Gregg Posted July 14, 2023 Posted July 14, 2023 48 minutes ago, BillStime said: This is just a vote buying scheme by Biden. It will lose in court again. People will fall for it, but the Supreme Court already said no. Nothing to see here. Besides the executive branch doesn't control the spending, the House does. 2
The Frankish Reich Posted July 14, 2023 Posted July 14, 2023 4 minutes ago, Gregg said: This is just a vote buying scheme by Biden. It will lose in court again. People will fall for it, but the Supreme Court already said no. Nothing to see here. Besides the executive branch doesn't control the spending, the House does. No. As I understand it, this is a loosening of the controls on who qualifies for income-based/public-service based loan forgiveness. In other words, something people were promised when they took out the loan. So not the same thing. 1
ChiGoose Posted July 14, 2023 Posted July 14, 2023 (edited) 6 minutes ago, Gregg said: People will fall for it, but the Supreme Court already said no. SCOTUS said that the President doesn't have the authority to cancel student loan debt under the HEROES Act. The details of this policy have not been released yet, but I very much doubt that it is also grounded in that law. Edited July 14, 2023 by ChiGoose 1
The Frankish Reich Posted July 14, 2023 Posted July 14, 2023 Just now, ChiGoose said: SCOTUS said that the President doesn't have the authority to cancel student loan debt under the HEROES Act. The details of this policy have not been released yet, but I very much doubt that it is also grounded in that law. Correct. There are lots of reports showing that the government made the promised student loan forgiveness ridiculously difficult to obtain. Whether that policy (income based/public service based) loan forgiveness is a good one is a different question. But I see no legal/constitutional objections to what they're doing now. 1
SoCal Deek Posted July 14, 2023 Posted July 14, 2023 18 minutes ago, The Frankish Reich said: Correct. There are lots of reports showing that the government made the promised student loan forgiveness ridiculously difficult to obtain. Whether that policy (income based/public service based) loan forgiveness is a good one is a different question. But I see no legal/constitutional objections to what they're doing now. What I find interesting is that the two biggest eligible categories as described in the Tweet are public servants and people with disabilities. The former seems well intentioned. Although the biggest number of recipients would have to be teachers whose salaries are of course paid by the State not federal government so it would seem that’s where the forgiveness should come from. 1
The Frankish Reich Posted July 14, 2023 Posted July 14, 2023 Just now, SoCal Deek said: What I find interesting is that the two biggest eligible categories as described in the Tweet are public servants and people with disabilities. The former seems well intentioned. Although the biggest number of recipients would have to be teachers whose salaries are of course paid by the State not federal government so it would seem that’s where the forgiveness should come from. I agree. As a federal employee at various times, I'll note (as I reminded younger workers of many times over the years) that the public sector loan forgiveness is not something that my generation had. Basically it's a ten-year commitment, and I've known a lot of government employees who get over $100,000 of student loan debt discharged. In other words, all the kids complaining about their high debt burden? Check out all those government jobs going unfilled. The downside: you actually have to work. Your career as a budding film maker or full-time influencer may have to wait. 1
SoCal Deek Posted July 14, 2023 Posted July 14, 2023 1 minute ago, The Frankish Reich said: I agree. As a federal employee at various times, I'll note (as I reminded younger workers of many times over the years) that the public sector loan forgiveness is not something that my generation had. Basically it's a ten-year commitment, and I've known a lot of government employees who get over $100,000 of student loan debt discharged. In other words, all the kids complaining about their high debt burden? Check out all those government jobs going unfilled. The downside: you actually have to work. Your career as a budding film maker or full-time influencer may have to wait. I have no idea why the loan has to be ‘forgiven’ at all. If you’re a teacher, and your union is in there fighting for all sorts of benefits, why not fight for the District to pay off your loan? I’m guessing it’d be a great recruitment tool, even for young professionals who hadn’t considered going into teaching in the first place.
unbillievable Posted July 17, 2023 Posted July 17, 2023 The average student loan debt is $28k. (bachelors) and $40k overall. The average car loan is $26k (used) and $40k (new). Looks pretty close... So why are students loans considered a national crisis that will ruin a person's life through crushing debt that they can never hope to repay, ... ...but a car loan can be paid off in 4 to 6 years, with new loans being taken again and again every decade? 1
boyst Posted August 16, 2023 Posted August 16, 2023 @Pasta Joe please bring your low intelligence on this here PPP was voted legally and soudly by Congress and the house. The student forgiveness people are discussing and obfuscating is something done by executive fiat which is not the legal process. Your emotional feels on this are irrelevant. *hugs and kisses* 2
ALF Posted August 16, 2023 Posted August 16, 2023 When your income is too low the payments go to $0 a month ? My question when your income increases to make payments again did the loan keep going up with interest while not making payments ? thanks
Tommy Callahan Posted August 16, 2023 Posted August 16, 2023 3 hours ago, ALF said: When your income is too low the payments go to $0 a month ? My question when your income increases to make payments again did the loan keep going up with interest while not making payments ? thanks Thats kind of the entire reasoning for the price and bubble. people are not paying the min and the interest charges keep climbing. (that and the amount of dropouts) Its why many saw bidens move from 10% of discretionary for repayment, changed to 5% as making the problem worse long term. Strongest force in nature, is compounding interest. 1
Doc Posted August 16, 2023 Posted August 16, 2023 I'm still amazed how unscathed colleges and universities have been in this whole debacle. They're the ones charging and receiving the tuition, and raising it every year. 1
SoCal Deek Posted August 16, 2023 Posted August 16, 2023 Just now, Doc said: I'm still amazed how unscathed colleges and universities have been in this whole debacle. They're the ones charging and receiving the tuition, and raising it every year. I agree….but only sort of….if customers keep flooding your restaurant no matter how much you raise the prices on your menu….do you blame the restaurant? 1 1
Over 29 years of fanhood Posted August 16, 2023 Posted August 16, 2023 13 minutes ago, SoCal Deek said: I agree….but only sort of….if customers keep flooding your restaurant no matter how much you raise the prices on your menu….do you blame the restaurant? If you close your eyes you can hear just the ‘real men of genius’ anthem playing while a rich tv voice over says… “And here’s to Joe business guy who realizes that things you can buy with easily borrowed money inflate rapidly in cost over time.” 2 1
SoCal Deek Posted August 16, 2023 Posted August 16, 2023 4 minutes ago, Over 29 years of fanhood said: If you close your eyes you can hear just the ‘real men of genius’ anthem playing while a rich tv voice over says… “And here’s to Joe business guy who realizes that things you can buy with easily borrowed money inflate rapidly in cost over time.” Most things in life aren’t complicated. It’s amazing how many drinks and appetizers are bought for the table when someone down at the end says “it’s on the company tonight”. 1 1
Doc Posted August 16, 2023 Posted August 16, 2023 54 minutes ago, SoCal Deek said: I agree….but only sort of….if customers keep flooding your restaurant no matter how much you raise the prices on your menu….do you blame the restaurant? Yeah but no one's demanding that others pay for their meal.
SoCal Deek Posted August 16, 2023 Posted August 16, 2023 Just now, Doc said: Yeah but no one's demanding that others pay for their meal. Colleges are demanding their customers pay the bill? I’d hope/expect that they would! All businesses have collection agencies when an outstanding balance persists.
Doc Posted August 16, 2023 Posted August 16, 2023 10 minutes ago, SoCal Deek said: Colleges are demanding their customers pay the bill? I’d hope/expect that they would! All businesses have collection agencies when an outstanding balance persists. No people are demanding others pay their college loans.
SoCal Deek Posted August 16, 2023 Posted August 16, 2023 10 minutes ago, Doc said: No people are demanding others pay their college loans. Yes, I’m aware, but you’d mentioned you were amazed that colleges weren’t being held responsible. Other than the fact that sell ridiculously worthless degrees in majors that are a total waste of time, talent and resources, I’m not sure they are the culprit here. I could’ve almost bought the liberal line of bullshite when they told us banks were preying on the least intelligent among us during the housing bubble….but college students? I thought they were supposed to be most intelligent! No?
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