Student debt relief/forgiveness

[vraiblonde]

That's what Biden is promising (again) if you vote him in for a second term.

Why would young people believe him now when he said the same thing 4 years ago and never made it happen? Democrats are notorious for promising the moon during a campaign, shelving it during their term, then reviving it come re-election time. "No, this time we mean it!"

 

[GURPS]

Biden doesn't wanted to be voted out for this huge giveaway ....

 

[Monello]

Notice he didn't mention reparations. Pretty much the AA vote is going to the dems anyway. I wonder if joe will insult blacks again with some bigoted nonsense about blacks not really being black based on their choice of candidate. I'm sure the white half of obama told him to say that.

 

[HemiHauler]

The 'giveaway' occurred the second the loans were made. It doesn't require any more spilled fiat to clean things up and have a debt jubilee on student loans ... AS LONG AS the government-backed lending program ends for good.

 

[Gilligan]

I'm sure my daughter that worked her butt off to pay back over 100K in loans (from 7 years of very expensive schools) will be pleased to see others get off easy.

That said...I'm seeing references to only 10K of forgiveness....so just virtue-signaling BS in other words.

 

[HemiHauler]

Gosh, speaking of virtue signaling.

 

[Kyle]

I'm sure my daughter that worked her butt off to pay back over 100K in loans (from 7 years of very expensive schools) will be pleased to see others get off easy.

That said...I'm seeing references to only 10K of forgiveness....so just virtue-signaling BS in other words.

Since I didn't burden them for college money, I think they should pay for the New F-150 Raptor R I want instead.

Seems fair.

 

[black dog]

Will those who served get rebates on using the GI Bill money?

 

[Gilligan]

Gosh, speaking of virtue signaling.

Figures you lefty freaks would consider "doing the right thing" virtue signaling.

 

[HemiHauler]

Figures you lefty freaks would consider "doing the right thing" virtue signaling.

The "right way" would be to pay one's own way without government assistance -- pull ourselves up by our bootstraps.

 

[Gilligan]

The "right way" would be to pay one's own way without government assistance -- pull ourselves up by our bootstraps.

Yeah, I'm sure you know kids that worked their way through 7 years of college and didn't borrow a dime.

But I don't.

 

[Clem72]

I'm sure my daughter that worked her butt off to pay back over 100K in loans (from 7 years of very expensive schools) will be pleased to see others get off easy.

That said...I'm seeing references to only 10K of forgiveness....so just virtue-signaling BS in other words.

My take is to drop the interest rate to near-zero (maybe 0.25%) and/or make the interest fully tax deductible (this encourages them to work....)

It's okay if the government helps people go to school with loans, but they don't need to make a profit off it.

 

[SamSpade]

After two years on a scholarship I went to Maryland and my first semester of college came to under 500 bucks full time tuition. In 1980. Even then, a couple years of THAT could be paid back easily even if I DIDN’T get a good job. And that DID happen.

Think about it. With loans for also covering rent and food AND working - I racked up maybe 6 g’s. My first job paid 4 times that a year.

Fast forward today. If the same thing were proportional my first job would have to be close to 300k or more to be the same financial burden.

The PROBLEM is that college costs make it a really bad return on investment unless you land a seriously lucrative career in a stable job. Most college grads are lucky if their first job pays the same as ONE year of college.

 

[SamSpade]

My take is to drop the interest rate to near-zero (maybe 0.25%) and/or make the interest fully tax deductible (this encourages them to work....)

It's okay if the government helps people go to school with loans, but they don't need to make a profit off it.

I don’t think that’s how it works. They merely back the loan as I understand it. My loans were guaranteed by the government but I still paid a bank.

 

[black dog]

Dont want college bills, 4-6 years of enlistment ends with a damn good GI Bill.
Go to work at Walmart, hundreds and hundreds of colleges available at a dollar a day.

 

[Sneakers]

I don’t think that’s how it works. They merely back the loan as I understand it. My loans were guaranteed by the government but I still paid a bank.

That's what I remember too.

 

[Clem72]

That's what I remember too.

When I went to college Sallie Mae was still a government organization.

 

[Gilligan]

When I went to college Sallie Mae was still a government organization.

When I went to college, you really could pay your way by working at the same time. And I did. But I started college 46 years ago....costs were wildly less than now.

 

[SamSpade]

hundreds and hundreds of colleges available at a dollar a day.

I’d really like to hear about even one that is that cheap, even for just one 3 credit course.

 

[Sneakers]

IIRR, one tri-mester was between $3000-3500 for 12 credits for my Marine Science program back in '73-'75.