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Thread: Student loan forgiveness

  1. #101
    Master of Props Daly's Avatar
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    It’s not unfair for 20-30 year olds to say they have a shit hand when compared to some of the earlier generations. Same could have been said when I was 20-30…. Things are getting worse in many ways.


    That all being said the answer here isn’t to cancel student debt….. that’s not helping the kids that are 10-20 and need to go through this time in their lives over the next decade. It’s only making it worse. Decisions should be made to bring down college costs. Otherwise we are setting ourselves up for a 20k cancelation 10 years from now.

  2. #102
    Platinum garrett's Avatar
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    Quote Originally Posted by Daly View Post

    It’s not unfair for 20-30 year olds to say they have a shit hand when compared to some of the earlier generations. Same could have been said when I was 20-30…. Things are getting worse in many ways.


    That all being said the answer here isn’t to cancel student debt….. that’s not helping the kids that are 10-20 and need to go through this time in their lives over the next decade. It’s only making it worse. Decisions should be made to bring down college costs. Otherwise we are setting ourselves up for a 20k cancelation 10 years from now.





    this forum is boomers and Generation X

  3. #103
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    Beat: 20K would barely make a dent in the student debt me and my wife still have.
    Brag: We down qualify anyways

    --But yeah, it looks like the Supreme Court indirectly really fucked America up the ass with the Roe vs Wade ruling right before the midterms. Because most Americans actually support abortion and it is something they viscerally care about more than financial policy; so this ruling is going to give the Democrats some extra juice to continue making bad economic policy for the foreseeable future.

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    I have 2 kids in college so the benefits of this for me are substantial. Yet, there is an unfairness to it that makes it so I'd rather not see it come to be. What about people with credit card debt or upside-down car loans? Don't they deserve some relief too? What about the people who bought houses between a year ago and a year from now sure to be underwater soon if not already? The forgiveness is going to send a very bad message.

  5. #105
    Platinum BetCheckBet's Avatar
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    When my ex was really into politics I got dragged along to a Rob Rae speech (he was head on Ontario education). The whole purpose was to talk about how to make education more affordable and increase enrollment in universities. 99% of the discussion centred around this. Then some Eastern European professor would could clearly not read the room got up and spoke that the problem was there were too many students and we actually needed less. That they were just wasting their and his time time. It was one of those awkward comments that people didn;t really know how to respond and chose to just move on.

    Truth was and I knew it at the time he was 100% correct. As a graduate assistant I saw students all the time who had no business being there and were just throwing away mommy and daddies money or accruing debt. None of them had any plans for what the hell they were going to do in 6 months let alone a career path.

    I know someone right now who is 21 years old, barely made it through high school and makes 35 an hour as a pipefitter doing 50 hours a week. He loves his work and will be set for life if he can be responsible about it.

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  7. #107
    Platinum garrett's Avatar
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    Quote Originally Posted by country978 View Post
    I have 2 kids in college so the benefits of this for me are substantial. Yet, there is an unfairness to it that makes it so I'd rather not see it come to be. What about people with credit card debt or upside-down car loans? Don't they deserve some relief too? What about the people who bought houses between a year ago and a year from now sure to be underwater soon if not already? The forgiveness is going to send a very bad message.

    Very incorrect here

    NOT here in South Florida.. Homes bought one year ago are up good too. The American Housing Market is on fire and what we need to have NOT happen here is maybe get too much BIG institutional money buying everything up and Supplying the Homes/Condos/Apartments. Single Family Homes owned by Americans however they do it and pay them bills, should still be the American Dream not living in some different Apartment every so often, paying rent not ever putting Equity into a home that you will actually own in the long-term. The old American Dream right.. Or is that not it anymore, which if you speak to many of them Millennials which your children must be they'll think living in College like dorm life is how it should be. Less is more to the young one today it seems, and owning isn't less its an obligation they maybe would not want unless they're really fortunate

  8. #108
    Platinum garrett's Avatar
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    Also and VERY importantly why your all fundamentally wrong too im sick of hearing it, it's foolish and incorrect

    2007/2008 that Financial Collapse which Wall St and Mortgage Backed Securities fell apart which then house of cards, tumbled... And what happened was people investments, pensions everything exposed to that literally destroyed housing sector was gone. The reason that happened and what is totally fundamentally different about what we have now, here and going on and past few years is fundamentally different, completely.

    Loose lending was what tipped the House of Cards in 2007 and everything collapsed that is not what we have now here and haven't recently, its tough to get a Mortgage now as it should be too. So its not easy to get that loan and debt to own. and people who do are qualified. Will pay them Mortgages absolutely, they're Qualified for that debt. Intend on paying it too. And that brings us to now here, 2022 and i Will Continue with another post but, Costs for Material's way up now. So the next phase of all projects and Single family homes will have to be Raised, priced higher to build in the higher Cost of Materials now.

    And so what you have here now actually really is or should be now since so much did change and post Covid US spending money much is different now so there really maybe should be an emphasis on actual home ownership again. Like our parents had in the 1960s and 1970s. Also too so this Millennial Generation understands that to own a home is important, pride if you're a real actual American person. I understand that from the Investment standpoint Risk/Reward Calculus does exist there too and also lol, Married Couple's get divorced all the time right, how high is that Divorce Rate Right now, you should expect it too now a days. I feel good 43 single never married so im not one contributing to that super high sad Divorce Rate. And its because people get Married for the wrong reasons, and its not real love I think, anyway lots is changing right now and you should FOMO a Home in my sincerest of views now..

    FOMO of never owning youre own home in America which is the American dream or i always thought that was myself.
    Last edited by garrett; 08-27-2022 at 09:56 AM.

  9. #109
    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by BetCheckBet View Post
    I know someone right now who is 21 years old, barely made it through high school and makes 35 an hour as a pipefitter doing 50 hours a week. He loves his work and will be set for life if he can be responsible about it.
    In my world - which appears to be at odds with Sonatine - there is no way this working class kid and the other workers on the job site should be paying for your privileged ass to be going to college.

    But then again the concept that taxation and income distribution have anything at all to do with this issue is a notion that was abandoned 15-20 years ago. Somehow money just magically appears. To deny a handout is to be an asshole.

    Inflation and recession will affect the 21 yr old much more than it will me. Older people without kids just consume a lot less. I do empathize with him more than the theatre major though. I worked damn hard at his age.

  10. #110
    Plutonium Sanlmar's Avatar
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    Alumni donations are a pay it forward kind of thing.

    Some guy goes to school and hits it big. He hooks the kids up with internships and job offers after school. Mr Big pays for the new athletic field.

    You and your buddies get hooked up too and do ok.

    You go to games and other events as a graduate and touch base with your people.

    You get an email asking to contribute. People tend to give willingly. It is a community that you care about.

    This is more a private school than a public school phenomenon, of course.

    My kid is at Saratoga with his college buddies atm. The bond is strong. Looking out for each other. I like to see thet. My kid needs that support. He’s ain’t that bright. He will give

  11. #111
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    Auto loans will be next, repos are going up fast since car prices are too high and people are no longer getting free Covid cash.

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