Student loan forgiveness

My plumber says if he has to pay for student loans Trump/DeSantis will get a third term. Lol.

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Originally Posted by TheXFactor

Harvard University has over $50 Billion dollars that they are NOT spending on their students.

Biden should seize these funds not just from Harvard but ALL ivy league schools and colleges from across the country. Use the money to send poor kids to college or to pay off school debt.


https://c.tenor.com/CH3lJ3ZZ9wAAAAAd...berg-robot.gif

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What a fucking brilliant idea. Let’s start seizing people/institutional money.

Why would anyone save for college going forward?

I cannot imagine what Ben’s first year will cost. Is $100k/yr at a private institution some kind of hard cap?

Right wing media correcting attacking this head on because they know it's a win for Dems in a crucial year.

Haven't dug in yet to see if my remaining ~$4k qualifies or not, think it does. Thanks faggots!

:lol2

This does absolutely nothing to address the underlying mechanisms of why student debt is so out of control in the US. So we will likely be in the same spot (or worse) in a decade from now.

But it’s an election year and dumb people will eat this up.

So yeah, definitely a win for one of our two political parties.

the fact that state schools use the US gov't to act as a guarantor for loans from private banks for students tuition is insane

Fuck Joe Biden

That’s all.

Ok Fuck Marley too.

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Originally Posted by The Boz

Fuck Joe Biden

That’s all.

Ok Fuck Marley too.

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I wrote about the fisherman in upper Maine with their Trump banners. They are gonna be real fans of tuition forgiveness


Not since 2008 when no banker went to jail (got bonuses instead) will populism get a greater shot in the arm over an issue so plain.


Pitchforks

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Originally Posted by The Boz

Fuck Joe Biden

That’s all.

Ok Fuck Marley too.

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lol. You know I’m getting my $10K… hahaha


Fucking retard

It's just mind blowing that we still have to discuss the GOP in any meaningful way, toss em in the trash bin of history.

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Lol Biden going full Druff whataboutism and crushing skulls.

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Originally Posted by Sloppy Joe

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Lol Biden going full Druff whataboutism and crushing skulls.

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He actually seemed semi cogent. Guess it’s one of his rare good days.

Not often I loose a lot of bets. I’d have loaded up on “responsible people who already paid off their loans” as the “the most outraged population” of people in reaction to this. Figure a -200 price would be about right.


Nope.

I severely underestimated the “this is no where near enough” camp

&

The “this is fucking racist because white people go to college” camp.

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Originally Posted by Daly

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Originally Posted by Sloppy Joe

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Lol Biden going full Druff whataboutism and crushing skulls.

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He actually seemed semi cogent. Guess it’s one of his rare good days.

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Not remotely strong and cogent.

Full blown whataboutism.

Should have simple walked off

As demographics fall off the cliff the US will likely nationalize the state colleges and offer free education.

You don’t “get in” you simply “go in”.

Free breakfast and lunch included. Maybe a stipend.

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Originally Posted by Sanlmar

As demographics fall off the cliff the US will likely nationalize the state colleges and offer free education.

You don’t “get in” you simply “go in”.

Free breakfast and lunch included. Maybe a stipend.

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and yet overall college numbers have dropped by 6%+ since Covid. Ppl discovering college isnt always the key to a good lifetime income unless you're doing hard sciences or just want to run up debt with a bullshit degree and be a starbucks barista with a degree in womens studies or art appreciation.

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Originally Posted by ftpjesus

Quote:

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Originally Posted by Sanlmar

As demographics fall off the cliff the US will likely nationalize the state colleges and offer free education.

You don’t “get in” you simply “go in”.

Free breakfast and lunch included. Maybe a stipend.

---

and yet overall college numbers have dropped by 6%+ since Covid. Ppl discovering college isnt always the key to a good lifetime income unless you're doing hard sciences or just want to run up debt with a bullshit degree and be a starbucks barista with a degree in womens studies or art appreciation.

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So people are looking at the risk reward of some 4 year degrees and concluding they will not be worth the investment and a growing number of them are taking a pass. I’m sure bailing people out won’t impact this important decision making process which would ultimately bring down the price of said 4 year degree.

Know how to stop people from going for a $200K basket weaving degree? Have them hear these horror stories. Know how to not only keep people going into these programs and mis allocating their time but also watching universities mis allocating capital into building a new basket weaving wing to the campus? Bail these people out.

It’s like we are all taking crazy pills.

Quote:

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Originally Posted by Daly

Not often I loose a lot of bets. I’d have loaded up on “responsible people who already paid off their loans” as the “the most outraged population” of people in reaction to this. Figure a -200 price would be about right.


Nope.

I severely underestimated the “this is no where near enough” camp

&

The “this is fucking racist because white people go to college” camp.

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This is a precursor for reparations.

This really is such a dumb policy.

There's only a finite amount of government handouts to go around.

Why would you earmark such a large amount of it for the already college educated -- one of the most privileged segments of the population?

What about the working class people who chose not to take on that debt, and now have lifelong reduced earning power? Joke's on them?

What about the responsible people who paid back their debt, while going without luxuries enjoyed by those who chose not to pay it back? Joke's on them?

All the left has to say back is, "B-b-b-but education should have been free all along!", as if that answers any of these concerns. It's just pandering to get votes back for the Democrats, but it's an odd strategy, because they're already killing it among the college educated. In fact, Democrats have been INCREASING their share of the college educated in recent years. They're just losing big time with working class whites, and now working class minorities as well. This will just hasten the exodus of the working class, who will be especially resentful here.

Quote:

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Originally Posted by Dan Druff

This really is such a dumb policy.

There's only a finite amount of government handouts to go around.

Why would you earmark such a large amount of it for the already college educated -- one of the most privileged segments of the population?

What about the working class people who chose not to take on that debt, and now have lifelong reduced earning power? Joke's on them?

What about the responsible people who paid back their debt, while going without luxuries enjoyed by those who chose not to pay it back? Joke's on them?

All the left has to say back is, "B-b-b-but education should have been free all along!", as if that answers any of these concerns. It's just pandering to get votes back for the Democrats, but it's an odd strategy, because they're already killing it among the college educated. In fact, Democrats have been INCREASING their share of the college educated in recent years. They're just losing big time with working class whites, and now working class minorities as well. This will just hasten the exodus of the working class, who will be especially resentful here.

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Druff,

This is a terrible take. The people that have student loan debt are the working class that were trying to improve themselves. Only to find out that they were sold a bill of goods.

And yes fuck the people that already paid back. Guess what? They're fine. People care as much about them as you do Indian tribes. This will be Biden's greatest achievement. There's plenty of shit I don't like paying for that gets federally funded. People dumb enough to live in New Orleans - uh duh floods are coming. California wildfires deserve no money - let the idiots out there lose their property and die.

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Originally Posted by dmndkutr

Quote:

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Originally Posted by Dan Druff

This really is such a dumb policy.

There's only a finite amount of government handouts to go around.

Why would you earmark such a large amount of it for the already college educated -- one of the most privileged segments of the population?

What about the working class people who chose not to take on that debt, and now have lifelong reduced earning power? Joke's on them?

What about the responsible people who paid back their debt, while going without luxuries enjoyed by those who chose not to pay it back? Joke's on them?

All the left has to say back is, "B-b-b-but education should have been free all along!", as if that answers any of these concerns. It's just pandering to get votes back for the Democrats, but it's an odd strategy, because they're already killing it among the college educated. In fact, Democrats have been INCREASING their share of the college educated in recent years. They're just losing big time with working class whites, and now working class minorities as well. This will just hasten the exodus of the working class, who will be especially resentful here.

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Druff,

This is a terrible take. The people that have student loan debt are the working class that were trying to improve themselves. Only to find out that they were sold a bill of goods.

And yes fuck the people that already paid back. Guess what? They're fine. People care as much about them as you do Indian tribes. This will be Biden's greatest achievement. There's plenty of shit I don't like paying for that gets federally funded. People dumb enough to live in New Orleans - uh duh floods are coming. California wildfires deserve no money - let the idiots out there lose their property and die.

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Lots of false equivalence above.

Why "fuck the people who already paid back"? Fuck them for being responsible? Fuck them for going without the luxuries that many with outstanding loans got to experience, and now are getting bailed out as a reward? C'mon, man!

Many of those benefiting from student loan forgiveness are not "the working class trying to improve themselves". People who took out loans for college, majored in "women's studies", and are now whining about their student debt -- they do not deserve a bailout, as they did not invest in themselves.

But here's the real truth. The average American is really, really bad at managing money. I know many personally. I've helped many personally -- not by giving them money, but by giving advice which allows them to maintain essentially the same lifestyle while building up actual savings.

So you have the typical person who can't afford college, takes out a loan, majors in something at least fairly useful, and gets a decent career going. Then, despite making good (or at least somewhat good) money, they pay the absolute minimum on their loans, because why save money or do anything responsible if you can have fun blowing it and buying cool shit? So they subsist like this for decades, barely making a debt in the principal of the loan, and every so often they bitch about how much debt is hanging over their heads (usually much more than just the student loan). Indeed, this person has a lot of debt, but it's all self-inflicted, and not just from taking the loan in the first place. People like this do NOT deserve bailouts, when they have a perfectly good career making good or decent money. Hold off on grabbing the newest iPhone, stop trading in your car every 3 years, and stop buying every outfit which strikes your fancy, and the savings will add up quickly.

And what about those not making decent money? There's no excuse for that nowadays, if you majored in anything at least semi-useful. Remember, we have a worker shortage. I have no sympathy for those who simply choose not to work, or majored in something they knew wouldn't lead to well-paid employment.

The only people who should be getting bailouts are actual college scam victims. There were some college and vocational school scams out there, mostly aimed at minorities, which had these victims take out huge loans, and then were given a completely worthless "education". I support these type of loan bailouts, but these are a tiny percentage of overall student loan debt.

America's anchorman delivers again, how does he do this on the daily.
First 9 minutes, wow. Trust me, it's loaded with juicy lil known facts and details.
https://www.youtube.com/watch?v=xK6wAQpdvpM
Is anything in this country not a swindle? No lol

one thing not mentioned in press coverage is that debt cancelled is usually taxable income, thus the fed & state government will take back at least some of the 10,000 written off (assuming the individual has other net taxable income) ...and a fair number of debt-cancelled recipients will neglect to include the cancellation on their returns--it's something the new IRS audit staffers can follow up on.

that is, provided the law proposed does not exempt the debt cancelled from income.

so college debtors, watch your mail box for your 1099C!

Quote:

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Originally Posted by GrenadaRoger

one thing not mentioned in press coverage is that debt cancelled is usually taxable income, thus the fed & state government will take back at least some of the 10,000 written off (assuming the individual has other net taxable income) ...and a fair number of debt-cancelled recipients will neglect to include the cancellation on their returns--it's something the new IRS audit staffers can follow up on.

that is, provided the law proposed does not exempt the debt cancelled from income.

so college debtors, watch your mail box for your 1099C!

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The American Rescue Plan of 2021 made student loan forgiveness federally tax-free through 2025, dummy. Biden is not proposing a law here — this is executive action. Thanks for your room-temperature IQ take on current events.

I grew up in an age of balanced budgets. Fiscal responsibility by government was something of a goal. Not always achieved but it was something we valued. In the ensuing years modern science has discovered a better way.

Remember this chestnut?

Biden’s down-payment assistance bill that would provide $25,000 to first-time homebuyers. This was cash at closing

Why only $25k? Isn't this figure gonna be adjusted for inflation?

$7500 for your car purchase.

The very idea of shipping Maine lobsterman’s taxes to Stanford computer science majors and subsidizing their Tesla purchase and first time house purchase simply never would have been imagined in any socialist’s wildest flight of fancy 30 years ago.


So so fucked.

https://www.foxnews.com/us/student-l...no-problem.amp

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Originally Posted by Dan Druff

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Originally Posted by dmndkutr

Druff,

This is a terrible take. The people that have student loan debt are the working class that were trying to improve themselves. Only to find out that they were sold a bill of goods.

And yes fuck the people that already paid back. Guess what? They're fine. People care as much about them as you do Indian tribes. This will be Biden's greatest achievement. There's plenty of shit I don't like paying for that gets federally funded. People dumb enough to live in New Orleans - uh duh floods are coming. California wildfires deserve no money - let the idiots out there lose their property and die.

---

Lots of false equivalence above.


Why "fuck the people who already paid back"? Fuck them for being responsible? Fuck them for going without the luxuries that many with outstanding loans got to experience, and now are getting bailed out as a reward? C'mon, man!

Many of those benefiting from student loan forgiveness are not "the working class trying to improve themselves". People who took out loans for college, majored in "women's studies", and are now whining about their student debt -- they do not deserve a bailout, as they did not invest in themselves.

But here's the real truth. The average American is really, really bad at managing money. I know many personally. I've helped many personally -- not by giving them money, but by giving advice which allows them to maintain essentially the same lifestyle while building up actual savings.

So you have the typical person who can't afford college, takes out a loan, majors in something at least fairly useful, and gets a decent career going. Then, despite making good (or at least somewhat good) money, they pay the absolute minimum on their loans, because why save money or do anything responsible if you can have fun blowing it and buying cool shit? So they subsist like this for decades, barely making a debt in the principal of the loan, and every so often they bitch about how much debt is hanging over their heads (usually much more than just the student loan). Indeed, this person has a lot of debt, but it's all self-inflicted, and not just from taking the loan in the first place. People like this do NOT deserve bailouts, when they have a perfectly good career making good or decent money. Hold off on grabbing the newest iPhone, stop trading in your car every 3 years, and stop buying every outfit which strikes your fancy, and the savings will add up quickly.

And what about those not making decent money? There's no excuse for that nowadays, if you majored in anything at least semi-useful. Remember, we have a worker shortage. I have no sympathy for those who simply choose not to work, or majored in something they knew wouldn't lead to well-paid employment.

The only people who should be getting bailouts are actual college scam victims. There were some college and vocational school scams out there, mostly aimed at minorities, which had these victims take out huge loans, and then were given a completely worthless "education". I support these type of loan bailouts, but these are a tiny percentage of overall student loan debt.

---

Lol - so 43 million people were doing woman's studies? You've done no research on this and it shows. https://thehill.com/homenews/nexstar...snTrfiXSV_6oAk

Loan forgiveness won’t change this…

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Originally Posted by ajtrigger

Quote:

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Originally Posted by GrenadaRoger

one thing not mentioned in press coverage is that debt cancelled is usually taxable income, thus the fed & state government will take back at least some of the 10,000 written off (assuming the individual has other net taxable income) ...and a fair number of debt-cancelled recipients will neglect to include the cancellation on their returns--it's something the new IRS audit staffers can follow up on.

that is, provided the law proposed does not exempt the debt cancelled from income.

so college debtors, watch your mail box for your 1099C!

---

The American Rescue Plan of 2021 made student loan forgiveness federally tax-free through 2025, dummy. Biden is not proposing a law here — this is executive action. Thanks for your room-temperature IQ take on current events.

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thank you for recognizing my attempt to condeign to PFA in general and you in particular

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Originally Posted by devidee

Loan forgiveness won’t change this…

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Nor will it ever. “Kids” 22-27 shouldn’t be making meaningfully more than their non college educated piers assuming they moved out of entry level phase.

Where things should accelerate is when the college “Kid” makes it to 42 and has taken the degree and now has 20 years of experience in his/her field of study and is now a subject matter expert or a boss. In this instance there should be a meaningful divergence.

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Originally Posted by dmndkutr

Quote:

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Originally Posted by Dan Druff

Lots of false equivalence above.


Why "fuck the people who already paid back"? Fuck them for being responsible? Fuck them for going without the luxuries that many with outstanding loans got to experience, and now are getting bailed out as a reward? C'mon, man!

Many of those benefiting from student loan forgiveness are not "the working class trying to improve themselves". People who took out loans for college, majored in "women's studies", and are now whining about their student debt -- they do not deserve a bailout, as they did not invest in themselves.

But here's the real truth. The average American is really, really bad at managing money. I know many personally. I've helped many personally -- not by giving them money, but by giving advice which allows them to maintain essentially the same lifestyle while building up actual savings.

So you have the typical person who can't afford college, takes out a loan, majors in something at least fairly useful, and gets a decent career going. Then, despite making good (or at least somewhat good) money, they pay the absolute minimum on their loans, because why save money or do anything responsible if you can have fun blowing it and buying cool shit? So they subsist like this for decades, barely making a debt in the principal of the loan, and every so often they bitch about how much debt is hanging over their heads (usually much more than just the student loan). Indeed, this person has a lot of debt, but it's all self-inflicted, and not just from taking the loan in the first place. People like this do NOT deserve bailouts, when they have a perfectly good career making good or decent money. Hold off on grabbing the newest iPhone, stop trading in your car every 3 years, and stop buying every outfit which strikes your fancy, and the savings will add up quickly.

And what about those not making decent money? There's no excuse for that nowadays, if you majored in anything at least semi-useful. Remember, we have a worker shortage. I have no sympathy for those who simply choose not to work, or majored in something they knew wouldn't lead to well-paid employment.

The only people who should be getting bailouts are actual college scam victims. There were some college and vocational school scams out there, mostly aimed at minorities, which had these victims take out huge loans, and then were given a completely worthless "education". I support these type of loan bailouts, but these are a tiny percentage of overall student loan debt.

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Lol - so 43 million people were doing woman's studies? You've done no research on this and it shows. https://thehill.com/homenews/nexstar...snTrfiXSV_6oAk

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"you've done no research, and it shows"

links to a the hill article

:lol2


what a fucking moron you are

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Originally Posted by Daly

Nor will it ever. “Kids” 22-27 shouldn’t be making meaningfully more than their non college educated piers assuming they moved out of entry level phase.

Where things should accelerate is when the college “Kid” makes it to 42 and has taken the degree and now has 20 years of experience in his/her field of study and is now a subject matter expert or a boss. In this instance there should be a meaningful divergence.

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I knew you guys would be crying but I didn't think it would be this bad. You guys act like you didn't have one break your whole lives, just STFU.
...........LOL at Daly, where did this whack job theory come from? Tucker? They are 10 year loans max to start.
Its these scummy finance guys refi'ing them into life long loans and shit.
And you think they should carry a student loan debt into their 40's? Instead of just giving them 10k.

I swear the rich cry when poor people get ANY break, but they cheer on Elon (who has had more government money handed to them besides him?)
silent when the bankers get bailed out, or all the GOP's that didn't pay back the PPP's. (I'm more jealous then mad on that last one, I didn't know you could be like MTG and not pay back 180k.)

Just like Covid proved the GOP isn't pro life, this proves that stupid ass 'Trickle down theory' was a lie from day 1.
Rich people don't trickle down shit.

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Originally Posted by JimmyG_415

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Originally Posted by Daly

Nor will it ever. “Kids” 22-27 shouldn’t be making meaningfully more than their non college educated piers assuming they moved out of entry level phase.

Where things should accelerate is when the college “Kid” makes it to 42 and has taken the degree and now has 20 years of experience in his/her field of study and is now a subject matter expert or a boss. In this instance there should be a meaningful divergence.

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I knew you guys would be crying but I didn't think it would be this bad. You guys act like you didn't have one break your whole lives, just STFU.
...........LOL at Daly, where did this whack job theory come from? Tucker? They are 10 year loans max to start.
Its these scummy finance guys refi'ing them into life long loans and shit.
And you think they should carry a student loan debt into their 40's? Instead of just giving them 10k.

I swear the rich cry when poor people get ANY break, but they cheer on Elon (who has had more government money handed to them besides him?)
silent when the bankers get bailed out, or all the GOP's that didn't pay back the PPP's. (I'm more jealous then mad on that last one, I didn't know you could be like MTG and not pay back 180k.)

Just like Covid proved the GOP isn't pro life, this proves that stupid ass 'Trickle down theory' was a lie from day 1.
Rich people don't trickle down shit.

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Wondering how quickly the rightwingers here will howl over these loan forgiveness cases.

Who breaks the news to the tens of thousand prison guard trainees?

Quote:

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Originally Posted by Sanlmar

I grew up in an age of balanced budgets. Fiscal responsibility by government was something of a goal. Not always achieved but it was something we valued. In the ensuing years modern science has discovered a better way.

Remember this chestnut?

Biden’s down-payment assistance bill that would provide $25,000 to first-time homebuyers. This was cash at closing

Why only $25k? Isn't this figure gonna be adjusted for inflation?

$7500 for your car purchase.

The very idea of shipping Maine lobsterman’s taxes to Stanford computer science majors and subsidizing their Tesla purchase and first time house purchase simply never would have been imagined in any socialist’s wildest flight of fancy 30 years ago.


So so fucked.

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Don't forget the $7500 electric car credit caused the manufacturers to raise the prices by ... $7500!

LOL GUBBMINT

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Originally Posted by dmndkutr

Quote:

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Originally Posted by Dan Druff

Lots of false equivalence above.


Why "fuck the people who already paid back"? Fuck them for being responsible? Fuck them for going without the luxuries that many with outstanding loans got to experience, and now are getting bailed out as a reward? C'mon, man!

Many of those benefiting from student loan forgiveness are not "the working class trying to improve themselves". People who took out loans for college, majored in "women's studies", and are now whining about their student debt -- they do not deserve a bailout, as they did not invest in themselves.

But here's the real truth. The average American is really, really bad at managing money. I know many personally. I've helped many personally -- not by giving them money, but by giving advice which allows them to maintain essentially the same lifestyle while building up actual savings.

So you have the typical person who can't afford college, takes out a loan, majors in something at least fairly useful, and gets a decent career going. Then, despite making good (or at least somewhat good) money, they pay the absolute minimum on their loans, because why save money or do anything responsible if you can have fun blowing it and buying cool shit? So they subsist like this for decades, barely making a debt in the principal of the loan, and every so often they bitch about how much debt is hanging over their heads (usually much more than just the student loan). Indeed, this person has a lot of debt, but it's all self-inflicted, and not just from taking the loan in the first place. People like this do NOT deserve bailouts, when they have a perfectly good career making good or decent money. Hold off on grabbing the newest iPhone, stop trading in your car every 3 years, and stop buying every outfit which strikes your fancy, and the savings will add up quickly.

And what about those not making decent money? There's no excuse for that nowadays, if you majored in anything at least semi-useful. Remember, we have a worker shortage. I have no sympathy for those who simply choose not to work, or majored in something they knew wouldn't lead to well-paid employment.

The only people who should be getting bailouts are actual college scam victims. There were some college and vocational school scams out there, mostly aimed at minorities, which had these victims take out huge loans, and then were given a completely worthless "education". I support these type of loan bailouts, but these are a tiny percentage of overall student loan debt.

---

Lol - so 43 million people were doing woman's studies? You've done no research on this and it shows. https://thehill.com/homenews/nexstar...snTrfiXSV_6oAk

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Read my post again.

I did not blame this entire thing -- or even most of it -- on women's studies majors. I said that useless majors were some of the problem, but much of it came from people with irresponsible money management habits, who now just get enabled further.

The person making $115k per year, who frivolously spends every dime he earns, does NOT deserve a government benefit just because he'd rather get a new iPhone or go on expensive vacations rather than pay down the principal of his old student loan.

Make these rubes at least put some time in with Americorps or some bullshit to get their handout.

Go cleanup a highway or volunteer at a food bank for 100 hours.