If only…

I could have other people contribute their $ to a debt that I have chosen for myself or my children…just think of the possibilities!

This decision absolutely saddens. No, disgusts me. We are not teaching our kids anything about being responsible, financially intellectual, etc. Decisions bring consequences. I knew I was going to college – and had to take out loans because of my decision. It was the right thing to do and my consequence was paying off my loans!

Was wondering when the post would start…it’s ridiculous

If it actually addressed the problem (lending of predatory loans) then I would be all for it. Instead, it is essentially buying votes. And anyone who went to a MIAC school between 2012-current knows how little $10K is.

I always find it interesting where other people draw the line in discretionary govt spending….

What they really need to do is something to address how ridiculously expensive it is for tuition these days. I could not even imagine being saddled with that much debt coming out of college. I told my kids they should go into the trades and my middle one had already made plans to do that. In most cases the companies will pay to train you. Huge win.

Coming from someone currently repaying student loans (both federal and private) until we fix the root of the problem this will only be a temporary bandaid. When I was in high school, we were essentially told that we HAD to have a 4 year degree if we wanted to have a decent career, and needed to pay for it by any means possible (to include student loans). In hind sight, obviously this isn’t true, and there are a ton of people out there who took out loans for a meaningless degree that has landed them in a low paying career field and are unable to effectively pay back their loans. Both my wife and I have loans, but have good paying jobs because of our degrees. We live within our means and have been paying up to $1200 extra on our loans each month for the past 4 years or so in an effort to get rid of them as soon as possible (we’ve been making good progress BTW).

That being said, personally I’m quite conflicted internally by this. Would elimination of $10k of debt make a difference in our situation? Your darn right it would, and I’m not even sure if there is a way in which you could opt out of the forgiveness if you so chose.

Like all handouts, it incentivizes laziness. If I hadn’t paid my loans off, I would almost certainly quit my job in order to obtain the forgiveness, then find a new job after all the paperwork is done.

If I were just finishing college, I would not seek out gainful employment until all the paperwork is done.

Frankly, I hope this is challenged in court and loses. The ONLY path towards any kind of loan forgiveness is to place the burden on the institutions who handed out the worthless degrees. Make the universities foot the bill for forgiveness, not the taxpayers.

I paid for one tuition and the only other one I intend to pay for is my son’s.

I will be one who “benefits” from this but this is just absolutely a thing to buy votes. You choose to go to college, you choose to buy a house, you choose to buy a car. Can the government give me 10k for my truck loan?! No! This is going to going to make inflation worse and is extremely unfair for those who paid before to make their education better.

Most people don’t realize how bad this really is.

I graduated from college in 2006 and have friends who graduated with me that still have student loans to pay off because they decided to pay the minimum and buy other things. Now they get a bailout.

The government should work on making college more affordable.

This post wont age well but I understand it.

ganderpike wrote:

it is essentially buying votes.

This is all this Is ^^^^

I admittedly don’t know the ins and outs of all the loan factors and what this decision does but on the surface I don’t like it either. I do feel for people that got stuck with predatory lending, but in my opinion, like others have said, people knew what they were getting into, right?

I’m fortunate enough, although you could say I earned it, to be going through some online schooling through the GI bill, I feel like this kind of devalues that as well.

At least it’s not free college, which is a different rant.

I would agree with Cpt. Musky as well, the college situation in our country is a joke. As someone who currently is attending online school, to me everything seems like a racketeering situation. There’s this much debt because it costs too damn much.

We’ve transitioned completely to e-books now, but when we had physical books you’d pay well over $100 for a stupid textbook. I think one time I was charged $60 or so for a book that turned out to be a 3-ring binder with pages I had to put in myself. Then, get this, the school has great news for you…they’ll make it easy when you’re done and buy your book back for like $12! And probably turn it around and sell it as lightly used for $95.

Absolutely ridiculous. I too hope this is challenged in the courts and gets struck down.

I took out loans for college. I paid off my loans as I was required to. Where do I sign up for a $10k refund?

Gotta narrow that racial wealth gap I guess. How do it cost more for a black person to go to college?

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What are the stipulations of the forgiveness? Who qualifies? Who doesn’t?

Coletrain27 wrote:

Gotta narrow that racial wealth gap I guess. How do it cost more for a black person to go to college?

Agreed. I saw similar things yesterday too and wondered how student loans unfairly targeted certain groups.

Last time I checked…..

Well look at that, still the same.

What a President Can Do and Cannot Do

A PRESIDENT CAN . . .

-make treaties with the approval of the Senate.
-veto bills and sign bills.
-represent our nation in talks with foreign countries.
-enforce the laws that Congress passes.
-act as Commander-in-Chief during a war.
-call out troops to protect our nation against an attack.
-make suggestions about things that should be new laws.
-lead his political party.
-entertain foreign guests.
-recognize foreign countries.
-grant pardons.
-nominate Cabinet members and Supreme Court Justices and other high officials.
-appoint ambassadors.
-talk directly to the people about problems.
-represent the best interest of all the people

A PRESIDENT CANNOT . . .

-make laws.
-declare war.
-decide how federal money will be spent.
-interpret laws.
-choose Cabinet members or Supreme Court Justices without Senate approval.

Dan wrote:

<div class=”d4p-bbt-quote-title”>Coletrain27 wrote:</div>
Gotta narrow that racial wealth gap I guess. How do it cost more for a black person to go to college?

Agreed. I saw similar things yesterday too and wondered how student loans unfairly targeted certain groups.

I didn’t read that it costs more for a black person to go to college or that student loans unfairly target certain groups. I assume that on average blacks take out larger loans and have more college debt because on average they don’t have the same amount of financial wealth and support while heading into college as their white peers. Hence the racial wealth gap.

So do they people who busted their ass to pay theirs back already get a 10k check? Do the kids who couldnt afford to go at all get 10k or is just for the people who tried the least to pay it off?

Jon Jordan wrote:

A PRESIDENT CANNOT . . .

-make laws.
-declare war.
-decide how federal money will be spent.
-interpret laws.
-choose Cabinet members or Supreme Court Justices without Senate approval.

This is what I have the biggest problem with. All of this excessive spending is going to cripple the economy for years.

Dan wrote:

Then, get this, the school has great news for you…they’ll make it easy when you’re done and buy your book back for like $12! And probably turn it around and sell it as lightly used for $95.

College text books were the biggest scam out there lol. The best line was “oh sorry, they’re moving to a new edition and your text book has no trade in value.”