Executive Order to forgive $50,000 in student debt

[Dont Taz Me Bro]

Yeah, and you know who else believed he didn't have the Authority? Obama on DACA, and a few months after openly saying he didn't have the authority to pass things via executive order, he did it anyway.

If Biden signs an EO he'll get challenged in court and I don't see the Trump SCOTUS okaying this authority

 

[Dont Taz Me Bro]

Although I understand the argument for it, I don't think this is the way to handle the problem of the high cost of college education.

It's not. In fact, I would argue it will make college tuition even more expensive than it is now. The way to solve this issue is stop freely doling out easily accessible student loans at astronomical amounts. When the government started "helping" everyone go to college they created this bubble.

Bear in mind, I owe $40k in student loans still because I went all the way through grad school. All of that debt would be wiped out, so I'd benefit from this enormously and I still oppose this.

 

[pknopp]

Although I understand the argument for it, I don't think this is the way to handle the problem of the high cost of college education.

It's not. In fact, I would argue it will make college tuition even more expensive than it is now. The way to solve this issue is stop freely doling out easily accessible student loans at astronomical amounts. When the government started "helping" everyone go to college they created this bubble.

Bear in mind, I owe $40k in student loans still because I went all the way through grad school. All of that debt would be wiped out, so I'd benefit from this enormously and I still oppose this.

The bubble is nowhere near the problem of the financial bubble they created.

 

[Dont Taz Me Bro]

Although I understand the argument for it, I don't think this is the way to handle the problem of the high cost of college education.

It's not. In fact, I would argue it will make college tuition even more expensive than it is now. The way to solve this issue is stop freely doling out easily accessible student loans at astronomical amounts. When the government started "helping" everyone go to college they created this bubble.

Bear in mind, I owe $40k in student loans still because I went all the way through grad school. All of that debt would be wiped out, so I'd benefit from this enormously and I still oppose this.

The bubble is nowhere near the problem of the financial bubble they created.

No doubt, but two wrongs don't make a right. Where does it end? We justify that to do this and then what's next? We're $27 trillion in debt. I've been saying for years our debt is going to cause us major economic problems down the road. How much longer do we have at this rate?

 

[pknopp]

Although I understand the argument for it, I don't think this is the way to handle the problem of the high cost of college education.

It's not. In fact, I would argue it will make college tuition even more expensive than it is now. The way to solve this issue is stop freely doling out easily accessible student loans at astronomical amounts. When the government started "helping" everyone go to college they created this bubble.

Bear in mind, I owe $40k in student loans still because I went all the way through grad school. All of that debt would be wiped out, so I'd benefit from this enormously and I still oppose this.

The bubble is nowhere near the problem of the financial bubble they created.

No doubt, but two wrongs don't make a right. Where does it end? We justify that to do this and then what's next? We're $27 trillion in debt. I've been saying for years our debt is going to cause us major economic problems down the road. How much longer do we have at this rate?

I'm going to support those on the lower end as long as we are give those at the top billions.

 

[Admiral Rockwell Tory]

They should get it back from the universities for their defrauding the govt. with that loan sharking scam, and from every company who ever lied about those totally fictitious 'labor shortages' that misled many to think their majors were economically sound choices. They should also face criminal charges as well. And banks, too, should be seized and their shareholders'personal assets siezed, and refunds distributed.

There are no banks! Learn how the system works before blathering!

Rubbish. They make a killing off of re-financing the debts, at high interest rates, as well as making supplemental loans to students. Learn how not to be clueless and credulous.

I quoted the truth regarding student loans. I am sorry your lack of a GED did not hold up.

You just quoted what other morons think, nothing original. The loans have Federal guarantees and they also re-finance them later on down the road when the McDonalds economy leaves them unable to make normal payments. Whether you know that or not is not my problem, tard.

Wrong answer again! Are you just trolling or stupid?

The William D. Ford Federal Direct Loan Program (also called FDLP, FDSLP, and Direct Loan Program) provides "low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education ... rather than a bank or other financial institution.

Federal Direct Student Loan Program - Wikipedia

en.wikipedia.org

 

[Andylusion]

Yeah, and you know who else believed he didn't have the Authority? Obama on DACA, and a few months after openly saying he didn't have the authority to pass things via executive order, he did it anyway.

If Biden signs an EO he'll get challenged in court and I don't see the Trump SCOTUS okaying this authority

Oh I do. I have zero faith in the SCOTUS. Everyone said the same thing about Obama care, and all the supposedly conservative judged wimped out.

No faith in the supreme court at all. Zero. None. They have lost their minds.

 

[busybee01]

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.

The trouble is that even state colleges have seen huge increases in tuition because Republican governore have cut the amount of money that goes to colleges. A lot of this was never going to be paid anyway so that would be a acknowledgement of reality.

 

[Lesh]

Hey, I went to college... I want $50K of free money for nothing, too.

Now, my entire degree didn’t even cost $50K, I personally borrowed only $2000 to cover those costs, and I had that paid back before I got my first real career job. Why aren’t these worthless shits being expected to pay their debts?

Trump U was that cheap?

 

[San Souci]

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.

Because ALL College students suck. They should WORK their way through college. No freebies.

Who is it working for the billions the fed is pumping into the markets?

Certainly not College punks.

 

[San Souci]

paper Ballots? We will never know

No, YOU will never know, because you have been permanently brain damaged by the orange slob's election lies. The entire world outside the Trump cult knows.

Where is that great plan to disperse the Vaccine that Bad Orange Man GOT for us? Well? Seems to have slowed down. Hmmmmm.... Oh ,yes. The Dems want to impeach an Ex-President. That will really help get the Covid assistance passed.

 

[San Souci]

Although I understand the argument for it, I don't think this is the way to handle the problem of the high cost of college education.

It's not. In fact, I would argue it will make college tuition even more expensive than it is now. The way to solve this issue is stop freely doling out easily accessible student loans at astronomical amounts. When the government started "helping" everyone go to college they created this bubble.

Bear in mind, I owe $40k in student loans still because I went all the way through grad school. All of that debt would be wiped out, so I'd benefit from this enormously and I still oppose this.

Those who take on Debt and have it excused by Gov't decree will be forever dependent ON the Gov't.

 

[Jimmy_Chitwood]

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.

What money?

I'm not a history teacher. If you have had your head buried in the sand for the last few decades, whatever.

it seems you must have been public schooled let help you out

If it's not alone you don't have to pay it back

Now try and keep up and feel free to ask for more help when you need it

 

[Fort Fun Indiana]

Although I understand the argument for it, I don't think this is the way to handle the problem of the high cost of college education.

Well, no, definitely not. This is us being our usual stupid. Welcome to America. We like to put bandaids on broken legs, here. $10,000? Who does that really help, anyway? How is that amortized? standard repayment on $10,000 is about $100/month. If $100/month hurts you, you aren't paying your full student loan payment, anyway. You are almost certainly on an income-based repayment program, which means you won't see a monthly savings, anyway. You would, granted, shed the income-based payment sooner. But again... if that payment stings all that much (it is as low as zero), you have bigger financial problems than this. Go big, or go home, on this one. Do a percentage. Do maybe 1/3 annual 2020 gross income, up to $100K household income. For starters. Maybe a lower percentage for incomes > $100K to $400K.

 

[Oldestyle]

dam.....i wonder if they will get to excusing 50,000 dollars of my mortgage?......

While that is a very good point. . perhaps the solution would be, rather enacting "student loan cancellation," if we could rewind history to the point where the special interests conned both Dems and Repubs to pass legislation to the point where folks could not declare bankruptcy and have those obligations written off and have it reflected on their financial history.

Now. . . I don't know a lot about these issues given my disability and life history, I have never owned property, so feel free to correct me. . . but, if you were in a major car wreck, became a quadriplegic, and could no longer make your note, you could, theoretically, declare bankruptcy and have that mortgage be written off, yes? Didn't Trump himself declare bankruptcy on several properties? Just asking here. . . I don't know everything.


. . . the same would not be true for a med student with several hundred thousand dollars in debt. They would be disabled with that debt for the rest of their disabled lives. The STATE, in it's infinite wisdom given by the banking interests, decided that student loans were not eligible for bankruptcy court because. . . . . . folks that take out those loans are immune to disastrous life events or something? I dunno.



Now, if I have made some errors in logic, please feel free to point them out.

It's a simple concept actually. It makes no sense at all to allow a medical student fresh out of school to declare themselves bankrupt...wipe out all of their debt...and then start a career where they are getting paid huge amounts of money!

 

[Andylusion]

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.

The trouble is that even state colleges have seen huge increases in tuition because Republican governore have cut the amount of money that goes to colleges. A lot of this was never going to be paid anyway so that would be a acknowledgement of reality.

So you'd rather bankrupt the entire state? That spend until bankrupt plan worked well for Detroit.

And by the way, that isn't even remotely true.

You still get a degree for barely $4,800 a year, and yes that is very affordable.

 

[Andylusion]

Although I understand the argument for it, I don't think this is the way to handle the problem of the high cost of college education.

Well, no, definitely not. This is us being our usual stupid. Welcome to America. We like to put bandaids on broken legs, here. $10,000? Who does that really help, anyway? How is that amortized? standard repayment on $10,000 is about $100/month. If $100/month hurts you, you aren't paying your full student loan payment, anyway. You are almost certainly on an income-based repayment program, which means you won't see a monthly savings, anyway. You would, granted, shed the income-based payment sooner. But again... if that payment stings all that much (it is as low as zero), you have bigger financial problems than this. Go big, or go home, on this one. Do a percentage. Do maybe 1/3 annual 2020 gross income, up to $100K household income. For starters. Maybe a lower percentage for incomes > $100K to $400K.

I would argue that you should work a job while in college, and pay your way through. And yes you can do that because I know people who have.

Or you can get a job that has tuition reimbursement, and have that pay your way through. And I know people who did that.

 

[San Souci]

Although I understand the argument for it, I don't think this is the way to handle the problem of the high cost of college education.

Well, no, definitely not. This is us being our usual stupid. Welcome to America. We like to put bandaids on broken legs, here. $10,000? Who does that really help, anyway? How is that amortized? standard repayment on $10,000 is about $100/month. If $100/month hurts you, you aren't paying your full student loan payment, anyway. You are almost certainly on an income-based repayment program, which means you won't see a monthly savings, anyway. You would, granted, shed the income-based payment sooner. But again... if that payment stings all that much (it is as low as zero), you have bigger financial problems than this. Go big, or go home, on this one. Do a percentage. Do maybe 1/3 annual 2020 gross income, up to $100K household income. For starters. Maybe a lower percentage for incomes > $100K to $400K.

Those who can't pay back student loans took nothing useful in College. Like Ethnic History. Just for instance ,mind you. (snicker)

 

[Andylusion]

Hey, I went to college... I want $50K of free money for nothing, too.

Now, my entire degree didn’t even cost $50K, I personally borrowed only $2000 to cover those costs, and I had that paid back before I got my first real career job. Why aren’t these worthless shits being expected to pay their debts?

Trump U was that cheap?

Given how you never have a valid argument, and constantly resort to lame attempts at mocking, I wager you are the one who went to Trump U.

 

[LeftofLeft]

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.

The trouble is that even state colleges have seen huge increases in tuition because Republican governore have cut the amount of money that goes to colleges. A lot of this was never going to be paid anyway so that would be a acknowledgement of reality.

The core trouble is people took on more debt than they should have. Republican or Democrat, it’s time for limits.