re: Biden leaning towards canceling 10K in student loan debt if u earn less than 125K

More gibs me daT

It’s all insane but a $125k threshold is truly insane. If you make over $100k you can pay your damn loans.

I’m SO tired of paying for all these entitled mf@s in this country.

Again, just mo gibs

This doesn’t solve the real problem. The gov needs to GET OUT of the education loan market entirely. Good lord is it not obvious yet.

FJB

What does this mean for case law on other loan agreements? Clearly all of them are worthless then right?

Should my mortgage also qualify for forgiveness? Let’s say my house didn’t appreciate in value like real estate mostly should…where’s my check? Lol

FJB

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What does this mean for case law on other loan agreements? Clearly all of them are worthless then right? Should my mortgage also qualify for forgiveness? Let’s say my house didn’t appreciate in value like real estate mostly should…where’s my check? Lol FJB

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Go read your mortgage agreement. Then go read a federal student loan agreement. I doubt you’ve actually read either, but I promise that if you read both, you will find very important distinctions between them.

Yea bud, and they are both obligations to pay, one is getting eviscerated because it’s politically expedient.

The government is going to spend our tax dollars no matter what. I'd rather see it benefit Americans than some country half a world away.

Edit: TLDR

Being genuinely worried about the financial ramifications of additional deficit spending to pay of debt owed to the fed government is horrible fiscal policy and will lead to inflation of currency and tuition is not butt hurt.

It’s also not butt hurt to wonder why only student loan debt is being relieved.


Too long version

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Imagine being butthurt over someone else’s life slightly improving.

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It’s not that peoples lives are slightly improving. It’s that we are massively in debt and now want to add directly to the bottom line of that amount.

I heard a scenario that’s a real one the other day and it made perfect sense.

Two twin brothers graduate high school. Both smart, but Tim got better grades while Donny loved taking small engines apart and rebuilding them. Tim chooses to attend a good, public university but doesn’t have scholarships. In order to attend he takes out $50,000 in student loans over the 4 years it took for him to graduate.

Donny apprentices under a master mechanic and in 4 years chooses to start his own business. In order to pay for his truck and tools, he takes out $50,000 in business loans.

Now, that next September the federal government grants a $10,000 entitlement check to everyone making less than $125,000 in income to help pay back student loans. Neither brother makes this amount, but both make a decent living.

Why does Tim “deserve” to have his loans reduced by $10,000 but Donny doesn’t? Why isn’t the government taking on more debt to pay off smalL business loans as opposed to student loans( not that I’d be ok with that one either)? Why is the government paying $10,000 to college graduates using taxes from people that have either A) never went to college, B) went to college and paid off their loans, or C) never took student loans out to begin with?

Also, what will this massive entitlement spending upon our deficient do to inflation (remember, we don’t have this money) and what will it due again to college tuition?

This is such a bad idea that sounds good only if you live in a progressive bubble where everyone has fed backed student loan debt and wants relief.

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Edit: TLDR

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I really don’t get why all of y’all fricking tradies crying about people going to college? Y’all literally benefit from it due to lower competition and higher salaries. Do you really want 100% of hs grads to just flood the trades and screw over everything for you because Johnny got 10k? Orrr I decide to take my college educated self and work with you and steal your coveted foreman position because I’m not a dip shvt like most uneducated laborers. I worked in a factory during the summer time in college and the HS educated foreman was constantly paranoid about losing his job to a college grad hire. Guess what?…IT happened! HEY, but Johnny got 10k though!!

All of that butthurt over 10k? Yet, you worship a president with 4 bankruptcies on his record. Do you want to go over the handouts the boomers had as well?

you’re really losing it over this. sooo much caring about what other people say/feel. take your $10k handout and be happy!

I’m getting 20k Superman

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HOly frick you're an absolute idiot.

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I am, I forgot I’m trying to explain basic economics to someone that lives off monster energy drinks and hot food from Twice Daily!