Canceling student loans

[Tommy Callahan]

The change to 5% of discretionary for repayment is only going to make the college debt bubble larger and make the problem worse.

 

he knew that Ex order would never fly. but was good PR for the election.

 

If your gonna cancel debt. seems that it would be directed at the poor, working and possibly medical as that spans demos.  

 

Vs the management class and folks with bad work ethic. 

 

 

[Irv]

I am torn on this subject.   I went to college and paid off my loans.  I put both my kids through 4 years of private college.  Now I have one kid who is going to grad school who will have significant debt when done this year.  Would I like to see her get her debt reduced?  Of course.   But why don't I get any money?  Why doesn't Lunchpail Larry who didn't go to college get anything?  This is just another Demented Biden handout to get votes. 

 

What a mess.     

[Biden is Mentally Fit]

Only the best and brightest representing us in DC. 

[leh-nerd skin-erd]

45 minutes ago, Irv said:

I am torn on this subject.   I went to college and paid off my loans.  I put both my kids through 4 years of private college.  Now I have one kid who is going to grad school who will have significant debt when done this year.  Would I like to see her get her debt reduced?  Of course.   But why don't I get any money?  Why doesn't Lunchpail Larry who didn't go to college get anything?  This is just another Demented Biden handout to get votes. 

 

What a mess.     

The appropriate stance in my opinion is to do what the law allows regardless of feelings on the program.  
 

It would appear the trend favors forgiveness, so doing it over, I’d suggest a mix of personally paid with an eye toward taken advantage of the max amount of  forgiven debt.   

 

 

[Niagara Bill]

Maybe just allow all the school donors to donate to fund to pay off loans of real students rather than supporting scholarships for NFL and NBA  training grounds for non students? 

The whole system stinks. Government starts a school, charges students half a fortune to attend, gives free ride to non students as a try out for NFL, who raise money for a bigger school building and equipment, to attract more donations and then cost of actual education goes up again?

Maybe just reduce original enrolment costs and forget all the rest of the glitter? The rules of who gets help afterthe loan is completed and the tuition is paid is too complicated and political to be effective. If the law is more than 1 page long it is wrong. 

[BillStime]

1 hour ago, Irv said:

I am torn on this subject.   I went to college and paid off my loans.  I put both my kids through 4 years of private college.  Now I have one kid who is going to grad school who will have significant debt when done this year.  Would I like to see her get her debt reduced?  Of course.   But why don't I get any money?  Why doesn't Lunchpail Larry who didn't go to college get anything?  This is just another Demented Biden handout to get votes. 

 

What a mess.     

 

So, you would be cool with it if you, too, were getting a reimbursement for the investment YOU made in your kids?

 

All of my conservative friends who have yet to pay off their loans are upset this is getting held up by their leaders.  Karma sucks.

 

[Tommy Callahan]

Back in the day it was Called Jubilee. 

 

Not the newer monarch tradition of celebration.

 

But the cancelling of debt

 

here is more of a PR move for votes to a certain demographic.  younger folks.

 

 

[AlBUNDY4TDS]

26 minutes ago, BillStime said:

 

So, you would be cool with it if you, too, were getting a reimbursement for the investment YOU made in your kids?

 

All of my conservative friends who have yet to pay off their loans are upset this is getting held up by their leaders.  Karma sucks.

 

Do you call your conservative friends cult members as well? I don't believe you have any but maybe im wrong.

[BillStime]

6 minutes ago, AlBUNDY4TDS said:

Do you call your conservative friends cult members as well? I don't believe you have any but maybe im wrong.

 

No - they're not deranged like you.

 

 

 

[AlBUNDY4TDS]

18 minutes ago, BillStime said:

 

No - they're not deranged like you.

 

 

 

Man if i am deranged then what would that make you?

[BillStime]

6 minutes ago, AlBUNDY4TDS said:

Man if i am deranged then what would that make you?

 

Amazing.

 

[AlBUNDY4TDS]

29 minutes ago, BillStime said:

 

Amazing.

 

Everything seems clearer now

[Over 29 years of fanhood]

6 hours ago, JDHillFan said:

Only the best and brightest representing us in DC. 

dude has been out of school 24 years and hasn’t made a debt in his student loans? As a congressman? Sounds like he just doesn’t pay his bills 

[B-Man]

 

But of course.

 

 

Leftists Ready To Blame Republicans When SCOTUS Strikes Down Biden’s Unconstitutional Student Loan Forgiveness

 

 

https://legalinsurrection.com/2023/03/leftists-ready-to-blame-republicans-when-scotus-strikes-down-bidens-unconstitutional-student-loan-forgiveness/

 

 

 

 

.

[ALF]

Higher Education Relief Opportunities For Students Act

The Higher Education Relief Opportunities For Students (HEROES) Act (Pub. L. 108–76 (text) (PDF)) was legislation passed unanimously by the United States Congress and signed into law by President George W. Bush on January 15, 2002. It was extended and amended in 2003, extended in 2005, and made permanent in 2007.

 

 Act allows the U.S. Secretary of Education to grant waivers or relief to recipients of student financial aid programs under Title IV of the Higher Education Act of 1965, in connection with a war or other military operation or national emergency.[1] It allows waiving of statutory or regulatory requirements related to federal student loans for three categories of individuals: active-duty military or National Guard officials, those who reside or are employed in a declared disaster area, or those who have suffered direct economic hardship as a result of wars, military operations, or national emergencies

 

https://en.wikipedia.org/wiki/Higher_Education_Relief_Opportunities_For_Students_Act#:~:text=The Higher Education Relief Opportunities,and made permanent in 2007.

 

How much government aid went to big business during covid , massive tax loop holes and in return price gouging.

[Tommy Callahan]

2 minutes ago, ALF said:

Higher Education Relief Opportunities For Students Act

The Higher Education Relief Opportunities For Students (HEROES) Act (Pub. L. 108–76 (text) (PDF)) was legislation passed unanimously by the United States Congress and signed into law by President George W. Bush on January 15, 2002. It was extended and amended in 2003, extended in 2005, and made permanent in 2007.

 

 Act allows the U.S. Secretary of Education to grant waivers or relief to recipients of student financial aid programs under Title IV of the Higher Education Act of 1965, in connection with a war or other military operation or national emergency.[1] It allows waiving of statutory or regulatory requirements related to federal student loans for three categories of individuals: active-duty military or National Guard officials, those who reside or are employed in a declared disaster area, or those who have suffered direct economic hardship as a result of wars, military operations, or national emergencies

 

https://en.wikipedia.org/wiki/Higher_Education_Relief_Opportunities_For_Students_Act#:~:text=The Higher Education Relief Opportunities,and made permanent in 2007.

 

How much government aid went to big business during covid , massive tax loop holes and in return price gouging.

in short, most.

 

but that has nothing to do with bidens moronic college debt plan that would give small breaks to the management class while making the problem worse long run, by changing the repayment amount to 5% of disposable income.

 

Seems some of these people would have learned about compounding interest while taking on that college debt.

 

 

[All_Pro_Bills]

22 hours ago, BillStime said:

 

So, you would be cool with it if you, too, were getting a reimbursement for the investment YOU made in your kids?

 

All of my conservative friends who have yet to pay off their loans are upset this is getting held up by their leaders.  Karma sucks.

 

By providing the views of your "conservative" friends, you're confirming what I contend is the dominant human behavioral characteristic.  And that is people will almost always take an action or express a belief that aligns with their own self-interest.  Rare is the truly altruistic individual.  In this case, people with outstanding loan balances supporting loan forgiveness and people without loan balances or people that paid off their loans opposing loan forgiveness.   

 

But the issue isn't what's in each person's self-interest.  The issue is that, unless they were defrauded or deceived or their legal rights under contract law were violated, all these folks taking out student loans voluntarily entered into a contact with another party.  They should have been fully aware of the terms and conditions of the loan.  And if they weren't that's their own fault.  If they can't or won't pay it back that's a private matter between them and their creditor.  There's no legal or moral reason why the public at large via funding the government should assume responsibility for the debts of a certain group of debtors that each entered a contract of their own free will.  

 

 

 

 

[BillStime]

15 minutes ago, All_Pro_Bills said:

In this case, people with outstanding loan balances supporting loan forgiveness and people without loan balances or people that paid off their loans opposing loan forgiveness. 

 

I paid off my loans years ago and have NO issue with others getting relief.

 

15 minutes ago, All_Pro_Bills said:

all these folks taking out student loans voluntarily entered into a contact with another party. 

 

Now do PPP loans.

 

 

[SoCal Deek]

51 minutes ago, BillStime said:

 

I paid off my loans years ago and have NO issue with others getting relief.

 

 

Now do PPP loans.

 

 

What about PPP loans exactly? Did companies ask or demand to have them forgiven? 

[All_Pro_Bills]

1 hour ago, BillStime said:

 

I paid off my loans years ago and have NO issue with others getting relief.

You must be that rare altruist and humanitarian.