Canceling student loans

[Capco]

I read a good article recently about the rising cost of attending college.  One point they made was that today's students expect a certain kind of college "experience" outside of the classroom.  This persuades universities into purchasing or upgrading a lot of big-ticket items, and most boards of trustees conduct very little oversight on spending.  That spending then drives up tuition.  

The hyper-commodification of higher learning shields itself from scrutiny by hiding behind the pretense that more education is never a bad thing.  

[Doc]

3 minutes ago, SoCal Deek said:

Yes, I’m aware, but you’d mentioned you were amazed that colleges weren’t being held responsible. Other than the fact that sell ridiculously worthless degrees in majors that are a total waste of time, talent and resources, I’m not sure they are the culprit here. 
 

I could’ve almost bought the liberal line of bullshite when they told us banks were preying on the least intelligent among us during the housing bubble….but college students? I thought they were supposed to be most intelligent! No? 

 

I'd say they are a culprit.  Just because you can raise prices doesn't mean you have to/should.  If loanees want to get money back, start there.

[SoCal Deek]

39 minutes ago, Doc said:

 

I'd say they are a culprit.  Just because you can raise prices doesn't mean you have to/should.  If loanees want to get money back, start there.

We’re going to agree to disagree. How does this happen? It happens when the federal government gets involved in the student loan business. To quote you: “start there”. 

[Over 29 years of fanhood]

2 hours ago, SoCal Deek said:

Yes, I’m aware, but you’d mentioned you were amazed that colleges weren’t being held responsible. Other than the fact that sell ridiculously worthless degrees in majors that are a total waste of time, talent and resources, I’m not sure they are the culprit here. 
 

I could’ve almost bought the liberal line of bullshite when they told us banks were preying on the least intelligent among us during the housing bubble….but college students? I thought they were supposed to be most intelligent! No? 

Id posit an individual who opts to take on tremendous debt for a useless degree with no return may be less intelligent than one who does not go to college at all. 
 

This constitutes the bulk of RedTails “educated democrats” he smugly eludes to. 
 

they took on debt to party, learn nothing useful AND are working the same entry level job they would have four years prior. 

Edited August 16, 2023 by Over 29 years of fanhood

[BillsFanNC]

All debts get paid. 

 

Fact.

 

You might as well say spaghetti TV bed kinase to useful idiots.

 

 

 

 

 

[Doc]

Meanwhile the racist universities who get $5B of our taxpayer money annually get off Scot free.

[B-Man]

 

 

 

 

Votes Troy, just for votes.

 

 

 

.

[BillStime]

Let’s go Brandon! 
 

 

[Gregg]

This is all to get votes. Supreme Court won't allow this to pass as they already said no. Pelosi even said Biden can't do this. Why should taxpayers have to pay the bill for another person's loan. They shouldn't and in the end they won't. String the clueless sheep along to Nov to get their vote. That is all.

[The Frankish Reich]

Still illegal. But who has standing to challenge it?

The WSJ nails it.

https://www.wsj.com/articles/joe-biden-student-loan-forgiveness-karine-jean-pierre-supreme-court-7e74383f?mod=hp_opin_pos_1

 

Mr. Biden’s new loan forgiveness is still illegal. The High Court stressed that student loan forgiveness is a major question that requires clear authorization from Congress. But Mr. Biden seems to believe he can jam the courts by automatically forgiving debt before a judge has time to stop him.

The White House says most borrowers won’t even have to apply for loan relief. Sometime before the November election, Mr. Biden will simply declare their debt forgiven. That means a future Congress and a President Trump might be unable to undo the lawless act. Where are the press scolds who warn about a President who threatens democracy?

Mr. Biden is setting an awful precedent that Donald Trump will no doubt exploit. If courts say he can’t re-purpose defense money to build a wall on the southern border, he could simply use another means to do so. The right will cheer him on as the left is Mr. Biden. The rule of law and taxpayers are the losers.

 

By the way, this would cancel student loan debt for borrowers who have been in repayment for 20+ years. It took me more than that to pay off my student loans, but I knew that when I consolidated them into a 30-year repayment plan. That was the point! To make my debt manageable. Which it was, until I decided that it made financial sense to pay off what remained (only about 6K by then) in a lump sum after about 24 years. I was one of the suckers who took my obligations seriously ....

[BillStime]

24 minutes ago, Gregg said:

This is all to get votes. Supreme Court won't allow this to pass as they already said no. Pelosi even said Biden can't do this. Why should taxpayers have to pay the bill for another person's loan. They shouldn't and in the end they won't. String the clueless sheep along to Nov to get their vote. That is all.

 

You didn't mind forgiving PPP loans for people who didn't need it...

 

 

 

 

[SCBills]

No business owner should ever support Democrats. 
 

They’ll shut down your business.  Force you to close your doors (while allowing big corporations to stay open) and then offer you a lifeline for the destruction they caused, only to vilify you for taking it when they want to make a completely unrelated political point. 
 

 

Edited April 9 by SCBills

[BillStime]

8 minutes ago, SCBills said:

No business owner should ever support Democrats. 

 

Laughable. Donald Trump says he supports workers and jobs, but many companies and small businesses have closed because he didn't pay his bills.

 

 

 

[SCBills]

6 minutes ago, BillStime said:

 

Laughable. Donald Trump says he supports workers and jobs, but many companies and small businesses have closed because he didn't pay his bills.

 

 

 

Donald Trump also likely paid for women to get abortions, but I’m not voting for someone based on what they’ve done in their life.

 

He’s better for businesses than Biden’s economy along with Democrat’s unabashed vindictiveness towards us business owners.

 

And he’s better on abortion with his states rights view than super-Catholic Biden that is utterly obsessed with expanding abortion access to levels only seen in countries like North Korea and China.

 

Your post is simply deflection. 
 

Edited April 9 by SCBills

[BillStime]

18 minutes ago, SCBills said:

He’s better for businesses than Biden’s economy along with Democrat’s unabashed vindictiveness towards us business owners.

 

 

Hoax. What did his massive tax cuts do the deficit? Why did Trump's amazing economy need a bailout at the "start" of the pandemic? 

 

19 minutes ago, SCBills said:

And he’s better on abortion with his states rights view than super-Catholic Biden that is utterly obsessed with expanding abortion access to levels only seen in countries like North Korea and China.

 

 

Hoax. In November, women will remind you that Trump is not to be trusted, as if his entire lifetime doesn't already support that.

 

 

[SCBills]

2 minutes ago, BillStime said:

 

Hoax. What did his massive tax cuts do the deficit? Why did Trump's amazing economy need a bailout at the "start" of the pandemic? 

 

 

Hoax. In November, women will remind you that Trump is not to be trusted, as if his entire lifetime doesn't already support that.

 

 

 

Trump’s economy was strong until the pandemic.  Nobody disputes that except people like you. 

 

Im pro-life, so I’m not sure why I care what pro-abortionists think in November.  They are the Democrat base. 
 

He’s not going to win them.  He’s targeting moderates. 

 

 

[Gregg]

5 minutes ago, BillStime said:

 

Hoax. What did his massive tax cuts do the deficit? Why did Trump's amazing economy need a bailout at the "start" of the pandemic? 

 

 

Hoax. In November, women will remind you that Trump is not to be trusted, as if his entire lifetime doesn't already support that.

 

 

 

I think the open border issue with all of these illegals coming here will end up costing Joe in Nov. Americans are really fed up with it. 

[Tommy Callahan]

Eff this. its either a jubilee for all, or it's just a targeted attempt at getting votes from a demographic.

 

 

[njbuff]

Does this mean people that the people who have payed off their student loans get reimbursed? If not, it should, right?

[SCBills]

4 minutes ago, njbuff said:

Does this mean people that the people who have payed off their student loans get reimbursed? If not, it should, right?

No, you see, they had the privilege of working two jobs and sacrificing things like vacations, a new car etc., in order to pay off their student loans.

 

Dont be silly. 

[Gregg]

5 minutes ago, njbuff said:

Does this mean people that the people who have payed off their student loans get reimbursed? If not, it should, right?

 

Don't forget people who paid their mortgages and car loans. They should be reimbursed as well.

[njbuff]

1 minute ago, SCBills said:

No, you see, they had the privilege of working two jobs and sacrificing things like vacations, a new car etc., in order to pay off their student loans.

 

Dont be silly. 

 

I apologize for being naive. 😁

Just now, Gregg said:

 

Don't forget people who paid their mortgages and car loans. They should be reimbursed as well.

 

I should have a ton of money coming back to me then. 

[leh-nerd skin-erd]

2 hours ago, The Frankish Reich said:

Still illegal. But who has standing to challenge it?

The WSJ nails it.

https://www.wsj.com/articles/joe-biden-student-loan-forgiveness-karine-jean-pierre-supreme-court-7e74383f?mod=hp_opin_pos_1

 

Mr. Biden’s new loan forgiveness is still illegal. The High Court stressed that student loan forgiveness is a major question that requires clear authorization from Congress. But Mr. Biden seems to believe he can jam the courts by automatically forgiving debt before a judge has time to stop him.

The White House says most borrowers won’t even have to apply for loan relief. Sometime before the November election, Mr. Biden will simply declare their debt forgiven. That means a future Congress and a President Trump might be unable to undo the lawless act. Where are the press scolds who warn about a President who threatens democracy?

Mr. Biden is setting an awful precedent that Donald Trump will no doubt exploit. If courts say he can’t re-purpose defense money to build a wall on the southern border, he could simply use another means to do so. The right will cheer him on as the left is Mr. Biden. The rule of law and taxpayers are the losers.

 

By the way, this would cancel student loan debt for borrowers who have been in repayment for 20+ years. It took me more than that to pay off my student loans, but I knew that when I consolidated them into a 30-year repayment plan. That was the point! To make my debt manageable. Which it was, until I decided that it made financial sense to pay off what remained (only about 6K by then) in a lump sum after about 24 years. I was one of the suckers who took my obligations seriously ....

So is this illegal of the "No one is above the law" variety, the "No one really cares as long as it's their guy breaking the law" category, the "We're against illegal activity but this is less illegally illegal than what you're guy is doing" category, the "We need the DOJ to knock down some doors and seize some unrelated attorney/client privilege" category, or the "This requires life in prison!" category?   

 

 

1 hour ago, SCBills said:

No business owner should ever support Democrats. 
 

They’ll shut down your business.  Force you to close your doors (while allowing big corporations to stay open) and then offer you a lifeline for the destruction they caused, only to vilify you for taking it when they want to make a completely unrelated political point. 
 

 

Yeah, you can usually tell the people who really need the government to reallocate their debt obligations--they tend to make connections like this.  

[The Frankish Reich]

2 minutes ago, leh-nerd skin-erd said:

So is this illegal of the "No one is above the law" variety, the "No one really cares as long as it's their guy breaking the law" category, the "We're against illegal activity but this is less illegally illegal than what you're guy is doing" category, the "We need the DOJ to knock down some doors and seize some unrelated attorney/client privilege" category, or the "This requires life in prison!" category?   

 

 

Very good.

It is the second type - no one really cares as long as it's their guy breaking the law. In other words, as long as it fits their agenda.

The last two types are quite different, and you know it. For example: a court (maybe even the Supreme one!) tells you to do something, or refrain from doing something, and you say "you and whose army."

[KDIGGZ]

This is all political theater. They are saying they will do this knowing they can't, it will go back to courts to get shot down (again), and then they will blame it on the evil MAGA Republicans so that they can get the young (dumb) votes. This is all nonsense. If you can forgive people's debts then the financial system doesn't exist and our entire economy would collapse

[muppy]

2 minutes ago, leh-nerd skin-erd said:

So is this illegal of the "No one is above the law" variety, the "No one really cares as long as it's their guy breaking the law" category, the "We're against illegal activity but this is less illegally illegal than what you're guy is doing" category, the "We need the DOJ to knock down some doors and seize some unrelated attorney/client privilege" category, or the "This requires life in prison!" category?   

 

 

sup Leo. my daughters college tuition was VERY expensive. But we planned and saved and made she being able to attend a priority. And we were lucky enough to have been able to pay it in full. Also because of my husbands degree in EE.

 

Having said all that if we did a benefits costs ratio you would say she would never fully recover in salary what it cost us to pay for her education. If she had depended on loans she would now be ****** in her life. But it was also her choice to go to the best school in her field. And being on the autism spectrum for she to have not only  but 2 college degrees is HUGE in ways that money becomes not the main factor.

 

anyway just a pipsqueak as usual to PPP. I would have never imagined a government willing to fully pay for my education.

 

I think a huge weight will be lifted for a lot of people. We were blessed to have not needed the help .

 

🙂 hasta lasagna amigo

[leh-nerd skin-erd]

Just now, The Frankish Reich said:

Very good.

It is the second type - no one really cares as long as it's their guy breaking the law. In other words, as long as it fits their agenda.

The last two types are quite different, and you know it. For example: a court (maybe even the Supreme one!) tells you to do something, or refrain from doing something, and you say "you and whose army."

It's only different when you remove objective analysis from the equation. 

 

It's hard to imagine a fresh-faced law student arguing passionately how the laws designed to safeguard our national security are pliable enough to allow to accommodate the barnyard explosion of silliness we have seen with Biden, Clinton and Trump.  I can see an ideologue running with it, or perhaps an experienced and completely cynical attorney who recognizes an uphill political battle where the law isn't really a big deal, but someone who actually cared?   

 

 

[leh-nerd skin-erd]

1 minute ago, muppy said:

sup Leo. my daughters college tuition was VERY expensive. But we planned and saved and made she being able to attend a priority. And we were lucky enough to have been able to pay it in full. Also because of my husbands degree in EE.

 

Having said all that if we did a benefits costs ratio you would say she would never fully recover in salary what it cost us to pay for her education. If she had depended on loans she would now be ****** in her life. But it was also her choice to go to the best school in her field. And being on the autism spectrum for she to have not only  but 2 college degrees is HUGE in ways that money becomes not the main factor.

 

anyway just a pipsqueak as usual to PPP. I would have never imagined a government willing to fully pay for my education.

 

I think a huge weight will be lifted for a lot of people. We were blessed to have not needed the help .

 

🙂 hasta lasagna amigo

Hi Mup,

 

We chose a similar path with our children, and considered it an investment in their future to do so.  However, we had some pretty basic rules.  Attention to their grades and scholastic performance was required.   We focused on state school tuition, room and board, books etc.  Beyond that, it was on them to figure out the math and as it turned out, they did. Part of that math, btw, involved our own commitment to work longer than we might otherwise have to.  

 

We did our level best to guide them, and while we made mistakes, two pieces of critical feedback was shared time and again:

1. No, you can't do that;
2. That doesn't make any sense;

I've known many, many people who followed a similar path, and of course many who didn't.   I have made mistakes on purchases, investments, and some things I thought I knew to be true turned out not to be true after all.  I can understand renegotiating debt, changing the terms of the loan, and in appropriate cases, bankruptcy being considered as an option for students in need.  I can also understand special terms for students with special needs, single parent assistance, and so many other things that address difficult circumstances.  This ain't that.

 

The democrat/Biden plan is to grab votes by treating individuals as simpletons incapable of performing basic math, devaluing higher education and at the same time, doing basically nothing to address a key player in the supposed scheme--colleges/universities/endowments that run in the hundreds of millions--is absurd and as Frankish indicated, illegal.

 

But yes, if President Biden and the democrats offered to relieve a monthly car lease payment, or shift 50% of a person's rent/mortgage to other math-proficient citizens of the community, it does indeed remove a weight of sorts from one party....and places it on another.   The problem there is it blesses some of the wrong people, politically speaking. 

 

 

 

 

 

 

 

 

[Unforgiven]

Catering to the simpletons and moochers of America.

[The Frankish Reich]

1 hour ago, leh-nerd skin-erd said:

It's only different when you remove objective analysis from the equation. 

 

It's hard to imagine a fresh-faced law student arguing passionately how the laws designed to safeguard our national security are pliable enough to allow to accommodate the barnyard explosion of silliness we have seen with Biden, Clinton and Trump.  I can see an ideologue running with it, or perhaps an experienced and completely cynical attorney who recognizes an uphill political battle where the law isn't really a big deal, but someone who actually cared?   

 

 

You forgot Obama.

That "I have a pen and I have a phone" moment opened the floodgates. Oh, those gates had creeped open before, but after that it was "anything goes that I can get away with." And it continued under Trump and now Biden, and there's really no reason to think it will stop under a future administration, whichever one that may be.

[B-Man]

 

 

Senator John Kennedy calls it like he sees it, and this is no exception.

 

 

Biden is of the Obama school of governing in that he sees the Constitution and likely SCOTUS as a barrier. 

 

Not the rule or law of the land. 

 

https://twitchy.com/samj/2024/04/09/john-kennedy-school-loans-n2394897

[njbuff]

21 minutes ago, B-Man said:

 

 

Senator John Kennedy calls it like he sees it, and this is no exception.

 

 

Biden is of the Obama school of governing in that he sees the Constitution and likely SCOTUS as a barrier. 

 

Not the rule or law of the land. 

 

https://twitchy.com/samj/2024/04/09/john-kennedy-school-loans-n2394897

 

John Kennedy is the most brutally honest person in Congress. It's actually refreshing. 

[B-Man]

 

 

 

[BillsFanNC]

More marxist language games.

 

There's no such thing as canceling debt.

 

All. Debts. Are. Paid.

[BillStime]

BOOM!

 

 

[Gregg]

Just now, BillStime said:

BOOM!

 

 

 

BOOM! He didn't cancel a thing. Just transferred the debt to the taxpayers. Loans never get cancelled. Nov can't get here fast enough. 

[B-Man]

 

 

What to know about Biden’s latest attempt at student loan cancellation

by Collin Binkley

 

President Joe Biden is taking another shot at student loan cancellation, hoping to deliver on a key campaign promise that he has so far failed to fulfill.

 

https://apnews.com/article/student-loan-cancellation-debt-college-forgiveness-c3ec59d4c1d89e77bc1afc6c8ded1615?utm_source=Email&utm_medium=share

 

 

.

[BillStime]

2 minutes ago, B-Man said:

 

 

What to know about Biden’s latest attempt at student loan cancellation

by Collin Binkley

 

President Joe Biden is taking another shot at student loan cancellation, hoping to deliver on a key campaign promise that he has so far failed to fulfill.

 

https://apnews.com/article/student-loan-cancellation-debt-college-forgiveness-c3ec59d4c1d89e77bc1afc6c8ded1615?utm_source=Email&utm_medium=share

 

 

.

 

Just awful... why do things for people who could actually benefit?

 

Let's give another of tax cuts to the rich and add trillions to the debt.

 

WHO CARES ABOUT THE LITTLE GUY...

 

 

 

[B-Man]

 

 

 

.

[BillStime]

3 minutes ago, B-Man said:

 

 

 

.