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re: Over $3 Billion in student debt forgiven in 2021, how much did you benefit?

Posted on 7/10/21 at 3:10 pm to
Posted by KillTheGophers
Member since Jan 2016
6455 posts
Posted on 7/10/21 at 3:10 pm to
I was a:

Furniture mover
Grocery store clerk
Convenience store clerk
Flower delivery
Runner for an law firm

All to get extra income to pay my tuition with substantial help from my parents.

Shame on me.
Posted by Kujo
225-911-5736
Member since Dec 2015
6026 posts
Posted on 7/10/21 at 3:11 pm to
quote:

forgave people who were ripped off by some of those bullshite schools


How were they ripped off?

quote:

Westwood: The school had campuses from coast to coast, is accused of widespread misrepresentations about the ability of students to transfer credits. This forced students who transferred to other institutions to restart their studies from scratch at a different school.


Other schools wouldn’t except the credits that they took, But they still took the classes and received education.

quote:

The Department of Education also claims that the institution misled students in its criminal justice program about the prospect of employment as police officers in Illinois upon graduation. Credits from the school were not accepted by the Chicago Police Department and other law enforcement agencies


I don’t have any other info on this, but taking POST training (California) isn’t a guarantee of a job.

quote:

students were misled about the type of instruction that would be offered. Borrowers claim that the schools failed to teach them key elements of a cosmetology program, like cutting hair… This made it difficult for the students to pass necessary state licensing tests in order to earn a living from their education.


These were just optional training programs, you still have to pass the Licensing exam. Sounds like they were going to the cosmetology program and not the barbering program. I briefly dated an aesthetician and she had to learn some cross training to qualify.

quote:

For example, the programs for a barber may include basic skills like hair washing and styling, as well as sanitation, anatomy, esthetics, and even local laws and regulation.

For cosmetologist licensing the course demands are often more extensive. In this case, you may also need to learn about nail care, facials, eyebrow grooming, and more.


The court reporting one is kind of funny. People enter the program not realizing how long it was going to take, So a majority dropped out.

quote:

Court Reporting Institute. The majority of students were never able to complete the program according to the Education Department. Only about two to six percent of students at the school’s three locations in Washington, California, and Idaho graduated, and those that did finish the program took much longer to do so than the institution claimed.


Posted by Magicmikeforlsu
Cenla
Member since Oct 2012
1771 posts
Posted on 7/10/21 at 3:11 pm to
Paid mine off the legit way. Not a damn penny offered back. I’ll just continue to pay for the others too. No big deal!!!!
Posted by tiger1014
Member since Jan 2011
12547 posts
Posted on 7/10/21 at 3:12 pm to
quote:

I paid all of mine off legitimately about 20 years ago.


What all $5k of it?
Posted by LSU Tigershark
10,000 posts
Member since Dec 2007
10548 posts
Posted on 7/10/21 at 3:14 pm to
Made my last payment in May. Only took 11.5 yrs to pay that extra mortgage payment
Posted by John_V
SELA
Member since Oct 2018
1868 posts
Posted on 7/10/21 at 3:44 pm to
My tax lady is a capitalist far right wing kinda gal and she called me an "f'n idiot" when I told her I was paying extra to capitalize on the 0% interest. She went over all the handouts and "tax credits" Biden had done so far, I hadn't sent a payment in since.
Posted by shawnlsu
Member since Nov 2011
23682 posts
Posted on 7/10/21 at 4:06 pm to
Who decided student debt was a bigger issue than medical debt?
This post was edited on 7/10/21 at 4:06 pm
Posted by TexasTiger90
Rocky Mountain High
Member since Jul 2014
3576 posts
Posted on 7/10/21 at 4:07 pm to
I make too much to ever qualify for forgiveness, public or private. Sad state of affairs when I got a degree that was actually applicable to making money and don’t get to reap the benefits of fricking up my life with a gen ed degree.
Posted by Joshjrn
Baton Rouge
Member since Dec 2008
28613 posts
Posted on 7/10/21 at 4:52 pm to
quote:

What all $5k of it?


I feel like that should be the new rule. Just like when people talk about buying their first houses decades ago, anyone who wants to talk shite about paying off their loans should include the total loan amount and the year they graduated in the post. I’ll even go through the effort of adjusting it for inflation for them
Posted by Cracker
in a box
Member since Nov 2009
18337 posts
Posted on 7/10/21 at 5:15 pm to
Haha let’s just shite on the banking industry that will work out well
Posted by liz18lsu
Naples, FL
Member since Feb 2009
17510 posts
Posted on 7/10/21 at 5:19 pm to
Is my mortgage being forgiven too?
Posted by Dave_O
Member since Apr 2018
1202 posts
Posted on 7/10/21 at 5:24 pm to
I got my Ph.D. because I knew I could make more money in the long term, even though I’d owe more money in student loans in the “short term”.
Posted by dewster
Chicago
Member since Aug 2006
25685 posts
Posted on 7/10/21 at 5:25 pm to
What’s kind of crazy is that Biden ran on forgiving student loan debt. Then it evaporated from his platform after the election.
Posted by Joshjrn
Baton Rouge
Member since Dec 2008
28613 posts
Posted on 7/10/21 at 5:35 pm to
quote:

Is my mortgage being forgiven too?


I love when people bring up mortgages. You know, the form of debt that’s been most favored by the IRS for everyone’s lives on this board. How have you enjoyed that nice, juicy mortgage interest deduction all these years, at least before Trump made it borderline obsolete with increasing the standard deduction?
This post was edited on 7/10/21 at 5:37 pm
Posted by notiger1997
Metairie
Member since May 2009
59547 posts
Posted on 7/10/21 at 5:44 pm to
Like pretty much all of this government free shite being given out, it hasn't helped me at all. Got a kid in college and way are paying and taking out loans like normal people.
Posted by liz18lsu
Naples, FL
Member since Feb 2009
17510 posts
Posted on 7/10/21 at 5:44 pm to
quote:

I love when people bring up mortgages. You know, the form of debt that’s been most favored by the IRS for everyone’s lives on this board. How have you enjoyed that nice, juicy mortgage interest deduction all these years, at least before Trump made it borderline obsolete with increasing the standard deduction?



Do you understand sarcasm?
Posted by Joshjrn
Baton Rouge
Member since Dec 2008
28613 posts
Posted on 7/10/21 at 6:00 pm to
quote:

Do you understand sarcasm?


Not on the internet, no
Posted by liz18lsu
Naples, FL
Member since Feb 2009
17510 posts
Posted on 7/10/21 at 6:07 pm to
Touché. I think anyone who has a loan should repay it, imho.
Posted by SPEEDY
2005 Tiger Smack Poster of the Year
Member since Dec 2003
84165 posts
Posted on 7/10/21 at 6:12 pm to
quote:

Marinello Schools of Beauty and the Court Reporting Institute


Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11460 posts
Posted on 7/10/21 at 6:13 pm to
Let's see here -$3.2B/150000000=$21.33

adjusting for tax bracket probably like $3.50
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