Student Loan Forgiveness

[Boba Foot]

This is essentially socialism

Social security is socialism. If it’s still there when we retire, you can give me your social security checks since you hate it so much.

Student loans should be interest free? In what world is any loans interest free?

PPP loans were interest free and completely written off. If the we can invest in keeping jobs and business doors open during a pandemic (or buy business owners Porsches in some cases), why can’t we invest in educating the future of society? Giving an interest free loan is the least the government could do.

Forgiving 10K does nothing for 90% of the borrowers and doesn't address the problem which is #1.

It actually paid off most or all of the student loan balances for 40-50% of student loan balance holders.

The only way to fix this is to take the gov out of bad loans but never will happen

And it should never happen because private lenders made an entire industry out of taking advantage of loan recipients. Ever heard much about how horrible payday lenders are?

education will continue to skyrocket unless the gov gets out.

Education skyrocketed BECAUSE the government got out. States cut funding for higher Ed, passing the cost on to students who were able to pay it through very large student loans.

Imagine if the gov guaranteed all HS students a low interest loan for a new car. Most would be glad to take max and drive off the lot with a Tesla. Do you really think an 18 yr old can make the correct decision.

This is a stupid analogy.

The start of tuition drastic inflation coincided with gov back loans. Anyone who does not see this does not understand economics.

See above, tuition inflation coincided with states cutting funding for higher education.

Good talk, Greenspan.

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[Boba Foot]

Lest say that your simple approach is correct and it is as simple as helping people out. Why don't we just help everyone making under 250K out by forgiving all student loans, all home loans, all car loans, all consumer debt. Why not just make every middle class debt free so they can go out and enjoy life/buy a house/not worry about money.

Because home loans, car loans and consumer debt are private loans and the federal government has no authority over private loans. Thus, private student loans were not affected by the recent action by Biden.

This is such a silly post it doesn’t even warrant a response, yet here I am…..

 

[air bud]

I’m having a bourbon… my entire federal loans of over 300k was just forgiven because of PSLF. 3 years of residency and 7 years in the country. I have no clue what do with myself now. 🥃

How is your tax bill?

 

[dtrack22]

How is your tax bill?

PSLF forgiveness isn’t considered taxable income

 

[Utvolsdpm]

what are these low interest loans you speak of?

 

[Scrantonicity]

I'm working for the government starting October---hoping to skate in just under the wire on that PSLF waiver (expires October 31st)...so that means all the payments I've made to this point (I've been out for 10 years) will count...so my loans (over 300K) will be forgiven tax free in a few months if all works out. Just hoping it's gonna work like I've been told it will...

 

[newfeet]

How is your tax bill?

It isn't taxable. My state also put out a statement stating it isn't taxable.

 

[podwho]

Lest say that your simple approach is correct and it is as simple as helping people out. Why don't we just help everyone making under 250K out by forgiving all student loans, all home loans, all car loans, all consumer debt. Why not just make every middle class debt free so they can go out and enjoy life/buy a house/not worry about money.

It’s not MY simple approach. I didn’t ask for it, vote for it, or even agree with it. It’s only 10k. Someone with 200k debt got MORE $ relief from the pause than the forgiveness but no one shouted resume the payments. But it’s done already and I’m not bitter about it, good for everyone who benefited. Everything else you said is stupid and not worth a reply, clearly your upset.

 

[Pronation]

All of this stuff is really confusing for me. Can somebody just tell me what speed I should set my dremel to when I am doing major toenail surgery? Thanks

 

[Shiyuan]

All of this stuff is really confusing for me. Can somebody just tell me what speed I should set my dremel to when I am doing major toenail surgery? Thanks

Ludicrous speed.

 

[PointyNippers]

Ludicrous speed.

but thermal necrosis bro listen to me bro plz bro don't inhale fungal spores plz listen bro