Senate votes to kill $400 billion student loan handout, sets up fifth Biden veto

How was year 1 at good value instate App?

 

or make it free. never really understood why we are like here's k-12 free, but the rest isn't.

 

Deans List and debt.

She stormed the field after the hail mary with Gameday in the house.
Hardly any snow.
One break up.


All grants and scholarships for year 2 thankfully.

How about you?

 

I don't think the gov is looking to payoff/forgive 280k in loans, or even 70k for that matter.

 

That was the best game Ive ever been at that wasn’t a gator game.

Good enough grades to go back, zero calls from the back of a police car, and the required level of GF/BF drama that ended in spectacular fashion. So all in all a great year for that one.

 

My point was twofold. First, people shouldn’t be rewarded for bad choices.
But if you went to a public school, you might not even have debt at all.
It also doesn’t account for families that could have paid the costs and chose to take out the loans, people who paid off the loans and now get nothing, people who got degrees they can’t use in a modern economy, schools that are more expensive than they should be because they know they can charge it and things like this will bail them out, people who went but didn’t graduate, and a hundred other things.
It’s a facile and inequitable solution to a much deeper problem.

 

Yes, that money came from somewhere and had been paid back tenfold by a lot of people. Not to mention the gazillion dollars that have been used bail out Wall Street, banks, auto makers, airlines, etc.

Crippling debt is not good for the economy and yes, the whole system needs to be fixed. The pause of student debt payments didn’t blow up the deficit like the ridiculous tax cuts did, not mention that you can’t discharge student debt in bankruptcy proceedings like other debts.

The cost of education is absurd and quite frankly a lot of folks middle aged and older really don’t get it. Couple that with the cost of housing and young people are caught in a vise.

In addition, the trope that these borrowers are gender studies and underwater basket weaving grads is nonsense.

 

It’s also a facile argument that these borrowers are all private school grads with gender studies degrees.

 

where did I say they all were? I was using that as an example, I gave plenty of other ones in my follow up post.

 

Again, that’s the standard go to. Doctors and other professionals have a lot of student loan debt but they’re not usually the target of this “I got mine, screw you” ire.

 

I got mine too, and paid it back, every dime despite working low paying jobs for the first few years out of school. I did it without deferments, without bills like this, because I understood what an obligation was.
So sorry if it sounds harsh, there’s just not a lot of sympathy from me for people taking on debt they can’t afford or debt they don’t honor by getting a useful degree that can pay it back. That’s on them. Choices have consequences, it’s not on me or anyone else (especially those who didn’t go to college) to pick up the bill.
Jmo.

 

And by the way, if enough kids say “no that’s too much, I’m not going there”, guess what will magically happen? Costs will come down and everyone benefits.
But instead of holding universities accountable for the spiraling costs, we incentivize it by subsidizing it further. We could easily pass a law limiting ferry backed loans to schools that best maximize their funds. But this is the solution we chose.
It’s insanely dumb.

 

Just more insanity from the left. All we heard for the last few weeks was that we had to pay our debts. Default by not paying existing debt is not an option! WE HAVE TO PAY OUR DEBTS. Sure didn't take long for that mantra to reverse course. LOL at each of you!!!

And the elected individuals in both the house and the senate came to the same decision on this. Democracy in action. Funny now how some think stumbling Joe Bidumb acting as a dictator is the proper way to go. And the courts is the proper way to resolve this matter when a dictator-like action oversteps legal bounds.

 

Student loans should be illegal. Its predatory to give poor uneducated 18-22 year olds the ability to screw themselves for 20-40 years.

That being said, the gov is a mess with loans. I have had my servicer changes 3 times over the last 5 years. I have reached out to the latest one about forgiveness since i have had 10+ years working in government. So far, 6 months later, no response. At this point, I dont even know what I owe or if I should technically owe anything at this point. I know alot of others that are in the same boat. Lawyers are going to make some money on this one.

 

Again, you’re looking through a middle aged (or older) prism.

Are you opposed to any form of bankruptcy?

 

I’ll agree about the government profits. As far as cost skyrocketing, that is heavily fed by the easy availability of loans.

 

That’s exactly the point, the availability of the loans themselves are creating a cost feedback loop that we are solving in the exact opposite way we should.

 

Reading through this thread, I realize not one person likely read through the Biden Plan that the Senate just voted against. If you had, you would see that they are attempting to include the first steps towards many of the reforms people are asking for in this thread. This goes way, way beyond "debt forgiveness"....but that is what Fox News wants people to read knowing that Americans are too lazy in general to actually go read the entire plan for themselves.

This is far, far from perfect or maybe even good depending upon where your opinions lie, but it is still much more than the headline.

FACT SHEET: President Biden Announces Student Loan Relief for Borrowers Who Need It Most | The White House

 

Bankruptcy you have to show insolvency, and creditors still get paid back with what’s there.
This is a blind “free for everyone just because” approach that doesn’t help the deeper problem. It only makes it worse. It was a payback to his young voters, nothing more.

 

The healthcare solution could use some of this logic as well.