Biden signs student loan cancellation

veni vidi vici

Omne quod audimus est opinio, non res. Omnia videm
4,441
903


12EFA484-8CB1-4DB5-A732-A5A2C86697F0.jpeg
 

Greever

Super Anarchist
4,091
106
Rockford, MI
We paid off my Wife’s student loans. Took about 8 years. So I paid off student loans and didn’t even go to college!

I think President Biden is simply buying votes with our tax dollars, without addressing the real problems of college being overpriced, career students abusing the system with non money-making degrees, predatory lenders, the list goes on…
 

Steam Flyer

Sophisticated Yet Humble
44,189
9,580
Eastern NC
We paid off my Wife’s student loans. Took about 8 years. So I paid off student loans and didn’t even go to college!

I think President Biden is simply buying votes with our tax dollars, without addressing the real problems of college being overpriced, career students abusing the system with non money-making degrees, predatory lenders, the list goes on…

Sure.
It's the same thing as buying votes with bank bailouts, or buying votes (and PAC contributions) from 1%ers by staging pointless wars, or with farm subsidies, or with oil reserve depletion allowances, or with tax cuts for billionaires, etc etc.

The question is, will the result be neutral or harmful for the rest of us?
 

veni vidi vici

Omne quod audimus est opinio, non res. Omnia videm
4,441
903
You have a problem with basic reality.
Maybe a few or Trumps corporations filled for bankruptcy he never has to my knowledge.
There is a reason we have bankruptcy laws .
Business is not easy just has home mortgages are not easy, there is a direct comparison between the housing market collapse in 2008 and the student loan situation. Money loaned willy nilly by feel good Democrat leadership with little to no criteria for calculating the ability to pay the loan back.
 

mikewof

mikewof
45,639
1,209
Another benefit of not having student loans


Friends and I used to do that trick to each other, one of the rockets landed in his drawers and burned a hole in them with a big scorch mark. He proudly wore those drawers as testament to his nuclear shits, but I knew the truth, it was a bottle rocket.
 

F_L

Anarchist
830
155
Canyon Lake, TX
Student loan forgiveness plan has a SCOTUS problem


We have lots of older and more obscure emergencies, one declared by President Carter IIRC, so the panicdemic isn't all that old as PANICS go.

So is this a major question? I don't know. Seems like bad policy to me to forgive loans, whether student loans or Panicdemic Payout Pork loans.
I'm confused. If the pandemic is still an emergency, why did .gov argue against Trumps Title 42 emergency order. I guess what you define as an emergency depends on your agenda.
 

Peter Andersen

Anarchist
517
120
We paid off my Wife’s student loans. Took about 8 years. So I paid off student loans and didn’t even go to college!

I think President Biden is simply buying votes with our tax dollars, without addressing the real problems of college being overpriced, career students abusing the system with non money-making degrees, predatory lenders, the list goes on…
Despite what you will hear here, many common sense Dems opppse this. Klobuchar for one. She had ideas to treat the disease, not the symptoms. Tie the aide to the types of jobs that are needed, Trades. Not Sports Marketing degrees. Nobody would listen.
 

veni vidi vici

Omne quod audimus est opinio, non res. Omnia videm
4,441
903
Despite what you will hear here, many common sense Dems opppse this. Klobuchar for one. She had ideas to treat the disease, not the symptoms. Tie the aide to the types of jobs that are needed, Trades. Not Sports Marketing degrees. Nobody would listen.
There could be a algorithm that adjusts the max loan to the pay that career pays along with the demand for that degree.
Of course that should be going forward, those already signed are SOL .
The Feds could knock the interest to zero on the existing loans ( government backed loans) and I would be happy with that ( existing loans)
 

Greever

Super Anarchist
4,091
106
Rockford, MI
Sure.
It's the same thing as buying votes with bank bailouts, or buying votes (and PAC contributions) from 1%ers by staging pointless wars, or with farm subsidies, or with oil reserve depletion allowances, or with tax cuts for billionaires, etc etc.

The question is, will the result be neutral or harmful for the rest of us?
Kicking the can down the road in my opinion.

That said I think student loan debt forgiveness is just as worthy as the debt we forgave corporations during Covid.
 

mikewof

mikewof
45,639
1,209
If that's the case, the party who supported it will suffer at the polls. That's how the system works here.

When does that happen? If we've learned nothing, it's that people across political spectra will vote against their best interests.
 

Patriot

Super Anarchist
1,099
15
You have only expressed a single unsupported argument thus far in support of any of your claims or opinions, but you fail to make even a scintilla of effort to develop it, preferring instead to vomit right wing outrage talking points with no relationship to reality.

Those who rely on paid reporters and for-profit media to 'peel the onion back' are what I call 'intellectual cucks'. Doesn't matter what news you read - if you rely on it for anything but a research starting point and/or entertainment, you practice conscious ignorance.
Wrong. I’ve shown multiple reasons why this is wrong-headed…..no need to dive into great detail on each point, unless the audience here can’t connect the dots.

As for the rest of your post above:

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mikewof

mikewof
45,639
1,209

The way this works is that the Federal Student Loan program already has a forgiveness program in place. If the borrower has a job working for any Federal, State, City, Country or Tribal government organization, or a non-profit, or a for-profit healthcare company (yeah, the last one is kind of silly) then they only have to make 120 on-time payments and the rest of their loans will be dismissed through the Public Service Loan Forgiveness program, https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service

I assume that all these public servants just used their PSLF.

There is another version of the PSLF for regular humans who don't work for government or nonprofit or have a healthcare job, but they have to make something like 500 on-time payments IIRC ... usually more than the life of the loan anyway.
 

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