People have a weird fixation in this country with every day people getting financial breaks. Meanwhile, I have a friend with a construction business that got a PPP loan, had it forgiven and used the cash to buy a residential rental property for himself. But that's ok, right?
None of those people benefit from this anyways, because it’s a story about servicing of private loans. But yes, it’s certainly true that there are plenty of people out there who make terrible financial decisions, and plenty of companies willing to facilitate those terrible financial decisions to profit off of them.
Not saying no one’s in a tough spot with student loans, just don’t think it’s the place of the government to try to ensure poor choices don’t have consequences, especially when the effect of doing so is just to spread the pain of those poor choices across the population who did not make them.
I agree in principle, but the early report is that only those who make less than 125k will be eligible (someone has probably already pointed this out).
When the government gives homeowners' mortgage relief, some of that money comes from renters. When Trump and the republicans in congress gave the rich a huge tax break, some of that money came from the middle class. When the US goes to war, some of paying for it comes from pacifists' taxes. It's the way this country works.
True - I imagine that only federal loans will be forgiven in the amount of 10k. Was this confirmed? If true, it's a matter of reducing the principle and the amount the fed will earn in interest. It's not a cash handout.
It's not the primary purpose of higher education, though I also suspect you are wrong about employment preparation. The employment numbers for college grads likely bear this out.
Please ensure you tell everyone in your entire family to not accept the student loan forgiveness if they qualify
So if we are going to go down this road, that because Bill got a break, then Jim should get one too, where does it end? A debt jubilee of all the debts in the nation? The merits for the terrible PPP debt forgiveness program (which was designed that way) is not in itself a justification for a middle class college debt forgiveness program that has no specific goal and no specific purpose.
At least allowing a partial bankruptcy for some amount of student loans could be part of a package of refinancing and restructuring, and would give the borrower some skin in the game.
I'm sure those concerned about the moral hazard of those not abiding by their legal obligations fully support additional IRS agents and audits to ensure all pay all the taxes they are legally obligated to pay. Don't want those avoiding full payment to be morally corrupted by their choices
He can’t remember his campaign promises nor that he is the POTUS. Sky News (Australia) has many YouTube’s on Biden that are just shocking and funny and not so funny at the same time.
