Interesting Tidbit On Student Loan Forgiveness

[Ray From Cleveland]

They can't afford to pay their loans because of the crushing debt those loans forced them under. You want a society that can't afford kids or marriage, keep their necks under the boot.

Simple problem simple solution: There is no law that you have to go to college right out of high school. In fact it's the worst idea in the wold given these young adults have no idea what career they wish to pursue.

Live at home with mom and dad for a few years. Get a full time job and save every dime you can. By the time you reach the age of 21 or 22 you have a much better idea which way in life you want to go. You may even say screw college and go to a trade school. In any case you will not find yourself in the same situation as those who took out these ridiculous loans at 18 and then cry they have no way to pay them back.

Problem solved.

 

[Thinker101]

You capitalist parasite, leeching off of the labor of others, to generate an income. Who do you think you are? Roll up your sleeves and get to work.

Don't you worry, AI and automation was created to deal with lazy-ass folks like you. Better save up for that tent, loser.

 

[Mac-7]

Federal student loan borrowers are already thinking about what they will do with the money they save should their debt be forgiven. According to the Federal Reserve survey, the majority of borrowers — 57% — say they will use the savings to pay off other debts. That percentage was fairly consistent regardless of age or race/ethnic group.

If Student Loans Are Forgiven, How Will You Spend the Money? Almost Everyone Says They’ll Do This First

Federal student loan borrowers who counted on the Biden administration's loan forgiveness plan to cancel up to $20,000 in debt per borrower will be disappointed if the Supreme Court strikes the plan...

www.yahoo.com

Wait a minute, I thought the whole student loan forgiveness thing was all about they couldn't afford to pay their loans due to the pandemic and inflation? Now they are saying that they could actually afford to pay their loans after all and expect a windfall if they don't have to pay them back anymore and can then use the "saved" money on something else.

The students are just freeloaders

 

[Mac-7]

Simple problem simple solution: There is no law that you have to go to college right out of high school. In fact it's the worst idea in the wold given these young adults have no idea what career they wish to pursue.

Live at home with mom and dad for a few years. Get a full time job and save every dime you can. By the time you reach the age of 21 or 22 you have a much better idea which way in life you want to go. You may even say screw college and go to a trade school. In any case you will not find yourself in the same situation as those who took out these ridiculous loans at 18 and then cry they have no way to pay them back.

Problem solved.

Spend 2 years in the military

 

[Red Front]

Don't you worry, AI and automation was created to deal with lazy-ass folks like you. Better save up for that tent, loser.

Keep dreaming punk, because those robots and AI are going to be in the hands of the people, not a few parasites like you. You're a delusional moron.

 

[Red Front]

The students are just freeloaders

You're a leech.

 

[fncceo]

They can't afford to pay their loans because of the crushing debt those loans forced them under.

Every single one of which was voluntarily accepted.

 

[Red Front]

Every single one of which was voluntarily accepted.

Without it, they couldn't go to school. Society should provide everyone with an education, from kindergarten to college. It's an investment in our future, as a nation, with a 1000-fold return. Without a well-educated and skilled populace, we can't "MAKE AMERICA GREAT AGAIN".

 

[fncceo]

Keep dreaming punk, because those robots and AI are going to be in the hands of the people

Actually, they'll be in their own hands ... they will use the blood of humans to grease their gears...

 

[Red Front]

Actually, they'll be in their own hands ... they will use the blood of humans to grease their gears...

View attachment 790653

The American people will own all of the autonomous machines and AI, collectively, together.

 

[fncceo]

The American people will own all of the autonomous machines and AI, collectively, together.

You really don't get how things work, do you?

The people who pay for the creation of such automation will own them.

If you're nice, and you pay, you might be able to use them too.

 

[Mac-7]

You're a leech.

Based on what?

Your deep hate for conservatives?

I have the evidence of little lib snowflakes shirking their debts to back me up

They borrowed the money and should pay it back

 

[Independentthinker]

They can't afford to pay their loans because of the crushing debt those loans forced them under. You want a society that can't afford kids or marriage, keep their necks under the boot.

You didn't read the article and my post, did you? It talks about how they are going to use the "saved" money from not having to pay back the student loans and redirect that money to something else instead. If they couldn't afford to pay the loans in the first place then there is no "saved" money to redirect. Please put on your thinking cap before posting next time.

 

[SeaMajor7]

They were tricked into 6 figure loans as children. I know conservatives celebrate that as powerful colleges that behave as corporations squeezing the life out of a bunch of suckers, but the rest of us prefer there to be less misery in the world.

Imagine that! Tricked into borrowing the money by the government, all to be indoctrinated and molded into a demented Marxist asshole to worship..........the government.
What a fucking JOKE!!!!!

 

[Independentthinker]

If you have a $500 a month student loan payment, then you will have had about $20K more since the pandemic pause to spend on something. When payments resume, you will have $6K a year less to spend on something. What that is will vary by person. That, however, isn't what the problem is. If you have $100K in student loan debt from say undergrad and grad school, $500 a month isn't going to cover your interest if you are just starting repayment when your rate is set (currently 6. 54%), after 25 years of paying $500 a month, you will have paid $150K in payments and still owe the government $134,000.00 which they will then discharge if you are on an IDR program which you then have to report on your taxes as income and will then have to pay the IRS 7% APR with daily compounding interest until you satisfy the tax liability so you are thrown from the frying pain into the fire if and when they start slapping liens and garnishments on your shit. To pay your $100K back in 25 years, your payments should have been $677.71 per month. Now if you were to get a one time $20K credit, your payment drops to $542.17 a month which gives you $135.54 more a month or $40,662.00 over the life of a 25 year loan to spend. Again, what people do with that will vary by person.


There are borrowers who have paid back more than they were ever supposed to which is one prong of what Biden is trying to fix because their payment histories kept getting lost every time their servicer changed so they may be 18 years into a loan that was supposed to be discharged after 10 (government workers mainly); when people on Income based payments had issues, rather than lower payments as was supposed to happen, their servicer stopped their payments and then capitalized all the unpaid interest so their principal loan amounts ballooned causing them to be even deeper in debt as they are then being charged interest on unpaid interest; and, unfortunately for too many borrowers, the payments were set so low they ran into the scenario I mentioned above where they paid back more than they ever borrowed and still end up owing the government more than even what they borrowed because they went back home to Frog Ass, Idaho with its lower wages to live instead of Chicago.

Now the TLDR take is this---the government should have never gotten into this gig. This inflated the cost of college. Colleges then started financial aid with "What is the most this person can borrow for the year" instead of "Let's make sure this person borrowers as little as possible". But hey, someone has to pay for the basketball coach's million dollar salary and the new aquatic center.

If the reason for forgiving student loan debt is because due to the pandemic and inflation you couldn't afford the payment, then there is no money saved from forgiveness because you couldn't afford the payment in the first place. All of this proves that they actually could afford the payment in the first place, therefore the idea that they couldn't afford the payments was a big fat lie because they could, otherwise they could not redirect the payments to something else if the debt was forgiven.

 

[Independentthinker]

Education should be tuition-free in public colleges anyways and it would be good for the economy if we canceled the debt of all of these young people. They've already been screwed by the older generation, gutting America of its manufacturing base, breaking up all of the labor unions, and creating the conditions for gross inequality, stagnant wages, and a high cost of living. America has already bailed out the wealthiest people in our society to the tune of trillions of dollars, so the least that we can do is forgive our children's student debts. It would indeed contribute positively to their standard of living, allowing them to save, build their credit and buy a home.

Now you're moving the goal posts. We were told student loan debt needed to be forgiven because due to the pandemic and inflation, students could not afford the payments. That was a lie because they could afford the payments if debt forgiveness allows them to redirect the "saved" money to something else. Please try to stay on topic.

 

[Lesh]

How were borrowers "forced"? They willingly borrowed the money and signed a contract. Why should I be forced to work overtime to pay off THEIR debts? I'm also not going to pay off my neighbors boat or 80" flatscreen.

Drama Queen.

You ain't forced to do anything of the kind..

Jesus what a liar

 

[Lesh]

If you have a $500 a month student loan payment, then you will have had about $20K more since the pandemic pause to spend on something. When payments resume, you will have $6K a year less to spend on something. What that is will vary by person. That, however, isn't what the problem is. If you have $100K in student loan debt from say undergrad and grad school, $500 a month isn't going to cover your interest if you are just starting repayment when your rate is set (currently 6. 54%), after 25 years of paying $500 a month, you will have paid $150K in payments and still owe the government $134,000.00 which they will then discharge if you are on an IDR program which you then have to report on your taxes as income and will then have to pay the IRS 7% APR with daily compounding interest until you satisfy the tax liability so you are thrown from the frying pain into the fire if and when they start slapping liens and garnishments on your shit. To pay your $100K back in 25 years, your payments should have been $677.71 per month. Now if you were to get a one time $20K credit, your payment drops to $542.17 a month which gives you $135.54 more a month or $40,662.00 over the life of a 25 year loan to spend. Again, what people do with that will vary by person.


There are borrowers who have paid back more than they were ever supposed to which is one prong of what Biden is trying to fix because their payment histories kept getting lost every time their servicer changed so they may be 18 years into a loan that was supposed to be discharged after 10 (government workers mainly); when people on Income based payments had issues, rather than lower payments as was supposed to happen, their servicer stopped their payments and then capitalized all the unpaid interest so their principal loan amounts ballooned causing them to be even deeper in debt as they are then being charged interest on unpaid interest; and, unfortunately for too many borrowers, the payments were set so low they ran into the scenario I mentioned above where they paid back more than they ever borrowed and still end up owing the government more than even what they borrowed because they went back home to Frog Ass, Idaho with its lower wages to live instead of Chicago.

Now the TLDR take is this---the government should have never gotten into this gig. This inflated the cost of college. Colleges then started financial aid with "What is the most this person can borrow for the year" instead of "Let's make sure this person borrowers as little as possible". But hey, someone has to pay for the basketball coach's million dollar salary and the new aquatic center.

Think about that for a minute

6.4% on a GUARANTEED loan.

Banks are making out like bandits

 

[Red Front]

Based on what?

Your deep hate for conservatives?

I have the evidence of little lib snowflakes shirking their debts to back me up

They borrowed the money and should pay it back

Our children borrowed the money because they didn't have a choice. It was either borrow the money or not go to college, you fucking Republican shithead. Whose going to administer medical care to your old crusty retired ass when you need it? The fucking tooth fairy? The ghost of Jackie Gleason from the Honey Mooners, is going to show up and care for you when you're sick in the hospital? Who the hell is going to make sure we live in a modern, high-tech society? Your swollen prostate? Who? What? Our children. Asshole!

You were raised in an America where you could go to college for peanuts. One breadwinner could support the family. 1/3rd of the American workforce was unionized. My grandfather, in 1965, bought a house with a huge backyard and fruit trees, cash, without a mortgage, working a blue-collar job, spraying fiberglass on boat molds for Bertram Yachts. That America is GONE, thanks to Republican assholes like you. So much for "family values"!

Now mom has to work too. Family values my ass! I was a lachkey kid. I raised myself, because when I would get home, the house was empty. It was me and my brothers and friends, up to no good. No guidance. MTV, video games, Mary and Juana, Dungeons and Dragons, no mom, even grandma, and grandpa had to work in the 1980s. "Thanks" Republicans, for your "Family Values". Jerks!

Education should be tuition-free or at least affordable. That's not what it is now, so our children had to get loans. They're burdened with huge student loans that they shouldn't have. They're our future. Heck, even their life expectancy is less than ours. The likelihood of them owning a home is much less than it was for even me, born in the early 70s. You old farts in your 70s and 80s, raised in the golden age of our economy, making it more difficult for our children to succeed in life and have their piece of the pie. Their American Dream. Maybe that's why our children are so screwed up and can't even define what a woman is? They're cutting off their dicks and testicles. We've screwed them up, because we're screwed up. Lift the burden.

Some of you are Christians. Actually, a lot of you are supposedly, disciples of Jesus Christ. The "Salt and Light Of The Earth", born again and spirit-filled. You haven't read your bible? The God of the bible forgives the debt of the nation every 70 years. He's a God that forgives debt. He even sent his son to forgive humanity's debt through a simple act of genuine, fruit-bearing faith. Salvation through God-given faith. Jesus taught that we should pray for those who persecute us and forgive them. He taught us to forgive those who owe us, or else God would not forgive our debt to him. The first Christians lived in a community where they held all things in common and no one lacked anything. Everyone had their needs met. You haven't read your bible?

An atheist-communist has to teach you your own bible? Where are the sons of God? I don't see Christ in you at all. You should be guiding the world by the power of the Holy Spirit, that indwells you. WHERE IS JESUS? WHERE ARE YOU JESUS? Where are you, Son of The Living God? Your disciples should be guiding a lost and broken world and governing it with love and genuine justice. They're mammon worshiping freaks, who are indifferent to the pain and suffering of a lost humanity. Where are they Jesus? We, communists, will take care of it. We accept your commission, good Lord, we will do it. With a rod of iron.

​

 

[Red Front]

Now you're moving the goal posts. We were told student loan debt needed to be forgiven because due to the pandemic and inflation, students could not afford the payments. That was a lie because they could afford the payments if debt forgiveness allows them to redirect the "saved" money to something else. Please try to stay on topic.

The repubs and dems can say whatever they want, but the reality is that we should forgive our children's student loan debts and allow them to build the country. Who the heck is going to "MAKE AMERICA GREAT AGAIN"? A bunch of old retired prune juice-drinking fogies?

Lift the burden of our children, let them work, produce, save, and have their American Dream as well. Education is an investment in the development of our country with a 1000-fold return. We need an educated and skilled workforce, especially now that we're competing with China. Do you want there to be an America? Because China is going to eat us alive if we don't have our own scientists, engineers, and specialists.

We need a well-educated and skilled AMERICAN labor force.