#46 President Joe Biden

1184185187189190228

Comments

  • Gern BlanstenGern Blansten Your Mom'sPosts: 15,237
    edited August 2022
    I have not been a fan and am not a fan of this loan forgiveness.  I think the part that makes the most sense to me is the doubling for Pell Grant recipients.  Seems to target those in need far more.  There are so many moving parts to this I get that it's a complex issue.  My concerns with this:

    1) It does nothing to effect the cost of college moving forward.  If that's the root cause, then that should be addressed. Work to make community college and trade schools free (or close to it).  Same for 4 year colleges for specific targeted degrees.
    2) I do have a hard time with people taking on debt and then not paying it back.  I heard one lady they were using as an example on MSNBC of why it was needed.  She was in her 40's and still paying off debt.  She went to school for 3 years, got pregnant and married then had a 2nd kid.  She said she needed "Relief" (which is just a handout) because she had meant to get a degree but "Life happened" to her.  It did not happen to her, she made choice after choice.  She ultimately decided she wanted to be a mom and stay home.  So - you certainly could look at other programs ---- what is in place to help college kids that have kids get back into the classroom (childcare, etc) quickly, etc.  But just forgiving loans isn't really the answer in my mind.  I think this sends a terrible message.

    I've wavered on this topic some over time, but keep ending back at the same place.  I wonder how the non-college educated blue collar mother or farther that worked hard, saved $ and helped pay for their kids to go to college and leave without debt feel about this?  Or those that skipped college due to the cost to go work for lower pay throughout their careers feel about this?

    So I am certainly not a fan.  


    I get that...but people make bad decisions. I'm always amazed at how some lower income people are very responsible with money and others aren't. 

    I remember one of my daughter's roommates at college was having an issue coming up with her part of their rent deposit because her student loan had not come through yet. I can't imagine advising my child that it would be a good idea to pull out $20-25K in loans each year in order to fund their college experience.

    The federal loans are limited to around $7K/year which makes sense to me. That basically covers most tuition at a state school. 

    Graduating with a $28K loan isn't bad.....$80-100K is awful.

    And my understanding is that this forgiveness is related to federal loans only....not private student loans.
    Post edited by Gern Blansten on
    Remember the Thomas Nine !! (10/02/2018)

    1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
    2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
    2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
    2016: Lexington, Wrigley #1; 2018: Wrigley #1, Wrigley #2, Boston #1, Boston #2
    2020: Oakland1, Oakland2:  2021: EV Ohana, Ohana, Ohana, Ohana
    2022: Oakland1, Oakland2, Nashville, Louisville 
  • bootlegger10bootlegger10 Posts: 14,858
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
  • dankinddankind I am not your foot. Posts: 20,826
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
    Cool. Now explain this to an 18-year-old who didn't have great examples of fiscal responsibility during their upbringing. 
    I SAW PEARL JAM
  • The JugglerThe Juggler Behind that bush over there.Posts: 44,091
    dankind said:
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
    Cool. Now explain this to an 18-year-old who didn't have great examples of fiscal responsibility during their upbringing. 
    I know right? Easy for someone with more than twice the amount of lived experience to say too....
    chinese-happy.jpg
  • OnWis97OnWis97 St. Paul, MNPosts: 4,475
    edited August 2022
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
    That certainly matches my philosophy. That said, I bristle a little at telling people "do this" in no small part because I'd love to have a nickel for every time I see "go to community college for the first two years." Uh, that's not what I wanted to do and I would not have thrived under that model. It's a good option for some but ultimately, people need to do what's right for them. 

    That said, if someone was asking me for advice I might challenge them on what the costlier private (or out-of-state) option is going to do for them in and balance that against the higher number of loans. Similar balance for the community college option...for me the extra was worth it, but for some maybe not.

    What I really think is that kids need to understand their options; college, community college, tech/trade school, military, etc. When I was in high school, the assumption was "college" (at least in my school/family). Other options were kind of stigmatized. I don't think I understood the other options (thankfully, college was the right path for me but I definitely saw people figure out a year or two in that it wasn't the right path for them and wondered whether they kinda had the four-year degree over-emphasized at the expense of other options.
    1995 Milwaukee
    1998 Alpine, Alpine
    2003 Albany, Boston, Boston, Boston
    2004 Boston, Boston
    2006 Hartford, St. Paul (Petty), St. Paul (Petty)
    2011 Alpine, Alpine
    2013 Wrigley
    2014 St. Paul
    2016 Fenway, Fenway, Wrigley, Wrigley
    2018 Missoula, Wrigley, Wrigley
    2021 Asbury Park
  • Gern BlanstenGern Blansten Your Mom'sPosts: 15,237
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
    agreed...so stupid




    Remember the Thomas Nine !! (10/02/2018)

    1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
    2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
    2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
    2016: Lexington, Wrigley #1; 2018: Wrigley #1, Wrigley #2, Boston #1, Boston #2
    2020: Oakland1, Oakland2:  2021: EV Ohana, Ohana, Ohana, Ohana
    2022: Oakland1, Oakland2, Nashville, Louisville 
  • Lerxst1992Lerxst1992 Posts: 5,272
    One angle I haven’t seen is that this is Biden unilaterally doing an end run around congress, which perfectly feeds into the socialism narrative in a huge way.

    The politically savvy thing would have been to simply cap repayments at 5% of income and perhaps $20k of relief for ONLY Pell recipients. And defer interest again. Would have accomplished nearly the same objective without the toxic political fallout.

    That extra ten k of debt relief for all students may cost Dems congress this year and bring back trump in two. This will not play well in swing states/districts. Dumb politics yet again from Team D
  • Merkin BallerMerkin Baller Posts: 7,786
    edited August 2022

    I've lost count of how many times Biden has handed 2024 to trump.
  • Ledbetterman10Ledbetterman10 Posts: 16,214
    One angle I haven’t seen is that this is Biden unilaterally doing an end run around congress, which perfectly feeds into the socialism narrative in a huge way.
    That angle's being used. This clip of Pelosi noting that Biden doesn't have the power to forgive debt has resurfaced since he announced it. She said it has to be an act of congress...


    2000: Camden 1, 2003: Philly, State College, Camden 1, MSG 2, Hershey, 2004: Reading, 2005: Philly, 2006: Camden 1, 2, East Rutherford 1, 2007: Lollapalooza, 2008: Camden 1, Washington D.C., MSG 1, 2, 2009: Philly 1, 2, 3, 4, 2010: Bristol, MSG 2, 2011: PJ20 1, 2, 2012: Made In America, 2013: Brooklyn 2, Philly 2, 2014: Denver, 2015: Global Citizen Festival, 2016: Philly 2, Fenway 1, 2018: Fenway 1, 2, 2021: Sea. Hear. Now. 2022: Camden

    Pearl Jam bootlegs:
    http://wegotshit.blogspot.com
  • cincybearcatcincybearcat Posts: 15,676
    dankind said:
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
    Cool. Now explain this to an 18-year-old who didn't have great examples of fiscal responsibility during their upbringing. 
    I know right? Easy for someone with more than twice the amount of lived experience to say too....
    I think you are selling kids way short.  I know plenty of 18 year old that are just starting college this year...each took $ into consideration.
    hippiemom = goodness
  • The JugglerThe Juggler Behind that bush over there.Posts: 44,091
    edited August 2022
    dankind said:
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
    Cool. Now explain this to an 18-year-old who didn't have great examples of fiscal responsibility during their upbringing. 
    I know right? Easy for someone with more than twice the amount of lived experience to say too....
    I think you are selling kids way short.  I know plenty of 18 year old that are just starting college this year...each took $ into consideration.
    I am sure there are plenty who took it into consideration. I am also sure there are plenty who did not. As dankind mentioned, it's a product of upbringing. My parents really didn't tell me anything about that stuff. I ended up with a lot of debt but, luckily, paid it all off. The debt I had was a fraction of what it would be in today's world though. 

    Also, it really should be mandatory to have some kind of financial training in high school. 
    Post edited by The Juggler on
    chinese-happy.jpg
  • bootlegger10bootlegger10 Posts: 14,858
    dankind said:
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
    Cool. Now explain this to an 18-year-old who didn't have great examples of fiscal responsibility during their upbringing. 
    I heard my cousin tell me something similar.  Kept reminding her kid that if she stays on campus instead of at home (20 minutes away) it is going to cost X more dollars.  After realizing a few years later that X dollars was a lot of money, the kid asked her mom why she didn't warn her.   

    Sorry if my post came off as an attack or demeaning. Wasn't the intention.  Plenty of reasons why you can be enticed by smaller schools and why someone would want to pay more to go there. 
  • cincybearcatcincybearcat Posts: 15,676
    edited August 2022
    dankind said:
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
    Cool. Now explain this to an 18-year-old who didn't have great examples of fiscal responsibility during their upbringing. 
    I know right? Easy for someone with more than twice the amount of lived experience to say too....
    I think you are selling kids way short.  I know plenty of 18 year old that are just starting college this year...each took $ into consideration.
    I am sure there are plenty who took it into consideration. I am also sure there are plenty who did not. As dankind mentioned, it's a product of upbringing. My parents really didn't tell me anything about that stuff. I ended up with a lot of debt but, luckily, paid it all off. The debt I had was a fraction of what it would be in today's world though. 

    Also, it really should be mandatory to have some kind of financial training in high school. 
    Agree with that.  My daughter is a Soph in high school and taking a financial literacy course this semester. 
    hippiemom = goodness
  • dankinddankind I am not your foot. Posts: 20,826
    edited August 2022
    dankind said:
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
    Cool. Now explain this to an 18-year-old who didn't have great examples of fiscal responsibility during their upbringing. 
    I know right? Easy for someone with more than twice the amount of lived experience to say too....
    I think you are selling kids way short.  I know plenty of 18 year old that are just starting college this year...each took $ into consideration.
    I am sure there are plenty who took it into consideration. I am also sure there are plenty who did not. As dankind mentioned, it's a product of upbringing. 

    Also, it really should be mandatory to have some kind of financial training in high school. 
    Yeah. I haven’t seen the stats, but feeling somewhat exemplary today, I would guess that the bulk of the nation’s greater college debt burdens are likely held by first-generation college graduates. And if you look deeper at most of us and our undereducated families, I think you’ll find that fiscal responsibility took a backseat to basic survival during our upbringing. 

    Except for my student loan—actually, probably BECAUSE OF my student loan debt and the crushing and persistent depression it wrought (honestly, I’m getting PTSD just writing about it today)—I’ve been meticulously responsible about all my other personal finances. 

    To a fault. I eschewed marriage and family until I felt fiscally “worthy.” And I’m too old for this shit. :lol:
    Post edited by dankind on
    I SAW PEARL JAM
  • bootlegger10bootlegger10 Posts: 14,858
    Financial literacy should be something that is required teaching in high schools.  Odd that it isn’t (or wasn’t in my time).  Much more value from that subject than a lot of other classes we were forced to take.  
  • Gern BlanstenGern Blansten Your Mom'sPosts: 15,237
    Financial literacy should be something that is required teaching in high schools.  Odd that it isn’t (or wasn’t in my time).  Much more value from that subject than a lot of other classes we were forced to take.  
    agreed...including basic income tax
    Remember the Thomas Nine !! (10/02/2018)

    1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
    2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
    2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
    2016: Lexington, Wrigley #1; 2018: Wrigley #1, Wrigley #2, Boston #1, Boston #2
    2020: Oakland1, Oakland2:  2021: EV Ohana, Ohana, Ohana, Ohana
    2022: Oakland1, Oakland2, Nashville, Louisville 
  • DewieCoxDewieCox Posts: 11,356
    Everyone I’ve personally heard bitch about it, whined for the entirety of their young adulthood, never finished their degree and/or negotiated their loan down to a fraction of what they owed.
  • mrussel1mrussel1 Posts: 26,533
    dankind said:
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
    Cool. Now explain this to an 18-year-old who didn't have great examples of fiscal responsibility during their upbringing. 
    I'm not sure this matters.  I'm in the thick of college age kids,  and I see upper middle class families, who should know better,  sending their kids to either private or out of state public schools.  It's bewildering.  Here in Virginia,  we have fantastic public universities and I see kids I know going to friggin Georgia,  NC state,  etc.  Makes no sense.  
  • HughFreakingDillonHughFreakingDillon WinnipegPosts: 33,509
    Isn't "sending your kid to college" almost like a cultural thing in the US? It would seem to me that a lot of people feel social pressure to pay for their kids to go to college out of state (or for kids to get loans to do so). 

    yes, that's irresponsible, but doesn't that exist?
    I'm through with screaming...

    Darwinspeed, folks...I'm out


  • Gern BlanstenGern Blansten Your Mom'sPosts: 15,237
    mrussel1 said:
    dankind said:
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
    Cool. Now explain this to an 18-year-old who didn't have great examples of fiscal responsibility during their upbringing. 
    I'm not sure this matters.  I'm in the thick of college age kids,  and I see upper middle class families, who should know better,  sending their kids to either private or out of state public schools.  It's bewildering.  Here in Virginia,  we have fantastic public universities and I see kids I know going to friggin Georgia,  NC state,  etc.  Makes no sense.  
    Same here in Central IN. We've got IU, Purdue, Ball State, IUPUI, Indiana State....insane to go out of state and pay twice as much in tuition.

    It's like the middle income people blowing $30K on a wedding
    Remember the Thomas Nine !! (10/02/2018)

    1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
    2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
    2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
    2016: Lexington, Wrigley #1; 2018: Wrigley #1, Wrigley #2, Boston #1, Boston #2
    2020: Oakland1, Oakland2:  2021: EV Ohana, Ohana, Ohana, Ohana
    2022: Oakland1, Oakland2, Nashville, Louisville 
  • mrussel1mrussel1 Posts: 26,533
    Isn't "sending your kid to college" almost like a cultural thing in the US? It would seem to me that a lot of people feel social pressure to pay for their kids to go to college out of state (or for kids to get loans to do so). 

    yes, that's irresponsible, but doesn't that exist?
    I'm not sure sending you kids to college to out of state or private is cultural.   It's just bad decision making.  

    Now if your kid gets into Cal, UVA, Michigan, Stanford or Ivy, then I can see paying a premium because if you get a wise degree,  it will pay off.  But paying out of state for Tennessee is silly.
  • dankinddankind I am not your foot. Posts: 20,826
    And the Ivies and other pedigree schools are starting to matter less when it comes to corporate HR departments. Again, score another point for corporations on this one.
    I SAW PEARL JAM
  • mrussel1mrussel1 Posts: 26,533
    dankind said:
    And the Ivies and other pedigree schools are starting to matter less when it comes to corporate HR departments. Again, score another point for corporations on this one.
    Yeah that could be true. Although the companies I am connected with value UVA and William and Mary very highly.  I think it's as much a network thing as anything else.  You have a Virginia degree in Virginia,  and you have a good job. 
  • cincybearcatcincybearcat Posts: 15,676
    mrussel1 said:
    dankind said:
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
    Cool. Now explain this to an 18-year-old who didn't have great examples of fiscal responsibility during their upbringing. 
    I'm not sure this matters.  I'm in the thick of college age kids,  and I see upper middle class families, who should know better,  sending their kids to either private or out of state public schools.  It's bewildering.  Here in Virginia,  we have fantastic public universities and I see kids I know going to friggin Georgia,  NC state,  etc.  Makes no sense.  
    If it's an out of state, state school the difference is certainly significant but not nearly as crazy as a private school.  The out of state school was $115k estimated for 4 years of school and living.  The in-state was $60k.  Definitely a big chunk of money. 

    The private school was almost $270k.  That is an entirely different level.  I could wrap my head around an out of state, state school if the specific program was offered or somehow significantly better (ie target companies higher from that school, etc).  But 4-5X for private? No freakin way....without scholarships ;)
    hippiemom = goodness
  • nicknyr15nicknyr15 Posts: 6,559
    dankind said:
    I just don’t think anyone should take out loans to go to a private school. Makes no sense to me.  Go to a state school. 
    Cool. Now explain this to an 18-year-old who didn't have great examples of fiscal responsibility during their upbringing. 
    I know right? Easy for someone with more than twice the amount of lived experience to say too....
    I think you are selling kids way short.  I know plenty of 18 year old that are just starting college this year...each took $ into consideration.
    I am sure there are plenty who took it into consideration. I am also sure there are plenty who did not. As dankind mentioned, it's a product of upbringing. My parents really didn't tell me anything about that stuff. I ended up with a lot of debt but, luckily, paid it all off. The debt I had was a fraction of what it would be in today's world though. 

    Also, it really should be mandatory to have some kind of financial training in high school. 
    I’m pretty sure I read at some point that Desantis signed something that made it mandatory to pass a financial course to graduate high school. I always thought it was ridiculous that there was zero finance training in school. It’s crucial in life. 
  • dankinddankind I am not your foot. Posts: 20,826
    edited August 2022
    mrussel1 said:
    dankind said:
    And the Ivies and other pedigree schools are starting to matter less when it comes to corporate HR departments. Again, score another point for corporations on this one.
    Yeah that could be true. Although the companies I am connected with value UVA and William and Mary very highly.  I think it's as much a network thing as anything else.  You have a Virginia degree in Virginia,  and you have a good job. 
    A few years ago, a brilliant friend of mine was looking for work, and he would've been a perfect fit for more than one lucrative position here.

    But he got his degree from Mizzou.

    I didn't even bother mentioning any openings here to him or recommend him to our HR department because it would've been wasted effort.

    We would hire that ill-educated fuck in a heartbeat now! :rofl:

    I'm lower level, so it doesn't matter where I went to school -- plus, as you mentioned, networking: three of my former colleagues from two different former workplaces worked here (two still do) when I applied. 
    Post edited by dankind on
    I SAW PEARL JAM
  • Gern BlanstenGern Blansten Your Mom'sPosts: 15,237
    I just did a tax return for a 25 year old kid that lost $17K gambling through Barstool and another sports app.

    Winnings were around $60K...losses $77K

    I mean holy shit....horrible idea
    Remember the Thomas Nine !! (10/02/2018)

    1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
    2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
    2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
    2016: Lexington, Wrigley #1; 2018: Wrigley #1, Wrigley #2, Boston #1, Boston #2
    2020: Oakland1, Oakland2:  2021: EV Ohana, Ohana, Ohana, Ohana
    2022: Oakland1, Oakland2, Nashville, Louisville 
  • dankinddankind I am not your foot. Posts: 20,826
    I just did a tax return for a 25 year old kid that lost $17K gambling through Barstool and another sports app.

    Winnings were around $60K...losses $77K

    I mean holy shit....horrible idea
    It's like taking out student loans for a degree in social work.
    I SAW PEARL JAM
  • nicknyr15nicknyr15 Posts: 6,559
    I really don’t know enough or can relate to this. I’ve never had student loan debt. At first , it sounded good. But the more I read into it, the more it sounds like a whole lot of nothing. I don’t think this will really do much going forward. I read an article and this paragraph stuck out the most to me :

    Any serious discussion surrounding student debt would ask the fundamental question of how best to reduce tuition price tags, as ours dwarf those of peer nations. But this isn’t a serious discussion. It is a bribe to Biden’s base in anticipation of the midterm elections, and the US taxpayers are the ones footing the bill.

    the first sentence is the obvious problem. The second is more of an attack on Biden , but how true is that about taxpayers footing the bill? Will this really cost us 300 billion? 
  • CO278952CO278952 Posts: 912
    shit show

    4/17/94 Paramount Theatre, NY — 9/28/96 Randall's Island, NY — 8/25/00 Jones Beach, NY
    4/28/03 Philadelphia, PA — 7/5/03 Camden, NJ — 7/6/03 Camden, NJ — 07/08/03 MSG — 07/09/03 MSG
    7/12/03 Hershey, PA — 7/14/03 Holmdel, NJ — 6/12/08 Tampa, FL — 11/28/12 EV Orlando, FL
    10/19/13 Brooklyn, NY — 4/11/16 Tampa, FL — 5/1/16 MSG — 5/2/16 MSG — 8/7/16 Boston, MA
    9/2/18 Boston, MA — 9/4/18 Boston, MA
    9/11/22 MSG, 9/16/22 Nashville
Sign In or Register to comment.