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

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congrats! my kids will be paying for it for the rest of their lives, even tho they have loaded 529B’s and won’t need student loans. you should shift this extra cash towards paying off that new truck you bought.

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Thanks to student loans, I have a 200k(still qualify due to 2021 Tax returns) job vs my 8 dollar a hour job at Chipotle in HS. I guess only the privileged should go to college then.

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

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You still haven’t read them, have you?

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It’s literally basic Supply and Demand

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as does this.

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I have a 200k job

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there’s no need to lie

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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.



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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It is perfectly stated.

College improves future/potential earnings.

It is laughable that this is designed to buy votes from those setup to earn the most in the future.
There couldn't be a bigger example of pandering.

First off, not a trade guy. Bachelors and masters in engineering.

Secondly, tradesmen are in short supply right now. So yes I want more people going to electrical, plumbing, HVAC, small and large engine repair, carpentry, etc…

Your derision for “tradies” is contemptible. Most, and I mean most, jobs do not need college degrees for people to be competent or even excel in.

It’s my opinion college should be for those that excel academically and that currently too many people go to college.

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All of that butthurt over 10k?

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What’s the total amount of spending the government is going to add directly to the deficit? This is also money owed to the government so it’s a doubly bad fiscal policy if you’re at all concerned about inflation, which seeing the line of work I’m in I’m down right scared of

Ahhh yes. The PPP loans that everyone called bullshite on as every business applied for them regardless of if it was needed or not? The ones rife with corruption and abuse?

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Ahhh yes. The PPP loans that everyone called bullshite on as every business applied for them regardless of if it was needed or not?

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Yep, massive scam.

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Your arguments have literally been, “Why do you care?” Tell me, what is the benefit to giving every college graduate with student loans making less than $115,000 annually a one time gift of $10,000? Does this actually help anyone?

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I personally think it 10k wasn’t enough so I can’t argue for something I disagree with. Why should the skilled labor market have such a cushion in pay and job security because kids overwhelmingly choose college over being an electrician or plumber? Just don’t go and whine about Donny being screwed over while he currently benefits from the skewed labor market.