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Apply for student loan debt forgiveness

studentaid.gov

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Re: Apply for student loan debt forgiveness

#41

Post by arvigeus »

sergiomattei wrote: post #9

As someone whose partner is bogged by student debt — unable to find a job in their industry due to the recession — this is such a relief. Those arguing this is a debt transfer, have some sympathy. Things are difficult out there, especially for new grads in this economic environment.

I think the problem is that the current “solution” is simply a band-aid. While it may help some, it will not solve the issue. Could make it worse too. I’d say it’s a good first step, but the government should walk the whole way. Wishing you luck!

Re: Apply for student loan debt forgiveness

#42

Post by AmVess »

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.

People need to invest in themselves instead of begging for freebies. There's no reason why I should be paying for someone's pointless and useless education.

Re: Apply for student loan debt forgiveness

#43

Post by sigzero »

krapp wrote: post #30
tonmoy wrote: post #15

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

> Blanket forgiveness would encourage bad actors from offering useless degrees at high cost imo Do you think that isn't already happening?

Sure, but now we are subsidizing it.

Re: Apply for student loan debt forgiveness

#44

Post by sonotathrowaway »

zapdrive wrote: post #19
robbiet480 wrote: post #14

Earlier quoted context omitted.

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.

Quoted post unavailable.

This is hilariously slanted.

Re: Apply for student loan debt forgiveness

#45

Post by melling »

zapdrive wrote: post #19
robbiet480 wrote: post #14

Earlier quoted context omitted.

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.

Quoted post unavailable.

The system doesn’t work if we need to keep subsidizing everyone

For example, FEMA subsidizes flood insurance so people can live in flood prone areas.

Of course, with climate change, this will cost even more to the taxpayer.

Re: Apply for student loan debt forgiveness

#46

Post by AmVess »

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?

How is it similar? Businesses that employ people and generate tax revenue vs someone with a gender studies degree that will never add value to anything or anyone but the institution that charged them $150k for the degree.

Re: Apply for student loan debt forgiveness

#48

Post by someotherpersom »

ssphl wrote: post #18
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.

That’s not the assertion they made. They’re average person paying tax didn’t graduate college, which is different from saying that most of the tax revenue is collected from non-college graduates.

Re: Apply for student loan debt forgiveness

#49

Post by ssphl »

ssphl wrote: post #18
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.

I guess I will do the napkin math: 39% of Americans graduated college [2]

Income of mid-career is 111,000 (college) vs 43,000 (HS) [2]

Lifetime increase in earnings is estimated 800,000, paying taxes the whole time.

So I think the commenter calling this a one time tax deduction is closer to reality than a "regressive tax". Probably less regressive than the 401Ks many college grads have vs HS.

[1] https://money.com/wage-gap-college-high-school-grads/ [2] https://www.cbsnews.com/news/how-many-of-us-are-college-grad...

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