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

[rob63]

The other thing that is soooo aggravating about all of this is that they are doing absolutely nothing to control the costs of going to college. Thus, it also amounts to payments to another of the Dem constituencies;' all of the college administrators that do nothing but push lib propaganda.

 

[Kirk Freeman]

Since I paid my school debt off in 2002 like a fool, I demand a 10K tax credit OR two (2) hours in a federal warehouse that I select with a giant shopping cart.

Kirk's Dad: "Kirk, pay off your debt and live 2 clicks down that way your SEP will be full and your troubles empty."

Kirk: "I'm just going to demand that the federal government give me things."

 

[KLB]

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.

So you basically wasted your time and money at college?

Trades are beneath a lot of those people. Obviously someone with a degree in women's studies should be making $100K.

 

[edwea]

So you basically wasted your time and money at college?

Trades are beneath a lot of those people. Obviously someone with a degree in women's studies should be making $100K.

Probably wouldn't do it exactly the same if I could do over, but wouldn't call it a waste either. Go figure. Also, the where's, when's, and how's kept my debt load low compared to some of the numbers we hear about now.

 

[Timjoebillybob]

So you basically wasted your time and money at college?

Trades are beneath a lot of those people. Obviously someone with a degree in women's studies should be making $100K.

In some cases it depends. My nephew works in something completely unrelated to his degree, but the company he works for requires a degree to work in management. It doesn't matter what the degree is in, they just have to have a degree.

 

[Leadeye]

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…

They should strip every penny in student loan forgiveness out of colleges. They are the ones that made good bank on this fraud.

 

[Shadow01]

The other thing that is soooo aggravating about all of this is that they are doing absolutely nothing to control the costs of going to college. Thus, it also amounts to payments to another of the Dem constituencies;' all of the college administrators that do nothing but push lib propaganda.

Supply and demand. When applications drop off enough, the price will come down. You don’t need a degree to be successful.

 

[HoughMade]

Since I paid my school debt off in 2002 like a fool, I demand a 10K tax credit OR two (2) hours in a federal warehouse that I select with a giant shopping cart.

Kirk's Dad: "Kirk, pay off your debt and live 2 clicks down that way your SEP will be full and your troubles empty."

Kirk: "I'm just going to demand that the federal government give me things."

I forget when I paid mine off, it's been a while....but I want the same deal.

 

[Kirk Freeman]

I forget when I paid mine off, it's been a while....but I want the same deal.

Ya know, if we work together (definitely a training montage), think of all the stuff we can get in the oversized shopping cart in Oklahoma.

 

[Kirk Freeman]

BTW, we are doing McAlester, right?

 

[BugI02]

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.

I suspect you would feel different if you had no eligibility

And you're not the only one who pays a high effective rate, there Kemosabe

The point is moral hazard

 

[BugI02]

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

Then they chose unwisely

 

[Knight Rider]

I suspect you would feel different if you had no eligibility

And you're not the only one who pays a high effective rate, there Kemosabe

The point is moral hazard

Actually I have no eligibility. I refinanced all my parent plus loans privately and will pay them off in full well into my retirement. . They are not subject to federal discharge.

My point is the same. The poor don’t pay tax now and won’t be burdened with any responsibility for government spending in the future.

Not sure what you mean about the high effective rate, but not really relevant. People should always be responsible for their own obligations and debts. But I will never feel an ounce of guilt when the opportunity presents itself for me to legally keep my own wealth from government confiscation or when those same idiots choose to include me in their “handouts”.

 

[dudley0]

In some cases it depends. My nephew works in something completely unrelated to his degree, but the company he works for requires a degree to work in management. It doesn't matter what the degree is in, they just have to have a degree.

Neither of my kids are working in the same field of study that they chose in college.

I told them to learn how to learn. Then use that with whatever they wanted to do. Both are doing pretty decent.

 

[BugI02]

Actually I have no eligibility. I refinanced all my parent plus loans privately and will pay them off in full well into my retirement. . They are not subject to federal discharge.

My point is the same. The poor don’t pay tax now and won’t be burdened with any responsibility for government spending in the future.

Not sure what you mean about the high effective rate, but not really relevant. People should always be responsible for their own obligations and debts. But I will never feel an ounce of guilt when the opportunity presents itself for me to legally keep my own wealth from government confiscation or when those same idiots choose to include me in their “handouts”.

You '... pay multiples of $10k federal tax each year' but you don't understand what an effective rate of taxation is?

 

[HoughMade]

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.

I wouldn't blame anyone for taking the $10k if it happens, but I'll continue to push against loan "forgiveness".

Seems to me like "means testing" would just result in those who did the least with the opportunity to go to college getting the largest benefit. Same old welfare system. Make something of yourself and be saddled with the expense of those who refuse to.

BTW, I'm through using, or acknowledging, the term "less fortunate". That implies that economic status is based solely on luck. By and large, it's not.

 

[Knight Rider]

You '... pay multiples of $10k federal tax each year' but you don't understand what an effective rate of taxation is?

I can make my way around the tables just fine. I just didn’t see what it had to do with the topic. No worries and no animus.

 

[GodFearinGunTotin]

 

[Leadeye]

Joe always will have the relationship with his buddies in the credit card companies too consider. Getting lenders to take hair cuts on debt can get too fashionable and the woke might demand it on their credit cards.

 

[Shadow01]

Still haven’t seen any colleges step up and have the administrators or professors give back their salaries to apply to the student’s loans.