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Message
re: Who owes all that student debt? And who’d benefit if it were forgiven?
Posted on 2/12/22 at 1:09 pm to The_Duke
Posted on 2/12/22 at 1:09 pm to The_Duke
quote:
Most black ppl don't have a generational wealth to fall back on when in dire need.
Most white people don't either Mr.Liberal.
This post was edited on 2/12/22 at 1:11 pm
1
Posted on 2/12/22 at 1:10 pm to Mo Jeaux
quote:
There's no need to go down what you think is a rabbit hole. Why would you get anything if you don't have the debt?
Maybe it’s like tax “refunds”. People get more “refunded” than they ever put in..
Posted on 2/12/22 at 1:13 pm to The_Duke
quote:
I truly believe black millennials are the foundation for the black community--the first group of blacks that has had truly free reign in the US economy and education system.
Except this isn’t accurate. Fewer black people are graduating college today than they did 30 years ago and household consumer debt amongst black families is the highest in history.
Posted on 2/12/22 at 1:16 pm to Mo Jeaux
quote:What part of this did you not understand?:
I am totally against any kind of loan forgiveness.
Why?
quote:
But, before any discussion that takes place regarding loan forgiveness is what's the plan going forward. Does the student loan program go away or does it continue and kids borrow way more money than they need because they know it will eventually be forgiven. Schools should be on the hook for some of this as tuition has outstripped inflation and likely due to the student loan program. How is it fair for those who borrowed money but paid it back? How about us that set aside money for school so the kids wouldn't have to use student loans? Do I get some money back because we were fortunate enough to avoid student loans? This is an absolute rabbit hole that we do not need to go down. Who actually owns the debt? How do they get made whole if the debt is forgiven? So many questions to my knowledge have not been answered. It sucks for everybody regardless of the road map we take.
Posted on 2/12/22 at 1:16 pm to The_Duke
quote:
We know the most effective way to raise a population out of poverty is education
"Education", right. Getting a piece of paper doesn't change anything.
Posted on 2/12/22 at 1:21 pm to Diamondawg
quote:
What part of this did you not understand?:
I understood what you were saying. I didn't find the purported reasons very persuasive at all.
I was also asking philosophically.
Posted on 2/12/22 at 1:27 pm to Wednesday
Yea, it’s like providing government backed loans on Ferraris, when a Ford works just fine.
I have no problem with someone buying a Ferrari, but the government shouldn’t be involved.
I have no problem with someone buying a Ferrari, but the government shouldn’t be involved.
Posted on 2/12/22 at 1:28 pm to Bjorn Cyborg
quote:
Student loans at for-profit and private colleges should be capped at the average public school tuition in that state.
Eh, you can't really do that. I go to a non profit private school and my tuition is much higher than say LSU but there are ZERO fees after tuition. LSU fees rival the actual tuition cost. When you figure it out, I do pay more for school but not much more. What looks like 2Xcost on paper is only about 10-15% more and all my books and supplies are covered too, and I have a lab heavy curriculum that at public schools you would pay some pretty hefty lab fees for.
Posted on 2/12/22 at 1:36 pm to Dawgfanman
quote:so?
Maybe it’s like tax “refunds”. People get more “refunded” than they ever put in..
Posted on 2/12/22 at 1:49 pm to 4cubbies
quote:
so?
People are sick of handout seekers.
People need to pay their own way.
Posted on 2/12/22 at 1:53 pm to Bass Tiger
quote:
No problem with any of this ^^^^ But if you decide to seek higher education and sign off on student loans of 50-60-70 thousand dollars or more tell me why the American people should be stuck with the bill? Because that’s what some people are proposing?
I agree that we shouldn’t be bailing ppl out—but that can of worms has been opened by bailing business out time and time again. Billion dollar industries that are seeing record profits are still receiving bail outs at the slights inconvenience. It’s only natural for regular ppl to want that type of bail out—-I think it could be a great reset for the middle class.
Posted on 2/12/22 at 1:55 pm to 93and99
quote:
Most white people don't either Mr.Liberal.
More whits and Asian communities do tho have life lines for their younger generations. Blacks don’t—as I’ve said this will be the first generation within America to have full free range to explore and build
Posted on 2/12/22 at 1:55 pm to Mo Jeaux
Say I loan 2 dudes money.
Dude 1 busts his arse and pays me back the money.
Dude 2 does not pay me back the money and nothing happens
Does that seem fair? Do you thing dude 1 will make an effort to honor his financial obligations moving forward? Will dude 2?
Dude 1 busts his arse and pays me back the money.
Dude 2 does not pay me back the money and nothing happens
Does that seem fair? Do you thing dude 1 will make an effort to honor his financial obligations moving forward? Will dude 2?
Posted on 2/12/22 at 1:58 pm to hottub
quote:
Except this isn’t accurate. Fewer black people are graduating college today than they did 30 years ago and household consumer debt amongst black families is the highest in history.
That has absolutely nothing to do with the current topic. School is much more expensive than it was 30 years ago meaning having to take out much larger loans. That would be like comparing housing loans from 30 years ago to today market. Of course ppl borrowed more and have higher debt. Houses aren’t 50k anymore—and school isn’t a couple 100 bucks a semester anymore
Posted on 2/12/22 at 1:59 pm to tiggerthetooth
quote:
Education", right. Getting a piece of paper doesn't change anything.
Well in America—and every other developed nation—ppl with that piece of paper earn far more than those without it
Posted on 2/12/22 at 2:25 pm to Eli Goldfinger
Just say you don’t like black people
Posted on 2/12/22 at 2:33 pm to Mo Jeaux
Mo- why do you believe loan forgiveness should occur?
If I default in my CC debt, they cut it off and my rating goes in the toilet. A debt is a debt regardless of what it was for.
Same for starting a business. If I suck at starting a business, why should my loan be forgiven? Fwiw I did start my own business 14 years ago
If I default in my CC debt, they cut it off and my rating goes in the toilet. A debt is a debt regardless of what it was for.
Same for starting a business. If I suck at starting a business, why should my loan be forgiven? Fwiw I did start my own business 14 years ago
This post was edited on 2/12/22 at 2:37 pm
Posted on 2/12/22 at 3:27 pm to Eli Goldfinger
So… 82% of all borrowers owe less than $40k. IOW less than an average car… thst can be financed over 30 years.
This isn’t a crisis. And there is no need to be taking about “forgiveness”. People need to pay back what they have taken.
This isn’t a crisis. And there is no need to be taking about “forgiveness”. People need to pay back what they have taken.
This post was edited on 2/12/22 at 3:29 pm
Posted on 2/12/22 at 3:29 pm to The_Duke
quote:Then, why won’t they pay their bills?
Well in America—and every other developed nation—ppl with that piece of paper earn far more than those without it
Posted on 2/12/22 at 3:30 pm to Taxing Authority
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