Student loan debt forgiveness

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2020-11-18 6:39 AM

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Champion
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Alabama
Subject: Student loan debt forgiveness
Student loan debt forgiveness?

Of all the ridiculous socialist ideas the Dems are pushing right now the one that galls me the most is “forgiving” student loan debt. A few thoughts:

1. When you sign your name on a loan contract you are giving your word that you will pay it back. What messages are will be sent to young people if you allow them to renege?

2. Two people graduate and have the same debt. One lives high on the hog and makes minimal payments on their loans. One lives frugally and pays off their debt. Now you are gonna reward the person who hasn’t paid his loans?

3. How far back will they try to go? If you graduated 5 years ago will that qualify? What about 15 years?

4. What message are you sending current students who are taking out loans?

5. What about the people who decided not to go to college and rack up debt? So now these working class people have to pay off the loans of college graduates?

6. What about those that went to college for a year or two just to party and then quit or flunked out? Do we now pay for their failures?

7. Who decides whose loans get ‘forgiven’? If you make $100k are you eligible? $100k in NYC doesn’t go as far as $100k in rural Alabama.

8. If you graduated last year and sold your truck to pay on your loans and make ends meet should the government buy you a new truck?

To me, this is about personal responsibility and holding people accountable for the decisions they make.

When my wife and I graduated we had the equivalent of 2 brand new cars’ worth of student loan debt. Certainly enough for a nice down payment on a house. But we didn’t buy a house for several years. Instead with lived within our means and paid off our debt.

I will also add that some people take out student loans not because they ‘need’ the money for education but get the loans to live a little higher on the hog during college. So do we pay off their debt even though they used some of the money to travel around Europe for a while? And yes, this is exactly what I did my senior year. Should the taxpayers pay for this?

Edited by Rogillio 2020-11-18 6:45 AM

2020-11-18 7:24 AM
in reply to: Rogillio

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Champion
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Tacoma, Washington
Subject: RE: Student loan debt forgiveness

Originally posted by Rogillio To me, this is about personal responsibility and holding people accountable for the decisions they make.

You've reached the crux of the divide.

2020-11-19 7:57 AM
in reply to: Rogillio

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Extreme Veteran
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Subject: RE: Student loan debt forgiveness


Why are they proposing this ?

At first I thought it was one of several steps to make education more affordable. I agree more affordable education would be a good thing but pardoning previous debt doesn't sound like the best way to get there. If this is what they are trying that's one conversation, but I don't think this is what they are after.

But now I am reading it's a form of economic relief. At first that doesn't seem fair because it only helps those that have accumulated student debt. Doesn't make sense

But then I read it's because it's one of the few forms of relief the president could do by executive order and not need other government bodies to sign off on. Is this the case ?

2020-11-19 9:38 AM
in reply to: marcag

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Champion
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Albuquerque, New Mexico
Subject: RE: Student loan debt forgiveness

Originally posted by marcag Why are they proposing this ? At first I thought it was one of several steps to make education more affordable. I agree more affordable education would be a good thing but pardoning previous debt doesn't sound like the best way to get there. If this is what they are trying that's one conversation, but I don't think this is what they are after. But now I am reading it's a form of economic relief. At first that doesn't seem fair because it only helps those that have accumulated student debt. Doesn't make sense But then I read it's because it's one of the few forms of relief the president could do by executive order and not need other government bodies to sign off on. Is this the case ?

That’s the speculation, but forgiving debt IS spending money and Congress owns the purse so it’s a huge overreach in addition to an overall bad idea.  

2020-11-19 11:13 AM
in reply to: 0

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Subject: RE: Student loan debt forgiveness
Originally posted by McFuzz

Originally posted by marcag Why are they proposing this ? At first I thought it was one of several steps to make education more affordable. I agree more affordable education would be a good thing but pardoning previous debt doesn't sound like the best way to get there. If this is what they are trying that's one conversation, but I don't think this is what they are after. But now I am reading it's a form of economic relief. At first that doesn't seem fair because it only helps those that have accumulated student debt. Doesn't make sense But then I read it's because it's one of the few forms of relief the president could do by executive order and not need other government bodies to sign off on. Is this the case ?

That’s the speculation, but forgiving debt IS spending money and Congress owns the purse so it’s a huge overreach in addition to an overall bad idea.  




It unfair to me. I would hope he tries to strike a deal to do it fairly.

So

Trump : I want to build a wall
Congress : no money for you. Too many trillions of debt.
Trump : Fine, I'll take it from somewhere else even though that expense was appropriated to something else
Left : he's a racist

Biden : I want to provide relief during hard times
Congress : no money for you. Too many trillions of debt.
Biden : Fine, I'll forgive debt in lieu.
Right : he's a socialist.

Did I get this right ?


Edited by marcag 2020-11-19 11:38 AM
2021-12-16 11:10 AM
in reply to: Rogillio


1

Subject: RE: Student loan debt forgiveness
Interesting discussion on this topic. I have read on many sources about this including Fit My Money. I think it is form of economic relief. it has to do with the economic situation. It is difficult for the population to pay their small debts, and the student loan is quite large. The total debt was $1.73 trillion by July 2021, the numbers are impressive.

2021-12-27 4:51 PM
in reply to: marcag

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Master
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White Oak, Texas
Subject: RE: Student loan debt forgiveness
It is nothing more than a way to try to get votes forgive this give that and now they can say see what I did for you vote for me to get more. This is where my Ice cream analogy can explain what is going on. Democrats say very loudly EVERYONE DESERVED FREE ICECREAM VOTE FOR US AND GET 2 FREE SCOOPS. Republican mumble under their breath 2 scoops is too much we must limit it to 1 free scoop. Libertarians stop running their businesses for a moment and shout IF YOU WANT ICECREAM BUY YOU OWN DAMM ICECREAM. This is why Libertarians don't win.
2021-12-28 7:12 PM
in reply to: CBarnes

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Extreme Veteran
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Subject: RE: Student loan debt forgiveness
Originally posted by CBarnes

It is nothing more than a way to try to get votes forgive this give that and now they can say see what I did for you vote for me to get more. This is where my Ice cream analogy can explain what is going on. Democrats say very loudly EVERYONE DESERVED FREE ICECREAM VOTE FOR US AND GET 2 FREE SCOOPS. Republican mumble under their breath 2 scoops is too much we must limit it to 1 free scoop. Libertarians stop running their businesses for a moment and shout IF YOU WANT ICECREAM BUY YOU OWN DAMM ICECREAM. This is why Libertarians don't win.


As a Canadian I am no expert on the subtleties of Republican vs Libertarrian vs .....

But having seen a few Americans on the beaches of Florida and heard some of the rhetoric on politics, I'd think you need to push higher education a little more and ice cream a little less.
2021-12-29 10:36 PM
in reply to: marcag

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Pro
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Subject: RE: Student loan debt forgiveness

Originally posted by marcag
Originally posted by CBarnes It is nothing more than a way to try to get votes forgive this give that and now they can say see what I did for you vote for me to get more. This is where my Ice cream analogy can explain what is going on. Democrats say very loudly EVERYONE DESERVED FREE ICECREAM VOTE FOR US AND GET 2 FREE SCOOPS. Republican mumble under their breath 2 scoops is too much we must limit it to 1 free scoop. Libertarians stop running their businesses for a moment and shout IF YOU WANT ICECREAM BUY YOU OWN DAMM ICECREAM. This is why Libertarians don't win.
As a Canadian I am no expert on the subtleties of Republican vs Libertarrian vs ..... But having seen a few Americans on the beaches of Florida and heard some of the rhetoric on politics, I'd think you need to push higher education a little more and ice cream a little less.

 

Hard to argue that. LMAO

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