Interesting Tidbit On Student Loan Forgiveness

[Red Front]

Sorry my little commie buddy, but china is a communist country founded my Mao

So call it a communist country with chinese characteristics

But you are correct that as always the communist dictatorship is not taking care of its people, something communists are supposed to do

No you stupid punk, it doesn't matter if Mao was once the leader of China. China is no longer following Mao, but rather state capitalism. It's a brutal dictatorship that serves vested interests just like the United States. Over 90% of the "Communist Party" of China is comprised of millionaires. There are more millionaires in China's "Communist Party" than in our own Congress. Marxist socialism and communism isn't what you or I say it is, it's what Marx and Engels wrote.

Communism is a stateless society, without socioeconomic classes or the need for money. Is China that? No.

All states are dictatorships. They either serve the interests of the wealthy ruling class or of the public. It's either a small minority of the population that dictates and rules or the majority. I prefer the rule of the majority to a small minority.

 

[Red Front]

No one forced anyone to take a loan they couldn't repay. Adulting is hard, derp!

The asshole, parasite capitalists get bailed out every few years, so the least we can do is lift the burden off of our American workforce and let them build America and compete with China.

 

[Vastator]

The asshole, parasite capitalists get bailed out every few years, so the least we can do is lift the burden off of our American workforce and let them build America and compete with China.

Someone else getting something you want is no excuse for making bad decisions. Adulting is hard...

 

[Red Front]

Didn't have a choice? Damn you may want to look up the word "choice", idiot.

No choice, if they want to go to college. Society should cancel their debt and let them build America without that heavy burden. We need to compete with China, or we're going to get eaten alive. You're a retired old fogie so you don't give a shit about America.

 

[Lisa558]

Federal student loan borrowers are already thinking about what they will do with the money they save should their debt be forgiven. According to the Federal Reserve survey, the majority of borrowers — 57% — say they will use the savings to pay off other debts. That percentage was fairly consistent regardless of age or race/ethnic group.

If Student Loans Are Forgiven, How Will You Spend the Money? Almost Everyone Says They’ll Do This First

Federal student loan borrowers who counted on the Biden administration's loan forgiveness plan to cancel up to $20,000 in debt per borrower will be disappointed if the Supreme Court strikes the plan...

www.yahoo.com

Wait a minute, I thought the whole student loan forgiveness thing was all about they couldn't afford to pay their loans due to the pandemic and inflation? Now they are saying that they could actually afford to pay their loans after all and expect a windfall if they don't have to pay them back anymore and can then use the "saved" money on something else.

IOW, working class people are effectively paying off their car loans or credit card balances of college-educated professionals.

 

[Red Front]

As a couple of posters have pointed out, the deadbeats have not been paying their loans for quite a while. Many of them were not paying their student loans even before the pandemic. So there is no "extra money" for them to pay off other debts, take vacations for anything else.

This is how Americans deal with their income. Non-Americans may be no better, but I see how Americans act. We spend whatever is available, we don't put extra into savings. Some of us have deductions into savings or investments before we see the money, because we would not be disciplined enough to do a monthly budget and put whatever is left over into savings.

I teach school for a living, so I'm not rich. But my wife is a teacher's aide and only brings home just under 1500 per month. I know some aides that have that as their sole income. They end up sharing expenses with another aide, but they get by. Sometimes I see teachers complain about their low pay in front of the aides and I want to smack them.

Anyway, point being, if we decided that "Hey! These student loan deadbeats must also have a hard time making their car note payments, so Uncle Sam should pay those off as well," the students would just spend the "extra" money on . . . stuff. We, the hardworking taxpayers who pay off our vehicles as quickly as possible would have less money to spend on stuff, so that the student loan deadbeats can have more.

It would be no different than paying off their student loan. The whole point of the payoff deal was so that recent college grads (or non-grads), who mainly vote Democrat, can have more stuff, at the expense of hard working taxpayers who mainly vote Republican.

Education is an investment in our nation's future. America needs a well-educated and skilled workforce to rebuild and effectively compete with China. All student debts should be forgiven and our children should be given a chance to succeed in life, under these harsh conditions. The situation is already austere enough, even without heavy student debt.

 

[Lisa558]

You capitalist parasite, leeching off of the labor of others, to generate an income. Who do you think you are? Roll up your sleeves and get to work.

You mean a business owner who developed a useful service or product, and is providing jobs for others alongside that? Before you leftists demonized resourcefulness, initiative, and hard work, that was considered a good thing.

 

[Lisa558]

Education is an investment in our nation's future. America needs a well-educated and skilled workforce to rebuild and effectively compete with China. All student debts should be forgiven and our children should be given a chance to succeed in life, under these harsh conditions. The situation is already austere enough, even without heavy student debt.

Where will we get the money to forgive all these loans? We are already $32T in debt, and taxpayers are struggling to pay inflated grocery ans gas prices.

 

[Lisa558]

No choice, if they want to go to college. Society should cancel their debt and let them build America without that heavy burden. We need to compete with China, or we're going to get eaten alive. You're a retired old fogie so you don't give a shit about America.

Here’s an idea:

1) Start off your first two years at a CC. If you’re lower income, taxpayers will cover the tuition.

2) Get at least a 3.0 average, and transfer to the state u for about a third to a half off tuition.

3) For the final two years, get a part-time job during school and full-time during summer and winter breaks.

Do that, and your debt will be minimal, if any.

 

[Red Front]

Someone else getting something you want is no excuse for making bad decisions. Adulting is hard...

"Adulting" includes forgiving your children after you've screwed them up and allowing them to succeed. If the wealthiest in our society can get bailed out every few years, then our children can too. Education should be tuition free anyways, or at least affordable, so your point is moot.

 

[Lisa558]

No choice, if they want to go to college. Society should cancel their debt and let them build America without that heavy burden. We need to compete with China, or we're going to get eaten alive. You're a retired old fogie so you don't give a shit about America.

And you sound like a young whippersnapper who doesn’t have a clue as to what made America great.

 

[CowboyTed]

To work today in a lot of areas you need a degree or some serious post high school education...

It is the job of the older generation to prepare the next generation to be as productive as they can be in future life...

The US has just commoditised education and fleeced the next generation...

Well done, go back not many generations and you would be considered scum..

 

[Vastator]

"Adulting" includes forgiving your children after you've screwed them up and allowing them to succeed. If the wealthiest in our society can get bailed out every few years, then our children can too. Education should be tuition free anyways, or at least affordable, so your point is moot.

I haven't screwed over MY children. You and those like you aren't MY children. I would never have granted your kind a loan to begin with, and therefore would have nothing to forgive.

And I hate to break it to ya, but nothing in life is free...

 

[Red Front]

Where will we get the money to forgive all these loans? We are already $32T in debt, and taxpayers are struggling to pay inflated grocery ans gas prices.

Lisa, you're so fucking stupid. I already educated you on our monetary system and you choose to continue with your ignorance. Our so-called "national debt" isn't like a household debt, it's more like a ledger of how much money is in the economy (in the private sector). It's a rough estimate of how many dollars are being saved and invested in treasury bonds, in savings and checking accounts, not just here in America, but throughout the world. The US federal government can't go insolvent, it will always have dollars because it is the exclusive issuer of the currency. We have a fiat, sovereign currency, "printed" (typed into a keyboard at the FED, a bank chartered by our congress), by the US federal government.

Whenever the US federal government "balances the budget", we go into a deep recession within two or three years. The government's "red ink" is our "black ink". Balance the US "national debt" and the private sector will go bankrupt. You, people, don't know how our monetary system works, so you continue with this bullshit about our national debt. The only reason we pay taxes is to maintain the value of the dollar and eliminate or reduce inflation. We take money out of the economy.

​

You Republicans and some Dems as well, have no problem spending trillions on defense, stupid wars, and other shit, and then complaining about spending money on what will actually serve the interests of the American people and our economy.

 

[Lisa558]

Lisa, you're so fucking stupid. I already educated you on our monetary system and you choose to continue with your ignorance. Our so-called "national debt" isn't like a household debt, it's more like a ledger of how much money is in the economy (in the private sector). It's a rough estimate of how many dollars are being saved and invested in treasury bonds, in savings and checking accounts, not just here in America, but throughout the world. The US federal government can't go insolvent, it will always have dollars because it is the exclusive issuer of the currency. We have a fiat, sovereign currency, "printed" (typed into a keyboard at the FED, a bank chartered by our congress), by the US federal government.

Whenever the US federal government "balances the budget", we go into a deep recession within two or three years. The government's "red ink" is our "black ink". Balance the US "national debt" and the private sector will go bankrupt. You, people, don't know how our monetary system works, so you continue with this bullshit about our national debt. The only reason we pay taxes is to maintain the value of the dollar and eliminate or reduce inflation. We take money out of the economy.

​

You Republicans and some Dems as well, have no problem spending trillions on defense, stupid wars, and other shit, and then complaining about spending money on what will actually serve the interests of the American people and our economy.

I stopped reading when you called me “fucking stupid.”

You are clueless.

 

[Lisa558]

For the idiot libtards who think we can keep borrowing trillions upon trillions without problem, and are willing to be educated:

U.S. National Debt Surpasses $30 Trillion: What This Means For You

On Feb. 1, the U.S. Treasury Department reported that the U.S. gross national debt surpassed $30 trillion for the first time, a figure that’s incomprehensible at the best of times, let alone when many Americans are still dealing with the economic impact of the coronavirus pandemic. But as unfatho

www.forbes.com

Risks and Threats from Deficits and Debt | Committee for a Responsible Federal Budget

After two decades of uninterrupted borrowing – including three years in which deficits surpassed 10 percent of the economy – the U.S.

www.crfb.org

 

[Dadoalex]

Federal student loan borrowers are already thinking about what they will do with the money they save should their debt be forgiven. According to the Federal Reserve survey, the majority of borrowers — 57% — say they will use the savings to pay off other debts. That percentage was fairly consistent regardless of age or race/ethnic group.

If Student Loans Are Forgiven, How Will You Spend the Money? Almost Everyone Says They’ll Do This First

Federal student loan borrowers who counted on the Biden administration's loan forgiveness plan to cancel up to $20,000 in debt per borrower will be disappointed if the Supreme Court strikes the plan...

www.yahoo.com

Wait a minute, I thought the whole student loan forgiveness thing was all about they couldn't afford to pay their loans due to the pandemic and inflation? Now they are saying that they could actually afford to pay their loans after all and expect a windfall if they don't have to pay them back anymore and can then use the "saved" money on something else.

The real issue, the real reason the GQP opposes it is because it will cost banks $4B a year in interest and fees.

 

[Dadoalex]

For the idiot libtards who think we can keep borrowing trillions upon trillions without problem, and are willing to be educated:

U.S. National Debt Surpasses $30 Trillion: What This Means For You

On Feb. 1, the U.S. Treasury Department reported that the U.S. gross national debt surpassed $30 trillion for the first time, a figure that’s incomprehensible at the best of times, let alone when many Americans are still dealing with the economic impact of the coronavirus pandemic. But as unfatho

www.forbes.com

Risks and Threats from Deficits and Debt | Committee for a Responsible Federal Budget

After two decades of uninterrupted borrowing – including three years in which deficits surpassed 10 percent of the economy – the U.S.

www.crfb.org

Eliminate the Bush and Trump tax cuts
Tax investment income as regular income
Raise the limit on SS & Medicare taxes to $1M

Then we'll discuss cutting military spending

 

[Ralph Norton]

The real issue, the real reason the GQP opposes it is because it will cost banks $4B a year in interest and fees.

No dumb ass, the real reason is: PAY YOUR DAMN DEBTS, LOSERS.

 

[Lisa558]

The real issue, the real reason the GQP opposes it is because it will cost banks $4B a year in interest and fees.

Private banks can’t initiate federal STAFFORD loans. Obama took it over, buried in the Obamacare bill nobody read.