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Started By
Message
re: What’s even worse about forgiving 10k in student loans.
Posted on 8/24/22 at 9:48 am to HubbaBubba
Posted on 8/24/22 at 9:48 am to HubbaBubba
The Student Loan Interest Deduction cap should be drastically increased or removed all together and no phase outs.
That would help (and encourage) those who actually get their degree and repay the amounts they borrowed.
This is especially helpful for those who get graduate or professional degrees (doctors).
That would help (and encourage) those who actually get their degree and repay the amounts they borrowed.
This is especially helpful for those who get graduate or professional degrees (doctors).
Posted on 8/24/22 at 9:49 am to onmymedicalgrind
quote:
Agreed. Amount forgiven should be much higher.
You are Wrong buddy!
Those students knew, damn good and well, they had to repay these loans....it's called responsibility.
This is nothing more than a vote grab by the filthy progs!
And YOU will pay for it.
Posted on 8/24/22 at 9:49 am to Jimbeaux28
quote:
have a family member deep in debt from her husband’s long covid stay, where he ultimately passed away. Why no help for someone like that who didn’t sign documents agreeing to pay back the debt like student loans require you to do?
Are you sure the debt was t discharged upon his death?
Also, why is the wife in the hook? If she’s not a co-signor, I don’t see how she’s on the hook if the debt wasn’t discharged at death.
Posted on 8/24/22 at 9:50 am to TigerAttorney
the worst part is this doesn't solve the fundamental problem that got us here. People are still borrowing huge amounts to pay for college. This bill is like cleaning up the mess without first fixing the leak.
The cost of a college education has steadily risen the past few decades. And there's a reason why: Government subsidies. Look at the chart below. The cost of goods/services that have risen the most are all subsidized by the government. This is basic economics. The Government is essentially a guaranteed buyer for healthcare and education. Which means the suppliers of these services will continue to raise prices as long as they know the government will keep paying for it. The free market is not at play here, and its what we desperately need.
The cost of a college education has steadily risen the past few decades. And there's a reason why: Government subsidies. Look at the chart below. The cost of goods/services that have risen the most are all subsidized by the government. This is basic economics. The Government is essentially a guaranteed buyer for healthcare and education. Which means the suppliers of these services will continue to raise prices as long as they know the government will keep paying for it. The free market is not at play here, and its what we desperately need.
Posted on 8/24/22 at 9:53 am to Y.A. Tittle
quote:
That was my first thought on looking at this as well. Basically, we're "bailing out" the people who had no business going to college in the first place. What exactly is this "helping"?
If you have 30k in student loan debt and 10k is forgiven that doesn't help?
And who cares if someone flunked out. It still helps them
Posted on 8/24/22 at 10:01 am to Powerman
quote:
And who cares if someone flunked out. It still helps them
I think the bigger gripe is why student loans? Why is the gov't forgiving debt of any sort? Also, it's understandably irritating to have paid off your loans and then see this.
Posted on 8/24/22 at 10:03 am to onmymedicalgrind
quote:
Amount forgiven should be much higher.
Dear onmymedicalgrind,
Where do you think this money comes from? The government? The lender?
It comes from your neighbors, people that paid their loans off by maintaining responsibility of the debt they acquired, by folks that didn’t agree to accept the loan. And they aren’t agreeing to forgive you for acquiring the debt you did.
Forgiveness is not the correct word to use here. Forgiveness comes from a willingness to forgive, and is done by the person or entity that loaned you the money to begin with. Are these financial institutions just not going to get paid any longer?
If you want forgiveness, contact your lender and ask them for it. If you want others to be forced to bear YOUR debts, then carry on.
There’s no quicker way to lose the respect of good people than to be flippant about your principles, or have none at all.
Posted on 8/24/22 at 10:04 am to onmymedicalgrind
quote:freeloader pos
Agreed. Amount forgiven should be much higher.
Posted on 8/24/22 at 10:04 am to Powerman
quote:
And who cares if someone flunked out. It still helps them
Sure, but it's encouraging something that maybe shouldn't be.
Posted on 8/24/22 at 10:05 am to David_DJS
I don’t understand why this doesn’t have to go through the House and Senate.
Posted on 8/24/22 at 10:06 am to TigerAttorney
Stop sending kids to college, go to trade school and actually learn something useful to society.
Posted on 8/24/22 at 10:12 am to TigerAttorney
quote:
we need student loan reform.
the problem is that we have a symbiotic relationship between Politicians, Universities and Banks. Universities raise tuition, Govt approves raises, Banks and Govt manipulate interest rates, Banks approve huge loans on kids with zero capital or credit history, Universities greese palms of Politicians who make it easy to continue this scam and then these three all get rich as a result.
Meanwhile economically ignorant kids get stuck with a massive bill because they have been conditioned by the Big 3 into believing they must go to college to be successful and they must have the college experience.
I teach my kids that they only need to go to college if the career path they choose requires it, and they are to base their loans and college selection according to their future income will be. You don't go to Tulane if you're only making $50K in your career.
Posted on 8/24/22 at 10:13 am to LSULaw2009
quote:
The Student Loan Interest Deduction cap should be drastically increased or removed all together and no phase outs.
ALL OF THIS
Either let everyone utilize it or nobody.
We get penalized again here for making too much money to not be able to write the interest off . It’s all such bullshite
Posted on 8/24/22 at 10:16 am to onmymedicalgrind
quote:
Agreed. Amount forgiven should be much higher.
quote:
onmymedicalgrind
Pay your fricking bills.
Posted on 8/24/22 at 10:16 am to TigerAttorney
10,000 in forgiveness. Let’s call it $20/hr.
I’d demand 500 hours of community service out of everyone who gets forgiveness.
If you can make more than 10,000 with 500 hours of extra time, then I guess you don’t really need the forgiveness.
I’d demand 500 hours of community service out of everyone who gets forgiveness.
If you can make more than 10,000 with 500 hours of extra time, then I guess you don’t really need the forgiveness.
Posted on 8/24/22 at 10:18 am to Lawyered
quote:
We get penalized again here for making too much money to not be able to write the interest off . It’s all such bullshite
Isn’t that ironic? The ones with professional degrees, like myself, get phased out. And I’m not a victim I do very well.
But I also write a fat check to the US Treasury every year. So the individuals paying the most in taxes get no relief from the taxpayer funds.
Makes sense doesn’t it?
Posted on 8/24/22 at 10:20 am to Godfather1
I pay all of my bills, thank you very much.
Posted on 8/24/22 at 10:21 am to TigerAttorney
quote:
But I also write a fat check to the US Treasury every year. So the individuals paying the most in taxes get no relief from the taxpayer funds. Makes sense doesn’t it?
Oh it’s infuriating
Sometimes I think.. man.. maybe we are the idiots in this scenario .. and the freeloaders are the smart ones .
Posted on 8/24/22 at 10:24 am to David_DJS
quote:Look at all the good behavior the government penalizes and the bad behavior the government subsidizes.
I think the bigger gripe is why student loans? Why is the gov't forgiving debt of any sort? Also, it's understandably irritating to have paid off your loans and then see this.
Have a job? frick you, give us some of that.
Start a business? frick you, the Big Guy wants his cut, and we get to decide whom you hire and how you fire.
Buy a house? Good, you can pay for the local school for the kids you'll never have or that will never attend the school because we're busing in kids from neighborhoods their parents have utterly destroyed, making them unfit.
Oh... you don't want to work? Open up your purse and we'll dump in handfuls of cash, just remember when you vote to (D)o it correctly. Let us know if you have more kids so we can give you some more, since we know that more kids means you have to spend more on the new boyfriends so they don't leave.
Student loans seem like mostly people trying to do the right thing, although I'd support a case-by-case analysis. All the Marxist majors need not apply.
Posted on 8/24/22 at 10:26 am to TigerAttorney
My little brother was finally doing well financially in 2020, and when the payment moratorium was put in place I told him he should keep paying his student loans to really get to the principal.
Hw took my advice, but got aggressive, and paid off his $28K in loans during the moratorium. He and I both got Pell Grants. He is going to be so pissed at me. My good advice cost him a boat or a few nice vacations.
Hw took my advice, but got aggressive, and paid off his $28K in loans during the moratorium. He and I both got Pell Grants. He is going to be so pissed at me. My good advice cost him a boat or a few nice vacations.
This post was edited on 8/24/22 at 10:28 am
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