Forgive Student Loans?

[DancingOutlaw]

How in the F can you pass an "Inflation Refuction Act" and then sign something that will really raise inflation the next week...

It won’t raise inflation, it’s just the government paying itself. And that’s free money Jack.

 

[DancingOutlaw]

Someone with more knowledge of Pell Grants explain to my why they would qualify for $20K in forgiveness instead of $10K. From what I recall, Pell Grants were available for those below a certain income, etc. and as long as the person graduates they didn't have to be paid back (i.e. they are grants and not loans).

You can get Pell grants and also student loans.

 

[kiddiedoc]

It won’t raise inflation, it’s just the government paying itself. And that’s free money Jack.

I heard the money was going to come from the same place as the magic energy to charge EVs.

 

[ButchPlz]

Relevant image for the discussion at hand:

 

[Orangeslice13]

Translation=

 

[volinbham]

It won’t raise inflation, it’s just the government paying itself. And that’s free money Jack.

well assuming payments were ever going to be resumed it's an extra couple hundred bucks a month of disposable income so it should work it's way into the system eventually

 

[BreatheUT]

Problem is he could have bought land, a house, a car, and gotten the degree for around 10k. 10k in 1960 is the equivalent of 100k today. See the problem?

The real issue may be the out of control tuition. You do see the plush accommodations they are building for housing all the while the education might be getting worse.

Like someone else said, maybe these balances should be written off with the endowments.

 

[K-town Vol Fan]

The real issue may be the out of control tuition.

I don't disagree with that.

 

[RockyTop85]

Ole Larry Tribe chiming in with his usual genius and getting absolutely dragged because of it. As usual

Harvard professor emeritus pummeled online for tweet thanking Biden for student loan handout

The Institute for Free Speech’s Brad Smith made the same point, writing, "Yes, because if there's any group that needs federal financial assistance, it's Harvard Law Grads. (Speaking as one of Prof. Tribe's former students who actually paid back all student loans)."

"Good news for Harvard grads, about time," tweeted the Free Beacon’s Joe Gabriel Simonson.

Watch out. Mrs. Dershowitz is around here somewhere and she won’t stand for anybody disagreeing with a Harvard professor.

 

[BreatheUT]

Someone with more knowledge of Pell Grants explain to my why they would qualify for $20K in forgiveness instead of $10K. From what I recall, Pell Grants were available for those below a certain income, etc. and as long as the person graduates they didn't have to be paid back (i.e. they are grants and not loans).

I'm guess the rationale is sorta the same as a progressive tax.

 

[Majors]

The real issue may be the out of control tuition. You do see the plush accommodations they are building for housing all the while the education might be getting worse.

Like someone else said, maybe these balances should be written off with the endowments.

1200% from 1980 to 2020

 

[kiddiedoc]

I think I deserve $10k + 17 years of interest since I dutifully paid off my debt in a timely manner while living within my means.

 

[BreatheUT]

It might be that the $20k is the amount of a loan that those ELIGIBLE for Pell grants can have forgiven. A separate loan from the Pell grant.

The Pell Grant was free similar to low income based students. There is a cap then you have to go to other sources to pay.

 

[NorthDallas40]

Watch out. Mrs. Dershowitz is around here somewhere and she won’t stand for anybody disagreeing with a Harvard professor.

Pretty certain nobody’s wife or mom is gonna come to the rescue of this level of stupidity in fact I’d guess they jump in on dragging

 

[luthervol]

This thread once again proves that repubs live in debilitating fear that someone will catch a break that they do not catch.

Of course when they catch the break........

 

[Gladiator1]

This thread once again proves that repubs live in debilitating fear that someone will catch a break that they do not catch.

Of course when they catch the break........

Actually, we live up to our responsibilities. Thanks for playing however

 

[NorthDallas40]

This thread once again proves that repubs live in debilitating fear that someone will catch a break that they do not catch.

Of course when they catch the break........

Pretty certain your (lack of) ability to read the room is once again coming into play. This is going to piss off anybody that chose to not attend college due to loan debt or paid off their or their children’s loans regardless of party affiliation. But by all means please keep this kind of pandering stupidity up thru November.

 

[kiddiedoc]

This thread once again proves that repubs live in debilitating fear that someone will catch a break that they do not catch.

Of course when they catch the break........

Every single thing you post is garbage.

We just don't want to have to pay for other people being dumbasses.

 

[utvolpj]

This thread once again proves that repubs live in debilitating fear that someone will catch a break that they do not catch.

Of course when they catch the break........

What break? The govt injected themselves into the college loan program, decimated it, drove borrowers into hugely inflated debt, and then needed to bail them out when it collapsed on itself. We wouldn't be in this mess if people like you would quit pushing for more govt interference in markets

 

[NorthDallas40]

Every single thing you post is garbage.

We just don't want to have to pay for other people being dumbasses.

Ok you said it better than me Doc

 

[StarRaider]

The 20-year argument between Joe Biden and Elizabeth Warren over bankruptcy, explained

Warren’s quarrel with Biden isn’t personal. It’s about a 2005 bankruptcy bill he supported as a senator. The bill made it harder for individuals to file for bankruptcy and get out of debt, a legal change that credit card companies and many major retailers had championed for years. Biden voted yes and was widely seen at the time as one of the bill’s major Democratic champions.

 

[sonofUT62]

The 20-year argument between Joe Biden and Elizabeth Warren over bankruptcy, explained

Warren’s quarrel with Biden isn’t personal. It’s about a 2005 bankruptcy bill he supported as a senator. The bill made it harder for individuals to file for bankruptcy and get out of debt, a legal change that credit card companies and many major retailers had championed for years. Biden voted yes and was widely seen at the time as one of the bill’s major Democratic champions.

Im sure the Senator from Delaware got nothing for championing a bill that benefited companies.

 

[DancingOutlaw]

well assuming payments were ever going to be resumed it's an extra couple hundred bucks a month of disposable income so it should work it's way into the system eventually

This is a schism I enjoy trying to understand. On one hand these people are so poorly off that they cannot afford to pay their loans. On the other hand debt forgiveness will be a massive boon to the economy. The Fed has a paper from 2018 where they estimate the cost of loan debt service has an impact of less than .05 to annual GDP in the last 20 years.

 

[Gladiator1]

Pretty certain your (lack of) ability to read the room is once again coming into play. This is going to piss off anybody that chose to not attend college due to loan debt or paid off their or their children’s loans regardless of party affiliation. But by all means please keep this kind of pandering stupidity up thru November.

I agree but let's remember they are not to blame. Those that take care of themselves are not qualified to be holier-than-thou. We must be submissive to those that rely on others for their inadequacies.

 

[dovervolz]

I think I deserve $10k + 17 years of interest since I dutifully paid off my debt in a timely manner while living within my means.

Now you are gonna pay someone else off. Just like me.