More concerning student loan payoffs

Derp, derp ….. flush.

 

It shouldn't need to be pointed out, but borrowing money to form a business allows you to get rid of debt via personal (worst-case scenario) or business bankruptcy processes. So those "risks" already have substantial legal/governmental benefits compared to student debt.

 

What an enlightening intellectual response.

 

Im all in on those subsidies that benefit all Americans. Agriculture that feeds us, green items within reason, military, infrastructure, etc.

Big Sugar, no.
Tax breakers for mortgage interest and property taxes no.
Forgive student loans no (unless it’s an interest deduction where the lender doesn’t lose money after expenses)

 

Virtually nobody will have their SL debt paid off.

 

Almost all of this “forgiveness” is actually enforcing existing law.

I’m not sure any is actually new. Maybe the scammer colleges was “new”, but even that was done on the pretense of existing law.

As wgb has pointed out, this is perhaps the only thing the US government does that is profitable, and it is obscene.

I know that via three loans. Two I paid off in full at enormous profit. I still have one that I am slow paying hoping for the forgiveness after 10 years. But I have already paid the original amount. I am pure profit for another three years at least. The new SAVE plan did indeed lower my payment, but the big deal with that one is it eliminates both capitalizing interest and the interest in full so long as you pay in full-on time.

I am indifferent on straight forgiveness. If forced to I’d be in favor due to my own experiences and others I personally know. But I am adamantly in favor of the forgiveness plans, like the one I am pursuing. 120 straight in-full/on-time payments for someone who will otherwise never catch up seems fair to me. Lenders won’t lose, they just won’t feast. I am in favor of expanding the eligible professions. I believe it should be routinely updated to include national needs/shortages, even high paying professions like doctors, or translators, or whatever it is that is critical and in short supply. If it’s beneficial to society then why wouldn’t society assist?

I understand that my coal miner family is indignant, but they damn sure expect me to babysit the kids from 8-3 everyday while also magically transforming them into passable human beings.

$20K per year (UVA, in-state; $56K out of state) plus interest (if it’s all loan) for at least four years to start out at $35K is an absurd concept without some sort of subsidy. There would essentially be no teachers. Someone who can foot that without loans or relief is likely already stationed in life to do something more lucrative. Anyone operating on pure cost analysis would also choose something, anything else.

 

But what if we let you wear jeans on Fridays?

 

Ha! So, at my former school, you had to PAY to do that. $30, which went to a school provided scholarship. This was Fauquier County, median household income like $90K, and they’re making teachers pay to wear jeans once a week. Just $30 for the year, but that was silly.

I can actually wear jeans now, any day, cost free, but I don’t. A handful of teachers do. Most don’t. We have a surprising number who show up fully suited everyday. I’m a quarter zip/Dockers type.

I do wear triple black Air Max 95’s and such, trying to disguise a comfy shoe as work-appropriate. But that’s as casual as I get.

 

Covid started when?

 

Interesting article even if it’s from NPR. These are the folks that should get a handout from the federal government…. not some person that overpaid for a college degree.

https://www.npr.org/2024/04/22/1245...O6X9wGa0oef32_26JBT32jTsFxEO2alZXeIHpeq5txH8p

 

Why do they need a handout? If they are in a paid program, they are eligible for student loans (with the same rules as any other student loan). If they aren't, then the program didn't cost them money.

 

If the loans are government subsidized, then why can't the government negotiate the tuition cost like they would for prescription drugs on Medicare? Then it would be up to the school to either take what they can get or wait for someone to qualify for a private loan to pay what they want.