Executive Order to forgive $50,000 in student debt

[SC Patriot]

It is not an issue of bailout, it is an issue of fairness.

True, but it is also a question of rewarding fiscal irresponsibility. One of the primary lessons I learned from my father was to live within your means and avoid debt if at all possible. It was a question of honor and integrity to pay off your debts, and those who didn't do that were viewed as unreliable - obviously something you didn't want to be known for. It was seen as a question of character to live responsibly and not be a burden on anyone else; a person's self esteem and the esteem of others were tied to that concept. So, you avoided taking on a debt if you could, and if you couldn't then you were duty-bound to pay it off.

Younger generations do not seem to hold that same idea. Nowadays, nobody cares. And a policy of paying off student debts just adds to the notion that being a responsible person is no big deal cuz the gov't will take care of it so no problem, right? I don't think that notion is good for "The Soul of America". Where is the honor and integrity in passing on our national debt to future generations? SOMEBODY ends up paying for what we over-spend on today, sooner or later the interest payments grow to be so large that we can't cover the rest of our federal gov'ts obligations, what happens then?

You are assuming that many are not paying off their loans.

Are you willing to pay more in taxes to cover our $28 trillion debt?

No one is assuming they are not paying off their loans. That is a diversion from reality.
Most are.
The problem is, many of us did not go through FASFA....we went with HELOCS. Likewise, many of us did not want to pay the 10 years of interest and instead sacrificed to pay it off sooner.
If We were aware that we would have those loans forgiven, we would have taken out FASFA loans and made the minimum payment each month.
Lets look short term:

My wife and have an account where we deposit 250 a month to my granddaughters education. An automatic ACH by our investment frim. My son and daughter in law match it...so over the past 3 years, there is now 18K saved for her education plus the increase in market....about 22K. Good for us. Can we afford it? Yes. Would I prefer a bigger boat instead? Yes. But we are doing what we can to meet the needs of my granddaughters education 15 years from now.

In the meantime, my neighbor (not factual, but for a point to be made) takes that 500 a month and vacations, buys what he/she wants and will worry about the grandkids education when the time comes.

So in 15 years, I pay in full for my grandaughters education, and my neighbor (with a bigger boat) takes out a loan.

My neighbor pays his monthly bill for 6 months and then is told...."dont worry about it. You and Your neighbor down the block will pay higher taxes to cover your debt"

Did my neighbor do anything wrong? No. Never said he did.

Was I screwed?

You tell me.

 

[pknopp]

It is not an issue of bailout, it is an issue of fairness.

True, but it is also a question of rewarding fiscal irresponsibility. One of the primary lessons I learned from my father was to live within your means and avoid debt if at all possible. It was a question of honor and integrity to pay off your debts, and those who didn't do that were viewed as unreliable - obviously something you didn't want to be known for. It was seen as a question of character to live responsibly and not be a burden on anyone else; a person's self esteem and the esteem of others were tied to that concept. So, you avoided taking on a debt if you could, and if you couldn't then you were duty-bound to pay it off.

Younger generations do not seem to hold that same idea. Nowadays, nobody cares. And a policy of paying off student debts just adds to the notion that being a responsible person is no big deal cuz the gov't will take care of it so no problem, right? I don't think that notion is good for "The Soul of America". Where is the honor and integrity in passing on our national debt to future generations? SOMEBODY ends up paying for what we over-spend on today, sooner or later the interest payments grow to be so large that we can't cover the rest of our federal gov'ts obligations, what happens then?

You are assuming that many are not paying off their loans.

Are you willing to pay more in taxes to cover our $28 trillion debt?

No one is assuming they are not paying off their loans. That is a diversion from reality.
Most are.
The problem is, many of us did not go through FASFA....we went with HELOCS. Likewise, many of us did not want to pay the 10 years of interest and instead sacrificed to pay it off sooner.
If We were aware that we would have those loans forgiven, we would have taken out FASFA loans and made the minimum payment each month.
Lets look short term:

My wife and have an account where we deposit 250 a month to my granddaughters education. An automatic ACH by our investment frim. My son and daughter in law match it...so over the past 3 years, there is now 18K saved for her education plus the increase in market....about 22K. Good for us. Can we afford it? Yes. Would I prefer a bigger boat instead? Yes. But we are doing what we can to meet the needs of my granddaughters education 15 years from now.

In the meantime, my neighbor (not factual, but for a point to be made) takes that 500 a month and vacations, buys what he/she wants and will worry about the grandkids education when the time comes.

So in 15 years, I pay in full for my grandaughters education, and my neighbor (with a bigger boat) takes out a loan.

My neighbor pays his monthly bill for 6 months and then is told...."dont worry about it. You and Your neighbor down the block will pay higher taxes to cover your debt"

Did my neighbor do anything wrong? No. Never said he did.

Was I screwed?

You tell me.

My daughter is in her second year of college. As soon as she was born we started paying into the states pre-paid college program. Her college is covered because we paid for it. Its not about me.

 

[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.

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?

I haven't seen any evidence that Trump said any such thing. Economics is what you can't give everyone unlimited free shit.

 

[task0778]

pknopp: " You are assuming that many are not paying off their loans. "

Dude! They're talking about forgiving approx $1.6 trillion in student loan debt. SOMEBODY isn't paying off their loan!


pknopp: " Are you willing to pay more in taxes to cover our $28 trillion debt? "

I'm not willing to pay for somebody else's debts. If you sign a loan contract to borrow X dollars for a student loan or any other reason, then that's totally on you to pay it off, not me or anyone else.

 

[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?

I haven't seen any evidence that Trump said any such thing. Economics is what you can't give everyone unlimited free shit.

And yet that is exactly what we do.........for some.

 

[SC Patriot]

It is not an issue of bailout, it is an issue of fairness.

True, but it is also a question of rewarding fiscal irresponsibility. One of the primary lessons I learned from my father was to live within your means and avoid debt if at all possible. It was a question of honor and integrity to pay off your debts, and those who didn't do that were viewed as unreliable - obviously something you didn't want to be known for. It was seen as a question of character to live responsibly and not be a burden on anyone else; a person's self esteem and the esteem of others were tied to that concept. So, you avoided taking on a debt if you could, and if you couldn't then you were duty-bound to pay it off.

Younger generations do not seem to hold that same idea. Nowadays, nobody cares. And a policy of paying off student debts just adds to the notion that being a responsible person is no big deal cuz the gov't will take care of it so no problem, right? I don't think that notion is good for "The Soul of America". Where is the honor and integrity in passing on our national debt to future generations? SOMEBODY ends up paying for what we over-spend on today, sooner or later the interest payments grow to be so large that we can't cover the rest of our federal gov'ts obligations, what happens then?

You are assuming that many are not paying off their loans.

Are you willing to pay more in taxes to cover our $28 trillion debt?

No one is assuming they are not paying off their loans. That is a diversion from reality.
Most are.
The problem is, many of us did not go through FASFA....we went with HELOCS. Likewise, many of us did not want to pay the 10 years of interest and instead sacrificed to pay it off sooner.
If We were aware that we would have those loans forgiven, we would have taken out FASFA loans and made the minimum payment each month.
Lets look short term:

My wife and have an account where we deposit 250 a month to my granddaughters education. An automatic ACH by our investment frim. My son and daughter in law match it...so over the past 3 years, there is now 18K saved for her education plus the increase in market....about 22K. Good for us. Can we afford it? Yes. Would I prefer a bigger boat instead? Yes. But we are doing what we can to meet the needs of my granddaughters education 15 years from now.

In the meantime, my neighbor (not factual, but for a point to be made) takes that 500 a month and vacations, buys what he/she wants and will worry about the grandkids education when the time comes.

So in 15 years, I pay in full for my grandaughters education, and my neighbor (with a bigger boat) takes out a loan.

My neighbor pays his monthly bill for 6 months and then is told...."dont worry about it. You and Your neighbor down the block will pay higher taxes to cover your debt"

Did my neighbor do anything wrong? No. Never said he did.

Was I screwed?

You tell me.

My daughter is in her second year of college. As soon as she was born we started paying into the states pre-paid college program. Her college is covered because we paid for it. Its not about me.

No. Its not about you. It is about those that do not take responsibility for themselves and make commitments and then vote to have people like you and mail assist them in bailing themselves out.

 

[pknopp]

It is not an issue of bailout, it is an issue of fairness.

True, but it is also a question of rewarding fiscal irresponsibility. One of the primary lessons I learned from my father was to live within your means and avoid debt if at all possible. It was a question of honor and integrity to pay off your debts, and those who didn't do that were viewed as unreliable - obviously something you didn't want to be known for. It was seen as a question of character to live responsibly and not be a burden on anyone else; a person's self esteem and the esteem of others were tied to that concept. So, you avoided taking on a debt if you could, and if you couldn't then you were duty-bound to pay it off.

Younger generations do not seem to hold that same idea. Nowadays, nobody cares. And a policy of paying off student debts just adds to the notion that being a responsible person is no big deal cuz the gov't will take care of it so no problem, right? I don't think that notion is good for "The Soul of America". Where is the honor and integrity in passing on our national debt to future generations? SOMEBODY ends up paying for what we over-spend on today, sooner or later the interest payments grow to be so large that we can't cover the rest of our federal gov'ts obligations, what happens then?

You are assuming that many are not paying off their loans.

Are you willing to pay more in taxes to cover our $28 trillion debt?

No one is assuming they are not paying off their loans. That is a diversion from reality.
Most are.
The problem is, many of us did not go through FASFA....we went with HELOCS. Likewise, many of us did not want to pay the 10 years of interest and instead sacrificed to pay it off sooner.
If We were aware that we would have those loans forgiven, we would have taken out FASFA loans and made the minimum payment each month.
Lets look short term:

My wife and have an account where we deposit 250 a month to my granddaughters education. An automatic ACH by our investment frim. My son and daughter in law match it...so over the past 3 years, there is now 18K saved for her education plus the increase in market....about 22K. Good for us. Can we afford it? Yes. Would I prefer a bigger boat instead? Yes. But we are doing what we can to meet the needs of my granddaughters education 15 years from now.

In the meantime, my neighbor (not factual, but for a point to be made) takes that 500 a month and vacations, buys what he/she wants and will worry about the grandkids education when the time comes.

So in 15 years, I pay in full for my grandaughters education, and my neighbor (with a bigger boat) takes out a loan.

My neighbor pays his monthly bill for 6 months and then is told...."dont worry about it. You and Your neighbor down the block will pay higher taxes to cover your debt"

Did my neighbor do anything wrong? No. Never said he did.

Was I screwed?

You tell me.

My daughter is in her second year of college. As soon as she was born we started paying into the states pre-paid college program. Her college is covered because we paid for it. Its not about me.

No. Its not about you. It is about those that do not take responsibility for themselves and make commitments and then vote to have people like you and mail assist them in bailing themselves out.

Again, you are assuming they are not paying off their loans.

Is what you are complaining about exactly what Trump did with the farmers? Gave them billions to make sure he got their vote?

 

[SC Patriot]

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?

I haven't seen any evidence that Trump said any such thing. Economics is what you can't give everyone unlimited free shit.

And yet that is exactly what we do.........for some.

And that is the point.

Yes, for some. That is how it is supposed to be. Help those that cant help themselves...whether it be a disability, an unexpected loss of a spouse, a natural disaster.

But we are slowly becoming a nation where we help those that CAN help themselves. becuase they toss the dice and enjoy life the best their finances allow and when the shit hits the fan, they turn to the rest of us to bail them out

That is the problem.

 

[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?

I haven't seen any evidence that Trump said any such thing. Economics is what you can't give everyone unlimited free shit.

And yet that is exactly what we do.........for some.

And that is the point.

Yes, for some. That is how it is supposed to be. Help those that cant help themselves...whether it be a disability, an unexpected loss of a spouse, a natural disaster.

But we are slowly becoming a nation where we help those that CAN help themselves. becuase they toss the dice and enjoy life the best their finances allow and when the shit hits the fan, they turn to the rest of us to bail them out

That is the problem.

How is it that Tom Brady couldn't help himself?

Investment banks will all go bust without the continued pumping of the Federal Reserve?

 

[SC Patriot]

It is not an issue of bailout, it is an issue of fairness.

True, but it is also a question of rewarding fiscal irresponsibility. One of the primary lessons I learned from my father was to live within your means and avoid debt if at all possible. It was a question of honor and integrity to pay off your debts, and those who didn't do that were viewed as unreliable - obviously something you didn't want to be known for. It was seen as a question of character to live responsibly and not be a burden on anyone else; a person's self esteem and the esteem of others were tied to that concept. So, you avoided taking on a debt if you could, and if you couldn't then you were duty-bound to pay it off.

Younger generations do not seem to hold that same idea. Nowadays, nobody cares. And a policy of paying off student debts just adds to the notion that being a responsible person is no big deal cuz the gov't will take care of it so no problem, right? I don't think that notion is good for "The Soul of America". Where is the honor and integrity in passing on our national debt to future generations? SOMEBODY ends up paying for what we over-spend on today, sooner or later the interest payments grow to be so large that we can't cover the rest of our federal gov'ts obligations, what happens then?

You are assuming that many are not paying off their loans.

Are you willing to pay more in taxes to cover our $28 trillion debt?

No one is assuming they are not paying off their loans. That is a diversion from reality.
Most are.
The problem is, many of us did not go through FASFA....we went with HELOCS. Likewise, many of us did not want to pay the 10 years of interest and instead sacrificed to pay it off sooner.
If We were aware that we would have those loans forgiven, we would have taken out FASFA loans and made the minimum payment each month.
Lets look short term:

My wife and have an account where we deposit 250 a month to my granddaughters education. An automatic ACH by our investment frim. My son and daughter in law match it...so over the past 3 years, there is now 18K saved for her education plus the increase in market....about 22K. Good for us. Can we afford it? Yes. Would I prefer a bigger boat instead? Yes. But we are doing what we can to meet the needs of my granddaughters education 15 years from now.

In the meantime, my neighbor (not factual, but for a point to be made) takes that 500 a month and vacations, buys what he/she wants and will worry about the grandkids education when the time comes.

So in 15 years, I pay in full for my grandaughters education, and my neighbor (with a bigger boat) takes out a loan.

My neighbor pays his monthly bill for 6 months and then is told...."dont worry about it. You and Your neighbor down the block will pay higher taxes to cover your debt"

Did my neighbor do anything wrong? No. Never said he did.

Was I screwed?

You tell me.

My daughter is in her second year of college. As soon as she was born we started paying into the states pre-paid college program. Her college is covered because we paid for it. Its not about me.

No. Its not about you. It is about those that do not take responsibility for themselves and make commitments and then vote to have people like you and mail assist them in bailing themselves out.

Again, you are assuming they are not paying off their loans.

Is what you are complaining about exactly what Trump did with the farmers? Gave them billions to make sure he got their vote?

wow.

My post started off making it clear that my assumption is they ARE paying off their loans....and I explained that in detail.

SO you obviously ignored what I wrote and opted to simply rant about Trump. I dont go there.

SO I am done with you.

Cya.

 

[Ray From Cleveland]

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?

If we all had to pay a tax for the debt, you'd see how fast we could get congressional spending under control.

 

[dblack]

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?

That's not my position. If it's yours, then I suppose that's where we disagree.

 

[dblack]

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?

I'm not getting why you're ignoring guaranteed student loans, issued before 2011, which were issued by banks and that the government will cover. If the proposal doesn't cover those, then it's not a concern, but I've seen no indication that it doesn't.

 

[pknopp]

It is not an issue of bailout, it is an issue of fairness.

True, but it is also a question of rewarding fiscal irresponsibility. One of the primary lessons I learned from my father was to live within your means and avoid debt if at all possible. It was a question of honor and integrity to pay off your debts, and those who didn't do that were viewed as unreliable - obviously something you didn't want to be known for. It was seen as a question of character to live responsibly and not be a burden on anyone else; a person's self esteem and the esteem of others were tied to that concept. So, you avoided taking on a debt if you could, and if you couldn't then you were duty-bound to pay it off.

Younger generations do not seem to hold that same idea. Nowadays, nobody cares. And a policy of paying off student debts just adds to the notion that being a responsible person is no big deal cuz the gov't will take care of it so no problem, right? I don't think that notion is good for "The Soul of America". Where is the honor and integrity in passing on our national debt to future generations? SOMEBODY ends up paying for what we over-spend on today, sooner or later the interest payments grow to be so large that we can't cover the rest of our federal gov'ts obligations, what happens then?

You are assuming that many are not paying off their loans.

Are you willing to pay more in taxes to cover our $28 trillion debt?

No one is assuming they are not paying off their loans. That is a diversion from reality.
Most are.
The problem is, many of us did not go through FASFA....we went with HELOCS. Likewise, many of us did not want to pay the 10 years of interest and instead sacrificed to pay it off sooner.
If We were aware that we would have those loans forgiven, we would have taken out FASFA loans and made the minimum payment each month.
Lets look short term:

My wife and have an account where we deposit 250 a month to my granddaughters education. An automatic ACH by our investment frim. My son and daughter in law match it...so over the past 3 years, there is now 18K saved for her education plus the increase in market....about 22K. Good for us. Can we afford it? Yes. Would I prefer a bigger boat instead? Yes. But we are doing what we can to meet the needs of my granddaughters education 15 years from now.

In the meantime, my neighbor (not factual, but for a point to be made) takes that 500 a month and vacations, buys what he/she wants and will worry about the grandkids education when the time comes.

So in 15 years, I pay in full for my grandaughters education, and my neighbor (with a bigger boat) takes out a loan.

My neighbor pays his monthly bill for 6 months and then is told...."dont worry about it. You and Your neighbor down the block will pay higher taxes to cover your debt"

Did my neighbor do anything wrong? No. Never said he did.

Was I screwed?

You tell me.

My daughter is in her second year of college. As soon as she was born we started paying into the states pre-paid college program. Her college is covered because we paid for it. Its not about me.

No. Its not about you. It is about those that do not take responsibility for themselves and make commitments and then vote to have people like you and mail assist them in bailing themselves out.

Again, you are assuming they are not paying off their loans.

Is what you are complaining about exactly what Trump did with the farmers? Gave them billions to make sure he got their vote?

wow.

My post started off making it clear that my assumption is they ARE paying off their loans....and I explained that in detail.

SO you obviously ignored what I wrote and opted to simply rant about Trump. I dont go there.

SO I am done with you.

Cya.

You speak out of both sides of your mouth.

is about those that do not take responsibility for themselves.....

 

[pknopp]

It is not an issue of bailout, it is an issue of fairness.

True, but it is also a question of rewarding fiscal irresponsibility. One of the primary lessons I learned from my father was to live within your means and avoid debt if at all possible. It was a question of honor and integrity to pay off your debts, and those who didn't do that were viewed as unreliable - obviously something you didn't want to be known for. It was seen as a question of character to live responsibly and not be a burden on anyone else; a person's self esteem and the esteem of others were tied to that concept. So, you avoided taking on a debt if you could, and if you couldn't then you were duty-bound to pay it off.

Younger generations do not seem to hold that same idea. Nowadays, nobody cares. And a policy of paying off student debts just adds to the notion that being a responsible person is no big deal cuz the gov't will take care of it so no problem, right? I don't think that notion is good for "The Soul of America". Where is the honor and integrity in passing on our national debt to future generations? SOMEBODY ends up paying for what we over-spend on today, sooner or later the interest payments grow to be so large that we can't cover the rest of our federal gov'ts obligations, what happens then?

You are assuming that many are not paying off their loans.

Are you willing to pay more in taxes to cover our $28 trillion debt?

No one is assuming they are not paying off their loans. That is a diversion from reality.
Most are.
The problem is, many of us did not go through FASFA....we went with HELOCS. Likewise, many of us did not want to pay the 10 years of interest and instead sacrificed to pay it off sooner.
If We were aware that we would have those loans forgiven, we would have taken out FASFA loans and made the minimum payment each month.
Lets look short term:

My wife and have an account where we deposit 250 a month to my granddaughters education. An automatic ACH by our investment frim. My son and daughter in law match it...so over the past 3 years, there is now 18K saved for her education plus the increase in market....about 22K. Good for us. Can we afford it? Yes. Would I prefer a bigger boat instead? Yes. But we are doing what we can to meet the needs of my granddaughters education 15 years from now.

In the meantime, my neighbor (not factual, but for a point to be made) takes that 500 a month and vacations, buys what he/she wants and will worry about the grandkids education when the time comes.

So in 15 years, I pay in full for my grandaughters education, and my neighbor (with a bigger boat) takes out a loan.

My neighbor pays his monthly bill for 6 months and then is told...."dont worry about it. You and Your neighbor down the block will pay higher taxes to cover your debt"

Did my neighbor do anything wrong? No. Never said he did.

Was I screwed?

You tell me.

My daughter is in her second year of college. As soon as she was born we started paying into the states pre-paid college program. Her college is covered because we paid for it. Its not about me.

No. Its not about you. It is about those that do not take responsibility for themselves and make commitments and then vote to have people like you and mail assist them in bailing themselves out.

Again, you are assuming they are not paying off their loans.

Is what you are complaining about exactly what Trump did with the farmers? Gave them billions to make sure he got their vote?

wow.

My post started off making it clear that my assumption is they ARE paying off their loans....and I explained that in detail.

SO you obviously ignored what I wrote and opted to simply rant about Trump. I dont go there.

SO I am done with you.

Cya.

You speak out of both sides of your mouth.

is about those that do not take responsibility for themselves.....

 

[Concerned American]

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?

I'm not getting why you're ignoring guaranteed student loans, issued before 2011, which were issued by banks and that the government will cover. If the proposal doesn't cover those, then it's not a concern, but I've seen no indication that it doesn't.

This discussion would be moot if everyone would just agree that when you commit to borrow AND pay back a sum with interest, you make the decision yourself with no coercion. The fact that after you receive the benefit you choose to default should land your parasite ass in prison or your wages should be garnished. The borrower signed their name and all other parties lived up to their commitments--now it is the borrower who must perform.

 

[Orangecat]

 

[pknopp]

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?

That's not my position. If it's yours, then I suppose that's where we disagree.

I understand, you aren't interested in fair.

 

[dblack]

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?

I'm not getting why you're ignoring guaranteed student loans, issued before 2011, which were issued by banks and that the government will cover. If the proposal doesn't cover those, then it's not a concern, but I've seen no indication that it doesn't.

This discussion would be moot if everyone would just agree that when you commit to borrow AND pay back a sum with interest, you make the decision yourself with no coercion. The fact that after you receive the benefit you choose to default should land your parasite ass in prison or your wages should be garnished. The borrower signed their name and all other parties lived up to their commitments--now it is the borrower who must perform.

I do think there's a valid case for "predatory lending", on the part of the government and the schools that wanted the money (and were willing to throw students under the bus to get it). But that's not what this is about. This is being pursued by Democrats because it's one step away from their bigger soapbox issue of "free college".

 

[dblack]

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?

That's not my position. If it's yours, then I suppose that's where we disagree.

I understand, you aren't interested in fair.

Fuck you troll. You've been disingenuous in our every exchange. Piss off.