Student Debt Forgiveness

[Greatscott]

Student debt forgiveness is on Biden's agenda for his first 100 days... I have one question about it...

ARE YOU FRIGGING KIDDING ME?!?!?!?

Why should I, as a taxpayer, pick up the tab for other people bad decisions? I don't care how smart you need to be to get a specific degree, if you pay more for your college education that you can repay in a lifetime, you cannot do basic math and YOU ARE NOT SMART!!! It does not matter if your degree is in astrophysics or astrology.

Case in point...
I gave Bernie a chance, I watched a number of his videos, and basically came away with the impression that he is a socialistic lunatic. One of his stories was of a woman who went to college to become a counselor. She paid top dollar at an ivy-league school, going in debt north of $120k, to get a $22k per year job. This woman is not smart, she should not have been leant this money to get this job, and why should taxpayers flip the bill for her being overtly stupid?

Right now I have two degrees, I am in school now to get my 3rd degree. At the end of it, I will own nothing for any of them. This is not by accident or happenstance, this is planned. If I could not get the basic math to work in my favor, I would have come up with a different plan. I sure as hell would not go into massive debt to pay for college, that is just dumb.

You ever notice the left rattles on about how education and healthcare should be free, and say that taxpayers should pay for it? But, they never talk about actually fixing these systems so that the cost is more reasonable.

[MaX-D]

Originally Posted by Greatscott

Student debt forgiveness is on Biden's agenda for his first 100 days... I have one question about it...

ARE YOU FRIGGING KIDDING ME?!?!?!?

Why should I, as a taxpayer, pick up the tab for other people bad decisions? I don't care how smart you need to be to get a specific degree, if you pay more for your college education that you can repay in a lifetime, you cannot do basic math and YOU ARE NOT SMART!!! It does not matter if your degree is in astrophysics or astrology.

Case in point...
I gave Bernie a chance, I watched a number of his videos, and basically came away with the impression that he is a socialistic lunatic. One of his stories was of a woman who went to college to become a counselor. She paid top dollar at an ivy-league school, going in debt north of $120k, to get a $22k per year job. This woman is not smart, she should not have been leant this money to get this job, and why should taxpayers flip the bill for her being overtly stupid?

Right now I have two degrees, I am in school now to get my 3rd degree. At the end of it, I will own nothing for any of them. This is not by accident or happenstance, this is planned. If I could not get the basic math to work in my favor, I would have come up with a different plan. I sure as hell would not go into massive debt to pay for college, that is just dumb.

You ever notice the left rattles on about how education and healthcare should be free, and say that taxpayers should pay for it? But, they never talk about actually fixing these systems so that the cost is more reasonable.

I agree with you 100% on this. This pissed me off big time! I've built my business over the last 25 years. I'm not rich, but very comfortable. I don't want my blood, sweat and tears to go to some idiot who got in way over their head because they wanted to go to a fancy School. They can pay their own bill. This is why I voted for Trump , because I knew what the left, liberal agenda was. I voted on policies, not because I like one guy and not the other.

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[MaX-D]

Nothing in this world is ever really free. Free healthcare and education are not free. Like you said, the taxpayers pay for it. Our taxes would go thru the roof, and our income would be 1/3 of what it is now because the moochers want everything for free. Screw that, and screw them!!

Ok, now that I'm riled about this again, I need to go break something. Excuse me, I'll be back...........

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[austin-92]

I wish this forum had a like button....


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[mikemcE]

Im glad that my full time work passion days are past me . I do pray that my kids have equal opportunity’s like I’ve enjoyed by working hard.
Debt forgiveness can be had by working it off, credit wise. Problem here is the BANKS don’t want the end to easy profits. I co-signed some loans my RN daughter got, what she pays percentage wise is criminal.


Hang up and Drive

[Phildirt]

The fact that kids have to pay this much to go to school, the banks that prey on them, and the parents that tell their kids they need to go to college for 6 years instead of learning a trade infuriates me more than the fact that they struggle to pay the loans. I think people like to use the 'snowflake/millenial' think as a catch all or scapegoat these days without understanding the full scope of issues facing our society. A lot of this mess we are in is because of the foundation laid by Boomers/GenX and now we just want to cry about the results of our inability to change the system. Status quo has done more damage than anything the kids are doing.

[crunky]

So where is my debt forgiveness on my mortgage, my jeep shit or hell maybe even the bill I have at the hobby shop.

All I can say is not my pedophile...

[Topher Builds]

Originally Posted by Phildirt

The fact that kids have to pay this much to go to school, the banks that prey on them, and the parents that tell their kids they need to go to college for 6 years instead of learning a trade infuriates me more than the fact that they struggle to pay the loans. I think people like to use the 'snowflake/millenial' think as a catch all or scapegoat these days without understanding the full scope of issues facing our society. A lot of this mess we are in is because of the foundation laid by Boomers/GenX and now we just want to cry about the results of our inability to change the system. Status quo has done more damage than anything the kids are doing.

Bingo. This does a good job of covering the situation.

https://youtu.be/PE66HEZBZYE

My biggest issue is the predatory nature of some for profit colleges and the student loan system. Make no mistake, college isn’t the product here, the people are. That’s where the real money is made, by saddling Americans with student loan debt.

With that being said, I don’t think student loan forgiveness is the answer. I don’t think us tax paying citizens should be burdened with that debt. In my opinion sally mae can shove it and should have to eat their losses after the billions of dollars they’ve made by selling the promise of a better life through education to people that weren’t equipped to take on the lifelong burden of student debt.

[Panther6834]

Originally Posted by Greatscott

Student debt forgiveness is on Biden's agenda for his first 100 days... I have one question about it...

ARE YOU FRIGGING KIDDING ME?!?!?!?

"Glad" to see your viewing this with a VERY "one-sided" view. Obviously, you haven't bothered to take into consideration things that happen in life. A person can do to college (in student loans), FULLY intending on posting those loans...but then, as CAN happen, things 'happen'.

What if someone ended up in an accident, preventing them from working? Should those people still be required to pay back their student loans? What about all those who graduated in the Spring/Fall of 2019, who either lost their jobs, or couldn't find jobs, in 2020, due to this coronavirus crap? Should they be held responsible? Then, there's the matter of the federal entities who holds the student loans, who can "sell" them to another federal entity any time they want...and, when they do so, they tack the 'fees' (which can easily be in the thousands of dollars) onto your balance...why should we, the borrower, be forced to pay the fees (not to mention any interest added) they chose to incur?

Instead of viewing matters such as this with your one-sided view (as your HAVE often done), it would behoove you to start looking at things from both sides. Learn to see the positives AND negatives of any situation, so that you can PROPERLY evaluate. Viewing things from only one side is not only improper, it's a very SCREWED UP way of going about things.

I am a student loan borrower, who originally had a balance of somewhat under $40K. Due to family matters, and other circumstances beyond my control, I had to leave before graduating, and was only able to work a part-time job. After 6 months, when u was required to stay repaying the loans, I wasn't earning enough to pay (they wanted more per month than I was earning). Because of this, I was forced into entering they're "Economic Deferment" program. While this defers loan repayment, they continue adding interest

Moving forward over the years, the federal entities holding the loans have sold my student loans back-and-forth MULTIPLE times...and, each time they've done so, they've tacked on $4k-6K to my balance. That original balance of less than $40K has "ballooned" to almost $130K, with at least $50K of that coming from then selling my loans back-and-forth. On top of all that, due to something that was NOT my fault (medical), I was on SSDI for 8.5 years. During that time, I was barely getting enough to live on...instead of having my own place, I was forced into renting a room...a friggn' 12x12ft room...THAT was my entire "living area".

I might have been employed full-time prior to this whole coronavirus crap, but not even that had me earning enough to make monthly payments in the amount they want, so I had to enter their "Income Driven Repayment" plan...however, once COVID-19 hit, and I went from working 40-50 hours per week, down to 5-8 hours per month, is should be obvious that there was NO way I could even make the IDR payment amounts.

So...now...let me ask you - after reading all of what I've gone through (and, u am, by far, NOT the only one to have gone through similar situations), do you still believe that student loan forgiveness isn't necessary under certain circumstances? Put yourself in my shoes...if you had gone through even half of what I've gone through (and, I can tell you, there are PLENTY who've gone through even worse than me), would you still say student loan forgiveness shouldn't be done?


~ More peace, love, laughter, & kindness would make the world a MUCH better place

[MaX-D]

Originally Posted by Panther6834

"Glad" to see your viewing this with a VERY "one-sided" view. Obviously, you haven't bothered to take into consideration things that happen in life. A person can do to college (in student loans), FULLY intending on posting those loans...but then, as CAN happen, things 'happen'.

What if someone ended up in an accident, preventing them from working? Should those people still be required to pay back their student loans? What about all those who graduated in the Spring/Fall of 2019, who either lost their jobs, or couldn't find jobs, in 2020, due to this coronavirus crap? Should they be held responsible? Then, there's the matter of the federal entities who holds the student loans, who can "sell" them to another federal entity any time they want...and, when they do so, they tack the 'fees' (which can easily be in the thousands of dollars) onto your balance...why should we, the borrower, be forced to pay the fees (not to mention any interest added) they chose to incur?

Instead of viewing matters such as this with your one-sided view (as your HAVE often done), it would behoove you to start looking at things from both sides. Learn to see the positives AND negatives of any situation, so that you can PROPERLY evaluate. Viewing things from only one side is not only improper, it's a very SCREWED UP way of going about things.

I am a student loan borrower, who originally had a balance of somewhat under $40K. Due to family matters, and other circumstances beyond my control, I had to leave before graduating, and was only able to work a part-time job. After 6 months, when u was required to stay repaying the loans, I wasn't earning enough to pay (they wanted more per month than I was earning). Because of this, I was forced into entering they're "Economic Deferment" program. While this defers loan repayment, they continue adding interest

Moving forward over the years, the federal entities holding the loans have sold my student loans back-and-forth MULTIPLE times...and, each time they've done so, they've tacked on $4k-6K to my balance. That original balance of less than $40K has "ballooned" to almost $130K, with at least $50K of that coming from then selling my loans back-and-forth. On top of all that, due to something that was NOT my fault (medical), I was on SSDI for 8.5 years. During that time, I was barely getting enough to live on...instead of having my own place, I was forced into renting a room...a friggn' 12x12ft room...THAT was my entire "living area".

I might have been employed full-time prior to this whole coronavirus crap, but not even that had me earning enough to make monthly payments in the amount they want, so I had to enter their "Income Driven Repayment" plan...however, once COVID-19 hit, and I went from working 40-50 hours per week, down to 5-8 hours per month, is should be obvious that there was NO way I could even make the IDR payment amounts.

So...now...let me ask you - after reading all of what I've gone through (and, u am, by far, NOT the only one to have gone through similar situations), do you still believe that student loan forgiveness isn't necessary under certain circumstances? Put yourself in my shoes...if you had gone through even half of what I've gone through (and, I can tell you, there are PLENTY who've gone through even worse than me), would you still say student loan forgiveness shouldn't be done?


~ More peace, love, laughter, & kindness would make the world a MUCH better place

I'm sorry you fell on hard times and couldn't finish school, along with not being able to pay your bills. Why should the rest of us have to pay for it though?

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[Phildirt]

I graduated with zero debt working full time. Rented used books, paid for classes as I could afford them. 4 year degree in 3 years. While married with 2 kids to feed as well. God gets the glory, I just used a little common sense and have a wife that is very good at the nuts and bolts of adulting to encourage me.

[themountain]

Originally Posted by Phildirt

I graduated with zero debt working full time. Rented used books, paid for classes as I could afford them. 4 year degree in 3 years. While married with 2 kids to feed as well. God gets the glory, I just used a little common sense and have a wife that is very good at the nuts and bolts of adulting to encourage me.

You are a lucky man..unfortunately not everybody is in that position.

[MaX-D]

Originally Posted by Phildirt

I graduated with zero debt working full time. Rented used books, paid for classes as I could afford them. 4 year degree in 3 years. While married with 2 kids to feed as well. God gets the glory, I just used a little common sense and have a wife that is very good at the nuts and bolts of adulting to encourage me.

Yeah, God's good like that!

I also worked full-time as I went through the fire academy for 6 months, and then paramedic school for 2 years four nights a week. I paid as I went. Debt free when I got my degree and started on the fire department.

I feel bad for those that get hurt or can't work, or things happen and they lose their job for whatever reason, but I'm not paying for your student loan debt.

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[Mopar man]

Need more people like you in this country PhilDirt. Common scenes not so common now a days. You sing your name on the dotted line it’s all on you not us taxpayers. I’m pretty sure we have all fell on hard times at a point or two it’s all about how you deal with it. This country is really going down the drain.

[dezfan]

For those who would benefit from this, I want to know how much of their personal income are they willing to give up and for how long so that they can repay those of us that paid our education already.

I think going back 50 years is a good start.

I mean, it’s only “fair”.

If they expect a free lunch, then they should be more than willing to return the favor right?

Let’s see how generous they are when they’re on the hook.

[Mopar man]

Originally Posted by themountain

You are a lucky man..unfortunately not everybody is in that position.

It’s not luck. It’s called being responsible and working hard. Unfortunately two of the values that are rarely being taught theses days.

[ROWDY RACING]

You take a loan, you pay it back, it is really that simple.

[Panther6834]

Originally Posted by MaX-D

I'm sorry you fell on hard times and couldn't finish school, along with not being able to pay your bills. Why should the rest of us have to pay for it though?

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The point I'm making is that circumstances NEED to be taken into consideration. Notice that, in my first comment, never once did I say "all student loans should be forgiven". I'm in agreement that, when accepting alone, one should be expecting, ready, and willing, to pay it back.

However, there ARE times where something needs to be "forgiven". If someone takes out a loan, never expecting it to pay it back, then, no, that loan should not be forgiven. But, when an individual is faced with circumstances beyond their control, and circumstances which prevent...NOT by choice...tthem from paying back their loan, then there NEEDS to be away to help those individuals.

Likewise, this thing of allowing these Federal entities holding student loans, allowing them to sell them back-and-forth to each other, and applying the associated fees to the principal balance, this needs to be made illegal. With this practice, as it currently stands, these federal entities can sell these loans to each other as often as they want. Because of this, it is easily possible for someone student loans to have 50%, if not more, caused by these "fees". Do I deserve to be responsible for paying "fees" that I never agreed to?


~ More peace, love, laughter, & kindness would make the world a MUCH better place

[MaX-D]

Originally Posted by Panther6834

The point I'm making is that circumstances NEED to be taken into consideration. Notice that, in my first comment, never once did I say "all student loans should be forgiven". I'm in agreement that, when accepting alone, one should be expecting, ready, and willing, to pay it back.

However, there ARE times where something needs to be "forgiven". If someone takes out a loan, never expecting it to pay it back, then, no, that loan should not be forgiven. But, when an individual is faced with circumstances beyond their control, and circumstances which prevent...NOT by choice...tthem from paying back their loan, then there NEEDS to be away to help those individuals.

Likewise, this thing of allowing these Federal entities holding student loans, allowing them to sell them back-and-forth to each other, and applying the associated fees to the principal balance, this needs to be made illegal. With this practice, as it currently stands, these federal entities can sell these loans to each other as often as they want. Because of this, it is easily possible for someone student loans to have 50%, if not more, caused by these "fees". Do I deserve to be responsible for paying "fees" that I never agreed to?


~ More peace, love, laughter, & kindness would make the world a MUCH better place

Perhaps I misunderstood your initial comments. I understand what you're saying now.

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[Panther6834]

Originally Posted by MaX-D

Perhaps I misunderstood your initial comments. I understand what you're saying now.

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Thank you. Hopefully, others will also understand, although I fully expect some to either not understand, it to purposely ignore the points I was trying to make. when I read to the student loans, I fully expected to be able to pay everything back. I never expected...nor did I agree to...them selling my student loans back-and-forth, charging me tens of thousands of dollars in fees. Nor did I ever expect to be on federal disability. Even worse, with this coronavirus crap, I'm now being forced into filing bankruptcy.


~ More peace, love, laughter, & kindness would make the world a MUCH better place