Student loan 'Forgiveness",Too little to help anyone, just enough to make everyone angry

[CTBay]

It would wipe out over half my loan debt, because I was at least reasonably responsible in my borrowing.

Drop in the bucket for the Democrats constituency, though. The average laptop class Dem is carrying $60-100,000+ in debt on their moronic media and grievance studies graduate degrees.

Still not clear on how the executive can unilaterally spend, or fail to collect (which is spending), a couple hundred billion dollars just like that. Isn't Congress supposed to be the ones who decide spending?

I don't think the inflation hit would be that dramatic, remember the federal government hasn't been pulling in much of anything on loan payments in the last two years. This effect would be over time, though ultimately it is more money printing.

It's probably not going to really happen, though. They'll talk a big game before the midterms to buy votes, just like last time. And, just like last time, they intend to renege after the election. Especially when they get wiped out in Congress. It's Lucy and the football. The feds badly need to extract those loan payments and ultimately they're not going to stop.

Honor the agreements you make. Period.

 

[VERT]

This is building a voter base pure and simple. Using our money to lock in more mindless lefty useful idiots.

I agree they are appealing to a voter base. An energetic new base that is anxious to vote and change the world. But building a base, ……. As these voters age and gain wealth they will slowly change.

What they will do is temporarily prop up the over priced, under valued college education.

 

[Kevin9443]

If you get the education you should ay for it. Education is not something that can be taken back or repo'd. It is just lazy people trying to get something for free. I am sick of all the snowflakes thinking they are special and they should get different rules. But the Demotards are buying votes again

 

[Shadow01]

We should demand this be a 10k check to every adult citizen. If we are going to ruin the economy and the country, lets do it right.

 

[BugI02]

They aren't stealing your money for this. Your stolen money is already spent. This is more debt. The Fed has absolutely no restraint anymore when it comes to spending. They are on a sled going down a mountain picking up speed. Some day that sled is going to come to a cliff and we will all go tumbling over it.

Some on here actually voted for this mess, and some still defend that choice

It is also my understanding that this is not 'forgiveness', as in the lender forgoing $10k of their note - it is the gov't just transferring $10k to the lender for each account without even any sort of means test

Hunter could get $10k off his tuition bill at The University of Coke & Whores

 

[Shadow01]

Why not require the universities to refund 10k in payments for each student made back to the lenders? Have socialists indoctrination centers set the tone for the nation…

 

[BugI02]

Food shortage. Baby formula shortage. Nurse shortage. Trucker shortage. Border crisis. And this is the focus?

Anyone wanna convince me they aren’t trying to intentionally destroy America? buy votes in the 2022 midterms

 

[chipbennett]

Some on here actually voted for this mess, and some still defend that choice

It is also my understanding that this is not 'forgiveness', as in the lender forgoing $10k of their note - it is the gov't just transferring $10k to the lender for each account without even any sort of means test

Hunter could get $10k off his tuition bill at The University of Coke & Whores

How, exactly, does a "means" test work in this scenario? Because I a) chose a degree with a good ROI, and b) responsibly managed my budget so that I could pay off my own student loan, does that mean that I don't meet the "means" test, and therefore should have to bear the tax burden required to give away money to those who acted less responsibly, and therefore meet this "means" test?

I'll take a $10,000 below-the-line tax credit. At least, that way, I'm just getting to keep my own money that I earned myself.

 

[BugI02]

This is building a voter base pure and simple. Using our money to lock in more mindless lefty useful idiots.

“The problem with socialism is that you eventually run out of other people's money.”
― Margaret Thatcher

And then, when they run out of other people's money, they become ruthless and people discover all over again that you can vote in communism but you have to shoot your way out of it

 

[churchmouse]

“The problem with socialism is that you eventually run out of other people's money.”
― Margaret Thatcher

And then, when they run out of other people's money, they become ruthless and people discover all over again that you can vote in communism but you have to shoot your way out of it

No, they ran out a while back. This is all fresh off the presses.

 

[KLB]

“The problem with socialism is that you eventually run out of other people's money.”
― Margaret Thatcher

And then, when they run out of other people's money, they become ruthless and people discover all over again that you can vote in communism but you have to shoot your way out of it

They ran out of other people's money a long time ago. It will be when the country collapses under this debt that your quote will come to fruition.

 

[Hatin Since 87]

I'll take a $10,000 below-the-line tax credit. At least, that way, I'm just getting to keep my own money that I earned myself.

^^^^^^


I don’t want anyone’s money, I just wanna keep mine. If I need more, I’ll work more, find a new employer, or invest in education for a field that will pay more for my time.

 

[actaeon277]

Why not require the universities to refund 10k in payments for each student made back to the lenders? Have socialists indoctrination centers set the tone for the nation…

I've brought this up before.
Since colleges/universities think "debt forgiveness" is such a great idea, they (colleges/universities) should pay it.

 

[HonkieKowboy]

The fact that this is effectively taking money away from the working class, and giving it to the highest earners in the country (college graduates) is like reverse-communism: instead of taking the money from those that earn more to those that earn less, now it is taking money from those that earn less and giving it to the wealthy.

 

[Knight Rider]

Everyone keeps referring to giving money to the wealthy and leaving the poor with the bill. I pay multiples of $10K in federal tax each year and have always kept my lips off the govt milk bags. Half of the country pays zero federal taxes and many of those actually receive payments.

How is it that me getting a one time reprieve from $10K of my annual contribution to the cause is unfair to anyone? When I become a net taker, which will never happen, then I’ll entertain the concept. Until then, I will never pass on an opportunity to keep my own hard earned money.

 

[KLB]

The fact that this is effectively taking money away from the working class, and giving it to the highest earners in the country (college graduates) is like reverse-communism: instead of taking the money from those that earn more to those that earn less, now it is taking money from those that earn less and giving it to the wealthy.

First, it is taking money from no one. They are printing more.

Second, a lot of these people with loans are working at Starbucks or some such, far from the highest earners in the country.

 

[KLB]

Everyone keeps referring to giving money to the wealthy and leaving the poor with the bill. I pay multiples of $10K in federal tax each year and have always kept my lips off the govt milk bags. Half of the country pays zero federal taxes and many of those actually receive payments.

How is it that me getting a one time reprieve from $10K of my annual contribution to the cause is unfair to anyone? When I become a net taker, which will never happen, then I’ll entertain the concept. Until then, I will never pass on an opportunity to keep my own hard earned money.

You don't see how people that paid their loans themselves or never had loans would see it as unfair that others are given $10K towards paying theirs for no reason other than they are breathing?

 

[edwea]

First, it is taking money from no one. They are printing more.

Second, a lot of these people with loans are working at Starbucks or some such, far from the highest earners in the country.

This is probably true, but why is this? Lack of will to work is my guess. Jobs are out there, and good paying ones too. Even if they aren't in your major area of study. This was the case for me. I ditched my major area of study (after graduating) and have a great paying job as an electrician. And guess what...loans are paid off.

 

[phylodog]

We should demand this be a 10k check to every adult citizen. If we are going to ruin the economy and the country, lets do it right.

But that would require the hypocrites to treat everyone fairly. That ain't never been nor will it ever be their goal.

 

[phylodog]

There is an obvious cost to printing more money. We're all paying for it now with $6/lb ground beef and $5+ diesel. They're handing tax money to their cronies who have been indoctrinating and brainwashing their constituents while buying votes from those who obviously shouldn't have gone to school to begin with.