Student loan forgiveness

[dmndkutr]

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.

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.

[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.

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.

[Entropy]

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.

Is anything in this country not a swindle? No lol

[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!

[ajtrigger]

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.

[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.

[dmndkutr]

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

[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

[devidee]

Loan forgiveness won’t change this…

[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.

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

[Daly]

Loan forgiveness won’t change this…

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.

[devidee]

[dwai]

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

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

links to a the hill article




what a fucking moron you are

[devidee]

[JimmyG_415]

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.

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.

[MumblesBadly]

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.

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.

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

[limitles]

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

[Dan Druff]

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.

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

LOL GUBBMINT

[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

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.

[Texter]

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.