JDHillFan Posted July 18, 2024 Posted July 18, 2024 2 minutes ago, Backintheday544 said: It’s the 8th circuit putting an emergency stay on it. you can read the entire ruling here: https://storage.courtlistener.com/recap/gov.uscourts.ca8.109302/gov.uscourts.ca8.109302.805045608.0.pdf It’ll take you 10 seconds. its interesting as this is for the SAVE plan. Presidents in the past have been allowed to change plans. Bush, Trump and Obama all did it. This is now destined for the Supreme Court. Would totally change student loans if the SC finds the President cant change plans. I think the interest part of this ruling that the other court rulings didn’t do was it blocked the cap on monthly repayment at 5 percent from the 10 percent it was (depending on plan). Toss everyone’s loans on administrative forbearance into SCOTUS determines. Gets everyone closer to their 10 or 20 years without making payments. This highlight to the several million voters that Republicans just made their monthly student loan payment increase. Biden also announced another $2 billion in PSFL forgiveness today. Also this effects $5.5 billion of the $168.5 billion forgiven. In short, you believe the 8th circuit is wrong. Got it.
Backintheday544 Posted July 18, 2024 Posted July 18, 2024 14 minutes ago, JDHillFan said: In short, you believe the 8th circuit is wrong. Got it. They granted a stay. I can’t disagree with any argument saying Biden is wrong because they haven’t ruled it. It probably sucks for the people who had cancellation since their debt would be at max $12,000 I believe, but overall 97 percent of Biden’s student loan forgiveness is still granted.
B-Man Posted May 25 Posted May 25 Vote 'buying' is costly. Biden Forgives Student Loans and ... Behold, Defaults Skyrocket Stephen Moore Here's an economics lesson that belongs in the textbooks. Student loan debt soared to more than $1.5 trillion during the Biden presidency, and the response by Washington was to "forgive" hundreds of billions of these unpaid loans by deadbeat borrowers and let the taxpayers pick up the tab. It was never clear why the universities that charge exorbitant tuitions that have reached more than $75,000 a year at many elite schools shouldn't bear the cost of the program -- but that's another story. Those of us who watched these events unfold predicted that one result of this policy would be that many college graduates would stop paying back their loans. And guess what? Just like clockwork, this headline from Bloomberg recently told the whole story: "Student Loans Drive US delinquency Rate to Highest Since 2020." Gee, who -- except a bunch of head-in-the-sand politicians in Washington -- would have ever thought that forgiving as many people from paying their student loans as possible would increase future nonpayments? Well, the Biden administration, for one. Now that the Department of Education is honestly reporting the data, we find that serious delinquency rates are over 10 times what the Biden Department of Education said they were. There is an old saying in physics and economics: Every action in the universe has a reaction. How many students in the future will pay back unpaid student loans when the next forgiveness program is right around the corner? So people who did the right thing and paid back their debts now have to pay more for the people who refused to pay back the money they owed. https://hotair.com/stephen-moore/2025/05/25/biden-forgives-student-loans-and-behold-defaults-skyrocket-n3803085 2
Doc Posted May 25 Posted May 25 34 minutes ago, B-Man said: Vote 'buying' is costly. Biden Forgives Student Loans and ... Behold, Defaults Skyrocket Stephen Moore Here's an economics lesson that belongs in the textbooks. Student loan debt soared to more than $1.5 trillion during the Biden presidency, and the response by Washington was to "forgive" hundreds of billions of these unpaid loans by deadbeat borrowers and let the taxpayers pick up the tab. It was never clear why the universities that charge exorbitant tuitions that have reached more than $75,000 a year at many elite schools shouldn't bear the cost of the program -- but that's another story. Those of us who watched these events unfold predicted that one result of this policy would be that many college graduates would stop paying back their loans. And guess what? Just like clockwork, this headline from Bloomberg recently told the whole story: "Student Loans Drive US delinquency Rate to Highest Since 2020." Gee, who -- except a bunch of head-in-the-sand politicians in Washington -- would have ever thought that forgiving as many people from paying their student loans as possible would increase future nonpayments? Well, the Biden administration, for one. Now that the Department of Education is honestly reporting the data, we find that serious delinquency rates are over 10 times what the Biden Department of Education said they were. There is an old saying in physics and economics: Every action in the universe has a reaction. How many students in the future will pay back unpaid student loans when the next forgiveness program is right around the corner? So people who did the right thing and paid back their debts now have to pay more for the people who refused to pay back the money they owed. https://hotair.com/stephen-moore/2025/05/25/biden-forgives-student-loans-and-behold-defaults-skyrocket-n3803085 That's what I've been saying for years. Get it back from the institutions who got it. And another lesson: government involvement always increases prices. Always. BTW, on a good note, my son will end up paying about $19K/year for law school, at a top-20 school no less. He got a $17K/year merit-based scholarship and when he went for accepted students day they told him to establish residency during his first year and then get in-state tuition for the remaining 2. 4 1
thenorthremembers Posted May 26 Posted May 26 (edited) 11 minutes ago, CoudyBills said: What a mess. Parents, don't lead your teenagers astray. I've probably said it in this thread once or maybe twice, but student loans have been the boulder tied to my ankle since my twenties. I went to a state school so mine weren't terrible, 40,000 when all said and done. My wife went to Nazareth for Music Therapy. Close to 170,000k for her degree. We got married with 210,000k in student loans. We are down to 40,000k but I am in my forties. We are blessed that I have a great job. But by the time I am done paying for our educations, it will be time for my kids to go to college. Edited May 26 by thenorthremembers 1
CoudyBills Posted May 26 Posted May 26 1 minute ago, thenorthremembers said: I've probably said it in this thread once or maybe twice, but student loans have been the boulder tied to my ankle since my twenties. I went to a state school so mine weren't terrible, 40,000 when all said and done. My wife went to Nazareth for Music Therapy. Close to 170,000k for her degree. We got married with 210,000k in student loans. We are down to 40,000k but I am in my forties. We are blessed that I have a great job. But by the time I am done paying for our educations, it will be time for my kids to go to college. I hear you man. My wife and I, thankfully, got out with only 60k in student loans. My sister on the other hand, 140k, and she will be in debt for most of her life as a result. 1
Doc Brown Posted May 26 Posted May 26 3 minutes ago, thenorthremembers said: I've probably said it in this thread once or maybe twice, but student loans have been the boulder tied to my ankle since my twenties. I went to a state school so mine weren't terrible, 40,000 when all said and done. My wife went to Nazareth for Music Therapy. Close to 170,000k for her degree. We got married with 210,000k in student loans. We are down to 40,000k but I am in my forties. We are blessed that I have a great job. But by the time I am done paying for our educations, it will be time for my kids to go to college. It's a cost benefit analysis though. Would your net worth be more or less if you both didn't go to college?
leh-nerd skin-erd Posted May 26 Posted May 26 4 minutes ago, thenorthremembers said: I've probably said it in this thread once or maybe twice, but student loans have been the boulder tied to my ankle since my twenties. I went to a state school so mine weren't terrible, 40,000 when all said and done. My wife went to Nazareth for Music Therapy. Close to 170,000k for her degree. We got married with 210,000k in student loans. We are down to 40,000k but I am in my forties. We are blessed that I have a great job. But by the time I am done paying for our educations, it will be time for my kids to go to college. Honestly can’t wrap my head around that sort of commitment and repayment schedule. Good luck! We were fortunate—SUNY schools, some grants and reasonable cost. Good jobs post graduation and no confusion on who was obligated to repay the debt. When our children went to school, our plan was to pay for their education and we were fortunate enough to be able to do it. My one concern was skin in the game and the kids appreciating the investment. Thankfully, they got it, understood it and appreciated it. 1 1
thenorthremembers Posted May 27 Posted May 27 16 hours ago, Doc Brown said: It's a cost benefit analysis though. Would your net worth be more or less if you both didn't go to college? It differs for us. My wife has worked in not for profit most of her career. There are people at insurance companies with no degree mkaing what she does. My job was all opportunity. I went to school to be an English teacher and ended up working in medical device regulatory affairs. Fifteen years later and Ive been able to move up the ladder. To answer your original question. If we both worked in the field we went to school for, teaching and music therapy, we'd be making 70k combined with 210k in debt. I got very lucky meeting someone in the field I am in now that saw something in me. Otherwise we'd be broke.
unbillievable Posted May 27 Posted May 27 2 hours ago, thenorthremembers said: It differs for us. My wife has worked in not for profit most of her career. There are people at insurance companies with no degree mkaing what she does. My job was all opportunity. I went to school to be an English teacher and ended up working in medical device regulatory affairs. Fifteen years later and Ive been able to move up the ladder. To answer your original question. If we both worked in the field we went to school for, teaching and music therapy, we'd be making 70k combined with 210k in debt. I got very lucky meeting someone in the field I am in now that saw something in me. Otherwise we'd be broke. Sounds like you and your wife went to college to get your MR and MRS degrees. 😆 2
JDHillFan Posted July 15 Posted July 15 4 hours ago, Homelander said: Mikel bringing it strong! Powerful take! 1
AlBUNDY4TDS Posted July 15 Posted July 15 6 hours ago, Homelander said: What has the department of education done to help students? It's a failure. If Biden did it, you would applaud it. 2
ChiGoose Posted July 15 Posted July 15 4 hours ago, AlBUNDY4TDS said: What has the department of education done to help students? It's a failure. If Biden did it, you would applaud it. It is pretty crucial for families in need, kids with developmental delays, teacher training, research, protecting civil rights, and setting minimum standards, among other things. One of the reasons it exists is because without federal administration and funding, some states either could not, or would not do these things, leading to increased disparity in opportunities for kids and students. Before it was elevated to a cabinet level department, it was founded as the Office of Education as part of reconstruction to ensure civil rights in education. Even now, one of its functions is to disburse funds to low-income students through Title I. With the Civil Rights Act of 1964 and Title VI, it is in charge of prohibiting racial discrimination because federal funds are involved. Without the Department of Education, states can stop providing for these programs and will have an easier time discriminating against populations. Which I think is the point. 2
AlBUNDY4TDS Posted July 15 Posted July 15 26 minutes ago, ChiGoose said: It is pretty crucial for families in need, kids with developmental delays, teacher training, research, protecting civil rights, and setting minimum standards, among other things. One of the reasons it exists is because without federal administration and funding, some states either could not, or would not do these things, leading to increased disparity in opportunities for kids and students. Before it was elevated to a cabinet level department, it was founded as the Office of Education as part of reconstruction to ensure civil rights in education. Even now, one of its functions is to disburse funds to low-income students through Title I. With the Civil Rights Act of 1964 and Title VI, it is in charge of prohibiting racial discrimination because federal funds are involved. Without the Department of Education, states can stop providing for these programs and will have an easier time discriminating against populations. Which I think is the point. Overall testing scores have plummeted since the creation of the department. We are lagging behind so many countries in key areas. I'd say it's a complete failure. 1
ChiGoose Posted July 15 Posted July 15 5 hours ago, AlBUNDY4TDS said: Overall testing scores have plummeted since the creation of the department. We are lagging behind so many countries in key areas. I'd say it's a complete failure. So screw kids with disabilities or development delays, or in low-income households / areas? Stop enforcing civil rights in the education space? It really feels like much of MAGA is "I don't like the status quo but instead of trying to actually fix anything, I'd like to burn the house to the ground and make everything worse."
Albwan Posted July 15 Posted July 15 It's gotten to the point where lefties whining is like listening to Chihuahuas yipping nonstop. 1
Recommended Posts