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Message
re: Elizabeth Warren Introduces Bill to Cancel $640 Billion in Student Loan Debt
Posted on 7/24/19 at 12:18 pm to Taxing Authority
Posted on 7/24/19 at 12:18 pm to Taxing Authority
No matter how much you virtue signal about this, the money is gone, it isn’t coming back, and who you feel is the bad guy just isn’t important.
It’s pretty much undeniable that some level of loan forgiveness would produce a better result than the status quo, so it’s going to happen at some point.
It’s pretty much undeniable that some level of loan forgiveness would produce a better result than the status quo, so it’s going to happen at some point.
3
Posted on 7/24/19 at 12:20 pm to bmy
quote:These same parents and grandparents will also collect social security off the backs of younger generations who are expected to pay into a pool that will disappear by the time today’s younger are older, so anybody who’s up there in years who wants to lecture people about this just doesn’t have an opinion worth hearing.
It's a problem that was created by the parents and grandparents of the people struggling.. so I see no problem with requiring them to take on a share of the burden as a consequence of their inability to govern.
Posted on 7/24/19 at 12:22 pm to xiv
quote:
No matter how much you virtue signal
quote:
the money is gone, it isn’t coming back, and who you feel is the bad guy just isn’t important.
So... personal resposniblity for actions isn't important? Ok... how much money you got? Please give me a loan!! quote:Show us the math. Be sure to include lost opportunity cost for the debt holders. Let's see it.
It’s pretty much undeniable that some level of loan forgiveness would produce a better result than the status quo
Posted on 7/24/19 at 12:24 pm to xiv
quote:Except it was the government that overspent on payouts and borrowing from it to cover debt. Not the parents and grandparents. You beef is with government. Well, it would be if you were honest.
These same parents and grandparents will also collect social security off the backs of younger generations who are expected to pay into a pool that will disappear by the time today’s younger are older
Posted on 7/24/19 at 12:25 pm to Taxing Authority
quote:Your melt doesn’t make the money appear. It is gone. You can’t have it.
So... personal resposniblity for actions isn't important? Ok... how much money you got? Please give me a loan!!
You’re very interested in the perceived irresponsibility of the borrower but uninterested in the irresponsible speculation of the lender.
This post was edited on 7/24/19 at 12:30 pm
Posted on 7/24/19 at 12:27 pm to xiv
This a convoluted and unfair approach to the problem. Make student loan indebtedness dischargeable in bankruptcy after a 10 year waiting period. Also, get the government out of the student loan business. Let the market take care of the lending process and charge appropriate interest rates to applicable majors.
Posted on 7/24/19 at 12:41 pm to xiv
quote:
It’s pretty much undeniable that some level of loan forgiveness would produce a better result than the status quo, so it’s going to happen at some point.
You are such a Liberal.
You always deny you are , but only a Liberal would want taxpayer money to be stolen and be used to bail out idiots.
Grow a set and admit you are Liberal scum !
Posted on 7/24/19 at 12:56 pm to the808bass
quote:
If they don’t have a parent with any financial acumen at all, I somewhat agree with you. But the answer isn’t forgiving debt they signed up for and about which they were given education before committing to the loan
I think its part of the answer. By itself? Terrible idea. Reform is badly needed. I've been paying on my loans for 6-7 years and my loans will be forgiven in a few years for civil service so I don't really benefit from this.
Companies handling the loans are deceptive as hell.. for example, I found out 3 years after I graduated that because I deferred payments for ~6-9 months during my job search, how capitalization is calculated, and that interest was being paid before principle, my 'income based repayment plan' resulted in a much larger balance than when i graduated.. despite paying what felt like a large payment monthly.
I chose the plan at the recommendation of my loan servicer. That's fricked up.
This post was edited on 7/24/19 at 12:58 pm
Posted on 7/24/19 at 12:58 pm to indianswim
Well its like the immigration debate. People who did the right thing are pissed that they're encouraging people to enter the country illegally.
Posted on 7/24/19 at 1:03 pm to willymeaux
I would agree with this proposal with the following caveats:
1. Gov. gets out of offering student loans permanently.
2. The borrowers are taxed on the forgiven balance as if it were income
3. Those who paid off their loans within the last five years prior to the legislation are fully reimbursed (minus taxes).
Since none of those would ever be considered (except for the taxed as income part), frick this shite.
1. Gov. gets out of offering student loans permanently.
2. The borrowers are taxed on the forgiven balance as if it were income
3. Those who paid off their loans within the last five years prior to the legislation are fully reimbursed (minus taxes).
Since none of those would ever be considered (except for the taxed as income part), frick this shite.
Posted on 7/24/19 at 1:13 pm to airlinehwypanhandler
quote:
So what if I make $101k in San Francisco with $50k in student debt? Do I ask my boss for a $1,001 decrease in annual pay?
Seems like a solid investment!! Pay in $1001.00 and gwet a return of 50K
Posted on 7/24/19 at 1:28 pm to Taxing Authority
quote:Moar virtue signaling. Your goal seems to be to show everybody that you're better at pointing the finger and blaming people with the current problem. None of your feelings about this matter. Nobody cares how mad you are at the borrowers; nobody cares that you think you're more personally responsible than them (congratulations--you are our rock).
Except it was the government that overspent on payouts and borrowing from it to cover debt. Not the parents and grandparents. You beef is with government. Well, it would be if you were honest.
The money is gone, and it is not coming back. Now what? Do you want people greasing the wheels of a viable economy, or do you want serfs?
Posted on 7/24/19 at 1:30 pm to xiv
quote:
Do you want people greasing the wheels of a viable economy, or do you want serfs?
so it's one or the other. nothing in between.
cool.
Posted on 7/24/19 at 1:33 pm to Bulldogblitz
quote:Nah
so it's one or the other. nothing in between.
Posted on 7/24/19 at 2:23 pm to bmy
quote:
Companies handling the loans are deceptive as hell.. for example, I found out 3 years after I graduated that because I deferred payments for ~6-9 months during my job search, how capitalization is calculated, and that interest was being paid before principle, my 'income based repayment plan' resulted in a much larger balance than when i graduated.. despite paying what felt like a large payment monthly.
It’s embarrassing that you admitted this level of financial illiteracy in public.
Posted on 7/24/19 at 2:52 pm to xiv
quote:And you dodged he opportunity to back up your position.
Your melt doesn’t make the money appear. It is gone. You can’t have it.
quote:
You’re very interested in the perceived irresponsibility of the borrower but uninterested in the irresponsible speculation of the lender.
and who would that be? Do you have any idea how these loans work? Posted on 7/24/19 at 2:54 pm to bmy
quote:FIFY.
I chose the plan at the recommendation of my loan servicer. *I* fricked up.
If you didn’t understand what you were doing, but did it anyway, how is it someone else’s burden to relieve you of that recklessness?
This post was edited on 7/24/19 at 3:00 pm
Posted on 7/24/19 at 2:56 pm to the808bass
quote:
It’s embarrassing that you admitted this level of financial illiteracy in public.
Typical.
It’s everybody’s fault but his that he was too stupid to read the fine print before signing on the dotted line.
Posted on 7/24/19 at 2:57 pm to xiv
quote:
Moar virtue signaling.
quote:Nah. It’s simple root cause analysis.
Your goal seems to be to show everybody that you're better at pointing the finger and blaming people with the current problem.
quote:You’re the one arguing “feelings”. I gave you the chance to show numbers and objective data. You’ve dodged each time. I’m open to any ideas you’d like to put forth and rationally support.
None of your feelings about this matter.
quote:You keep saying this as if it’s true. Do you even NPV, baw?
The money is gone, and it is not coming back.
Posted on 7/24/19 at 2:57 pm to bmy
quote:
I found out 3 years after I graduated that because I deferred payments for ~6-9 months during my job search, how capitalization is calculated, and that interest was being paid before principle, my 'income based repayment plan' resulted in a much larger balance than when i graduated.. despite paying what felt like a large payment monthly.
I'm an engineer and despise looking at financial calcs of any sort. however, first out of school, I lined up the 3 student loans I had and ran the pay tables out on them, then figured out what I really needed to pay on them to do anything with my life. decided the snowball was the route to take. also did similar with the mortgage.
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