Biden's Student Loan Debt Forgiveness

#26
#26
I have a friend who told me about a month ago that a coworker told her she needs to check her student loan balance. She checked and it had been wiped out. It was more than $20,000. She said apparently there was this non-profit clause in the student loan pause that allowed the Biden administration to cancel the debt for those non-profit employees even if they had not been loyal on their payments and were in deferment by crediting them as if they made payments over the last few years while they weren't making payments. Her and her husband earn well into the 6 figures. This would also include high earners like doctors and executives in many fields. Meanwhile countless other people that are struggling couldn’t qualify.
 
#27
#27
BreatheUT said:
I have a friend who told me about a month ago that a coworker told her she needs to check her student loan balance. She checked and it had been wiped out. It was more than $20,000. She said apparently there was this non-profit clause in the student loan pause that allowed the Biden administration to cancel the debt for those non-profit employees even if they had not been loyal on their payments and were in deferment by crediting them as if they made payments over the last few years while they weren't making payments. Her and her husband earn well into the 6 figures. This would also include high earners like doctors and executives in many fields. Meanwhile countless other people that are struggling couldn’t qualify.
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That’s socialism for you. THEY pick the winners and losers.
 
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#28
#28
Vol737 said:
That’s socialism for you. THEY pick the winners and losers.
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Exactly. She doesn't even like Biden but could not convince herself that it was wrong to receive debt forgiveness. The argument wasn't whether or not she should've been happy about it because I would've taken it too. It's not like someone is going to say no thanks you can take it back. Selective handouts make some accept socialism.
 
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#29
#29
BreatheUT said:
I have a friend who told me about a month ago that a coworker told her she needs to check her student loan balance. She checked and it had been wiped out. It was more than $20,000. She said apparently there was this non-profit clause in the student loan pause that allowed the Biden administration to cancel the debt for those non-profit employees even if they had not been loyal on their payments and were in deferment by crediting them as if they made payments over the last few years while they weren't making payments. Her and her husband earn well into the 6 figures. This would also include high earners like doctors and executives in many fields. Meanwhile countless other people that are struggling couldn’t qualify.
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Vote buying. That's what it is
 
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#34
#34
whodeycin85 said:
Not sure he has read the constitution
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..... or even listens to the SCOTUS. Biden takes a daily dump & then wipes his butt on the Constitution and then spits into the eye of our SCOTUS decisions. This man is a total disgrace to his lunatic radical party & a total disgrace to the citizens of America.
 
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#36
#36
W.TN.Orange Blood said:
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Good. Those student loans are predatory. 17/18 year olds don't know what they're getting themselves into. A buddy of mine graduated 50k in debt, signed up for an IBR plan so payments are manageable, no issue, right? Well he makes around 50k and fast forward 10 years now owes over 70k because of interest. Making on time payments. That's just not right.
 
#37
#37
whodeycin85 said:
Not sure he has read the constitution
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You all do know that all he is doing is enforcing previously approved (bipartisan) legislation to write off loans for disabled and public service....

I think the lack of reading extends well beyond Biden and the Constitution
 
#39
#39
K-town Vol Fan said:
Good. Those student loans are predatory. 17/18 year olds don't know what they're getting themselves into. A buddy of mine graduated 50k in debt, signed up for an IBR plan so payments are manageable, no issue, right? Well he makes around 50k and fast forward 10 years now owes over 70k because of interest. Making on time payments. That's just not right.
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Guess they learned a quick life lesson.
 
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#42
#42
K-town Vol Fan said:
Good. Those student loans are predatory. 17/18 year olds don't know what they're getting themselves into. A buddy of mine graduated 50k in debt, signed up for an IBR plan so payments are manageable, no issue, right? Well he makes around 50k and fast forward 10 years now owes over 70k because of interest. Making on time payments. That's just not right.
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It sounds like your friend is either quite stupid or quite gullible.
Why should taxpayers again bear the burden of bailing out those who made unwise financial decisions?
 
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#43
#43
K-town Vol Fan said:
Good. Those student loans are predatory. 17/18 year olds don't know what they're getting themselves into. A buddy of mine graduated 50k in debt, signed up for an IBR plan so payments are manageable, no issue, right? Well he makes around 50k and fast forward 10 years now owes over 70k because of interest. Making on time payments. That's just not right.
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And it isn’t MY problem either Chief. Why should MY tax dollars fund his degree? And it sounds like a complete waste of money if all that degree can earn is $50K/year anyway.
 
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#44
#44
K-town Vol Fan said:
Good. Those student loans are predatory. 17/18 year olds don't know what they're getting themselves into. A buddy of mine graduated 50k in debt, signed up for an IBR plan so payments are manageable, no issue, right? Well he makes around 50k and fast forward 10 years now owes over 70k because of interest. Making on time payments. That's just not right.
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That's kinda how loans work....

No different than if he borrowed $50K to buy a truck. You have to pay it back with interest.
 
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#45
#45
K-town Vol Fan said:
Good. Those student loans are predatory. 17/18 year olds don't know what they're getting themselves into. A buddy of mine graduated 50k in debt, signed up for an IBR plan so payments are manageable, no issue, right? Well he makes around 50k and fast forward 10 years now owes over 70k because of interest. Making on time payments. That's just not right.
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so u see this "buddy" everytime you look in a mirror.... amirite?
 
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#47
#47
BigOrangeMojo said:
This isn't a unilateral spending decision. It's enforcing the laws that Congress has previously passed relating to disabled student and public service loam forgiveness....
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The Biden Administration has bastardized it.
 
#50
#50
BigOrangeMojo said:
That's kinda how loans work....

No different than if he borrowed $50K to buy a truck. You have to pay it back with interest.
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This.. nobody is going to loan you money without receiving something in return (probably not even your family) lol..loans are by their nature ‘predatory’, but a necessary type of transaction in society.. and as someone dealing with two in college right now, you would not take out a lunp some of 50k all at once, not being able to pay it back, it would be semesters of compounding stupidity… so I feel zero empathy… you made your life choices.. you fix them
 
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