Student loan forgiveness: The Supreme Court challenges explained

[Scott]

 

This week marks another critical moment for US President Joe Biden's one-time student loan forgiveness plan.

The Supreme Court is reconvening to hear two cases related to the programme, which could determine whether more than 40 million people in the US are able to have thousands of dollars in debt cancelled.

Mr Biden announced a plan last August to cancel up to $10,000 (£8,400) in federal student loans for Americans who earned less than $125,000 each year, but applications for the programme were halted after a lower court judge ruled last November that it was unlawful.

https://www.bbc.com/news/world-us-canada-64752727

[thaibeachlovers]

Did Joe say who would be paying if students didn't? Does Joe think the universities should educate without being paid for doing so? Does Joe think the taxpayers are OK with paying for students, or is he just going to "print" more money?

[Chomper Higgot]

48 minutes ago, thaibeachlovers said:

Did Joe say who would be paying if students didn't? Does Joe think the universities should educate without being paid for doing so? Does Joe think the taxpayers are OK with paying for students, or is he just going to "print" more money?

Writing off a loan is not, printing money.

 

 

 

Edited March 1, 2023 by Chomper Higgot

[Tug]

52 minutes ago, thaibeachlovers said:

Did Joe say who would be paying if students didn't? Does Joe think the universities should educate without being paid for doing so? Does Joe think the taxpayers are OK with paying for students, or is he just going to "print" more money?

it’s of no concern to you now as for myself as an American I’ve always thought it is way to expensive to get an advanced degree I also feel it’s an impediment for our country to compete on the world stage many many brilliant people are priced out of a higher education it’s a shame and a failing in our system in my humble opinion 

[Hanaguma]

Kind of simple really.  To the whining students: "it's a loan.  Pay it back".  

 

Not too hard. Nobody was forced to take out student loans, nobody but the borrower should be forced to pay them back.

Edited March 1, 2023 by Hanaguma

[Chomper Higgot]

The money not spent on loan repayments will be spent on local goods and services, tax paid accordingly.

 

Go figure.

[Mac Mickmanus]

11 hours ago, Tug said:

it’s of no concern to you now as for myself as an American I’ve always thought it is way to expensive to get an advanced degree I also feel it’s an impediment for our country to compete on the world stage many many brilliant people are priced out of a higher education it’s a shame and a failing in our system in my humble opinion 

I have a good idea , why not lend students the money to get an education and then get them to repay that money back when they get a job ?

   

[Hanaguma]

16 minutes ago, Chomper Higgot said:

The money not spent on loan repayments will be spent on local goods and services, tax paid accordingly.

 

Go figure.

...or the money actually repaid to the lending institution by the debtor will be available for that institution to lend to OTHER people. Who will then use it for their purposes.

 

Go figure.

[Mac Mickmanus]

This would be quite unfair on the students who DID repay their debt , they acted responsibly by repaying their debt and those who acted irresponsibly by not repaying the money owed will be getting rewarding for  their irresponsibleness 

[Tug]

43 minutes ago, Mac Mickmanus said:

This would be quite unfair on the students who DID repay their debt , they acted responsibly by repaying their debt and those who acted irresponsibly by not repaying the money owed will be getting rewarding for  their irresponsibleness 

As a person who has paid all of my student debt I’m absolutely delighted that students of today won’t have such a crushing burden when they are just starting their careers student debt or the fear of it are holding back many students and our country imo

[Mac Mickmanus]

14 minutes ago, Tug said:

As a person who has paid all of my student debt I’m absolutely delighted that students of today won’t have such a crushing burden when they are just starting their careers student debt or the fear of it are holding back many students and our country imo

People who attend University tend to get between paying jobs , which means those on minimum wage are paying for their education through taxes .

  Poorer less intelligent people paying for the rich to get good jobs

[FritsSikkink]

14 hours ago, thaibeachlovers said:

Did Joe say who would be paying if students didn't? Does Joe think the universities should educate without being paid for doing so? Does Joe think the taxpayers are OK with paying for students, or is he just going to "print" more money?

Might be hard to grasp but it is good for a country to have educated people who understand the bigger picture and don't bother about people who think they know all but actually are listening to facts presented to them. They can save you from a lot of stupid decisions to being made.   

[Etaoin Shrdlu]

Almost half of the adult US population pay no Federal income taxes, so I don't really think that this proposal shifts the cost of student loan forgiveness from the rich to the poor. The ones who are complaining (Republicans) represent the 1% and the 0.01%. They're worried that their tax money will be used to educate those who then may be able to see through their culture war nonsense and grasp their ulterior motives.

 

The real problem with Biden's plan is that it does not address the high cost of an education in the US, it only provides a small amount of relief to people who happen to have outstanding student loans at the present time.

 

Education cost increases have far exceeded the rate of inflation for decades now, making a degree without crushing levels of debt impossible for many. Something needs to change.

 

 

 

 

[thaibeachlovers]

11 hours ago, FritsSikkink said:

Might be hard to grasp but it is good for a country to have educated people who understand the bigger picture and don't bother about people who think they know all but actually are listening to facts presented to them. They can save you from a lot of stupid decisions to being made.   

As to whether uni students actually understand the "bigger picture" is open to debate.

 

Human society existed for centuries without people getting degrees in "media studies" or some such. After universities existed people like doctors and engineers learned how to cure people and make things. Despite many more people going to uni now they haven't been able to cure cancer or bring peace to the world.

I don't see sensible decisions being made, so I can not agree with your opinion that lots of people going to uni is a "good thing" if it's just about how to get rich after.

[thaibeachlovers]

11 hours ago, Etaoin Shrdlu said:

Education cost increases have far exceeded the rate of inflation for decades now, making a degree without crushing levels of debt impossible for many. Something needs to change.

As long as people keep borrowing to go, the business people that run unis are going to keep demanding high costs. They are in it to make money, and not a charitable institution. By Biden making it easier to keep paying large, nothing is going to change on costs, IMO. The cost is just transferred from the student to the general taxpayer.

 

Perhaps if people learned to be plumbers and electricians instead of "media studies" the country would be better off for it.

[Chomper Higgot]

5 minutes ago, thaibeachlovers said:

As to whether uni students actually understand the "bigger picture" is open to debate.

 

Human society existed for centuries without people getting degrees in "media studies" or some such. After universities existed people like doctors and engineers learned how to cure people and make things. Despite many more people going to uni now they haven't been able to cure cancer or bring peace to the world.

I don't see sensible decisions being made, so I can not agree with your opinion that lots of people going to uni is a "good thing" if it's just about how to get rich after.

‘Media Studies’

 

In a world in which a revolution in media has dramatically challenged and changed almost every aspect of life.

 

I can’t for a moment think why anyone would want to study that.

[Chomper Higgot]

3 minutes ago, thaibeachlovers said:

As long as people keep borrowing to go, the business people that run unis are going to keep demanding high costs. They are in it to make money, and not a charitable institution. By Biden making it easier to keep paying large, nothing is going to change on costs, IMO. The cost is just transferred from the student to the general taxpayer.

 

Perhaps if people learned to be plumbers and electricians instead of "media studies" the country would be better off for it.

People still do learn to be plumbers and electricians.

[Bkk Brian]

8 minutes ago, thaibeachlovers said:

As long as people keep borrowing to go, the business people that run unis are going to keep demanding high costs. They are in it to make money, and not a charitable institution. By Biden making it easier to keep paying large, nothing is going to change on costs, IMO. The cost is just transferred from the student to the general taxpayer.

 

Perhaps if people learned to be plumbers and electricians instead of "media studies" the country would be better off for it.

Perhaps if people learned to be plumbers and electricians instead of "media studies" the country would be better off for it.

 

The top 5 most popular Majors in the US are:

 

Business

Health Professionals

Social Sciences

Engineering

Biological and Biomedical Sciences

 

Media studies (Communication and Journalism) comes in at 7th

 

So whats wrong with this?

Edited March 2, 2023 by Bkk Brian

[Etaoin Shrdlu]

7 minutes ago, Bkk Brian said:

Perhaps if people learned to be plumbers and electricians instead of "media studies" the country would be better off for it.

 

The top 5 most popular Majors in the US are:

 

Business

Health Professionals

Social Sciences

Engineering

Biological and Biomedical Sciences

 

Media studies (Communication and Journalism) comes in at 7th

 

So whats wrong with this?

Nothing wrong with this at all.

 

Even Media Studies is preparation for well-paid jobs in professions such as public relations and advertising, let alone print and broadcast journalism. 

[2009]

On 3/1/2023 at 8:58 AM, thaibeachlovers said:

Did Joe say who would be paying if students didn't? Does Joe think the universities should educate without being paid for doing so? Does Joe think the taxpayers are OK with paying for students, or is he just going to "print" more money?

Although I am admittedly a dirty rotten capitalist at heart, a little bit of socialism is okay.

 

Free university education is a good thing, as well as healthcare.

 

"Free" as in paid for by taxes. Otherwise, there should be no tax.

 

Imagine paying tax and not even getting education and healthcare, lol 

Edited March 2, 2023 by 2009

[vandeventer]

On 3/1/2023 at 8:58 AM, thaibeachlovers said:

Did Joe say who would be paying if students didn't? Does Joe think the universities should educate without being paid for doing so? Does Joe think the taxpayers are OK with paying for students, or is he just going to "print" more money?

Hunter could sell more paintings and donate all the money to all those poor students?

[Yellowtail]

Problem: Not enough poor people getting university degrees.

Solution: Provide government sponsored student loans.

Result: Price of education skyrockets.  

 

Problem: Not enough ethnic diversity at universities.

Solution: Lower standards to accommodate admittance of underrepresented ethnicities.

Result: Many students admitted as a result of lowered standards do not graduate.

 

Problem: Not enough students admitted as a result of lowered standards graduate

Solution: Lower graduation requirements. 

Result: Employers no longer consider many college degrees of value. 

 

Problem: Not enough graduates have jobs that pay enough to pay down their loans.

Solution: Forgive student debt. 

Result: Price of education skyrockets while the quality of education plummets. 

 

I think it's great! 

 

[Yellowtail]

3 hours ago, Bkk Brian said:

Perhaps if people learned to be plumbers and electricians instead of "media studies" the country would be better off for it.

 

The top 5 most popular Majors in the US are:

 

Business

Health Professionals

Social Sciences

Engineering

Biological and Biomedical Sciences

 

Media studies (Communication and Journalism) comes in at 7th

 

So whats wrong with this?

So why are all the MBAs. MDs, RNs, PEs unable to pay off their loans? Last time I looked they made pretty good dough. 

 

Why did you include Social Sciences? That's hilarious.  

[Bkk Brian]

Just now, Yellowtail said:

So why are all the MBAs. MDs, RNs, PEs unable to pay off their loans? Last time I looked they made pretty good dough. 

 

Why did you include Social Sciences? That's hilarious.  

Why did I include Social Sciences? Click the link and maybe you'll see why

[JonnyF]

This is simply vote buying to attempt to get young people to become lifelong Dem voters.

 

No better than Yingluck's free tablet scheme.

 

He's also been trying to charm the nurses .

 

 

[Chomper Higgot]

51 minutes ago, JonnyF said:

This is simply vote buying to attempt to get young people to become lifelong Dem voters.

 

No better than Yingluck's free tablet scheme.

 

He's also been trying to charm the nurses .

 

 

Putting the President’s personal signature on checks handed to citizens was vote buying.

 

I don’t recall you complaining.

[Yellowtail]

42 minutes ago, Chomper Higgot said:

Putting the President’s personal signature on checks handed to citizens was vote buying.

 

I don’t recall you complaining.

I complained about the checks.

[Tug]

8 hours ago, Chomper Higgot said:

People still do learn to be plumbers and electricians.

That’s not a bad way to go union plumbers and electricians make excellent money and benefits if the individual has a strong work ethic they are in incredibly high demand.an additional bonus imo is you leave the job at work and can pursue other interests when not on the (clock)

7 hours ago, vandeventer said:

Hunter could sell more paintings and donate all the money to all those poor students?

Naa old Donnie donating money from his many grifts is a much more lucrative source lmao ???? 

[Mac Mickmanus]

8 minutes ago, Tug said:

That’s not a bad way to go union plumbers and electricians make excellent money and benefits if the individual has a strong work ethic they are in incredibly high demand.an additional bonus imo is you leave the job at work and can pursue other interests when not on the (clock)

Naa old Donnie donating money from his many grifts is a much more lucrative source lmao ???? 

In the U.K ,Union rates are well below the going rate . 

Union rates are about half of the open economy rates .

No one works for Union rates of pay , as they are very low

 

[Chomper Higgot]

23 minutes ago, Mac Mickmanus said:

In the U.K ,Union rates are well below the going rate . 

Union rates are about half of the open economy rates .

No one works for Union rates of pay , as they are very low

 

That (putting it politely ) is a gross misrepresentation of fact:

 

https://www.hrreview.co.uk/hr-news/union-members-earn-tens-of-thousands-more-than-others/140552