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re: John Oliver Goes Hard on Student Loans Forgiveness: LSU and LA College Funding Addressed
Posted on 3/21/24 at 7:57 am to Tarps99
Posted on 3/21/24 at 7:57 am to Tarps99
Student loan forgiveness makes me irrationally angry. Why not drop the interest rate to 1% instead of forgiving the whole damn thing.
7
Posted on 3/21/24 at 7:59 am to MSTiger33
Since we've been told that student loans are so burdensome and predatory on our yutes, why not eliminate them altogether?
Posted on 3/21/24 at 9:12 am to MSTiger33
quote:
Why not drop the interest rate to 1% instead of forgiving the whole damn thing.
Because then the bullshite house of cards of college falls apart.
Posted on 3/21/24 at 10:04 am to MSTiger33
For the people that want to transfer student loan debt to the taxpayer, what are you going to do for the people starting college this year? What about the ones in 5 years? Nothing has changed, so they are going to be just in debt if not more. Are you planning to give them the same deal? Or is this just a special one-time-only opportunity to entice current Biden voters?
Posted on 3/21/24 at 10:19 am to MSTiger33
quote:
Student loan forgiveness makes me irrationally angry. Why not drop the interest rate to 1% instead of forgiving the whole damn thing.
There isn't and hasn't been any outright forgiveness as Biden was pushing for. There is forgiveness based on policy that Clinton added, which at the soonest only happens after 10 years of payments. Anyone on those plans would gladly accept 1% interest instead.
The government is making a killing on student loans on these current plans. The video in OP is actually surprisingly truthful and accurate regarding student loans.
Posted on 3/21/24 at 10:19 am to MSTiger33
quote:
Student loan forgiveness makes me irrationally angry. Why not drop the interest rate to 1% instead of forgiving the whole damn thing.
This is the best approach. Make it 1% or even 0.5%, but require that the principal be paid back in 30 years or less.
Posted on 3/21/24 at 10:26 am to MSTiger33
quote:
Student loan forgiveness makes me irrationally angry. Why not drop the interest rate to 1% instead of forgiving the whole damn thing.
Because that still puts some accountability on the person who took out the loan. Not as good for buying votes.
Posted on 3/21/24 at 3:38 pm to MSTiger33
quote:
Student loan forgiveness makes me irrationally angry. Why not drop the interest rate to 1% instead of forgiving the whole damn thing.
They realistically could
* cap rates at 3% (this was my rate when i paid student loans from 99-09)
* modify amortization schedules to start at 50/50 principal/interest
* apply a govt assisted 'bonus payment' directly to principal every 6 months of on-time payments
Real solutions are out there for the government to help the debtors and taxpayers. But nobody will meet in the middle. idiots.
This post was edited on 3/21/24 at 3:40 pm
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