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

[Secret Chief]

That's what entry level jobs are for. Nobody starts out life as a CEO.

You said "most save for their education first." As I said, young people can't do that (they're at school or college). Not everyone ends up a CEO.
Like everything else it seems, you only see things in monetary terms. The price of everything, the value of nothing.

 

[Twilight Hue]

You said "most save for their education first." As I said, young people can't do that (they're at school or college). Not everyone ends up a CEO.
Like everything else it seems, you only see things in monetary terms. The price of everything, the value of nothing.

Let me restate what hopefully is obvious. After high school you get a job. Save for college and then go.

Unless ones parents have payed for their offsprings education, that's the route people took for decades.

 

[Shaul]

President Biden has put forth his latest student loan policy.
FACT SHEET: President Biden Announces Student Loan Relief for Borrowers Who Need It Most - The White House
$20,000 forgiveness is for Pell grantees, $10,000 for others who earn less than $120,000, and continued pause of payments for other loans.

 

[Shaul]

Once again President Biden has shown a total disregard for the middle class and tax payers. He and his fellow Democrats take money from hard working Americans without compunction or slightest care or compassion. A pox on them!

 

[Shadow Wolf]

Kids are different. K to 12 is there to give you the tools to survive in society.

Higher education isn't the same as this is continuing education past the point of the nessessary basic minimum criteria to be a productive and self sustained person able to survive on their own.

Sustain yourself on a HS diploma? That is not likely anymore.

 

[Shadow Wolf]

Once again President Biden has shown a total disregard for the middle class and tax payers. He and his fellow Democrats take money from hard working Americans without compunction or slightest care or compassion. A pox on them!

He just helped the middle class and many tax payers. It's not much, but enough to lower monthly payments and get out of debt faster.
Heavens forbid we help people who are less fortunate.

 

[Twilight Hue]

Sustain yourself on a HS diploma? That is not likely anymore.

That's why there are calls for a living wage which I don't object to anymore.

 

[Secret Chief]

Let me restate what hopefully is obvious. After high school you get a job. Save for college and then go.

Not obviously at all because different countries. In the UK: You go to school to 16. You go to college 17-18. Education up to this point is free. You go to university 18-21. The young person significantly saving before going to university at 18 is not a realistic option given that they are still in fulltime education. Obviously parents typically contribute what they can.

Unless ones parents have payed for their offsprings education, that's the route people took for decades.

Again, not in the UK. When I went to uni the long established system was that we had (means tested) grants (not loans). This meant less well off people were not discriminated against in terms of potential educational achievements. But that probably all sounds like North Korea to you.

 

[Twilight Hue]

He just helped the middle class and many tax payers. It's not much, but enough to lower monthly payments and get out of debt faster.
Heavens forbid we help people who are less fortunate.

All I see is a smile in front with a held out hand, and a stab in the back from the rear taking back what they 'gave'..

 

[Suave]

I'm for making payments manageable, easier on a tight budget, and even complete forgiveness on interest. Free is nice but there are shortcomings and effects from freebies that can and will bite people down the road.

I have lived long enough to note that nothing in life is ever free. Best you can expect is a protracted loan under the guise that it's free.

We should expect tuition free college to more than pay for itself by the resulting better educated workforce earning higher taxable incomes.

"The average college graduate's annual income is $78,000 compared to $45,000 for someone with only a high school education,

Reference: Despite Rising Costs, College Is Still a Good Investment - Liberty Street Economics (newyorkfed.org)

Somebody earning $78k/year on average pays $3,400 per year more in federal taxes than somebody earning $40k/year.

Free Income Tax Calculator - Estimate Your Taxes - SmartAsset

"According to the College Board’s annual “Trends in College Pricing ” report, the average cost of attending a four year college as an in-state student at a public university during the 2020-2021 school year was $10,560, which multiplied over 4 years and factoring 5 percent yearly increases amounts to approximately $45,000 total tuition cost on average, $45,000/$3,400 year means a typical college education would pay off for its tuition costs with higher tax revenues generated by somebody being college educated over the course of just 15 years."

Will Biden Cancel Student Debt? | Page 5 | Religious Forums

 

[Twilight Hue]

We should expect tuition free college to more than pay for itself by the resulting better educated workforce earning higher taxable incomes.

"The average college graduate's annual income is $78,000 compared to $45,000 for someone with only a high school education,

Reference: Despite Rising Costs, College Is Still a Good Investment - Liberty Street Economics (newyorkfed.org)

Somebody earning $78k/year on average pays $3,400 per year more in federal taxes than somebody earning $40k/year.

Free Income Tax Calculator - Estimate Your Taxes - SmartAsset

"According to the College Board’s annual “Trends in College Pricing ” report, the average cost of attending a four year college as an in-state student at a public university during the 2020-2021 school year was $10,560, which multiplied over 4 years and factoring 5 percent yearly increases amounts to approximately $45,000 total tuition cost on average, $45,000/$3,400 year means a typical college education would pay off for its tuition costs with higher tax revenues generated by somebody being college educated over the course of just 15 years."

Will Biden Cancel Student Debt? | Page 5 | Religious Forums

Never believe a job recruiter. They lie.

 

[Shaul]

He just helped the middle class and many tax payers. It's not much, but enough to lower monthly payments and get out of debt faster.
Heavens forbid we help people who are less fortunate.

No he didn’t. He helped rich college plutocrats and bought votes from simple minded low information voters who don’t understand basic economics. He took (stole I would say) money from the public at large to enrich a special interest group. Again I say, a pox upon him and all his enablers.

 

[Secret Chief]

the bitter resentment that characterizes the growing class of selfish Americans, people who think only of themselves.

For me, as a non-American, I have found this forum in the last few years to be quite eye-opening and decidedly depressing to see this kind of attitude displayed. Very sad.

 

[Twilight Hue]

A thought occurred to me. Is this a one time deal? Or is college loan forgiveness a permanent ongoing fixture?

Right before the midterms? Gee...

 

[Shadow Wolf]

No he didn’t. He helped rich college plutocrats and bought votes from simple minded low information voters who don’t understand basic economics. He took (stole I would say) money from the public at large to enrich a special interest group. Again I say, a pox upon him and all his enablers.

The rich aren't even benefiting from this, except other rich people who will get that money instead of Sally Mae because it's more money more people have to spread around.

 

[Shadow Wolf]

Seriously, this "become cripplingly indebted to get better opportunities that still aren'tenough because of this debt, which in the end potentially worsen things" is often found in dystopic and the various-punk subgenre stories, and it's never good.
Why does America tolerate it?

 

[Suave]

No he didn’t. He helped rich college plutocrats and bought votes from simple minded low information voters who don’t understand basic economics. He took (stole I would say) money from the public at large to enrich a special interest group. Again I say, a pox upon him and all his enablers.

Pffft... My family will get ten thousand dollars of student loan debt cancellation for my daughter's college education, and I would hardly consider myself as being a rich college plutocrat; albeit, me being considered as a semi-wealthy college educated partial plutocrat might not be too far off the mark. ,,,

 

[Clizby Wampuscat]

If there were more "vocationally trained" people in the job market their pay would be cut. And they'd be right back where they started. Because some college educated bean-counter with no moral compass will know that he can exploit that "weakness" for a fat profit.

So you think it is better not to have them educated?

 

[Clizby Wampuscat]

We perhaps can agree with student loan debt forgiveness as being fair social justice, because there should have been tuition free college in the first place. Furthermore, those of us who are afforded student loan debt forgiveness will now have more money to spend on consumer goods and services, which will stimulate the economy,

You think it is moral to have me pay for my college, my kids college and your college too while paying more for goods due to the increase in inflation caused by this policy? Basically all you are saying is that now you will have more money to buy stuff for yourself now that others have paid for some of your debt.

 

[esmith]

You are mostly talking about 18 year olds though. These folks barely know how to cook a steak, let alone manage finances and picture what debt really means.

Is that not a problem with public education and parents?