About Student Loan Forgiveness...

Why do you think it is so expensive. Why do you think the cost of attending college courses has by far outpaced inflation for decades? What has increased all that time?

 

It's a rhetorical question, why not everyone's homes instead a few's college loans. Which is more vital, which would help the most..IF such a thing were going to occur at all.

 

Or people that sign up for a loan can stop being a Welch and take care of their own responsibilities since they voluntarily entered into the arrangement

 

send all of their names to mortgage companies so they know that the potential buyers are PEOPLE THAT DON'T PAY THEIR OWN WAY

 

how many BK did Trump's businesses claim? guess he is a Welch...

 

Are you informed of the facts regarding the Israeli attack on the USS Liberty in the summer of 1967? Considering that you see Israel as an ally, I'm guessing you're not aware of that event.

 

I'm familiar. It was misidentified as a target. That happens in conflict zones. Israel apologized. It led to changes in our IFF system throughout the alliance. Doesn't mean they cease being an ally.

 

LOL. This is really rich. The various government education programs are the REASON higher education is so expensive. When my father in law was on the board of a large University they would meet prior to each school year to discuss how much to raise tuition. I sat in on one of these meetings (which lasted about 5 minutes. First question was, "How much are we going to increase tuition this year?. Second question, "How much did the DOE increase the student grant and loans programs?" Answer was 18%. Response was, "I would like to make a motion we increase tuition by 18%". Unanimous vote in favor ensued. "I would like to make a motion university salaries be increased by 18%". Unanimous vote in favor ensued. Meeting adjourned.

The student loan and grant programs don't benefit the students, they are payoff subsidies to the universities. If it weren't for the government, you wouldn't NEED a loan to get a higher education.

 

This discussion is really crazy. The whole world invests in education for their peoples to face the future whilst in the USA there are greedy people discussing is how to make money with education in the very next quartal.

 

Here is why I support loan forgiveness (though I'd modify Biden's).

Student loans cannot be discharged in bankruptcy, and if you can't pay them off, the board of education will send the loans to the DOJ for collection, and they will hunt you down for the rest of your life, but it does take a long time of defaulting for it go get as far as the DOJ for collection.

Show me one private bank that has that kind of market advantage?

If they would make student loans dischargeable in bankruptcy, I wouldn't support forgiveness.

In CA, they have ROP (now called ROCP) and you can get a lot of schooling/trade school, for practically nothing. I friend of mine got all his Microsoft certs and is making good money now, he's paying it all back in taxes to the government. I think the program should be in every state.

Yeah, taxes pay for it, but it all comes back in more productivity.

Also, you can go all the way to 2 years of college for very little via the community college program, city colleges are all over CA. The units are transferable to CalState and you're off and running.

I think both of these should be in every state, or at least the large states that can afford it. However, would require more state taxation to pay for it, but it's an investment in the citizenry.

 

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Nothing is actually free.

You just support a collectivist approach to funding college.

I do not.

 

Why do you think the cost have college has risen so drastically?

 

My point of view is this is highly unfair to all those students who took out the loans, went to college and then paid them off. What makes this present group of students so special? What this is teaching to these young ones is they don’t have to be responsible for their actions or deeds. Everyone else must pay off their loans that they took out. Why the special treatment?

 

They truly don’t understand the connection with govt backed loans handed out like candy and price increases. You can tell quickly who understands economics and finances compared to those who think feelings matter.

 

No its not.

 

Yes it is. It's highly unfair to every student that paid off their loans. Why should they have had to pay off their loans and this special group doesn't? That doesn't make any sense. It's a special Prevledge given to a few at the expense of the many. Justify how a select group of few have their loans forgiven when every other previous student who took out loans had to repay them. What sort of personal responsibility is this teaching our young folks?

 

Not even close.

 

It isn't as special treatment as you seem to think. Teachers and government workers were supposed to be able to do this for decades but they weren't getting the discharges they were already entitled to. The same for older borrowers since 1994. This is why the Department of Education was getting sued---for not holding up their end of the deal. While they still haven't addressed rising tuition unfortunately, they are at least trying to address the problems on the Dept of Ed side with tracking payments and making sure payments count and keeping better records than were being kept. They are slowly ending the failed loan servicer outsourcing fiasco that has plagued borrowers for 30 years. Most of the big ticket discharges so far have been people whose discharges have either fallen under the 2016 Defense to Repayment rule, or the original PSLF/TEACH/ICR terms. Right now, the reason there is such a push is because they are trying to get as many people as possible through before the tax moratorium on discharged student loan debt expires at the end of next year. After that, the non-PLSF borrowers will have to pay income taxes on their discharged debt. Unfortunately some conservative states have decided to enact spite taxes on student loan discharges, and the Missouri Higher Education Loan Authority (MOHELA) which was used for standing to block the one time forgiveness is screwing up so many borrowers accounts that the Department of Ed is going to have to pause PSLF/TEACH discharges long enough to rip its borrowers out of Missouri's claws and place them with other servicers.

Lastly, it isn't like people don't have to pay or all haven't been paying. My mom is in year 23 of 25 on her Direct Loan after grad school (she had a several year gap between undergrad and grad). She has been paying since the early 90's except for the periods when she was out of work with baby having, has paid in more than she ever borrowed, will get so far as we can tell 18 months shaved off, miss the tax moratorium by 6 months and end up with a $60K extra tax bill that year. It is hardly "special treatment" at this point unless the new proposed rules get enacted and implemented this year in which case she will be done because if Trump wins, his Dept of Ed won't follow the rules in the same way as his last Administration refused to implement the 2016 Defense to Repayment Rule, or address the problems with PSLF and Direct borrowers whose loans that were supposed to be discharged weren't getting discharged.

 

I'm ready to discuss ending Student Loans.

 

Has to be special. Loan forgiveness is happening to anyone else. Think about it.

 

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Why should people who have already paid off their loans get loan forgiveness?

 

Why should those who haven't paid off their loans get loan forgiveness when no one else is or have gotten it? Makes no sense.

 

Inflation, colleges becoming for-profit, general cost of living.