Biden’s student loan cancellations to cost taxpayers $559B as households earning $300K benefit the most: study

[OldFlame]

And yet those who go to college wind up earning far more than those who don’t.

I have nothing against trades and think they’re valuable to society as well.

The only one devaluing anyone here is you.

And STILL no answer for why they shouldn't be paying back their own fucking loans, since they're making so much more than everyone else. Derp, derp.

 

[Orangecat]

Is there something wrong with my math?

There's something wrong with your brain. Whether or not it affects your math skills is irrelevant.

 

[Hollie]

Nothing wrong with taking advantage of a student loan forgiveness program.

Makes them smart.

Loans are not forgiven. The debt is placed on taxpayers.

 

[Nostra]

Nothing about cancellation of payments and unpaid commitments assumed by the taxpayer.

Is that why the USSC ruled Biden's vote buying scheme was illegal?

Moroner is full of shit, as always.

 

[OldFlame]

They’re not being compensated by taxpayers who earn less.

They're being compensated by tax payers, period, while they're out there being in the top percentage of wage earners. There is no spin that makes this work for you, they should pay their own damn debt.

 

[Marener]

If you forgive their student loan thats taxpayer compensation

Low income people are subsidized by high income people.

All this does is reduce the degree of that subsidy slightly.

But low income people aren’t harmed by this. You’re just trying to gin up class warfare. Nothing but stoking hatred and division.

 

[Hollie]

It’s just one type of loan not covered by the plan. others are. No big deal.

It is a big deal. It's more than $1/2 Trillon dollars that is added to the deficit. Do you not understand that deficits are paid for by taxpayers in various ways?

 

[Marener]

Loans are not forgiven. The debt is placed on taxpayers.

People with college degrees pay taxes. More than those without college degrees.

 

[Orangecat]

Nothing wrong with taking advantage of a student loan forgiveness program.

Makes them smart.

That doesn't make it right. If you borrow money, do you pay it back, marener?

 

[Marener]

That doesn't make it right. If you borrow money, do you pay it back, marener?

I pay back exactly what I’m required to, and not more.

Do you expect these people to pay back more than is required?

 

[OldFlame]

Low income people are subsidized by high income people.

All this does is reduce the degree of that subsidy slightly.

But low income people aren’t harmed by this. You’re just trying to gin up class warfare. Nothing but stoking hatred and division.

I don't care whether low income people are harmed or not, middle income and high income people are, the US tax payer should not be on the hook for other's debt, period. You are just incapable of understanding that no one owes you a damn thing, and the government isn't here to 'help' people get out of debt that they created. And then you argue that they're making more than everyone else, while expecting others to pay for their debt. How can anyone be this stupid??? The core concept of the US taxpayer being taxed to pay off the debt of others is ludicrous, I don't care what other extenuating circumstances are, and you have yet to bring one viable reason as to why it should be done at all. It's WRONG.

 

[OldFlame]

People with college degrees pay taxes. More than those without college degrees.

Irrelevant.

 

[Orangecat]

I pay back exactly what I’m required to, and not more.

Do you expect these people to pay back more than is required?

What you're required to pay back is stipulated in the loan contract, correct?
No one should pay back more than the contract they freely signed requires.

 

[OldFlame]

I pay back exactly what I’m required to, and not more.

Do you expect these people to pay back more than is required?

Required is the full amount, plus interest, and what was stated on the loan contract they signed.

Having the government change what is 'required' is exactly what we're arguing against.

 

[Nostra]

It literally said cancel in the part that I quoted.

The USSC ruling had nothing to do with income driven repayment plans.

Are you trolling?

the Secretary shall repay or cancel any outstanding balance of principal and interest due on all loans made under part B or D

Then why is the SC bitchslapping Tater for exceeding his Constitutional authority?

 

[OldFlame]

What you're required to pay back is stipulated in the loan contract, correct?
No one should pay back more than the contract they freely signed requires.

The federal government should get out of the student loan business altogether, as well as housing loans, it should all be done at the private sector level. If a university wants more enrollment, then let them loan the money out and take the risk, let them lower their salaries to the point where the average person can afford to go. The money wasted at these universities is ridiculous, I speak from personal experience.

 

[Marener]

What you're required to pay back is stipulated in the loan contract, correct?
No one should pay back more than the contract they freely signed requires.

The law stipulates what is required.

No one should pay back more than the law requires.

 

[Nostra]

People with college degrees pay taxes. More than those without college degrees.

So? Why should anyone pay for loans they didn’t take out?

 

[Nostra]

I pay back exactly what I’m required to, and not more.

Do you expect these people to pay back more than is required?

They should pay the loans back per the agreement they signed when they took the money, Simp. In full, with interest.

 

[Orangecat]

The federal government should get out of the student loan business altogether, as well as housing loans, it should all be done at the private sector level. If a university wants more enrollment, then let them loan the money out and take the risk, let them lower their salaries to the point where the average person can afford to go. The money wasted at these universities is ridiculous, I speak from personal experience.

I've often contended that the solution to this problem is requiring the schools themselves to co-sign any loans given to their students. The repercussions of this policy would be both immediate and beneficial to all involved parties.