Biden administration launches student loan review, says 40,000 borrowers will see debt canceled

[Woodznutz]

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And yet we don't complain about spending $30,000-$40,000 each to incarcerate millions of criminals for decades with absolutely no return on the investment.

 

[Posit]

Vote buying by a lifetime politician.

Like all of Biden's actions, timing, slant, publicity is designed to appeal to a voting block.

This ain't hard.

 

[Flash]

And yet we don't complain about spending $30,000-$40,000 each to incarcerate millions of criminals for decades with absolutely no return on the investment.

We get a payback on the criminals because we keep the sonofabitches off the streets from committing other crimes.

We would get absolutely no payback on paying off some worthless degree.

Of course the Democrat filth get a payback. The greedy little welfare shits that get the money become even more stupid Democrat voters, which is what this crap is all about.

 

[Canon Shooter]

Good point.

Hence I made it...

LOL!

It's the higher income people that would be paying the most, those with a college education.

But not the people with the college education that they couldn't afford...

Those folks aren't the problem.

Exactly my point. My friend Debbie did it the way it's supposed to be done: take out student loans, go to college, graduate with your degree, get a job and start paying your student loans, which you voluntarily took, back.

She's not the problem; you're correct...

I joined the Army and had G.I. Bill educational benefits of about $9000 (back it 1965). This would have paid for tuition for all four years at my state university with money left over. However I didn't want to go to college as I already had a good paying trade. Instead I used the money for commercial pilot flying lessons (I soon tired of it and never used up all the education benefit). I think the military still offers ed benny's doesn't it? Even McDonald's has a program.

The military does and, yes, McDonald's does, too. My company, likewise, invests in my employees educations.

I would caution anyone about joining the military solely to get money for college, though, simply because that's not why the military is there. The sacrifices which have to be made can be dire. It sounds very simplistic to say, but a person should join the military, first and foremost, if they are willing to die for their country. Everything else is secondary.

I've now been retired longer than I was on active duty, and I don't really keep up on what benefits the military currently offers to new recruits, but I can't imagine they'd remove education benefits...

 

[Canon Shooter]

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That is fucking outstanding...

 

[Woodznutz]

I would caution anyone about joining the military solely to get money for college, though, simply because that's not why the military is there. The sacrifices which have to be made can be dire. It sounds very simplistic to say, but a person should join the military, first and foremost, if they are willing to die for their country. Everything else is secondary.

In the recruitment brochures dying isn't even mentioned.

 

[task0778]

Maybe Biden's new "Disinformation" agency could look into this. Many students were duped into these loans.

I wonder how many students were duped and how many actually knew what they were doing and didn't care about debt. If their student debt gets cancelled, won't they do the same thing again with a car loan, mortgage, credit card, etc? And how does anyone out of high school not realize that when you take out a loan you have to pay it back?

 

[Who_Me?]

Totally irresponsible on both ends. Irresponsible by the borrower for taking out a loan that they cannot repay and Irresponsible by the government (us) who cancelled the debt.

Just a great way to highlight that people are not responsible for their actions and the government is there to fix their mistakes. Way to ENABLE Joe!

 

[Lisa558]

I don't take anything for granted anymore.

It's like when the shit hit the fan with the mortgage crisis some years back. People were trying to say that loans should be forgiven because people were fooled into taking those loans; "predatory lending practices" they called it.

That's the worst fucking excuse I've ever heard.

The inarguable truth is that no one forced anyone to do anything. People simply ignored the fact that they were ignorant about what those loans entailed...

Yeah, that’s the typical “blame someone else” pattern of Democrats.

 

[Lisa558]

I wonder how many students were duped and how many actually knew what they were doing and didn't care about debt. If their student debt gets cancelled, won't they do the same thing again with a car loan, mortgage, credit card, etc? And how does anyone out of high school not realize that when you take out a loan you have to pay it back?

Plus…..they SIGN the document that outlines the repayment terms. If the entering college student is so irresponsible or stupid that he doesn’t even read what he’s signing, he is not college material.

 

[Lisa558]

Why focus on forgiving student loans? What about the college student who didn’t take a student loan, but borrowed to purchase a car upon graduation? Now you have two 22-year-olds, and one has to honor his obligation and the other doesn’t.

 

[Posit]

Why focus on forgiving student loans? What about the college student who didn’t take a student loan, but borrowed to purchase a car upon graduation? Now you have two 22-year-olds, and one has to honor his obligation and the other doesn’t.

Not to be boringly repetitious, but the focus on forgiving student loans is about buying votes. Not just from those who's loans are forgiven, but also from those in their periphery, those who think the government should be responsible for people (as opposed to vice versa) and Democrats in general who see the action as politically positive.

Biden's favorability ratings are in the tank, so, politically driven, he has to do somethng that appeals to his base, at least. So long as the political calculous says he will benefit from forgiving the loans... its a done deal. Timing of the event will be based on maximum effect in the Nov elections.

 

[Lisa558]

Not to be boringly repetitious, but the focus on forgiving student loans is about buying votes. Not just from those who's loans are forgiven, but also from those in their periphery, those who think the government should be responsible for people (as opposed to vice versa) and Democrats in general who see the action as politically positive.

Biden's favorability ratings are in the tank, so, politically driven, he has to do somethng that appeals to his base, at least. So long as the political calculous says he will benefit from forgiving the loans... its a done deal. Timing of the event will be based on maximum effect in the Nov elections.

Yes, it’s an obvious bribe for votes. It’s what Democrats do.

But couldn’t it cost more votes among the working class, who will have to oay off the loans of the educated professionals?

 

[Posit]

Yes, it’s an obvious bribe for votes. It’s what Democrats do.

But couldn’t it cost more votes among the working class, who will have to oay off the loans of the educated professionals?

I dunno... that's part of the political calculus which determines if this is a beneficial move for Biden. Indications are, at this point, that Biden's handlers think its the thing to do.

As an aside,most people seem to think what the government does, re spending and money, doesn't affect them...so they don't woryy about it. Its kitchen table economics - what affects the household budget this week/month - that most people are concerned with. Hence Biden's recently announced efforts to reduce the inflation and gas prices which he is mostly responsible for. That hits us all, and we are unhappy, so he's gonna do something about it (??).

 

[task0778]

But couldn’t it cost more votes among the working class, who will have to pay off the loans of the educated professionals?

One would think that the number of people helped is a lot smaller than the number of people who were not helped and have to pay that debt, especially those who actually did pay off their student debt and now they gotta pay for the ones who didn't. It might be good for Warren up in MA but not so good for other democrats in purple or red states.

If I was a betting man, I'd bet the democrats are going to get their asses kicked in November and this student debt thing is not going to change that.

 

[Rambunctious]

 

[Lisa558]

One would think that the number of people helped is a lot smaller than the number of people who were not helped and have to pay that debt, especially those who actually did pay off their student debt and now they gotta pay for the ones who didn't. It might be good for Warren up in MA but not so good for other democrats in purple or red states.

If I was a betting man, I'd bet the democrats are going to get their asses kicked in November and this student debt thing is not going to change that.

I agree with you. The Dems are going to get their asses kicked in November, and by 2024 we will have a Republican president. I expect, please G-d, to live another 25 - 30 years, and given the anti-American attitude of today’s Democrats, I do not think there will be another Democrat in the WH in my lifetime.

I believe we will have DeSantis from January 2025 to January 2033.