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  • #46
    Let have all non college educated people pay for the college educated. Its all free money anyway. Taxing the grocery store clerk , so someone elses kid can go to Harvard is like medical assistance for the college educated. Every kid that borrows money signs a form that they are going to pay it back, did the somehow forget that ?

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    • #47
      https://youtu.be/_x5SeXNabd8

      Here is another left leaning fellow that agrees with me.

      It is a scam.
      Last edited by Tangler; 05-05-2022, 05:41 AM.

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      • #48
        Originally posted by Random1 View Post
        Let have all non college educated people pay for the college educated. Its all free money anyway. Taxing the grocery store clerk , so someone elses kid can go to Harvard is like medical assistance for the college educated. Every kid that borrows money signs a form that they are going to pay it back, did the somehow forget that ?
        How much in taxes do you think the grocery store clerk pays, and how many kids go to Harvard? You're saying that any increase in federal spending has to be made up in taxes? Did you feel the same way about TCJA?

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        • #49
          Click image for larger version

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ID:	332914 Even $10k would be nice for the generation that graduated into the mess of the 2008-2011 market. And then those that went to grad school/professional school had subsidized loans axed in 2012 and started accruing interest immediately at 6.8% on the now only available unsubsidized loans. It was a particularly rough few years for my generation.

          Not bitter at all! (we did pay it off and I wouldn’t be upset if others got it and we didn’t)

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          • #50
            Originally posted by Turf Doc View Post

            How much in taxes do you think the grocery store clerk pays, and how many kids go to Harvard? You're saying that any increase in federal spending has to be made up in taxes? Did you feel the same way about TCJA?
            I paid off my loans. Around 300k at 6%.

            I pay a lot of taxes and I suppose that means a lot of people (including you) think it is a very good idea for me to pay off your loans too.

            Perhaps we will be foolish enough to keep doing this ridiculous dance and you may get the chance to pay off someone else’s in 5-10years.

            It does not fix the problem/issue.

            Tuition needs to stop rising. Students need to be careful with how much they borrow.

            And, yes, my electrician fishing buddy (blue dog democrat) should not have to pay for anyone’s college other than his kids.

            He makes 100k/year but does dirty dangerous work.

            Meaningful important work.

            Work he learned without student loans.

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            • #51
              Is the role of the federal government services to payoff student loans?
              Then it was not a loan.
              Let the debate begin on the criteria for awarding the grants. I am sure it will be contentious, competitive or preferences on social issues.
              How many art history majors, which universities and how to hand out the money?
              Mom used to say, “Two wrongs don’t make a right.” That is the box we are in with student loan forgiveness.
              Reward for high achievers or reward for failures?
              Pick your poison, both suck.

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              • #52
                Originally posted by Turf Doc View Post

                How much in taxes do you think the grocery store clerk pays, and how many kids go to Harvard? You're saying that any increase in federal spending has to be made up in taxes? Did you feel the same way about TCJA?
                More than you think. That FICA stuff is regressive. Money is fungible. Taxes are taxes.

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                • #53
                  The problem is that we are discussing actual situation with loans and how to fix things.
                  But thats not what politicians do at this time.
                  They are buying votes. They have no interest in reforming american education system. We are in major midterm election year.
                  Current priority is war with russia, economy and china. Education is not it.

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                  • #54
                    How much in taxes do you think the grocery store clerk pays, and how many kids go to Harvard? You're saying that any increase in federal spending has to be made up in taxes?

                    There are a lot of fiscally conservative people out there , who saved for their kids college education or did with out in order to make it happen. To pay off loans of those who chose to pay too much for something they could not afford or offered them little benefit , is really not the problem of fiscally conservative people, blue collar workers or pensioners . You could just make more money, QE 5 for college loans. The government is great at creating money from nothing, I am sure that is part of the reason so many out there are feeling the transient inflation.

                    Someone, actually has to pay back lending institutions who lent money to to aspiring college students. These same loans which no one wants to pay back are used for investments in pension fund obligations. So in a sense, college kids who are not paying back there loans are stealing from their grandparent pensions funds.

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                    • #55
                      “So in a sense, college kids who are not paying back there loans are stealing from their grandparent pensions funds.”

                      Actually, the price will be paid by their kids and grandchildren. Future generations as well as themselves for the next 50 years or so. Unless they plan on never being prosperous and paying their “fair share” of taxes. Whatever that is.

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                      • #56
                        Originally posted by MSooner View Post

                        Not bitter at all! (we did pay it off and I wouldn’t be upset if others got it and we didn’t)
                        Would you be upset if some people got some forgiveness but none of the underlying issues were addressed? I would be.

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                        • #57
                          Originally posted by CordMcNally View Post

                          Would you be upset if some people got some forgiveness but none of the underlying issues were addressed? I would be.
                          Roger that.

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                          • #58
                            Originally posted by CordMcNally View Post
                            Would you be upset if some people got some forgiveness but none of the underlying issues were addressed? I would be.
                            Tough question. For profit schools or nonprofit schools that went out of business. No fault of the student and transferring credits or available same educational path ?
                            There was a ton of abuse on the for profit side. Does that qualify as a fix?
                            Katrina caused whole dept and majors to be dropped. Again, no fault of the student but again, some students got screwed.
                            None of this involves blanket forgiveness.
                            Uniform rules leaves no room for judgement.
                            Some probably have valid hardship cases completely beyond the student’s fault.

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                            • #59
                              Originally posted by Tim View Post

                              Tough question. For profit schools or nonprofit schools that went out of business. No fault of the student and transferring credits or available same educational path ?
                              There was a ton of abuse on the for profit side. Does that qualify as a fix?
                              Katrina caused whole dept and majors to be dropped. Again, no fault of the student but again, some students got screwed.
                              None of this involves blanket forgiveness.
                              Uniform rules leaves no room for judgement.
                              Some probably have valid hardship cases completely beyond the student’s fault.
                              Is the for profit student loan debt greater than what I would consider typical student loan debt? I doubt it but I don’t know the numbers. There has already been some relief for borrowers of schools who were found to have committed fraud, etc.

                              You’re right that some students got screwed but I bet that’s the vast minority of total student loan debt.

                              Comment


                              • #60
                                Originally posted by Tangler View Post
                                I paid off my loans. Around 300k at 6%.

                                I pay a lot of taxes and I suppose that means a lot of people (including you) think it is a very good idea for me to pay off your loans too.

                                Perhaps we will be foolish enough to keep doing this ridiculous dance and you may get the chance to pay off someone else’s in 5-10years.

                                It does not fix the problem/issue.

                                Tuition needs to stop rising. Students need to be careful with how much they borrow.

                                And, yes, my electrician fishing buddy (blue dog democrat) should not have to pay for anyone’s college other than his kids.

                                He makes 100k/year but does dirty dangerous work.

                                Meaningful important work.

                                Work he learned without student loans.
                                My only real point is that I simply disagree that "spending" x amount of money, whether it be through loan forgiveness or actual spending, necessarily results in a concomitant increase in taxes, and I definitely disagree that if there was an increase in taxes to make up for it it's somehow going to hit people who didn't go to college/grad school and on average make less money. Can someone give me an example of this happening, ever? The deficit and debt increase under both republican and democratic presidents, and its never ever being paid down. The gov spends money all the time on other things and no one bats an eye.

                                For instance, IIRC a few years ago there was an increase in military spending that would have basically covered free tuition in public schools nationwide. Generally, the kind of people who would absolutely lose their minds over free tuition, allegedly citing cost, supported that increase. But as we all know money is fungible, so that position is illogical. Did your electrician friend have to pay for that too, at least more than you can argue anyone else did?

                                And of course I agree I'd rather see some sort of sustainable change going forward. But I think that would require an act of congress and as you know it's hard to see them getting along to do basically anything, so this is what we end up with.

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