President Joe Biden - Kamala Harris Administration

[LouderVol]

If only the feds didn't get into the student loan business and give colleges a free pass to jack up tuition.

The last year I was in college, 2001, you could still afford a full time schedule on a part time job. I think it was around $1400 for 12 hours. I paid for my own college as long as I went. A guidance counselor when I was 18 tried to sell me on student loans so I didn't have to work in college, and I told her it was insanity to take on debt like that.

I remember UT bragging about their expansions including hires. Over my time there they ended up with fewer professors per student, and more admistrators/support staff per student. There is no way that is productive. It would be one thing if the arms race actually paid for stuff that matters and helps the students. Instead it's just a slush fund for whatever pet project is out there.

 

[utvolpj]

And what about the kids buried in debt that will never be able to own a house because their parents lived paycheck to paycheck and they were forced to take out loans for tuition? Not really having a clue at the time (because 17 years old) exactly how long it would take to pay those loans back?

I have been paying my student loans for almost 10 years now, the balance has gone up almost 20k. I'm on the "pay on time for 25 years and we'll forgive the rest" plan. 10k is a drop in the bucket and really doesn't even effect me.

Over half owe less than $20k. Between them and the ones with debt they can't possibly afford the effort is absolutely worthless pandering

 

[C-south]

And what about the kids buried in debt that will never be able to own a house because their parents lived paycheck to paycheck and they were forced to take out loans for tuition? Not really having a clue at the time (because 17 years old) exactly how long it would take to pay those loans back?

I have been paying my student loans for almost 10 years now, the balance has gone up almost 20k. I'm on the "pay on time for 25 years and we'll forgive the rest" plan. 10k is a drop in the bucket and really doesn't even effect me.

“Affect”. I suppose you need to pay more. Maybe open up a hemp farm.

 

[mr.checkerboards]

Over half owe less than $20k. Between them and the ones with debt they can't possibly afford the effort is absolutely worthless pandering

I'm rooting for Biden to do me a solid. I paid my way through school and took out interest free loans. I bought a car and a house with them so he's almost paying off both for me
Let's Go Brandon

 

[W.TN.Orange Blood]

The nation's federal student debt now tops $1.6 trillion after ballooning for years. More than 43 million Americans have federal student debt, with almost a third owing less than $10K and more than half owing less than $20K, according to the latest federal data.

Joe Biden expected to announce $10,000 student loan forgiveness program Wednesday: report

 

[allvol123]

Polling has shown that Americans are divided on the issue of debt forgive-ness, with support fluctu-ating depending on the details of the proposal. An NPR/Ipsos poll re-leased in June found 55% support for the idea of forgiving up to $10,000 in student loan debt.

Biden to Announce Student Loan Forgiveness Plan

He is shooting for the sweetest spot he could find.

 

[utvolpj]

Based on the Penn Wharton Budget analysis, the National Taxpayers Union Foundation has estimated that if Biden moves forward with canceling $10,000 per borrower, it could cost the average taxpayer around $2,085.

Surely they mean it will only cost taxpayers who clear >$400k right? That was his promise

 

[DancingOutlaw]

Surely they mean it will only cost taxpayers who clear >$400k right? That was his promise

It actually costs the taxpayer zero because the government is paying it off. Am I doing this right?

 

[allvol123]

It actually costs the taxpayer zero because the government is paying it off. Am I doing this right?

I did not know you had your Master’s in economics from an Ivy League school. Good job.

 

[BreatheUT]

Biden thinking he can just bypass congress and cancel student debt is also unconstitutional. This whole argument is insane. He is on a handout tour pandering for votes.

Why don't he cancel Fannie Mae and Freddie Mac debt as well to all non college students who worked since 18 y/o and whose tax dollars the democrats want to spend to help their base.

 

[Orangeburst]

Bless their NAACP hearts


“This is not how you treat Black voters who turned out in record numbers and provided 90% of their vote to once again save democracy in 2020,” he concluded.

 

[GoBigOrangeUT]

Over half owe less than $20k. Between them and the ones with debt they can't possibly afford the effort is absolutely worthless pandering

I agree it’s worthless, but can it really be pandering when he ran on this exact thing?

 

[Sea Ray]

Bless their NAACP hearts


“This is not how you treat Black voters who turned out in record numbers and provided 90% of their vote to once again save democracy in 2020,” he concluded.

NAACP president bashes Biden’s reported plans on student debt relief

 

[Sea Ray]

I agree it’s worthless, but can it really be pandering when he ran on this exact thing?

It was pandering then, it's pandering now. It's the principle "if you rob Peter to pay Paul you can count on Paul's vote"

 

[BreatheUT]

What was the name of the empty shelves thread we had?

Has anyone looked for baking potatoes lately? The candy bars aisle? Cleaning products like sponges, etc? Wal Mart is bundling 2-18 count generic large eggs for over $9. This is insane.

 

[utvolpj]

I agree it’s worthless, but can it really be pandering when he ran on this exact thing?

Yes. It was pandering for votes. Anyone who thinks this is a good thing is either lazy or didn't use their student loan on a math class

He also ran on the promise that taxes for people making less than $400k weeks not increase. This makes it impossible if they ever intend to pay it off

 

[hog88]

And what about the kids buried in debt that will never be able to own a house because their parents lived paycheck to paycheck and they were forced to take out loans for tuition? Not really having a clue at the time (because 17 years old) exactly how long it would take to pay those loans back?

I have been paying my student loans for almost 10 years now, the balance has gone up almost 20k. I'm on the "pay on time for 25 years and we'll forgive the rest" plan. 10k is a drop in the bucket and really doesn't even effect me.

There are plenty of options available for kids to get a quality college education with little to no debt. I just can’t bring myself to feel sorry for the kids who won’t take advantage of them.

 

[hog88]

Only way to go to college. Parents drilled into my head I had to go to college. I know now that is a lie but I sure didn't then.

Banks wouldn't give a 17 year old with no real job a mortgage loan, they'd laugh in your face. So why is it different for student loans? Because its a scam.

Exactly and you fell for it. True education is often painful.

 

[dovervolz]

And what about the kids buried in debt that will never be able to own a house because their parents lived paycheck to paycheck and they were forced to take out loans for tuition? Not really having a clue at the time (because 17 years old) exactly how long it would take to pay those loans back?

I have been paying my student loans for almost 10 years now, the balance has gone up almost 20k. I'm on the "pay on time for 25 years and we'll forgive the rest" plan. 10k is a drop in the bucket and really doesn't even effect me.

"FORCED" who held a gun to your head to force you to take out a loan for tuition? I worked a night shift job and went to school days to pay my tuition. But now all these lazy a$$ fu##ers getting their's paid off by me and the rest of the taxpayers.

 

[StarRaider]

It actually costs the taxpayer zero because the government is paying it off. Am I doing this right?

i would be ok with the bailout IF it came 100% from universities' endowments.... pAy uR fAiR sHaRe

 

[StarRaider]

What was the name of the empty shelves thread we had?

Has anyone looked for baking potatoes lately? The candy bars aisle? Cleaning products like sponges, etc? Wal Mart is bundling 2-18 count generic large eggs for over $9. This is insane.

I know it was weird... no russet potatoes at the store last week.

 

[DancingOutlaw]

There are plenty of options available for kids to get a quality college education with little to no debt. I just can’t bring myself to feel sorry for the kids who won’t take advantage of them.

Yes there are other ways to defray the cost of college, but I don't want to do them.
I wish I had tried harder about applying for scholarships. There is so much money out there up for grabs, you can write one or two essays and use them over and over on applications. I'm on a scholarship committee now and if applicants meet the cutoff as far as grades and recommendations go they're basically guaranteed to get $1,000. For writing a few hundred words and getting two recommendation letters.

 

[BreatheUT]

I know it was weird... no russet potatoes at the store last week.

I talked to a guy that worked for Kroger last night. He said they are apparently having supply chain issues and I'm not the only one that asked about it last night. The potatoes they do have are small bags with very small potatoes. No Russet or baking potatoes.

 

[85SugarVol]

I’m guessing your study curriculum wasn’t in accounting or finance?

I’m betting something like Criminal Justice or Urban Studies.

 

[NorthDallas40]

I’m betting something like Criminal Justice or Urban Studies.

Urban studies would line up well with the “I’ve paid for 10 years and the balance has gone up 20k” statement. Whatever field of study I’m sure the time value of money was never discussed.