Loans
Posted: Wed Aug 24, 2022 1:10 pm
So glad we paid off our kids' loans. Over 100 grand.
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Re: Loans
Posted: Wed Aug 24, 2022 1:21 pm
And forgiveness decreases deficit how? 300 bill?
Re: Loans
Posted: Wed Aug 24, 2022 1:27 pm
Vote buying. The problem is, more younger voters DON'T have the debt than do. Hopefully they are watching Fox so they are educated on how bad this giveaway is for them because the other networks will sell the Democrat lies.
Re: Loans
Posted: Wed Aug 24, 2022 1:46 pm
I doubt that Democrats are lying about this, but for the record, not all Dems agree with student loan forgiveness. I think the better approach is from the front end -- don't let universities impose crippling debt for the sake of a degree. Many students saddled with crippling debt went to schools with zillion-dollar endowments. I believe those endowments could ease the burden now.
My college BFF was valedictorian of her high school class, and the college welcomed her with open arms and a tuition scholarship. Books, fees, meal ticket, and dormitory rent, not a penny. So she got student loans and started paying them off with her first paycheck from her new job; it took about a year. I was even luckier -- my summer job at Safeway covered all my college expenses. But I lived with my parents and got to eat Mom's cooking throughout.
My college BFF was valedictorian of her high school class, and the college welcomed her with open arms and a tuition scholarship. Books, fees, meal ticket, and dormitory rent, not a penny. So she got student loans and started paying them off with her first paycheck from her new job; it took about a year. I was even luckier -- my summer job at Safeway covered all my college expenses. But I lived with my parents and got to eat Mom's cooking throughout.
Re: Loans
Posted: Wed Aug 24, 2022 2:14 pm
You're right the institutions should fix themselves. But they're beneficiaries. We, the rest of the people, shouldn't have to bear the cost. And, yes, they are vote buying obviously.
Re: Loans
Posted: Wed Aug 24, 2022 2:24 pm
If that's what they're doing, they're doing it wrong. Young people don't vote in the numbers that older generations do.
Re: Loans
Posted: Wed Aug 24, 2022 2:29 pm
Re: Loans
Posted: Wed Aug 24, 2022 3:04 pm
Might not feel so useless to people who will have an easier time now making ends meet. Our failure to personally benefit from this program doesn't make it a bad thing.
And if you're worried about paying for it, I recall a recent tax break for billionaires that I'd be more than happy to repeal. I don't recall any gnashing of teeth about how we'd pay for that. --Bob
Re: Loans
Posted: Wed Aug 24, 2022 3:07 pm
Well, if they are saying "It will reduce the federal deficit." they are lying. If they are saying "Taxpayers aren't paying for it" they are lying. If as Elizabeth Warren says "This will be transformative for the lives of working people all across this country." they are lying. Most working people don't have student loan debt, in fact, most working people didn't go to college so even a penny of their tax contributions is more than they should have to fork over so someone else could continue as a dependent for an additional 4-8 years.SportsFan68 wrote: ↑Wed Aug 24, 2022 1:46 pmI doubt that Democrats are lying about this, but for the record, not all Dems agree with student loan forgiveness. I think the better approach is from the front end -- don't let universities impose crippling debt for the sake of a degree. Many students saddled with crippling debt went to schools with zillion-dollar endowments. I believe those endowments could ease the burden now.
My college BFF was valedictorian of her high school class, and the college welcomed her with open arms and a tuition scholarship. Books, fees, meal ticket, and dormitory rent, not a penny. So she got student loans and started paying them off with her first paycheck from her new job; it took about a year. I was even luckier -- my summer job at Safeway covered all my college expenses. But I lived with my parents and got to eat Mom's cooking throughout.
Re: Loans
Posted: Wed Aug 24, 2022 3:08 pm
Stop deflecting.Bob78164 wrote: ↑Wed Aug 24, 2022 3:04 pmMight not feel so useless to people who will have an easier time now making ends meet. Our failure to personally benefit from this program doesn't make it a bad thing.
And if you're worried about paying for it, I recall a recent tax break for billionaires that I'd be more than happy to repeal. I don't recall any gnashing of teeth about how we'd pay for that. --Bob
Re: Loans
Posted: Wed Aug 24, 2022 3:10 pm
They are saying this "will help" as many as 43 million Americans. But sources say nearly 94 million, or 42%, of Americans ages 25 and over have a college degree of some type. How does almost 50% of those with college degrees have debt? I know some of that debt isn't for "college" but trade (er, The Art Institute) schools. Seriously? Buck up and take some frickin' resposibilty!
Re: Loans
Posted: Wed Aug 24, 2022 3:12 pm
What tax break for billionaires? Be sure it is a tax break, meaning they are given relief or benefit on something no one else is getting relief on. Otherwise it is not a break.Bob78164 wrote: ↑Wed Aug 24, 2022 3:04 pmMight not feel so useless to people who will have an easier time now making ends meet. Our failure to personally benefit from this program doesn't make it a bad thing.
And if you're worried about paying for it, I recall a recent tax break for billionaires that I'd be more than happy to repeal. I don't recall any gnashing of teeth about how we'd pay for that. --Bob
Re: Loans
Posted: Wed Aug 24, 2022 4:31 pm
We can all laugh at those dumb chumps who went to college on the GI Bill or joined the National Guard to help with college and various permutations thereof.
Re: Loans
Posted: Wed Aug 24, 2022 4:55 pm
Re: Loans
Posted: Wed Aug 24, 2022 5:26 pm
How is this different from arguing that we shouldn't cap insulin prices now because earlier patients didn't enjoy the benefit of the cap?
My niece's good fortune (I assume she got loans to pay for college) is not my bad fortune. --Bob
Re: Loans
Posted: Wed Aug 24, 2022 5:44 pm
When I went to college, I didn't have a computer or the Internet. I had to do things the old fashioned way, taking notes in the library for research and calculating on pencil and paper. That's not fair.
Re: Loans
Posted: Wed Aug 24, 2022 5:50 pm
This makes no sense. Totally unrelated.
Re: Loans
Posted: Wed Aug 24, 2022 6:04 pm
I'm in favor of the change that will prevent interest from being so high. I understand the banks have to make a little something, to be worth them lending, but I have read a ton of accounts today from people who have been paying for years, and can't make a dent because of the interest.
College costs are too high, for sure. I feel no guilt about it, as I am paid $3500 per course by the state of North Carolina, and a ton of our teachers are in that same category, so we're not the ones running up the costs.
I don't begrudge someone else getting a hand on their loan when I didn't, and I presume once we see the full plan, we'll see where the money is coming from to pay for this. Our national budget is really big, so if we reallocate money from one place to another, that's fine with me. Particularly from some places where I wish we weren't spending so much.
College costs are too high, for sure. I feel no guilt about it, as I am paid $3500 per course by the state of North Carolina, and a ton of our teachers are in that same category, so we're not the ones running up the costs.
I don't begrudge someone else getting a hand on their loan when I didn't, and I presume once we see the full plan, we'll see where the money is coming from to pay for this. Our national budget is really big, so if we reallocate money from one place to another, that's fine with me. Particularly from some places where I wish we weren't spending so much.
Re: Loans
Posted: Wed Aug 24, 2022 6:28 pm
Unfortunately there isn't allocation from here or there. It's just THERE.
Plus why? It's just stupid.
Plus why? It's just stupid.
Re: Loans
Posted: Wed Aug 24, 2022 7:37 pm
Sorry, but this is absolutely nothing but pandering. The far, far more sensible route would have been to put an end to usurious interest rates on student loans, but this isn't remotely about making sensible changes. In fact, for those with the more crushing debt, this 10k will be replaced by interest anyway
Re: Loans
Posted: Wed Aug 24, 2022 7:50 pm
There ya go.
Re: Loans
Posted: Wed Aug 24, 2022 8:35 pm
I'm of the opinion that college costs are high because student loans are so easy to get. Otherwise, they'd have to lower their tuitions.Ritterskoop wrote: ↑Wed Aug 24, 2022 6:04 pmI'm in favor of the change that will prevent interest from being so high. I understand the banks have to make a little something, to be worth them lending, but I have read a ton of accounts today from people who have been paying for years, and can't make a dent because of the interest.
College costs are too high, for sure. I feel no guilt about it, as I am paid $3500 per course by the state of North Carolina, and a ton of our teachers are in that same category, so we're not the ones running up the costs.
I don't begrudge someone else getting a hand on their loan when I didn't, and I presume once we see the full plan, we'll see where the money is coming from to pay for this. Our national budget is really big, so if we reallocate money from one place to another, that's fine with me. Particularly from some places where I wish we weren't spending so much.
Neither I nor my sister had student loans because we went to UCLA and Cal and the tuitions were reasonable.
Re: Loans
Posted: Wed Aug 24, 2022 9:22 pm
Here in Georgia, we have the HOPE Scholarship for in-state students, which essentially pays the fees for a full-time student. Of course, there are other expenses (books, housing, etc.) that will make the total bill considerably higher.
I had to pay out-of-state tuition at Georgia Tech (although I had in-state tuition for law school at the University of Florida). We had a quarter system instead of a semester system back then, and you paid the same amount in tuition as a full-time student as long as you took 12 hours a quarter. So I loaded my schedule with 20 or 21 hours a quarter and graduated in 11 quarters (I came within two classes of graduating in ten quarters). That cut my total cost by 1/12. I had loans, especially for law school but paid them off years ago. However, I certainly don't begrudge anyone getting a degree of debt forgiveness.
What we really need to do is to crack down on the proliferation of for-profit universities. Our daughter went to one of those and took four years of film study classes which got her a greater appreciation for the art of film making, the chance to watch a bunch of classic movies, some big loan debts, and a piece of paper that said she had a bachelor's degree. It did not get her a single interview in her field (what she found was that although there are many film shoots in Georgia, the entry-level positions are usually unpaid internships). She's now working as a receptionist in a vet's office and living with us virtually rent-free because she can't afford to live on her own.
Re: Loans
Posted: Wed Aug 24, 2022 10:07 pm
I guess I have misunderstood. I thought we had over 1000 military bases all over the world where we are playing offense rather than defense (I always struggled to reconcile the name Department of Defense with the idea that we are on foreign lands).
I thought we could close up a few of them, especially the ones where no one asked us to be, and bring those folks home to build roads or bridges or schools, and use the money we save to fund domestic programs.
Notice I have not actively tried to justify the loan repayment program, only the part where the interest rates don't ruin people's lives. I don't have enough information yet to have a valid opinion on the $10K and $20K part of the plan.
Re: Loans
Posted: Thu Aug 25, 2022 10:30 am
Matt Gaetz: 476k PPP loan forgiven.
There ya go.
There ya go.