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Started By
Message
re: Why are most of you so aginist student loan forgiveness?
Posted on 3/25/20 at 4:02 pm to Antonio Moss
Posted on 3/25/20 at 4:02 pm to Antonio Moss
quote:
So you want the government to lose money on student loans?
It's a government investment in people that pays off with higher earning jobs and a more productive workforce, resulting in higher tax receipts over time.
This post was edited on 3/25/20 at 4:02 pm
1
Posted on 3/25/20 at 4:03 pm to Nawlens Gator
quote:
If the GubMint pays it back, they are stealing from me.
They're already stealing it from you, we're just arguing over distribution.
Posted on 3/25/20 at 4:03 pm to DollaChoppa
quote:
And so if I didnt get student loan forgiveness, you shouldnt either!
I bought an expensive car and a house I can’t afford. Will you help me pay them off???
If not, then why should I pay for your gender studies degree?
This post was edited on 3/25/20 at 4:19 pm
Posted on 3/25/20 at 4:03 pm to Joshjrn
quote:
$400/mo. It doesn't even cover the interest. I've paid something like $35,000. I owe more today than I did when I graduated.
Lol how do you think loans work
Posted on 3/25/20 at 4:03 pm to Antonio Moss
quote:How many other less worthy programs does the government fund and "lose" money on?
So you want the government to lose money on student loans?
Posted on 3/25/20 at 4:04 pm to bluebarracuda
quote:
They don't exactly make it very clear to 17 yr olds not even done with high school yet with very little knowledge of loans
At 17 years old you sure as hell should know about loans and compounding interest. You should also know the value of a dollar. Sorry, but I do not have any sympathy for this.
Posted on 3/25/20 at 4:04 pm to RocketPower
To OP. frick you. I paid my loans back and didn't beg for someone to pay them back for me like a little bitch.
Posted on 3/25/20 at 4:04 pm to JohnnyKilroy
quote:
You already said that. Why not though?
First, there are a lot worthy causes that should get pretax relief compared to student loans - like private school tuition payments for dependents. When you grant pretax relief, you reduce government revenue which either leads to taxes in another area or more government debt. So being extremely selective where pretax relief is granted is a wise course of action.
Second, from an economics perspective, government loans have saturated the higher education market driving tuition prices through the roof. Allowing pretax payments only magnifies this problem.
Third, affordable student loans have devalued undergraduate degrees which have negatively affected employment. Many jobs whose skill sets do not require college education still require an undergraduate degree simply because so many people already have them.
quote:
I assume you would like to jettison the mortgage interest deduction, the student loan interest deduction as well as the IRA reductions too.
No, because interest relief is fairly even across the board.
Now, I would not be opposed to it in a grander tax reform package but I would oppose on its own.
Posted on 3/25/20 at 4:05 pm to RocketPower
FUK you Ricket you and yours are what's wrong with the planet. You punks have nothing to believe in except 'whats in it for me' You and your ilk will bring down this great country in a matter of 25 years when its your turn to shoulder the load. Thankfully I'll be long gone and not able to see the dire results.
Posted on 3/25/20 at 4:06 pm to RocketPower
quote:
Message
Why are most of you so aginist student loan forgiveness
You know, I am tempted to say you deserve a refund. If you graduated from college and you are still this dumb, you got ripped off anyway.
Posted on 3/25/20 at 4:06 pm to RocketPower
Not sure I'm for complete forgiveness of student loans but think they are a big drag on the economy and no private entities should be making big profits from them.
Posted on 3/25/20 at 4:06 pm to mmmmmbeeer
quote:
It's a government investment in people that pays off with higher earning jobs and a more productive workforce, resulting in higher tax receipts over time.
Is there any proof that increased undergraduate degrees increase government revenue?
Posted on 3/25/20 at 4:07 pm to Nawlens Gator
quote:I don't know why you're directing this at me? I said earlier that I paid my wife's graduate schooling in cash. I also paid my own in cash. I just don't think profiting off of people who can't afford to pay for their education in cash is a "righteous" way to make money.
Loan forgiveness is a myth. There is no such thing. Someone loaned you the money and you agreed to pay it back to them with interest.
If you don't pay it back, you are stealing. If the GubMint pays it back, they are stealing from me.
Posted on 3/25/20 at 4:07 pm to JohnnyKilroy
quote:
Damn baw where'd you go to school?
LSU Law. First generation college, much less law school. Tops and scholarship at LSU for undergrad, so made it out of that unscathed. Small scholarship at LSU law. But otherwise, all on me.
By time someone takes out the loans and watches the interest accrue while they are in school, $100k is easy to reach. Then you've got about $7,000 a year just in interest before you can even touch your principle.
This post was edited on 3/25/20 at 4:11 pm
Posted on 3/25/20 at 4:09 pm to Antonio Moss
quote:Sure, look at the average salary of a person who has a degree, versus the average salary of someone who doesn't.
Is there any proof that increased undergraduate degrees increase government revenue?
Posted on 3/25/20 at 4:10 pm to Joshjrn
quote:
I pay almost $400/mo
What other bills do you have, specifically luxury items or necessities that you opted for upgrades on?
Posted on 3/25/20 at 4:10 pm to Joshjrn
quote:
LSU Law. First generation college, must less law school. Tops and scholarship at LSU for undergrad, so made it out of that unscathed. Small scholarship at LSU law. But otherwise, all on me.
By time someone takes out the loans and watches the interest accrue while they are in school, $100k is easy to reach. Then you've got about $7,000 a year just in interest before you can even touch your principle.
Almost exact same track for me. Same school and came out with around $100K Paid it off in five years.
Posted on 3/25/20 at 4:11 pm to JohnnyKilroy
quote:
What they should do is wipe out the interest for federal loans and/or allow people to pay it with pre-tax money
Not a bad idea. Another thing that is BS is that if you make over a certain income you cannot deduct student loan interest.
Another penalty for the successful
Posted on 3/25/20 at 4:12 pm to RocketPower
I haven't gone through 7 pages in this thread. Did the OP cut and run?
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