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Message
Canceling all student loans would give $5 to rich Americans for every $1 given to poor
Posted on 4/25/19 at 11:20 am
Posted on 4/25/19 at 11:20 am
quote:
"the top 25% of American households by income hold nearly half of all student debt—and the bottom 25% holds just a tenth of it. Canceling all student loans would deliver $5 to rich Americans for every $1 given to poorer families."
Why should high earners who have loans but don’t struggle paying them off deserve any aid?
14
Posted on 4/25/19 at 11:30 am to HailHailtoMichigan!
A bunch of people in my class ( not a lawyer despite the username ) are on Income-based repayment... drawing it out for decades.... partly because it takes such a huge chunk out of their monthly income... they would rather not feel the pinch of the payments.
Partly because they hope it's reformed aka wiped out.
I went ahead and refinanced to get them over with after 10 years.
Had 21 year old me not took the max out and lived lavishly.. I would've still owed a good bit but a bunch of it was unnecessary
I kick myself for this all the time
Partly because they hope it's reformed aka wiped out.
I went ahead and refinanced to get them over with after 10 years.
Had 21 year old me not took the max out and lived lavishly.. I would've still owed a good bit but a bunch of it was unnecessary
I kick myself for this all the time
This post was edited on 4/25/19 at 11:32 am
Posted on 4/25/19 at 11:42 am to Lawyered
I keep mine in income based repayment just in case something happens and I lose my job. Once you roll off IBR, you can’t get back on it. I pay about $150/mo more than the minimum.
Posted on 4/25/19 at 11:43 am to HailHailtoMichigan!
The problem with this whole shite show is the liberals policies of "Everyone deserves...."
First it was "houses" in the 90's
The it was "College"
Then to compound the problem Obama went full retard and started putting out that "You should have to pay that money back that you borrow to get your education" "It's too hard and unfair to young people who struggle coming out of college."
Liberals are stupid when it comes to economics. Literally none of their ideas are worth a shite, and all of them cause serious financial problems down the road.
But hey, by that time they'll be long gone and our idiot voters will believe us when we blame it one the other side.
First it was "houses" in the 90's
The it was "College"
Then to compound the problem Obama went full retard and started putting out that "You should have to pay that money back that you borrow to get your education" "It's too hard and unfair to young people who struggle coming out of college."
Liberals are stupid when it comes to economics. Literally none of their ideas are worth a shite, and all of them cause serious financial problems down the road.
But hey, by that time they'll be long gone and our idiot voters will believe us when we blame it one the other side.
Posted on 4/25/19 at 11:53 am to HailHailtoMichigan!
The democrats portray themselves as the party of the people, but their policies certainly don’t reflect that.
Posted on 4/25/19 at 11:55 am to HailHailtoMichigan!
By definition, the population of people who have student loans is better off than the overall population of people who don't because the latter is substantially composed of people with no college at all.
Posted on 4/25/19 at 11:57 am to Snipe
quote:
Liberals are stupid when it comes to economics. Literally none of their ideas are worth a shite, and all of them cause serious financial problems down the road.
But hey, by that time they'll be long gone and our idiot voters will believe us when we blame it one the other side.
To be fair, while there attempts dont match economic realities, we all need to be completely honest (gen X, millennials, baby boomer,etc) about the marketplace.
I'm the era that Boomers were coming up, degrees held more value because of scarcity. The less marketable degrees (psychology, liberal arts, etc.) Were still able to handle good jobs due to the innate value of a scarce asset.
We blame government for proliferation of degrees. However you must remember that many veterans loved the GI Bill.
And we are living in a world where more technical education is needed. I think the system needs to be reformed to support only in demand occupations with states subsidizing the professional education that they need.
Posted on 4/25/19 at 12:23 pm to HailHailtoMichigan!
Still paying off my wife’s loans. About 6-7 years into the current set of payments and we likely have another 10 left to go.
And this is for regular repayments. I got tired of fricking around with IBR because it requires you to recertify every year to qualify for the reduced rate. The difference in rates (Maybe $20-30/mo), while not chump change, weren’t worth the headache of dealing with the Feds every year to keep a lower rate.
And this is for regular repayments. I got tired of fricking around with IBR because it requires you to recertify every year to qualify for the reduced rate. The difference in rates (Maybe $20-30/mo), while not chump change, weren’t worth the headache of dealing with the Feds every year to keep a lower rate.
Posted on 4/25/19 at 12:24 pm to HailHailtoMichigan!
yeah, but the richer bankers would get screwed
Posted on 4/25/19 at 12:30 pm to Lawyered
quote:It will be wiped out in 20-25 years either way...If you do not defer or default on payments the remaining loan amount after this period is forgiven
A bunch of people in my class ( not a lawyer despite the username ) are on Income-based repayment... drawing it out for decades.... partly because it takes such a huge chunk out of their monthly income... they would rather not feel the pinch of the payments.
Partly because they hope it's reformed aka wiped out.
Most will never end up paying off their IBR loans
This post was edited on 4/25/19 at 12:32 pm
Posted on 4/25/19 at 12:32 pm to HailHailtoMichigan!
Either way, they aren’t going to be paid.
Posted on 4/25/19 at 12:34 pm to xiv
And because of that they should never have federalize it. Let private people take the risk, not tax payers
Posted on 4/25/19 at 12:35 pm to volod
quote:
I'm the era that Boomers were coming up, degrees held more value because of scarcity. The less marketable degrees (psychology, liberal arts, etc.) Were still able to handle good jobs due to the innate value of a scarce asset.
I'm curious, have you ever heard of the 1970's?
Posted on 4/25/19 at 12:39 pm to HailHailtoMichigan!
Just more typical leftist propaganda where they run on ideas and words, not actual consequences and probable effects.
Posted on 4/25/19 at 12:45 pm to volod
quote:
I think the system needs to be reformed to support only in demand occupations with states subsidizing the professional education that they need.
THIS
Posted on 4/25/19 at 12:47 pm to teke184
quote:
And this is for regular repayments. I got tired of fricking around with IBR because it requires you to recertify every year to qualify for the reduced rate. The difference in rates (Maybe $20-30/mo), while not chump change, weren’t worth the headache of dealing with the Feds every year to keep a lower rate.
It takes 5 minutes online
Posted on 4/25/19 at 12:47 pm to HailHailtoMichigan!
Is this a bad thing? The top 25% can revitalize the economy a lot quicker than the remaining 75%.
Also I have issues with the top 25% being called "rich".
Also I have issues with the top 25% being called "rich".
Posted on 4/25/19 at 12:56 pm to Teddy Ruxpin
Do you have all your wife’s shite memorized so that you can get into her account? I don’t.
Just logging in is a goddamn adventure.
Just logging in is a goddamn adventure.
Posted on 4/25/19 at 1:01 pm to HailHailtoMichigan!
The only way I'd even consider paying for a kid's education - if you don't graduate in X number of years in your curriculum or if you drop out, then you don't get a dime. No money will be paid in advance. Just start an account, run up your bill and then I'll pay if off on the end.
I want some bang for my buck.
I want some bang for my buck.
Posted on 4/25/19 at 1:03 pm to teke184
Ya, I do actually
Login info is saved.
Login info is saved.
This post was edited on 4/25/19 at 1:04 pm
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