US student loans grotesquely high

[thebeave]

Eh, if the $10,000 loan forgiveness was a great thing to do, why not take it step further and make it $100,00 or more? Or full loan forgiveness? At what point do we say, "No, that's too much to expect of the taxpayers who have to pay for this" or "No, this will increase an already high inflation rate". And then are going to do this same thing in ten years (or less) for the next group of college students? Aren't they gonna say, "Hey, what about us? We want our 10k too! This isn't fair!" When does it end?

It ends with common sense - something absent in your response.

No need to be a dick here. So, what is the common sense answer to my questions?

 

[Harry Bosch]

Eh, if the $10,000 loan forgiveness was a great thing to do, why not take it step further and make it $100,00 or more? Or full loan forgiveness? At what point do we say, "No, that's too much to expect of the taxpayers who have to pay for this" or "No, this will increase an already high inflation rate". And then are going to do this same thing in ten years (or less) for the next group of college students? Aren't they gonna say, "Hey, what about us? We want our 10k too! This isn't fair!" When does it end?

It ends with common sense - something absent in your response.

No need to be a dick here. So, what is the common sense answer to my questions?

I don't know. It's arbitrary. Round 1 of PPP was suppose to be close to 2 months of operating expenses. I don't know why they picked 2 months rather than 3 or more.

 

[laughing dog]

Eh, if the $10,000 loan forgiveness was a great thing to do, why not take it step further and make it $100,00 or more? Or full loan forgiveness? At what point do we say, "No, that's too much to expect of the taxpayers who have to pay for this" or "No, this will increase an already high inflation rate". And then are going to do this same thing in ten years (or less) for the next group of college students? Aren't they gonna say, "Hey, what about us? We want our 10k too! This isn't fair!" When does it end?

It ends with common sense - something absent in your response.

No need to be a dick here.

I see irony is lost on you.

So, what is the common sense answer to my questions?

As Toni pointed out, there are limits to Presidential action.

As to your question about the effect on the rate of inflation, there is no reason to expect a noticeable effect on inflation this year. Whether there is a long-term effect depends on many other factors.

As to the rest of your question about the next group of college students expecting the same treatment, my response is so what? At that time, we will deal with it depending on the economic and social situation - that is how adults act. Life isn't fair. For example, it is not fair that my generation had more generous public support for higher education than this generation.

 

[lpetrich]

The Rawlsian Nurse on Twitter: "@mtsw I think that it reflects younger Dem voters & politicians being far more aggressive & oriented towards counter-attacks rather than defensive crouches (as most of the Dem gerentocracy are)." / Twitter
then
Unbreakable Peter on Twitter: "@MadMadMadMadRN @mtsw Younger Dems only experience of politics is post Newt Gingrich. The Democrats have a geriatric leadership generally are speaking a completely foreign language to them." / Twitter

I recall a Washington Post article about this generational change. It noted that the Democratic losses of the early 1980's were a traumatizing experience for many Democratic politicians back then, and that some of them have become present-day Democratic Party leaders.

Another possibility is simply nostalgia for a Good Old Days of politicians getting along with each other, before Republicans like Newt Gingrich decided to become deliberately polarizing: GOPAC Republican Handout with good words for Republicans and bad words for Democrats.

The Rawlsian Nurse on Twitter: "@mtsw Also, a realization among younger Dem voters, activists, & pols that the high road / bipartisanship / civility approach is mostly a dead end and a great way to get rolled over and over." / Twitter

Yes indeed. AOC once said that she responds to right-wing attacks because failing to do so would be letting the right wing dominate the public narrative. She saw that happen to Nancy Pelosi, for instance.

Nina Turner on Twitter: "So since conservatives care so much about the working class all of a sudden, there should be overwhelming bipartisan support to raise the federal minimum wage to at least $15. Let’s get it done. " / Twitter

 

[thebeave]

Eh, if the $10,000 loan forgiveness was a great thing to do, why not take it step further and make it $100,00 or more? Or full loan forgiveness? At what point do we say, "No, that's too much to expect of the taxpayers who have to pay for this" or "No, this will increase an already high inflation rate". And then are going to do this same thing in ten years (or less) for the next group of college students? Aren't they gonna say, "Hey, what about us? We want our 10k too! This isn't fair!" When does it end?

The limits of $10K and $20K for Pell Grant recipients are the amount that could be instituted without legislation, which POTUS cannot simply enact.

That's interesting. I hadn't heard that he was limited to a defined amount, and so far haven't found a source for that claim. If that's true, why were other Democrats saying that he didn't go far enough, as though he the power to do more on his own?

 

[thebeave]

Eh, if the $10,000 loan forgiveness was a great thing to do, why not take it step further and make it $100,00 or more? Or full loan forgiveness? At what point do we say, "No, that's too much to expect of the taxpayers who have to pay for this" or "No, this will increase an already high inflation rate". And then are going to do this same thing in ten years (or less) for the next group of college students? Aren't they gonna say, "Hey, what about us? We want our 10k too! This isn't fair!" When does it end?

It ends with common sense - something absent in your response.

No need to be a dick here. So, what is the common sense answer to my questions?

I don't know. It's arbitrary. Round 1 of PPP was suppose to be close to 2 months of operating expenses. I don't know why they picked 2 months rather than 3 or more.

Well, that's one of the problems I have with these government handouts. There doesn't seem to be too much logic to them...too arbitrary. Back at the beginning of the pandemic the government was sending out checks to everyone who had filed taxes in the previous year, regardless of whether they had a real need for it or not. I wonder about the student loan forgiveness too. How many students now have good jobs and are on track to pay back their student loan debt like a responsible adult would for any debt. Yet they are eligible to get $10,000 payoff, as far as I can see.

 

[Toni]

Eh, if the $10,000 loan forgiveness was a great thing to do, why not take it step further and make it $100,00 or more? Or full loan forgiveness? At what point do we say, "No, that's too much to expect of the taxpayers who have to pay for this" or "No, this will increase an already high inflation rate". And then are going to do this same thing in ten years (or less) for the next group of college students? Aren't they gonna say, "Hey, what about us? We want our 10k too! This isn't fair!" When does it end?

It ends with common sense - something absent in your response.

No need to be a dick here. So, what is the common sense answer to my questions?

I don't know. It's arbitrary. Round 1 of PPP was suppose to be close to 2 months of operating expenses. I don't know why they picked 2 months rather than 3 or more.

Well, that's one of the problems I have with these government handouts. There doesn't seem to be too much logic to them...too arbitrary. Back at the beginning of the pandemic the government was sending out checks to everyone who had filed taxes in the previous year, regardless of whether they had a real need for it or not. I wonder about the student loan forgiveness too. How many students now have good jobs and are on track to pay back their student loan debt like a responsible adult would for any debt. Yet they are eligible to get $10,000 payoff, as far as I can see.

Well, we didn’t get one of those checks and we definitely filed taxes. But no complaints: and didn’t need the extra( not that it would not have been great but others needed it more). I understand you are being a bit hyperbolic here but the was criteria for receiving one of those checks.

As for why should not students who now have good jobs be paying back their loans? Many/most have been paying. Unfortunately, some are not seeing their loan balances shrinking even after paying for 10 years or more. Some of the loans were simply unfair in their terms and not all or even most students have sufficient experience to be able to evaluate the terms or to recognize how long the payments will last and what effect that will have on their ability to buy a home or start a family ( for those who want to do that). Money used to pay off student debt is money that cannot be used to invest in homes or to help fund future retirement. A LOT of students graduated during a period of economic downturn and struggled to find jobs that would allow them to pay their loans and rent.instead of being able to move into the same hallmarks of adulthood as their parents did, they were stuck. Even kids like mine who had no or very low student loans were hampered by the economy that did not allow them to pursue careers they had prepared for.

Looking s of young people are foregoing marriage and children altogether. So, who will be around to perform the necessary jobs as they age? Think that is t a problem? Look at how many places of business have limited their hours because they cannot staff positions. When people talk about who will help the younger generations as they age, it’s not about them not having children who may or may not be around to help. It’s the fact that there aren’t enough people having children to grow up to become doctors and nurses and other foundational careers that support society.

If conservatives are upset about immigration now, wait until they find there are no doctors, nurses, dentists, teachers, etc. who are Anglo Americans.

 

[Gospel]

Our Father, who art in heaven, hallowed be thy name. I ask that you guide the republican angst against student loan forgiveness for the needy towards trillion dollar tax breaks for the not so god damned needy. Amen.

 

[thebeave]

Eh, if the $10,000 loan forgiveness was a great thing to do, why not take it step further and make it $100,00 or more? Or full loan forgiveness? At what point do we say, "No, that's too much to expect of the taxpayers who have to pay for this" or "No, this will increase an already high inflation rate". And then are going to do this same thing in ten years (or less) for the next group of college students? Aren't they gonna say, "Hey, what about us? We want our 10k too! This isn't fair!" When does it end?

It ends with common sense - something absent in your response.

No need to be a dick here. So, what is the common sense answer to my questions?

I don't know. It's arbitrary. Round 1 of PPP was suppose to be close to 2 months of operating expenses. I don't know why they picked 2 months rather than 3 or more.

Well, that's one of the problems I have with these government handouts. There doesn't seem to be too much logic to them...too arbitrary. Back at the beginning of the pandemic the government was sending out checks to everyone who had filed taxes in the previous year, regardless of whether they had a real need for it or not. I wonder about the student loan forgiveness too. How many students now have good jobs and are on track to pay back their student loan debt like a responsible adult would for any debt. Yet they are eligible to get $10,000 payoff, as far as I can see.

Well, we didn’t get one of those checks and we definitely filed taxes. But no complaints: and didn’t need the extra( not that it would not have been great but others needed it more). I understand you are being a bit hyperbolic here but the was criteria for receiving one of those checks.

As for why should not students who now have good jobs be paying back their loans? Many/most have been paying. Unfortunately, some are not seeing their loan balances shrinking even after paying for 10 years or more. Some of the loans were simply unfair in their terms and not all or even most students have sufficient experience to be able to evaluate the terms or to recognize how long the payments will last and what effect that will have on their ability to buy a home or start a family ( for those who want to do that). Money used to pay off student debt is money that cannot be used to invest in homes or to help fund future retirement. A LOT of students graduated during a period of economic downturn and struggled to find jobs that would allow them to pay their loans and rent.instead of being able to move into the same hallmarks of adulthood as their parents did, they were stuck. Even kids like mine who had no or very low student loans were hampered by the economy that did not allow them to pursue careers they had prepared for.

Looking s of young people are foregoing marriage and children altogether. So, who will be around to perform the necessary jobs as they age? Think that is t a problem? Look at how many places of business have limited their hours because they cannot staff positions. When people talk about who will help the younger generations as they age, it’s not about them not having children who may or may not be around to help. It’s the fact that there aren’t enough people having children to grow up to become doctors and nurses and other foundational careers that support society.

If conservatives are upset about immigration now, wait until they find there are no doctors, nurses, dentists, teachers, etc. who are Anglo Americans.

Well, you're going off into the weeds about stuff I didn't ask about. I was specifically asking about students with good jobs who were on track to pay off their loans responsibly AND also getting the $10K and you started talking about those who are having problems. One could make an argument about those with problems needing and getting the $10k. I'm having a problem with those not needing the $10k and getting it anyway while other taxpayers (some who are not so well off) are paying for it. As far as why you didn't get your free pandemic money, I don't know. I thought it was an automatic thing for all taxpayers on file.

 

[Toni]

Eh, if the $10,000 loan forgiveness was a great thing to do, why not take it step further and make it $100,00 or more? Or full loan forgiveness? At what point do we say, "No, that's too much to expect of the taxpayers who have to pay for this" or "No, this will increase an already high inflation rate". And then are going to do this same thing in ten years (or less) for the next group of college students? Aren't they gonna say, "Hey, what about us? We want our 10k too! This isn't fair!" When does it end?

It ends with common sense - something absent in your response.

No need to be a dick here. So, what is the common sense answer to my questions?

I don't know. It's arbitrary. Round 1 of PPP was suppose to be close to 2 months of operating expenses. I don't know why they picked 2 months rather than 3 or more.

Well, that's one of the problems I have with these government handouts. There doesn't seem to be too much logic to them...too arbitrary. Back at the beginning of the pandemic the government was sending out checks to everyone who had filed taxes in the previous year, regardless of whether they had a real need for it or not. I wonder about the student loan forgiveness too. How many students now have good jobs and are on track to pay back their student loan debt like a responsible adult would for any debt. Yet they are eligible to get $10,000 payoff, as far as I can see.

Well, we didn’t get one of those checks and we definitely filed taxes. But no complaints: and didn’t need the extra( not that it would not have been great but others needed it more). I understand you are being a bit hyperbolic here but the was criteria for receiving one of those checks.

As for why should not students who now have good jobs be paying back their loans? Many/most have been paying. Unfortunately, some are not seeing their loan balances shrinking even after paying for 10 years or more. Some of the loans were simply unfair in their terms and not all or even most students have sufficient experience to be able to evaluate the terms or to recognize how long the payments will last and what effect that will have on their ability to buy a home or start a family ( for those who want to do that). Money used to pay off student debt is money that cannot be used to invest in homes or to help fund future retirement. A LOT of students graduated during a period of economic downturn and struggled to find jobs that would allow them to pay their loans and rent.instead of being able to move into the same hallmarks of adulthood as their parents did, they were stuck. Even kids like mine who had no or very low student loans were hampered by the economy that did not allow them to pursue careers they had prepared for.

Looking s of young people are foregoing marriage and children altogether. So, who will be around to perform the necessary jobs as they age? Think that is t a problem? Look at how many places of business have limited their hours because they cannot staff positions. When people talk about who will help the younger generations as they age, it’s not about them not having children who may or may not be around to help. It’s the fact that there aren’t enough people having children to grow up to become doctors and nurses and other foundational careers that support society.

If conservatives are upset about immigration now, wait until they find there are no doctors, nurses, dentists, teachers, etc. who are Anglo Americans.

Well, you're going off into the weeds about stuff I didn't ask about. I was specifically asking about students with good jobs who were on track to pay off their loans responsibly AND also getting the $10K and you started talking about those who are having problems. One could make an argument about those with problems needing and getting the $10k. I'm having a problem with those not needing the $10k and getting it anyway while other taxpayers (some who are not so well off) are paying for it. As far as why you didn't get your free pandemic money, I don't know. I thought it was an automatic thing for all taxpayers on file.

There are income limits as far as who gets loan forgiveness. So those with well paying jobs would not be eligible—except those who received Pell Grants which were for low income students who, presumably had no help from family and required more help that most students.

 

[thebeave]

The income limit is $125k as I recall. Which is in itself kind of ridiculous given the various standards of living around the country. It should be dependent on your location. $125K doesn't go far in my area, but is certainly a good paying job in much of the midwest, south, etc.

Where did you hear about Biden's $10K limit?

 

[laughing dog]

I wonder about the student loan forgiveness too. How many students now have good jobs and are on track to pay back their student loan debt like a responsible adult would for any debt. Yet they are eligible to get $10,000 payoff, as far as I can see.

Here is link that explains quite a bit - How to qualify for student loan forgiveness

 

[Elixir]

Listening to npr (usual memory related disclaimer)
Some 40 million people will get relief. 20 million will get full relief.

In the short term, there will be some (probably small) inflation pressure, but it will occur while inflation is falling so it might not be very noticeable. The real payoff is down the road, when millions of people we would have had to pay to incarcerate are instead productive, taxpaying citizens.

It's MAGAt Republicans' worst nightmare. It would lay bare the room temperature IQ of their Mango Model and the disingenuousness of his sycophantic Congressional politician supporters, to millions of people - who will summarily un-elect them.

That's why University education should be free.

 

[James Brown]

Are millions of people really incarcerated over defaulting on student loans?

Of course, the War on Drugs has proven we can put up with needless incarceration for a long long time.

 

[Oleg]

That's why University education should be free.

If we fired all those with fake jobs and limited the compensation of university administrators, it probably could be. But those with comfy sinecures will fight like hell to keep them.

 

[ZiprHead]

Our Father, who art in heaven, hallowed be thy name. I ask that you guide the republican angst against student loan forgiveness for the needy towards trillion dollar tax breaks for the not so god damned needy. Amen.

 

[Gospel]

Sad Trombone - Sound Button

Click here to play the sound!

www.myinstants.com

 

[Politesse]

Our Father, who art in heaven, hallowed be thy name. I ask that you guide the republican angst against student loan forgiveness for the needy towards trillion dollar tax breaks for the not so god damned needy. Amen.

If the Christians actually read the Bible rather than just using the pretense of bibliolatry as decoration for their egos, this world would be a very different-looking place.

 

[laughing dog]

That's why University education should be free.

If we fired all those with fake jobs and limited the compensation of university administrators, it probably could be. But those with comfy sinecures will fight like hell to keep them.

In your opinion,
1) what are the "fake jobs" in universities and how much could be saved by eliminating them, and
2) what should be the compensation of university administrators?

 

[bilby]

"If you send your money to Trump, you might get a hat. Support us, and we'll give you a lot more than a hat."

Than a hat made in China.