Biden's America

[Danny Bateman]

Ahhh yes, Republican champions of equity, as evidenced by every tax bill they’ve ever released, wherein they bend over for their corporate megadonor Daddies and proudly present the rest of America with shiny new bootstraps to help us help ourselves.

 

[Lorewarn]

"Why is our tax money going to some people's benefit and not all people's or some other arbitrarily grabbed group of people's benefit as well?" is not a compelling question against the contextual backdrop of the entire history of taxation in our country.

 

[teachercd]

Why college though?

Why not home loans?  There are more people that are "literally" being crush by mortgages.  Why not 35K to them?

How many people would 100% be on board with getting 35K to use towards your house and/or home loan?

 

[RedDenver]

Why college though?

Why not home loans?  There are more people that are "literally" being crush by mortgages.  Why not 35K to them?

How many people would 100% be on board with getting 35K to use towards your house and/or home loan?

The law was change to make it impossible to discharge student loan debt in bankruptcy. Meanwhile bankruptcy allows you to protect your home from being lost. And there are predatory interest rates for student loans (>17%) that can be applied at a later time much like the NINJA home loans that were outlawed after the Great Recession.

 

[JJ Husker]

The law was change to make it impossible to discharge student loan debt in bankruptcy. Meanwhile bankruptcy allows you to protect your home from being lost. And there are predatory interest rates for student loans (>17%) that can be applied at a later time much like the NINJA home loans that were outlawed after the Great Recession.

Well then wouldn’t the more fair thing be to allow student debt to be discharged in bankruptcy instead of willy nilly picking one group of people to help. I mean the argument can be made that people who went to college and ran up the debt should be better positioned to pay all their debts. What about the plumber or non-college educated person who has a mortgage they can’t pay? Dischargeable in bankruptcy is no argument for this handout. It’s bulls#!t. You sign loan papers, you pay it back. If the thing you borrowed money for wasn’t actually worth it, shouldn’t that be the problem of those who chose to go into debt? There’s nothing magical about a college education.

If they want to help, start by implementing measures that make college more affordable. Don’t reward poor choices while effectively punishing others.

 

[teachercd]

The law was change to make it impossible to discharge student loan debt in bankruptcy. Meanwhile bankruptcy allows you to protect your home from being lost. And there are predatory interest rates for student loans (>17%) that can be applied at a later time much like the NINJA home loans that were outlawed after the Great Recession.

Ahhh, thanks!

 

[Lorewarn]

Well then wouldn’t the more fair thing be to allow student debt to be discharged in bankruptcy instead of willy nilly picking one group of people to help. I mean the argument can be made that people who went to college and ran up the debt should be better positioned to pay all their debts. What about the plumber or non-college educated person who has a mortgage they can’t pay? Dischargeable in bankruptcy is no argument for this handout. It’s bulls#!t. You sign loan papers, you pay it back. If the thing you borrowed money for wasn’t actually worth it, shouldn’t that be the problem of those who chose to go into debt? There’s nothing magical about a college education.

If they want to help, start by implementing measures that make college more affordable. Don’t reward poor choices while effectively punishing others.

The argument can also be made that the forgiveness plans are taking us back to the mean, when (for example, in 1990) the government provided 75% of college education funding/cost burden compared to less than 50% now. There's also plenty of arguments to be made in regards to how this helps the economy more than it could ever be perceived as punishing anyone else.

While I agree that legitimate reform of the whole system is needed, and this doesn't solve that problem, they're only topically related. One is something the administration actually has the ability to do without congressional approval, and is a remedy to some degree for many negatively affected by previous policy failures, and the other is...well, at least right now a complete pipe dream in terms of feasibility without Democrat majority. 

Why do folks who have a problem with any form of student debt forgiveness not have anything to say in regards to food stamps, SSI, and welfare? 

 

[Archy1221]

Why college though?

Why not home loans?  There are more people that are "literally" being crush by mortgages.  Why not 35K to them?

How many people would 100% be on board with getting 35K to use towards your house and/or home loan?

Very good question.  Or credit card debt.  I’m sure people are getting crushed with that and don’t want to have a bankruptcy on their record.   Or maybe they got in over their head with a car loan and rolled it over to the next car and now can’t get out from under it? 

 

[Archy1221]

Well then wouldn’t the more fair thing be to allow student debt to be discharged in bankruptcy instead of willy nilly picking one group of people to help.

This is a very very very good point that I had also brought up last time we all talked about it.   There isn’t a real good reason for SL debt to not be discharged during a BK in my mind. 

 

[Archy1221]

And there are predatory interest rates for student loans (>17%) that can be applied at a later time much like the NINJA home loans that were outlawed after the Great Recession.

I was thinking that private student loans are not eligible for loan forgiveness 

 

[teachercd]

Very good question.  Or credit card debt.  I’m sure people are getting crushed with that and don’t want to have a bankruptcy on their record.   Or maybe they got in over their head with a car loan and rolled it over to the next car and now can’t get out from under it? 

Credit Card debt is evil.  I got in over my head once before.  

 

[teachercd]

The argument can also be made that the forgiveness plans are taking us back to the mean, when (for example, in 1990) the government provided 75% of college education funding/cost burden compared to less than 50% now. There's also plenty of arguments to be made in regards to how this helps the economy more than it could ever be perceived as punishing anyone else.

While I agree that legitimate reform of the whole system is needed, and this doesn't solve that problem, they're only topically related. One is something the administration actually has the ability to do without congressional approval, and is a remedy to some degree for many negatively affected by previous policy failures, and the other is...well, at least right now a complete pipe dream in terms of feasibility without Democrat majority. 

Why do folks who have a problem with any form of student debt forgiveness not have anything to say in regards to food stamps, SSI, and welfare? 

My guess, most people don't choose to go on food stamps...

Unless you think people getting food stamps want to live that way.  

With that said, if I had student loan debt I would LOVE for it to disappear, just like any debt that I have.  100% for anything that helps me.

 

[Lorewarn]

This is a very very very good point that I had also brought up last time we all talked about it.   There isn’t a real good reason for SL debt to not be discharged during a BK in my mind. 

I agree, but per my understanding, updates to bankruptcy law would have to go through Congress, ie, isn't going to happen. 

My guess, most people don't choose to go on food stamps...

Unless you think people getting food stamps want to live that way.  

I don't think people want to live on food stamps, and I don't think people want to live with crippling debt they can't get out from under either.

I think both are comprised mostly of people with a combination of ignorance, mistakes, struggle, advantages, disadvantages, and any amount between 0-100% of desire to better their situation. 

 

[teachercd]

I agree, but per my understanding, updates to bankruptcy law would have to go through Congress, ie, isn't going to happen. 

I don't think people want to live on food stamps, and I don't think people want to live with crippling debt they can't get out from under either.

I think both are comprised mostly of people with a combination of ignorance, mistakes, struggle, advantages, disadvantages, and any amount between 0-100% of desire to better their situation. 

I ended up with crippling debt from CC's.  I would not wish that on anyone.  It was horrible.

I don't think most people with CC are ignorant though and I don't think most people with college debt are ignorant, not towards the debt part anyway, but some are ignorant towards the major.  

I work with more than a few teachers that went to places like Creighton and paid 5 times what it would have cost them at UNO...

Again, I am all for the G'ment giving me (or anyone else) money for their debts.  I welcome it! 

And of course you don't think people want to be on food stamps, you are normal and sane.  But there are a lot of people that do think that, because they are horrible people.

 

[Archy1221]

The argument can also be made that the forgiveness plans are taking us back to the mean, when (for example, in 1990) the government provided 75% of college education funding/cost burden compared to less than 50% now.

If that argument is made, it would be a silly one.  For starters, many many private institutions are taking student loan dollars.

There's also plenty of arguments to be made in regards to how this helps the economy more than it could ever be perceived as punishing anyone else.

Please expand…..especially on how forgiving/paying for other types of debt wouldn’t give the same economic benefit.  I.e..freeing up funds to buy more stuff. 
 

Why do folks who have a problem with any form of student debt forgiveness not have anything to say in regards to food stamps, SSI, and welfare? 

Maybe because those two things are nothing alike.