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re: "Travel enthusiast” is grateful his student loans are forgiven
Posted on 4/14/24 at 10:22 am to Dawgfanman
Posted on 4/14/24 at 10:22 am to Dawgfanman
quote:
But the paycut (in total) was obviously less than the forgiveness amount, right? Otherwise, why do it?
Not technically. Over 10 years I'd earn another 10-15k a year working elsewhere. Which would come out to 100-150k over the 10 year frame.
Comes out to say $1000 a month extra. But after taxes, 401k contributions, insurance, etc. probably more like another $500 per month extra income.
My payment would go from $400 to $1100 to have them fully paid in 10 years.
So while I could technically earn more money over 10 years than what would be forgiven, I have more money to play with on a month to month basis going the forgiven route. Plus my schedule allows me to pick up side work in the for-profit space where I can make more anyway.
2
Posted on 4/14/24 at 10:23 am to BHTiger
quote:
Theft...it is people like you and they idiots in Washington that are going to turn the greatest nation in the history of the world into Venezuela.
We're playing with clown money, just like Venezuela before their fall.
Bailing out loan recipients only makes education cost more, not less. The difference is the taxpayer foots the bill.
Posted on 4/14/24 at 10:24 am to X123F45
quote:If you think I lack principles, you’re either ignorant or stupid.
I simply find your lack of principles disturbing.
I have no idea who you are, so I have no clue what your principles might be, but I’ll say as a categorical that someone having different principles from you doesn’t mean they lack principles.
Posted on 4/14/24 at 10:24 am to Joshjrn
It's a star wars quote. Calm down, nerd
Posted on 4/14/24 at 10:26 am to stout
quote:
Which do you think is more beneficial as a whole to society? Having a middle class of homeowners or encouraging more Government employees and giving them a $100K education to do so only to see them leave and jump to the private sector after 10 years?
Considering that the mortgage interest tax deduction is below the line, I would argue that it has very little benefit to truly middle class homeowners. As such, I would say they are both about as useful/useless as the other.
Posted on 4/14/24 at 10:27 am to Joshjrn
quote:\
Considering that the mortgage interest tax deduction is below the line, I would argue that it has very little benefit to truly middle class homeowners.
Cool, pay more taxes, I dont care.
But to equate the mortgage taxes to loan forgiveness..
This does zip to help the cost of education.This post was edited on 4/14/24 at 10:29 am
Posted on 4/14/24 at 10:29 am to Ingeniero
quote:Calling someone a nerd for not immediately recognizing a paraphrased randomly dropped in quote from a half century old space opera is… interesting
It's a star wars quote. Calm down, nerd
Posted on 4/14/24 at 10:30 am to WaydownSouth
So you're on welfare for the not poor. Nice
Posted on 4/14/24 at 10:30 am to RogerTheShrubber
quote:Roger, it’s ok to just silently bow out of discussions that are outside of your understanding or knowledge base. You don’t need to announce it
Cool, pay more taxes, I dont care. But to equate the mortgage taxes to loan forgiveness.. This does zip to help the cost of education.
Posted on 4/14/24 at 10:34 am to OlGrandad
quote:
scammers have already started. I got an email saying I was eligible for my college loan forgiveness. They just needed some additional information and gave a link to click here to go to the site .
As I never had any student loans I deleted the email
They've been at it for a long time. Before the pandemic I got a call about student loan forgiveness. Never had one so it was obvious. I said I didn't have any student debt but my husband Ben Dover did. Wasted about 5 minutes of their time
Posted on 4/14/24 at 10:36 am to Joshjrn
This whole thread could simply be summed up with “don’t hate the player, hate the game.”
Posted on 4/14/24 at 10:38 am to stout
So long as the forgiveness is taxable income (as any other forgiven loan would be), that's fine.
Posted on 4/14/24 at 10:38 am to Joshjrn
quote:
With the mortgage interest deduction, the federal government forgives money you owe to it because you paid money to a private entity for loaning you money for a mortgage. With PSFL, the federal government forgives money you owe to it because you made 120 on time payments while working in specific fields.
It's been explained multiple times it's not the same thing. Hell, you can deduct student loan interest payments too
, it's double taxation issues more than anything else.Posted on 4/14/24 at 10:38 am to BHTiger
quote:
Theft...it is people like you and they idiots in Washington that are going to turn the greatest nation in the history of the world into Venezuela.
Theft is myself declaring single and none to be withheld from each paycheck and yet when my wife and I file taxes, we still have write them a check
I've paid more taxes in the last 5 years than what will be forgiven. If the government stops stealing my money to distribute to boomers social security and medicare funds as well as Ukraine, I'd be happy to pay them in full.
Posted on 4/14/24 at 10:39 am to Bayou_Tiger_225
quote:
This whole thread could simply be summed up with “don’t hate the player, hate the game.”
Its universally accepted that this will make the cost of education more expensive, which will cause more angst, more forgiveness...and on and on.
Posted on 4/14/24 at 10:40 am to stout
The 10 year rule for public service was put in place decades ago. His comment about Biden and Trump is just dumb. I don’t understand how people can be ignorant to how their own debt works.
Posted on 4/14/24 at 10:41 am to Deactived
quote:
So you're on welfare for the not poor. Nice
Large corporations have been sucking on the welfare teet of congress forever.
Insurance companies lineup to gang frick the Louisiana legislature in the arse for their cheese.
Posted on 4/14/24 at 10:44 am to BBONDS25
quote:
The 10 year rule for public service was put in place decades ago. His comment about Biden and Trump is just dumb. I don’t understand how people can be ignorant to how their own debt works.
Don’t recall specifically, but I think there was an issue where certain people who seemingly qualified for public service loan forgiveness weren’t getting their loans forgiven. Biden forgave those loans. I suspect that’s what happening with this guy.
Posted on 4/14/24 at 10:45 am to Demshoes
quote:
Large corporations have been sucking on the welfare teet of congress forever.
Its hilarious the people on here take issue with PSLF forgiveness which mostly benefits healthcare workers. But then they don't have a problem with government bailing out major corporations or subsidizing farmers
Posted on 4/14/24 at 10:49 am to WaydownSouth
quote:
But then they don't have a problem with government bailing out major corporations or subsidizing farmers
Your justifications for your situation are weird as hell.
Who's to say people don't have problems with bailouts?
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