Student Debt Forgiveness?

[Dekster]

Is Joe Biden crazy or just stupid?

YHe continues to insist that all pay their fair share of taxes yet he wants to forgive $39 billion in students loans.

As I remember, no one is forced to take a loan, they sign on the line with an agreement to pay it back.

Yet Biden wants to forgive this debt while raising taxes to pay for it. He is just trying to buy votes, again, with his illegal actions.

He tried this before and was shot done by SCOTUS as this being an illegal action.

So back to the original question, is he stupid or just power mad and crazy?

The $39B are largely people who have already paid back at least what they were supposed to and refunds of people who overpaid. When they set up the income contingent repayments in 1994, they didn't set up a way to track the number of payments. Those started maturing in late 2019. Lawsuits started getting filed because servicers refused to release people who had paid in full. The Department of Ed then discovered that 1) they hadn't been tracking the total number of payments and 2) The servicers weren't either and 3) they cannot recalculate them retroactively because servicers didn't particularly care to keep records after a loan moved out of their hands . This particular program is primarily their way to settle all these lawsuits. The 1994 to 2013 records are apparently a shit show with massive gaps.

 

[Rye Catcher]

Try sticking to the topic. What you posted has nothing to do with the question, showing that you are merely trying to hijack the conversation. Bad bunny.

Seems you can't read and comprehend post #5.

 

[Concerned American]

The $39B are largely people who have already paid back at least what they were supposed to and refunds of people who overpaid. When they set up the income contingent repayments in 1994, they didn't set up a way to track the number of payments. Those started maturing in late 2019. Lawsuits started getting filed because servicers refused to release people who had paid in full. The Department of Ed then discovered that 1) they hadn't been tracking the total number of payments and 2) The servicers weren't either and 3) they cannot recalculate them retroactively because servicers didn't particularly care to keep records after a loan moved out of their hands . This particular program is primarily their way to settle all these lawsuits. The 1994 to 2013 records are apparently a shit show with massive gaps.

Sure, the financial sector doesn't keep redundant records. BULLSHIT. You have been indoctrinated.

 

[Catman51]

The $39B are largely people who have already paid back at least what they were supposed to and refunds of people who overpaid. When they set up the income contingent repayments in 1994, they didn't set up a way to track the number of payments. Those started maturing in late 2019. Lawsuits started getting filed because servicers refused to release people who had paid in full. The Department of Ed then discovered that 1) they hadn't been tracking the total number of payments and 2) The servicers weren't either and 3) they cannot recalculate them retroactively because servicers didn't particularly care to keep records after a loan moved out of their hands . This particular program is primarily their way to settle all these lawsuits. The 1994 to 2013 records are apparently a shit show with massive gaps.

With your last sentence, you appear to be citing the Biden administration.

 

[Catman51]

Seems you can't read and comprehend post #5.

I started the thread, so I have a very good idea of what it is about. You, with your attempts to hijack the thread show that you have no comprehension of what the subject is.

Says an awful lot about you.

 

[Dekster]

With your last sentence, you appear to be citing the Biden administration.

The Biden Administration is a shit show and they have been jerking borrowers around for 2 years, but that doesn't change the reality if your loan required you to pay for 20 years and you now have paid for 23 years with no end in sight to avoid being thrown in default and have your credit trashed and collections activities initiated, you would be pretty pissed too. How the Cato institute thinks it has standing to stop this is beyond me even with this bent dick supreme court majority the conservative anarchists have. I paid off mine and the wife's loans as soon as I possibly could way early just to get out of the screwed up system they have. If you have never had to deal with the clusterfuck of the Department of Education and their ever-changing servicers, count your lucky stars.

 

[Independentthinker]

Is Joe Biden crazy or just stupid?

YHe continues to insist that all pay their fair share of taxes yet he wants to forgive $39 billion in students loans.

As I remember, no one is forced to take a loan, they sign on the line with an agreement to pay it back.

Yet Biden wants to forgive this debt while raising taxes to pay for it. He is just trying to buy votes, again, with his illegal actions.

He tried this before and was shot done by SCOTUS as this being an illegal action.

So back to the original question, is he stupid or just power mad and crazy?

The courts just ruled against him.

AGAIN

 

[Resnic]

Is Joe Biden crazy or just stupid?

YHe continues to insist that all pay their fair share of taxes yet he wants to forgive $39 billion in students loans.

As I remember, no one is forced to take a loan, they sign on the line with an agreement to pay it back.

Yet Biden wants to forgive this debt while raising taxes to pay for it. He is just trying to buy votes, again, with his illegal actions.

He tried this before and was shot done by SCOTUS as this being an illegal action.

So back to the original question, is he stupid or just power mad and crazy?

He never intended to pay them off to begin with.

This is a win win for him.

He wins because he stood in front of the nation and said we should forgive loans which made a shit load of useless kids cheer for him and he got to look like a good guy to the young generation. It was just a big PR stunt.

When it doesn't go through he wins because his administration can blame it all on trump and republicans as to why these kids don't get their loans paid off.

 

[Catman51]

The Biden Administration is a shit show and they have been jerking borrowers around for 2 years, but that doesn't change the reality if your loan required you to pay for 20 years and you now have paid for 23 years with no end in sight to avoid being thrown in default and have your credit trashed and collections activities initiated, you would be pretty pissed too. How the Cato institute thinks it has standing to stop this is beyond me even with this bent dick supreme court majority the conservative anarchists have. I paid off mine and the wife's loans as soon as I possibly could way early just to get out of the screwed up system they have. If you have never had to deal with the clusterfuck of the Department of Education and their ever-changing servicers, count your lucky stars.

I have had to deal with the DOE and paid off my bills like a responsible person.

If the loans are being extended beyond the contract terms, see a lawyer to fight them. Hold them to the commitment of the contract. Problem solved. Do it Bidens way and everyone has to pay your way for years.

Sounds just like a democrat plan.

 

[Catman51]

The courts just ruled against him.

AGAIN

The law has never stopped Biden from attempting to break it, continually.

 

[Catman51]

He never intended to pay them off to begin with.

This is a win win for him.

He wins because he stood in front of the nation and said we should forgive loans which made a shit load of useless kids cheer for him and he got to look like a good guy to the young generation. It was just a big PR stunt.

When it doesn't go through he wins because his administration can blame it all on trump and republicans as to why these kids don't get their loans paid off.

With no mention of his administration being responsible for the tenuous nature of the loans which are force because the colleges raise their rates as high as possible at the urging of the government.

 

[Dekster]

I have had to deal with the DOE and paid off my bills like a responsible person.

If the loans are being extended beyond the contract terms, see a lawyer to fight them. Hold them to the commitment of the contract. Problem solved. Do it Bidens way and everyone has to pay your way for years.

Sounds just like a democrat plan.

As I said before people are suing. Problem is the DoE doesn't officially know if they satisfied their required number of payments or not. It is not an issue of the balances. Those repayment plans were created in 1994. If you objected to them, that was the time to do it. You got a 20 year or a 25 years plan (that were reduced to 10 if you worked that many years for the government/non-profits), you payments were based on your income as it changed, and at the 20 or 25 year mark (or 10 for those some) your loan was discharged. Those were the terms. The government is breaching its own terms by not discharging them as required. This is not because of Biden. William Jefferson Clinton created these plans with no system to make sure the government had a count on the number of payments you made toward them.

 

[task0778]

He never intended to pay them off to begin with.

This is a win win for him.

He wins because he stood in front of the nation and said we should forgive loans which made a shit load of useless kids cheer for him and he got to look like a good guy to the young generation. It was just a big PR stunt.

When it doesn't go through he wins because his administration can blame it all on trump and republicans as to why these kids don't get their loans paid off.

This is pretty much SOP for the democrats, no?

 

[Catman51]

As I said before people are suing. Problem is the DoE doesn't officially know if they satisfied their required number of payments or not. It is not an issue of the balances. Those repayment plans were created in 1994. If you objected to them, that was the time to do it. You got a 20 year or a 25 years plan (that were reduced to 10 if you worked that many years for the government/non-profits), you payments were based on your income as it changed, and at the 20 or 25 year mark (or 10 for those some) your loan was discharged. Those were the terms. The government is breaching its own terms by not discharging them as required. This is not because of Biden. William Jefferson Clinton created these plans with no system to make sure the government had a count on the number of payments you made toward them.

Still started by a democrat and eagerly followed by Bumbling Biden with no concept o the reality of what is happening.