US Announces $39 Billion in New Student Debt Relief (cnn.com) 194
"The Biden administration announced Friday that 804,000 borrowers will have their student debt wiped away, totaling $39 billion worth of debt, in the coming weeks..." reports CNN.
That's an average of $48,507 per borrower, each of whom has "been paying down their debts for 20 years or more and should qualify for relief," according to a statement from the administration Friday's action addresses "historical failures" and administrative errors that miscounted qualifying payments made by borrowers, according to the Department of Education...
Since Biden took office, his administration has approved $116.6 billion in student debt relief for more than 3.4 million Americans, according to the Department of Education... Despite the Supreme Court last month striking down Biden's loan forgiveness program to provide millions of borrowers up to $20,000 in one-time federal student debt relief, his administration has continued to pursue other avenues to cancel debt and make it easier for borrowers to receive loan forgiveness...
While not part of today's actions, the Department of Education is also moving ahead with a separate and significant change to the federal student loan system that will enable Americans to enroll in a new income-driven repayment plan... Once the plan is fully implemented, people will see their monthly bills cut in half and remaining debt canceled after making at least 10 years of payments.
Last month the administration described student debt relief as "good for the economy... [G]ood for the country."
That's an average of $48,507 per borrower, each of whom has "been paying down their debts for 20 years or more and should qualify for relief," according to a statement from the administration Friday's action addresses "historical failures" and administrative errors that miscounted qualifying payments made by borrowers, according to the Department of Education...
Since Biden took office, his administration has approved $116.6 billion in student debt relief for more than 3.4 million Americans, according to the Department of Education... Despite the Supreme Court last month striking down Biden's loan forgiveness program to provide millions of borrowers up to $20,000 in one-time federal student debt relief, his administration has continued to pursue other avenues to cancel debt and make it easier for borrowers to receive loan forgiveness...
While not part of today's actions, the Department of Education is also moving ahead with a separate and significant change to the federal student loan system that will enable Americans to enroll in a new income-driven repayment plan... Once the plan is fully implemented, people will see their monthly bills cut in half and remaining debt canceled after making at least 10 years of payments.
Last month the administration described student debt relief as "good for the economy... [G]ood for the country."
This will get struck down too (Score:5, Insightful)
This isn't going to last, either. Biden and Pelosi were both very clear about this last year: any student debt relief has to start in Congress and cannot start with the Executive.
They know this is going to be overturned as well. The president does not have the power to just decide to spend money that Congress has not previously allowed him to spend.
Re:This will get struck down too (Score:5, Insightful)
Re:This will get struck down too (Score:5, Insightful)
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It is sad that our current state of education
True, maybe we should let people get some higher education without asking teenagers whose grey matter hasnt even finished maturing into make life changing financial decisions.
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But they want to extend the right to vote to 16 so that those immature, easily influenced kids can vote for them.
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Who does? I have not heard of that in any serious discussion. It's an amendment.
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FTFY, in case we were still wondering what the kids are getting out of the ol' college experience these days, other than a lifetime subscription to STD inhibitors.
clutches pearls
Adults, having sex?
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FTFY, in case we were still wondering what the kids are getting out of the ol' college experience these days, other than a lifetime subscription to STD inhibitors.
clutches pearls
Adults, having sex?
If you those are adult minds ready to be unexpected parents, you should re-visit a college campus. Let that innocent 19-year old bestow their wisdom upon you to reaffirm where those pearls were shoved, long ago. Probably find more than one reason abortion has been reduced to little more than a contraceptive.
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Who is using abortion for contraception? Do you have any figures to cite? Were you also bent out of shape when Elvis was shaking his hips on the television?
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Who is using abortion for contraception? Do you have any figures to cite?
https://www.ncbi.nlm.nih.gov/p... [nih.gov]
"Results: We found that 45% of patients reported having one or more prior abortions."
I almost wish you hadn't asked, since the last time I looked at that statistic it was "only" at 40%, and this study is already a few years old. Who is using it you ask? I'd say damn near the majority. That's who.
Were you also bent out of shape when Elvis was shaking his hips on the television?
I was more a Tipper Gore victim of pearl-stroking when it came to those horrific influences coming from wailing hair bands telling me how to Fuck like a Beast. But tell me ag
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I almost wish you hadn't asked, since the last time I looked at that statistic it was "only" at 40%, and this study is already a few years old. Who is using it you ask? I'd say damn near the majority. That's who.
45% of people having an abortion, not everyone.
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As far as student debt, that fact that the colleges have no liability in this absolutely blows my mind. You know what this will onl
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I almost wish you hadn't asked, since the last time I looked at that statistic it was "only" at 40%, and this study is already a few years old. Who is using it you ask? I'd say damn near the majority. That's who.
45% of people having an abortion, not everyone.
Uh, you started this conversation by asking who's using abortion as contraception. I merely statistically kept it there. Something about logic and accuracy.
Given the overall percent of abortions that are medically necessary, I think we can dispel with the idea that the other 45% of first-timers all have perfectly valid reasons. It's quite obvious how and why abortion is being abused well beyond the intended purpose. Same reason abortion is warped as an all-or-nothing argument.
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Exactly colleges should be eating at least 50% of the debt discharged.
Re: This will get struck down too (Score:2, Informative)
Conclusions: Age is the biggest risk factor for having had a prior abortion; the longer a woman has been alive, the longer she is at risk of unintended pregnancy.
From your link. Why is it hard to understand that someone who has difficulty conceiving a healthy baby probably has to try multiple times? And that it gets more difficult after 30?
That's all that link of yours really tells us. Here are some other facts.
"Miscarriage" is a subcategory of abortions. Happens to 1/5 pregnancies. There were 620k legal abortions in 2020 vs 3600k births... or ~20%. There were 2x as many legal abortions in the 1980's as in the 2010's!
So it's a little surprising that less than ha
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The vast majority of people aren't getting abortions as a form of contraception, but mistakes happen. Calling a potential life that didn't happen a death is a wild stretch. Billions of people don't have sex and the eggs/sperm don't even have the chance to combine, what a destructive force!
Anyways, most people that are pro-choice are also for educating women and providing effective contraception so if you really are against abortions (and not just pro-forced-birth) then you should be on that side.
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Now according to the book I got that says this, to get through it takes forgiveness. That is the subject of the article. You will receive the
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I almost wish you hadn't asked, since the last time I looked at that statistic it was "only" at 40%, and this study is already a few years old. Who is using it you ask? I'd say damn near the majority. That's who.
Maybe people are having more sex? Can't fault them for that. Contraception works well but it is not perfect, it is going to fail eventually.
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I shudder to think where you get your stats from, they seem rather divorced from reality.
Maybe don't attack statistics that don't pass your immediate smell test. It'll make accepting reality that much easier when you find them reeking of more fact than fiction. Not like you're really gonna put anything past humans when it comes to selfish behavior anyway.
And I would expect some correlation between STDs and unwanted pregnancies, since they both stem from the same risk taking behaviour.
What correlation would you be looking for? Society feeding a 1 in 3 STD statistic? Check. Sex and STDs kinda go...hand in hand. Or hole. A condom would be considered taking a knife to a gun fight these days. Barely enough to dodge the ri
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Maybe don't attack statistics that don't pass your immediate smell test. It'll make accepting reality that much easier when you find them reeking of more fact than fiction. Not like you're really gonna put anything past humans when it comes to selfish behavior anyway.
Your stats suggest people are getting it much less than they are, and even then it is because they are selfish? Seek professional help dude.
A condom would be considered taking a knife to a gun fight these days. Barely enough to dodge the risk.
Well hopefully nobody is forcing you.
When the latest wave of "modern" feminism is over with in the western world, just remember that was your explanation to millions of proud-but-single 304s and their cats, while the men enriched themselves finding true happiness and peace with women from another country, for reasons that will seemingly never be understood to modern women.
You should stay off those incel forums. Just sayin.
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Guess you should be sickened even more when you find out that lack of access to medically necessary abortions is killing that many women PLUS babies now.
Citation needed...
This is not the case in America anywhere. If you have an ectopic pregnancy, you will have it aborted pretty much whether you even want to or not.
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IDK about that. I keep reading Gen Z is having less and less sex then prior generations. Too addicted to their social media I imagine.
Worse, more women are putting off sexual relationships until later in life. They are now becoming more educated then the average guy and are trending towards out earning the average guy.
Dating strategies will have to change unless IVF starts becoming the preferred breeding method for successful women. I don't exactly think women are just going to start dating down but and ado
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They know and they don't care. This makes an excellent carrot to dangle in front of prospective voters.
"Prospective" voters would imply a younger audience who isn't currently saddled with a proven-worthless degree and tens of thousands in debt, and therefore could really give a shit about this problem that isn't theirs.
As for the rest, that carrot has been double-dipped in sour buffalo bullshit sauce one too many times. If any voter is waiting on this in order to cast a vote, might as well hold your breath now and get the suffering over with.
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In the eyes of a Politician, a prospective voter is one who has not yet been jaded by the system.
They are inexperienced in the ways Politicians lie their ass off to those who do not yet have the wisdom to recognize their bullshit.
This is why our Politicians fight so hard for this demographic. They are dead easy to manipulate.
Re:This will get struck down too (Score:4, Insightful)
PPP and student loans are apples and oranges. First of all, Congress passed the PPP legislation. It went through the proper legislative process. Secondly, the purpose of PPP was to insulate businesses that had their business shut down by government mandates. It was a solution to a government created problem.
Student loans are something that people agreed to. Others that don't have those loans and will pay the taxes to pay off those loans may have chosen to not go to college, go to a cheaper college, work through college, or to sacrifice luxury to have paid theirs off. Or, they may have seen what college costs and wisely chose a degree and career path to pay for their loans. There is no fairness in forgiving the debt. It's all very obvious pandering to a base to buy votes. It's also something that Congress had ample time to pass when the Democrats controlled both the Senate and House in Biden's first two years. They didn't have the votes, so they chose to let Biden do it (right before the midterms to get the greatest boost to votes) and then use court challenges as campaign fodder.
Anyone that complained about anything Trump did as being Fascist or dictatorial should be against Biden doing this. He's blatantly abusing the powers of the Executive branch. He's trying to act like an Emperor, not as a President.
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Biden and Pelosi were both very clear about this last year: any student debt relief has to start in Congress and cannot start with the Executive.
I keep seeing this repeated. Are there any citations?
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Pelosi: https://www.cnbc.com/2021/07/2... [cnbc.com]
Biden administration: https://www.forbes.com/sites/z... [forbes.com]
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Biden and Pelosi were both very clear about this last year: any student debt relief has to start in Congress and cannot start with the Executive.
I keep seeing this repeated. Are there any citations?
You mean other than the fact we might actually find a need to include Congress when debating things of this magnitude?
I mean if they don't qualify with that price tag, I'd love to know why we keep paying salaries and light bills. That same Congress likely approved the spending in the first place, so...
No it won't (Score:3, Insightful)
People are misunderstanding how the Supreme Court struck down Biden's last student loan debt relief plan. They did not say
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" This is literally people who do not technically owe the money but are still making payments and Biden's administration is going through the records and informing people that they don't need to keep paying the money. "
These are people who don't understand the mechanics of how a loan works.
If you pay nothing but minimum payments, you will NEVER get out from underneath the loan. Ever.
It is a stupid idea to take on this debt before securing the financial means of paying it back as well.
If you can't afford it
I'm telling people the exact opposite (Score:2, Insightful)
I think what's going on is your reacting with fear because it's starting to Dawn on you what letting an unchecked partisan Supreme Court run wild actu
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Re:This will get struck down too (Score:5, Insightful)
Wrong, the Supreme Court took the power of being able to invent definitions of words to contrive its decision. Congress DOES allow the executive branch to make these decisions. The premise of the supreme court decision was "the HEROES Act allows the Secretary to “waive or modify” existing statutory or regulatory provisions applicable to financial assistance programs under the Education Act, but it does not allow the Secretary to rewrite that statute to the extent of canceling $430 billion of student loan principal" ..except nowhere in the law is such a distinction specified -- waive or modify ought to mean exactly that -- for fucks sake it even allows waiver. The Supreme Court invented for itself what the word "modify" means. .. read it for yourself: https://www.supremecourt.gov/o... [supremecourt.gov]
But in decisions like how long a copyright could go on for the Supreme Court said it wasn't up to it to play dictionary and decide what "limited time" meant. Limited time could mean 1 trillion years according to them.
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I'm not so sure that's correct. I believe this is based on existing law, the same law that reduced payments in such a way that interest was capitalized, even if borrowers paid on time, so their debt always grew. ...The horror stories that people complained about. This coming forgiveness was covered in WSJ long before the latest scotus ruling. Those who read NYT would of course not know about that.
Re: This will get struck down too (Score:5, Informative)
The parent post is not insightful, it is ignorant. What was struck down was based on one specific law around emergencies, and this action is based on a completely different law - the Higher Education Act. One that very explicitly gives the President and the Secretary of Education the authority to set income driven repayment terms.
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Let us also not forget that the claimants in the SCOTUS case didn't really even have standing, but SCOTUS ignored that.
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This particular action is different from debt relief. The debt was supposed to be relieved after 20 years if they followed the rules and paid regularly with an income-based repayment plan, which these people did. An agreement was made and past administrations did not live up to their side of the agreement. This is purely an administrative action that congress can't affect.
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The money has already been spent. This is about deciding not to collect the loans.
Now that's some novel spin! They should have tried that in the recent SC case!
Re:This will get struck down too (Score:4, Informative)
Now that's some novel spin!
It's not some novel spin. The government accounts record the spending when the loans were taken out.
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" Every single student loan debt which was created under laws preventing discharging them through bankruptcy should be declared invalid due to those onerous conditions. "
Disagree.
They certainly didn't have the collateral necessary to take out a standard loan so there is no bank on the Planet that is just going to hand over that kind of money with zero risk to the borrower. You know as well as I do that pretty much every single student would declare bankruptcy to discharge their loan soon after graduation
unlimited loans led to high costs at schools& (Score:2, Insightful)
unlimited loans led to high costs at schools & skill gaps.
admin staff at colleges is bloated and look at the text book ripoff. bankruptcy can help to give the banks some pull to crack down the schools to lower costs.
Re: This will get struck down too (Score:2)
No it doesn't bankrupt anyone. What would happen very quickly is lenders would blacklist bad colleges!
Standard bankruptcy is how the current loan network operates under. Just because some business has collateral today for the loan doesn't mean they have it tomorrow. Anyone entering bankruptcy certainly doesn't have the assets to cover their loans.
The anti-student-loan-forgiveness crowd would have better legs to stand on if the bank bailouts, bank account bailouts, auto bailouts, PPP forgiveness, housing ma
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Behold, the product of the "higher-education" system. "Anyone who disagrees with me must be a fascist even though I don't know what the words means."
You're insulting the very people who you insist pay your bills because you can't. Maybe a little more respect is in order?
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Maybe a little more respect is in order?
Nope. They're talking a bunch of shit, no reason to respect that.
Speaking of which, hahAHAHAHAHAHHaha to you too.
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I've already spent my mortgage loan buying my house. Does that mean the creditor does not need me to pay it back?
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You are blabbering. SCOTUS didn't say they violated the constitution, Biden and Pelosi didn't say they did, and they didn't.
Make the colleges pay (Score:5, Interesting)
Accreditation agencies should require colleges to independently survey their graduates' salaries and employment rates and publish the results for each major. Before anyone gets a loan they must be informed of their future projected salary and employment probability. Everything else in the world comes with a warranty and some sort of performance guarantee, so college is getting off easy on that. We can't just allow colleges to trick their students into taking federal loans in majors that have no chance of paying back loans.
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While that's a solid idea, those universities have powerful lobbying groups and are in no way letting their educational industrial complex go away. Best not to think of them as educating the future but rather promising a pathway to riches. They are selling hope!
We do (Score:4, Informative)
Mind you in a republican gets into the White House all of this gets thrown out the window and the diploma Mills start right back up. You can find articles discussing Obama shutting down dodgy fake universities left and right and then Donald Trump immediately reopening them all. I know folks don't like to talk about partisan issues but this is very much a partisan issue.
The other issue is that the baby boomers and older Gen x had their education paid for by the government through direct subsidies that were cut in the early 2000s. I was there when it was happening and I remember the university newspapers talking about how cutting the state and federal subsidies would cause tuition to shoot up through the roof.
Americans really really hate it when the government pays for anything. We like to think of ourselves as a bunch of rugged individualists making it on our own and pulling ourselves up by our bootstraps. So when the government does subsidies here they hide it from us like we're petulant children. In the case of mission subsidies the money was given directly to the universities who passed it on to the students in the form of super low tuition.
And before a bunch of people come in here and claim it's high administration costs the administration costs haven't really gone up all that much. Universities have grown so they have added more staff to serve the largest student body and there is a shitload of new technology that students have to be taught on and an equally large shitload of employees managing and maintaining that technology for the students. The result is there has been a noticeable increase in the total number of what can be called administrative positions and this is what people use when they want to make you think that the problem is overpaid teachers and not the fact that we cut tens of billions of dollars of indirect subsidies.
The fact of the matter is the baby boomers and older Gen x had their college paid for by taxpayers and now they get upset when the younger generations ask for the same. That's pretty messed up
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It IS a partisan issue and the Republicans are on the wrong side. In the 60s education was a 1 party issue and the Republicans didn't care. But polls shifted and voters ranked education as a priority at the same time Republicans began a cold war on education (Vietnam, Nixon) after that point BOTH parties played politics with this new political football and education has been the causality ever since -- it's getting worse not only due to generations of political fighting but because politics itself is more t
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The last Republican president actually ran a scam university with his name on it and hired a secretary of education in the same business. It might not be partisan, but the Republicans keep picking people that are causing the problems.
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Much much simpler solution.
Cap student loan payments for 10% of discretionary income for 10 years (its 25 years now). No BS gotchas in it like submitting this form and that form.
Re:Make the colleges pay (Score:4, Interesting)
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I meant gotchas, like they denied most loan forgiveness on gotchas before it was reversed lately by Biden.
Make universities put up collateral that the debt is expected to be paid by the student in 10 years. If not, university pays the remaining balance. So, if a university wants to create a program and ask students to take on debt, they can't just saddle students with debt and kick them out the door and not be their problem.
If students fail, make it the university's problem also. Don't let them blame stude
Re:Make the colleges pay (Score:5, Insightful)
"Everything else in the world comes with a warranty and some sort of performance guarantee"
I can tell you're not reading any of your software licenses.
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Wait, so you are saying colleges have to PREDICT THE FUTURE for salaries of specific jobs related to a degree? Have you thought this out? You need to put in some more effort.
A ton of people don't do directly related jobs; sometimes completely different than their education. A 4 year education is basically 2 years general and 2 years specific; the general helps in ways people don't even realize; much more so for people who take those seriously as students. The 2 years specific may or may not have a lot t
So painful (Score:3, Interesting)
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That's how it works in some parts of Europe, and it's great. Young people don't have to make the decision to take on massive debt as soon as they turn 18, and the country gets highly skilled workers to power the economy.
Re: So painful (Score:3)
Thatâ(TM)s how it works in Tennessee and I think Kentucky as well. Not sure why everybody points to Europe.
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Thatâ(TM)s how it works in Tennessee and I think Kentucky as well. Not sure why everybody points to Europe.
That's not exactly how it works, but effectively yes, students in Tennessee can get much of their two-year college tuition covered through what's called Tennessee Promise.
Simply put, a third party organization (Tennessee Achieves) pays for the remainder of a student's tuition balance at the state's community colleges, or pays some portion (but not 100%) of tuition at 4-year institutions such as UT. It doesn't cover all fees and expenses though, so a student in a welding program would still have to buy the
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Yeah - it's pretty close to how it works in Europe. It covers 4 years, though, not just 2, and it pays 100% at plenty of community colleges.
This is a better model, anyway. Tell everybody "here's how much we'll pay" and the free market is able to say "well, we can provide an education at that price".
These borrowers were cheated? (Score:5, Insightful)
FTA: "for 804,000 borrowers who have been paying down their debts for 20 years or more and should qualify for relief. Instead, many were placed into forbearance by loan servicers in violation of the rules, and others did not get appropriate credit for their monthly payments."
I read a post about borrower who was supposed to have his debt wiped 5 years ago after he hit the time limit on a loan being paid back on an income-driven plan, but it wasn't, and he kept making payments while contesting it, and eventually got it retroactively fixed and got his 5 years of payments back. Sounds like there are 800,000 cases like his? I don't understand how creditors are allowed to cheat on the terms, nor why the fix is this executive action rather than making dishonest creditors follow the rules.
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I’m not complaining about this, really. We’re a democracy. We get the government that we choose. As a whole
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Re: These borrowers were cheated? (Score:2)
This debt repayment applies only to federally backed loans. That is loans from the department of Education, the government itself. So, by your logic, you have no problem with it because it is the lender that they're going after to do this.
I have a better idea (Score:5, Interesting)
Keep the loans in place and eliminate the interest. Credit all interest already paid toward principal
Many borrowers have already paid amounts exceeding the original principal
Make future loans interest-free
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That's not a good idea. No interest means that someone else has to pay for cost of the money being unavailable. Inflation + long term holdings allow invested money to grow at 5-10%.
The typical economics 101 example is that parents with 2 children should not give 1 sibling an interest free loan because it takes money from a) their retirement and b) the inheritance passed to both siblings.
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Exactly.
No sane person is going to lend money for free with zero risk to the one taking out the loan.
There is a reason things like " collateral " exist. Both sides take a risk.
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Loans cannot be discharged through bankruptcy.
There is no risk.
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If you can't discharge the loan through bankruptcy, then interest should be 0.
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The two key monetary reforms that would totally transform the world:
1 - prohibit usary (compound interest)--only allow a flat fee for loan services
2 - eliminate central banks and debt-backed currency. Fiat is fine--issued by the treasury itself--so long as the supply is controlled by a published algorithm governed by votes from the people--not by a powerful SIG.
The above two items would relegate currency to a means of economic exchange rather than now where it's a means to enslave the populace by the banker
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Re:I have a better idea (Score:4, Interesting)
You'll need a tiny bit of interest to pay for administration cost of the loans themselves, but certainly 1% could cover that.
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Keep the loans in place and eliminate the interest. Credit all interest already paid toward principal
Many borrowers have already paid amounts exceeding the original principal
Make future loans interest-free
Make it dischargeable through bankruptcy after 10 years.
Oh, what grateful votes we shall give ... (Score:2)
... when first we learn our loan's been outlived?
Should focus on core problem (Score:3)
I'm at least a bit empathetic to student load debt but I'm finding the Democrats actions on this issue highly frustrating as so far I have seen absolutely zero energy from them in addressing the core problem here and that's the high cost of college education. Debt forgiveness is all well and good but a decade from now we're just going to have a ton of college graduates horribly in debt again just as we do now.
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I'm at least a bit empathetic to student load debt but I'm finding the Democrats actions on this issue highly frustrating as so far I have seen absolutely zero energy from them in addressing the core problem here and that's the high cost of college education. Debt forgiveness is all well and good but a decade from now we're just going to have a ton of college graduates horribly in debt again just as we do now.
1. People were straight up duped into student loans. Loan office would just print out the documents and say just sign here.
2. Income based repayment plans: If the debt cannot be repaid at 10% of discretionary income in 10 years (it is 25 years now), then it should be forgiven. So, there is very little incentive to give big loans to jobs that will never make money.
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Absolutely nothing you've said changes the fact that we're not going after the core problem here. We are absolutely going to have this exact same problem a decade from now if we dont do something about the core underlying problem which is the cost of a college education. Your forgiveness plan is just basically the same thing as Biden's current debt forgiveness except not done for everyone all at once. It's still slapping a band aid on ridiculous amounts of debt that shouldnt have been there to begin with wh
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I saw universities shift focus to making money from being a learning and knowledge institution. It turned into a business of selling "college" for student debt. I saw people promoted who focused on money instead of improving the university.
Starve them out and all that cancer that grew from easy money will die out. That cancer of money did despicable things and forced so many people to shift focus to taking larger, dumbed down and more basic classes.
Hopefully universities will go back to what it used to be.
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You can't just solve everything everywhere all at once.
People complain too much about stuff they don't know. There are MULTIPLE PROBLEMS and dealing with debt holding back generations from moving forward benefits all and is a tiny amount compared with the massive corporate welfare. These people will pay taxes on this money they will now have and build up wealth sooner and possible greater so it'll pay back more long term than it likely costs us today.
COST of education is multiple problems that need to als
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The cost increased only because of cheap debt. Kill cheap debt and it will kill off the nasty cancer that grew on every university from this easy money.
So many good people who dedicated their life to education were sidelined and forced into nasty things because the money makers were promoted and ruled universities.
Has SCOTUS ruled against this already? (Score:2)
I thought SCOTUS ruled against this about a month ago.
If your college degree is so worthless you cannot be expected to repay the loan . . . Then certainly your college degree is too worthless for your neighbor to repay your loan.
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Nope. not same; but maybe SCOTUS will find more excuses to impose their opinions it's not like they are honestly interpreting the law. Multiple laws give the ability to do this and Biden can use them all until SCOTUS gives up or decides to get more blatantly corrupt than they already have.
Vote buying without spending money (Score:2, Informative)
Student debt is stupid (Score:2)
At least on US levels. In Europe, you can usually complete a degree without debt or with manageable debt (say, 10k EUR). This is essential to get anybody talented to get one and that is essential to keep the industry going. Getting that first degree or not should be mainly (ideally: purely) based on merit, not on money or you get more and more morons with degrees and less and less people that should actually have gotten one without it.
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Sounds like you're in the same boat as these college grads. Why don't you get a better job? Isn't that what you're telling them?
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No.
What we're telling them is using large sums of money in the form of LOANS before you even have the means to pay it back is a dumb idea.
It's right up there with pre-arranged marriages, and the idea that everyone needs* a college degree in the first place.
*Yes, I know that the entire business industry loves to put degree requirements on even the most trivial jobs. When they can't hire anyone to fill those positions, they may eventually rethink this lunacy.
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I'm tired of literally working my ass off so i can spend the second half of my life in chronic pain..watching the government take more and more of my money every year. There's no way in hell these people should have their debts paid off...not with government money.
Why haven't you pulled yourself up by your bootstraps yet?
I'm tired of working 48/hours a week and being in debt while handouts are going everywhere. PAY YOUR OWN DAMN DEBT.
The vast majority of the handouts are going to the MIC, and to the already wealthy. The Paycheck Protection Program has so far cost over $757 billion, and most of the funds did not go to protecting paychecks. You're crying about a little over $80b to people who got screwed over, while ignoring an order of magnitude more paid to people screwing people over. You are clearly not a serious person.
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"Government officials acknowledge that the program was rife with fraud and did not weed out undeserving applicants."
"inspector general has estimated that at least 70,000 loans are potentially fraudulent. An unknown additional number of loans went to companies that didn't need PPP funding to survive the pandemic."
https://www.npr.org/2023/01/09... [npr.org]
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I'm tired of literally working my ass off so i can spend the second half of my life in chronic pain..watching the government take more and more of my money every year. There's no way in hell these people should have their debts paid off...not with government money.
Agreed. And all those people who got their PPP loans forgiven should be required to pay that money back. You know, because it's government money.
And while we're on the subject of watching the governmet take more and more of my money every year, t
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How can you work 48 hours and not have enough money to pay your bills? What are you spending your money on? I'm not being facetious here .. really want to know why what you make is not enough.
Re: Republican tears (Score:5, Insightful)
Where's mortgage relief?
Where's credit card debit relief?
Where's auto loan debt relief?
The argument is just as strong, and the impact is just as great, to justify any of the above, yet the debt of students (who ironically took on the debt to try and increase their earning potential! How'd that work out for them?) is the only one we're discussing...
Those aren't at all comparable (Score:2, Insightful)
When a doctor graduates college you get a doctor. When an engineer graduates you get an engineer. When a teacher graduates you get a teacher.
There are very indirect benefits to you for me having a car and a house and food. But there are extremely direct benefits for you having an educated population. You want to have the benefi
No way - not in the same league... (Score:2)
Credit cards? There's already a "relief" plan in place for credit cards: settlements. Without help and a little smarts/gumption, debtors can negotiate a 70%+ elimination (if not higher) of their CC debt without bankruptcy, etc. The price? They 1) need to get a wad of cash to pay the remaining balance off at once, 2) tolerate harassing phone calls until #1, and 3) accept horrible credit for 1-2 years. After that, you can get credit cards again. Seven years after the settlement date, that past indiscretion is
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At least they are buying votes.
With PPP loan forgiveness, they were buying money for themselves with voters money.