Apply for student loan debt forgiveness • Hacker News Board

Re: Apply for student loan debt forgiveness

#11

Post by OrangeMonkey » Sat, Oct 15, 2022, 2:06 AM UTC

qbasic_forever wrote: post #7

OrangeMonkey wrote: post #3

There is no such thing as forgiveness for loans - its always paid by someone. This is, in essence, transferring the debt from people who graduated college to people who - on average - did not go to college. The most regressive invisible tax hike we have ever had but sure. . . yay.

Heaven forbid a country invest in the education of its people. What a terrible no good idea, we should definitely be putting that money into pumping business or other interests.

You must have assumed I was against it - I am not sure why.

I am just pointing out that there is no forgiveness, the education expenses incurred by college graduates is now being paid by blue collar workers, and its the most regressive tax we have ever had. That doesn't mean I am against it.

I just want folks to know that the person paying your college off is a guy who wishes he could have gone to college.

Re: Apply for student loan debt forgiveness

#12

Post by vkou » Sat, Oct 15, 2022, 2:07 AM UTC

OrangeMonkey wrote: post #3

There is no such thing as forgiveness for loans - its always paid by someone. This is, in essence, transferring the debt from people who graduated college to people who - on average - did not go to college. The most regressive invisible tax hike we have ever had but sure. . . yay.

> This is, in essence, transferring the debt from people who graduated college to people who - on average - did not go to college.

That would only be true if everyone paid the same amount of taxes. We don't. College graduates pay significantly more taxes than non-college graduates.

This is largely a wealth transfer from the haves-college graduates to the have-nots college graduates. I'm not sure how you've missed the mark so wildly.

Re: Apply for student loan debt forgiveness

#13

Post by arthurcolle » Sat, Oct 15, 2022, 2:08 AM UTC

YeBanKo wrote: post #5

One of the worst decisions by the current administration. This a ridiculous debt transfer.

I am probably going to get 10K forgiven. Unshackling people from debt is awesome. Hopefully they figure out how to do this regularly. Sucks if you don't like it! Hopefully I can redirect the money to more fruitful enterprises... like anything else.

The massive increase in college tuition is totally out of proportion based on wage growth and honestly it's not healthy for the middle class to be forced into an infinite debt cycle forever, growing, like clockwork.

Thankfully you are not in office!

Re: Apply for student loan debt forgiveness

#14

Post by robbiet480 » Sat, Oct 15, 2022, 2:08 AM UTC

OrangeMonkey wrote: post #3

There is no such thing as forgiveness for loans - its always paid by someone. This is, in essence, transferring the debt from people who graduated college to people who - on average - did not go to college. The most regressive invisible tax hike we have ever had but sure. . . yay.

And yet we forgave PPP loans which was $742 billion forgiven vs $400 billion for student loan forgiveness.

This is, in essence, transferring the debt from people who own businesses to people who - on average - do not own businesses. The _actual_ most regressive invisible tax hike we have ever had but sure. . . yay.

Re: Apply for student loan debt forgiveness

#15

Post by tonmoy » Sat, Oct 15, 2022, 2:08 AM UTC

While this is better than nothing, I would rather have my tax dollars paid for free higher education with oversight on the quality of the education and how the money is used. Blanket forgiveness would encourage bad actors from offering useless degrees at high cost imo

Re: Apply for student loan debt forgiveness

#16

Post by pb7 » Sat, Oct 15, 2022, 2:09 AM UTC

qbasic_forever wrote: post #7

OrangeMonkey wrote: post #3

There is no such thing as forgiveness for loans - its always paid by someone. This is, in essence, transferring the debt from people who graduated college to people who - on average - did not go to college. The most regressive invisible tax hike we have ever had but sure. . . yay.

Heaven forbid a country invest in the education of its people. What a terrible no good idea, we should definitely be putting that money into pumping business or other interests.

If you want to invest in education then negotiate deals with universities as a government instead of handing blank checks to institutions that are charging $60K/year for tuition that’s somehow offered for 1/10th the price at similar institutions. This is pouring one bucket of water on a house fire but that bucket of water was someone’s only drinking water. It doesn’t solve the problem at all but now you’ve also pissed off a bunch of other people.

Re: Apply for student loan debt forgiveness

#17

Post by zapdrive » Sat, Oct 15, 2022, 2:09 AM UTC

maxfurman wrote: post #6

OrangeMonkey wrote: post #3

There is no such thing as forgiveness for loans - its always paid by someone. This is, in essence, transferring the debt from people who graduated college to people who - on average - did not go to college. The most regressive invisible tax hike we have ever had but sure. . . yay.

Is this so different from the PPP loans that were forgiven?

Are you comparing loans given to businesses to stay afloat during a government mandated shutdown of an unprecedented scale where those businesses were forbidden by the government to do business, to the free will of students taking a loan understanding very well the consequences of their decision?

Re: Apply for student loan debt forgiveness

#18

Post by ssphl » Sat, Oct 15, 2022, 2:10 AM UTC

OrangeMonkey wrote: post #3

There is no such thing as forgiveness for loans - its always paid by someone. This is, in essence, transferring the debt from people who graduated college to people who - on average - did not go to college. The most regressive invisible tax hike we have ever had but sure. . . yay.

That is a pretty big assertion to make: that on average, most of the tax collection over the entire US is paid by non-college graduates.

Re: Apply for student loan debt forgiveness

#19

Post by zapdrive » Sat, Oct 15, 2022, 2:11 AM UTC

robbiet480 wrote: post #14

OrangeMonkey wrote: post #3

There is no such thing as forgiveness for loans - its always paid by someone. This is, in essence, transferring the debt from people who graduated college to people who - on average - did not go to college. The most regressive invisible tax hike we have ever had but sure. . . yay.

And yet we forgave PPP loans which was $742 billion forgiven vs $400 billion for student loan forgiveness. This is, in essence, transferring the debt from people who own businesses to people who - on average - do not own businesses. The _actual_ most regressive invisible tax hike we have ever had but sure. . . yay.

No post body was provided.

Re: Apply for student loan debt forgiveness

#20

Post by qbasic_forever » Sat, Oct 15, 2022, 2:11 AM UTC

OrangeMonkey wrote: post #11

qbasic_forever wrote: post #7

Earlier quoted context omitted.

Heaven forbid a country invest in the education of its people. What a terrible no good idea, we should definitely be putting that money into pumping business or other interests.

You must have assumed I was against it - I am not sure why. I am just pointing out that there is no forgiveness, the education expenses incurred by college graduates is now being paid by blue collar workers, and its the most regressive tax we have ever had. That doesn't mean I am against it. I just want folks to know that the person paying your college off is a guy who wishes he could have gone to college.

Complete nonsense, there's no tax increase for anyone to fund this work. We're buying like 10 less missile systems from Raytheon on a tab of defense spending 100k items long to fund stuff like this. It's a complete nonissue and you're just trying to make some bizarre emotional appeal.