Student Debt Cancellation

Came across a post on Reddit about someone who at 18 signed for a student loan with 16 percent interest.

For contrast, the dealership I worked for was able to get 12.5 percent for a guy with a fairly recent bankruptcy that would normally kill any chance of a bank financing them for jack shit.

I've never had a credit card with that kind of interest.

WTF.

Same. All of my credit card offers *start* at 24%.

16%?!?! I never saw more than 8% on any of my loans.
That said, how did you get a credit card with an interest rate that low? I have excellent credit and can’t get less than 23%.

Yeah I'm really confused by those interest rates too. Was it a private student loan, @Shirogayne?

If you live in Indiana, you’re going to have to pay taxes on the amount forgiven. https://www.wthr.com/article/news/e...ates/531-7533db3c-f43d-459a-b639-6f5779eb25b7

They have to recoup the cost of that postage somehow.

:haha:

Libertarians for taxation!

Those states love taxing more than California.

Yep. the state can't pay their bills, so instead of taxing the wealthy, they double down on the poor. It's an old and well used tactic.

Every "free college" proposal includes technical and trade schools as well as community college. It may well be true that too many are pressured into going to college, but with any of these proposals it won't be money applying that pressure.

"If you live in Indiana, you’re going to have to pay taxes on the amount forgiven"

also Mississippi.

https://twitter.com/KevinMKruse/status/1638687743936180224?s=20

En Vogue wrote a song about Biden's debt forgiveness. Wanna hear it? here it goes



This what you bastards get for cheating on Bernie.

Looks like the student loan pause mostly helped the wealthy.

Another example of unintended consequences of the "I'm from the government and I'm here to help" crowd.
https://reason.com/2023/04/21/biden...overwhelmingly-benefited-wealthier-americans/

Okay, Trust Fund Baby, what was your student loan debt? I came from a solidly middle-class family, went to a low-price state university, and still spent decades struggling to pay off my less than $30K in student loan debt. What was your experience like?

Other points to consider: The majority of people who start college do not finish it in four years. In fact, a considerable number of people who start college never finish, so not only do they have student-loan debt to worry about, they don't have the opportunity to make as much money as they might have, had they finished their degree. How are they harmed by pauses in paying for their debt or having their debt forgiven?

For me, personally, the times when I could get a pause on my student loan payments (when I went back to school and learned a trade) were a huge fucking help to me, as it was one less thing I had to worry about while I was flailing around trying to earn a living and going to school (again).

The problem with the dumbass boy is that he thinks republicans and libertarians are a solution to the problem, and he supports them as an alternative for the dems. Of course Biden did this on purpose because Biden likes the back end classism, elitism, and racism of the moderate left and old school republicans. He never gave a fuck that any of this helped the poor. It is a perfe4ct ruse in that it looked like he was helping the poor while really it helped the rich a lot more and it left the poor on the hook. It really screwed over families without built up wealth to help their children, which overly strains black families he has helped to destroy the families of.

So your Biden Bros ass can go sit over in the corner with the boy because your guy is no better. You are both enabling putting the shackles of debt onto everyone but the rich and creating a capitalist slave class by supporting corporatist politicians. This is why you support the money in politics. You like this system, and hope one day they will let you piss on the poor. There is no difference between Biden Bros, libertarians, and republicans when it comes to economic factors that effect the middle and poor classes.

The Right has IN MY ENTIRE LIFETIME complained that aiding the poor will benefit the wealthy. And punishing the wealthy will punish the poor.

Fuck off with this bullshit. Go read a fucking book

And...?
So what?

Sure, the wealthy didn't need the help, but there are bigger shits to worry about.

What proportion of paused student loan holders are wealthy? Because if it’s not over 50% the article is far off base. (Hint: over 40 million borrowers have been paused.).

https://www.politico.com/news/2023/06/01/senate-repeals-bidens-student-debt-relief-00099682

Bill to cancel Biden's debt cancellation clears the house and senate. He's gonna veto it, but it's still a huge slap in the face.


How come it's so easy to cut taxes on big corporations or wealthy people, but this piddling amount of debt relief for former students makes so many people shit blood? If someone earned income knowing the current and future expected tax rates, didn't they implicitly accept paying that bill too? Why's it okay to help those people weasel out of their obligations, but not others?

Yeah, about that, biden handed the republicans the ball on that one in the debt ceiling deal because he agreed to paygo on executive actions which will put an end to student loan forgiveness. This is why he recently tried to do more because he knew he was going to sacrifice it to pay the bills.

Dick Brandon strikes again.

So he gave up nothing on student loans. The repayments were due to start in August. We've known that for six months now. It was never getting extended so this idea he gave the R's a win on this is fake.

Because the US congress no longer works for the people.

Do you think that they did in the past?

I may be ... naive or ... brainwashed from my earliest years, but yes, I do believe the founding fathers and original congress really did want to do what was best for the people of the united states.

Shush. This was a huge loss. The Rs totally owned Biden/the Libs and by voting to pass this they will throw Progressives in the worst briar patch ever.

For certain definitions of the word "people," perhaps.

This is true. Again, in my youth and naïveté, I did think they had our best interests in mind.

You are not addressing the reality. Because of the paygo provision he handed to the right for executive orders he now has to find someplace to cut spending if he is going to decrease revenue through forgiving student loans through executive order. This effectively eliminates his ability to forgive student loans.

I do not know what you are talking about with repayment as that delay is entirely different from executive order student loan forgiveness. However, thanks for lying and trying to cover up the truth and pretend Biden did not give the reps something huge. Let me just say this does not just apply to student loan forgiveness. This applies to all executive actions that have a cost. so if Biden wants to spend more on the border crisis to increase our ability to house and process immigrants he has to cut something else to offset it.

Please stick to your humorous comments as your tactics suck.