Biden on forgiving student loan 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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

But the point is that you have to be able to earn enough money to pay back the loan. I am sure most would love a luxury car but not all can afford it. You want to play music? Do it. You want to borrow $100k plus to pay it back? Show how you will via future earnings.

When we advise on debt to our clients, we make sure they have the pro forma cash flow to repay it. That is how lending works, except for when applying for student loans. You're wrong. Again.

When you advise clients on debt? Clients paying their bills and retirement on the trillions being pumped into the markets? Why should we be paying off their vacation homes?

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

Go study music! Just don't expect me to pay off the debt you accrued to do it.

When are you going to start paying off our $28 trillion in debt?

We are doing it right now. You aren't as you're retired.

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

But the point is that you have to be able to earn enough money to pay back the loan. I am sure most would love a luxury car but not all can afford it. You want to play music? Do it. You want to borrow $100k plus to pay it back? Show how you will via future earnings.

When we advise on debt to our clients, we make sure they have the pro forma cash flow to repay it. That is how lending works, except for when applying for student loans. You're wrong. Again.

When you advise clients on debt? Clients paying their bills and retirement on the trillions being pumped into the markets? Why should we be paying off their vacation homes?

Wrong. I am responsible for my mortgage for example. I am not asking you to pay for it and for me to get approved the Bank needed by W2s, check my personal credit history, appraise the home, etc. If I did not illustrate I could afford the payments I would not get the loan. That is how ALL lending should work.

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

But the point is that you have to be able to earn enough money to pay back the loan. I am sure most would love a luxury car but not all can afford it. You want to play music? Do it. You want to borrow $100k plus to pay it back? Show how you will via future earnings.

When we advise on debt to our clients, we make sure they have the pro forma cash flow to repay it. That is how lending works, except for when applying for student loans. You're wrong. Again.

When you advise clients on debt? Clients paying their bills and retirement on the trillions being pumped into the markets? Why should we be paying off their vacation homes?

Because we elected officials who approved this nonsense. They didn't elect themselves.

 

[Brain357]

Easy to get loans inspires colleges to increase prices...

 

[marvin martian]

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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

Go study music! Just don't expect me to pay off the debt you accrued to do it.

When are you going to start paying off our $28 trillion in debt?

When you people stop electing politicians who waste our money.

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

Go study music! Just don't expect me to pay off the debt you accrued to do it.

When are you going to start paying off our $28 trillion in debt?

When you people stop electing politicians who waste our money.

All politicians do that.

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

Go study music! Just don't expect me to pay off the debt you accrued to do it.

When are you going to start paying off our $28 trillion in debt?

When you people stop electing politicians who waste our money.

All politicians do that.

Not all but seemingly most. The CARES loans were stupid and now we have flooded the system with cash that will ensure inflation. Not sure what we were thinking.

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

Go study music! Just don't expect me to pay off the debt you accrued to do it.

When are you going to start paying off our $28 trillion in debt?

We are doing it right now. You aren't as you're retired.

It's growing.....it is not being paid off.

 

[AzogtheDefiler]

Easy to get loans inspires colleges to increase prices...

That is precisely the case and now professors are paid ridiculous sums for teaching a few classes. If you get a degree that helps you get a job that pays well I can see going into debt but for a degree without a true marketable skill attached to it...see History then its stupid. If you come from money and can get a degree in History without debt and then go to grad school for a law degree, more power to you. But debt is NOT free money.

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

Go study music! Just don't expect me to pay off the debt you accrued to do it.

When are you going to start paying off our $28 trillion in debt?

When you people stop electing politicians who waste our money.

All politicians do that.

Not all but seemingly most. The CARES loans were stupid and now we have flooded the system with cash that will ensure inflation. Not sure what we were thinking.

It was well intentioned, but there were unintended consequences.

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

Go study music! Just don't expect me to pay off the debt you accrued to do it.

When are you going to start paying off our $28 trillion in debt?

We are doing it right now. You aren't as you're retired.

It's growing.....it is not being paid off.

I am paying what I am required to pay. What specifically would you like me to do?

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

Go study music! Just don't expect me to pay off the debt you accrued to do it.

When are you going to start paying off our $28 trillion in debt?

When you people stop electing politicians who waste our money.

All politicians do that.

Not all but seemingly most. The CARES loans were stupid and now we have flooded the system with cash that will ensure inflation. Not sure what we were thinking.

It was well intentioned, but there were unintended consequences.

It was rushed and I am working with clients directly. Forgiving all of student debt is well intentioned too but it is not prudent. These CARES loans were stupid and we did TWO ROUNDS!! CRAZY!

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

But the point is that you have to be able to earn enough money to pay back the loan. I am sure most would love a luxury car but not all can afford it. You want to play music? Do it. You want to borrow $100k plus to pay it back? Show how you will via future earnings.

When we advise on debt to our clients, we make sure they have the pro forma cash flow to repay it. That is how lending works, except for when applying for student loans. You're wrong. Again.

When you advise clients on debt? Clients paying their bills and retirement on the trillions being pumped into the markets? Why should we be paying off their vacation homes?

Wrong. I am responsible for my mortgage for example. I am not asking you to pay for it and for me to get approved the Bank needed by W2s, check my personal credit history, appraise the home, etc. If I did not illustrate I could afford the payments I would not get the loan. That is how ALL lending should work.

You avoided my point. I didn't ask what you did. People are paying their vacation homes off by the trillions the Federal Reserve has been pumping into the markets.

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

But the point is that you have to be able to earn enough money to pay back the loan. I am sure most would love a luxury car but not all can afford it. You want to play music? Do it. You want to borrow $100k plus to pay it back? Show how you will via future earnings.

When we advise on debt to our clients, we make sure they have the pro forma cash flow to repay it. That is how lending works, except for when applying for student loans. You're wrong. Again.

When you advise clients on debt? Clients paying their bills and retirement on the trillions being pumped into the markets? Why should we be paying off their vacation homes?

Wrong. I am responsible for my mortgage for example. I am not asking you to pay for it and for me to get approved the Bank needed by W2s, check my personal credit history, appraise the home, etc. If I did not illustrate I could afford the payments I would not get the loan. That is how ALL lending should work.

You avoided my point. I didn't ask what you did. People are paying their vacation homes off by the trillions the Federal Reserve has been pumping into the markets.

Yes and that is on us for electing officials who allow that to happen.

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

Go study music! Just don't expect me to pay off the debt you accrued to do it.

When are you going to start paying off our $28 trillion in debt?

We are doing it right now. You aren't as you're retired.

It's growing.....it is not being paid off.

I am paying what I am required to pay. What specifically would you like me to do?

Stop your bitching about people not paying all their debt when you and few others are paying off their debt.

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

Go study music! Just don't expect me to pay off the debt you accrued to do it.

When are you going to start paying off our $28 trillion in debt?

We are doing it right now. You aren't as you're retired.

It's growing.....it is not being paid off.

I am paying what I am required to pay. What specifically would you like me to do?

Stop your bitching about people not paying all their debt when you and few others are paying off their debt.

Why? It is a legitimate complaint. I believe our policies are not holding people accountable. Just because we have done so in the past doesn't mean we should continue to do so going forward.

 

[pknopp]

Easy to get loans inspires colleges to increase prices...

That is precisely the case and now professors are paid ridiculous sums for teaching a few classes.

Also stop with the vast generalizations. What you are doing would be me pointing out that Tom Brady got a millions dollars so all business got millions of dollars.

SOme professors get paid very well. Many others do not.

 

[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.

It's NOT your place to decide what is nuts for others. There are many who would choose a life of music even if it meant taking longer to pay off their loans than a corrupt life as a stock broker.

I would miss fewer in music than I ever would in finance. Finance has cost the taxpayers trillions at that.

Go study music! Just don't expect me to pay off the debt you accrued to do it.

When are you going to start paying off our $28 trillion in debt?

We are doing it right now. You aren't as you're retired.

It's growing.....it is not being paid off.

I am paying what I am required to pay. What specifically would you like me to do?

Stop your bitching about people not paying all their debt when you and few others are paying off their debt.

Why? It is a legitimate complaint. I believe our policies are not holding people accountable. Just because we have done so in the past doesn't mean we should continue to do so going forward.

As long as we are not going to hold the millionaires accountable I'm going to advocate for the "little guy". Stop the billions the markets are getting and I'll stop arguing for those with student loans.

 

[AzogtheDefiler]

Easy to get loans inspires colleges to increase prices...

That is precisely the case and now professors are paid ridiculous sums for teaching a few classes.

Also stop with the vast generalizations. What you are doing would be me pointing out that Tom Brady got a millions dollars so all business got millions of dollars.

SOme professors get paid very well. Many others do not.

TB-12 pays for himself. False conflation.