quote:

Potential Forgiveness of Student Loans?

I don't like it either, but potential is all it is right now. Resident Potato can't do it all by himself. He has to have a minimum of 269 people (218 in the House, 50 in the Senate, plus Harris' tie-breaker) to send him the bill. This may or may not happen this cycle. Politicians float turds like this all the time. Some get flushed, some don't.

My daughter and both daughter in laws who work in the public education system get their loans forgiven after paying on them for ten years. As long as they do not miss a payment for ten years the balance is forgiven.

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Originally posted by rwilli:
I probably wouldn't have a big problem with it if the money was used for books and tuition. Unfortunately to much of the student load debt went to new cars, bigger apartments, new furniture, Las Vegas Vacations (That was me)etc. So, considering all of that----Each need to pay for their loans as they agreed--including me.

Additionally, not a dime should be spent on those schools deemed predatory---U.of Phoenix, ITT etc,

You forgot the Really and Truly Predatory Schools who have created this mess we are in. You know them well Harvard, Yale, Princeton, Brown, Rutgers, and all the other Ivy League conspirators.

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You forgot the Really and Truly Predatory Schools who have created this mess we are in. You know them well Harvard, Yale, Princeton, Brown, Rutgers, and all the other Ivy League conspirators.

^^^^^^^^^^^^
You have to be joking. The kids from poor families do not pay a dime to attend Harvard. The other students hardly come from destitute backgrouns and often pay their own way without a loan. Online schools
would fit this category, not Ivy League schools. Addiionally a degree from these schools carry some weight.

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Originally posted by Rey HRH:

quote:

Originally posted by TKE-AX611:

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Originally posted by Rey HRH:
I say people who graduated with onerous student debts should get some help. Thankfully, the $15 minimum wage will be coming soon so that the people earning minimum wage can help their better educated compatriots. They said trickle down economics has never worked so it's high time we try trickle up economics!

Why should they receive help? What entitles them to just be able to write off a legitimate debt they incurred? Maybe someone should repay my truck loan just because I don't want to repay it?

Taken all together, it was supposed to be taken as sarcasm that didn't need to be explained, especially with the trickle up economics and minimum wage workers helping to pay off student loans of college educated people who supposedly would qualify for better than minimum wage jobs.

I've never been accused of being the sharpest knife in the drawer! The intended sarcasm totally flew in under my radar.

quote:

Originally posted by Rey HRH:
I say people who graduated with onerous student debts should get some help. Thankfully, the $15 minimum wage will be coming soon so that the people earning minimum wage can help their better educated compatriots. They said trickle down economics has never worked so it's high time we try trickle up economics!

The $15.00 minimum wage is going to put a lot of entry level people out of work and raise prices of a lot of things, not to mention the fact that after the entry level people get $15, then the people above them currently getting $15 will want $20 and so on and so on.

The net result will be that everything will go up in price, buying power will go down and we'll end up worse off than we were to start with.

My parents paid my tuition room and board. I worked so the income covered clothes, car, and insurance. My wife got nothing from her folks and worked her way through school. Both our kids got the same deal. We didn’t take out loans. We did eat a lot of hot dogs and pasta. Vacations were out.
When Elizabeth Warren was campaigning she got confronted by a father:

“ My daughter is in school,” the man said. “I saved all my money just to pay my student loans. Can I have my money back?

“Of course not,” Warren responded.

“So you want to help those who don't save any money and the ones that do the right thing get screwed?” he responded.

The man went on to say that his friend makes more money than him and instead of paying off his loans, the friend bought a car and went on expensive vacations.

“I saved my money,” the man said. “He made more than I did. I worked a double shift, worked extra ... so you’re laughing at me.”

“No I’m not,” Warren responded.

“Yes that’s exactly what you’re doing,” the man said. “We did the right thing and we get screwed.”
https://www.cbsnews.com/news/e...er-on-student-loans/

Yes, we got screwed.

The more "easy" money available the higher tuitions go. Colleges love it. Just like our medical system. Once government is involved the higher costs go.

Every parent should have a talk with their child. If college is the path then their education will be 2 years of junior college at a fraction of the price of 4 year schools. Then you will finish off in state and living from home if possible. It still costs too much and that is fixable with the proper will but it is affordable using this basic template. No one would be crushed under towering debt or whatever hyperbole is currently in vogue. No studying abroad either. Is it an education you seek or an experience? Because enlisting in the Army is an experience as well, plus they pay you.

Biden-Kamalamadingdong just announced that people who are delinquent on their student loan debt will no longer be prohibited from getting forgivable PPP loans. Since, you know, they've demonstrated that they're capable of repaying government loans. *cough*

Felons will be able to get this free money also.

https://www.whitehouse.gov/bri...le-access-to-relief/

Sure, as long as they write me a check for 50k to make things even. I didn’t attend college, I went to work after high school and did so full time for 47 years and into retirement still working albeit part time.

And on that note, both our kids paid off their school debt. Shouldn’t they get a rebate too?

I'm inclined to believe it's pure pandering and won't ever be acted on. After they get elected why bother? Just bring it up in the next election cycle. Rinse and repeat.