Do You Support Forgiving $10,000 Of Student Loan Debt?

[esmith]

It appears that Biden is expected to announce Wed Aug 24th, 2022 that $10,000 of student a loan will be forgiven for those who make less that $150,000 a year.
So basicaly Biden is saying that if you or your family paid off a student loan that they were stupid, that U.S. taxpayers have to pay for someone who signed a contract and if they meet the requirements will have part of what they agreed to pay forgiven.
Wonder how this boondoggle will affect inflation.
Joe Biden expected to announce $10,000 student loan forgiveness program Wednesday: report

 

[Rival]

I find the UK system better.

 

[metis]

Yes, especially in light of the fact that we are competing against counties that pay much more to educate all their people, not just those who have the "almighty $".

 

[VoidCat]

No. I'd support a plan where much more of that debt is forgiven. Or even better have our taxes pay for college instead of us paying 100s of 1,000s of dollars and have colleges be suckering us for more money then needed. I'd rather our taxes pay then us pay in student loans.

 

[PureX]

If we stopped funding the Israeli military, we could send our kids to college for free, like they do, theirs.

 

[PureX]

No. I'd support a plan where much more of that debt is forgiven. Or even better have our taxes pay for college instead of us paying 100s of 1,000s of dollars and have colleges be suckering us for more money then needed. I'd rather our taxes pay then us pay in student loans.

Keep in mind that whenever our taxes pay for something like health care or higher education, we will have to impose price caps to stop the inevitable price-gouging. And the mere mention of price caps will sent the capitalists into total criminal warfare mode.

 

[Secret Chief]

I believe education should not put people into debt in the first place.

 

[Stevicus]

It appears that Biden is expected to announce Wed Aug 24th, 2022 that $10,000 of student a loan will be forgiven for those who make less that $150,000 a year.
So basicaly Biden is saying that if you or your family paid off a student loan that they were stupid, that U.S. taxpayers have to pay for someone who signed a contract and if they meet the requirements will have part of what they agreed to pay forgiven.
Wonder how this boondoggle will affect inflation.
Joe Biden expected to announce $10,000 student loan forgiveness program Wednesday: report

I wish they would have done something like this 30 years ago, but it's all water under the bridge now.

 

[PureX]

10k is nothing compared to what college costs these days.

And higher education is a big positive for society as a whole. A good tax payer investment. God knows we need a better educated public for a whole host of reasons.

 

[Twilight Hue]

It appears that Biden is expected to announce Wed Aug 24th, 2022 that $10,000 of student a loan will be forgiven for those who make less that $150,000 a year.
So basicaly Biden is saying that if you or your family paid off a student loan that they were stupid, that U.S. taxpayers have to pay for someone who signed a contract and if they meet the requirements will have part of what they agreed to pay forgiven.
Wonder how this boondoggle will affect inflation.
Joe Biden expected to announce $10,000 student loan forgiveness program Wednesday: report

Not at all. Why should debt be forgiven??

A person applied for a loan, and agreed to pay it back.

It spits in the face of those who took out loans and payed it back over time in good faith.

Is there something, anything special about this generation or class of people that warrants it as an exception from others before them? Are they exceptional somehow? I'd sure like to know.

 

[Twilight Hue]

I believe education should not put people into debt in the first place.

I think its there to show resolve, discipline, and commitment.

You saturate a field with free education, that field will soon become a dime a dozen wasteland, and occupational quality will degrade thereafter because labor is cheapened and no one will care about giving their best anymore because things were handed to them.

 

[Rival]

In these kinds of countries where you basically must go to university in order to have a job that pays enough to live, it should be free because it's borderline compulsory, and you can't really blame folks for being unemployed at this point if they couldn't afford to go through a training programme that is to all intents and purposes mandatory but costs thousand of pounds.

Back in the day when university was a luxury and not needed by 50%+ of the population it made sense to pay for it, but not now.

Folks shouldn't have to pay to find work and then be pissed on for not being able to find work.

 

[Secret Chief]

I think its there to show resolve, discipline, and commitment.

You saturate a field with free education, that field will soon become a dime a dozen wasteland, and occupational quality will degrade thereafter because labor is cheapened and no one will care about giving their best anymore because things were handed to them.

Not the case in reality eg Europe/Scandinavia. Poor education seems more a problem in the US.

 

[Twilight Hue]

Not the case in reality eg Europe/Scandinavia. Poor education seems more a problem in the US.

Do you really think the US will actually emulate those over the pond in terms of pay and quality of work ?


I'm convinced there is a different mindset over here. Both involving employers and employees.

 

[F1fan]

It appears that Biden is expected to announce Wed Aug 24th, 2022 that $10,000 of student a loan will be forgiven for those who make less that $150,000 a year.
So basicaly Biden is saying that if you or your family paid off a student loan that they were stupid, that U.S. taxpayers have to pay for someone who signed a contract and if they meet the requirements will have part of what they agreed to pay forgiven.

No, you're saying they were stupid.

I wouldn't have a problem with all those other students getting a refund check.

Wonder how this boondoggle will affect inflation.
Joe Biden expected to announce $10,000 student loan forgiveness program Wednesday: report

I doubt it will have a huge impact either way. It will have a positive effect on many who are struggling with inflation.

Don't forget that one reason college costs went up for students over the last 20 years is because Bush cut funding for education, and this included cuts to grants and money to universities. This happened at a time when schools were expanding and improving facilities, so double whammy on students all of a sudden. The reason for the cuts to education were 1. the Bush tax cuts in 2001, and 2. we had to pay for the Afghanistan and Iraq wars in following years. The tax cuts and war means our budget was in huge debt, so education got cut. Then the collapse of the housing market and economy in 2009 capped the mismanagement of the republicans in this era. Obama helped reduce the debt, but this meant little room for more investment in education.

The Trump tax cuts in 2017 have not helped America reduce the deficit, so more investment in education or infrastructure has been contentious.

 

[F1fan]

10k is nothing compared to what college costs these days.

And higher education is a big positive for society as a whole. A good tax payer investment. God knows we need a better educated public for a whole host of reasons.

I think we as a nation need vastly more invested in public education, including public colleges. Leave the big universities to more specific degrees and study.

 

[pearl]

It only covers federal loans, right? And its for students who make less than 100,000 a year?
I see no problem with these. There also ought to be tuition free community colleges.

 

[Twilight Hue]

In these kinds of countries where you basically must go to university in order to have a job that pays enough to live, it should be free because it's borderline compulsory, and you can't really blame folks for being unemployed at this point if they couldn't afford to go through a training programme that is to all intents and purposes mandatory but costs thousand of pounds.

Back in the day when university was a luxury and not needed by 50%+ of the population it made sense to pay for it, but not now.

Folks shouldn't have to pay to find work and then be pissed on for not being able to find work.

Problem is they intentionally rig the 'free education' to allow as few as possible in. Prime example is the Excelsior program here in NY.

There are criteria that must be met to qualify and working class people are all but excluded from even trying unless they quit their jobs and rely on savings just to get a 'free' education. They don't allow any part time weekend college and a GPA must be maintained or your kicked out.

Also the money has got to come from somewhere as someone has to still pay for it.

The mantra of those who payed for college themselves are adamant. "I'm not going to pay for your education, when I had to pay for my own" .

 

[Koldo]

It appears that Biden is expected to announce Wed Aug 24th, 2022 that $10,000 of student a loan will be forgiven for those who make less that $150,000 a year.
So basicaly Biden is saying that if you or your family paid off a student loan that they were stupid, that U.S. taxpayers have to pay for someone who signed a contract and if they meet the requirements will have part of what they agreed to pay forgiven.
Wonder how this boondoggle will affect inflation.
Joe Biden expected to announce $10,000 student loan forgiveness program Wednesday: report

Nope. Not this way. Either give everyone that has and had a debt that much (and earns up to 150k), or don't hand it out to anyone.

 

[PureX]

Not the case in reality eg Europe/Scandinavia. Poor education seems more a problem in the US.

Yeah, here in the US we hate the idea of anyone getting something for nothing. Even when the results are good for everyone. Greed rules our minds and perverts all our opinions and decisions. Mostly it turns us all against each other by making us all life and death competitors. We are a very wealthy nation and yet we live like we're all on the edge of extinction.