Biden on forgiving student loan debt

[yidnar]

What do you all think of Bidens answer to this question?

sounds like biden aint got much confidence about his administrations ability to create jobs for college grads ..

 

[AzogtheDefiler]

Most of these people hoping for loan forgiveness must regret spending so much for school.

Did GM regret being an auto manufacturer when they got their loans forgiven?

GM got their loans forgiven? Link that please.

OMG, educate yourself. This has been covered so many times....................it really gets old.

There were bailouts. Not the same as forgiveness. Be specific. What are you referring to here? GM repaid their TARP loan. Where is the forgiveness? You made the statement, you provide the proof.

 

[pknopp]

I hope he doesn’t. It will just promote schools to charge more.

If you want to solve that issue then stop guaranteeing student loan debt. A student who gets a business degree is a lot more likely to pay off debts than one who gets a degree in music and ends up working at Burger King. Paying $100k for a degree in music is nuts but its even more nuts if you take out $100k worth of debt to pay for it. Colleges charge it because of Gov't approved loans. Stupid. Stupid. Stupid. Stupid.

gotta disagree with you there. Music is one of mankind greatest inventions. Its not necessary to go to school for it but for those with the talent and passion school is where they can take it to the next level and make an impression that may impact the world for centuries to come

And what is the average salary for music degree holders?

Why does that matter?

Because they are borrowing to go to school. Isn’t it irresponsible to let people borrow if they will be in debt forever?

Who said they are being irresponsible? You are the one making the leap. Show where music majors are not paying their loans.

I know a lot of people with regrets about going to school and how much they still owe. A LOT of people.

So what? The small number of people you claim to know is irrelevant. I kinda doubt there are many lawyers, doctors, bankers, etc that wished they had skipped school and became a fry cook.

Yes but there are lots of people asking for this loan forgiveness. If they are happy with their education and how much they paid it’s really dishonest to be asking for forgiveness.

Again, it was dishonest for GM to have their loans forgiven? They are unhappy being an auto manufacturer?

Why should holders of student loans be any different than the markets wanting to see taxpayer money benefit them?

 

[pknopp]

I hope he doesn’t. It will just promote schools to charge more.

If you want to solve that issue then stop guaranteeing student loan debt. A student who gets a business degree is a lot more likely to pay off debts than one who gets a degree in music and ends up working at Burger King. Paying $100k for a degree in music is nuts but its even more nuts if you take out $100k worth of debt to pay for it. Colleges charge it because of Gov't approved loans. Stupid. Stupid. Stupid. Stupid.

gotta disagree with you there. Music is one of mankind greatest inventions. Its not necessary to go to school for it but for those with the talent and passion school is where they can take it to the next level and make an impression that may impact the world for centuries to come

And what is the average salary for music degree holders?

Why does that matter?

Because they are borrowing to go to school. Isn’t it irresponsible to let people borrow if they will be in debt forever?

Who said they are being irresponsible? You are the one making the leap. Show where music majors are not paying their loans.

I know a lot of people with regrets about going to school and how much they still owe. A LOT of people.

So what? The small number of people you claim to know is irrelevant. I kinda doubt there are many lawyers, doctors, bankers, etc that wished they had skipped school and became a fry cook.

Yes but there are lots of people asking for this loan forgiveness. If they are happy with their education and how much they paid it’s really dishonest to be asking for forgiveness.

Bingo! I would NEVER ask for a Gov't handout. I feel dirty even advising companies on the PPP process but that is my job and the Gov't made these rules.

Do you have money in the markets? You are getting constant government hand outs.

 

[jasonnfree]

Looks like the taxpayers are stuck with the rebuilding cost of trump's and his goons attack on the nation's Capitol last month so hey, let's give the students a break too. They'll eventually pay it back in taxes unlike trump.

U.S. taxpayers to pay Capitol siege tab as government shuns insurance

U.S. taxpayers will be on the hook for damage from a mob attack on the U.S. Capitol in Washington on Wednesday because the building and grounds are not insured, industry sources said.

www.reuters.com

 

[Brain357]

I hope he doesn’t. It will just promote schools to charge more.

If you want to solve that issue then stop guaranteeing student loan debt. A student who gets a business degree is a lot more likely to pay off debts than one who gets a degree in music and ends up working at Burger King. Paying $100k for a degree in music is nuts but its even more nuts if you take out $100k worth of debt to pay for it. Colleges charge it because of Gov't approved loans. Stupid. Stupid. Stupid. Stupid.

gotta disagree with you there. Music is one of mankind greatest inventions. Its not necessary to go to school for it but for those with the talent and passion school is where they can take it to the next level and make an impression that may impact the world for centuries to come

And what is the average salary for music degree holders?

Why does that matter?

Because they are borrowing to go to school. Isn’t it irresponsible to let people borrow if they will be in debt forever?

Who said they are being irresponsible? You are the one making the leap. Show where music majors are not paying their loans.

I know a lot of people with regrets about going to school and how much they still owe. A LOT of people.

So what? The small number of people you claim to know is irrelevant. I kinda doubt there are many lawyers, doctors, bankers, etc that wished they had skipped school and became a fry cook.

Yes but there are lots of people asking for this loan forgiveness. If they are happy with their education and how much they paid it’s really dishonest to be asking for forgiveness.

Again, it was dishonest for GM to have their loans forgiven? They are unhappy being an auto manufacturer?

Why should holders of student loans be any different than the markets wanting to see taxpayer money benefit them?

I’m not aware of what you are saying with GM. Two wrongs don’t make a right.

If there is no regret they are happy with their purchase. No need for forgiveness.

 

[pknopp]

And who does everyone thing will be picking up the tab??

Why we tax payers of course.

If you want to go to college, get a job or a loan and go. Just don't expect the tax payers to pay your college bill for you.

The same people who pick up the tab when a big corporation bails and raids the retirement funds the govt. insures.

Then that makes everything okay? I’m tired of every stupid decision someone makes, we pay for. Trillions in debt, and those that promised to pay need to be held accountable and quit sponging off the working middle class.

I'm not meaning to promote debt but I am curious... How has the trillions in debt that our country has accumulated impacted your life?

It's going to. The rest of the world isn't going to allow us to print, print, print to buy new cars and vacation homes while they struggle with basic needs forever. It may not affect me but it's going to greatly affect future generations and as I note many times, it's not just about me.

I get the "its going to" argument but we have carried a national debt for generations. So my question is what actual effects have you felt in your lifetime as a result of the national debt?

I told you. I care about future generations. It also makes me want to puke when one group getting billions a year complains about those below them getting a little help.

I know you care about future generations as do I. Like I said, im not dismissing the importance of fiscal responsibility but I am asking if you or anybody you know has actually been impacted from the National debt. And if so, how?

You simply dismiss concerns as not legit.

Such as I want UHC. Even though someone like Sanders promotes a plan largely paid for people scream BUT we are $28 trillion in debt.

I never said your concerns weren't legit, I actually shared your concerns, don't put words in my mouth. But, I'm asking very simple questions and you keep avoiding direct answers.

I've answered it more than once.

You are right you answered the question, but you did so indirectly. You didn't actually give a direct answer the question that I asked. It was a very simple yes or no question that would involve some details if yes. I'm guessing the answer is No, you haven't seen any effects in your lifetime but you are concerned about the future. Is that right? Too bad I need to play guessing games to get a straight answer. Hope you can do better in the future

I explained how it directly affects me. The debt affects nearly everything. Interest rates such as how a retiree used to be able to live off interest on their savings. Now there is no interest.

I was looking at an older pic yesterday. 50 years appx. Banks were advertising 7% on savings. A retiree could do pretty well on that. Now they can't.

But you realize back then mortages were near 15-20% right?

No they weren't. They were in the 80's. That's when we really started screwing things up.

Yes thats what they were in the 80's, they were between 8-12% in the 70's 50 years ago. What are you arguing about? My point is valid no matter what the interest rates are, I was speaking to what correlates with interest rates and I don't see how the national debt effected rates in the way that you claimed.


View attachment 458304

The rates have been driven down to finance the debt.

Yes because new money is created from borrowing and borrowing is what circulates money and grows the economy. Do you want a 15% mortgage on your home loan in exchange for a 7% interest rate on your savings account? Would you make that deal?

There's no inflation. Unless there is inflation the Fed's job is to keep rates low.. And while the fed can increase the reserves in banks to facillitate lending, it's really the Treasury that can create money

Ask the person standing in line buying their groceries if there is inflation.

It's not 1972. Try for perspective. Something fundamentally changed in how the US econ can absorb budget defiits.

We aren't "absorbing" it. We are constantly growing it. It was asked earlier, do debts not matter?

 

[pknopp]

Most of these people hoping for loan forgiveness must regret spending so much for school.

Did GM regret being an auto manufacturer when they got their loans forgiven?

GM got their loans forgiven? Link that please.

OMG, educate yourself. This has been covered so many times....................it really gets old.

There were bailouts. Not the same as forgiveness. Be specific. What are you referring to here? GM repaid their TARP loan. Where is the forgiveness? You made the statement, you provide the proof.

Educate yourself. I suspect you already know though.

 

[pknopp]

I hope he doesn’t. It will just promote schools to charge more.

If you want to solve that issue then stop guaranteeing student loan debt. A student who gets a business degree is a lot more likely to pay off debts than one who gets a degree in music and ends up working at Burger King. Paying $100k for a degree in music is nuts but its even more nuts if you take out $100k worth of debt to pay for it. Colleges charge it because of Gov't approved loans. Stupid. Stupid. Stupid. Stupid.

gotta disagree with you there. Music is one of mankind greatest inventions. Its not necessary to go to school for it but for those with the talent and passion school is where they can take it to the next level and make an impression that may impact the world for centuries to come

And what is the average salary for music degree holders?

Why does that matter?

Because they are borrowing to go to school. Isn’t it irresponsible to let people borrow if they will be in debt forever?

Who said they are being irresponsible? You are the one making the leap. Show where music majors are not paying their loans.

I know a lot of people with regrets about going to school and how much they still owe. A LOT of people.

So what? The small number of people you claim to know is irrelevant. I kinda doubt there are many lawyers, doctors, bankers, etc that wished they had skipped school and became a fry cook.

Yes but there are lots of people asking for this loan forgiveness. If they are happy with their education and how much they paid it’s really dishonest to be asking for forgiveness.

Again, it was dishonest for GM to have their loans forgiven? They are unhappy being an auto manufacturer?

Why should holders of student loans be any different than the markets wanting to see taxpayer money benefit them?

I’m not aware of what you are saying with GM. Two wrongs don’t make a right.

If there is no regret they are happy with their purchase. No need for forgiveness.

If we are going to do wrong and we are, I'm going to support all benefitting.

 

[Brain357]

I hope he doesn’t. It will just promote schools to charge more.

If you want to solve that issue then stop guaranteeing student loan debt. A student who gets a business degree is a lot more likely to pay off debts than one who gets a degree in music and ends up working at Burger King. Paying $100k for a degree in music is nuts but its even more nuts if you take out $100k worth of debt to pay for it. Colleges charge it because of Gov't approved loans. Stupid. Stupid. Stupid. Stupid.

gotta disagree with you there. Music is one of mankind greatest inventions. Its not necessary to go to school for it but for those with the talent and passion school is where they can take it to the next level and make an impression that may impact the world for centuries to come

And what is the average salary for music degree holders?

Why does that matter?

Because they are borrowing to go to school. Isn’t it irresponsible to let people borrow if they will be in debt forever?

Who said they are being irresponsible? You are the one making the leap. Show where music majors are not paying their loans.

I know a lot of people with regrets about going to school and how much they still owe. A LOT of people.

So what? The small number of people you claim to know is irrelevant. I kinda doubt there are many lawyers, doctors, bankers, etc that wished they had skipped school and became a fry cook.

Yes but there are lots of people asking for this loan forgiveness. If they are happy with their education and how much they paid it’s really dishonest to be asking for forgiveness.

Again, it was dishonest for GM to have their loans forgiven? They are unhappy being an auto manufacturer?

Why should holders of student loans be any different than the markets wanting to see taxpayer money benefit them?

I’m not aware of what you are saying with GM. Two wrongs don’t make a right.

If there is no regret they are happy with their purchase. No need for forgiveness.

If we are going to do wrong and we are, I'm going to support all benefitting.

Well you are wrong there too. I paid for my college. I will get nothing.

 

[pknopp]

I hope he doesn’t. It will just promote schools to charge more.

If you want to solve that issue then stop guaranteeing student loan debt. A student who gets a business degree is a lot more likely to pay off debts than one who gets a degree in music and ends up working at Burger King. Paying $100k for a degree in music is nuts but its even more nuts if you take out $100k worth of debt to pay for it. Colleges charge it because of Gov't approved loans. Stupid. Stupid. Stupid. Stupid.

gotta disagree with you there. Music is one of mankind greatest inventions. Its not necessary to go to school for it but for those with the talent and passion school is where they can take it to the next level and make an impression that may impact the world for centuries to come

And what is the average salary for music degree holders?

Why does that matter?

Because they are borrowing to go to school. Isn’t it irresponsible to let people borrow if they will be in debt forever?

Who said they are being irresponsible? You are the one making the leap. Show where music majors are not paying their loans.

I know a lot of people with regrets about going to school and how much they still owe. A LOT of people.

So what? The small number of people you claim to know is irrelevant. I kinda doubt there are many lawyers, doctors, bankers, etc that wished they had skipped school and became a fry cook.

Yes but there are lots of people asking for this loan forgiveness. If they are happy with their education and how much they paid it’s really dishonest to be asking for forgiveness.

Again, it was dishonest for GM to have their loans forgiven? They are unhappy being an auto manufacturer?

Why should holders of student loans be any different than the markets wanting to see taxpayer money benefit them?

I’m not aware of what you are saying with GM. Two wrongs don’t make a right.

If there is no regret they are happy with their purchase. No need for forgiveness.

If we are going to do wrong and we are, I'm going to support all benefitting.

Well you are wrong there too. I paid for my college. I will get nothing.

Do you have a 401K or investments?

 

[Toddsterpatriot]

GM repaid their TARP loan.

The Treasury lost over $11 billion on GM loans.

Automotive Industry Financing Program | Eye on the Bailout | ProPublica

 

[Brain357]

I hope he doesn’t. It will just promote schools to charge more.

If you want to solve that issue then stop guaranteeing student loan debt. A student who gets a business degree is a lot more likely to pay off debts than one who gets a degree in music and ends up working at Burger King. Paying $100k for a degree in music is nuts but its even more nuts if you take out $100k worth of debt to pay for it. Colleges charge it because of Gov't approved loans. Stupid. Stupid. Stupid. Stupid.

gotta disagree with you there. Music is one of mankind greatest inventions. Its not necessary to go to school for it but for those with the talent and passion school is where they can take it to the next level and make an impression that may impact the world for centuries to come

And what is the average salary for music degree holders?

Why does that matter?

Because they are borrowing to go to school. Isn’t it irresponsible to let people borrow if they will be in debt forever?

Who said they are being irresponsible? You are the one making the leap. Show where music majors are not paying their loans.

I know a lot of people with regrets about going to school and how much they still owe. A LOT of people.

So what? The small number of people you claim to know is irrelevant. I kinda doubt there are many lawyers, doctors, bankers, etc that wished they had skipped school and became a fry cook.

Yes but there are lots of people asking for this loan forgiveness. If they are happy with their education and how much they paid it’s really dishonest to be asking for forgiveness.

Again, it was dishonest for GM to have their loans forgiven? They are unhappy being an auto manufacturer?

Why should holders of student loans be any different than the markets wanting to see taxpayer money benefit them?

I’m not aware of what you are saying with GM. Two wrongs don’t make a right.

If there is no regret they are happy with their purchase. No need for forgiveness.

If we are going to do wrong and we are, I'm going to support all benefitting.

Well you are wrong there too. I paid for my college. I will get nothing.

Do you have a 401K or investments?

I paid for my college. This would benefit just a few, not all. And it will increase the cost of college for future students. It’s not a plan.

 

[AzogtheDefiler]

Most of these people hoping for loan forgiveness must regret spending so much for school.

Did GM regret being an auto manufacturer when they got their loans forgiven?

GM got their loans forgiven? Link that please.

OMG, educate yourself. This has been covered so many times....................it really gets old.

There were bailouts. Not the same as forgiveness. Be specific. What are you referring to here? GM repaid their TARP loan. Where is the forgiveness? You made the statement, you provide the proof.

Educate yourself. I suspect you already know though.

They repaid their TARP loan. Show me otherwise.

 

[AzogtheDefiler]

I hope he doesn’t. It will just promote schools to charge more.

If you want to solve that issue then stop guaranteeing student loan debt. A student who gets a business degree is a lot more likely to pay off debts than one who gets a degree in music and ends up working at Burger King. Paying $100k for a degree in music is nuts but its even more nuts if you take out $100k worth of debt to pay for it. Colleges charge it because of Gov't approved loans. Stupid. Stupid. Stupid. Stupid.

gotta disagree with you there. Music is one of mankind greatest inventions. Its not necessary to go to school for it but for those with the talent and passion school is where they can take it to the next level and make an impression that may impact the world for centuries to come

And what is the average salary for music degree holders?

Why does that matter?

Because they are borrowing to go to school. Isn’t it irresponsible to let people borrow if they will be in debt forever?

Who said they are being irresponsible? You are the one making the leap. Show where music majors are not paying their loans.

I know a lot of people with regrets about going to school and how much they still owe. A LOT of people.

So what? The small number of people you claim to know is irrelevant. I kinda doubt there are many lawyers, doctors, bankers, etc that wished they had skipped school and became a fry cook.

Yes but there are lots of people asking for this loan forgiveness. If they are happy with their education and how much they paid it’s really dishonest to be asking for forgiveness.

Again, it was dishonest for GM to have their loans forgiven? They are unhappy being an auto manufacturer?

Why should holders of student loans be any different than the markets wanting to see taxpayer money benefit them?

I’m not aware of what you are saying with GM. Two wrongs don’t make a right.

If there is no regret they are happy with their purchase. No need for forgiveness.

If we are going to do wrong and we are, I'm going to support all benefitting.

Well you are wrong there too. I paid for my college. I will get nothing.

Do you have a 401K or investments?

I paid for my college. This would benefit just a few, not all. And it will increase the cost of college for future students. It’s not a plan.

#1) My parents paid for my undergrad. Thankfully they could afford it. They had me in their late 30s so they had savings.
#2) My employer paid for my grad school.

I graduated with zero debt.

 

[pknopp]

I hope he doesn’t. It will just promote schools to charge more.

If you want to solve that issue then stop guaranteeing student loan debt. A student who gets a business degree is a lot more likely to pay off debts than one who gets a degree in music and ends up working at Burger King. Paying $100k for a degree in music is nuts but its even more nuts if you take out $100k worth of debt to pay for it. Colleges charge it because of Gov't approved loans. Stupid. Stupid. Stupid. Stupid.

gotta disagree with you there. Music is one of mankind greatest inventions. Its not necessary to go to school for it but for those with the talent and passion school is where they can take it to the next level and make an impression that may impact the world for centuries to come

And what is the average salary for music degree holders?

Why does that matter?

Because they are borrowing to go to school. Isn’t it irresponsible to let people borrow if they will be in debt forever?

Who said they are being irresponsible? You are the one making the leap. Show where music majors are not paying their loans.

I know a lot of people with regrets about going to school and how much they still owe. A LOT of people.

So what? The small number of people you claim to know is irrelevant. I kinda doubt there are many lawyers, doctors, bankers, etc that wished they had skipped school and became a fry cook.

Yes but there are lots of people asking for this loan forgiveness. If they are happy with their education and how much they paid it’s really dishonest to be asking for forgiveness.

Again, it was dishonest for GM to have their loans forgiven? They are unhappy being an auto manufacturer?

Why should holders of student loans be any different than the markets wanting to see taxpayer money benefit them?

I’m not aware of what you are saying with GM. Two wrongs don’t make a right.

If there is no regret they are happy with their purchase. No need for forgiveness.

If we are going to do wrong and we are, I'm going to support all benefitting.

Well you are wrong there too. I paid for my college. I will get nothing.

Do you have a 401K or investments?

I paid for my college. This would benefit just a few, not all. And it will increase the cost of college for future students. It’s not a plan.

You avoided my question so I will assume that would be a yes that you have investments which mean you have benefitted. You are now pissed that others will.

 

[Brain357]

GM repaid their TARP loan.

The Treasury lost over $11 billion on GM loans.

View attachment 458326


Automotive Industry Financing Program | Eye on the Bailout | ProPublica

I’m not sure they were done repaying at the time of your link...

 

[pknopp]

Most of these people hoping for loan forgiveness must regret spending so much for school.

Did GM regret being an auto manufacturer when they got their loans forgiven?

GM got their loans forgiven? Link that please.

OMG, educate yourself. This has been covered so many times....................it really gets old.

There were bailouts. Not the same as forgiveness. Be specific. What are you referring to here? GM repaid their TARP loan. Where is the forgiveness? You made the statement, you provide the proof.

Educate yourself. I suspect you already know though.

They repaid their TARP loan. Show me otherwise.

You are already aware of the loss. Why do you do this?

General Motors Bailout Cost Taxpayers $11.2 Billion.

 

[Foreigner Looking In.]

"I won't forgive the debt......however if you vote for me in 2024, I promise I will forgive the debt."
You numbnuts fall for this shit in every election.

 

[pknopp]

GM repaid their TARP loan.

The Treasury lost over $11 billion on GM loans.

View attachment 458326


Automotive Industry Financing Program | Eye on the Bailout | ProPublica

I’m not sure they were done repaying at the time of your link...

Be sure or stay on the sidelines.

General Motors Bailout Cost Taxpayers $11.2 Billion.

We lost billions.