strict “static” assumptions. However, depending on future IDR program details to be released and potential behavioral (i.e., “non-static”) changes, total plan costs could exceed $1 trillion."

So, what is 25% of 1 trillion?

 

[Farb]

See cuddles’ post, lol. I will never figure out why you continue to believe, time after time, people who are lying to you. You just always go with the confirmation bias, while accusing me of not knowing what I am talking about. You should delete this post, since you’ve been found out.

And, just so you know, I went with the official White House figures they released. I actually posted where I got the information, had you actually bothered to read what I posted.

Coming from the person that told me I was lying, radicalized, hated women, wanted people to die, want to blow up children hospitals, men can become women, men can have babies, CRT is not being taught in schools, vaccines are a patriotic duty and recently NO ONE is doing any surgeries on minor for the sake of gender theory. So yeah, I hope you understand when I take what you say with zero credibility.

Wait, you mean the white house posted numbers that show what their unconstitutional action will be a win for the 'working American family'? Talk about believing what your told to believe.

 

[Farb]

People were given money from the gov't they didn't have to pay back. what it was for is irrelevant, they didn't have to take it. its only different to you because its shows the hypocracy that you accept one and not the other. You say the PPP was to help people. Ok, well, student loan forgiveness helps people too, but mostly the middle and lower class, we can't have that.
Take a PPP loan, pay your employees since they can't work, good. extra unemplyment because you can't work "BAD!!!"
Don't pay back PPP loan because it helped people good. Student loan forgiveness because it might help people "BAD!!!"

The PPP loan was the government being totally inept and using private businesses as their way of distributing welfare caused by their actions of deeming certain empolyers essential and non-essential.
As a non-essential business, as per the CDC, I had to take the money in order to pay my employees so they would not swamp the unemployment system. I would recommend actually looking into and not just taking what MSNBC tells you. You won't though, so please understand if I won't be responding to this same tired line trying to compare and guilt the average American to feel good about paying roughly $2,500 to help a non-binary Bipoc pansexual eskimo pay back zer/zim loan to major in gender theory classes so they can be employed by the same university in an 'equity, inclusion and diversity role.

 

[Bigdaddysaints]

The PPP loan was the government being totally inept and using private businesses as their way of distributing welfare caused by their actions of deeming certain empolyers essential and non-essential.
As a non-essential business, as per the CDC, I had to take the money in order to pay my employees so they would not swamp the unemployment system. I would recommend actually looking into and not just taking what MSNBC tells you. You won't though, so please understand if I won't be responding to this same tired line trying to compare and guilt the average American to feel good about paying roughly $2,500 to help a non-binary Bipoc pansexual eskimo pay back zer/zim loan to major in gender theory classes so they can be employed by the same university in an 'equity, inclusion and diversity role.

I have nothing against the PPP loans. you didn't HAVE to take the money, you CHOSE to take the money, probably for a good reason Unless i misunderstood that it was forced upon you with no choice in the matter. But i find that highly unlikely.
See there it is.. that " non-binary Bipoc pansexual eskimo pay back zer/zim loan to major in gender theory classes " is a made up major you are parroting from wherever, probably Facebook or Truth Social.
You worded the above as if you took a PPP loan. Now i know why you are defending one hand out and are condeming another..

 

[cuddlemonkey]

So, what is 25% of 1 trillion?

This is a really weird way of saying "Hey, gang, I was wrong. I didn't bother to spend a few minutes checking out the source for my claims."

 

[MT15]

Coming from the person that told me I was lying, radicalized, hated women, wanted people to die, want to blow up children hospitals, men can become women, men can have babies, CRT is not being taught in schools, vaccines are a patriotic duty and recently NO ONE is doing any surgeries on minor for the sake of gender theory. So yeah, I hope you understand when I take what you say with zero credibility.

Wait, you mean the white house posted numbers that show what their unconstitutional action will be a win for the 'working American family'? Talk about believing what your told to believe.

As usual, cannot even admit you were misled by one of your sources into using an old Forbes estimate of who gets the benefits which they made without knowing the details of the plan. And which they have since corrected. lol.

At least I can admit when I’m wrong. You should try it sometime. And the really crazy thing is that I totally believe you thought you had the correct numbers because one of your favored propagandists told you that. The thing is they knew the truth, they knew they were lying, but they count on you to not actually check, just believe what you’re told.

Your first paragraph is just a rant about you feeling victimized and contains several things I never said, and several things I did say that are true that you reject because of your feelings I suppose.

 

[Farb]

I have nothing against the PPP loans. you didn't HAVE to take the money, you CHOSE to take the money, probably for a good reason Unless i misunderstood that it was forced upon you with no choice in the matter. But i find that highly unlikely.
See there it is.. that " non-binary Bipoc pansexual eskimo pay back zer/zim loan to major in gender theory classes " is a made up major you are parroting from wherever, probably Facebook or Truth Social.
You worded the above as if you took a PPP loan. Now i know why you are defending one hand out and are condeming another..

I did take the PPP loan. You are correct it was my choice. What I didn't have a choice was closing my business, the bureaucrats decided that for me.

What outside force had these kids take out student loans for college?

 

[Farb]

This is a really weird way of saying "Hey, gang, I was wrong. I didn't bother to spend a few minutes checking out the source for my claims."

I see it as asking a relative question. So those earning over 88K (have seen the number of 125K for a two parent household) will see how much student loans payment paid off?

I know those of us that didn't take out a loan for college really like the idea of paying off personal bad decision for people we don't know and often look down on us as 'uneducated' and ignorant. But, votes need to be bought.

Also, Ben Shapiro addresses his audience by saying 'hey, gang'. Very Benny Shaprio of you.

 

[Bigdaddysaints]

I did take the PPP loan. You are correct it was my choice. What I didn't have a choice was closing my business, the bureaucrats decided that for me.

What outside force had these kids take out student loans for college?

So neither were forced, but one is ok because it benefited you directly and the other did not.

 

[cuddlemonkey]

I did take the PPP loan. You are correct it was my choice. What I didn't have a choice was closing my business, the bureaucrats decided that for me.

What outside force had these kids take out student loans for college?

A job market that requires a college degree for anything above entry-level work (and sometimes for actual entry-level positions). What choice do they have, not trying to get good jobs? Not trying to improve their prospects?

 

[Farb]

As usual, cannot even admit you were misled by one of your sources into using an old Forbes estimate of who gets the benefits which they made without knowing the details of the plan. And which they have since corrected. lol.

At least I can admit when I’m wrong. You should try it sometime. And the really crazy thing is that I totally believe you thought you had the correct numbers because one of your favored propagandists told you that. The thing is they knew the truth, they knew they were lying, but they count on you to not actually check, just believe what you’re told.

Your first paragraph is just a rant about you feeling victimized and contains several things I never said, and several things I did say that are true that you reject because of your feelings I suppose.

I don't doubt the numbers I posted as the numbers are still changing because your leader lies and manipulates you by not giving actual data.

Can a man become a woman through the miracle of science?

 

[Bigdaddysaints]

I see it as asking a relative question. So those earning over 88K (have seen the number of 125K for a two parent household) will see how much student loans payment paid off?

I know those of us that didn't take out a loan for college really like the idea of paying off personal bad decision for people we don't know and often look down on us as 'uneducated' and ignorant. But, votes need to be bought.

Also, Ben Shapiro addresses his audience by saying 'hey, gang'. Very Benny Shaprio of you.

What about the companies who didn't use PPP loans, should they be T'd at you for taking the free money? A lot of business closed down during the lock down. i guess if yours wasn't strong enough, to survive, then you should have just taken your bad luck and i shouldn't have to pay because you didn't have enough backup to make it like so many did...
I am glad you did though, there is nothing wrong with taking a hand out if you need it.
Do you mind if i ask what kind of comapny you own?

 

[Farb]

So neither were forced, but one is ok because it benefited you directly and the other did not.

One benefited the bureaucrats and helped them not do their job when they preformed incredible governmental overreach by essentially seizing and closing private businesses. Do you know how many business went under due to the lock downs? But yeah, we are the greedy ones. LOL.

The other didn't benefit anyone but universities and their endowments. We get to pay for that but we get to feel good about helping those that hate us and think we are all racist, ignorant rednecks that didn't go to college.

A lot of people bought new vehicles during the pandemic, the market is about to flooded with repossessed vehicles. Are you also on board with helping those that took out car loans as well?

 

[cuddlemonkey]

I see it as asking a relative question. So those earning over 88K (have seen the number of 125K for a two parent household) will see how much student loans payment paid off?

From the Penn Wharton analysis, around 75% is below the $88,000 threshold. According to Forbes, up to 14.6 million people could see their debt wiped away completely.

I know those of us that didn't take out a loan for college really like the idea of paying off personal bad decision for people we don't know and often look down on us as 'uneducated' and ignorant. But, votes need to be bought.

College degrees are required for the vast majority of jobs, much less viable careers. Do you have a problem with an educated workforce?

Also, Ben Shapiro addresses his audience by saying 'hey, gang'. Very Benny Shaprio of you.

Funny how that worked out since I was attributing those words to you.