Executive Order to forgive $50,000 in student debt

[progressive hunter]

If banks and businesses didn't have to pay the money back, I don't see why all should not be held to the same standard.

the same standard is for all of them to pay back their debts,,,

teo wrongs dont make a right,, they make it dbl bad,,

 

[airplanemechanic]

More like:

Were you responsible and paid off your student loan debt? You did?

YOU STUPID MOTHER FUCKER!!!! HAHAHA!!!

yes, thirty five years ago.

Good, what about the 20 and 30 somethings that just finished paying off their loans in December working two jobs, eating Raman noodles and tv dinners to get by so they can be responsible adults and pay back money they owe? What do you tell those people?

 

[DudleySmith]

They should get it back from the universities for their defrauding the govt. with that loan sharking scam, and from every company who ever lied about those totally fictitious 'labor shortages' that misled many to think their majors were economically sound choices. They should also face criminal charges as well. And banks, too, should be seized and their shareholders'personal assets siezed, and refunds distributed.

 

[toobfreak]

FREE STUFF !!! SOCIALISM !!! YAY !!!

QUICK! JOE! I'm a student of life! Don't age or education discriminate! If you give me 50K I promise to study something!

 

[SassyIrishLass]

More like:

Were you responsible and paid off your student loan debt? You did?

YOU STUPID MOTHER FUCKER!!!! HAHAHA!!!

yes, thirty five years ago.

Good, what about the 20 and 30 somethings that just finished paying off their loans in December working two jobs, eating Raman noodles and tv dinners to get by so they can be responsible adults and pay back money they owe? What do you tell those people?

Demoquacks: "Too bad so sad, we need votes!"

 

[Desperado]

If banks and businesses didn't have to pay the money back, I don't see why all should not be held to the same standard.

he banks made bad loans they should be the only ones on the hook for the money

Banks have nothing to do with it. The loans are from the US government.

Stafford Loans are federal loans made by the government, meaning you're borrowing directly from the U.S. Department of Education. That's who you'll repay when it's time, too. Today, 92% of all student loans are made by the federal government.

www.salliemae.com

Then the loan qualifications need to be extremely upgraded.
The people are getting loans that are enough to buy a house with no collateral and no job? That is no way to run a business. They need to hold the loan officers responsible. Again more federal employees fucking up big time and not being held responsible for their actions

 

[boedicca]

Stealing from the poor to give the rich! That's the Dem way!

 

[Missourian]

If banks and businesses didn't have to pay the money back, I don't see why all should not be held to the same standard.

Cool.

Let's take it a step further and forgive everyone's tax debt.

 

[Rocko]

Yeah if he tries to do that with an executive order it will be struck down by the courts

 

[AZrailwhale]

dam.....i wonder if they will get to excusing 50,000 dollars of my mortgage?......

If your mortgage is over 50k you should be spanked er oh that's right, you live in California that rich man's paradise. But the colleges are free, no?

To have a sub-fifty grand mortgage, you have to live in the middle of nowhere. In Arizona, my house cost 260,000 three years ago. I'm sure there are places like Detroit or Baltimore where you can get cheap houses, but does anyone really want to live there? I seem to remember the city of Detroit being willing to sell houses for $1.00 and getting few or no takers.

 

[SassyIrishLass]

dam.....i wonder if they will get to excusing 50,000 dollars of my mortgage?......

If your mortgage is over 50k you should be spanked er oh that's right, you live in California that rich man's paradise. But the colleges are free, no?

To have a sub-fifty grand mortgage, you have to live in the middle of nowhere. In Arizona, my house cost 260,000 three years ago. I'm sure there are places like Detroit or Baltimore where you can get cheap houses, but does anyone really want to live there? I seem to remember the city of Detroit being willing to sell houses for $1.00 and getting few or no takers.

Dude must live in Shantytown

 

[Concerned American]

Democrats Plan $50,000 Of Student Loan Cancellation By Executive Order

Will your student loans get cancelled? It depends who you ask.

www.forbes.com

Congratulations US Taxpayer, looks like you will get to pick up the $50,000 tab of irresponsible college students and families who took on more debt than they could handle because they felt entitled to go to private elite colleges 3 time zones away and concentrate their studies in useless majors that have no demand in the job market. These students and families who feel entitled to this have the audacity to say they have been “enslaved” or victimized by student debt.

Moving forward, there needs to be more controls in place to qualify students and their families towards state and local institutions and concentrations of study that yield good paying jobs.

Check your race cards and class warfare bullshit at the door.

I think this is much ado about nothing. Contracts cannot be undone by EO. Courts can do it if the contract is shown to be invalid or illegal, but they are going to have to find another way. Lenders will not stand for it.

 

[Concerned American]

dam.....i wonder if they will get to excusing 50,000 dollars of my mortgage?......

If your mortgage is over 50k you should be spanked er oh that's right, you live in California that rich man's paradise. But the colleges are free, no?

To have a sub-fifty grand mortgage, you have to live in the middle of nowhere. In Arizona, my house cost 260,000 three years ago. I'm sure there are places like Detroit or Baltimore where you can get cheap houses, but does anyone really want to live there? I seem to remember the city of Detroit being willing to sell houses for $1.00 and getting few or no takers.

There are a few towns in Kansas that will GIVE you a house if settle there.

 

[Concerned American]

you could, theoretically, declare bankruptcy and have that mortgage be written off, yes?

No, you could file bankruptcy, true enough, but the lien holder of the property has the right to foreclose and take the property back to be sold to recoup their losses.

 

[DudleySmith]

dam.....i wonder if they will get to excusing 50,000 dollars of my mortgage?......

If your mortgage is over 50k you should be spanked er oh that's right, you live in California that rich man's paradise. But the colleges are free, no?

To have a sub-fifty grand mortgage, you have to live in the middle of nowhere. In Arizona, my house cost 260,000 three years ago. I'm sure there are places like Detroit or Baltimore where you can get cheap houses, but does anyone really want to live there? I seem to remember the city of Detroit being willing to sell houses for $1.00 and getting few or no takers.

It's $1 and you pay back taxes and required to do improvements to bring them back up to code, hardly a 'bargain', which is why Obama and other Democrats pack immigrants into the place, to keep it corrupt and voting Democrat, usually several times each. Many precincts there had over twice the number of votes as they had residents, which is why The Big Giant Recount in Michigan in 2016 suddenly disappeared when it got to Detroit.

 

[MisterBeale]

you could, theoretically, declare bankruptcy and have that mortgage be written off, yes?

No, you could file bankruptcy, true enough, but the lien holder of the property has the right to foreclose and take the property back to be sold to recoup their losses.

. . . well. . . O.K.

That takes care of the principle.

So what we are saying here, is that conservatives have no problem if Biden signed an EO, wiping out all interest, and making students liable for nothing but the principle on their debt?

 

[DudleySmith]

you could, theoretically, declare bankruptcy and have that mortgage be written off, yes?

No, you could file bankruptcy, true enough, but the lien holder of the property has the right to foreclose and take the property back to be sold to recoup their losses.

. . . well. . . O.K.

That takes care of the principle.

So what we are saying here, is that conservatives have no problem if Biden signed an EO, wiping out all interest, and making students liable for nothing but the principle on their debt?

Never met any conservative who turned down any govt. bailouts or refused to file bankruptcy and screw their debtors, or insisted in paying off what they borrowed to speculate in any of the bubbles that all crashed since the 1970's, so I don't give any credibility to their fake moral objections here. All they do is blame the Democrats as if they had guns held to their heads and were forced to leverage their imaginary equities 50 to 1. I bought three houses for pennies on the dollar from Republicans who lost their asses in the 1980's, and every one of them had weaseled out of paying them off and stampeded over widows and orphans and the elderly to get in front of the line for bankruptcy courts.

 

[Concerned American]

you could, theoretically, declare bankruptcy and have that mortgage be written off, yes?

No, you could file bankruptcy, true enough, but the lien holder of the property has the right to foreclose and take the property back to be sold to recoup their losses.

. . . well. . . O.K.

That takes care of the principle.

So what we are saying here, is that conservatives have no problem if Biden signed an EO, wiping out all interest, and making students liable for nothing but the principle on their debt?

Not at all. A mortgage is guaranteed by the real property that backs it. Student loans have nothing backing them. A student has borrowed to receive a service which he/she used. Now it is incumbent on that student to repay OR declare bankruptcy and bear all the negatives that come along with the bankruptcy. There is no free lunch.

 

[RoshawnMarkwees]

I want all of my kid’s student loan debt paid and I want everything we’ve already spent paid back.
Only democrats should have to pay the taxes that cover this money. Like Liberty Mutual and paying for what you need.

 

[justinacolmena]

private elite colleges 3 time zones away and concentrate their studies in useless majors that have no demand in the job market

And why do Establishment politicians continue to let the administrators and tenured faculty of these colleges off the hook?

These students and families who feel entitled to this have the audacity to say they have been “enslaved” or victimized by student debt

Pick up any job application at the unemployment office — you've still got to have that degree just to get your foot in the door — along with references, letters of recommendation, verifiable employment history, two weeks notice, "eligible for rehire," no criminal or mental health history.

Basically you need absolute proof that no one who has had an opportunity to stab you in the back has ever actually stabbed you in the back before or you're screwed when you go looking for work, because somebody has family and is out on a vendetta to ruin your life.