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Started By
Message
re: Student Loan Extended (Again)!
Posted on 4/7/22 at 6:58 am to John_V
Posted on 4/7/22 at 6:58 am to John_V
quote:
Same people who took. advantage of PPP "Loans" are the same people bashing Student Loan Forgiveness lol
PPP loans we’re always convertible upon disbursement and the only people that have to pay them back are the ones that didnt follow the contractual parameters.
It’s the other way around for student loans. Regardless if it is good policy or not, comparing the two is fricking stupid.
1
Posted on 4/7/22 at 7:07 am to AMS
quote:
Those folks and people who got TOPS, but are against this are top tier level hypocrisy.
Wait what? TOPS is a scholarship that should have minimized or eliminated the need for a loan. The award is the same for everyone that qualified.
Am I misreading? Or is this another stupid arse attempt to justify people not paying their bills?
Posted on 4/7/22 at 7:14 am to BOZ4LSU
Reality of the situation
A wave of student loan defaults could trigger a financial issue, not 2008 level, but still a real possibility.
I would be for a certain level of student loan forgiveness if the situations that caused the high levels in the first place are addressed.
Maybe the student has to come up with a cash “deductible”, like an 80/20 thing. The govt could offer more scholarship opportunities than the military.
A wave of student loan defaults could trigger a financial issue, not 2008 level, but still a real possibility.
I would be for a certain level of student loan forgiveness if the situations that caused the high levels in the first place are addressed.
Maybe the student has to come up with a cash “deductible”, like an 80/20 thing. The govt could offer more scholarship opportunities than the military.
Posted on 4/7/22 at 7:17 am to OceanMan
quote:
TOPS is a scholarship that should have minimized or eliminated the need for a loan. The award is the same for everyone that qualified.
TOPS alone usually does not come close to paying tuition and fees.
Posted on 4/7/22 at 7:18 am to alajones
quote:
I would be for a certain level of student loan forgiveness if the situations that caused the high levels in the first place are addressed.
That would be the government backing all student loans.
Stop that and this problem goes away
Posted on 4/7/22 at 7:22 am to TheAlmightySmash
quote:
My only gripe with student loan debt is that charging 3-4% seems predatory. If the goal is to educate the masses they should push to slash the interest rates
There would be a hell of a lot less pushback if rather than forgiving loans, reduced rates to the minimum or zero and allowed refinancing to stretch payments based on current income.
The issue isn’t so much that people want others to be saddled with debt they foolishly took out as an 18 year old, the issue is that those same people either avoided taking loans or worked to pay them off already, both of which required sacrifice that those that still have a balance didn’t make. There is also a very huge discrepancy with career choices made which could affect current income levels.
Posted on 4/7/22 at 7:29 am to alajones
quote:
TOPS alone usually does not come close to paying tuition and fees.
Well that’s exactly what it paid for while I was in school
And regardless of how much it covered, likening taking the tops scholarship to federal student loan forgiveness is stupid, even more so if it doesn’t cover full tuition.
Posted on 4/7/22 at 8:07 am to Bawwitdabaw
quote:
That would be the government backing all student loans.
Stop that and this problem goes away
I don't think that is realistic.
There is a good role for government backed student loans, it needs more limitations and some actual initial investment of the student. That would force young adults to be more disciplined when it comes to student loans.
Posted on 4/7/22 at 8:48 am to alajones
Someone suggested getting the schools involved with the loans which I thought was interesting. Makes them more accountable for the rising tuition costs, which is really the main problem in the first place. I’m not sure how it would play out though, I haven’t given it enough thought. I guess university sponsored scholarships are kind of similar in effect, just a free loan if you will.
Why are tuition and other school fees so much higher than they used to be? We can all see the trend that they’ve shot up ridiculously over time but does anyone actually have a concrete answer as to why?
Why are tuition and other school fees so much higher than they used to be? We can all see the trend that they’ve shot up ridiculously over time but does anyone actually have a concrete answer as to why?
Posted on 4/7/22 at 8:52 am to alajones
quote:
I would be for a certain level of student loan forgiveness if the situations that caused the high levels in the first place are addressed.
I would be for these deadbeats paying their fricking bills.
Posted on 4/7/22 at 8:55 am to efrad
School should be free. Society should want as many educated people as possible
Posted on 4/7/22 at 9:02 am to Byron Bojangles III
quote:
School should be free. Society should want as many educated people as possible
It is not free. The taxpayers are paying for it.
Posted on 4/7/22 at 9:02 am to Byron Bojangles III
quote:
School should be free
frick off.
quote:
Society should want as many indoctrinated people as possible
FIFY
Posted on 4/7/22 at 9:12 am to OceanMan
quote:
PPP loans we’re always convertible upon disbursement and the only people that have to pay them back are the ones that didnt follow the contractual parameters.
It’s the other way around for student loans. Regardless if it is good policy or not, comparing the two is fricking stupid.
That distinction is by arbitrary government fiat, and this discussion is regarding government arbitrarily changing the parameters by fiat, making your distinction devoid of difference.
If people are asking for their student loans to get the same treatment as PPP loans, I fail to see how that would make them more of a deadbeat than people who took advantage of PPP loans to begin with.
This post was edited on 4/7/22 at 9:13 am
Posted on 4/7/22 at 9:46 am to kung fu kenny
quote:It's rules of economics. There has been a massive money infusion into colleges with student loans over the last three decades. More money equals rising tuition.
Why are tuition and other school fees so much higher than they used to be? We can all see the trend that they’ve shot up ridiculously over time but does anyone actually have a concrete answer as to why?
Plus, colleges are much more bloated with non-teaching faculty than ever before.
More non-faculty working at colleges than faculty
Posted on 4/7/22 at 9:59 am to Joshjrn
quote:
That distinction is by arbitrary government fiat, and this discussion is regarding government arbitrarily changing the parameters by fiat, making your distinction devoid of difference.
The distinction is quite different, if “changing parameters” is the discussion at hand, why is the PPP loan even introduced into the discussion? The distinction is before and after a contract is signed, in a legal sense that is not an arbitrary distinction at all.
quote:
If people are asking for their student loans to get the same treatment as PPP loans, I fail to see how that would make them more of a deadbeat than people who took advantage of PPP loans to begin with.
Being “more of a deadbeat” is only relevant if you believe these two funding sources are at all comparable, which they are not. PPP borrowers don’t really belong in this discussion.
From a perspective of winners and losers of a government grant/forgivable loan, the roles are indeed flipped. In student loans the winners would be the ones that did not fulfill the contract terms, while for PPP it would be those that did fulfill the terms. Further, there is work that must be performed to have the PPP debt forgiven, an application process that does not provide compulsory forgiveness.
The contractual government incentive for student loans is a subsidized interest rate, whereas PPP is full forgiveness under defined parameters. Regardless of anyone’s opinion on the use of government money and whether either program is good policy, conflating the groups that were forgiven under these programs as the “deadbeats” is ignoring the criticism of student loan forgiveness, which is not fulfilling the terms of a contract. Not performing under a contract could accurately describe one as a deadbeat. If parameters are changed, the entire population of borrowers under this program would be on unequal footing. The parameters of PPP forgiveness have not materially changed and the borrowers remain equal in terms of what is forgiven and what isn’t.
A more accurate comparison would be if the EIDL loans were given forgiveness. They were always meant to be loans and potential borrowers acted accordingly.
This post was edited on 4/7/22 at 10:04 am
Posted on 4/7/22 at 10:02 am to Rize
quote:Eat my dick, if they want to suspend interest and let me pay what I want for however long I want, that's on them.
Pay y’all’s fricking bills! You broke fricks.
Posted on 4/7/22 at 10:15 am to TDTOM
quote:
TDTOM
quote:I won't exchange information on tax brackets simply because you're projecting, but just know we are doing just fine. However, I appreciate your concern and hope you have a great rest of your Thursday
Bum
This post was edited on 4/7/22 at 10:16 am
Posted on 4/7/22 at 10:16 am to TexasTiger90
quote:
Eat my dick, if they want to suspend interest and let me pay what I want for however long I want, that's on them.
Them is us. When the government gives money away, they borrow from future effort of American taxpayers. You may be fine with taking the handout, but understanding that you will be transferring your debt to others should be part of that rationalization, and they have every right to criticize the ability for you to make that decision.
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