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Message
re: Trump proposes end to st loan forgiveness
Posted on 2/11/20 at 4:32 pm to Usafgiles
Posted on 2/11/20 at 4:32 pm to Usafgiles
quote:
If I leave Law School with 150k in debt why would I choose to make 60k as a prosecutor over something much more lucrative if not for this program? What you end up with is the bottom of every class going into public service. If that's what you want to see, then sure support the elimination of this program.
This is a very good point. While I am not in favor of student debt forgiveness, I can see the benefit of it in these terms and could be swayed to supporting it.
0
Posted on 2/11/20 at 4:33 pm to IrishTiger89
Define loan and get back to me...
Posted on 2/11/20 at 4:54 pm to IrishTiger89
I don't think many people realize that if you do get your loans forgiven, that forgiven amount is then considered income and you have to pay income taxes on that amount in the year it's forgiven.
I know many doctors that are pursuing PSLF thinking it's a get out of jail free card... not realizing the giant tax bill thats coming their way.
Financial illiteracy amongst the educated is more pervasive than you might think.
I know many doctors that are pursuing PSLF thinking it's a get out of jail free card... not realizing the giant tax bill thats coming their way.
Financial illiteracy amongst the educated is more pervasive than you might think.
Posted on 2/11/20 at 6:37 pm to lilsnappa
quote:
I know many doctors that are pursuing PSLF thinking it's a get out of jail free card... not realizing the giant tax bill thats coming their way.
There is no tax bill after PSLF. Only for IBR, PAYE, REPAYE, etc.
quote:
Financial illiteracy amongst the educated is more pervasive than you might think.
True
Posted on 2/11/20 at 8:43 pm to Usafgiles
quote:
Last attempt to explain this. If I leave Law School with 150k in debt why would I choose to make 60k as a prosecutor over something much more lucrative if not for this program?
So your logic is... allow debt forgiveness or people with advanced degrees will go out in the private sector and make all they can to pay their debts?
Interesting... so many questions...
How is the desired outcomes managed or determined?
Is it on the honors system?
I thought attorneys in the public sector were pretty crappy based on what you outlined. How is this different?
Posted on 2/11/20 at 8:47 pm to ShermanTxTiger
Do you think we should end the GI bill?
Posted on 2/12/20 at 6:34 am to IrishTiger89
quote:
Do you think we should end the GI bill?
I do not... It is a benefit that is part of the package offered by the military for service.
My daughter was offered large college scholarships as a teacher if she agreed to give (certain less desirable school districts) 5 years of service when she graduated. We opted to have her decline that. We can make the $ work on our end and allow her to work and live where she wants. It was tempting.... $30,000.00 for a 5 year agreement to employment.
In short... If college students are willing to sacrifice or take offered arrangements, they can cut or eliminate all needs for college debt.
Posted on 2/12/20 at 6:38 am to udtiger
quote:
Not what he's proposed.
Modifications to existing programs to get rid of unnecessary redundancies.
You mean we have a post that completely misrepresented* a Trump position?
I am shocked!
*Us oldsters used to call that "lying" but "OK Boomer" amirite?
Posted on 2/12/20 at 6:42 am to IrishTiger89
Hopefully he’s nuanced in this approach. There’s a real need for loan forgiveness for teachers and nurses that go to work in low income / less desirable areas. Those people are doing a public service by accepting lower wages and harder work.
Posted on 2/12/20 at 6:58 am to Old Hellen Yeller
I’m fine with getting rid of forgiveness but there has to be a grandfathering for those, like me, on PSLF. Halfway through it and really would not like to find out that I can’t get it and could have been on something else to pay off my loans.
Posted on 2/12/20 at 12:22 pm to The Maj
quote:
frickers seeking loan forgiveness are not voting for him anyway...
Actually, think about who has student loans. Yes, there’s the Jerry Springer crowd who got online degrees in hairstyling for ridiculous sums, but they tend to be the exception. A lot of these people are Americans from families with modest means who actually did what they were told they needed to do to lift themselves up. The Obama years very much handicapped their job prospects, while interest as high as 8% has been compounded yearly. This makes it incredibly hard to buy a home and start a family—and all while colleges have built lavish facilities and hired bs administrators to busybody around adult students. Basically, student loan forgiveness is an idiocracy issue. Morons will never stop reproducing, educated people have.
Posted on 2/12/20 at 12:44 pm to IrishTiger89
Just a thought, but why not increase the amount of tax deductible interest and then make it a credit to offset your tax bill? Sine the government owns the student loan business, you either pay the fed taxes or student loans.
It would reward high earners the most, the people who were responsible with loans and found a great career who are struggling to pay off $100k+. This would speed up repayment and eventually allow more money to be in the money supply instead of locked in government coffers.
Limit the credit so you can’t increase an already negative tax bracket.
It would reward high earners the most, the people who were responsible with loans and found a great career who are struggling to pay off $100k+. This would speed up repayment and eventually allow more money to be in the money supply instead of locked in government coffers.
Limit the credit so you can’t increase an already negative tax bracket.
Posted on 2/12/20 at 1:19 pm to IrishTiger89
quote:
st loan forgiveness
What the frick is loan forgiveness, and where can I get some?
Posted on 2/12/20 at 1:55 pm to IrishTiger89
He should end the federal guarantees on student loans...it has led to the exorbitant pricing all throughout higher ed.
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