I wonder what the pause in student loans has done to contribute toward inflation? I would be paying 200 dollars a month right now, but no way I'm paying 0% interest loans that may get partially forgiven one day.
U.S. forgives 40k student loans
241–250 of 483 posts
Re: U.S. forgives 40k student loans
#242Earlier quoted context omitted.
Amen - tuitions are skyrocketing because of the "free money". It is also awful public policy to train people to get into debt right out of the gate - this just has all sorts of bad long term consequences.
Debt isn't inherently evil, it's just a tool. But any tool whether it's a hammer or a gun or a student loan can be used for good or evil.
Predatory debt traps are evil. The student loan industry (the schools being the marketers and beneficiaries) seem like predatory debt traps to me.
Re: U.S. forgives 40k student loans
#243Please, please, please take note before commenting: These are being forgiven under the Public Service Loan Forgiveness program, created in 2007 (fifteen years ago), which eliminates your remaining debt after you've made ten years of payments while working in the public sector (government or non-profit). This has nothing to do with current debates around loan forgiveness.
> are being forgiven under the Public Service Loan Forgiveness program, created in 2007 ... nothing to do with current debates around loan forgiveness Well, FWIW, I'd never heard of that program before now, but I'm not super happy about it, either.
Idk why you dont like the program but generally speaking this program is only needed because civil servants get paid absurdly low salaries.
Re: U.S. forgives 40k student loans
#244Please, please, please take note before commenting: These are being forgiven under the Public Service Loan Forgiveness program, created in 2007 (fifteen years ago), which eliminates your remaining debt after you've made ten years of payments while working in the public sector (government or non-profit). This has nothing to do with current debates around loan forgiveness.
What then is the point of the article? To tout something implemented by another administration? I haven't been employed by the taxpayers so who cares?
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Re: U.S. forgives 40k student loans
#245Earlier quoted context omitted.
That’s all fine and dandy until you realize the people who where smart and careful have to foot the bill for those who weren’t. I was smart and sacrificed a little by going to community college so I wouldn’t have debt. I was also smart enough to get a degree in stem where jobs are actually available and in demand. Why should I have to foot the bill for someone who just partied and got a useless degree? I did everythi…
How much do you really think this is taking out of your pocket? You are paying for others all the time with your taxes, which can’t be selective for the system to function
The system is already selective. It doesn't pay for my neighbor's boat, why should it pay for his student loans?
Re: U.S. forgives 40k student loans
#246Earlier quoted context omitted.
That is not the point. The point is that kids whose parents cannot pay/cosign a loan can currently get into the top 50 schools but without the government backing the loans, none of them would likely be able to get in at all leaving the top schools only for rich kids.
Not really, if a private lender believes your degree will pay off then you'd be able to easily get a loan for top 50 schools.
Nope, that is not how unsecured personal loans work. Those depend on your credit which most students don't have much/any and your debt-to-income which is normally infinite for students because they don't work.
Re: U.S. forgives 40k student loans
#247Earlier quoted context omitted.
End federal involvement in student loan and allow student loan debt to be discharged in bankruptcy. Problem solved.
Unfortunately no politician will have the guts to do this. This is why people are skeptical of the federal government getting involved in just about anything. They passed this program to help students afford school, and it’s done the opposite. It was also passed as a revenue neutral program of loans that would be repaid, now they’re increasingly being forgiven or put into forbearance. Now to fix it, someone will have…
People are skeptical of the federal government getting involved because of decades of propaganda and underfunding. Bad roads? Well, Congress and the states won't raise the fuel tax. Bad education? Congress lets loans go to shite diploma mills that have owners who make big campaign contributions. Just look at how underfunded (intentionally) the IRS is. How audits are primarily focused on the bottom 50% of earners, while the top 50% skate. The Federal government does a great job at many things, when given clear legislation, and funding. Unfortunately, Reagan did a great job with his BS about "I'm from the government and I'm here to help."
Re: U.S. forgives 40k student loans
#248It's crazy to cancel student loans and still keep issuing the exact same loans. If we believe the loans are unjust then the government should stop handing them out as the very first step.
And also reimburse the people who sacrificed to pay theirs off or avoid them in the first place. I’d donate my reimbursement if they did, but of course they won’t.
I paid off my student loans. My wife has student loans still.
If next year all new college students get free tuition I'm not going to be upset that I had to pay.
I'm going to be happy that they don't have my burden.
We as a society need to push the next generation up, not complain that they don't have it as hard as we do.
*Free Tuition = Tuition paid for by our taxes.
Re: U.S. forgives 40k student loans
#249Please, please, please take note before commenting: These are being forgiven under the Public Service Loan Forgiveness program, created in 2007 (fifteen years ago), which eliminates your remaining debt after you've made ten years of payments while working in the public sector (government or non-profit). This has nothing to do with current debates around loan forgiveness.
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