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8,000,000 Apply for Student Loan Forgiveness

I let one go in church as a little boy. We had wooden pews then. I tried to sneak it out and it rattled like a kicked can. Family and church still talk about it. Haha
You said "pew" in a post about farting. LOL.
 
The average burden per U.S. taxpayer will be $2,503.22”
“…the $400 billion-plus cost of Biden’s student loan forgiveness plan will incur more debt for the government.”


 
I'll never vote for a democrat again on any level until I'm dead. These woke radicals have shown me all I need to see to know they aren't fit for power. That goes for rinos too, which I will vote against in primaries.

I don't see how anybody can sit this one out, but if you're that confused, I'm glad you don't vote at all.

If anybody in a position of power ever needed a fist to the teeth and a hard kick in the ass out the door, it's these democrats. My vote is the closest I can come to doing that and also send a message to all those who still want to double down on this insanity.
 
I'll never vote for a democrat again on any level until I'm dead. These woke radicals have shown me all I need to see to know they aren't fit for power. That goes for rinos too, which I will vote against in primaries.

I don't see how anybody can sit this one out, but if you're that confused, I'm glad you don't vote at all.

If anybody in a position of power ever needed a fist to the teeth and a hard kick in the ass out the door, it's these democrats. My vote is the closest I can come to doing that and also send a message to all those who still want to double down on this insanity.
You are right.... You'll vote dem when you die. It's why they don't want dead people taken off voter rolls. LOL.
 
There's a part of me that wants these kids to learn a lesson here and make them pay the debts (I had about 14k total by the time I graduated and paid off over about 6 years). Then there's a part of me that blames the stupidity of any system that cuts a blank check to an 18 year old to "get an education" without any other real screening. This was essentially another huge shift of wealth to university administrators (professors, staff, etc. didn't make more when the unlimited hikes in tuition went up.

It's just funny to me that we bitch about subsidizing "this generation" but don't get pissed about the other 50 million things we subsidize. Your tax dollars are wasted daily. If some kid has $10k less debt today as a result and may be able to finally look into buying a home (good luck with these rates) or get married, I'm for it.

It's BS. If you are going to erase debt you can't pick and choose.

There are nearly 3x more people with healthcare debt in the US than student loans. This is a BS political ploy to buy votes. Pathetic and weak.
 
It's BS. If you are going to erase debt you can't pick and choose.

There are nearly 3x more people with healthcare debt in the US than student loans. This is a BS political ploy to buy votes. Pathetic and weak.

This might sound crazy to you but the people that voted for Biden harped on this issue for years. Much like the people that voted for Trump wanted him to end Roe v. Wade. Elections have consequences.

All I'm saying is that we turn our nose up at this but don't mind spending $800 billion a year on military when all we do is buy surplus tanks and ammunition every year to make stock holders of Lockheed et al. rich. My brother was in the army for 10 years, you don't spend the money, it's allotted elsewhere next year. You run your home budget that way?

You can't bitch about wasteful spending in government anymore, they all do it. Hell, the PPP program gave nearly as much money to millionaires than it did mom and pop shops.

The difference here is that a corporation or entity isn't benefitting from government spending, real people are. And, somehow, this is a massive slap in the face.
 
This might sound crazy to you but the people that voted for Biden harped on this issue for years. Much like the people that voted for Trump wanted him to end Roe v. Wade. Elections have consequences.

All I'm saying is that we turn our nose up at this but don't mind spending $800 billion a year on military when all we do is buy surplus tanks and ammunition every year to make stock holders of Lockheed et al. rich. My brother was in the army for 10 years, you don't spend the money, it's allotted elsewhere next year. You run your home budget that way?

You can't bitch about wasteful spending in government anymore, they all do it. Hell, the PPP program gave nearly as much money to millionaires than it did mom and pop shops.

Our military is under served and we don't even have the capacity we need in much of artillery, look it up. Short on troops in almost every branch and hardware too. Money doesn't need to go to people who choose to waste it. People with hospital bills often have no choice in the matter...JMHO.
 
Our military is under served and we don't even have the capacity we need in much of artillery, look it up. Short on troops in almost every branch and hardware too. Money doesn't need to go to people who choose to waste it. People with hospital bills often have no choice in the matter...JMHO.

I disagree with Medicare for All because I don't understand the math they are trying to use to make it seem plausible, but what I can tell you is that there have been 0 major proposals from Republicans (to my knowledge) to remedy that issue. Repeal Obamacare, allow some tax deductions and insurance across state lines are talking points but still no major bills. Something needs to be done because healthcare in this country is a nightmare financially.

The military is under served because of Afghanistan/Iraq. Something about two wholly unjust wars that cost us trillions of dollars and thousands of lives for seemingly nothing will sour the concept of virtuous fighting. That and this generation doesn't seem to consider it the vehicle out of poverty that it once was, for better or for worse.
 
This might sound crazy to you but the people that voted for Biden harped on this issue for years. Much like the people that voted for Trump wanted him to end Roe v. Wade. Elections have consequences.

All I'm saying is that we turn our nose up at this but don't mind spending $800 billion a year on military when all we do is buy surplus tanks and ammunition every year to make stock holders of Lockheed et al. rich. My brother was in the army for 10 years, you don't spend the money, it's allotted elsewhere next year. You run your home budget that way?

You can't bitch about wasteful spending in government anymore, they all do it. Hell, the PPP program gave nearly as much money to millionaires than it did mom and pop shops.

The difference here is that a corporation or entity isn't benefitting from government spending, real people are. And, somehow, this is a massive slap in the face.
That is an awesome straw man. We wanted the wars ended and foreign bases closed and nato members to pay their agreed upon share and immigration brought under control. To pretend we can't say anything about this particular boondoggle when we didn't say anything about the others is blatantly lying about why Trump was elected. You can argue what he did or didn't do but one of the big reasons he was elected was to end the wars and bring Americans home. Abortion was like 5th to 8th most important reason people voted for Trump. The progressives that voted for Biden voted for him because he wasn't Trump not because he was this "repay student loan" guy.

And to the last part... yea... all government is corrupt and that is why it should be as small and powerless as we can possibly make it. Our founders would be shocked if they were alive the last 2 years. This will further increase inflation. Its how economics works. If the government gives this money away for nothing, then money is worth less from that moment on.
 
That is an awesome straw man. We wanted the wars ended and foreign bases closed and nato members to pay their agreed upon share and immigration brought under control. To pretend we can't say anything about this particular boondoggle when we didn't say anything about the others is blatantly lying about why Trump was elected. You can argue what he did or didn't do but one of the big reasons he was elected was to end the wars and bring Americans home. Abortion was like 5th to 8th most important reason people voted for Trump. The progressives that voted for Biden voted for him because he wasn't Trump not because he was this "repay student loan" guy.

And to the last part... yea... all government is corrupt and that is why it should be as small and powerless as we can possibly make it. Our founders would be shocked if they were alive the last 2 years. This will further increase inflation. Its how economics works. If the government gives this money away for nothing, then money is worth less from that moment on.

I didn't say you couldn't complain about how your government spends it's money. Hell, I do that all the time. It's the tribalism of "Joe Biden's inflation" or "Trump's tax cuts" that sour me on the notion that most people are capable of impartiality.

This is clearly a ploy (albeit one he did say he wanted to accomplish if elected) to drum up the base to get them voting. There's a similar ploy happening right now in Saudi Arabia and their OPEC allies to cut oil/gas production right before the election and cause gas prices to go up because most people think the president has control over that (and apparently Biden thinks he does too with recent comments).

And, I hate to tell you this, but neither party wants to fix immigration. Just like they don't want to "fix" healthcare. If there's a wedge issue they can use to keep us arguing, they're going to hammer it often.

That's why I'm so surprised the supreme court elected to take on Roe in an election year. That's a ballsy move.
 
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I didn't say you couldn't complain about how your government spends it's money. Hell, I do that all the time. It's the tribalism of "Joe Biden's inflation" or "Trump's tax cuts" that sour me on the notion that most people are capable of impartiality.

This is clearly a ploy (albeit one he did say he wanted to accomplish if elected) to drum up the base to get them voting. There's a similar ploy happening right now in Saudi Arabia and their OPEC allies to cut oil/gas production right before the election and cause gas prices to go up because most people think the president has control over that (and apparently Biden thinks he does too with recent comments).

And, I hate to tell you this, but neither party wants to fix immigration. Just like they don't want to "fix" healthcare. If there's a wedge issue they can use to keep us arguing, they're going to hammer it often.

That's why I'm so surprised the supreme court elected to take on Roe in an election year. That's a ballsy move.
I didn't say the party wanted to fix immigration but the voters who voted for Trump did. You made it sound like abortion and debt forgiveness was on the top of more than 15% of the voters mind. What I think is that Bidenflation is real because I look at M1 money supply and relate that to consumer prices.

OIP.SteSfUIfV1OgbhKErkHshQHaE8


Without going into a whole spiel, M1 money supply is how much money actually exist on paper for a given currency. While it has been going up for 40 years and went up wayyy too dam much under Trump... it has absolutely exploded under Biden for many economic reasons that would be tooo long for this thread. Paying off student debt with money we don't have would be printing more money and further add to inflation. That isn't politics, its freaking accepted economics.

If you've ever played monopoly you may have noticed the effect. You start out with people buying stuff at cost and don't over spend. Later in the game people start to offer 5X to 10X the property price for the same exact property. Same board, same players and same rules.... The only thing that changes is the players get $200 for passing GO!. It's the same as a Federal Reserve bank pumping printed money into an economy.

And opec didn't make their decision on a ploy. They made their decision on the economic info that we are about to go through a very bad global recession. They are trying to keep prices at a $90+ level. What most Americans aren't accepting is that this isn't a strong economy and it's about to get worse and everytime DC spends more money they will make inflation worse.
 
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I didn't say the party wanted to fix immigration but the voters who voted for Trump did. You made it sound like abortion and debt forgiveness was on the top of more than 15% of the voters mind. What I think is that Bidenflation is real because I look at M1 money supply and relate that to consumer prices.

OIP.SteSfUIfV1OgbhKErkHshQHaE8


Without going into a whole spiel, M1 money supply is how much money actually exist on paper for a given currency. While it has been going up for 40 years and went up wayyy too dam much under Trump... it has absolutely exploded under Biden for many economic reasons that would be tooo long for this thread. Paying off student debt with money we don't have would be printing more money and further add to inflation. That isn't politics, its freaking accepted economics.

If you've ever played monopoly you may have noticed the effect. You start out with people buying stuff at cost and don't over spend. Later in the game people start to offer 5X to 10X the property price for the same exact property. Same board, same players and same rules.... The only thing that changes is the players get $200 for passing GO!. It's the same as a Federal Reserve bank pumping printed money into an economy.

And opec didn't make their decision on a ploy. They made their decision on the economic info that we are about to go through a very bad global recession. They are trying to keep prices at a $90+ level. What most Americans aren't accepting is that this isn't a strong economy and it's about to get worse and everytime DC spends more money they will make inflation worse.
I have said for many years that our education system is failing us. Everyone should be required to take a couple of economics classes in high school. It's amazing how many people do not understand basic economics and therefore believe a lot nonsense as if it were true. Inflation is absolutely caused by excessive growth in the money supply. As Milton Friedman used to say "Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output."
 
It’s just depressing that we’re living through terrible inflation, and this thread is full of people who refuse to make the connections between it and reckless policy. It’s basically an admission that we’re screwed so there’s no reason to try to be responsible.
 
Isn't it going to be tied up in courts? Heard st least one person filed suit and they will not be able to release funds until this thru the courts.

I strongly doubt anyone gets money after the Supreme Court slaps this over reach down.
As predicted, the courts have already blocked any debt from being discharged or funds released until this works its way through the court system where it will be permanently blocked due to executive over reach. If this is to be done, it will have to go thru congress - where it will never have support.

Good news for everyone who have morals and integrity.
 
The only way I would ever support student loan forgiveness is if the system that allowed the situation to develop is burned to the ground, and a new system is implemented. The student loan business and higher education are in the business of predatory lending.
 
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Wonder how many of these are Kentucky residents? 50 states divided into 8,000,000 seems way to many people. $ 45,000 debt times 8,000,000 seems unbelievable.
My daughter just paid off her $110,000 student loan. Great job Biden. She gets nothing. Punish the ones that follow the rules. Now she and the rest of us will end up paying for those loans. All those students knew what they were doing when they signed those loan papers. Just like the Dems wanting to let all the criminals out of jail and not hold them accountable for their actions. Allowing people to steal up to $1000 with no consequences. What is this country coming to?
 
Just to set the record straight - those of you against this decision were also adamantly against the PPP, right?
 
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We forgave 90% of PPP loans, spent 800 billion, had hardly any oversight and many economists think it did very little to actually help small businesses maintain staff/keep the lights on because it was so poorly targeted. The system that it was implemented through was so vague that more people were getting ripped off by it from fraud than a traditional application system and we declined hundreds of actual small businesses even though we still haven't (last I checked) spent all of those funds.

Both programs, at face value, were intended to help people (either get an education via student loans or support their business via PPP). The main caveat is that obviously PPP passed as a bill vs. executive action here, but if you can't see the similarities to what is happening, then you're playing partisan.

I actually support the notion of what debt forgiveness in both instances are supposed to do (spur our economy and get this generation out of park) but, it's big government, so they completely goofed it.
 
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To further clarify, I have no horse in either race. I haven't had a student loan in a decade and don't own a small business. I'm not going to vilify someone who took out a loan to save their small business and certainly don't think providing those with student loans that are preventing them from home ownership or financial autonomy an olive branch is a negative thing overall.

Just find it interesting where we collectively draw the line.
 
I would have preferred governments across the country not shut down businesses then provide loans that could be forgiven if employers spent the money on payroll or other costs they incurred while the government had them shut down. I would have also preferred some actual oversight after Congress passed a bill to fund the expenses of business that were shut down by governments across the country.

I'm not sure how one thinks a college kid borrowing money to spend on his own college degree, housing and partying and having Joe Biden wipe it away is the same thing as the government providing loans to businesses and telling them at the outset the funds were to be passed on to employees and would be forgiven if so.
 
I would have preferred governments across the country not shut down businesses then provide loans that could be forgiven if employers spent the money on payroll or other costs they incurred while the government had them shut down. I would have also preferred some actual oversight after Congress passed a bill to fund the expenses of business that were shut down by governments across the country.

I'm not sure how one thinks a college kid borrowing money to spend on his own college degree, housing and partying and having Joe Biden wipe it away is the same thing as the government providing loans to businesses and telling them at the outset the funds were to be passed on to employees and would be forgiven if so.

I would have preferred that we not tell every kid that made it through high school that they have to go to college if they want to succeed in the world and that the only way forward is through STEM. I would also prefer that we have more oversight in the way in which we provide federal student loans as there is hardly any oversight about who is allowed to get one based on any review of what you will be spending that money on (partying or an art history degree, you choose).

However, it's what we've done for thirty years and it's hamstrung an entire generation in the process. Maybe not handing an 18 year old a blank check to party should be the thought process moving forward, much like giving Kanye West, Reese Witherspoon, Jay-Z etc. multi-million dollar PPP loans with no oversight and forgiving it is idiotic.
 
I would have preferred that we not tell every kid that made it through high school that they have to go to college if they want to succeed in the world and that the only way forward is through STEM. I would also prefer that we have more oversight in the way in which we provide federal student loans as there is hardly any oversight about who is allowed to get one based on any review of what you will be spending that money on (partying or an art history degree, you choose).

However, it's what we've done for thirty years and it's hamstrung an entire generation in the process. Maybe not handing an 18 year old a blank check to party should be the thought process moving forward, much like giving Kanye West, Reese Witherspoon, Jay-Z etc. multi-million dollar PPP loans with no oversight and forgiving it is idiotic.

Of course the system needs to be reformed going forward. That’s not up for debate.

But comparing student loan forgiveness to PPP loans that congress said would be forgivable from the get go is just dumb.
 
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Of course the system needs to be reformed going forward. That’s not up for debate.

But comparing student loan forgiveness to PPP loans that congress said would be forgivable from the get go is just dumb.

If, for no other reason than 100 kids getting the equivalent of one Kanye west loan forgiven is dumb, then I'm for it. My tax dollars are wasted on so much stupid shit, why can't I appreciate that it may help someone? Why are only certain people allowed to make poor decisions and get bailed out by the government?

Now, I'm not disagreeing that this should be meted out via congress and not executive order but that's seemingly the only way anything has been done since 2000 so...
 
PPP loans were making up for the poor decisions of the government, not the poor decisions of the business owners and recipients.

Absent PPP loans, most businesses would have just laid off employees when their businesses were shut down. But Congress told the businesses if they kept people on payroll while shit down, the government would fund that payroll.

That’s not a defense of the PPP program. It’s just nonsensical to try and compare the two.
 
To further clarify, I have no horse in either race. I haven't had a student loan in a decade and don't own a small business. I'm not going to vilify someone who took out a loan to save their small business and certainly don't think providing those with student loans that are preventing them from home ownership or financial autonomy an olive branch is a negative thing overall.

Just find it interesting where we collectively draw the line.
You do have a dog in this fight though. If we pay off those loans with printed money then inflation will get even worse and will keep going for a longer period of time. You can ignore reality but not the consequences of reality.
 
We forgave 90% of PPP loans, spent 800 billion, had hardly any oversight and many economists think it did very little to actually help small businesses maintain staff/keep the lights on because it was so poorly targeted. The system that it was implemented through was so vague that more people were getting ripped off by it from fraud than a traditional application system and we declined hundreds of actual small businesses even though we still haven't (last I checked) spent all of those funds.

Both programs, at face value, were intended to help people (either get an education via student loans or support their business via PPP). The main caveat is that obviously PPP passed as a bill vs. executive action here, but if you can't see the similarities to what is happening, then you're playing partisan.
The main caveat is that the government shut down business (wrongly, as it turned out) against the will of the business owner, and at substantial risk to the economy.

College loans are taken freely at no risk (or so we thought) to anyone but the borrower.
 
Two things can be true at once. I can be happy for (deserving) individuals who get their student loans taken care of because the terms on those things are absurd. I can also think that this is the greatest example of Boss Tweed vote buying I've ever seen.

This was done entirely to try to keep Democrats from getting savaged in the midterm elections.
 
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There's a part of me that wants these kids to learn a lesson here and make them pay the debts (I had about 14k total by the time I graduated and paid off over about 6 years). Then there's a part of me that blames the stupidity of any system that cuts a blank check to an 18 year old to "get an education" without any other real screening. This was essentially another huge shift of wealth to university administrators (professors, staff, etc. didn't make more when the unlimited hikes in tuition went up.

It's just funny to me that we bitch about subsidizing "this generation" but don't get pissed about the other 50 million things we subsidize. Your tax dollars are wasted daily. If some kid has $10k less debt today as a result and may be able to finally look into buying a home (good luck with these rates) or get married, I'm for it.
You're for bailing out people on their horrific life choices?

Will you buy me a new car, please? It will allow me to clear up some cash to buy a home, and you're evidently for that.
 
The loan forgiveness is being challenged in multiple courts. If anyone gets legal standing, the debt forgiveness likely goes up in smoke. Congress never intended to give the Secretary of Education to power to forgive $500-$750 billion on a whim.
I worked three jobs to pay off my $33,000 student loan 7 years early.

My reward? They dropped my credit score by over 40 points.

Gotta love the way our system works here.

These college kids should learn to deal with their life choices. No one made them go to college. I worked and saved for 8 years before I went to a major state university, and then I worked as an RA in undergraduate school and a grad assistant in grad school, both while working numerous other jobs.

The modern spoiled brats need to learn to work for what they get in life. Screw their sob story. No one cared about mine.
 
The only way I would ever support student loan forgiveness is if the system that allowed the situation to develop is burned to the ground, and a new system is implemented. The student loan business and higher education are in the business of predatory lending.

This. The forgiveness is nothing more than an attempt to buy votes. It didn't even help the people who wisely refinanced at lower rates with private lenders (who have a federal guarantee).

Fast forward 5 years and we'll back to the start again since the underlying issue wasn't addressed
 
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