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These appear to be strong arguments against the idea.
Another problem (not addressed in the article) was the precedent that this would likely establish - (at least) $10K of ‘canceled’ student debt then would (likely) become a gift. How can this be “fairly” limited to only student borrowers who incurred their student debt before the mid-term elections?
Having agreed with you on 2 points: no student loan forgiveness and both parties spend too much, I'm heading out to buy a lottery ticket as I'm feeling pretty lucky. Maybe a 12 pack, too? It's noon somewhere, right?You'll get no argument from most of us on the right that when the Republicans are in charge they behave far too much like Democrats.
They're actually pretty bad arguments because they don't even acknowledge the existence of the students who have these debts. And without the students as the subject of the discussion, it makes you wonder how this topic would exist in the first place.
Paused. Not canceled.You seem to have ignored that student loan (re)payments and interest accrual have been ‘paused’ for over two years.
Paused. Not canceled.
C'mon.
See post 51.OK, but those ‘savings’ should not be ignored. If I was allowed not to repay my loan(s) for over two years then I could certainly better afford to do so when those obligations resumed.
With this I agree entirely. I was fortunate to be able to pay for college without accumulating any debt in part by help from my parents, and working nights. The costs of college have gone up to the point where this can be much more difficult for students now versus even a couple of decades ago. What I think is missing is a solution for making college more accessible, because drawing down debt without it just keeps the cause of debt going indefinitely.1. How does that move the debt to the tax payer, and
2. What of the students who suffer far more crippling student debt than anybody here has experienced and can imagine?
3. Canceling that debt is good for everyone. That debt is partly responsible for a shrinking middle class. Part of what makes a middle class is a home and retirement, and the money that could go to those things go to student debt instead. And a healthy middle class is good for the country overall.
And again, remember, their student debt is nothing like what you experienced. They're completely different universes.
That's a fair point.Again, a reminder for those who remember paying off their student loans fifty, forty, thirty or even twenty years ago. Your experiences are not the experiences of students today.
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Agreed. As I said, Biden is just using the tools available to him. Large institutional fixes require legislation, and that ain’t happening with the current makeup.With this I agree entirely. I was fortunate to be able to pay for college without accumulating any debt in part by help from my parents, and working nights. The costs of college have gone up to the point where this can be much more difficult for students now versus even a couple of decades ago. What I think is missing is a solution for making college more accessible, because drawing down debt without it just keeps the cause of debt going indefinitely.
Do you guys ever get tired of telling each other this kind of thing? Have you heard the election was stolen from trump in 2020? If you haven't, it's true, spread the word.They don't care about inflation, because their entire platform is based on promising free stuff from the government in exchange for votes.
That's a fair point.
My wife and I both went to Ohio State, and graduated with 10k in student loans. Seemed like a lot of money at the time, but of course was not. We were fortunate to be able to pay for our kids' college. But had we not, the debt would have been terrible
That said, I also agree with those who question "do our kids really have to get a college degree, and saddle themselves with taht debt, in order to be successful?"
For better or worse, at present the answer is generally "yes."
Notice that people who are opposed to student loan forgiveness tend to be the same ones who are hostile to higher education in the first place.
And, as @Cardinal pointed out, older generations--the same ones who pressured young people to go to college in the first place--tend to be out-of-touch about just how expensive even state schools are these days.
We need higher education reform, but punishing young people is not the way to do it.
Um, so we'd spending $10k in tax revenue to recoup what, $2.5k in tax revenue?
It isn’t. But this is the tool available to the President. If you want large institutional fixes, help Democrats to keep control of the House and put two more Progressives in the Senate.How is letting (selected?) people avoid repaying their student loan debt helping to reduce college costs?
It isn’t. But this is the tool available to the President. If you want large institutional fixes, help Democrats to keep control of the House and put two more Progressives in the Senate.
Rejected, for reasons I’ve already stated.OK, so don’t do it.
But that is observably untrue in this very thread.We're not
You have much to learn.But that is observably untrue in this very thread.
1. How does that move the debt to the tax payer, and
2. What of the students who suffer far more crippling student debt than anybody here has experienced and can imagine?
3. Canceling that debt is good for everyone. That debt is partly responsible for a shrinking middle class. Part of what makes a middle class is a home and retirement, and the money that could go to those things go to student debt instead. And a healthy middle class is good for the country overall.
And again, remember, their student debt is nothing like what you experienced. They're completely different universes.
If you do not know the answer to that question then we have an immediate problem. If the holder of debt has that listed as an asset then all of a sudden throws that debt away it immediately changes the column that was sitting in. Think accounting. You literally spend right into higher levels of deficit overnight as revenue declines immediately.
What about them? I get the 'feel good' aspect to this but what about all the conditions that made this mess possible? You refuse to acknowledge that then turn around and suggest everyone else has to answer your questions. It is intentionally dishonest and intentionally treating others in a manner different than the benchmarks you establish.
All you are advocating for is forgiveness for one immediate group, with a fiscal consequence you cannot avoid no matter how clever you think you are, and yet you are answerless as to what to do about the real issues.
That is not a universal truth, depending on what the conditions are of economic fault placing more money in the economy at velocity could impact inflation even worse.