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student debt forgiveness is back

RPDBlueMoon

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18 yr olds signing contracts for large sum loans is something that should be warned against, not encouraged. Stop guaranteeing the loans and tuition will come down naturally.
I don't think the tuition will ever go down unless it gets subsidized. Not an economics expert but I believe its one of those 'too big to fail' situations.
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Arknsawchuck

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Out of interest, how do you happen to know the circumstance of this persons income? Is it a possibility that they may have an inheritance or some other form of income that you don’t know about?
Because "this person" told him her entire story. No guessing or mystery involved.
 

Briebee72

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everybody up in arms tax payer money will help people out of debt but then have no issues with this crap https://www.ajc.com/news/nation-wor...tting-on-billions/INWJ7SJ63RAI5OJRU5QRUS6N6M/ wasting 3 billion worth of tax payer money. This is the sort of stuff people should actually be up in arms about. billion dollar business and religions collecting milions and billions more just because they can and screwing everyone. at least with student debt forgiveness real people get real help instead of companies just getting bigger bank accounts. and last time I check are not churches free from paying taxes? yet they can collect all this money from tax dollars? at least with student loan forgiveness people get back some of all those taxes they have payed over the years.
 

sk47

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everybody up in arms tax payer money will help people out of debt but then have no issues with this crap https://www.ajc.com/news/nation-wor...tting-on-billions/INWJ7SJ63RAI5OJRU5QRUS6N6M/ wasting 3 billion worth of tax payer money. This is the sort of stuff people should actually be up in arms about. billion dollar business and religions collecting milions and billions more just because they can and screwing everyone. at least with student debt forgiveness real people get real help instead of companies just getting bigger bank accounts. and last time I check are not churches free from paying taxes? yet they can collect all this money from tax dollars? at least with student loan forgiveness people get back some of all those taxes they have payed over the years.
Hello; Again a wrong assumption. I for one am against many of the ways tax dollars are being spent. At first look the link you provided also seem s to be one sort of spending I do not favor in addition to the proposed student debt forgiveness. The comparison as to which is the least rewarding to taxpayers is far from the point. Both can be improper uses of taxpayer monies.

Back when the quickly put together Covid 19 spending packages were put together they were not well done. An old story. The various members of a government have the text of things on hand just waiting for some sort of situation where they can add that bit to some large bill. The idea is the small bit they throw in will not be looked at too closely if there is a pressing need (real or imagined need) in the large bill. A crisis is an idea situation. No branch of a government wants to be the "bad" guy who holds up such a "needed" bill. So lots of unrelated things get passed which would not be passed on it own merits.

To be sure a number of well to do businesses also got chunks of the covid19 stimulus money in the past rounds. If memory serves this included some colleges with very healthy bank accounts as well as some others.

So on this particular item we are in the same page. We still are at odds on the student loan forgiveness notion however. Welcome back to the discussion. Perhaps we can find other items in common of government spending we are opposed to. I have a few never brought into this thread.
 

sk47

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Democrats unveil plan to erase $50,000 of student loan debt (msn.com)

Hello; Some want an immediate EX order to cancel 50K of student loan saying the law allows this. Apparently there is some question about the law as the administration wants congress to pass a law for around 10K.
It is getting real. Claims of how the 50K forgiveness will be good for the economy are made in the link, but not explained. I can see how it would be good for those actually getting debt forgiveness.

That the money not paid back by the borrowers who owe it will still be on the books and will add to the debt burden of all taxpayers is not addressed.
I tend to be confused about how massive borrowing to spend on such programs is a benefit to the economy. We do not have enough tax dollars from regular sources so the difference is borrowed every year to bridge the difference. We do not pay off any of the principal owed on the national debt and have not for decades, not one penny gets paid off. The debt keeps growing and all we do is pay the interest due. Even that interest is projected to be a greater and greater percentage of yearly federal spending as it has been for years. Every year the cost of paying only the interest has been growing. The fed has artificially kept the interest payments some lower than they might have been by keeping the FED rates at near zero, but that is another practice which has consequences.

I would like to see how the payoff will work long term. Seems to me the billions added to the national debt will just be adding to the ongoing interest payment which will for sure be coming due each year.
 

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RPDBlueMoon

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Democrats unveil plan to erase $50,000 of student loan debt (msn.com)

Hello; Some want an immediate EX order to cancel 50K of student loan saying the law allows this. Apparently there is some question about the law as the administration wants congress to pass a law for around 10K.
It is getting real. Claims of how the 50K forgiveness will be good for the economy are made in the link, but not explained. I can see how it would be good for those actually getting debt forgiveness.

That the money not paid back by the borrowers who owe it will still be on the books and will add to the debt burden of all taxpayers is not addressed.
I tend to be confused about how massive borrowing to spend on such programs is a benefit to the economy. We do not have enough tax dollars from regular sources so the difference is borrowed every year to bridge the difference. We do not pay off any of the principal owed on the national debt and have not for decades, not one penny gets paid off. The debt keeps growing and all we do is pay the interest due. Even that interest is projected to be a greater and greater percentage of yearly federal spending as it has been for years. Every year the cost of paying only the interest has been growing. The fed has artificially kept the interest payments some lower than they might have been by keeping the FED rates at near zero, but that is another practice which has consequences.

I would like to see how the payoff will work long term. Seems to me the billions added to the national debt will just be adding to the ongoing interest payment which will for sure be coming due each year.
I still won't believe it until it gets signed into law. Can't tell you how many times Democrats or Republicans unveil these "plans" that end up getting gutted and are meaningless by the time they pass through the senate, and even then I doubt Biden would sign it. The Democrat party is still fragmented with moderates and progressives. This is just the progressive virtue signaling so they can look good.

First words from the article: A group of progressive Democrats announced a resolution on Thursday that demands President Biden use executive action to cancel $50,000 in federal student loan debt. The measure is unlikely to succeed given Mr. Biden's more moderate campaign promise of up to $10,000 in debt forgiveness via Congressional action.
 

jtmat

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This is just the progressive virtue signaling so they can look good.
Yes...

Temp: Need to determine if throwing money can help this issue (won't solve it!). If so, how much money can help? What else short-term can help vs. throwing money at the issue? Need to see some numbers. What are the downsides?

Long-term: Find out the "real" issue(s) and fix it/them.

This comes off as lazy. No work outside of signing a piece of paper and walking to a mike. That does not cut it... need to do some real work and do it in a bipartisan manner - just like President Biden suggested.
 

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Saw this yesterday on the MSN homepage and it made me smile. I had to take a screen shot of it for "future use" I said to myself. LOL

InkedFree College___NAWWWW_LI.jpg
 

Briebee72

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Saw this yesterday on the MSN homepage and it made me smile. I had to take a screen shot of it for "future use" I said to myself. LOL

InkedFree College___NAWWWW_LI.jpg
And all the no responses were people who had no loans and allready paid off and all the yes we're people with loans and all the I don't knows we're people with no college at all
 

sk47

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And all the no responses were people who had no loans and allready paid off and all the yes we're people with loans and all the I don't knows we're people with no college at all
Hello; you have no way to know these things is my take. The comments appear to be unsupported opinions of your own. Please back up such strong comments if you can.

I, for example, have no idea why those who had a yes response did so. I can make a guess or few but such a guess would be just as much unsupported as your comments are to this point.

An interesting strategy on your part tho.
 

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RPDBlueMoon

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Yes...

Temp: Need to determine if throwing money can help this issue (won't solve it!). If so, how much money can help? What else short-term can help vs. throwing money at the issue? Need to see some numbers. What are the downsides?

Long-term: Find out the "real" issue(s) and fix it/them.

This comes off as lazy. No work outside of signing a piece of paper and walking to a mike. That does not cut it... need to do some real work and do it in a bipartisan manner - just like President Biden suggested.
Yeah basically, just calling out the president and putting him on the spot instead of doing your job lol. Its a win win situation, because you get to satisfy your brainless constituents, guaranteeing your votes, while also not doing your job.

What is really sad is that people gobble this shit up
 

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And all the no responses were people who had no loans and allready paid off and all the yes we're people with loans and all the I don't knows we're people with no college at all
Maybe??
But, no way to know for sure.
 

Atlas1

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And all the no responses were people who had no loans and allready paid off and all the yes we're people with loans and all the I don't knows we're people with no college at all
Which nicely sums up the state of our country. The poors vote for free shit for themselves and those that work, save, and are responsible would rather not pick up the tab. Unfortunately the number of leeches is outweighing the productive segment of the population and they get to vote too. The funniest part of it all in regards to student loans is a majority of that debt is held by wealthy liberals with post grad degrees in complete and utter bullshit fields of study. The leeches think this loan forgiveness has anything to do with them lol.
 

FreePenguin

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Which nicely sums up the state of our country. The poors vote for free shit for themselves and those that work, save, and are responsible would rather not pick up the tab. Unfortunately the number of leeches is outweighing the productive segment of the population and they get to vote too. The funniest part of it all in regards to student loans is a majority of that debt is held by wealthy liberals with post grad degrees in complete and utter bullshit fields of study. The leeches think this loan forgiveness has anything to do with them lol.
this.
 

jtmat

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Which nicely sums up the state of our country. The poors vote for free shit for themselves and those that work, save, and are responsible would rather not pick up the tab. Unfortunately the number of leeches is outweighing the productive segment of the population and they get to vote too. The funniest part of it all in regards to student loans is a majority of that debt is held by wealthy liberals with post grad degrees in complete and utter bullshit fields of study. The leeches think this loan forgiveness has anything to do with them lol.
While Dem states have the most loans, Republican states have the most in default. Seems that Dems are, as you note, being responsible.

But neither one of our comments get to fixing the issue at hand.
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