Biden cancels $10,000 in federal student loan debt for most borrowers

[ozimoron]

5 hours ago, EVENKEEL said:

Their should be a pre-requisite course in High School on how school loans work. 

 

Pretty much a slap in the face to the millions who saved and sacrificed for their kid's education. Or those kids who didn't go because they couldn't afford it. 

So the only kids who should go to college are the ones whose parents can afford to save and sacrifice for their kids' education? The really poor kids can take a hike?

[LarrySR]

18 minutes ago, ozimoron said:

So the only kids who should go to college are the ones whose parents can afford to save and sacrifice for their kids' education? The really poor kids can take a hike?

Republicans have invested $billions on a national media network, Fox, Breitbart, OAN, Newsmax, NY Post, Washington Examiner etc. to dumb down the electorate with a 24/7 drip feed of misinformation, propaganda, conspiracy theories. 
Why would they vote for providing education when it’s against their best interests? 

[EVENKEEL]

49 minutes ago, ozimoron said:

So the only kids who should go to college are the ones whose parents can afford to save and sacrifice for their kids' education? The really poor kids can take a hike?

You did get the memo about households making 249K/ yr are entitled right? Are these the poor kids you're talking about. Make it for household incomes of 50K/yr and it's tolerable but still stupid spending of funds.

[EVENKEEL]

29 minutes ago, LarrySR said:

Republicans have invested $billions on a national media network, Fox, Breitbart, OAN, Newsmax, NY Post, Washington Examiner etc. to dumb down the electorate with a 24/7 drip feed of misinformation, propaganda, conspiracy theories. 
Why would they vote for providing education when it’s against their best interests? 

Has anyone either GOP or dem done a thing to make education more affordable. Investigate why it's so expensive? How can the costs be reduced? nope

 

But mid terms are coming up so 10k on me.

[ozimoron]

18 minutes ago, EVENKEEL said:

You did get the memo about households making 249K/ yr are entitled right? Are these the poor kids you're talking about. Make it for household incomes of 50K/yr and it's tolerable but still stupid spending of funds.

God forbid that the poor and middle class should get a tax cut. Republicans are crickets when it comes to tax cuts for the rich.

 

That's for a working couple, a single person is half that. It's not particularly over the top. Any half decent lawyer, engineer, scientists, whatever could easily clear that. The bill is designed to exclude rich people, not everyone in the middle class. It also helps people who did low value degrees like social work and arts and aren't likely to make a motza from their education.

[EVENKEEL]

5 minutes ago, ozimoron said:

That's for a working couple, a single person is half that. It's not particularly over the top. Any half decent lawyer, engineer, scientists, whatever could easily clear that. The bill is designed to exclude rich people, not everyone in the middle class. It also helps people who did low value degrees like social work and arts and aren't likely to make a motza from their education.

yep, so the dems are hoping for a high five from both the high income earners and the real working class. If your household income is 240K/yr you're not included in the working class.

[Rimmer]

An unattributed post has been removed:

 

18. Social media content is acceptable in most forums. However in factual areas such as but not limited to news, current affairs and health topics, social media cannot be used unless it is from a credible news media source or a government agency, and must include a link to the original source.

[nauseus]

4 hours ago, Berkshire said:

I'm pretty sure there will be Republicans who benefit from this.  Student loans weren't only taken out by Democrats.

Irrelevant to the point.

[ozimoron]

6 minutes ago, nauseus said:

Irrelevant to the point.

Except that mainly Republicans oppose this tax cut for the poor. That includes all Republican elected politicians.

 

I guess many independents will benefit from this as well.

[sqwakvfr]

7 hours ago, Chomper Higgot said:

Pretty much a very welcome help to millions of Americans struggling with student debt.

 

 

I was struggling with student loan debt from 1988 to 1992.  But I paid back every cent.  I learned an important lesson: Never borrow more than you could payback based upon the type of job you might get after graduation.  Is graduation a requirement for Biden’s Debt Forgiveness?  How about working or volunteering to have the loans forgiven?  What next?  Car loan forgiveness?  Why now in August of 2022?  Sends the wrong message.  

[stevenl]

22 minutes ago, nauseus said:

Irrelevant to the point.

Since part of the point was 'vote buying ' it is very relevant.

[ozimoron]

The real reason the right wing are agin' this.

 

President Joe Biden announced a highly anticipated plan Wednesday to offer student loan relief to more than 40 million people, a move supporters hope will have life-changing ramifications for borrowers, particularly women, who hold two-thirds of student loan debt, and women of color, whose loan debt is highest.

 

He is also making reforms to lessen the debt burden on borrowers in the public service loan forgiveness program and income-driven repayment plans, allowing those with undergraduate student loans to cap repayments at 5 percent of their monthly earnings.

 

As a side issue, Australia has had this student loan repayment cap since forever.

 

https://www.rawstory.com/women-biden-loan-forgiveness/

 

 

[stevenl]

12 minutes ago, LarrySR said:

You're the one bringing up vote buying, hence my question that I noticed you didn't reply to.

No, I wasn't the one bringing it up, I responded. And please quote properly, you're replying to yourself now.

 

Earlier post was this one: "This is essentially just a cash bribe (in disguise) to potential/future voters. "

 

 

[LarrySR]

11 minutes ago, ozimoron said:

Are you disputing the amount? You asked for the link. How about a link to a number you believe?

 

Factual Reporting: HIGH

 

https://mediabiasfactcheck.com/propublica/

 

12 minutes ago, EVENKEEL said:

Left wing trash website, no thanks.

Can always spot the Fox viewer in the comments. 

[ozimoron]

9 hours ago, EVENKEEL said:

Their should be a pre-requisite course in High School on how school loans work. 

 

Pretty much a slap in the face to the millions who saved and sacrificed for their kid's education. Or those kids who didn't go because they couldn't afford it. 

This is an almost verbatim quote from Mitch McConnell yesterday. It might have been nice if you attributed it. I saw it by chance reported on CNN.

[nauseus]

2 hours ago, ozimoron said:

Except that mainly Republicans oppose this tax cut for the poor. That includes all Republican elected politicians.

 

I guess many independents will benefit from this as well.

As many will feel screwed by it.

[ozimoron]

Just now, nauseus said:

As many will feel screwed by it.

Those that couldn't afford to get a loan will lose nothing and those who can clearly afford to pay it back can hardly claim to be screwed. So, who gets screwed?

[EVENKEEL]

11 minutes ago, ozimoron said:

This is an almost verbatim quote from Mitch McConnell yesterday. It might have been nice if you attributed it. I saw it by chance reported on CNN.

I don't know of any McConnell comment. Those were my words.

[nauseus]

7 minutes ago, ozimoron said:

Those that couldn't afford to get a loan will lose nothing and those who can clearly afford to pay it back can hardly claim to be screwed. So, who gets screwed?

The poorest will lose a chance at university.

[ThailandRyan]

8 minutes ago, ozimoron said:

Those that couldn't afford to get a loan will lose nothing and those who can clearly afford to pay it back can hardly claim to be screwed. So, who gets screwed?

The citizens paying the taxes which subsidize it.

[ozimoron]

Just now, nauseus said:

Again? 5T of this was in 2020 after Covid hit. 

 

Never fear, I'm sure Joe won't be outdone!

A couple of trillion was a single tax giveaway to the rich, an amount far bigger than this bill but you're glossing over that.

[ozimoron]

1 minute ago, nauseus said:

The poorest will lose a chance at university.

How?

[ozimoron]

1 minute ago, ThailandRyan said:

The citizens paying the taxes which subsidize it.

Can't possibly give "free stuff" to the poor but it's ok for the rich. Were Trump's tax cuts a good thing?

[ozimoron]

6 minutes ago, EVENKEEL said:

I don't know of any McConnell comment. Those were my words.

"President Biden's student loan socialism is a slap in the face to every family who sacrificed to save for college, ...

 

https://www.businessinsider.com/mitch-mcconnell-gop-republicans-slams-bidens-outrageous-student-loan-forgiveness-2022-8

[Bkk Brian]

Republicans are in a panic about the student loan forgiveness plan because 43 million people directly benefit, and their parents, spouses, and children all indirectly benefit as well. Their attacks on it only makes it worse for them, but they have nothing else in their playbook.

????

[nauseus]

16 minutes ago, ozimoron said:

How?

By not having these loan subsidies when they needed them - their chance has gone now.

[300sd]

Great, let's borrow and not be responsible for our own actions. This will end well. Actually most can see clearly how it's going in the US at this time. Time is not on the side of America. Rest in peace.

[ozimoron]

12 minutes ago, 300sd said:

Great, let's borrow and not be responsible for our own actions. This will end well. Actually most can see clearly how it's going in the US at this time. Time is not on the side of America. Rest in peace.

The right wing become real debt and deficit hawks when they're not holding the purse strings. It's a bit different when they do.

[ozimoron]

When a reporter asked the president whether his plan was unfair to those who have repaid student loans or chose not to borrow in the first place, Biden replied, “Is it fair to people who, in fact, do not own multi-billion-dollar businesses if they see one of these guys getting all the tax breaks? Is that fair? What do you think?”

 

https://thehill.com/homenews/morning-report/3615080-the-hills-morning-report-will-bidens-student-loan-plan-pump-up-the-base/

[ThailandRyan]

18 minutes ago, 300sd said:

Great, let's borrow and not be responsible for our own actions. This will end well. Actually most can see clearly how it's going in the US at this time. Time is not on the side of America. Rest in peace.

So you believe the US is on its final legs and going under....better think again my friend, others will fall well before the US.