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Member |
How is this even a thing to be considered? Real money got transferred from a lender to a school to pay for a student. Teachers got paid. Books got paid for. Real money was transacted. Right? It was spent with a promise to repay by the student. Somehow the President has the authority to rip up the contract and the lender is SOL? When I phrase it like this, I don't even understand how any student can even come up with a rationalization for expecting not to pay. Oh kid you're right, your debt is too high--we'll just null and void the contract you signed. The contract means nothing. No problem. It's the same with landlords who are getting screwed. Year V | |||
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A Grateful American |
My bet is, the lenders get paid, the taxpayers get screwed. Well, while everyone is handing out "Oprah" Forgiveness, I ain't forgiving squat. "the meaning of life, is to give life meaning" ✡ Ani Yehudi אני יהודי Le'olam lo shuv לעולם לא שוב! | |||
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| Member |
Of course, yes. Man that is BS. Year V | |||
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Wait, what? |
It’s just another way for these crooked democRATS to buy votes with OUR tax dollars. Just the promise to forgive the debt will be enough to get the spoiled, lazy trash’s votes. Free shit free shit free shit. “Remember to get vaccinated or a vaccinated person might get sick from a virus they got vaccinated against because you’re not vaccinated.” - author unknown | |||
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| Ignored facts still exist |
I'm beyond pissed about this. I don't want to pay for some panty-waste's Art Appreciation degree. For those of us who worked through college, WITH A JOB, it's just a slap in the face. Then there were those who chose to not get into student loan debt by not going in the first place. And if the gvm't/welfare system is to help those most in need, it certainly isn't college grads who got a stupid meaningless garbage degree they don't want to pay for, and can't make a living at. ---------------------- Let's Go Brandon! | |||
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| Member |
The loans are guaranteed by the federal government. "Cancelling student debt" is just politician-speak for "the government (taxpayers) will by paying off everyone's student loans." I don't think it's the government's job to save someone from a bad business decision. If they are going to do anything, they should stop guaranteeing student loans and make them dischargeable in bankruptcy as long as the debtor surrenders the degree. That will minimize the burden on the taxpayers and cause the cost of a degree to have some rational relationship to its value. | |||
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Objectively Reasonable |
It's a slap, followed by the DEMs drunkenly pissing on your driver-side door handle. It's a straight vote buy. We will print money that your great-great-great grandchildren will be making payments on to fund this, hoping it will buy the left Four More Years and control of Congress. I worked two jobs while finishing college. I avoided borrowing to the extent I could; the little I did borrow was repaid far ahead of schedule. And I'm not even remotely alone. It's pure desperation, and they're not even trying to hide it. | |||
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| Get my pies outta the oven!  |
President Potato is really, really down in the polls with the Yutes and is desperate for something to save him in the midterms. | |||
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| Member |
This began during the Obama administration. I went to college 1971-75, did not take out any loans as I 1) worked summers and 2) used the GI Bill. Like other SF members, I am VERY unhappy with Biden's plan to forgive student loans. Our daughter graduated ten years ago with no loans; How can I get our money back? | |||
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Member |
Precisely. The taxpayer always hold the bag. And, don't, for a second, let them kid you that we are going to "tax the rich". There are not enough of them to make up the difference if you took ALL their money. Tax increases ALWAYS wind up on the back of the middle of the payers. That's where the sufficient quantity of taxpayers live to foot the bill. Place your clothes and weapons where you can find them in the dark. “If in winning a race, you lose the respect of your fellow competitors, then you have won nothing” - Paul Elvstrom "The Great Dane" 1928 - 2016 | |||
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Unflappable Enginerd |
So, as it turns out, it was the WH director of message planning. Shocking, eh.  __________________________________ NRA Benefactor I lost all my weapons in a boating, umm, accident. http://www.aufamily.com/forums/ | |||
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| Member |
Actually, it started with the passage of the Higher Education Act in 1965. It’s one of those things that started with good intentions - who would give an unsecured loan to an unemployed kid at anything resembling a reasonable interest rate? — but it gradually caused the cost of degrees to rise out of proportion to their value. Now a combination of predatory lenders and naive buyers has created a financial mess that, per usual, the responsible taxpayers are being asked to fix. | |||
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| Freethinker |
I’ve said all this before, but it bears repeating whenever this subject comes up: In 1947 Henry Hazlitt first warned in his book Economics in One Lesson of the dangers of government-sponsored programs to help people to purchase houses who couldn’t otherwise afford it. He pointed out that such programs would cause the prices of houses to rise for everyone and would encourage those who shouldn’t be buying houses at all under such a program to think that they could afford them, and rather than pursue that goal by the traditional means. That is of course exactly what happened with the student loan program, except with extra factors and bad consequences. Most of the people who take advantage of it are young with little or no experience with managing finances, much less dealing with massive debt, and they don’t know better than to unthinkingly pay the ever-increasingly higher costs of their education that the colleges are more than happy to charge because no one objects. I’m no economist and I didn’t know any better when it was started. I thought it was a good idea, but there should have been people who did know better and should have helped kill the idea when it was proposed. ► 6.4/93.6 “Wise men talk because they have something to say; fools, because they have to say something.” — Plato | |||
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| wishing we were congress |
https://hotair.com/jazz-shaw/2...llation-trap-n463284 Elizabeth Warren put forth some suggestions as to how the Democrats could salvage some sort of momentum heading into the midterms, which are currently shaping up to be a potential catastrophe for them. Most of her ideas, as with the majority of Democrats, involve lots more “free money” for people. One of her proposals is to make good on something that Joe Biden campaigned on in 2020, along with many others in his party. She suggests that they simply “cancel” some student loan debt, an action Warren claims Biden could do “entirely on his own.” Academic research suggests that canceling student debt helps the rich more than the poor. Some people owe a lot of money—not because they are poor—but because they were wealthy enough to make bad bets. That is to say, they took out a loan to purchase what they believed would be a valuable investment that would pay dividends later ( about half of all student debt is for graduate school). “Medical school graduates typically owe six-figure student loans but that doesn’t mean they are poorer than high-school graduates who did not go to college.” Should the person with the big medical school loan (for a degree that will make them millions over the course of his life) be forgiven, while the community college student who worked nights and weekends to pay for school gets nothing? The fact is that we have a broken and bloated student loan system precisely because the government created that system without considering the consequences. By making nearly limitless loans available to young people who might never be able or just get around to paying them back, colleges and universities were incentivized to raise tuition rates massively. To paraphrase a scene from Goodfellas when the mob was “busting out” a business owner, who cares how many checks you have to write? It’s not like anybody is going to pay the money back anyway. Warren’s proposal does nothing for all of the people with mortgages, car loans, or business loans. They will all rightly be saying ‘what about me? When do my loans get forgiven?‘ let’s remember yet again that there is no such thing as “free money” and that’s particularly true of the education system. People like to point out that K-12 public schooling is “free,” but it’s obviously not. The teachers and staff all get paid. There is maintenance to be done on the buildings, utilities to cover, and books and other resources to purchase. All of that has to be paid for and it is… by the taxpayers. If you try to cancel all of that student debt, the same will be true, only on a national level. And in the end, you will wind up filching the money from the people who managed to pay off their own loans and earn a living to cover the costs of those who didn’t | |||
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Shall Not Be Infringed |
Based on current evidence, it's NOT a good investment either... ____________________________________________________________ If Some is Good, and More is Better.....then Too Much, is Just Enough !! Trump 2024....Save America! "May Almighty God bless the United States of America" - parabellum 7/26/20 Live Free or Die! | |||
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| Lawyers, Guns and Money  |
Right. I sent my kids to parochial grade schools and Catholic high schools. The public schools were more expensive on a per pupil basis (expenditures divided by students) yet the private schools have better results. Why do we put up with that? "Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." -- Justice Janice Rogers Brown "The United States government is the largest criminal enterprise on earth." -rduckwor | |||
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| would not care to elaborate  |
I heard it's the same one who gives the press the bums rush when a press conference heads south. | |||
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| Member |
WH Director of Message Planning? I could do that gig! I would just tell Joe to put on his aviator shades, smile, wave and STFU. How do I apply for the job? End of Earth: 2 Miles Upper Peninsula: 4 Miles | |||
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| An investment in knowledge pays the best interest |
I paid off $200K in my and my wife's student debt. I'm not fucking joking that if they cancel student debt across the board, my tax returns will be stapled with the receipts demanding REPAYMENT WITH INTEREST! | |||
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Member |
Fauxahontas makes $375,000 a semester teaching at Harvard Law school, want to help student loan debt, take a pay cut. She got an interest free home loan from Harvard for close to 3 mil to buy her Cambridge home, and she’s 1/1027 Native American. | |||
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SIGforum.com Main Page The Lounge Joe Biden on the campaign trail: "If you like your health care plan, ..." // Biden demands immediate Israel ceasefire
Main Page The Lounge Joe Biden on the campaign trail: "If you like your health care plan, ..." // Biden demands immediate Israel ceasefire© SIGforum 2024