Biden's student loan forgiveness plan

Originally posted by jaden_2.0
But it's not a good thing in isolation. All it does is encourage higher costs and bigger debts for other people later on because the government will just keep stepping in every so often to bail people out. Not only does it not fix the underlying problem, it actively makes it worse down the line. Like I said, exactly the same situation with the bank bailouts.

Originally posted by StyleTime

And they've included provisions to prevent colleges from jacking up prices in response. We could discuss how best to craft those policies, but implying they should not cancel the debt is silly.

Again, it doesn't fix the problem. Give a man a fish etc...

Originally posted by jaden_2.0
But it's not a good thing in isolation. All it does is encourage higher costs and bigger debts for other people later on because the government will just keep stepping in every so often to bail people out. Not only does it not fix the underlying problem, it actively makes it worse down the line. Like I said, exactly the same situation with the bank bailouts.

Qft. In isolation, it's just bailing water out of a boat without plugging the hole, at great cost. Just like car manufacturers raising electric car prices to absorb the tax credit, colleges will just do the same thing. Solves nothing, costs MUCH.

Originally posted by truejedi
Qft. In isolation, it's just bailing water out of a boat without plugging the hole, at great cost. Just like car manufacturers raising electric car prices to absorb the tax credit, colleges will just do the same thing. Solves nothing, costs MUCH.

Student loans do not go into repayment until six months after the student is no longer enrolled. So metaphorically, these boats do not have holes in them, just water. This bill granting them immediate relief gets the water out now. Other boats that are not filling with water yet is an entirely separate issue, and can be handled in a separate bill.

Originally posted by Adam_PoE
Student loans do not go into repayment until six months after the student is no longer enrolled. So metaphorically, these boats do not have holes in them, just water. This bill granting them immediate relief gets the water out now. Other boats that are not filling with water yet is an entirely separate issue, and can be handled in a separate bill.

I guess that means, metaphorically, you are looking at the number of boats and not the number of gallons of water. 🙂

white americans who are mad because younger people are getting a break that they did not receive: how far does this logic apply? like... should we get rid of robotic micro cardio surgery, because it's not fair to everyone who had to have their ribs sawed open? just wondering how far "whaa I didn't get one" can stretch

Originally posted by Bashar Teg
white americans who are mad because younger people are getting a break that they did not receive: how far does this logic apply? like... should we get rid of robotic micro cardio surgery, because it's not fair to everyone who had to have their ribs sawed open? just wondering how far "whaa I didn't get one" can stretch

No, it isn't "I'm out of debt, but I want them to be in debt.

It's "I'm also in debt, why aren't I included?".

Why would their type of debt get special treatment?

It's very much a feeling of being excluded from a group im also very much a part of.

2 other things:

1. What provisions were added to ensure colleges can't raise prices?

2. Who even voted on this plan? Seems like an end around of the power of the order being controlled by Congress.

Originally posted by Robtard
I don't care about private universities, they can charge what they want. But public universities here should be like that, government regulated to the point they're affordable and you don't graduate with a debt you can't pay off.

That said, the tutition rates in the U.S. have reached $50,000 annually, the reason for this is because most of it is covered by the Federal Student Aid. So not only do students end up in debt they'll have a hard time paying it off, but the taxpayers end up taking the bulk of the hit leaving them unsatisfied as well.

Meanwhile tuition for non-EU citizens in Sweden is roughly $10,000. And it's not like it's suppar education either, the university I attended had exhange programs with Caltech, Princeton, and ETH Zurich, and according to LinkedIn one of my previous classmates got his Ph.D. at Caltech.

Given the direction the U.S. is heading with soaring tuition rates, rents, and health care it's going to be very difficult to regulate any of it within a reasonable period of time without causing problems.

Originally posted by Astner
There shouldn't be any private universities. Just like there shouldn't be any private schools. The quality of education should not be a matter of wealth.

That said, the tutition rates in the U.S. have reached $50,000 annually, the reason for this is because most of it is covered by the Federal Student Aid. So not only do students end up in debt they'll have a hard time paying it off, but the taxpayers end up taking the bulk of the hit leaving them unsatisfied as well.

Meanwhile tuition for non-EU citizens in Sweden is roughly $10,000. And it's not like it's suppar education either, the university I attended had exhange programs with Caltech, Princeton, and ETH Zurich, and according to LinkedIn one of my previous classmates got his Ph.D. at Caltech.

Given the direction the U.S. is heading with soaring tuition rates, rents, and health care it's going to be very difficult to regulate any of it within a reasonable period of time without causing problems.

Originally posted by Blakemore
Sky News Australia believe this will screw the Democrats in the midterms.

I think it's gonna do the opposite. Dem's popularity seems to be recovering lately between this and the Roe v Wade thing.

It could go either way ☺️ if Dems control senate then it's more Pro biden imo

Originally posted by Blakemore
It could go either way ☺️

That's the point. Earlier in the year it was looking like Republicans were going to stream roll through the midterms.

Biden's approval rating jumped up six points in August. We'll see the outcome of this loan forgiveness next month.

https://news.gallup.com/poll/329384/presidential-approval-ratings-joe-biden.aspx

Originally posted by truejedi
No, it isn't "I'm out of debt, but I want them to be in debt.

It's "I'm also in debt, why aren't I included?".

Why would their type of debt get special treatment?

It's very much a feeling of being excluded from a group im also very much a part of.

How are you being excluded?

Originally posted by Robtard
We'll see the outcome of this loan forgiveness next month.

Originally posted by Impediment
https://www.verifythis.com/article/news/verify/education-verify/biden-student-loan-debt-forgiveness-plan-who-qualifies-how-to-apply/536-759ec5e6-9968-45f7-8518-909b76cd4d35

Share your thoughts and opinions.

What do you think about this?

I think that it’s wrong for those that have studied and gone onto find jobs in their field of study to expect to be forgiven for a debt that has blessed them. For those that took out loans and did not absorb the content and are working at McDonald’s, I could see how being forgiven of their debt may be reasonable, but it really isn’t right, because the people that loaned the money are pretty much double crossed by a system that should protect them against this type of thing.

Originally posted by Adam_PoE
How are you being excluded?

In debt but not included in the plan?

Originally posted by truejedi
2 other things:

1. What provisions were added to ensure colleges can't raise prices?

2. Who even voted on this plan? Seems like an end around of the power of the order being controlled by Congress.

That said, I do wish it was a bit more transparent. We don't have hard numbers yet, so it's like I said on the first page -- only time will tell how effective it'll be.

2. Despite how it's been presented in the media, this wasn't really Biden's doing per se. The power being exercised here is mostly the Department of Education, via the HEROES Act. This gives them the power to provide student loan relief in times of national emergency or war.

This is actually the same mechanism that allowed them to pause student debt payments during Trump's time in office too.

As for a court battle, it seems the issue would be around what qualifies as "relief", and how much was warranted. I doubt it's going to court though.

Originally posted by StyleTime
The department of education is apparently requiring them to keep prices reasonable (I suppose some degree of inflation will happen naturally). They're also re-establishing the enforcement branch of the FSA. It's actually already withdrawn authorization for some programs.

That said, I do wish it was a bit more transparent. We don't have hard numbers yet, so it's like I said on the first page -- only time will tell how effective it'll be.

2. Despite how it's been presented in the media, this wasn't really Biden's doing per se. The power being exercised here is mostly the Department of Education, via the HEROES Act. This gives them the power to provide student loan relief in times of national emergency or war.

This is actually the same mechanism that allowed them to pause student debt payments during Trump's time in office too.

As for a court battle, it seems the issue would be around what qualifies as "relief", and how much was warranted. I doubt it's going to court though.

Thanks for the answer. I'm very skeptical about prices not rising, but I guess we'll see.

It also seems to me that both parties are in a race to the bottom on taking power without Congressional approval. Appointed positions like the DOE spending this kind of money is frightening, right? I'm not the only one who feels like both parties are out of control with stuff like that?

Finally, apologies for my many "wrong word" typos these days... Auto correct and KMC has real problems on mobile.. I swear I reread the posts before I hit the post button, and it changes after that...