Student Loan Forgiveness

LungButter
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Edited Date/Time 10/25/2022 11:29am
Looks like ol' Sleepy Joe is gonna buy some votes by making the rest of us pay for student loans for folks who went to college to get a shitty job.

Awesome.
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8/24/2022 8:50am
Unless it is coupled with reform and regulation to fix the broken system that results in such absurd costs for higher education, I fear it is just that; a vote buying scheme.
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Falcon
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8/24/2022 8:53am
How about we regulate the interest and fees of these loans, instead of giving away free money for no reason?

Oh, wait. That's what we do in the US; give away free money. I forgot there's a money tree out behind the white house.
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MX915
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8/24/2022 8:53am
Slap in the face to people who planned, sacrificed, and worked hard to make it happen.
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TXDirt
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8/24/2022 8:55am
Student Loan Forgiveness

Call it what it is.

Shifting one person's debt and responsibility onto someone else.
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The Shop

TeamGreen
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8/24/2022 8:58am
Tax and Spend is what it is.

At the point we’re at…currently…in this economy…and he’s still out buying votes?

To the tune of at-least $300,000,000,000.00…?
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APLMAN99
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Fantasy
8/24/2022 8:59am
MX915 wrote:
Slap in the face to people who planned, sacrificed, and worked hard to make it happen.
Good point.

Also, cancer research is a slap in the face to all those people who died from it earlier........
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MX915
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8/24/2022 9:00am
MX915 wrote:
Slap in the face to people who planned, sacrificed, and worked hard to make it happen.
APLMAN99 wrote:
Good point.

Also, cancer research is a slap in the face to all those people who died from it earlier........
Apples to bowling balls.
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LungButter
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8/24/2022 9:01am
APLMAN99 wrote:
Good point.

Also, cancer research is a slap in the face to all those people who died from it earlier........
How is that even in the same realm?

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Not-a-Fan
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UpMeOwnBum, CA US
8/24/2022 9:02am
MX915 wrote:
Slap in the face to people who planned, sacrificed, and worked hard to make it happen.
APLMAN99 wrote:
Good point.

Also, cancer research is a slap in the face to all those people who died from it earlier........
Jesus bro you got longer arms than Decoster reaching like that.
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Titan1
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8/24/2022 9:20am Edited Date/Time 8/24/2022 10:20am
So many people screw off through college...finance way more than tuition and books on student loans (I know so many people that finance all living expenses and live completely off student loans during school), I know many parents who, rather than pay for the kids college, bought cars, when on trips, and otherwise didn't sacrifice for their kids education...

I know many people who partied little, slept less, worked 1 or 2 jobs, and got their education without a bunch of student loan debt, I know parents who lived below their means so they could pay for their kids college (coincidentally these people also seem to largely get degrees that would provide a good income for them and their families).

Yes, I'd be in the latter group...I worked through school, graduated with no student loan debt...did everything I could to get by without debt...and I did.

Just transferring the student loan debt of the people who didn't want to sacrifice during school to the tax payers, is an absolute slap in the face of the people who actually sacrificed for their/their children's education.

This is so so so so wrong.
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Titan1
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8/24/2022 9:34am
Falcon wrote:
How about we regulate the interest and fees of these loans, instead of giving away free money for no reason? Oh, wait. That's what we do...
How about we regulate the interest and fees of these loans, instead of giving away free money for no reason?

Oh, wait. That's what we do in the US; give away free money. I forgot there's a money tree out behind the white house.
"A 2017 study from the Federal Reserve Bank of New York found that the average tuition increase associated with expansion of student loans is as much as 60 cents per dollar. That is, more federal aid to students enables colleges to raise tuition more. Salaries rise; bureaucracies expand; more courses — from "History and Analysis of Rock Music" to "Ultimate Frisbee" — are offered; dorms, dining halls, and recreational centers become more lavish. Even with all this spending, employers don't find that new grads are well prepared for the workplace." - CATO Institute.
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ns503
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NS Toolies CA
8/24/2022 9:36am
What's going on down there now? Somebody got a link?
Titan1
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8/24/2022 9:37am
Derrick Johnson, the president of the NAACP, which has aggressively lobbied Biden to take bolder action, said Tuesday. "President Biden's decision on student debt cannot become the latest example of a policy that has left Black people — especially Black women — behind," he said. "This is not how you treat Black voters who turned out in record numbers and provided 90% of their vote to once again save democracy in 2020."

This dude is basically saying this is paying black people for their vote...good grief...at least they are admitting it now.

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peelout
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8/24/2022 9:38am
Titan1 wrote:
"A 2017 study from the Federal Reserve Bank of New York found that the average tuition increase associated with expansion of student loans is as much...
"A 2017 study from the Federal Reserve Bank of New York found that the average tuition increase associated with expansion of student loans is as much as 60 cents per dollar. That is, more federal aid to students enables colleges to raise tuition more. Salaries rise; bureaucracies expand; more courses — from "History and Analysis of Rock Music" to "Ultimate Frisbee" — are offered; dorms, dining halls, and recreational centers become more lavish. Even with all this spending, employers don't find that new grads are well prepared for the workplace." - CATO Institute.
i took a golf course in college and didn't even own a set of clubs. 20 years later and i've spent more on God-damned golf than some people spend on food.
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crowe660
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US
8/24/2022 9:46am
Does this have to get through SCOTUS? Because if that’s the case…
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str8line
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8/24/2022 9:59am
MX915 wrote:
Slap in the face to people who planned, sacrificed, and worked hard to make it happen.

Yup. You'd think with all of the money being handed out over the last few years that they'd have shelved this terrible idea.
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Yeti831
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8/24/2022 10:10am
What about those of us who were responsible and already paid them off? 🤔
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TXDirt
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8/24/2022 10:11am
Ukraine blank check
Inflation reduction bill
Tuition forgiveness bill

But dammit there is no money for school security!!!
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LungButter
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8/24/2022 10:14am
Yeti831 wrote:
What about those of us who were responsible and already paid them off? 🤔
Now you get to pay them off for the folks who went to school for Underwater Basket Weaving and 6th Century Egyptian Feline History Studies.
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str8line
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8/24/2022 10:20am Edited Date/Time 8/24/2022 10:26am
TXDirt wrote:
Ukraine blank check
Inflation reduction bill
Tuition forgiveness bill

But dammit there is no money for school security!!!
You forgot about covid. Over $4,000,000,000,000(yes, that's trillion) total, most of it free money, by both administrations.
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MudPup545
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8/24/2022 10:21am
APLMAN99 wrote:
Good point.

Also, cancer research is a slap in the face to all those people who died from it earlier........
No one chooses to get cancer.
Student loan? You signed the papers, you pay it back.
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Spurdo
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8/24/2022 10:24am
MX915 wrote:
Slap in the face to people who planned, sacrificed, and worked hard to make it happen.
APLMAN99 wrote:
Good point.

Also, cancer research is a slap in the face to all those people who died from it earlier........
Easily the worse take I've ever seen.
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str8line
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8/24/2022 10:24am
We would be better offering trade-school scholarships with this money, but that won't satisfy the promise he made.
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LungButter
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8/24/2022 10:28am
str8line wrote:
We would be better offering trade-school scholarships with this money, but that won't satisfy the promise he made.
The kind of folks who want to go to a trade school and learn to actually work for a living are not the kind of folks who's Votes he's trying to buy.
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vet323
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Lead, SD US
8/24/2022 10:30am
APLMAN99 wrote:
Good point.

Also, cancer research is a slap in the face to all those people who died from it earlier........
You usually post smarter than this.

This is the quite possibly the dumbest analogy in the history of analogies.
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str8line
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8/24/2022 10:32am Edited Date/Time 8/24/2022 10:33am
str8line wrote:
We would be better offering trade-school scholarships with this money, but that won't satisfy the promise he made.
LungButter wrote:
The kind of folks who want to go to a trade school and learn to actually work for a living are not the kind of folks...
The kind of folks who want to go to a trade school and learn to actually work for a living are not the kind of folks who's Votes he's trying to buy.
Exactly what I meant. This is for the voters he promised, nothing more.
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Joey_Bridges
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Kingston, TN US
8/24/2022 10:44am
APLMAN99 wrote:
Good point.

Also, cancer research is a slap in the face to all those people who died from it earlier........
Like I've said before.
You're an ignorant fool.
A complete, and total moron.
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dmm698
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NY US
8/24/2022 10:54am Edited Date/Time 8/24/2022 10:55am
Local community college for cheap while working to get associates degree, then 1.5 years at a good engineering school to finish bachelors degree, graduated with job lined up, paid the loans I accrued in the 1.5 years at university off early.

Its a slap in the face as i'd still be paying had I been just paying the standard 10 year repayment.

I get it some people have huge loans. But its a decision they made.

Ultimately, the thing that really bothers me the most is it does not address the actual issue. They will just raise the cost of tuition if the government is going to keep handing things out. They need to stop teaching so much fluff in high school, and start teaching financial courses in grade 9 so when it comes time to decide on trade school , college, or whatever else, the person is informed enough to make a decision. Mind boggling to me that people sign up for 100k of student loan debt, expecting a 100k/yr start salary, only to find out they ultimately will be making 40k/yr. The information was all available with starting median salary ect prior to signing on the dotted line.

I could be indifferent to a reduction of interest, but I am completely against some blanket forgiveness. It also penalizes anybody who was intelligent enough to get out of the federal backed loans at super high interest rates, into private loans at lower rates. As they dont qualify for anything.
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McG194
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8/24/2022 11:01am
Hey there Mr. Blue Collar Man. We know that you make less than a college grad (at least one who chose a useful degree.) how about you pony up to help pay off student debt. The sooner we get student loans paid off the sooner that MBA holder can purchase his vacation home thereby strengthening the economy.
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Titan1
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8/24/2022 11:28am
So is anyone going to defend this? Or is it the general consensus that its a bad idea, and nothing but trying to buy votes?
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