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  • #16
    Originally posted by The White Coat Investor View Post
    It's clearly bad policy, but that doesn't mean it won't happen. All these student loan payment extensions are basically the same thing. I mean, if you've got $200K in 6% loans, you're basically getting $12K+ (the + is for the time value of money) a year forgiven right now.

    My guess is $10K. That's what the president has said all along. The nice thing about $10K it it makes a huge difference for those on the bottom end, dramatically reduces the number of indebted people without helping docs and other high earners much at all.
    Yeap, I think 10K is a good amount. It just incentive to restart full force and not slammed with all the borrowers who cannot pay.

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    • #17
      fwiw as the resident lefty i find blanket student loan forgiveness to be very bad policy unless it's married to some kind of omnibus which would have to include a few things
      • massive, heavy-handed federal regulation of how higher ed sets prices and is paid for
      • some kind of look back so the person who just sent in a check for $100k to pay off their loans isn't just totally hosed, maybe some kind of tax credit moving forward
      it does strike me that there are 2 other valuable lessons to draw from this discussion
      • for a host of reasons the dems are looking at very bad electoral prospects, no one should be shocked by the kind of hail-mary policy making. i think we are way, way, way past pretending like anyone actually cares about spending at this point. and i mean anyone.
      • this is a really good example of an area where america has just stubbornly refused to solve a basic and immensely solvable problem, for all of the endless chest thumping we actually suck at doing simple things that we kind of have to do. we need doctors, lawyers, engineers, teachers and architects. so how do we produce them? federally subsidized loans to private companies that function as a guild and charge usurious prices. we're #1!
      my man ENT Doc has really helped me appreciate that this is an issue where there is truly plenty of blame to go around.

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      • #18
        Why not give everyone 10k? Who cares about student loans.

        tax the rich and hand out cash!

        Comment


        • #19
          Originally posted by udrag14 View Post

          Yeap, I think 10K is a good amount. It just incentive to restart full force and not slammed with all the borrowers who cannot pay.
          10k has been the other number he's mentioned numerous times. Including when he was on the campaign trail. I think it will be 10k. Not significant for most on WCI.
          Helping student loan borrowers manage their student loans. StudentLoanAdvice.com. [email protected]

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          • #20
            I voted on hopium of 0% interest for foreseeable future

            Comment


            • #21
              Originally posted by MPMD View Post
              [*]for a host of reasons the dems are looking at very bad electoral prospects, no one should be shocked by the kind of hail-mary policy making. i think we are way, way, way past pretending like anyone actually cares about spending at this point. and i mean anyone.
              They're on a collision course for a very bad midterm cycle. I would wager the younger crowd with college degrees aren't who they should be going after.

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              • #22
                Originally posted by CordMcNally View Post

                They're on a collision course for a very bad midterm cycle. I would wager the younger crowd with college degrees aren't who they should be going after.
                i don't think they have any other options.

                dem coalition is broad but doesn't vote, GOP coalition is narrow (especially now) but will turn out for dog-catcher. has been that way for decades. this fact actually provides me with a great deal of political zen.

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                • #23
                  Originally posted by CordMcNally View Post

                  I imagine Chief Adversity Officer and Chief Equality Officer positions pay pretty well.
                  You joke, but the Chief Diversity, Equity, and Inclusion (DEI) Officer, or the equivalent, at many companies pays way more than you or I will ever see.

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                  • #24
                    Originally posted by MPMD View Post
                    fwiw as the resident lefty i find blanket student loan forgiveness to be very bad policy unless it's married to some kind of omnibus which would have to include a few things
                    • massive, heavy-handed federal regulation of how higher ed sets prices and is paid for
                    • some kind of look back so the person who just sent in a check for $100k to pay off their loans isn't just totally hosed, maybe some kind of tax credit moving forward
                    it does strike me that there are 2 other valuable lessons to draw from this discussion
                    • for a host of reasons the dems are looking at very bad electoral prospects, no one should be shocked by the kind of hail-mary policy making. i think we are way, way, way past pretending like anyone actually cares about spending at this point. and i mean anyone.
                    • this is a really good example of an area where america has just stubbornly refused to solve a basic and immensely solvable problem, for all of the endless chest thumping we actually suck at doing simple things that we kind of have to do. we need doctors, lawyers, engineers, teachers and architects. so how do we produce them? federally subsidized loans to private companies that function as a guild and charge usurious prices. we're #1!
                    my man ENT Doc has really helped me appreciate that this is an issue where there is truly plenty of blame to go around.
                    You are NOT a resident and you are NOT a Lefty.
                    You only support solutions and are willing to consider alternatives and also will consider/demand improvements.
                    Your religious beliefs are “Faith of Common Sense”.

                    Comment


                    • #25
                      Who cares what the puppet Biden wants to do? It’s illegal. Nancy Pelosi just said so for Christ’s sake. Whatever happens, it’ll be another bad policy decision on top of a long line of bad policy decisions.

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                      • #26
                        [QUOTE=Nancy Pelosi just said so for Christ’s sake.[/QUOTE]

                        1) Source please
                        2) So if she says something, it must be true? She's not in the judicial system of our gov, last I checked...

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                        • #27
                          Originally posted by drmka26 View Post

                          1) Source please
                          2) So if she says something, it must be true? She's not in the judicial system of our gov, last I checked...
                          I suggest ignoring and not engaging. There are 5 or 6 users here that can't help but be absurdly political, and he's one of em- really does a disservice to these topics that clearly do have political pieces in play but can be discussed civilly until the absurdism comes out and derails any productive discussion.

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                          • #28
                            productive discussion? we’re guessing about student loan forgiveness lol. it’s nothing if not a political topic

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                            • #29
                              10k means-tested for only undergrad loans via stroke of pen seems to be the most likely outcome, if anything is done at all.

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                              • #30
                                Recently listened to a planet money podcast with people reporting how the student loan pause had helped them pay off credit card debt, pay for a new car, buy new shoes, etc. If you had money to pay for college, would you choose to 1. pay for college out of your bank account 2. borrow money with the understanding that they will not collect any payments or interest for an undetermined amount of time and may never collect/may forgive the debt. It doesn't take an economist/person with common sense to project this being an asinine policy that will ultimately increase student indebtness without addressing the cost of higher education. I saw a facebook post that noted: Click image for larger version

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                                This is very true. People taking student debt are over 18/adults. The people advising them to take student debt/their parents are over 18. If they do not want to repay the student debt, they should be taking out loans to pay for their education.
                                This is a huge source of inflation. We are essentially subsidizing college graduates with government money to spend more money/demand more services/goods with money that they do not have. It seems very unfair to those that have paid their debts or not taken on debt due to not pursuing higher education as well.

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