- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Is "forgiving college debt"
Posted on 4/14/22 at 3:47 pm
Posted on 4/14/22 at 3:47 pm
Pretty much the same as printing trillions of new dollars?
12
Posted on 4/14/22 at 3:51 pm to RoosterCogburn585
Jug Ears took it over with plans of doing this.
Posted on 4/14/22 at 3:52 pm to RoosterCogburn585
Yes because “forgiving” means paying the financial institutions with your tax money
Posted on 4/14/22 at 3:55 pm to RoosterCogburn585
Does forgiving college debt include a bar tab at Fred’s?
Asking for a friend.
Asking for a friend.
This post was edited on 4/14/22 at 4:04 pm
Posted on 4/14/22 at 3:55 pm to ShoeBang
See, that's the part that I don't follow. The main financial institution that is owed is the federal government.
Posted on 4/14/22 at 3:57 pm to RoosterCogburn585
quote:
Pretty much the same as printing trillions of new dollars?
Yes. The financial institutions aren't going to just forgo their contractual rights to the money. The government is going to have to pay them off.
Posted on 4/14/22 at 3:58 pm to RoosterCogburn585
quote:
See, that's the part that I don't follow. The main financial institution that is owed is the federal government.
Making debt “disappear” is impossible without inflation. The government subsidized / backed loans but if I’m not mistaken financial institutions are technically the ones holding the bag
Posted on 4/14/22 at 4:00 pm to RoosterCogburn585
quote:
Pretty much the same as printing trillions of new dollars?
I’ve been waiting to hear a detailed explanation why forgiving student loan debt is any better for the economy than forgiving mortgage debt? Auto loans? Medical bills?
Posted on 4/14/22 at 4:02 pm to ShoeBang
There are, but they're somehow tied to the dept of edu. On credit reports, the creditor shows up as the Dept of Ed. and it is a Fed loan. So I guess they would be printing money to pay the Dept of Ed. Doesn't make sense in a vacuum, but you know if they decide to do this, they will also add in a few hundred billion for legislators to pocket somehow.
Posted on 4/14/22 at 4:02 pm to Bass Tiger
I think everyone should just be zeroed out on all their debt and be given a million dollars in their bank account! Thats an election platform sure to win.
Posted on 4/14/22 at 4:02 pm to RoosterCogburn585
Can I get the money back with interest on the college loans I dutifully paid off?
This post was edited on 4/14/22 at 4:03 pm
Posted on 4/14/22 at 4:07 pm to RoosterCogburn585
quote:
I think everyone should just be zeroed out on all their debt and be given a million dollars in their bank account! Thats an election platform sure to win.
Agreed. I too am looking forward to buying a $250,000 Camry for my next car.
Posted on 4/14/22 at 5:22 pm to RoosterCogburn585
This is all crazy. So what is going to go to college debt now? Are the kids now going to have to pay their debt or will it be forgiven at a later date?
This is crazy.
This is crazy.
Posted on 4/14/22 at 5:43 pm to RoosterCogburn585
It's a clever way of making those who did not go to college pay for those who did.
And that includes the left, but don't expect them to realize it.
And that includes the left, but don't expect them to realize it.
Posted on 4/14/22 at 5:46 pm to Abraham H Parnassis
Replaces 40 acres and a mule. Each should be forced to sign a letter forgiving the US of all future payments. Child Care, Food Stamps, Tax credits ....Reparations.....
Posted on 4/14/22 at 5:53 pm to RoosterCogburn585
quote:no this is not correct. they are backed by the fed government but fed govt does not own or make these loans.
The main financial institution that is owed is the federal government.
Posted on 4/14/22 at 6:15 pm to ShoeBang
quote:
Making debt “disappear” is impossible without inflation. The government subsidized / backed loans but if I’m not mistaken financial institutions are technically the ones holding the bag
The Dept of Ed holds 92% of student loans. Banks hold the other 8%.
Previous to 2010, banks held a lot of the student debt with a federal guarantee. Not the case anymore because of Obama.
Posted on 4/14/22 at 6:27 pm to RoosterCogburn585
I was told by someone that works in the student loan industry that one-third of US assets is student loans debt. Imagine what forgiving it would do to the economy. BTW, I worked part-time jobs to pay for college. No grants, no loans, no parental financial assistance.
Posted on 4/14/22 at 6:35 pm to arcalades
quote:
no this is not correct. they are backed by the fed government but fed govt does not own or make these loans.
that is not quite accurate. there are direct and indirect loans. direct loans are directly from the gov, with the department of education as your lender.
you are referring to indirect loans which stopped being granted in 2010. any federal loan since july 2010 has been a direct loan.
This post was edited on 4/14/22 at 6:37 pm
Posted on 4/14/22 at 6:37 pm to jctiger73
quote:
I was told by someone that works in the student loan industry that one-third of US assets is student loans debt. Imagine what forgiving it would do to the economy.
It wouldn't be good.
Who is going to pay the $950 billion price tag if Schumer gets 50k per student?
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News