re: 73% of Student Loan Forgiveness Recipients Plan to Spend More on Dining Out, Travel

Of course they would. Because it's just another poor decision in the long line of poor decisions that led them to be under the "crushing student loan debt."

When my wife and I got out of grad school we had a tremendous amount of student loan debt. We had good jobs, but certainly nothing close to making 6 figure salaries a year. We also had no children. After a year we bought our first home. Certainly we could have received a loan for a much bigger/higher priced loan. However, we didn't want to overburden ourselves with a higher level of unnecessary debt than we already had. Fortunately we progressed in our careers and our salaries increased. We easily could have increased our standard of living along with it and splurged. Instead, we used that extra money to throw at the student loan debt to get it paid ASAP.

Our family grew, but remained in that starter home while many of our peers, who had lower household incomes, bought bigger and better homes, cars, vacations, etc. Many who had equal student loans. There was no jealousy on our part. We knew we wanted to pay off the loans first, so we did what we had to do before increasing the expense of our lifestyle.

The majority of the deadbeats who are in line to get debt "forgiveness" are the ones who weren't planning to pay them off in the first place. They aren't really sacrificing anything with student loan debt. They are just going to shift that money from one poor decision to another and soon end up in another form of debt (likely credit card or a ridiculous car note or mortgage).

I know it sounds elitist to say, but most "poor" people in the US are such because they are terrible decision makers. I had a former employee who was constantly getting kicked out of apartments and having her utilities turned off because she wouldn't pay her bills. One year she did a really great job on a profitable project, so we gave her a nice mid-year bonus (that no one else in the office got) as a sign of gratitude. That extra money could have helped pay off some outstanding debt, or set her up to not have to worry about paying her monthly rent for a while, or any number of responsible uses. Instead, she thought a better use of the funds would be to take several members of her extended family out to a large dinner at an expensive steakhouse and buy new clothes. The money was gone in a week. Predictably, two months later she was whining and crying about how she needed more money because her cable was shut off and she was about to be evicted from her apartment. She was a brokedick walking around with a Luis Vutton purse who couldn't pay her rent at dumpy apartment.

and we thought welfare recipients getting cell phones was insane..........yet here are!

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So if they aren’t paying the government the money in loans and they spend it at a local restaurant, they aren’t helping the economy?

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If they're poor enough to have their loans forgiven maybe they should be cooking at home and not taking vacations on the rest of us.

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Yep. I’m not paying government loans on those though

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So help me here.. honestly.. I don't understand.. Why is this loan agreement you signed any different than those others?

I took out government parent loans for my kids to attend college, I paid one off 40K and will pay the other off 30K. You think I don't have an obligation to pay those loans back?

When do us people that deserve free shite get free shite?

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"Don't worry, we can maintain our lifestyle by running up our credit cards while we wait this out. What's the worst that could happen?"

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A government sponsored credit card bailout program.

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A government sponsored credit card bailout program.

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If things get bad enough that a lot of people begin just walking the hell away from their credit card debt, Visa, MasterCard, Discover, etc are going to go begging to the federal government for a bailout and they would likely get it.

I feel like an idiot for working and paying for college as I took classes.

I got my advanced work done at night while working 45-50 hours a week.

At least my degrees allow me to be productive and earn a good salary - rather than being a Starbucks employee.

My son’s ex-GF ran up $40,000-$50,000 student loan debt to get a useless social services degree at FSU and an online masters degree. She’d blow her loans on clothes, tattoos, and partying, and would be asking roommates for money within days of receiving her loans.

Joe should make these collegiate recidivists give an accounting for how the loan money was spent before forgiving the loans.

Well, they spent the loan on partying, so...