Student Loan Forgiveness

[gcode]

My ex...last one. used the student loans like a bank. $110,000 and never finished a semester.

My step daughter has a small student load balance that we co-signed and she actually used it for college.
Most of the people I know used student loan $$$ to buy cars, go on a shopping spree and vacations or piss it away partying.
One guy I know got a $10K student loan back in the early 80's and used it as as stake for a dope dealing business.
Of course he got busted and lost his stake.  30 years later his loan balance is north of $100K.
He has never paid back a dime of it.

[CNCAppsJames]

I'd be less opposed to this if they had a plan to guarantee that this wouldn't happen again in the future.

Ya know... I can tell you with absolute, 100% beyond a shadow of a doubt certainty it will. How do I know this? Because it's how every team of shitbag politicians attempt to ensure a positive future for their team.

Look at what has happened since Reagan granted amnesty to illegal aliens in the 80's? Probably 20,000,000 more illegal aliens have invaded our nation with more coming every single day.

This is such a horrific idea.

[Rstewart]

Do y'all think it's any coincidence that they hired 87,000 new IRS Agents right before announcement of student loan forgiveness.... 
I mean you really can't make this crazy shit up

[RobertELee]

[neurosis]

I know that none of you guys like NPR, but this is a good listen. It explains the cause of this problem. 

https://www.wbur.org/onpoint/2022/05/02/from-1994-to-today-heres-what-the-federal-government-has-done-that-led-to-1-7-trillion-in-student-loan-debt

[YoDoug]

I know that none of you guys like NPR

I don't care for their news, but I like the shows where there tell peoples stories and details of their lives versus giving their liberal opinion.

[CNCAppsJames]

I know that none of you guys like NPR...

It's hard to like something that more often than not isn't much more than extreme left-wing propaganda AND funded DIRECTLY by our tax dollars.

It's REAL hard to like that.

NPR is so bad that if congress got off it's ass and cut it's funding, even George Soros would have a hard time saving it.

That being said, I do listen to it. It's good to know what the enemies of liberty, freedom, and the Constitution think.

[neurosis]

I don't care for their news, but I like the shows where there tell peoples stories and details of their lives versus giving their liberal opinion.

The guy being interviewed *seems* pretty balanced on the subject. This didn't come across as some liberals opinion on paying off student loans. It was more of a look in to how this became a problem in the first place. 

[CNCAppsJames]

MITCHELL: ...you didn't really have to qualify (fpr the loans). You didn't have to have a certain academic background or a certain income background. You could qualify for a loan if you were of college age. And so this really became an entitlement.

CHAKRABARTI: An entitlement. Okay. I could also phrase it as an expansion of access to higher education that was critical for the continuing development of the United States.

Or... they could call it what it is and stop sugar coating it. There SHOULD be a negative/pejorative connotation to the word "entitlement". Someone didn't earn it. It was taken by force/diktat given to someone that didn't earn it.

[BrianP.]

It was more of a look in to how this became a problem in the first place. 

 Don't need an in depth analysis for that. It's easy. The government got involved. Same with our health care. Soon as they got involved rates, deductibles and copays went through the roof for working people.

[MIL-TFP-41]

My take on this...if one is making $125,000/yr and they cannot afford to pay off a $10,000 loan in less than a year, then that person will always be in debt, no matter what kind of handouts they are receiving.

There is a total of 1.75 trillion of student loan debt. After this handout, that will knock it down to 1.4 trillion. My bet is the total debt will be over 2 Trillion in just 2 more years.

Not everyone should go to college. Some people are fuckng stupid. After college they are still fucking stupid, only with a mountain of debt.

[JParis]

Don't need an in depth analysis for that. It's easy. The government got involved. Same with our health care. Soon as they got involved rates, deductibles and copays went through the roof for working people.

Yes but that only answers a portion of it...the push for any and everybody "needs" to go to college regardless of desire, direction or drive, actually supported the government making it "easy money" for continuing education. That has to be factored into the financial end of it.

Government wouldn't have been necessary without the push of students.

[neurosis]

Not everyone should go to college. Some people are fuckng stupid. After college they are still fucking stupid, only with a mountain of debt.

We had a kid working here some time back.  He would always brag about his college education. It would get brought up every time a political discussion came up. He would claim that he won the argument because nobody else was educated so don't know what they're talking about. 

He did have a Bachelors in political science.  Obviously those degrees are right next to worthless.

One of the guys on the floor got in to a discussion with him and he pulled out the "I'm educated and you're just a dumb machinist" defense.  The guy said "and yet here you are working in the shipping department of a machine shop".   

[beej]

I know that none of you guys like NPR, but this is a good listen. It explains the cause of this problem. 

https://www.wbur.org/onpoint/2022/05/02/from-1994-to-today-heres-what-the-federal-government-has-done-that-led-to-1-7-trillion-in-student-loan-debt

That lady was kind of hard to listen to. she tried very hard to pin it on Nixon, Reagan, and then tried making it sound like all Clinton and Obama wanted to do was fix it. Forgetting that it was a Democrat Congress who created Sally Mae in the first place.

Also if all you read is the transcript that was on that page, it leaves out the part where the man says 40% of the people who take out loans drop out of college without getting a degree and end up essentially saddled with debt and working at the wage level of a person with no degree at all. But that's the thing about NPR

[neurosis]

But that's the thing about NPR

I'm glad that they took the time to do this interview and I'm glad that they interviewed the guy that they did.  He did a pretty good breakdown of the history of how we got here and it's important for people to understand that before they start cheerleading "student loan forgiveness".