Executive Order to forgive $50,000 in student debt

[Lesh]

Also (and I'm sure someone brought this up - but I'm not reading 435 posts this morning), do people who worked through college and paid their own tuition get the bene? Or just those who went in over their head in debt? What about those who have already paid back their student debt, or refinanced it? Are they just taking one for the team?

Did the thousands of businesses that went bankrupt all get bailed out?

I'm sure all kinds of corrupt bailouts have happened. Again, part of the problem, or part of the solution? Take your pick.

There is no pick.

Are going all metaphysical on me? (there is no spoon) Just to weasel out of a political debate?

Simply stating facts..........

Facts? "There is no pick" isn't a fact. It's a silly quip.

if Bush, Obama, Trump and Biden all have been on board, what exactly do you suggest?

I don't know what previous presidents have to do with the discussion, but I'd suggest we let bankruptcy courts decide who wins. If it's up to Congress or the feds, I know who will win - the folks with the best lobbyists (ie the banks and schools who've been profiting from the student loan gravy train).

Empty rhetoric because you do understand my reason for bringing up the presidents.

No, I don't. It's irrelevant to the discussion.

Neither Bush, Obama or Trump insisted on that. You expect some imaginary being is all of a sudden going to demand it. Solutions that aren't even being proposed is not a solution.

Do people who worked through college and paid their own tuition get the bene? Or just those who went in over their head in debt? What about those who have already paid back their student debt, or refinanced it? Why are the people who were fiscally responsible left out?

I've answered this already. Did every business that made bad decisions get bailed out? No.

How is that fair?

Bailout for those fucked over by the covid response are a different issue. Student loans have nothing to do with covid.

We've been bailing entities out for a long time but yes, it's all the same. Tom Brady's company got a million dollars. How much did the standard student get?

So, it seems your entire argument is: There's lots of stupid, corrupt bailouts, we should have more!

Actually the argument is that you say nothing about bailouts for corporations but are appalled at bailouts that help regular people

 

[blackhawk]

So those who are financially responsible should have to pick up the bill for those who were financially irresponsible personally I call that royally fucked up.

 

[Admiral Rockwell Tory]

If banks and businesses didn't have to pay the money back, I don't see why all should not be held to the same standard.

The banks made bad loans they should be the only ones on the hook for the money

Well, covering the bank's losses is the whole point here, eh?

Already covered. It's not the banks money.

The banks wrote the loans, with their money. They collect the interest payments.

For about the 4th time in this thread, student loans do NOT come from banks. They come from the federal government. Banks have NOTHING to do with this topic. NONE!

Get over yourself, Student loans used to come from banks.
However back in 2010

President Obama will sign a bill today that ends a 45-year-old program under which banks and other private-sector lenders such as Sallie Mae receive a federal subsidy for making government-guaranteed college loans.
Instead, the U.S. Department of Education - which already makes roughly a third of these loans through its direct-lending program - will make 100 percent of them starting July 1.

Feds take over student loan program from banks

With a single lender providing all guaranteed loans, some fear that customer service could...

www.sfgate.com

So, tell me where I was wrong? If you are still paying on student loans from banks, you are a slacker to the maximum!

 

[Lesh]

Ever hear the expression "no skin off my nose"?

It hurts you not at all if student loans are forgiven.

And oh yea...the thread title is bogus. There is no such Executive Order.

 

[Admiral Rockwell Tory]

If banks and businesses didn't have to pay the money back, I don't see why all should not be held to the same standard.

The banks made bad loans they should be the only ones on the hook for the money

Well, covering the bank's losses is the whole point here, eh?

Already covered. It's not the banks money.

The banks wrote the loans, with their money. They collect the interest payments.

For about the 4th time in this thread, student loans do NOT come from banks. They come from the federal government. Banks have NOTHING to do with this topic. NONE!

Before 2011, they most certainly did.

If you have loans from before 2011, you are incompetent to start with!

 

[Lesh]

And oh yea...most student loans are private loans that are Federally guarantied. They are guaranteeing that the BANKS will get repaid...

Are those low interest loans? For the most part they are at market rates but the banks are guaranteed repayment.
ANd oh yea...should you go bankrupt...you still have to pay off these loans.

Talk about a sweet deal

 

[Lesh]

If you have loans from before 2011, you are incompetent to start with!

Que? Care to explain that?

 

[Admiral Rockwell Tory]

Democrats Plan $50,000 Of Student Loan Cancellation By Executive Order

Will your student loans get cancelled? It depends who you ask.

www.forbes.com

Congratulations US Taxpayer, looks like you will get to pick up the $50,000 tab of irresponsible college students and families who took on more debt than they could handle because they felt entitled to go to private elite colleges 3 time zones away and concentrate their studies in useless majors that have no demand in the job market. These students and families who feel entitled to this have the audacity to say they have been “enslaved” or victimized by student debt.

Moving forward, there needs to be more controls in place to qualify students and their families towards state and local institutions and concentrations of study that yield good paying jobs.

Check your race cards and class warfare bullshit at the door.

I think this is much ado about nothing. Contracts cannot be undone by EO. Courts can do it if the contract is shown to be invalid or illegal, but they are going to have to find another way. Lenders will not stand for it.

Did you bother to read the linked article? They're not talking about wiping out loans held by other institutions (yet); they're talking about wiping out loans held by the federal government.

Guaranteed Student Loans issued before 2011 were from banks. If those are off the table, I'd like to see it in writing.

The federal government cannot write off loans to private institutions. What part of that are you simply not getting?

 

[Lesh]

The federal government cannot write off loans to private institutions. What part of that are you simply not getting?

Why not? They guaranteed them in the first place.

 

[Ray From Cleveland]

Ever hear the expression "no skin off my nose"?

It hurts you not at all if student loans are forgiven.

And oh yea...the thread title is bogus. There is no such Executive Order.

The money to repay them has to come from somewhere. We are approaching 28 trillion in debt, and by the time we get there, the Democrats are going to add an additional 2 trillion putting us over 30 trillion in debt. It's skin off everybody's nose.

 

[Lesh]

Ever hear the expression "no skin off my nose"?

It hurts you not at all if student loans are forgiven.

And oh yea...the thread title is bogus. There is no such Executive Order.

The money to repay them has to come from somewhere. We are approaching 28 trillion in debt, and by the time we get there, the Democrats are going to add an additional 2 trillion putting us over 30 trillion in debt. It's skin off everybody's nose.

Amazing how fast the Trumpers did a 180 and became debt scolds.

Happens every time they are OUT of power

 

[dblack]

You argued for fairness. With the last bail out Tom Brady's company got a million dollars while students got nothing. Do you see that as fair?

So any and every fucking government bailout is OK, 'cause Tom Brady'?

If you wish to answer my question, answer it. I'm not addressing you ranting.

Ok, dumbass - I'll answer your question. Let's see, I guess you're talking about this one - "Do you see that as fair?" Answer: no.

Now, getting back to the topic, why should students who chose to go into debt be rewarded for it? (hint: it has nothing to do with Tom Brady)

I've answered that many times. As long as some get bailed out, I support it for all. How many times do I need to answer this?

Fascinating. So, you support free shit for everyone? Doesn't it occur to you that that's not viable? Are you just taking a kind of nihilist position?

Viable? Why not? There are tons of things we aren't paying for. Trump said that the debt is meaningless.

You're a Trumpster now! That would explain the idiotic arguments.

Why address me when you refuse to answer questions concerning your positions? If you really believe something, defend those things. I understand why you can't.

I haven't refused to answer a fucking thing. You're saying that because government has done things that are unfair, they should do more. That's not rational, nor moral.

 

[Ray From Cleveland]

So those who are financially responsible should have to pick up the bill for those who were financially irresponsible personally I call that royally fucked up.

It's the Democrat way. Before Ears, I always got 0% interest credit cards with no transfer fees. The banks made their money off of irresponsible borrowers in increased interest rates and late penalties. Then that idiot rode into the White House, and stopped banks from charging those fees. The banks had no choice but to charge their responsible borrowers instead. I still get 0% interest rate, but anytime I transfer a balance, they charge me a fee based on how much I'm carrying over to the new card.

 

[bripat9643]

You argued for fairness. With the last bail out Tom Brady's company got a million dollars while students got nothing. Do you see that as fair?

So any and every fucking government bailout is OK, 'cause Tom Brady'?

If you wish to answer my question, answer it. I'm not addressing you ranting.

Ok, dumbass - I'll answer your question. Let's see, I guess you're talking about this one - "Do you see that as fair?" Answer: no.

Now, getting back to the topic, why should students who chose to go into debt be rewarded for it? (hint: it has nothing to do with Tom Brady)

I've answered that many times. As long as some get bailed out, I support it for all. How many times do I need to answer this?

Fascinating. So, you support free shit for everyone? Doesn't it occur to you that that's not viable? Are you just taking a kind of nihilist position?

Viable? Why not? There are tons of things we aren't paying for. Trump said that the debt is meaningless.

You win the award for the "dumbest post of the month."

No, free shit for everyone is not viable.

 

[dblack]

Also (and I'm sure someone brought this up - but I'm not reading 435 posts this morning), do people who worked through college and paid their own tuition get the bene? Or just those who went in over their head in debt? What about those who have already paid back their student debt, or refinanced it? Are they just taking one for the team?

Did the thousands of businesses that went bankrupt all get bailed out?

I'm sure all kinds of corrupt bailouts have happened. Again, part of the problem, or part of the solution? Take your pick.

There is no pick.

Are going all metaphysical on me? (there is no spoon) Just to weasel out of a political debate?

Simply stating facts..........

Facts? "There is no pick" isn't a fact. It's a silly quip.

if Bush, Obama, Trump and Biden all have been on board, what exactly do you suggest?

I don't know what previous presidents have to do with the discussion, but I'd suggest we let bankruptcy courts decide who wins. If it's up to Congress or the feds, I know who will win - the folks with the best lobbyists (ie the banks and schools who've been profiting from the student loan gravy train).

Empty rhetoric because you do understand my reason for bringing up the presidents.

No, I don't. It's irrelevant to the discussion.

Neither Bush, Obama or Trump insisted on that. You expect some imaginary being is all of a sudden going to demand it. Solutions that aren't even being proposed is not a solution.

Do people who worked through college and paid their own tuition get the bene? Or just those who went in over their head in debt? What about those who have already paid back their student debt, or refinanced it? Why are the people who were fiscally responsible left out?

I've answered this already. Did every business that made bad decisions get bailed out? No.

How is that fair?

Bailout for those fucked over by the covid response are a different issue. Student loans have nothing to do with covid.

We've been bailing entities out for a long time but yes, it's all the same. Tom Brady's company got a million dollars. How much did the standard student get?

So, it seems your entire argument is: There's lots of stupid, corrupt bailouts, we should have more!

Actually the argument is that you say nothing about bailouts for corporations but are appalled at bailouts that help regular people

Thanks for clarifying. If that's the argument, then it's simply a lie and invalid on that basis.

 

[bripat9643]

Ever hear the expression "no skin off my nose"?

It hurts you not at all if student loans are forgiven.

And oh yea...the thread title is bogus. There is no such Executive Order.

Of course it hurts me, douchebag. Who do you imagine will have to pay off your debt?

You just made it plain why people become leftwingers: they are stupid.

 

[Ray From Cleveland]

Amazing how fast the Trumpers did a 180 and became debt scolds.

Happens every time they are OUT of power

We always were. However at least when Trump spent money, it was on things that benefit the entire country like a stronger military. With the Democrats, it's all about vote buying: Sending money to Pakistan for gender studies, 80 million to the Kennedy center. Taking care of their union friends at the post office and teachers unions, now college kids who generally vote Democrat due to the indoctrination.

 

[bripat9643]

Ever hear the expression "no skin off my nose"?

It hurts you not at all if student loans are forgiven.

And oh yea...the thread title is bogus. There is no such Executive Order.

The money to repay them has to come from somewhere. We are approaching 28 trillion in debt, and by the time we get there, the Democrats are going to add an additional 2 trillion putting us over 30 trillion in debt. It's skin off everybody's nose.

Amazing how fast the Trumpers did a 180 and became debt scolds.

Happens every time they are OUT of power

When did any Trump supporter say he was opposed to allowing people to get away with not paying their debts?

 

[pknopp]

You argued for fairness. With the last bail out Tom Brady's company got a million dollars while students got nothing. Do you see that as fair?

So any and every fucking government bailout is OK, 'cause Tom Brady'?

If you wish to answer my question, answer it. I'm not addressing you ranting.

Ok, dumbass - I'll answer your question. Let's see, I guess you're talking about this one - "Do you see that as fair?" Answer: no.

Now, getting back to the topic, why should students who chose to go into debt be rewarded for it? (hint: it has nothing to do with Tom Brady)

I've answered that many times. As long as some get bailed out, I support it for all. How many times do I need to answer this?

Fascinating. So, you support free shit for everyone? Doesn't it occur to you that that's not viable? Are you just taking a kind of nihilist position?

Viable? Why not? There are tons of things we aren't paying for. Trump said that the debt is meaningless.

You're a Trumpster now! That would explain the idiotic arguments.

Why address me when you refuse to answer questions concerning your positions? If you really believe something, defend those things. I understand why you can't.

I haven't refused to answer a fucking thing. You're saying that because government has done things that are unfair, they should do more. That's not rational, nor moral.

The government is not designed to be fair to all? It was created to look after the needs of the few?

 

[pknopp]

You argued for fairness. With the last bail out Tom Brady's company got a million dollars while students got nothing. Do you see that as fair?

So any and every fucking government bailout is OK, 'cause Tom Brady'?

If you wish to answer my question, answer it. I'm not addressing you ranting.

Ok, dumbass - I'll answer your question. Let's see, I guess you're talking about this one - "Do you see that as fair?" Answer: no.

Now, getting back to the topic, why should students who chose to go into debt be rewarded for it? (hint: it has nothing to do with Tom Brady)

I've answered that many times. As long as some get bailed out, I support it for all. How many times do I need to answer this?

Fascinating. So, you support free shit for everyone? Doesn't it occur to you that that's not viable? Are you just taking a kind of nihilist position?

Viable? Why not? There are tons of things we aren't paying for. Trump said that the debt is meaningless.

You win the award for the "dumbest post of the month."

No, free shit for everyone is not viable.

You failed to answer why not? Trump said debt doesn't matter. Are you willing to pay more taxes to address our $28 trillion in debt?