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Started By
Message
re: White House set to cancel $10k of student loans
Posted on 5/27/22 at 10:26 am to Joshjrn
Posted on 5/27/22 at 10:26 am to Joshjrn
quote:
That's the rumor. And if it's true, Biden would need to forgive a fair bit more than $10k to offset that news from a political blowback perspective.
$10k is going to be seen as an insult to progressives. This plan is going to be celebrated by the DEM-coordinated outlets but the most leftists ones will be big mad.
2
Posted on 5/27/22 at 10:27 am to SlowFlowPro
they’ll still vote in lockstep come November and 2024.
Posted on 5/27/22 at 10:30 am to AUFANATL
quote:
It should be a requirement at every high school in the country that students take a class called "personal finance and responsibility".
Waste of time. Most people don't have the ability to understand the basics.
This country went to shite. Most people can't handle day to day affairs, nor have the capacity for it. Old or young.
Posted on 5/27/22 at 10:30 am to JohnnyKilroy
quote:
Yea I cannot fathom the hundreds of stories you see of people saying they make 600 in payments every single month for 20 years and their initial balance of like 40k is now closer to 80k.
Like how? My initial balance was like 40k when I got out of school. I made the payments I was supposed to make each month. My balance is now (7 years after graduating and 2 years of not paying a dime) 23k.
There stories often leave out important issues like missing payments, penalties, accrued interest prior to payments, etc.
Just like how all the "OMG I have $250k in SL debt" stories are almost all exclusively kids who chose to go to incredibly expensive private schools.
Posted on 5/27/22 at 10:32 am to RogerTheShrubber
quote:
Waste of time.
quote:
Most people don't have the ability to understand the basics.
They'd probably understand the basics, if you know, you taught them the basics.
We teach every high school kid 9 ways to solve for angles in a right triangle, but don't teach them how APR works.
One of those is way simpler than the other.
Posted on 5/27/22 at 10:32 am to Mingo Was His NameO
quote:
They'd probably understand the basics, if you know, you taught them the basics.
Roger is so fricking dumb
Posted on 5/27/22 at 10:34 am to BurningHeart
The income cap I'm seeing discussed now is $150k annual per person and $300k per couple. That might help more engineers and medical workers.
This post was edited on 5/27/22 at 10:36 am
Posted on 5/27/22 at 10:36 am to Mingo Was His NameO
quote:
They'd probably understand the basics, if you know, you taught them the basics.
Most don't have the capacity to learn enough for financial independence.
Good luck trying though. We are subpar in math achievement, but I'm sure they can understand complex financial information.
Posted on 5/27/22 at 10:37 am to RogerTheShrubber
quote:
I'm sure they can understand complex financial information.
Whats complex about compounding interest?
Posted on 5/27/22 at 10:37 am to Mingo Was His NameO
quote:
We teach every high school kid 9 ways to solve for angles in a right triangle, but don't teach them how APR works.
If you can figure out angles in a right triangle 9 ways, understanding APR should be assumed. If people of that intellectual capability don't understand such a simple concept, they deserve to deal with the effects of their ignorance.
Posted on 5/27/22 at 10:38 am to RogerTheShrubber
quote:
Most don't have the capacity to learn enough for financial independence.
This is 100% wrong
quote:
We are subpar in math achievement,
a. It doesn't take elevated math skills to understand basic/personal finance
b. The people who crater our rankings aren't going to college and taking out student loans. Maybe for trade school after their 2nd stint in the pen.
*ETA: I'm not saying people who do trades are stupid or are criminals. I'm saying many people who frick up their life early find economic salvation in trades later in life.
This post was edited on 5/27/22 at 10:39 am
Posted on 5/27/22 at 10:39 am to SlowFlowPro
quote:
If you can figure out angles in a right triangle 9 ways, understanding APR should be assumed.
They could understand it, easily, if they were introduced to it.
Posted on 5/27/22 at 10:39 am to LNCHBOX
quote:
Roger is so fricking dumb
So are you, if you think you can teach kids who can't read or write, or do basic math ..financial information.
Half of the kids in California are functionally illiterate, Louisiana can't be far behind. Good luck Einstein.
Posted on 5/27/22 at 10:39 am to SlowFlowPro
I had my daughter take out exactly $10k in student loans in anticipation of this. She hasn't used a penny of the loans and has already graduated.
Posted on 5/27/22 at 10:40 am to RogerTheShrubber
quote:
Most don't have the capacity to learn enough for financial independence.
How lazy
Posted on 5/27/22 at 10:40 am to RogerTheShrubber
quote:
So are you, if you think you can teach kids who can't read or write, or do basic math ..financial information.
Posted on 5/27/22 at 10:40 am to MSTiger33
quote:
And not for private loans
I have private student loans. Fantastic
Posted on 5/27/22 at 10:40 am to Mingo Was His NameO
quote:
They could understand it, easily, if they were introduced to it.
Kind of like they do economics, geography, math and english.
Brilliant!
This post was edited on 5/27/22 at 10:42 am
Posted on 5/27/22 at 10:43 am to LNCHBOX
Roger: everyone is a moron and lazy. If they just get an education and pull themselves up by their boot straps they'll be fine. They just don't want to work
Also Roger: people don't have the intellectual ability to understand
(1.04)^ a payment number x "x"
Also Roger: people don't have the intellectual ability to understand
(1.04)^ a payment number x "x"
This post was edited on 5/27/22 at 10:44 am
Posted on 5/27/22 at 10:44 am to Mingo Was His NameO
quote:
Roger: everyone is a moron and lazy
Looks like you're one of those who are sub par in math literacy.
Half or most =/= "Everyone"
And you're an accountant..
This post was edited on 5/27/22 at 10:46 am
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