Student Loan Forgiveness

Titan1 wrote:

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?

MotoTribology wrote:

I'm not against partial forgiveness or assistance programs, but if it isn't coupled with some plan to end the predatory lending practices and institutional corruption that...

I'm not against partial forgiveness or assistance programs, but if it isn't coupled with some plan to end the predatory lending practices and institutional corruption that has led us to this point........then what's the point?

To borrow from another's analogy; it's a (very expensive) bandaid placed on the skin when the cancerous mole needs removing.

TeamGreen wrote:

Apple seems to think it's linked to curing cancer.

Yeti831 wrote:

What about those of us who were responsible and already paid them off? 🤔

LungButter wrote:

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.

MotoTribology wrote:

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...

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.

vanillaice782 wrote:

I used the Pell Grant for a little while, and I paid the rest of that debt off. I guess I'll get a check for 20K...

I used the Pell Grant for a little while, and I paid the rest of that debt off. I guess I'll get a check for 20K then? I don't understand why Pell Grant recipients get double. They already got the benefit of the Pell Grant, which is free money. My wife has student debt, I guess she will qualify.

McG194 wrote:

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...

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.

Titan1 wrote:

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...

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.

Cayden Thompson wrote:

Hi Vital, I did my best to pay my way through school while pursing a lucrative degree (Construction Management). I went to the cheapest college I...

Hi Vital,
I did my best to pay my way through school while pursing a lucrative degree (Construction Management).
I went to the cheapest college I could, worked part time while doing full time time school, lived in the cheapest place I could, picked up side jobs, donated plasma, sold some of my things, drove a POS car, no vacations, etc
However, I did have to end up taking out $7,000 worth of student loans (not that much) my last 2 semesters to cover living costs because I ran out of cash.

I'm now $7,000 dollars richer. Should I buy a KTM 300SX or stand up jetski?

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........

jetbull721 wrote:

"The problem with democracy is the people eventually vote themselves into bankruptcy" The US Government’s Biggest Financial Asset: Student Debt [url=https://finance.yahoo.com/news/us-government-biggest-financial-asset-212757531.html]https://finance.yahoo.com/news/us-government-biggest-financial-asset-212757531.html[/url] [img]https://p.vitalmx.com/photos/forums/2022/08/24/565332/s1200_us_assets.jpg[/img]

"The problem with democracy is the people eventually vote themselves into bankruptcy"

The US Government’s Biggest Financial Asset: Student Debt

https://finance.yahoo.com/news/us-government-biggest-financial-asset-212757531.html

TXDirt wrote:

Ukraine blank check
Inflation reduction bill
Tuition forgiveness bill

But dammit there is no money for school security!!!

Donkey Kong wrote:

People hating on this don't understand how predatory interest rates are on these loans. There's millions of people with loans who never miss a payment but...

People hating on this don't understand how predatory interest rates are on these loans. There's millions of people with loans who never miss a payment but owe the same or even more money than they originally borrowed because of the interest rates.

Donkey Kong wrote:

A lot of miss info in this thread so give this a read.

https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/24…

Donkey Kong wrote:

People hating on this don't understand how predatory interest rates are on these loans. There's millions of people with loans who never miss a payment but...

People hating on this don't understand how predatory interest rates are on these loans. There's millions of people with loans who never miss a payment but owe the same or even more money than they originally borrowed because of the interest rates.

reded301 wrote:

Seems crazy that there could be any sort of drought in the world with all these liberal tears flowing for those who refuse to help themselves.