My DIL had $70,000 in student loans. My nearly worthless younger son told her she should pay it herself. She did. But among the things she bought did include a modest car.

I wonder how she feels now that she could have gotten it free from uncle joe.

the way I see it, if you don't pay for your car, they take it back. don't pay for your house, you lose it. So don't pay for your student loan, they take back whatever degree your did not pay for. simple as that.
Barry

I wonder if Biden knows that only Congress can do this.

Guys I really hope this doesn't happen. I got up this morning and had a small feeling of "why bother". I saw my daughter and promptly got my butt up and moving.

If this passes, then in 2024 Trump gives every republican $1,000,000

^^^^ I'm down with that. In 2024, you could probably by 1oz of silver for that million.

I'm proud of my son for putting in the work to get a Masters degree.

Now that he and his wife both bring home 6 figure salaries, I'm ashamed of him for not paying back his loans.

They think it's just a smart financial decision. I think it's a character flaw.

quote:

They think it's just a smart financial decision. I think it's a character flaw.

^^^^^^^^^^
For some people that is true. It makes them think there really is a free lunch. It is socialism pure and simple. Ask them who they think is paying the bill.
I am sure you remember the kid who worked two jobs to buy a clunker and the boy who had a brand new car paid for by his Father.

quote:

Originally posted by smschulz:
So those of us that worked and paid for college ourselves ought to get a rebate.
Where is my check?

DING DING!!!

Yeah, I'm pissed. I busted my ass through college, working a part time job and a full time summer job, while also being a full time student. Even with that and various grants/scholarships/waivers that I earned, I had to take out ~$16,000 in loans for my undergrad degree. I then worked hard to pay them off after graduation, working in a career to which my degree directly applies.

I guess I should have just ignored the loan bills, dicked around for several more years, and waited for Uncle Sugar to give me a handout.

But as long as all the Starbucks baristas with 17th Century Feminist German Literature degrees are happy now, I guess that's what matters.

I guess the silver lining of this is that it's one more thing that may galvanize some Rs to get off their ass and get out and vote. It's not going to convince anyone to vote for him that wasn't already going to vote for him.

Our country is dying and the deadbeat scum bags want more.

Great! They get free tuition for a second rate education and now, they can go on welfare.

College/Universities should be the ones making the loans, not the Government and it is their responsibility to collect on them. If their education is worthless and their graduates can't repay... then adios motherfuckers. They shouldn't be able to operate and infect our society with their "education."

quote:

Originally posted by Hildur:
College/Universities should be the ones making the loans, not the Government and it is their responsibility to collect on them. If their education is worthless and their graduates can't repay... then adios motherfuckers. They shouldn't be able to operate and infect our society with their "education."

I agree with you. I was leaning toward private banks for loans, but yeah the University should loan out some of that endowment. Put their money where their mouth is.

Detroit News has an article in the Business section “What is a Pell grant?” that is not behind a paywall.

They interview one person, here’s her “sad” story:
For Yaneth Peña, however, the money will make a difference. Peña graduated from North Carolina State University in 2014. She obtained about $4,000 in grants and approximately $25,000 in federal loans. Under Biden’s forgiveness plan, her debt would be whittled down to $5,000.

Relieved of the financial burden, Peña said she could now seriously pursue a graduate degree — something she said she hesitated to consider in the past because of her loans.

So, she gets a free pass with her Pell Grant, gets 20k of her debt erased allowing her a “fresh start” and then decided to pile on more debt for another degree. And guess what her next request is?

Nothing but desperation of trying to buy votes for November.

quote:

Originally posted by shovelhead:
So, she gets a free pass with her Pell Grant, gets 20k of her debt erased allowing her a “fresh start” and then decided to pile on more debt for another degree. And guess what her next request is?

Give them an inch and they'll take a mile.

I wonder what the odds of this actually happening will be .. given all of the legal challenges that will be coming (including up to the Supreme Court).

Is it even legal for the President to unilaterally decide something that will cost the taxpayers 500 billion dollars at this point? Seems like this is something that Congress should have to approve?

I have to LOL at the various woke groups already bitching that $10,000 is simply not enough and their particular "oppressed" group should get far more.

And my wife who will is paying student loans for graduate school gets screwed as hers are private loans.

This is straight up a desperate attempt at vote buying by an idiot Prez whose poll numbers are in the shitter with the group he's trying to bribe here.

quote:

Originally posted by PHPaul:
I'm proud of my son for putting in the work to get a Masters degree.

Now that he and his wife both bring home 6 figure salaries, I'm ashamed of him for not paying back his loans.

They think it's just a smart financial decision. I think it's a character flaw.

Paul, even with the bailouts of $10-20K per student, would your son still have an outstanding balance? I'm imagining those graduates with $80K in debt that now drops to $70K. It helps, but it's a drop in the bucket. I can't imagine what it does for those dopes with $100-150K in loans.

I would agree that he should pay his loan on his own.

My daughter attended Boston University for her first three semesters before quitting and transferring back to California to attend the local junior college that my wife and I attended (yes, we snickered! The HaHa from the Simpson's Nelson?). Even with grants and our contribution, her yearly bill at BU was $35K (down from the retail of $73k). She realized that the long term prospect of crushing student loan debt was too much to take on. Her three semesters at BU left here with $8K in loans. My wife and I told her we would not co-sign for student loans. She made the mature decision to abandon BU and eventually transfer to a state school. She'll graduate the December. She works full time at a prominent burger joint where they offer tuition reimbursement. She'll finish her degree without any additional debt. Will she take the Biden handout? I don't know, I haven't talked to her yet but my guess is she will because it will completely wipe out her debt. I too think it's a character flaw. She's probably thinking "why not? I'd be stupid not to take it."

She also bought a used car ($5K) which we helped purchased 50/50. She paid me back in 3 months. She's living with a roommate, pays her bills, and doesn't ask for handouts from us.