Why forgive "student loans" and not all other loans? Why is Biden (democrats) so adamant about it?

[Care4all]

You right this wrong, then students will have a much tougher time getting loans, especially minorities. The credit checks will be much stricter as most lenders would realize as soon as college is over there is a great risk of it not being collected at all.

Not saying that your idea is a bad idea but the effect could cripple future students.

it could curb amounts loaned and to whom, and make banks wiser in loaning practices, like for all other loans... Yes that could happen....

the benefits for all, outweigh the negative imho, like these easy peasy loans by banks causing universities to continually price gouge and raise tuition yearly... higher than the rate of inflation.....don't ya think?

And those students in true need, who would not qualify for a stricter loan by banks, could apply for grants, and we could help those selected, that way....no?

 

[Lesh]

Bottom line is that banks are issuing federally guaranteed loans at MARKET rates.

These are loans that have essentially zero failure rate . All other loans have a failure rate baked into the interest rate.

This is one huge bank scam

 

[progressive hunter]

Not talking about loans. Talking about tax cuts for the rich.
View attachment 800927

then get back on topic and see a doctor about your TDS

 

[progressive hunter]

If it's a needed job, enough to live on.

whats enough to live on??

I need 300 an hr,,

 

[progressive hunter]

We are $31 trillion in debt. Obviously you haven't paid enough.

and you want that to go up by paying off student loans,,

 

[progressive hunter]

And yet it won't and we continue to re-elect those who wont.

whats this we shit?? I never voted for anyone that raised the debt,,

 

[progressive hunter]

No they don't. As I've noted over and over, there was no "reform" associated with the free PPP money.

There was no reform with the billions the corporate farms got for free.



Banks are still getting bailed out.

and you want to make it worse by paying off student loans,, whats next home loans,, then car loans,,, and then what boat loans??

 

[okfine]

The way I see it is this...

Nobody won or lost with the SCOTUS ruling. It was a waste of time brought on by Biden. The loans are still due and need to be paid.

 

[dblack]

I'm willing to give Biden the benefit of the doubt here and assume he recognizes that the students are often the victims. That many have been suckered into crippling debt that they can't repay.

But he's proposing to compensate the victims without addressing the problem, to cover the bad debt, even as new loans are being issued.

And let's be clear. There's no "forgiving" going on here. The banks who made the questionable loans, the schools that took the money in exchange for useless degrees - they'll get their money. Or, rather, your money.

 

[dblack]

Bottom line is that banks are issuing federally guaranteed loans at MARKET rates.

These are loans that have essentially zero failure rate . All other loans have a failure rate baked into the interest rate.

This is one huge bank scam

Is Biden doing anything to end it?

 

[Papageorgio]

Bottom line is that banks are issuing federally guaranteed loans at MARKET rates.

These are loans that have essentially zero failure rate . All other loans have a failure rate baked into the interest rate.

This is one huge bank scam

So, it is the bank's fault that they offer government approved and funded loans that provided added education to many families that credit would otherwise would not get the loans or education? Why would the government sponsor such a scam?

 

[progressive hunter]

So, it is the bank's fault that they offer government approved and funded loans that provided added education to many families that credit would otherwise would not get the loans or education? Why would the government sponsor such a scam?

indoctrination and control is why,,

 

[Papageorgio]

it could curb amounts loaned and to whom, and make banks wiser in loaning practices, like for all other loans... Yes that could happen....

the benefits for all, outweigh the negative imho, like these easy peasy loans by banks causing universities to continually price gouge and raise tuition yearly... higher than the rate of inflation.....don't ya think?

And those students in true need, who would not qualify for a stricter loan by banks, could apply for grants, and we could help those selected, that way....no?

No doubt colleges and universities have been gouging. Maybe by not handing out loans for questionable credit, then the number of people attending higher education will shrink. Plenty of people get grants every year, maybe if costs come down, it will last them longer. College students could maybe then, work their way through college.

 

[BULLDOG]

The floor sweeper? How much should a floor sweeper make? It's a job I can teach someone off the street in 2 minutes.

So do you think less complicated jobs should have a higher tax rate? We aren't talking about how much one might make. We're talking about the percentage of that to be paid in taxes.

 

[Couchpotato]

So do you think less complicated jobs should have a higher tax rate? We aren't talking about how much one might make. We're talking about the percentage of that to be paid in taxes.

A floor sweeper isn’t paying more in taxes than a business. If hes
Making less than 40k a years he’s paying less. If you’re paying a floor sweeper 40k a year you’re a moron.

 

[BULLDOG]

A floor sweeper isn’t paying more in taxes than a business. If hes
Making less than 40k a years he’s paying less. If you’re paying a floor sweeper 40k a year you’re a moron.

Percentge, not total amount, dumbass.

 

[Couchpotato]

Percentge, not total amount, dumbass.

Yeah the corporate tax rate is 21% dumbass. The marginal tax rate and certainly the effective tax rate for under 40k is less than that. That’s all assuming this fictional floor sweeper is single. If he’s married he’d have to make well north of 80k.

 

[CrusaderFrank]

What's different about a "student loan" over any other loan?

Jubilee!!

 

[Couchpotato]

Percentge, not total amount, dumbass.

Federal Income Tax Calculator (2022-2023)

Calculate your federal, state and local taxes for the current filing year with our free income tax calculator. Enter your income and location to estimate your tax burden.

smartasset.com

200k a year, married. 20.87% effective tax rate. Tell me again how your fooor sweeper is paying more than the 21% flat corporate tax rate again.

 

[JWBooth]