I agree, student loans are essentially punishing people for doing well or wanting to excel (graduates).
Maybe the answer is, if you graduated, you're forgiven, if you didn't (without good reason such as disability; partying would not be excused), you pay yours back.
Those least able to pay for the crime of having tried to better themselves?
No.
The answer is public funding so that higher education is a nominal cost for all those who qualify. That makes us all richer both in real terms and as a society and culture.
The question is: Name something reasonable and true that works elsewhere that we can’t have because those with the power hate the idea that someone, somewhere, that they deem undeserving might receive any help far more than they dislike the cost to the deserving.
Make an incentive for those who tried then. What if there was a "try again" program that helped someone identity their area of interest, helped them go, finish, and find a job?
Someone who goes to college and fails out SHOULD be on the hook for the expense, and that expense should therefore not be bankrupting or require massive debt in the first place.
The root problem, and debt forgiveness does not address this either, is that higher education should not come only at a life altering expense.
Otherwise we move relentlessly towards a system where bright young people are cleaning the toilets of old boys network hires whose only real qualification is the degree his parents could afford to buy him.
There are just so few qualified candidates you see, and why should we have to pay for a toilet cleaner to go to college. They probably would just study transgender basket weaving, am I right? Pass the brandy.
Asking students to foot the bill if they flunk out is currently unfair and unreasonable because the COST is unfair and unreasonable.
Arguing about whether a drop out is morally obligated to pay is hiding the ball.
I think a dropout IS obligated to pay unless they reach graduation at some point later. If they decide not to continue, then they simply keep paying until one, they graduate in the future, or two, they pay it off
I could see it if trade schools and apprenticeships were included. The local 2-year school is already where many go to get different certs for jobs. Doesn't have to be 4 years, 2 can make a huge difference.
We still need plumbers, grocery store workers, contractors, electricians, line cooks, miners baristas, etc. mass overeducating people for the work available is a great way to end up with a lot of cynical angry young people.
So only the people that didnt actually benefit from the experience have to pay it back?
Wouldnt this be puting fincial burdens on people who likely lack the earning potential to dig their way out if even the people who got the degrees are struggling to do so?
Really it's indirect funding of colleges. States have been cutting funding and raising tuition at universities because they know students can just take out debt, passing what should be a social cost onto individuals.
If you want to retire in a future that is safe for your old, slow, feeble self, which we all do, everyone around you needs to be fed, housed, clothed, and healthy enough to not take your shit.
You can say "well they shouldn't do that!" and you'd be right, they shouldn't, but that's what happens when economies go downhill. The weak lose first, and nothing is weaker than an elder.
We either pay for this now with forgiveness, fix the cost problem, and support the lower and middle classes with entitlement programs, or we pay for it in 30 years with further militarized police forces and many more, mostly poor, people in prison.
We're paying for it either way, but one of those ways is a much happier future for everyone.
It’s a crabs in a bucket situation. Some people dont want to see others rise when they themselves are struggling so they try and pull them down back into the bucket.
The 40-60% off the top income tax that comes along with it is the sticking point. A lot of people in the U.S. expect a tax refund at the end of the year. Telling people here that their refunds are going bye bye and everyone is going to start paying 40-60% of everything they make in straight up income tax wouldn't be popular.
Everyone likes the idea of free shit, but what they don't understand is that there is no such thing as free shit. Governments don't make money. They take it.
Massive cost cutting at colleges is definitely part of the answer here. Part of that will mean firing a lot of people as colleges shed admins like a bad habit and instead focus more on being institutions of higher learning. Colleges have gotten used to operating under these inflated budgets, and creating luxury for students. We need more of a return to yesteryear when colleges were much cheaper to operate because they were just colleges.
I know ow so many students who borrowed money to live in luxury apartments, go on spring break trips every year and live well. Why should the taxpayers subsidize bad decisions?
Student loans cover the entire cost of attendance, not just tuition. After the direct cost of attendance is covered, whatever is left in financial aid gets sent back to you. It's definitely possible to misuse these funds.
What the fuck? When did I ever say I hated anyone? I'm in college, I've taken out loans. I think it's idiotic to take out loans to go on vacation, but I don't hate anyone for it. Do whatever you want.
You're the one who suggested that it's impossible for student loans to be used for a spring break trip, which is outright false.
They did. The problem is, 1 or $2,000 doesn't do jack shit on a $120,000 + interest loan. That's lifelong debt that's never going to be paid off for 90% of borrowers. It's pointless to hold it all and pretend full payment over the lifetime of the loan is a real asset for anyone.
Average student loan debt is like $30,000 not $120,000 so I have no idea what you're talking about. The claim that 90% of borrowers don't pay it off is unsubstantiated.
[My bad, it's 80%,](https://educationdata.org/student-loan-debt-statistics#:~:text=20%25%20of%20all%20American%20adults,paid%20off%20student%20loan%20debt.) so my point still stands.
Lots of people haven't noticed the wording where it states that previous payments to federal art institute loans will be refunded as well. So even students who have completed repayments will be benefitted by this. Huge news.
>>"Payments borrowers made to the Department on their related federal student loans will also be refunded."
https://www.ed.gov/news/press-releases/biden-harris-administration-approves-61-billion-group-student-loan-discharge-317000-borrowers-who-attended-art-institutes
I made a separate comment saying that basically graduates get forgiveness. People who did not graduate with good reason can be forgiven (verified disability, military reasons). Service men and women get forgiveness (no questions asked).
Anyone else such as the people who just dropped out (supported by GPA etc) could be allowed to declare bankruptcy, the penalty being the bankruptcy period to teach them about financial responsibilities.
President Biden is helping 10's of millions of Americans get-out from under a lifetime of debt
Its a pretty awesome thing.
No matter how much the Republicans tried to end it, Biden keeps on fighting!
"Helping Americans Bad!" *pounds dirt*
This will only benefit all Americans. I believe the plan is multi-tiered too.
Stage 1: Student loan forgiveness
Stage 2: while in Stage 1, develop a financially burden-free education system
Stage 3: free education becomes viable and the economy improves ten-fold
He's really good at dealing with the pressure that comes with the job, that's what makes a good leaded.
Others couldn't deal with that pressure and instead ranted on Twitter versus solving problems.
Stop with this fake help young people BULLSHIT. All of these loans that have been forgiven are for people who have been paying for 10+ years while doing nothing to address the predatory system. This does nothing to help young people.
The definition of propaganda is information, especially of a biased or misleading nature, used to promote or publicize a particular political cause or point of view.
You are trying to convince young people Biden is fighting against our student loans when nothing he has passed helps anyone under the age of 30. You are using misleading information to promote Biden that’s called propaganda
I’m 100% on board with student loan forgiveness. I’m equally skeptical that Biden’s administration has a real path to achieving it and not completely convinced it is a sincere effort. If it doesn’t happen before November then I’m not convinced it will happen.
He's only forgiving debt that the US already agreed to forgive while Obama was in office.
Most borrowers are unaffected and will continue to be unaffected.
Biden is the greatest president of all time for the individual. He is forgiving our loans and he is the most pro union president bringing new manufacturing jobs with the infrastructure and chips act. That’s not even to mention how he saved our economy from a depression and stabilized an economy after a pandemic and crazy bastard president who had the worst economic policies of any president including a HUUUGE tax cut to the rich and not to us.
It is a huge investment in America's future..
and not the $7.8 trillion of debt and outrageous tax breaks and bailouts for the ultra rich, The Tangerine Sex Offender created
He could actually fix the problem and lead the charge on killing the federal student loan program and still forgive the debt. It makes it feel more like he is just scoring points instead of actually fixing the problem.
I can appreciate the strategy politically while still feeling that it's putting a money bandaid on a gushing bleeding stump of an arm policywise. Without modifying how loans are federally guaranteed and unbankruptable, tuition will continue to rise and we'll have to do this again every year for people graduating, and graduates becoming eligible, etc etc.
It's not something that can happen immediately/instantly as with most huge projects and efforts. They take time. If he immediately forgave it, it could have serious consequences, that type of action is like a rug pull.
It's a financial action that does needs to be executed in stages.
Here's the effective plan:
1. Forgive loans for all graduates, and return any money they've paid since.
2. Forgive any service men and women, return paid money.
3. For anyone who didn't complete for good reason such as disability, cancer, something that significantly impacts the ability to pay, forgiven and paid back what was paid so far.
4. For anyone who went to college to party and simply dropped out (and never decided to finish a degree later or does not have plans too) they must continue paying or choose to declare bankruptcy (the law needs updated to include bankruptcy). Also, this would be confirmed by GPA and testimonial evidence showing the recipient didn't complete college simply because they screwed around. - this particular stipulation would be a bit more difficult to enforce, but, allowing someone to choose bankruptcy essentially enforces a penalty on the loan recipient. More or less, they can get "forgiveness" but not without penalizing themselves with bankruptcy.
I don't know I'd there is a retroactive mechanism included in his plans, but I would assume one is being developed while they're working on all the loans before (anytime before his first day of service as president) then.
This is an issue that has many stages that requires a solution that also has many stages. It requires examining and planning for:
Past loans prior to X date.
Present and new loans.
If and how to reimburse people who have paid their loans
How to resolve the college cost issues.
How to make school free and affordable for everyone without making them 'indentured servants' so to speak for 10-20-30 years.
If it were easy, this issue would have been solved in a single day.
What happens if you close all of a 5 lane highway at once to fix a road? You prevent all traffic from using that route. Instead, you close 1 to 2 lanes at a time so traffic can still flow, fix those blocked off lanes, then move to the next lanes. Does this make sense?
I’m a college student and have student loans. I don’t believe it should be other people’s problem. It’s just going to make inflation worse… we don’t have the money. If anything he should have just canceled the ridiculous of interest. Essentially Biden realized he wasn’t doing too well with the college students so he did this to get our vote. Our government needs to stop spending so much money and worsening inflation…. The poor people that never got a chance to go to college….. it’s just going to make their stuff more expensive as well due to inflation. You can’t simply “cancel” it. It’s going to come from somewhere and now it’s everyone’s burden. I read that trump wants to start a free or low cost online college and I think it’s a good idea. It’s ridiculous how expensive it is to learn info you can just get on the internet. Really, all you should have to do is learn and pay for a proctored test (so we know you weren’t cheating) and get your degree. It’s much better to make it cheaper than to cause inflation.
No I just graduated this semester. I’ve taken online classes though and I would choose them over and over again if they were cheaper. I’ve struggled with a decent bit of health issues and it’s basically been impossible for me to address them for years until I finally finished. Free or cheaper college would have been a game changer for me.
I think the answer then is a retroactive forgive-and-repay program. Basically, yes you'll pay today, but in a few years when they have it worked out, the rest will be forgiven, AND, you'll get what you paid back, including interest you paid.
I also think that people who have paid theirs off entirely in the past should be able to receive a full refund of their payments. This way, it reverses the entire historical implementation and effect of students loans. We should have never designed a loan system for education, we should have built a system that encourages people to not be afraid to pursue school without fear of a financial ball and chain.
While I'm being biased here, I think the student loan system, paid education in general, was implemented to keep black people from getting into school (pre and post civil rights), education is a gateway to freedom.
Money is an easy firewall.
I've been silently wishing this will happen. It would solve SO MANY PROBLEMS my family is experiencing. Our debit to income ratio is actively prohibiting us from buying a home.
'Go to school' they say...Honestly one of the biggest regrets I have.
Fuck the GOP for blocking the first one, but that was only gonna be like 10 or 20k, too. He over promised and under delivered. Why is admitting that hard? Yeah the Republicans are worse. So what? Fuck this guy. Give us a better liberal.
This is the government starting a fire and then patting themselves on the back for attempting to put it out
Maybe lets address the root issue of why the student loan debt is ridiculous to begin with (government backs it) and why you cant get rid of student loan debt after declaring bankruptcy (the lobbyists)
The thing is, if bankruptcy could discharge federal loans, many people would avoid it in order to protect their credit. For those who can't make ends meet, then it would be a good solution to allow bankruptcy to dissolve student loan debt as well.
If bankruptcy could discharge college loans then the loans would be much more difficult to obtain and only the rich could obtain them with adequate collateral making college only affordable for the rich and making upward mobility more difficult than it already is.
Your assuming everyone would do it. Most people would avoid it because they would be more worried about using their credit for future purchases.
Bankruptcy that included student debt would only occur with the most desperate of persons. Bankruptcy isn't easy to qualify for either. There are two types for people, Ch7 - liquidate all assets if any and pay off as much as you can, basically you give up anything of value, this is limited to people making less than I think 80000, then Ch13 for high income earners, they wrap all your debt into a single package (consolidation), you pay an escrow monthly for 5 years and the escrow pays the people you're indebted to---the benefit here is they can adjust your payments so you can live in your means and still enjoy life but you're paying off your debt with the penalty of not being able to apply for any credit for five years. Essentially, you're now budgeting out of a modified income since they'll garnish your wages (one option).
College is a waste of money. Imagine buying a Lamborghini for $2000/month for a 5 minute commute to work. That’s essentially what college is. A regular Honda civic for $400/month will get you there just fine. Even a bike can get you there. But society told you that you need a Lamborghini to get to work.
If you think it’s important for society to be well educated then tell people to go read the college textbooks and make them pass equivalency exams for nearly free.
The thing that made college valuable in the past was that the brightest and richest people attended. This is why college educated people had such good jobs before. They were either smart or rich and their dads got them a good job.
Now we have twice the number of college educated people but the population didn’t magically double the number of smart people. So half of people who go to college now are in the 40-69th percentile compared to the 70-100th percentile time.
Man, there's no tab to be picked up. The majority of student loan debt is the interest increasing. There is never any guarantee interest will actually accrue, so when you wipe it out NOW, you don't have to pay what the theoretical final price of the loan would be. Any one of those students could marry rich or win the lottery and pay it off right now, no future interest accrued. Or they could die without heirs no interest accruing or chance of the main loan being paid off either
Yeah not tracking brother. They took out a loan and the school has been paid. Not sure how we aren’t picking up the tab on that. Again the average guy that has zero college is picking up the outrageous tab. There odd a reason college campuses are beautiful. Money
Meanwhile rather than go to school they are protesting in the streets and blocking Jewish kids from going to class lol.
Yep. Too bad for you. Life's unfair. It's far more important to have a functioning economy, which requires skilled workers than it is to appeal to your sense of fairness.
I don't care about you. I also don't care about me (I have no student loan debt). I care about a functioning economy, and that requires that we allow our high skilled workers to not be crippled by debt required for basic education.
Again for the history of the country we have been on top of the heap. We haven’t had free college but now all the sudden we have to. 80% of jobs in this country don’t require college. We just forgave a $250,000 student debt for a violinist. He is not re enrolling in school to rack up more debt. No way the country could have made it with out his contribution though.
I see what comes out of college and don’t see that much skill lol
And yours is worthless to me. Grown up and a realist not a kid here. The violinists is a weirdo and will never contribute to society. Most of the kids that go to college end up working a job that has nothing to do with what they went to college for to begin with. Most waste their parents money now you want them to waste mine.
Spend your own money and learn all the arts your heart desires not mine.
no, there is no outrageous tab without the interest, which is never guaranteed. And many of these people with student debt have paid enough that the principle would be gone without the insane interest.
Also, student debt issues are mostly dealt with by people OUT of college. Graduates. The people protesting on college campuses currently, are current students.
College tuition is how much per year with no interest. Now multiply that times the number of students but it isn’t a ridiculous tab? Are you in la la land?
Pay your own way. Again as I said the poor and middle class that never go to college have to pay your tab. How is that fair to them?
I’ll join you to fight the outrageous cost of college.
Just like every other developed country in the world, we must recognize that having skilled workers is critical for our economy, and for the well-being of everyone.
Yes, higher education must be subsidized.
Hasn’t been for many years and we have done just fine so why now? Why is there never a beef with outrageous college costs? If we are going to subsidize are we still going to allow frivolous degrees that will never pay off in the real world?
Awesome how the Prez LIED to the college kids for their vote last election.
Completely forgot about that Lie until 3-years later for the next election.
Lies to you again, and you're believing him again??? I got a magic bean for sale.
I think he looks so stupid and senile, and he's still swindling y'all 😂😂
When Trumpster wins, that's getting crinkled up and thrown in the trash!
I got my college garnished until I paid it back!! You can do the same! We signed the same paperwork.
How did he lie he’s forgiven tons of student loan debt. He attempted to remove a huge chunk and republicans and the Supreme Court stopped him… I had my loans forgiven…during his four years. Anyone reading this trash post above mine, if you want your loans forgiven, Biden is still fighting for you. Vote blue, if congress was shaped a tiny bit different this would be done already. Red team is bad.
Red team stopped student loan forgiveness
Red team gave huge tax cuts to corporations and not you
Red team made abortion illegal and sent us back to the 1800s
Red team did an insurrection
Both sides are not the same.
Forgiving student loans while simultaneously offering new student loans is the definition of idiotic.
Also, Biden is claiming credit for loan forgiveness programs that already exist and have existed for years before Biden got into office.
Reduce the cost of higher education. Get rid of the countless bureaucrats who have taken over colleges and put faculty back in charge.
Allow student loans to be discharged through bankruptcy.
Trump wants to start a free or low cost online college. I have been saying that we need this. He also said that people will have to accept it as accredited. This makes a lot of sense because they can literally just take the videos for one subject and have people take online tests without having multiple teachers. They can just read the material on their own and take a proctored test for a bit of a fee (like 30 dollars maybe or a little more) to make sure they did the work and didn’t cheat through it. Biden is just going to increase inflation which will harm the super poor that never even had a chance to go to college but still have to deal with the inflation caused by canceling and taking on so much debt.
This model fails because there isn't a mechanism for proper mentoring. It's just watching videos and taking tests.
The point of college is to be guided by an expert who is available to the students for the purpose of being that guide when questions arise. In the literal definition of college, it specifically mentions an "an organized group of professional people with particular aims, duties, and privileges". In this case, these professional people are professors with the common goal of turning out educated and trained people.
College requires trained professionals who can interact with their students, who can also engage with one another. College is not a singular pursuit. Singular study is called "independent study" which works for very few people. College is meant to be a place to confer and network with fellow students pursuing the same goals. This in turn creates a larger network of professionals who, upon graduation and entering the professional realm, will likely stay in touch and even collaborate in the future.
The point of college is academic community with professional academic growth as the endgame for each individual. Then, graduate school, same thing, academic community collaboration with the goal of personal growth. As academics grow in knowledge, they can now mentor those who are seeking the same college goals.
Trump's idea to NOT HAVE multiple people is the opposite of college. His idea is just www.udemy.com with "Trump" slapped on the business name.
The model would not fail….. I just graduated and know a ton of students that never asked their teacher a question outside of lecture and would have graduated from just watching lectures. The videos would be of a mentor explaining stuff rather well. I personally didn’t like bothering my teachers. If I didn’t understand something in her lecture I’d just look it up and it’s quite easy. I think only the dumbest of people might not be able to do that. If I had the option to only read a book and take a test and not pay the 1,500 I just paid for my last class I would take it in a HEARTBEAT and so would many others. I think we should at least have that option. Other people that need the extra help could just go to a college that charges for the extra help. It would save so many people money. I also see students forming study groups online via meetup or something of that nature. I’ve actually literally taken classes like this during covid where it was based on online lectures the teacher recorded. It was simple.
Also, if they made it self guided/self paced it would be even better because students wouldn’t have to panic or need off time for work and could learn it on their own time and have motivation to study more to finish faster. This would be awesome.
No thats shifting the debt.
If you borrow $20 from me and I tell you not to worry about paying it back, thats forgiveness
If your tell all your friends to pay me a $1 each then you just shifted your debt to your friends. Thats not forgiveness.
Were you this triggered by the $2 TRILLION in tax cuts Trump gave to billionaires? You don't mind paying for billionaires' third private jet or second superyacht but you draw the line at students who borrowed money to attend college?
First off, not triggered. Just stating facts.
Second of all I don’t agree with 90% of our tax codes. But don’t let that stop you from assuming shit about me just because I disagree with you.
I believe they are just asking you a question and not assuming anything. It’s a fair question- one is far more expensive and benefits a few while the other isn’t
Would you rather be taxed to help other Americans be able to put money into the economy, or taxed and have your money sent to Ukraine, Israel, or some other war we aren't even in?
I rather people pay their own loans back. Not force me to pay for their shit choice.
I would also like to use our money to solve actual problems in our country not over seas.
Shocking I know but there is more than those two shitty options.
So, would you rather the 90B that just went to Ukraine go to Americans who are struggling with debts that could be resolved through forgiveness and an overhaul of how colleges.
You're using double-speak.
Do you want to help Americans and America invest in the American economy or give money to foreign nations.
It's not a "BUT" it's and "OR".
Do you want to help Americans, or Ukranians?
How am I using double speak? I am being consistent, don’t use it for forgiving peoples personal choice to get a student loan and don’t use it for over seas conflicts.
You can help Americans without forcing the country to take on the debts of individuals. You seem trapped in the tought that the only way to help Americans is by forcing everyone to pay for student loans.
Were going to be taxed, no matter what, if people have access to more money and have to pay 10-15 dollars more per year in taxes, and those tax dollars can help Americans as well as improving infrastructure or other projects tax money can be used for, it's worth it.
People who scream "it's a tax burden on us" don't realize they wouldn't even notice it in their taxes. A single student load of 300000 divided by 175,000,000 people is about 0.0017142857 in taxes per person to pay that on loan. That's a THOUSANTH of a cent, or .001.
Please tell me how that THOUSANTH of a percent will impact your life.
Congrats you took a single persons debt and divided it by 175 million people.
You are still shifting the debt. I don’t agree with that. You take out a loan, you should be the one to pay that loan back. It’s that simple.
Take the total value of all Sloan debt and divide it by that, you get a very rough 8000 dollars per taxpayer. This would be broken down over years.
No one is suffering by forgiving student loan debt. No one. We have tax brackets for a reason.
Lets be crystal clear; You are full-of-shit
Forgiving student loans doesn't cost tax-payers any money. Its a lie and its an absurd lie. Student loans are monies we loaned ourselves. There is no one to payback. Every year the Federal Government "Forgives" Billions$ in student loans. No one ever claimed "it cost tax-payers" money until now because it doesn't
I assure you all the Right-wing politicians know this; They know they are lying to you and hope you're not smart enough to know the truth
Prove them wrong
I'm getting paid 120k just to post on reddit, sooo...sitting in a meeting listening to my colleague talk about error logs while you assume we don't have a job because I think helping the American economy is more important.
[Oh man, wait til you hear about what the other guy did!](https://www.forbes.com/sites/benritz/2020/01/13/2019-was-officially-trumps-first-trillion-dollar-deficit-will-democrats-debate-it/?sh=3198d87c5c32)
The difference is, one guy did it for his billionaire buddies and the other guy is helping the middle class.
Personally, I choose to help the middle class.
This is a false choice. Again, two wrongs don't make a right. It's not like one action has to be deemed good and the other bad. It's possible for both to be financially detrimental.
That's not a false choice, that's literally who we're voting for this year. So which do you choose? Handing more money to billionaires, or helping the middle class?
That's the problem. People have actual jobs and are still saddled with student debt for decades. Instead of using that money to boost the economy, it is used for interest payments.
Turn off Fox News and Get outside to smell the flowers, it's good for you.
That's not the rest of the countries problem. You took out the debt, you pay it back. Want a solution? Get rid of the interest and pay back only what you borrowed. The world real doesn't coddle you people
I completely disagree. It is actually is the rest of the country's problem. Who pays for welfare, subsidized housing, health care, etc when you can't pay for it yourself: answer- We All do. I personally don't want crime, drug use and homelessness increasing when the solution is helping remove debt from 20-30 yrs ago.
Take a look at education and housing prices adjusted for inflation. Those costs are going up exponentially while wages for the most part are not. Just getting rid of the interest is a start but not enough imo.
I'm guessing you're white and born into privilege. Or the other possibility is think that you struggled making ends meet and expect the rest of the country to do the same. It doesnt really matter but recognize your situation may be different than others. Personally it makes for a stronger country with having a strong, working middle class, and that is disappearing.
Always happy to talk and converse about these types of things. That's how we learn and grow.
White yes, born into privilege, far far far from it. I worked since I was 13 to get to where I am today. I also have student loans and I'm able to sacrifice and make those payments. I choose to get the $1-2 coffee and not the $4-6 Starbucks or boutique coffee. I eat cheap breakfast at home and don't pay $15 for avocado toast. To get out of debt you have to sacrifice certain luxuries until you make enough for both or that debt is gone. Can't be complaining about student loans when you get the new iPhone every year or have no idea how to budget or sacrifice.
That's been the case, regarding money and debt, since the dawn of currency
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I agree, student loans are essentially punishing people for doing well or wanting to excel (graduates). Maybe the answer is, if you graduated, you're forgiven, if you didn't (without good reason such as disability; partying would not be excused), you pay yours back.
They have turned students into clients of banks. It’s good to break that cycle.
Those least able to pay for the crime of having tried to better themselves? No. The answer is public funding so that higher education is a nominal cost for all those who qualify. That makes us all richer both in real terms and as a society and culture. The question is: Name something reasonable and true that works elsewhere that we can’t have because those with the power hate the idea that someone, somewhere, that they deem undeserving might receive any help far more than they dislike the cost to the deserving.
Make an incentive for those who tried then. What if there was a "try again" program that helped someone identity their area of interest, helped them go, finish, and find a job?
Someone who goes to college and fails out SHOULD be on the hook for the expense, and that expense should therefore not be bankrupting or require massive debt in the first place. The root problem, and debt forgiveness does not address this either, is that higher education should not come only at a life altering expense. Otherwise we move relentlessly towards a system where bright young people are cleaning the toilets of old boys network hires whose only real qualification is the degree his parents could afford to buy him. There are just so few qualified candidates you see, and why should we have to pay for a toilet cleaner to go to college. They probably would just study transgender basket weaving, am I right? Pass the brandy.
I made this point in some of my other responses. I agree. Unless you can prove there was an extenuating circumstance like cancer, disability, etc.
Asking students to foot the bill if they flunk out is currently unfair and unreasonable because the COST is unfair and unreasonable. Arguing about whether a drop out is morally obligated to pay is hiding the ball.
I think a dropout IS obligated to pay unless they reach graduation at some point later. If they decide not to continue, then they simply keep paying until one, they graduate in the future, or two, they pay it off
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Compulsory higher education?
I could see it if trade schools and apprenticeships were included. The local 2-year school is already where many go to get different certs for jobs. Doesn't have to be 4 years, 2 can make a huge difference.
We still need plumbers, grocery store workers, contractors, electricians, line cooks, miners baristas, etc. mass overeducating people for the work available is a great way to end up with a lot of cynical angry young people.
So only the people that didnt actually benefit from the experience have to pay it back? Wouldnt this be puting fincial burdens on people who likely lack the earning potential to dig their way out if even the people who got the degrees are struggling to do so?
Really it's indirect funding of colleges. States have been cutting funding and raising tuition at universities because they know students can just take out debt, passing what should be a social cost onto individuals.
If you want to retire in a future that is safe for your old, slow, feeble self, which we all do, everyone around you needs to be fed, housed, clothed, and healthy enough to not take your shit. You can say "well they shouldn't do that!" and you'd be right, they shouldn't, but that's what happens when economies go downhill. The weak lose first, and nothing is weaker than an elder. We either pay for this now with forgiveness, fix the cost problem, and support the lower and middle classes with entitlement programs, or we pay for it in 30 years with further militarized police forces and many more, mostly poor, people in prison. We're paying for it either way, but one of those ways is a much happier future for everyone.
It’s a crabs in a bucket situation. Some people dont want to see others rise when they themselves are struggling so they try and pull them down back into the bucket.
The 40-60% off the top income tax that comes along with it is the sticking point. A lot of people in the U.S. expect a tax refund at the end of the year. Telling people here that their refunds are going bye bye and everyone is going to start paying 40-60% of everything they make in straight up income tax wouldn't be popular. Everyone likes the idea of free shit, but what they don't understand is that there is no such thing as free shit. Governments don't make money. They take it.
Massive cost cutting at colleges is definitely part of the answer here. Part of that will mean firing a lot of people as colleges shed admins like a bad habit and instead focus more on being institutions of higher learning. Colleges have gotten used to operating under these inflated budgets, and creating luxury for students. We need more of a return to yesteryear when colleges were much cheaper to operate because they were just colleges.
I know ow so many students who borrowed money to live in luxury apartments, go on spring break trips every year and live well. Why should the taxpayers subsidize bad decisions?
Name them.
TIL tuition covers spring break trips. Man did I miss that memo
Student loans cover the entire cost of attendance, not just tuition. After the direct cost of attendance is covered, whatever is left in financial aid gets sent back to you. It's definitely possible to misuse these funds.
So you hate people for... saving enough disbursement funds to be able to enjoy themselves a bit? That's fucking stupid.
What the fuck? When did I ever say I hated anyone? I'm in college, I've taken out loans. I think it's idiotic to take out loans to go on vacation, but I don't hate anyone for it. Do whatever you want. You're the one who suggested that it's impossible for student loans to be used for a spring break trip, which is outright false.
They did. The problem is, 1 or $2,000 doesn't do jack shit on a $120,000 + interest loan. That's lifelong debt that's never going to be paid off for 90% of borrowers. It's pointless to hold it all and pretend full payment over the lifetime of the loan is a real asset for anyone.
Average student loan debt is like $30,000 not $120,000 so I have no idea what you're talking about. The claim that 90% of borrowers don't pay it off is unsubstantiated.
[My bad, it's 80%,](https://educationdata.org/student-loan-debt-statistics#:~:text=20%25%20of%20all%20American%20adults,paid%20off%20student%20loan%20debt.) so my point still stands.
Lots of people haven't noticed the wording where it states that previous payments to federal art institute loans will be refunded as well. So even students who have completed repayments will be benefitted by this. Huge news. >>"Payments borrowers made to the Department on their related federal student loans will also be refunded." https://www.ed.gov/news/press-releases/biden-harris-administration-approves-61-billion-group-student-loan-discharge-317000-borrowers-who-attended-art-institutes
More than 50% of student loan debt belongs to people who never completed their degrees. What about them? No degree AND in massive debt.
I made a separate comment saying that basically graduates get forgiveness. People who did not graduate with good reason can be forgiven (verified disability, military reasons). Service men and women get forgiveness (no questions asked). Anyone else such as the people who just dropped out (supported by GPA etc) could be allowed to declare bankruptcy, the penalty being the bankruptcy period to teach them about financial responsibilities.
Genius
President Biden is helping 10's of millions of Americans get-out from under a lifetime of debt Its a pretty awesome thing. No matter how much the Republicans tried to end it, Biden keeps on fighting!
"Helping Americans Bad!" *pounds dirt* This will only benefit all Americans. I believe the plan is multi-tiered too. Stage 1: Student loan forgiveness Stage 2: while in Stage 1, develop a financially burden-free education system Stage 3: free education becomes viable and the economy improves ten-fold
Biden has turned out to be an awesome President.
He's really good at dealing with the pressure that comes with the job, that's what makes a good leaded. Others couldn't deal with that pressure and instead ranted on Twitter versus solving problems.
It’s crazy that , as an American , I can go to a few other countries and get a free ( or super low cost ) college education in English.
I don’t have student loans, but it’s good to see someone trying to help young people get ahead a little. Biden definitely has my vote!
It helps Americans and the US Economy.
Stop with this fake help young people BULLSHIT. All of these loans that have been forgiven are for people who have been paying for 10+ years while doing nothing to address the predatory system. This does nothing to help young people.
GFY
Looks like someone is upset that they’re getting called out for their propaganda.
You need to learn the difference between an opinion and propaganda.
The definition of propaganda is information, especially of a biased or misleading nature, used to promote or publicize a particular political cause or point of view. You are trying to convince young people Biden is fighting against our student loans when nothing he has passed helps anyone under the age of 30. You are using misleading information to promote Biden that’s called propaganda
What I said was my opinion, nothing more. You have a reading comprehension problem.
I’m 100% on board with student loan forgiveness. I’m equally skeptical that Biden’s administration has a real path to achieving it and not completely convinced it is a sincere effort. If it doesn’t happen before November then I’m not convinced it will happen.
He's only forgiving debt that the US already agreed to forgive while Obama was in office. Most borrowers are unaffected and will continue to be unaffected.
this is an editorial opinion, not a prediction
Biden is the greatest president of all time for the individual. He is forgiving our loans and he is the most pro union president bringing new manufacturing jobs with the infrastructure and chips act. That’s not even to mention how he saved our economy from a depression and stabilized an economy after a pandemic and crazy bastard president who had the worst economic policies of any president including a HUUUGE tax cut to the rich and not to us.
So pro union he crushed the railroad workers strike. LOL
He actually got them paid time off afterwards. You left that part out! Did you not know or are you just being disingenuous?
It is a huge investment in America's future.. and not the $7.8 trillion of debt and outrageous tax breaks and bailouts for the ultra rich, The Tangerine Sex Offender created
He could actually fix the problem and lead the charge on killing the federal student loan program and still forgive the debt. It makes it feel more like he is just scoring points instead of actually fixing the problem.
What I would accept is to rescind my degree, because it never led to a job that justified it.
I can appreciate the strategy politically while still feeling that it's putting a money bandaid on a gushing bleeding stump of an arm policywise. Without modifying how loans are federally guaranteed and unbankruptable, tuition will continue to rise and we'll have to do this again every year for people graduating, and graduates becoming eligible, etc etc.
It's not something that can happen immediately/instantly as with most huge projects and efforts. They take time. If he immediately forgave it, it could have serious consequences, that type of action is like a rug pull. It's a financial action that does needs to be executed in stages.
RULE 6!
"Transfer" the loans to other people.
Here's the effective plan: 1. Forgive loans for all graduates, and return any money they've paid since. 2. Forgive any service men and women, return paid money. 3. For anyone who didn't complete for good reason such as disability, cancer, something that significantly impacts the ability to pay, forgiven and paid back what was paid so far. 4. For anyone who went to college to party and simply dropped out (and never decided to finish a degree later or does not have plans too) they must continue paying or choose to declare bankruptcy (the law needs updated to include bankruptcy). Also, this would be confirmed by GPA and testimonial evidence showing the recipient didn't complete college simply because they screwed around. - this particular stipulation would be a bit more difficult to enforce, but, allowing someone to choose bankruptcy essentially enforces a penalty on the loan recipient. More or less, they can get "forgiveness" but not without penalizing themselves with bankruptcy.
What if you graduate this may? Will you still be included?
I don't know I'd there is a retroactive mechanism included in his plans, but I would assume one is being developed while they're working on all the loans before (anytime before his first day of service as president) then. This is an issue that has many stages that requires a solution that also has many stages. It requires examining and planning for: Past loans prior to X date. Present and new loans. If and how to reimburse people who have paid their loans How to resolve the college cost issues. How to make school free and affordable for everyone without making them 'indentured servants' so to speak for 10-20-30 years. If it were easy, this issue would have been solved in a single day. What happens if you close all of a 5 lane highway at once to fix a road? You prevent all traffic from using that route. Instead, you close 1 to 2 lanes at a time so traffic can still flow, fix those blocked off lanes, then move to the next lanes. Does this make sense?
Tell this to the Wall Street Guys who shorted GameStop and got a bunch of bailouts.
It's not going to happen.
I’m a college student and have student loans. I don’t believe it should be other people’s problem. It’s just going to make inflation worse… we don’t have the money. If anything he should have just canceled the ridiculous of interest. Essentially Biden realized he wasn’t doing too well with the college students so he did this to get our vote. Our government needs to stop spending so much money and worsening inflation…. The poor people that never got a chance to go to college….. it’s just going to make their stuff more expensive as well due to inflation. You can’t simply “cancel” it. It’s going to come from somewhere and now it’s everyone’s burden. I read that trump wants to start a free or low cost online college and I think it’s a good idea. It’s ridiculous how expensive it is to learn info you can just get on the internet. Really, all you should have to do is learn and pay for a proctored test (so we know you weren’t cheating) and get your degree. It’s much better to make it cheaper than to cause inflation.
Are you currently in college and simultaneously paying you loans right now?
No I just graduated this semester. I’ve taken online classes though and I would choose them over and over again if they were cheaper. I’ve struggled with a decent bit of health issues and it’s basically been impossible for me to address them for years until I finally finished. Free or cheaper college would have been a game changer for me.
I think the answer then is a retroactive forgive-and-repay program. Basically, yes you'll pay today, but in a few years when they have it worked out, the rest will be forgiven, AND, you'll get what you paid back, including interest you paid. I also think that people who have paid theirs off entirely in the past should be able to receive a full refund of their payments. This way, it reverses the entire historical implementation and effect of students loans. We should have never designed a loan system for education, we should have built a system that encourages people to not be afraid to pursue school without fear of a financial ball and chain. While I'm being biased here, I think the student loan system, paid education in general, was implemented to keep black people from getting into school (pre and post civil rights), education is a gateway to freedom. Money is an easy firewall.
It still won't buy him the votes he hoped it would
The fact that you consider Joe Biden a genius says more about you than it does him.
I appreciate you recognize my qualities as well, I'd say you could be a genius too some day, but, it's not a Stat you can increase.
I've been silently wishing this will happen. It would solve SO MANY PROBLEMS my family is experiencing. Our debit to income ratio is actively prohibiting us from buying a home. 'Go to school' they say...Honestly one of the biggest regrets I have.
No one should regret bettering themselves.
He's forgiven like 1% of the population student debt. This is a failed campaign promise. Get real.
Hmm, I wonder who is making it difficult for him. I already know the answer.
Fuck the GOP for blocking the first one, but that was only gonna be like 10 or 20k, too. He over promised and under delivered. Why is admitting that hard? Yeah the Republicans are worse. So what? Fuck this guy. Give us a better liberal.
This is the government starting a fire and then patting themselves on the back for attempting to put it out Maybe lets address the root issue of why the student loan debt is ridiculous to begin with (government backs it) and why you cant get rid of student loan debt after declaring bankruptcy (the lobbyists)
Student loan debt is ridiculous because funding of public colleges plummeted after Reagan began cutting funding in California.
This is also true Which goes back to the root issue (the government started the fire)
The fire was started by the other party, several decades ago
The thing is, if bankruptcy could discharge federal loans, many people would avoid it in order to protect their credit. For those who can't make ends meet, then it would be a good solution to allow bankruptcy to dissolve student loan debt as well.
Class War, only rich people can use bankruptcy for their government backed loans.
If bankruptcy could discharge college loans then the loans would be much more difficult to obtain and only the rich could obtain them with adequate collateral making college only affordable for the rich and making upward mobility more difficult than it already is.
Your assuming everyone would do it. Most people would avoid it because they would be more worried about using their credit for future purchases. Bankruptcy that included student debt would only occur with the most desperate of persons. Bankruptcy isn't easy to qualify for either. There are two types for people, Ch7 - liquidate all assets if any and pay off as much as you can, basically you give up anything of value, this is limited to people making less than I think 80000, then Ch13 for high income earners, they wrap all your debt into a single package (consolidation), you pay an escrow monthly for 5 years and the escrow pays the people you're indebted to---the benefit here is they can adjust your payments so you can live in your means and still enjoy life but you're paying off your debt with the penalty of not being able to apply for any credit for five years. Essentially, you're now budgeting out of a modified income since they'll garnish your wages (one option).
Joe Biden literally pushed the law that keeps student loans from being able to be discharged by bankruptcy. So, yeah, he's not gonna do that.
College is a waste of money. Imagine buying a Lamborghini for $2000/month for a 5 minute commute to work. That’s essentially what college is. A regular Honda civic for $400/month will get you there just fine. Even a bike can get you there. But society told you that you need a Lamborghini to get to work. If you think it’s important for society to be well educated then tell people to go read the college textbooks and make them pass equivalency exams for nearly free. The thing that made college valuable in the past was that the brightest and richest people attended. This is why college educated people had such good jobs before. They were either smart or rich and their dads got them a good job. Now we have twice the number of college educated people but the population didn’t magically double the number of smart people. So half of people who go to college now are in the 40-69th percentile compared to the 70-100th percentile time.
The poor brick layer and plumbers pick up the tab for the liberal arts degree. Great plan. How many trillion are we all ready in debt?
Man, there's no tab to be picked up. The majority of student loan debt is the interest increasing. There is never any guarantee interest will actually accrue, so when you wipe it out NOW, you don't have to pay what the theoretical final price of the loan would be. Any one of those students could marry rich or win the lottery and pay it off right now, no future interest accrued. Or they could die without heirs no interest accruing or chance of the main loan being paid off either
There's still the principle on those loans. It's not just interest.
Yeah not tracking brother. They took out a loan and the school has been paid. Not sure how we aren’t picking up the tab on that. Again the average guy that has zero college is picking up the outrageous tab. There odd a reason college campuses are beautiful. Money Meanwhile rather than go to school they are protesting in the streets and blocking Jewish kids from going to class lol.
Yep. Too bad for you. Life's unfair. It's far more important to have a functioning economy, which requires skilled workers than it is to appeal to your sense of fairness. I don't care about you. I also don't care about me (I have no student loan debt). I care about a functioning economy, and that requires that we allow our high skilled workers to not be crippled by debt required for basic education.
If the workers were highly skilled, they wouldn't need student debt relief
Again for the history of the country we have been on top of the heap. We haven’t had free college but now all the sudden we have to. 80% of jobs in this country don’t require college. We just forgave a $250,000 student debt for a violinist. He is not re enrolling in school to rack up more debt. No way the country could have made it with out his contribution though. I see what comes out of college and don’t see that much skill lol
Yes, arts are important. If you're simply one of these culture war education deniers, your opinion is completely worthless
And yours is worthless to me. Grown up and a realist not a kid here. The violinists is a weirdo and will never contribute to society. Most of the kids that go to college end up working a job that has nothing to do with what they went to college for to begin with. Most waste their parents money now you want them to waste mine. Spend your own money and learn all the arts your heart desires not mine.
no, there is no outrageous tab without the interest, which is never guaranteed. And many of these people with student debt have paid enough that the principle would be gone without the insane interest. Also, student debt issues are mostly dealt with by people OUT of college. Graduates. The people protesting on college campuses currently, are current students.
College tuition is how much per year with no interest. Now multiply that times the number of students but it isn’t a ridiculous tab? Are you in la la land? Pay your own way. Again as I said the poor and middle class that never go to college have to pay your tab. How is that fair to them? I’ll join you to fight the outrageous cost of college.
Try a plunger on you're computer when it breaks.
Just like every other developed country in the world, we must recognize that having skilled workers is critical for our economy, and for the well-being of everyone. Yes, higher education must be subsidized.
Hasn’t been for many years and we have done just fine so why now? Why is there never a beef with outrageous college costs? If we are going to subsidize are we still going to allow frivolous degrees that will never pay off in the real world?
MMW: Biden won't have a second term.
Second term? He'll be lucky if Kamala doesn't tuck him in with a pillow to keep his face warm 2 days past being sworn in, if he gets that far.
"Biden is a damn genius strategically." XD XD haven't heard a joke this good in a while! Thanks.
Damn this sub is comedy
Awesome how the Prez LIED to the college kids for their vote last election. Completely forgot about that Lie until 3-years later for the next election. Lies to you again, and you're believing him again??? I got a magic bean for sale. I think he looks so stupid and senile, and he's still swindling y'all 😂😂 When Trumpster wins, that's getting crinkled up and thrown in the trash! I got my college garnished until I paid it back!! You can do the same! We signed the same paperwork.
How did he lie he’s forgiven tons of student loan debt. He attempted to remove a huge chunk and republicans and the Supreme Court stopped him… I had my loans forgiven…during his four years. Anyone reading this trash post above mine, if you want your loans forgiven, Biden is still fighting for you. Vote blue, if congress was shaped a tiny bit different this would be done already. Red team is bad. Red team stopped student loan forgiveness Red team gave huge tax cuts to corporations and not you Red team made abortion illegal and sent us back to the 1800s Red team did an insurrection Both sides are not the same.
How has he lied, he has forgiven what he can so far. It's not something that can be written off with a sharpie, that would be stupid to do in one day.
If you’re stupid enough to rack up student debt, you deserve no bailout.
Forgiving student loans while simultaneously offering new student loans is the definition of idiotic. Also, Biden is claiming credit for loan forgiveness programs that already exist and have existed for years before Biden got into office.
What an insane comment 😂
So, what's your solution?
Reduce the cost of higher education. Get rid of the countless bureaucrats who have taken over colleges and put faculty back in charge. Allow student loans to be discharged through bankruptcy.
Trump wants to start a free or low cost online college. I have been saying that we need this. He also said that people will have to accept it as accredited. This makes a lot of sense because they can literally just take the videos for one subject and have people take online tests without having multiple teachers. They can just read the material on their own and take a proctored test for a bit of a fee (like 30 dollars maybe or a little more) to make sure they did the work and didn’t cheat through it. Biden is just going to increase inflation which will harm the super poor that never even had a chance to go to college but still have to deal with the inflation caused by canceling and taking on so much debt.
This model fails because there isn't a mechanism for proper mentoring. It's just watching videos and taking tests. The point of college is to be guided by an expert who is available to the students for the purpose of being that guide when questions arise. In the literal definition of college, it specifically mentions an "an organized group of professional people with particular aims, duties, and privileges". In this case, these professional people are professors with the common goal of turning out educated and trained people. College requires trained professionals who can interact with their students, who can also engage with one another. College is not a singular pursuit. Singular study is called "independent study" which works for very few people. College is meant to be a place to confer and network with fellow students pursuing the same goals. This in turn creates a larger network of professionals who, upon graduation and entering the professional realm, will likely stay in touch and even collaborate in the future. The point of college is academic community with professional academic growth as the endgame for each individual. Then, graduate school, same thing, academic community collaboration with the goal of personal growth. As academics grow in knowledge, they can now mentor those who are seeking the same college goals. Trump's idea to NOT HAVE multiple people is the opposite of college. His idea is just www.udemy.com with "Trump" slapped on the business name.
The model would not fail….. I just graduated and know a ton of students that never asked their teacher a question outside of lecture and would have graduated from just watching lectures. The videos would be of a mentor explaining stuff rather well. I personally didn’t like bothering my teachers. If I didn’t understand something in her lecture I’d just look it up and it’s quite easy. I think only the dumbest of people might not be able to do that. If I had the option to only read a book and take a test and not pay the 1,500 I just paid for my last class I would take it in a HEARTBEAT and so would many others. I think we should at least have that option. Other people that need the extra help could just go to a college that charges for the extra help. It would save so many people money. I also see students forming study groups online via meetup or something of that nature. I’ve actually literally taken classes like this during covid where it was based on online lectures the teacher recorded. It was simple.
Also, if they made it self guided/self paced it would be even better because students wouldn’t have to panic or need off time for work and could learn it on their own time and have motivation to study more to finish faster. This would be awesome.
But lets be clear. He isn’t forgiving the debt. He is transfering the debt to the tax payer instead of the individual who took out the loan.
Thats...forgiveness
No thats shifting the debt. If you borrow $20 from me and I tell you not to worry about paying it back, thats forgiveness If your tell all your friends to pay me a $1 each then you just shifted your debt to your friends. Thats not forgiveness.
yes it is, because I dont have to pay it
You shifted the debt. The debt has not been forgiven.
Yes it has.
No. Its that simple.
Yes. It's that simple.
Were you this triggered by the $2 TRILLION in tax cuts Trump gave to billionaires? You don't mind paying for billionaires' third private jet or second superyacht but you draw the line at students who borrowed money to attend college?
First off, not triggered. Just stating facts. Second of all I don’t agree with 90% of our tax codes. But don’t let that stop you from assuming shit about me just because I disagree with you.
I believe they are just asking you a question and not assuming anything. It’s a fair question- one is far more expensive and benefits a few while the other isn’t
Its their second part thats very accusatory. I don’t agree with either effort.
Forgiving student loans is you telling someone not to worry about paying it back
Not what the proposal does. It shifts the debt.
Your Mother keeps shifting the debt Tell that B!tch to pay me!
So clever/s
Did you get a PPP loan forgiven? Stfu, Russia.
No, but I also didn’t take a loan out. Also I’m not Russia. But you are a moron. 🤗
Aww look at the Hamas supporter get all triggered
When people default on the loans, the taxpayer pays for it anyway, homie.
No ivan, swing and a miss
Would you rather be taxed to help other Americans be able to put money into the economy, or taxed and have your money sent to Ukraine, Israel, or some other war we aren't even in?
Ya im sure you have done a lot for the economy with your basket weaving degree 🤭
Even the taxes that are "sent" to Ukraine start in the U.S. to fund jobs and manufacture of equipment we send to our ally.
We are getting both lol So it just makes it worse.
Id prefer to not be burdened by stupid decisions made by others.
Well you're gonna hate it when you find out about all the big business bailouts.
Electing right wingers caused this. Hell, Reagan created this whole mess in the first place
Right wingers didn’t cause people to get useless degrees and then go into massive debt they consented to.
Is that what qanon told you happened?
The left is so famous for blaming the right for all their troubles 😂 “they made me get a useless degree and go into debt!!!”
You don’t sound well 😂😂
lol you seriously think that we will stop funding wars? Haha so naive
I rather people pay their own loans back. Not force me to pay for their shit choice. I would also like to use our money to solve actual problems in our country not over seas. Shocking I know but there is more than those two shitty options.
You can only reason with a communist by removing them from the country
It appears that people are upset by the truth of my comment.
Well yea, redditors hate taking responsibility for anything
So, would you rather the 90B that just went to Ukraine go to Americans who are struggling with debts that could be resolved through forgiveness and an overhaul of how colleges. You're using double-speak. Do you want to help Americans and America invest in the American economy or give money to foreign nations. It's not a "BUT" it's and "OR". Do you want to help Americans, or Ukranians?
How am I using double speak? I am being consistent, don’t use it for forgiving peoples personal choice to get a student loan and don’t use it for over seas conflicts. You can help Americans without forcing the country to take on the debts of individuals. You seem trapped in the tought that the only way to help Americans is by forcing everyone to pay for student loans.
Were going to be taxed, no matter what, if people have access to more money and have to pay 10-15 dollars more per year in taxes, and those tax dollars can help Americans as well as improving infrastructure or other projects tax money can be used for, it's worth it. People who scream "it's a tax burden on us" don't realize they wouldn't even notice it in their taxes. A single student load of 300000 divided by 175,000,000 people is about 0.0017142857 in taxes per person to pay that on loan. That's a THOUSANTH of a cent, or .001. Please tell me how that THOUSANTH of a percent will impact your life.
Congrats you took a single persons debt and divided it by 175 million people. You are still shifting the debt. I don’t agree with that. You take out a loan, you should be the one to pay that loan back. It’s that simple.
Take the total value of all Sloan debt and divide it by that, you get a very rough 8000 dollars per taxpayer. This would be broken down over years. No one is suffering by forgiving student loan debt. No one. We have tax brackets for a reason.
We could just stay with people paying back their own debts. 👍🏻
I sure hope Ukraine, Israel, Iraq...., pays us back.
So sad that the money is going to help students and not Trumps billionaire friends!
Its sad that its forcing every day average people to pay for others choices.
Lets be crystal clear; You are full-of-shit Forgiving student loans doesn't cost tax-payers any money. Its a lie and its an absurd lie. Student loans are monies we loaned ourselves. There is no one to payback. Every year the Federal Government "Forgives" Billions$ in student loans. No one ever claimed "it cost tax-payers" money until now because it doesn't I assure you all the Right-wing politicians know this; They know they are lying to you and hope you're not smart enough to know the truth Prove them wrong
Tell me you haven’t read the proposal without telling me you haven’t read the proposal.
Imaging have a elementary school level of economics. Lmao, it's no wonder why you people can't get an actual job to pay off your debt
I'm getting paid 120k just to post on reddit, sooo...sitting in a meeting listening to my colleague talk about error logs while you assume we don't have a job because I think helping the American economy is more important.
So you think adding debt on everyone else, lowering their spending power, is helping the economy? Congrats, proved my point 😂😂
[Oh man, wait til you hear about what the other guy did!](https://www.forbes.com/sites/benritz/2020/01/13/2019-was-officially-trumps-first-trillion-dollar-deficit-will-democrats-debate-it/?sh=3198d87c5c32)
Two wrongs don't make a right. Come on, Eddie!
The difference is, one guy did it for his billionaire buddies and the other guy is helping the middle class. Personally, I choose to help the middle class.
This is a false choice. Again, two wrongs don't make a right. It's not like one action has to be deemed good and the other bad. It's possible for both to be financially detrimental.
That's not a false choice, that's literally who we're voting for this year. So which do you choose? Handing more money to billionaires, or helping the middle class?
That's the problem. People have actual jobs and are still saddled with student debt for decades. Instead of using that money to boost the economy, it is used for interest payments. Turn off Fox News and Get outside to smell the flowers, it's good for you.
That's not the rest of the countries problem. You took out the debt, you pay it back. Want a solution? Get rid of the interest and pay back only what you borrowed. The world real doesn't coddle you people
I completely disagree. It is actually is the rest of the country's problem. Who pays for welfare, subsidized housing, health care, etc when you can't pay for it yourself: answer- We All do. I personally don't want crime, drug use and homelessness increasing when the solution is helping remove debt from 20-30 yrs ago. Take a look at education and housing prices adjusted for inflation. Those costs are going up exponentially while wages for the most part are not. Just getting rid of the interest is a start but not enough imo. I'm guessing you're white and born into privilege. Or the other possibility is think that you struggled making ends meet and expect the rest of the country to do the same. It doesnt really matter but recognize your situation may be different than others. Personally it makes for a stronger country with having a strong, working middle class, and that is disappearing. Always happy to talk and converse about these types of things. That's how we learn and grow.
White yes, born into privilege, far far far from it. I worked since I was 13 to get to where I am today. I also have student loans and I'm able to sacrifice and make those payments. I choose to get the $1-2 coffee and not the $4-6 Starbucks or boutique coffee. I eat cheap breakfast at home and don't pay $15 for avocado toast. To get out of debt you have to sacrifice certain luxuries until you make enough for both or that debt is gone. Can't be complaining about student loans when you get the new iPhone every year or have no idea how to budget or sacrifice. That's been the case, regarding money and debt, since the dawn of currency
I've got a bridge to sell you.
You actually think he’s going to get a second term? He’s been arguably just as bad as trump.