Armed Polite Society

Please login or register.

Login with username, password and session length
Advanced search  

News:

R.I.P. Scout26

Pages: [1] 2

Author Topic: On That Student Loan Forgiveness  (Read 908 times)

Ben

  • Administrator
  • Senior Member
  • *****
  • Posts: 41,137
  • I'm an Extremist!
On That Student Loan Forgiveness
« on: May 19, 2022, 08:19:52 PM »

"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."

Jim147

  • friends
  • Senior Member
  • ***
  • Posts: 7,289
Re: On That Student Loan Forgiveness
« Reply #1 on: May 19, 2022, 09:44:22 PM »

I love when someone making high six figures and driving a Tesla want's my family to pay off their debt.

We paid ours off years ago.

I want someone to ask if this is a onetime vote buy or if this will be an every two year thing?
Sometimes we carry more weight then we owe.
And sometimes goes on and on and on.

BAH-WEEP-GRAAAGHNAH WHEEP NI-NI BONG

WLJ

  • friends
  • Senior Member
  • ***
  • Posts: 18,901
  • I am not a cat
Re: On That Student Loan Forgiveness
« Reply #2 on: May 19, 2022, 09:54:25 PM »

Quote
    NEW: As Biden weighs student loan forgiveness, disclosures show at least 30 of his top aides have student debt, totaling as much as $4.7 million https://t.co/t622cc19Uz

    — Bloomberg Politics (@bpolitics) May 19, 2022

$4,700,00 / 30 = $156,666 each
"Sometimes I think the surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us".
- Calvin and Hobbes

Perd Hapley

  • Radicalized since 1776
  • friend
  • Senior Member
  • ***
  • Posts: 59,475
  • beep/bop/boop
Re: On That Student Loan Forgiveness
« Reply #3 on: May 19, 2022, 10:02:32 PM »

$4,700,00 / 30 = $156,666 each

Boy, they sure make it easy to follow the money.
I do not own a boat. I still have all my guns, cuz this is America.

Bogie

  • friend
  • Senior Member
  • ***
  • Posts: 9,455
  • Hunkered in South St. Louis, right by Route 66
    • Third Rate Pundit
Re: On That Student Loan Forgiveness
« Reply #4 on: May 19, 2022, 11:21:07 PM »

And that sounds about like 4-6 years in the Ivy League...  The private schools near me are in the $50k/year range... And most of the kids are raving aholes.
Blog under construction

Lennyjoe

  • friend
  • Senior Member
  • ***
  • Posts: 2,612
Re: On That Student Loan Forgiveness
« Reply #5 on: May 20, 2022, 09:14:38 AM »

I don’t want them to pay it off.  We signed up for our student loans and are responsible to pay them back.  Not taxpayers dollars! 

Ben

  • Administrator
  • Senior Member
  • *****
  • Posts: 41,137
  • I'm an Extremist!
Re: On That Student Loan Forgiveness
« Reply #6 on: May 20, 2022, 09:18:32 AM »

$4,700,00 / 30 = $156,666 each

Apparently one of them has $500K in student debt. I would say, "What moron goes a half million dollars in to student loan debt?" except that their fiscal irresponsibility is likely going to be rewarded.
"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."

WLJ

  • friends
  • Senior Member
  • ***
  • Posts: 18,901
  • I am not a cat
Re: On That Student Loan Forgiveness
« Reply #7 on: May 20, 2022, 09:24:15 AM »

Apparently one of them has $500K in student debt. I would say, "What moron goes a half million dollars in to student loan debt?" except that their fiscal irresponsibility is likely going to be rewarded.

A degree in Transgender Feminism And it's Role In Fighting White Privilege in the Middle Ages isn't cheap.
"Sometimes I think the surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us".
- Calvin and Hobbes

zxcvbob

  • friend
  • Senior Member
  • ***
  • Posts: 11,492
Re: On That Student Loan Forgiveness
« Reply #8 on: November 11, 2022, 08:07:06 PM »

Is this the most recent thread on this topic?  (I think so)  Anyway, a federal judge in Texas has killed the whole thing.  I wonder if that was the plan all along?  This was just a ruse to buy people's votes and then renege on the deal right after the election.  Whoever thought of that (you know it wasn't Biden) is a criminal mastermind.
"It's good, though..."

Bogie

  • friend
  • Senior Member
  • ***
  • Posts: 9,455
  • Hunkered in South St. Louis, right by Route 66
    • Third Rate Pundit
Re: On That Student Loan Forgiveness
« Reply #9 on: November 12, 2022, 08:55:33 PM »

All those poor folks who were convicted on federal pot smoking laws too...
Blog under construction

Ron

  • friends
  • Senior Member
  • ***
  • Posts: 10,510
  • Like a tree planted by the rivers of water
    • What I believe ...
Re: On That Student Loan Forgiveness
« Reply #10 on: November 13, 2022, 08:37:24 AM »

The whole system is a fraudulent scam.

The loans shouldn't be paid off by taxpayers, they should be cancelled outright. The schools should be forced to eat the loss. Education costs ballooned as soon as this system was adopted. It is a ponzi scheme scam and the students have been defrauded by the schools and government.

Why do you want to perpetrate this horrible system of credentialism and debt slavery?

Let it burn down.

For the wrath of God is revealed from heaven against all ungodliness and unrighteousness of men, who hold the truth in unrighteousness;

Because that which may be known of God is manifest in them; for God hath shewed it unto them.

For the invisible things of him from the creation of the world are clearly seen, being understood by the things that are made, even his eternal power and Godhead

cordex

  • Administrator
  • Senior Member
  • *****
  • Posts: 7,218
Re: On That Student Loan Forgiveness
« Reply #11 on: November 13, 2022, 09:13:25 AM »

The loans shouldn't be paid off by taxpayers, they should be cancelled outright. The schools should be forced to eat the loss. Education costs ballooned as soon as this system was adopted. It is a ponzi scheme scam and the students have been defrauded by the schools and government.
The schools have already been paid. Canceling the loans is the same as taxpayers footing the bills.

I have no love for either the corrupt higher education system or the corrupt government which conspires with it, but you are making a mistake in failing to attribute any responsibility to the people who willingly chose to take on massive, unsecured debt.

Ron

  • friends
  • Senior Member
  • ***
  • Posts: 10,510
  • Like a tree planted by the rivers of water
    • What I believe ...
Re: On That Student Loan Forgiveness
« Reply #12 on: November 13, 2022, 09:26:31 AM »

The schools have already been paid. Canceling the loans is the same as taxpayers footing the bills.

I have no love for either the corrupt higher education system or the corrupt government which conspires with it, but you are making a mistake in failing to attribute any responsibility to the people who willingly chose to take on massive, unsecured debt.

The whole current economy is based upon a foundation of unsecured debt.
For the wrath of God is revealed from heaven against all ungodliness and unrighteousness of men, who hold the truth in unrighteousness;

Because that which may be known of God is manifest in them; for God hath shewed it unto them.

For the invisible things of him from the creation of the world are clearly seen, being understood by the things that are made, even his eternal power and Godhead

dogmush

  • friend
  • Senior Member
  • ***
  • Posts: 11,617
Re: On That Student Loan Forgiveness
« Reply #13 on: November 13, 2022, 10:15:57 AM »

Update the system: Cap federal student loan interest rates at the bare minimum to pay for administering the program.  .gov should not be making money on this program. If a student hasn't paid off a federal student loan in 10 years from graduation day, (or day the loan goes into repayment status), the loan becomes eligible for discharge through bankruptcy.

Any loan that is so discharged, will be paid back to the taxpayers in full from the schools endowment, or if they run out from the school's budget.  School must agree to these terms for their students to be eligible for student loans.

This would so a couple things. It would incentivize making sure the money a degree makes and what it costs are similar. Students would be better off paying off their loans, but if they really get in over their heads on a feminist basket weaving degree, they can eventually get out from under those loans. And schools would be incentivized to make sure their students make enough money to pay off their education in a reasonable time.

.Gov's goal of making loans easy to get for poorer Americans is also met, without taxpayers holding the bag.

If a school wants to charge $500,000 for an unmarketable degree, they still can. They just can't use federal loan dollars to finance it. I'm sure some prestigious,  private schools will do that.

cordex

  • Administrator
  • Senior Member
  • *****
  • Posts: 7,218
Re: On That Student Loan Forgiveness
« Reply #14 on: November 13, 2022, 11:00:36 AM »

The whole current economy is based upon a foundation of unsecured debt.
And?  Abuse of that is something you want to reward?

sumpnz

  • friend
  • Senior Member
  • ***
  • Posts: 7,289
Re: On That Student Loan Forgiveness
« Reply #15 on: November 13, 2022, 11:45:42 AM »

How’s about rather than reforming how the .gov administers student loans they just stop making the loans.  Leave it up to banks and their underwriters.  Regulation to prevent racial or political discrimination should be the limit of government involvement.

dogmush

  • friend
  • Senior Member
  • ***
  • Posts: 11,617
Re: On That Student Loan Forgiveness
« Reply #16 on: November 13, 2022, 01:04:04 PM »

How’s about rather than reforming how the .gov administers student loans they just stop making the loans.  Leave it up to banks and their underwriters.  Regulation to prevent racial or political discrimination should be the limit of government involvement.

In theory,  but the federal student loans system exists because banks and underwriters weren't making those loans.

Perd Hapley

  • Radicalized since 1776
  • friend
  • Senior Member
  • ***
  • Posts: 59,475
  • beep/bop/boop
Re: On That Student Loan Forgiveness
« Reply #17 on: November 13, 2022, 01:15:20 PM »

In theory,  but the federal student loans system exists because banks and underwriters weren't making those loans.

In other words, private enterprise declined to create the kind of crushing debt that's ruining everybody's lives. It took government to do that.
I do not own a boat. I still have all my guns, cuz this is America.

sumpnz

  • friend
  • Senior Member
  • ***
  • Posts: 7,289
Re: On That Student Loan Forgiveness
« Reply #18 on: November 13, 2022, 01:28:57 PM »

In theory,  but the federal student loans system exists because banks and underwriters weren't making those loans.

I’m not seeing the problem.

I mean seriously.  The massive inflation in college tuition is directly due to the easy credit extended to students.  Many of whom, frankly, shouldn’t have ever gone to college.  Whether because their career field shouldn’t require a degree, or because they don’t have the academic chops for what college should be doesn’t matter.  Before Uncle Sugar got involved college (at least at state schools) could be paid for by a single income family with maybe a part time job for the kid and a small scholarship or two.  Bit more for a good private school but even middle-upper incomes could hack it for their kids.  And in those days maybe 20% of kids went to college at all.  Less than 1% of the population got a PhD.  And if you had such credentials it really was a passport to high paying jobs and middle-upper or better income.

Now?  A bachelors has basically replaced the high school diploma in terms of ability to get a decent paying job and in terms of actual education for that matter.  And the costs are crippling each generation worse than the one before.

Yeah, doing this would require returning primary and secondary education to the quality of the early 20th century. 

dogmush

  • friend
  • Senior Member
  • ***
  • Posts: 11,617
Re: On That Student Loan Forgiveness
« Reply #19 on: November 13, 2022, 03:32:52 PM »

Ok.  What's your plan for lowering college costs, convincing employers they don't actually want a 4 year degree for entry level, and raising the quality of primary and secondary education in US public schools?

I don't disagree with anything you've stated, but we need to start lowering the cost of postsecondary education, without saddling US taxpayers with the cost.  Making schools have a financial stake in the employability of their  students is a way that *might* actually get through the swamp and DOE. I don't see trying to convince 80% of America their special snowflake ain't smart enough for college as having even that small chance.

Pb

  • friend
  • Senior Member
  • ***
  • Posts: 3,872
Re: On That Student Loan Forgiveness
« Reply #20 on: November 13, 2022, 09:29:56 PM »

Ok.  What's your plan for lowering college costs, convincing employers they don't actually want a 4 year degree for entry level, and raising the quality of primary and secondary education in US public schools?

My plan for lowering college costs:

Eliminate all federal government involvement in college, especially subsidizing purchase of college tuition and free money for grants.  Millions of substandard students will be unable to pay for college.  They will quit college or be unable to start.  Colleges are full of people that would be more use to society digging ditches than learning to hate white people.

The crappiest, most money wasting colleges will go out of business and stop pissing away taxpayer money.  Good riddance.

Those that survive will have to cut their obscene levels of worthless administrators and other garbage employees.  Tuition will fall like a rock over a cliff, since students will actually have to pay the tuition themselves.  Colleges will have to stop building luxury buildings and pissing away money on worthless programs.  They can just teach people classes that will enable them to get a paying job.

Before the government intervened to help people "afford" college, my parents paid all their tuition by working part time for minimum wage, and graduated with zero debt.  Subsidizing the purchase of things makes their prices rise, imagine that.



charby

  • Necromancer
  • Administrator
  • Senior Member
  • *****
  • Posts: 28,502
  • APS's Resident Sikh/Muslim
Re: On That Student Loan Forgiveness
« Reply #21 on: November 14, 2022, 11:11:28 AM »

Some of the problem lies with the 3rd party student loan servicers that the feds have contracted. Mostly not following the letter of the law and placing lenders into forbearance or deferment (letting interest build up). The third party servicers not keeping track of payments to be applied towards the 20/25 year forgiveness or 10 years of public service. Both of those items were put into law by congress so don't blame JB.

I'm guess that is why a bunch of 3rd party servicers didn't renew their contracts when things started changing to student loans due to Covid under Trump and Biden.
Iowa- 88% more livable that the rest of the US

Uranus is a gas giant.

Team 444: Member# 536

JN01

  • friend
  • Senior Member
  • ***
  • Posts: 793
Re: On That Student Loan Forgiveness
« Reply #22 on: November 14, 2022, 03:11:20 PM »

In other words, private enterprise declined to create the kind of crushing debt that's ruining everybody's lives. It took government to do that.

It is what they do best.

Hawkmoon

  • friend
  • Senior Member
  • ***
  • Posts: 25,675
Re: On That Student Loan Forgiveness
« Reply #23 on: November 14, 2022, 09:47:55 PM »

I'll just drop this here:

https://www.forbes.com/sites/alisondurkee/2022/11/14/bidens-student-loan-forgiveness-plan-kept-on-hold-as-court-sides-with-gop-states/?sh=4e2ebded2d4e

The Biden student loan forgiveness plan isn't gaining a lot of traction in federal courts.

Angel Eyes

  • Lying dog-faced pony soldier
  • friend
  • Senior Member
  • ***
  • Posts: 11,226
  • You're not diggin'
Re: On That Student Loan Forgiveness
« Reply #24 on: November 15, 2022, 12:47:09 PM »


The Biden student loan forgiveness plan isn't gaining a lot of traction in federal courts.

That doesn't really matter.  This was about buying votes for the midterms, and it apparently succeeded.
"Spare me the bulls*** about constitutional rights."
      - Congressman David N. Cicilline (D-RI)
Pages: [1] 2