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Biden says he's considering student debt forgiveness, but less than $50,000

phoenix2020 said:
Other nations also have not seen tuition charges rising so fast and so consistently for decades, while their endowments explode in magnitude. Right now the problem is that students are suffering under debt, and now some politicians are suggesting that taxpayers start to join in on the suffering. Guess who isn't suffering at all? Our universities who continue to hike tuition. And indeed, debt forgiveness for federal loans actually only serves to incentivize universities to keep at it... if the students can't pay, the government will!

I'm not entirely opposed to a highly targeted forgiveness program but it shouldn't take the form of what essentially amounts to a cash transfer to universities who get to continue raising tuition rates without penalty, while the government increasingly steps in to pay into their endowments. Someone else on this forum had the idea of debt forgiveness coming with a long term tax rate points hike and I think that is interesting thinking. I actually think the long term solution here is not debt relief but curtailing federal loans for tuition, or pegging the availability of government-backed education loans to something like the inflation rate, and requiring universities to take on a greater percentage of the loan burden so that they are more incentivized to graduate students who have a good chance of repaying that loan.
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Maybe? Some of the problem is that universities are "keeping up with the Joneses," spending exorbitant amounts of money on things they don't really need but cost a lot.
 
Phys251 said:
:LOL:

I want taxes raised on the ridiculously rich. Like enough to have a yacht the size of a stadium rich. Do you?
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Nope, you initially said “wealthy” (post #21) and have now decided to move the goal posts to the “ridiculously rich” (about 700 people?).
 
Phys251 said:
www.nbcnews.com

Biden says he's considering student debt forgiveness, but less than $50,000

The president said a decision is coming "in the next couple of weeks."
www.nbcnews.com www.nbcnews.com



I think his decision is going to irritate people on both sides of this debate. Some will feel that his loan forgiveness doesn't go far enough; others will feel that it goes too far.
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Regardless, this along with Biden's teaming up with Mexican Crime Cartels at our country's border in the combined effort to expand human trafficking, drug smuggling, terrorism into our country by the millions is certain to boost his approval numbers, and secure him another term as president .
WE LOVE YOU JOE !
 
ttwtt78640 said:
Nope, you initially said “wealthy” (post #22) and have now decided to move the goal posts to the “ridiculously rich” (about 700 people?).
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So you're just splitting hairs. Got it. Have a good day. 👋
 
Phys251 said:
Maybe? Some of the problem is that universities are "keeping up with the Joneses," spending exorbitant amounts of money on things they don't really need but cost a lot.
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I'm sure that's part of the problem. I imagine there are other motivating factors as well. Nonetheless my point still stands that 'debt forgiveness' as currently defined in most quarters basically leaves everyone but profitable universities holding the towel.

I cannot support that.
 
phoenix2020 said:
I'm sure that's part of the problem. I imagine there are other motivating factors as well. Nonetheless my point still stands that 'debt forgiveness' as currently defined in most quarters basically leaves everyone but profitable universities holding the towel.
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Possibly. I'll have to think over what you said in your prior post.

Doesn't mean there is no reason for a partial loan forgiveness now. The short-term and long-term solutions may not be the same.
 
A lot of replies much like Kamala Harris?? what gives Phys?
 
Tender Branson said:
Why isn't university education free for every citizen in the apparently wealthiest country on the planet ?
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Because when it comes to bombs, warplanes, prisons, oil subsidies, and tax cuts for the super-rich, America is a bottomless pit of money.

But when it comes to healthcare, education, and other things that improve the quality of life for people, all of a sudden the amount of money we have is finite.

That's why.
 
Tender Branson said:
Why isn't university education free for every citizen in the apparently wealthiest country on the planet ?
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Why do so many people risk their lives to come to America? Take your "free" education and enjoy, we Americans will work it out!
 
Phys251 said:
:LOL:

I want taxes raised on the ridiculously rich. Like enough to have a yacht the size of a stadium rich. Do you?
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Why are you jealous of the rich? I'm sure there are people in this world who consider YOU to be "ridiculously rich". People who have no access to potable water while we are shitting in toilets and flushing it down with drinkable water.

So, how about this:

We are going to tax the hell out of you in order to share some of the simple conveniences which you enjoy, so that people in Africa can have a glass of clean water. Sound like a plan?
 
Phys251 said:
www.nbcnews.com

Biden says he's considering student debt forgiveness, but less than $50,000

The president said a decision is coming "in the next couple of weeks."
www.nbcnews.com www.nbcnews.com



I think his decision is going to irritate people on both sides of this debate. Some will feel that his loan forgiveness doesn't go far enough; others will feel that it goes too far.
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Well he has to do something or the political left will crucify him at the polls. Student debt forgiveness is long overdue in my opinion.
 
Phys251 said:
Because when it comes to bombs, warplanes, prisons, oil subsidies, and tax cuts for the super-rich, America is a bottomless pit of money.

But when it comes to healthcare, education, and other things that improve the quality of life for people, all of a sudden the amount of money we have is finite.

That's why.
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I will ask you as well, why do so many risk their lives to come to this country? For the bombs. warplanes. prisons, oil subsidies, and tax cuts for the rich?? Come on, man,
 
Court Jester said:
Why are you jealous of the rich? I'm sure there are people in this world who consider YOU to be "ridiculously rich". People who have no access to potable water while we are shitting in toilets and flushing it down with drinkable water.

So, how about this:

We are going to tax the hell out of you in order to share some of the simple conveniences which you enjoy, so that people in Africa can have a glass of clean water. Sound like a plan?
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Yeah, much like the homeless here. I don't see liberals opening their doors. All talk
 
Phys251 said:
Because when it comes to bombs, warplanes, prisons, oil subsidies, and tax cuts for the super-rich, America is a bottomless pit of money.

But when it comes to healthcare, education, and other things that improve the quality of life for people, all of a sudden the amount of money we have is finite.

That's why.
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The fact that education is not a constitutional federal power is a fairly good reason. Why don’t we fund “free” public college like we fund “free” public K-12 education, which is at the state and local government level?
 
Phys251 said:
Possibly. I'll have to think over what you said in your prior post.

Doesn't mean there is no reason for a partial loan forgiveness now. The short-term and long-term solutions may not be the same.
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That's all I ask.

I find this topic frustrating. Indeed if you look at this thread, you see supporters of student debt relief pointing fingers at the rich not paying their fair share, at other countries having subsidized education, and so forth. And you see opponents of student debt relief pointing fingers at the students for making bad financial decisions, at liberals for spending other people's money, and so forth. Guess who no one is pointing fingers at, time and time again, in threads like this one?

Our wealthy for-profit universities.
 
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