$300 Billion in student loan "forgiven".... how generous

[DarnYankeeUSMC]

Explain this. I am not sure of what you are saying

That's complete bullshit and 10k doesn't come close to paying off a lot of our debts.

 

[Hobo Hilton]

If the gov axtuslly have a


How’d it turn out for Caesar?

Julius Caesar, the Roman dictator, was assassinated by a group of senators on the Ides of March (15 March) of 44 BC during a meeting of the Senate at the Curia of Pompey of the Theatre of Pompey in Rome where the senators stabbed Caesar 23 times. They claimed to be acting over fears that Caesar's unprecedented concentration of power during his dictatorship was undermining the Roman Republic, and presented the deed as an act of tyrannicide.

 

[candyx]

Basically the gov




If the gov actually wanted to fix the problem, which is funny as gov is often THE PROBLEM, they’d get the fuck out do the education industry and allow people who got suckered into a expensive go no where degree to bankrupt out of it, just like if you financed a expensive lemon car, or a house that wasn’t worth nearly what you paid

That would fix this shit right quick

I could never figure out why we allow a communist to serve in our government, I called Putin today directly to see if he would allow me to sit on the Federal Council. He told me he's to busy bombing the shit out of Ukraine but call him back in 6 months to discuss it, he seemed sincere.

 

[The D]

Elizabeth Warren in response to people that didn't accrue the debt paying off the debt of others:

“Look, I’m not at all surprised that Mitch McConnell is attacking this. And the reason he’s attacking it is because it is very, very popular, popular among Democrats, Independents, Republicans, popular. And you know why? Because I don’t think there’s anybody left in America who doesn’t know somebody who isn’t struggling with student loan debt. This has become a part of our country now, people for whom their only sin was to want to try to get an education and not be in a family that could afford to write a check for it. And what we’re saying is, as a nation, we can do better than that. We can invest in our people. We can help our people. And ultimately, what the data show us is that because of student loan debt, there are many people who don’t move out of their mama’s basement, who can’t save up money to buy a home, who don’t start small businesses, who don’t start a family. You relieve the debt burden some for those people, and we have more economic activity. In other words, canceling student loan debt is good for the people whose debt is canceled. But it is also good for our economy and the rest of America.”

Hey Pocahontas, fuck off

 

[kriller134]

 

[candyx]

What about those of us who were actually lied to about our earning potential? Who should pay in a situation where we've been literally defrauded?

"There's a sucker born every minute" P.T. Barnum

 

[AngryKoala]

Explain this. I am not sure of what you are saying

Re-read,

I thought you said the individuals possibly getting the 10k reduction hadn't been paying on their loans (Me being one of those individuals who has been paying for quite some time). I think I misinterpreted what you were saying.

 

[TurboTrout]

That's complete bullshit and 10k doesn't come close to paying off a lot of our debts.

I have zero debt

Most debt I’ve had was a couple auto loans where the car was worth more than I financed

 

[SONIC SAAMI]

Re-read,

I thought you said the individuals possibly getting the 10k reduction hadn't been paying on their loans (Me being one of those individuals who has been paying for quite some time). I think I misinterpreted what you were saying.

Sign on the line do the time.

 

[TurboTrout]

Sign on the line do the time.

Meh, kinda

When it’s a scam, like a 100k art degree, I’m cool with people walking away/BK from the debt and letting whatever dumb ass bank thought that was a good ROI, or were more likely part of the scam, eat it

The only reason they get away with these scams on teens is because the gov backs the loans, otherwise arts degrees wouldn’t exist beyond 5-10k for a masters, as that’s all it’s really worth…if that


Main Street to .gov “go home, you’re drunk”

 

[SONIC SAAMI]

Meh, kinda

When it’s a scam, like a 100k art degree, I’m cool with people walking away/BK from the debt and letting whatever dumb ass bank thought that was a good ROI, or were more likely part of the scam, eat it

The only reason they get away with these scams on teens is because the gov backs the loans, otherwise arts degrees wouldn’t exist beyond 5-10k for a masters, as that’s all it’s really worth…if that


Main Street to .gov “go home, you’re drunk”

Absolutely right here take all of my money

 

[pineoak]

I wonder what/who's other debt I am co-signed onto that I didn't agree to and don't know about...

but have to pay for through higher taxes.

 

[AngryKoala]

Sign on the line do the time.

And I'm doing just that.

 

[lariat]

I wonder what/who's other debt I am co-signed onto that I didn't agree to and don't know about...

but have to pay for through higher taxes.

You are co-signed onto every bond that is issued by the USG - we all are. That means you are undewriting every project that passes through congress and via executive order. Remember bonds are promissory notes to pay back a loan with US dollars, but those dollars come from the work of the citizenry (taxes). This means that the USG has issued your future work as the backing of the promissory note. Full faith and credit of the US is really only the work and sweat of the people since the dollar isnt backed by anything any longer.

Think long and hard on this. If you think that you haven't been sold on the open market, you are terribly wrong. Just about the only people who have NOT here in the US are the illegals since they effectively live outside of the system, but even that can be argued. All governments sell the future labor of their people as backing of the bonds they issue. It really cant be any other way. The horror of it is that they have already sold the labor of those who have not been born yet (30 year bonds).

 

[SalomonQST99]

Biden is buying votes. It's controversial because he should run pretty much unopposed.

 

[SONIC SAAMI]

And I'm doing just that.

Could you please do the private sector taxpayer a favor and speed up your payments.

 

[Fig]

Nope, the program I'm on is tax-exempt and was passed by a bipartisan majority of Congress and signed into law by George W. Bush.

All loans are forgiven after 25 years no matter what, and that comes with a giant tax bomb. Were that to happen to me, given my balance, I would have to declare bankruptcy because it would result in a six figure tax bill that was due immediately.

If people actually understood the real situation and not just their simplistic understanding (like your assumption that the forgiveness would be taxable, which is contrary to law), I think people would look at this differently, but people refuse to think critically about this because they only focus on their own experience and not the entire reality of what is going on in the student loan system.

We are going to have an even more extreme crisis in 20 years if we don't fix this, just like we currently have with immigration after the 1986 amnesty.

That is an excellent example that disproves your point and proves what everyone else is saying. Give amnesty to legal immigrants and you’re gonna get way more illegal immigrants. Forgive the student debts of people who borrowed way more than they can possibly pay back and you’re gonna get way more student debt. QED

 

[xsn10s]

The gift that keeps on giving. 300 billion..........the FIRST year.

 

[Redmanss]

Too bad my ultra-lib daughter is just now starting college and won't get anything from this. I'm still not paying so much as a wooden nickel for her college.

I might change my mind if she sends me a picture of her 2024 ballot with Trump filled in.

Nah... Treat libs, family or otherwise, exactly how they deserve to be treated.

 

[Fig]

I never said anything about a Keynesian multiplier and I am not making argument. That government spending increases output is true by the definition of how output is measured. It isn't an argument, it's literally a mathematical identity referred to in economics as the national accounting identity. 100 out of 100 economists agree about this. It isn't a matter that anyone with any understanding of economics believes is in dispute, because like I said, that Y=C+I+G+NX is an identity. It's as true as 1=1.

Inflation is monetary. It has NOTHING to do with fiscal policy, now or ever. Inflation is always and everywhere a monetary phenomenon. Those who say otherwise are idiots who don't know what they're talking about.

Paul Volker must be some kind of wizard/demigod. Look at what the Federal Reserve Bank’s original mission was…

 

[AngryKoala]

Could you please do the private sector taxpayer a favor and speed up your payments.

If it were financially feasible I would. Hey if you want to throw me 60k I'll pay them off tomorrow. Until then, I can only pay what I can while still paying for inflated gas, groceries etc....having kids doesn't help either.

Also, I work in the private sector as well soooo I've paid more in taxes than I'll ever get back for my loans.

Isn't this all hypothetical anyway? Have they actually done anything other than say they are going to do something?

 

[SONIC SAAMI]

If it were financially feasible I would. Hey if you want to throw me 60k I'll pay them off tomorrow. Until then, I can only pay what I can while still paying for inflated gas, groceries etc....having kids doesn't help either.

Also, I work in the private sector as well soooo I've paid more in taxes than I'll ever get back for my loans.

Isn't this all hypothetical anyway? Have they actually done anything other than say they are going to do something?

You could always shut off your Internet service and sell your computer and use that money to pay your loan

 

[AngryKoala]

You could always shut off your Internet service and sell your computer and use that money to pay your loan

No thanks. I use the internet and computer for work....and porn.

 

[ggmanning]

Paid mine off in 10 years. Now I am supposed to pay somebody else's off? Fuck that.

 

[SONIC SAAMI]

No thanks. I use the internet and computer for work....and porn.

You see you just outed of yourself you could pay your loan off but you refused.

 

[Mike Islander]

Where do I apply for my refund of the loans I worked so hard to pay off?

 

[SONIC SAAMI]

Paid mine off in 10 years. Now I am supposed to pay somebody else's off? Fuck that.

That's the way it works you're being punished

 

[SONIC SAAMI]

Where do I apply for my refund of the loans I worked so hard to pay off?

Apparently you're being told to F off and work harder to pay off other peoples loans

 

[Downzero]

Paul Volker must be some kind of wizard/demigod. Look at what the Federal Reserve Bank’s original mission was…

Volker did have some serious balls to massively tighten monetary policy to cripple the inflation that existed at the time. Imagine how much better off we would be if that happened now.

 

[AngryKoala]

You see you're just out of yourself you could pay your loan off but you refused to.

Yep, I refuse to turn off the service that allows me to keep my job.

 

[Downzero]

Yep, I refuse to turn off the service that allows me to keep my job.

Honestly, $60k is nothing. You'll pay that eventually. $60k isn't even a new pickup truck. If mine was that or even double that, I'd just pay it. It's more like 4x that, which for my income level, I can never pay.

 

[loboman7x57]

Joe Biden expected to announce $10,000 student loan forgiveness program Wednesday: report

President Biden's expected announcement to forgive $10,000 in student loans will cost American taxpayers around $300 billion, according to some estimates.

www.foxnews.com

What a crock of shit. I used my savings from the 4H steers I showed and sold at the county fair, a small inheritance from an elderly aunt, and worked a full time and 2 part time jobs to pay for my own college. I attended college full time also. It was a lot cheaper in the early 80's but that still doesn't justify this bull shit.

 

[AngryKoala]

Honestly, $60k is nothing. You'll pay that eventually. $60k isn't even a new pickup truck. If mine was that or even double that, I'd just pay it. It's more like 4x that, which for my income level, I can never pay.

I am paying it and eventually it will be paid off. I've already paid off like 30k in the last three years. I've been trying to take advantage of this pay freeze to make larger payments while not getting pounded by interest.

 

[SONIC SAAMI]

Yep, I refuse to turn off the service that allows me to keep my job.

Maybe you need to find yourself a second job

 

[pineoak]

I am paying it and eventually it will be paid off. I've already paid off like 30k in the last three years. I've been trying to take advantage of this pay freeze to make larger payments while not getting pounded by interest.

$10k this round

$20k in 2023

$25k in 2025

$55k just by being patient!

 

[DarnYankeeUSMC]

So there are unicorns.

Re-read,

I thought you said the individuals possibly getting the 10k reduction hadn't been paying on their loans (Me being one of those individuals who has been paying for quite some time). I think I misinterpreted what you were saying.

If you want to pick nits good for you. But a vast majority of the people who have fallen under the program are taking advantage of it.
If you bought a pig in a poke that's your problem. I bet there's thousands of military people that would like to get their money back from the used car lots outside of every military base.
If your education is getting you what you thought. Good for you.
I have said it before. If I was a bank and doing student loans. Those applying would have to take an aptitude test. If you don't test well enough to be an engineer. You are not getting a loan.

 

[DarnYankeeUSMC]

Bwaaaahahaha. Sucker!!

Honestly, $60k is nothing. You'll pay that eventually. $60k isn't even a new pickup truck. If mine was that or even double that, I'd just pay it. It's more like 4x that, which for my income level, I can never pay.

What the fuck did you go to school for? Over $240K for what field of work?
You should get into politics. A bartender that couldn't pay her bills is now worth millions.

 

[AngryKoala]

So there are unicorns.

If you want to pick nits good for you. But a vast majority of the people who have fallen under the program are taking advantage of it.
If you bought a pig in a poke that's your problem. I bet there's thousands of military people that would like to get their money back from the used car lots outside of every military base.
If your education is getting you what you thought. Good for you.
I have said it before. If I was a bank and doing student loans. Those applying would have to take an aptitude test. If you don't test well enough to be an engineer. You are not getting a loan.

You're not wrong but is that any different than any other program such as welfare? People game the system and we pay for it.

 

[babyguppy]

So there are unicorns.

If you want to pick nits good for you. But a vast majority of the people who have fallen under the program are taking advantage of it.
If you bought a pig in a poke that's your problem. I bet there's thousands of military people that would like to get their money back from the used car lots outside of every military base.
If your education is getting you what you thought. Good for you.
I have said it before. If I was a bank and doing student loans. Those applying would have to take an aptitude test. If you don't test well enough to be an engineer. You are not getting a loan.

I just want Destiny to give me my money back. Turns out, there's NO sex in the Champagne room.

 

[AngryKoala]

$10k this round

$20k in 2023

$25k in 2025

$55k just by being patient!

I'll still be making payments. It's basically like a car loan or mortgage payment at this point. The money leaves the account every month...got use to it.

 

[Lone Star]

$300 billion for "educating" kids who were taught revised history, gender confusion, socialist ideals, nothing that is usefull to to their future jobs. That is those who actually get a job. Many have no intention of working because then they would have to start paying their student loan debt. Back when I was in school I was actually taught that it was dishonest to lie, steal, hurt people.....but what do I know?

 

[AngryKoala]

Maybe you need to find yourself a second job

Nope. I live only one life and time is one thing you cannot buy.

 

[lariat]

You're not wrong but is that any different than any other program such as welfare? People game the system and we pay for it.

You have exposed a bit of the secret: if you as a politician offer to assist others with their unfortunate circumstance but distribute the cost across the rest of the nation’s populace there will never be any real bitching of consequence because there will be so little change for each person. As long as you kind of move around to the next unfortunate circumstance nobody will be the wiser. And you get to buy votes with taxpayer money! What’s not to love?

And here we are.

 

[Doctorwho1138]

Hmmm, no one complained about getting a $600 check to buy gun stuff....

I didn’t get one. The government doesn’t give me anything. I just pay and no free checks here.

I had scholarships and I also worked throughout school to pay for my school and to minimize my student loan debt. Student loan forgiveness doesn’t teach anyone anything. All it does teach is for people to ignore their debt and not make smart decisions on where and what education you go for. Let’s go Brandon indeed

 

[DarnYankeeUSMC]

Actually no. And I can't wait till the day comes that they have to shut down the programs because they can't rob the taxpayers enough to pay for it. The BLM/antifa riots would be like Sunday school.

You're not wrong but is that any different than any other program such as welfare? People game the system and we pay for it.

 

[AngryKoala]

Actually no. And I can't wait till the day comes that they have to shut down the programs because they can't rob the taxpayers enough to pay for it. The BLM/antifa riots would be like Sunday school.

I 100% agree.

 

[DarnYankeeUSMC]

That is where you are wrong. Do what you can to get out of debt as soon as you can. Debt is stress and will shorten your life. Imagine how much more you could do to enjoy your life if you were debt free.

Nope. I live only one life and time is one thing you cannot buy.

 

[Bigfatcock]

Just so everyone knows, I provide short term student loan relief to women.

 

[Lone Star]

We have generations who believe the government has money to give away. The govt. has money it steals from taxpayers and money it just prints with nothing to back it up with other than broken promises. It's our money and they work for us and we should fire any employee who is careless with it.

 

[The D]

Just so everyone knows, I provide short term student loan relief to women.

All the girls who strip “just to get through school”?