Biden bails out more student loan borrowers after Supreme Court rejection

If the US can spend 2 trillion on a made up war, a trillion to give billionaires tax breaks and 4 trillion in stimulus or “loan forgiveness” for businesses I have zero issue with students being bailed out. Republicans were in the lead for 6 trillion but 250 billion is where they finally draw the line?


I do wish Biden would do something to actually address why these students need to be bailed out though. We need an education system like the rest of the world enjoys

 

if the school doesn't guarantee, no government loans for their school

 

should Biden sign the checks?

 

That's the problem though. You declare a degree as a freshman and they load you up with a lot of classes that go toward that degree, with less focus on general requirements. That way, the college that you are in gets a boost. Then you change degrees in a year and find that you have a lot of useless classes in that first degree you signed up for.

They need to focus on general requirements in the first year with maybe 1 class in your chosen degree. Kids don't know what they want their first year or two and colleges take advantage of that.

 

You nailed it.

 

I always question the hostility toward the rich and the belief they don't pay their fair share- because the IRS itself tells us otherwise.

The top 1% pay 42.3% of all federal personal income tax revenue the government receives.
The top 5% pays 62.7%.
The top 10% pays 73.7%.

That covers the very wealthy and the relatively wealthy people. All together, 1/10th of the taxpayers carry 3/4 of the total load, and they are taxed at higher rates as well.
That means that 3/4 of our taxpayers are only paying about 1/4 of the total, but that bracket includes people who think they are paying too much.

A basic building block of a sound society is personal responsibility. You create an obligation, you meet that obligation. You don't create debt and then dump it off on others because you think it's inconvenient to pay back what you borrowed- and no leaders with any honor will support that.

Truth is truth, it doesn't change. How it's represented, and if it is distorted and abused- does. Honorable men don't do that. Corrupt ones choose it and prefer it.

 

put those slackers on a list and don't ever hire them! They don't know what it is to EARN something. LOSERS!!!
Is uncle Joe gonna pay off their mortgages too?
Sheesh, Biden is pure SCUM

 

Borrowing money for education is rarely a foolish or careless decision. The problem was the government backed guarantee for everyone. With no aptitude requirements and no restrictions on studies this was bound to happen. I'm fine letting that debt be canceled. The ones that graduated and (are presumably able to pay the loan back) had to pay an artificially high price for their degree - that is not fair to them. The ones who didn't can't pay the money back anyway.

 

The top 3 people in the US hold more wealth than the bottom 50% combined.

The top 10% hold more wealth than the bottom 60%.

Also I have no idea WTF you are even talking about as no one mentioned anyone paying their fair share — just that their taxes were cut at significant expense.

 

Back to court we go.
https://thehill.com/homenews/education/4138136-lawsuit-filed-to-stop-new-student-debt-relief-plan/

 

While much of that is true- the fundamental principle here is that it is not fair to make other people pay for your choices. If that works in one condition, it set a precedent for all conditions- all debt. What that does is encourage reckless indebtedness. In the mortgage crisis, the government set up a system to "make home ownership easier", and the rules were so loose that people totally unqualified were not only able but were encouraged to get loans they had no capacity to repay. Every time they tell us they are "helping", a disaster is in the making.

I agree government was incompetent, but there too- our government refuses to follow its own rules, let alone the rules the nation holds as primary law.
The government, and by that I mean mostly the US Congress- it's responsible for regulating everything else including the president, but unfortunately also for regulating itself, which never works. It's like making the players in a ball game be the umpires too. And it's not the individuals, it's the system that can't apply discipline and hold its members to standards of honor. IF we fix that, we will fix a thousand other issues at the same time- because an honorable congress would follow the rules, AND require all the people and agencies they oversee to do the same.

Incompetence at the top screws everybody and everything. In doing that it also serves as examples that are mirrored by the less responsible, and creates more of the same. Regardless of other conditions- you and I are responsible for what you and I do. We don't have to participate in schemes like this one cooked up by politicians, however, we have no choice as taxpayers but to pay for them when they fall apart, and that is certainly unfair to those who had nothing to do with it in the first place. In this case, the breakdown IS in government. The heat for what the government- in this case Joe Biden does- belongs on the source.

I see this totally as Joe trying to buy votes. Free money- giving away somebody else's money- is the easiest way to do that, and it can destroy the nation.

 

What’s being taught is people are not responsible for their actions. Someone agrees to the terms of a loan they pay it back. That is what responsible people do.

 

many people claim bk at times, even Presidents.... these loans prevent that, that is what makes them different

heck, why not just have them be interest free loans.... have the fed loan it like they do the banks, there was talk of giving the banks negative loans not long ago, heck, the fed even bought stocks to bail out the stock holders

 

Next is having them vote at the ATM and get the cash instantly!

 

many of them republicans, republicans that will remember that republican pulled that carpet out of underneath them on a done deal

 

a president handing out checks? that would never happen.... oh wait

 

So indecisiveness is an excuse?

My bachelor and masters program required a full 4+2 years of focused curriculum to get through all the content.

If people aren't sure what they want to major in, go to community College and get Gen Eds until they do.

 

How much of the money is going to the Privileged Class?

 

The Privileged Class don’t go to community colleges. They’re Ivy Leaguers! I bet most of Joe’s handouts are going to that class. Joe has bribes he needs to pay to protect his criminal family from going to jail.

 

10k per those with college loans, most rich people do not get loans, so prob very few

it's tax-free for parents paying school directly, if they pay loan is a gift

 

Did you complain about trump's multi trillion dollar tax cut for the super rich causing deficits to soar which the rest of the taxpayers had to make up?

 

Is that the best you can do?

 

Our education system is garbage. The admin and teachers fail our students as the status quo.

 

Which is all based on the Higher Education Act that the Supreme Court said was the right way to do this. In other words, it is the income reduction payment plan, just modified and that is within the purview of the Executive branch whether it is Biden or the Secretary of Education.

 

If your degree is so worthless you can't even use it to make enough to pay it off, then why should your neighbor pay it for you?