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re: One wonders what future Presidents will do if the precedent of forgiving debt
Posted on 8/25/22 at 5:42 am to fjlee90
Posted on 8/25/22 at 5:42 am to fjlee90
quote:the frick are you talking about? you think schools are charging more just for the hell of it?
Well at least we now know you lack the fundamental understanding of the situation.
Your schools cost too much because the government gives absurd amounts of money to anyone with a pulse to go to school.
no, dumdum. its because states keep cutting funding for education, and that money has to be made up somewhere so the schools raise tuition.
Ill do this as easily as I can...
from 2008 to 2019, tuition in Louisiana state schools went up 96.8% (LSU went up 155%), it went up $4,729 per student.
in that same span, state funding went down. Louisiana spends $4,340 less per student now than it did in 2008.
that clean enough for you?
funding went down $4,300.
tuition went up $4,700.
almost as if the two are connected.
the state use to pay for 76% of tuition, and students paid for 24%. that has now flipped entirely, and student's pay 76% of tuition while the state pays %24.
quote:
Well at least we now know you lack the fundamental understanding of the situation.
yeah. yeah Im the one whos lost.
3
Posted on 8/25/22 at 6:17 am to YatInTheHat
quote:
Been paying on student loans 15+ years, the balance is higher than what I borrowed and I've only paused payment during Katrina because I lost everything. Even with that, the balance was never more than a luxury car loan and yet my payments have never made a dent in the principal. So as of today, I owe over twice what I borrowed for a bachelors degree that isn't Liberal Arts or angry woman's studies.
Then you don’t understand math and someone sold you on a bad repayment plan.
Did you read the documents?
Plus, you knew you were accumulating debt during your Glory Years at school right? It did say “loan” program and talked about “debt.”
These are sad stories but not for the reasons given.
Posted on 8/25/22 at 6:19 am to BlackPanther
quote:
conservatives used to have ideas, now its all hate, you and trump hate all the same things, thats why you love him, its all about anger and revenge now, and the cruelty is always the point.
Holy hell. Delusional much?
Posted on 8/25/22 at 6:38 am to BlackPanther
Cool, so the people who worked extra and sacrificed to pay there’s back get to pay the loans back for the others who didn’t? That sounds about right for your logical thinking skills
Posted on 8/25/22 at 6:40 am to Costanza
You can remove the interest and penalties, extend the terms to reduce the monthly note.....but NEVER forgive the debt!
The message is 100% destructive to young minds.
The message is 100% destructive to young minds.
Posted on 8/25/22 at 6:45 am to BlackPanther
Only a 12 year old girl would write that emotional drivel
Posted on 8/25/22 at 6:52 am to BlackPanther
They’ve grifted millions of tax payers to pander to a relatively small group of debtors. Along the way, forsaking millions more who worked to repay their debt in full.
How is that helping “the people”.
How is that helping “the people”.
Posted on 8/25/22 at 6:57 am to BlackPanther
That would make sense if every student who owed massive amounts of student debt went to an instate school but they don’t and that debt includes housing. I will give you a prime example: my wife went to Vassar on a scholarship but still accrued 60k in debt over four years. We have the same degree. I went to an instate school and worked full time to pay off my fees each semester, graduated with no debt. She spent the next 17 years paying hers off. We make similar pay. People like you will always come up with an excuse for people’s poor decisions and blame someone else.
Posted on 8/25/22 at 7:11 am to Rip Torn
It’s called buying votes. Nothing else. I
Posted on 8/25/22 at 7:54 am to NashvilleTider
Does the lender have any moral obligations in the marketplace? Please explain to me why the borrower is the only party subject to ethics/morality issues here?
What interest rate is immoral? What age group can I target with my lending?
What interest rate is immoral? What age group can I target with my lending?
Posted on 8/25/22 at 8:00 am to Costanza
quote:
Gifting debt relief with a magic wand. My God.
Are you under the impression this is the first time? This might be the 3rd in the last 15 years.
Posted on 8/25/22 at 8:06 am to BlackPanther
quote:
The good news is that next week I will be officially be Dr. Erin Murphy and I’m presenting my doctoral project in Injury Induced Apoptosis this weekend. Finally, I will be done with school.
The bad news is my total student loan debt is listed at $280,000 and it’s definitely impacting my life.
I love your example!!! But not for the reasons that you posted it.
This is the perfect example of a seemingly intelligent person making idiotic financial decisions in running up this much in student loans for apparently a degree that won't support it. Erin chose to pursue a degree with a high price tag. She did not have to do that. She chose to do it.
She talks about not being able to buy a house. Big freaking deal.
In the late 90's, my wife and I graduated with $150,000 in student loan debt. We stayed in the same tiny townhouse as renters for 3 years, lived like we were still students, and put almost every dollar we made from our jobs over what we had be getting as student workers towards our loans and had the loans almost completely paid off. Only then did we increase our lifestyle and it was modestly.
The vast majority of student loans are around $30,000. With wise decisions and some sacrifice, these debts should be paid in 3-5 years, period.
You have chosen to be a victim. You chose to believe you are hated. You chose to believe the system is rigged against you.
What a sad story for you and for those that have bought the BS.
Posted on 8/25/22 at 8:09 am to BlackPanther
quote:
the government actually did something that seemingly helps people in the short term but sets a horrible precedent about government spending through executive action when the power of the purse was fairly explicitly left to Congress [a situation in which Rand Paul very explicitly took a stand against Trump’s attempt to find a wall in the same manner. The scenario is the same, where the money goes and if you like it is all that is different.] in a period of fairly high inflation that will have significant long-term effects probably roughly as to slightly more negative than the seemingly positive, tangible action seen here
Posted on 8/25/22 at 8:10 am to YatInTheHat
quote:
I'll die smarter than I was before.
It doesn't seem that way. More educated maybe, but smarter? Not by a long shot.
Posted on 8/25/22 at 8:13 am to BlackPanther
quote:
they're not irresponsible, theyre just trapped in our shite system of higher education in this country and they cant get out.
They did not have to go to those schools.
They did not have to take out those loans.
They agreed to take those loans out.
They agreed to pay those loans back.
If it’s anything like it was from 2006-2014, they also had to read and certify that they read all the conditions under which they did all of these actions.
Posted on 8/25/22 at 8:14 am to BlackPanther
quote:
the government actually did something to help people
It takes from plumbers to pay off the debt of lawyers (and folks who didn't graduate at all).
Posted on 8/25/22 at 8:16 am to wryder1
quote:
Did I want to do that? No, but I had to do that because I had bills to pay. Life isn’t about doing what you want to do. It is about doing what you have to do so you can eventually do what you want to do.
Posted on 8/25/22 at 8:18 am to BlackPanther
quote:
the government actually did something to help people, it's pandemonium!
The Government did no such thing. Like Nancy said, the POTUS does not have this authority. Something like this takes an act of Congress, you know, the People's chamber. That would be "The Government".
The POTUS has way too much power these days with Executive Orders, etc. The office needs to be reeled back and put in check.
This ain't no 3rd world, banana republic dictatorship.
Posted on 8/25/22 at 8:21 am to Costanza
That precedent and the one where the President’s DOJ is gonna be finding any half arse reason to put together FBI raids of whoever their strongest political rival/enemy at the time is - should be some pretty interesting times ahead. I can’t wait for the Trump administration FBI to bust into the Biden home with stormtroopers. Unfortunately for the Biden family, in that instance he’ll likely keel over dead.
Posted on 8/25/22 at 8:31 am to Costanza
quote:
One wonders what future Presidents will do if the precedent of forgiving debt
If, by some horrible twist of fate, I would ever ascend to office as our president, I would use this precedent to forgive all income taxes owed to the federal government by US citizens, then sit back and watch D.C. melt. (After which I'd prolly be JFK'd or hauled off to a detention camp in the middle of the Nevada desert.)
Thankfully for me, there's no way in hell that scenario could play out in even the most screwed up offshoot of a multiverse.
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