Biden Administration Forgives $39 Billion in Student debt...

as long as the wealthy can declare bankruptcy many times, so should the poorer people

 

Yep, this is where I'm at also. We put young people into a position where they are almost compelled to go to school, then gauge them for that opportunity, then cry and bitch when many don't pay back their loans. BUT they have no problem with f**king billionaires writing off orders of magnitude more $$ in bankruptcy. The hypocrisy is pathetic.

 

Since they aren't capable of being responsible then maybe we should wipe their arses for them too eh?
Hypocrisy is expecting responsible people that PAID THEIR DUES paying for people that FAILED TO PAY THEIR DUES
looks like you are confused about what hypocrisy is
SAD!

 

So how many GOP borrowers against loan forgiveness that qualify, will refuse that forgiveness?

 

however many there are, SCREW THEM TOO.....IRRESPONSIBILITY doesn't have a political affiliation
Nice try though. NO mercy for ANY of them
They are lazy entitled SCUM

 

It starts with an overhaul o

imo, payoff should be a percentage of the paycheck, automatically deducted like withholding taxes. Like a mini tax form.

 

Again, kids are almost compelled to go to college, then gouged for the opportunity to do so!
You, my friend, are the hypocrite - unless you're against bankruptcy too. Me, I have much less problem with kids trying to get out of a bill they were almost forced to take while being completely gouged by the colleges than I do someone in the op 5% of income earners filing chapter 7 because they were IRRESPONSIBLE when they married that trophy wife who later divorced them for a fortune or that billionaire who was IRRESPONSIBLE when they took that flyer on a business they knew (or should have known) had little upside. Wake up, man.

 

So go after the UNIVERSITIES. Not hard working America. Why does the left think they are entitled to other peoples' money? Do you know how many parents worked 2-3 jobs to pay for their kid colleges? As well as teens working their butts off to save money for college? Where is THEIR FORGIVENESS?
This is BS anyway you slice it with ZERO defense
This is just biden trying to get desperate college age votes and its DISGUSTING

 

None of this diatribe counters my post. Now get off my lawn!

 

the fed gives back almost zero percent loans, give these same loans to our children

republicans were upset cause the banks would lose all this interest they would get from our children

 

Then why take the money out of citizens pockets? Why not target the universities or loan institutions? Maybe get them to give a better interest rate on pre-existing loans. There are many ways to do this other than being THIEVES

 

how many times did Trump declare bk, does he need his ass wiped for him too?

the right's Hypocrisy never surprises me

 

So, tell them to use BK too, don't reach in the pockets of citizens. SAD
Also you would think with Trump and so many other richies taking advantage of loopholes in the system they would fix it but NOOOOOOO because they all use the same loopholes. Just like when he shredded hillary on taxes in the debate
none of that justifies what dirty Joe is trying to do here

 

Oh sure, except for the fact that you can't discharge SL debt through BK.

 

The fault of what YOU do falls only and totally on you. If you listened to someone telling you what you should do- that made it your decision. We all take a degree of risks in everything; what separates the people in charge of their lives from those who are not is judgment and values. If you have neither, you will screw yourself no matter how easy life is. You are the person put here to manage your life, and nobody anywhere has more at stake in that process than you do. Take the responsibility- until you do, you have no power over your own life. I teach people how to find and use that power.

The only reason an 18-22 year old makes poor decisions is the same as when a 40 year old makes them. They failed to accept the responsibility for the decisions they make. When you accept the consequences of your decisions, you quickly learn to be a lot more careful about making them.

 

Not sure why you are focusing your comments at ME - they certainly don't apply. And you continue to ignore how our students are being f**ked over by the current education conditions.

This is patently inane. Most 18-22 year olds don't have the wisdom or experience of a 40 year old. I know that I made plenty of bad decisions in those years - decisions that I would never make today. I think your "failing to take responsibility" manta is simplistic and doesn't nearly capture the breadth of those who might need this relief.

 

they can't, that is the problem, the debt is forever, they can't bk it

 

Educated people tend to be Democrats. It's just a fact.

 

What if you don't have a paycheck? Self employed? Retired? Unemployed?

But again, these student loan borrowers have made 2 decades PLUS of payments.... these are NOT deadbeat borrowers....

 

You're right!

Do you know why?? Because back in the day, people of a certain vintage had to pay as they went... So when costs went up from semester to semester, or even in the middle of one, students (and possibly their parents) freaked out. When they started handing out "free" loans like they were actually free, and the payer became so disconnected from the payment, and it was years in the future after they had finished their degrees, and had a new job, hey, what's another $50 per month among friends, amirite??

The same thing happens with all big ticket things that are financed... People don't care what the acquisition price is, they care about the monthly payments.

So, as is so typical when the government tries to help, they predictably made things worse!

 

Yep, agree 100% - we need to get govt the hell out of backing student loans so the market can do its thing.

 

First- the illustration word "you" means an individual persons choices. Not you specifically, but any individual.

Now the idea that you are going to be stupid until you are middle aged says- then you shouldn't get to vote or make critical decisions that can affect others before that. That might be a good idea, except that we have no way to make it workable.

How quickly you learn to be responsible is related to (1) How well you were raised and the examples your parents set, and (2) How early you decide to be responsible for yourself instead of expecting others to shield you from your own mistakes. This too has a lot to do with the conduct of your parents, but is also affected by the way society tolerates nonsense and juvenile behavior. Nature- natural consequence- is by far the most effective educator. Someone tells you not to touch the red circle on the stove because it's hot, you still don't understand. Lay your hand on the hot burner, and you will never need another lesson.

Age doesn't make people emotionally and mentally mature; the right experiences do. IF you are protected from the consequences of your own poor choices, you assume there are no serious consequences- and you don't learn a damn thing, except that no matter what you do, someone will feel sorry for you and bail your ass out. On the other hand- if others say "You got yourself into this mess, now you can get yourself out" you have the opportunity to experience genuine consequences that will educate you far better than any other way.

If you borrowed the money- you pay it back. Fair all around.

 

He announced this in April 2022, which became August 2022 which became "this fall" which became "early 2023" which became "July 1, 2023" which became "early 2024". The details aren't that hidden at all. Income-sensitive Federal loans have a maturity date of 10 years, 20 years or 25 years at which any balance at that point gets discharged. They weren't being discharged like they were supposed to. Borrowers have had difficulty even getting their payments records for anyone prior to their current servicer. The Department of Education kept track of whether someone was in deferment or repayment, but that was it. The servicers were also putting people into deferments when they should have just had their payments lowered pursuant to the terms of the loans because of significant changes in income which then exploded their balances with capitalized interest. So now, after having been sued multiple times, the Department of Education will keep track of all payments and discharge your loan when it was supposed to be discharged. Because the payment records are so sketchy for older borrowers, they will credit them 1 payment for each month they weren't in school or the school grace period going back to July 1994 to I believe it is 2013 for any loan, and then credit them any payments after 2013 made to the direct loan program. Current borrowers who end up reaching their threshold will have their loans discharged immediately. Current borrowers who have made more payments than they should have, will have their overpayments refunded.

 

The Supreme Court rule Biden could not do this. Biden is BREAKING THE LAW!

 

agree... we need public colleges, those that can afford it can go to private colleges