#46 President Joe Biden

Gern Blansten

Yeah the right wingers are complaining that these are hand outs...but they didn't complain about that when the PPP funds came out

static111

Gern Blansten said:

Yeah the right wingers are complaining that these are hand outs...but they didn't complain about that when the PPP funds came out

A lot of right wingers and their kids aren't going to turn down the relief that this will bring.  If anything I see some R's with student loans and kids with student loans moving slightly to the left as they see what party is at least attempting to help them.

HughFreakingDillon

I think most people are willing to take help from the "other team" but still vote "their team" when it comes down to it. 

Gern Blansten

static111 said:

Gern Blansten said:

Yeah the right wingers are complaining that these are hand outs...but they didn't complain about that when the PPP funds came out

A lot of right wingers and their kids aren't going to turn down the relief that this will bring.  If anything I see some R's with student loans and kids with student loans moving slightly to the left as they see what party is at least attempting to help them.

common sense would say you are correct....but these people won't budge

OnWis97

Gern Blansten said:

Biden to announce $10K student loan debt forgiveness and an additional $10K for students that received Pell grants to further assist low income backgrounds.

Only available to those making $125K/year or less

He may as well have just eliminated all debt...the reaction is going to be "sky is falling" either way.

I'm not a fan of this. And I feel almost guilty about that because as an only child in an upper-middle-class family, I actually had the college fund and left school with no loans so who am I to suggest people not so fortunate don't get some help?  But I do feel that it's really difficult to say "you overpaid for a degree that didn't really prepare you so we're going to let you partially off the hook."

Between my parents working to pay for mine and my wife's being finished doff a few years ago with a $30,000 check, we have both of those "what about us" arguments covered. And you know what, I just don't care. I'm not going to lose sleep and I'm not going to feel like a victim (nor are my parents). I don't really agree with it but it's not even close to the most egregious thing I don't like that the government has done with public money.

HughFreakingDillon

Gern Blansten said:

static111 said:

Gern Blansten said:

Yeah the right wingers are complaining that these are hand outs...but they didn't complain about that when the PPP funds came out

A lot of right wingers and their kids aren't going to turn down the relief that this will bring.  If anything I see some R's with student loans and kids with student loans moving slightly to the left as they see what party is at least attempting to help them.

common sense would say you are correct....but these people won't budge

most voters don't budge though. even if Trump did something this big to help families, most democrats wouldn't change their vote the next election. both sides have their heels dug in. we just happen to think we have a sane reason and they don't. 

Gern Blansten

OnWis97 said:

Gern Blansten said:

Biden to announce $10K student loan debt forgiveness and an additional $10K for students that received Pell grants to further assist low income backgrounds.

Only available to those making $125K/year or less

He may as well have just eliminated all debt...the reaction is going to be "sky is falling" either way.

I'm not a fan of this. And I feel almost guilty about that because as an only child in an upper-middle-class family, I actually had the college fund and left school with no loans so who am I to suggest people not so fortunate don't get some help?  But I do feel that it's really difficult to say "you overpaid for a degree that didn't really prepare you so we're going to let you partially off the hook."

Between my parents working to pay for mine and my wife's being finished doff a few years ago with a $30,000 check, we have both of those "what about us" arguments covered. And you know what, I just don't care. I'm not going to lose sleep and I'm not going to feel like a victim (nor are my parents). I don't really agree with it but it's not even close to the most egregious thing I don't like that the government has done with public money.

It will definitely create some odd situations with people that decided to pay off their balances these last few years.

I had my kids take the federal loans just because the interest was cheap. Now I pay $250/month and have them pay $50/month toward the balance. My younger daughter only has $5,500 in federal loan because I fucked up and didn't file FAFSA so I cost myself $4,500 there. The federal loans over a four year degree amount to around $28K or something which isn't horrible. I feel sorry for the kids that borrow the entire amount including room and board. They end up owing closer to $80-$90K when they are done. 

But yeah that $10K x 2 + $5,500 means $25,500 to me. (Technically them since the loans are under their names but I still planned on paying for most of it).....FJB!!

mickeyrat

OnWis97 said:

Gern Blansten said:

Biden to announce $10K student loan debt forgiveness and an additional $10K for students that received Pell grants to further assist low income backgrounds.

Only available to those making $125K/year or less

He may as well have just eliminated all debt...the reaction is going to be "sky is falling" either way.

I'm not a fan of this. And I feel almost guilty about that because as an only child in an upper-middle-class family, I actually had the college fund and left school with no loans so who am I to suggest people not so fortunate don't get some help?  But I do feel that it's really difficult to say "you overpaid for a degree that didn't really prepare you so we're going to let you partially off the hook."

Between my parents working to pay for mine and my wife's being finished doff a few years ago with a $30,000 check, we have both of those "what about us" arguments covered. And you know what, I just don't care. I'm not going to lose sleep and I'm not going to feel like a victim (nor are my parents). I don't really agree with it but it's not even close to the most egregious thing I don't like that the government has done with public money.

how much of a typical loan is going toward loan service fees etc, do you think? seems the student loan system as currently designed and implemented is geared to benefit the servicer. perhaps one way to look at this, at least partially, is to level the playing field some in that way.

josevolution

HughFreakingDillon said:

Gern Blansten said:

static111 said:

Gern Blansten said:

Yeah the right wingers are complaining that these are hand outs...but they didn't complain about that when the PPP funds came out

A lot of right wingers and their kids aren't going to turn down the relief that this will bring.  If anything I see some R's with student loans and kids with student loans moving slightly to the left as they see what party is at least attempting to help them.

common sense would say you are correct....but these people won't budge

most voters don't budge though. even if Trump did something this big to help families, most democrats wouldn't change their vote the next election. both sides have their heels dug in. we just happen to think we have a sane reason and they don't. 

I wouldn’t change my because I don’t want a total corrupt human as my president! Fuck him he had his chance at being a decent human being guess what he failed! 

static111

anecdotal student loan evidence.  I took out a small sum for 2 years of trade school. $14,000.  I have paid off $16,000 of said $14,000 and as of yesterday still owed about $10,000 which with accruing interest would have probably ballooned again after the interest freeze expired and likely taken several more years to pay off.  My wife is in a similar situation but I won't go into detail because that isn't my business to share.I will say that when I took my student loans out the rate was just above 6% and when she took hers out the rate was just above 3% so hers didn't become as inflated as mine.  Being that student loans are our only debt this is huge.  Once all is said and done this clears my debt and comes near halving my wife's debt.  Our plan is to then get a low interest rate loan from a local credit union and push to pay off the rest of her balance in 12 months.  Which will lead us to finally being free of debt. positioning these millennials to finally begin dreaming beyond our avocado toast and perhaps buy some property.  I think this is great.  

The system as it is sucks. I think a lot of things led to this situation getting out of control, among them schools charging more because they knew they would get paid, as well as charging interest on the loans in a similar fashion to credit cards.  I would like to see tuition costs brought under control for future generations and for any loans going forward to have a nominal debt servicing fee and not to be used as a way to generate income for loan providers through accruing interest rates.  If I dream real big I'd like to see higher education at community colleges and state schools be free.

If they forgive even more once we get my wife's debt paid off I'm ok with that, the more people that get out from under the higher education debt trap the better!

Lerxst1992

HughFreakingDillon said:

I think most people are willing to take help from the "other team" but still vote "their team" when it comes down to it. 

Yes….and then yell at me and blame me at lunch as if this assistance, or handout, in their speak, is all my fault. Although I’m in NY, the suburb here can swing dramatically in both directions.

Its good to help people out, but a lot of America seems to have a distinct hatred for it, I will be getting scolded at chick fil a Tuesday. Can’t wait.

And we certainly don’t sing “tonight we radiate” to each other

Lerxst1992

Gern Blansten said:

86 rules

LGM.

The Juggler

Still extremely low but Brandon's approval is up 4% in the last 4 weeks. That's a significant shift. Makes sense when you're seeing these generic congressional polls now showing Dems pulling ahead and Dems doing much better in these special elections and stuff....

cblock4life

Navigating student loans was worse than buying a house IMO.  Student aid….they said here’s $100.  That was a joke and not worth the time it took me to apply!  Kids did loans for the least they could borrow and we paid the rest while they were in school as long as they maintained their grades.  Both came out with less than $10,000 owed.  After graduating we paid those monthly payments until they got jobs and then they got their loan payments back because their starting pay was more than mine at the time.  

I’m going to agree with Biden’s answer when someone said it isn’t fair and he asked if it was fair that the most wealthy receive the biggest tax breaks. 

I spoke to my sons about their feelings and they were both fine with this, just felt fortunate that we and they could pay when required. 

I guess I did something right! 

Merkin Baller

I paid off my loans, and the student loan relief doesn't bother me one bit.

I would also like to see something done about the cost of higher education too, because i want to live in a more educated society. 

Halifax2TheMax

Merkin Baller said:

I paid off my loans, and the student loan relief doesn't bother me one bit.

I would also like to see something done about the cost of higher education too, because i want to live in a more educated society. 

What are you? Woke?

Merkin Baller

Halifax2TheMax said:

Merkin Baller said:

I paid off my loans, and the student loan relief doesn't bother me one bit.

I would also like to see something done about the cost of higher education too, because i want to live in a more educated society. 

What are you? Woke?

I'm also anti fascism. 

Weird, I know. 

cincybearcat

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.  

bootlegger10

Let's work on reducing the skyrocketing cost of education.  If people can learn to work on their kitchen table during the pandemic then college students don't need a $50M business school building to go to twice a week for 8 hours of class.  

All the schools have to keep up with their competition and it is like the defense spending during the Cold War. 

dankind

For me, I have an insurmountable amount of student debt that I'll never pay back in full unless I win a lottery or sweepstakes or something.

And I'm finally completely OK with that. I wouldn't be taking out more loans to go back to school if that weren't the case.

I wasn't always this sanguine, though. In darker times, I had even considered taking my own life because of my enormous debt as a result of attaching it's negative value to my value as a person, feeling worse than worthless. The bullies who harassed me all the time with phone calls didn't help much.

I think what changed it was the process of buying a home (now three times). I think the big secret* that nobody wants anybody to know is that student debt doesn't really matter as much as far as our credit scores, etc., go as we might think it does. My credit score is better than my wife's, who has no student debt whatsoever and makes three times what I make. The lenders and agents, many now, since we've bought and sold one home in one of the most expensive neighborhoods in Brooklyn, our first home in a fairly affluent Massachusetts town (I even owned this mortgage alone because my wife was unemployed at the time of our move), and purchased our second (and present) home in Massachusetts, all said the same thing: Student loan debt just isn't a factor. Again, mine is nearly $300,000 (not a typo), so I'm inclined to trust them at their word.

*We are both white, and I'm guessing Black and brown folks' experiences may vary. A lot. This might be an Eddie Murphy SNL "White Like Me" skit situation.