I'm going to lose my mind if Biden forgives student loans... (Page 1/4)
82-T/A [At Work] MAY 05, 08:39 AM

This is being considered:

https://www.bloomberg.com/n...-student-debt-relief


Not that any of it should matter... but the vast majority of student debt holders are middle class white students. I could care less what race they are, but the Democrats keep pushing the fake narrative that it's to help poor minorities... which we now know is completely false.


I paid for my associates degree out of pocket.
I paid for half of my bachelors degree out of pocket (I also got scholarships and my dad helped me with part of it).
My company paid for my Masters Degree
I paid out of pocket for my four Masters Certificates
The current Masters Degree that I'm working towards, I am paying for it out of pocket.

Why then, after the money I've paid for education, should I now have to pay for everyone else's education?


What kind of precedence does this set up? That you can simply take out loans and someone else will pay for it?

This has Millennial stench all over it. This is exactly the kind of **** that these ****ing kids expect, and Biden is going to give it to them for votes.


And in addition, where in the Constitution does the president have the authority to just issue Executive Orders... or for that matter, Executive Privilege? The U.S. Constitution says nothing about this for either. The president has the authority of execution and enforcement... but not to forgive debt. The power of the purse belongs to the legislature... someone tell me where Biden has the authority to just forgive debt?
cliffw MAY 05, 09:19 AM

quote
Originally posted by 82-T/A [At Work]:
Why then, after the money I've paid for education, should I now have to pay for everyone else's education?



Those that go to college have the potential to make many times over what a non college educated person would. Yet, now carpenters, plumbers, truck drivers, even those earning Social Security will be paying for those that took on a debt.

Not only that, govt guaranteed loan payments greatly increased the cost of going to college. If there would be any debt cancellation, the colleges should pay the brunt.
olejoedad MAY 05, 09:32 AM
I agree with both of you.

Don't forget though - this is just another way to weaken America - financially, societally, institutionally.

America stands in the way of One World Government.
Jake_Dragon MAY 05, 09:45 AM
Cancel the loan should also cancel the degree.
RWDPLZ MAY 05, 09:49 AM
Never gonna happen, that's the carrot on a stick they're gonna dangle perpetually in front of an entire generation (or two) in order to keep getting those votes.

I spent en entire year a few years ago just paying off student loans.
Zeb MAY 05, 10:49 AM
The whole system is set up for failure. I've said it before, and I'll say it again here:

"If somebody else is paying for it, the price will always go up."

Medical care, or college, it doesn't matter. Once loans were extended to every student in basically unlimited amounts, schools were effectively told they could charge anything they wanted. Every college has been on a building spree since, using OUR tax dollars to do so. And jacking up tuition through the newer, taller, roof. The last 40 years have been very profitable for universities. But their product hasn't changed.

And it's not just students. How many parents (full disclosure: I'm one) have mortgaged their retirement to send a child to college? Are they included in any relief plans? What percentage of "student debt" is held by parents? Do I feel entitled to debt relief? No, I knew what I was getting into. Do I expect debt relief? Again, no. I doubt it will come. Would I welcome it if somebody signed a piece of paper and made it go away? Hell yes. Might be nice to retire at 65 instead of 75.

I completely understand why many would "Lose their minds" if it ALL gets written off. And what about the next generation of students? Will they be stuck with the bill, after being shown that they'll get bailed out? The colleges won't learn anything from this whole debacle. Despite the fact that the pandemic has shown that it can all be done remotely, and those billion dollar campuses can sit empty.
olejoedad MAY 05, 11:33 AM
If anything, their product has gotten much worse.

When I was in college, I was taught how to approach a problem so it could be solved.

Now they are Progressive Left indoctrination centers, with a few exceptions.
Raydar MAY 05, 11:39 AM
I went to community college / tech school. 1977-78. Earned a two-year certificate in Electronics Technology. (Perfectly geared toward my desired career path.)
Cost me $128/semester.

Retired two months ago. Thinking about going back, and learning to weld. I'm sure it will be more expensive, this time.

[This message has been edited by Raydar (edited 05-05-2022).]

olejoedad MAY 05, 11:53 AM
I told my four kids when they were in 6th grade that I was not paying for their secondary education.
They were encouraged to participate in after school and community activities, study and get good grades, and apply for every scholarship, grant and loan they could get.
The rationale behind that was simple - your education will benefit you. The skills you develop in high school and the community will help you with your career and secondary education.

They all went on to school, and each one told me that telling them what I did and when I did was the best thing I could have done for them, as they took their secondary studies seriously - because it was their money they were spending.
Jake_Dragon MAY 05, 12:23 PM

quote
Originally posted by Zeb:

The whole system is set up for failure. I've said it before, and I'll say it again here:

"If somebody else is paying for it, the price will always go up."

Medical care, or college, it doesn't matter. Once loans were extended to every student in basically unlimited amounts, schools were effectively told they could charge anything they wanted. Every college has been on a building spree since, using OUR tax dollars to do so. And jacking up tuition through the newer, taller, roof. The last 40 years have been very profitable for universities. But their product hasn't changed.

And it's not just students. How many parents (full disclosure: I'm one) have mortgaged their retirement to send a child to college? Are they included in any relief plans? What percentage of "student debt" is held by parents? Do I feel entitled to debt relief? No, I knew what I was getting into. Do I expect debt relief? Again, no. I doubt it will come. Would I welcome it if somebody signed a piece of paper and made it go away? Hell yes. Might be nice to retire at 65 instead of 75.

I completely understand why many would "Lose their minds" if it ALL gets written off. And what about the next generation of students? Will they be stuck with the bill, after being shown that they'll get bailed out? The colleges won't learn anything from this whole debacle. Despite the fact that the pandemic has shown that it can all be done remotely, and those billion dollar campuses can sit empty.



My sister is in the same boat, she is listed on the loan as a cosigner and is responsible when her children do not make the loan payments. She has been ****ed over a couple of times. 2 out of 3 kids are not using their degree for anything other than wall decorations. I love my family but there needs to be a line of responsibility, on both sides.

I asked my mother to help with school and she told me no. End of story, never asked again. Paid for my own school.