Re: Student Loans

by **Trapper Gus** Fri 1 Dec 2023 - 12:41

Cameron wrote:
Zurn wrote:

As one against forgiving student loans, I would say it's not about discouraging college attendance. It's about fairness. It has never been adequately explained to me why of all the possible types of loans Democrats could have chosen to forgive they picked student loans. Why not car loans? Mortgages? Small business loans? Credit card debt?

I see it for what it is: vote buying.

The whole student loan, college tuition thing is basically racketeering anyway and is largely responsible for the skyrocketing tuition we have today.

Let's say they picked student loan debt relief the same way they picked student loan debt to be one of the few types not dischargeable in bankruptcy. Was that a fair choice, or was that driven by special interests?

Don't answer that, I don't care.

Another place where Biden is doing what he can while blocked on student loans in Congress.

Washington
CNN
—
The Department of Justice released new guidance Thursday that aims to make it easier to have federal student loan debt discharged in bankruptcy – a particularly difficult legal process under the previous policy.

Unlike credit card, medical and other consumer debts, student loan borrowers must show that paying off the debt would cause them “undue hardship.”

Removing that legal requirement would require an act of Congress. But the new federal guidance, which was released in close coordination with the Department of Education, is meant to simplify the burdensome process of showing undue hardship and make it easier for government lawyers to recommend to the court that the debt be discharged.

https://www.cnn.com/2022/11/17/politics/student-loan-debt-bankruptcy/index.html

by **Trapper Gus** Fri 12 Jan 2024 - 9:01

The Biden administration is making good on its promise to cancel more student loan debt.

Driving the news: Starting next month, borrowers enrolled in the Saving on a Valuable Education plan who took out less than $12,000 in loans and have been in repayment for 10 years will get their remaining student debt cancelled, the administration announced Friday.

The big picture: Although the Supreme Court blocked President Biden's major student loan forgiveness plan last year, his administration found workarounds to cancel some $132 billion in loans for more than 3.6 million student borrowers.

By the numbers: 6.9 million people have already enrolled in the plan, and 3.9 million have a $0 monthly payment.

https://www.axios.com/2024/01/12/student-loans-cancelled-biden-save-plan

by **Travis of the Cosmos** Fri 12 Jan 2024 - 11:39

by **Trapper Gus** Wed 17 Jan 2024 - 10:45

Biben keeps working to eliminate student loan debt, within the law, as he promised to do.

Some BIN posters keep spewing negative opinions.

by **Trapper Gus** Thu 21 Mar 2024 - 11:18

The Biden administration has been forging ahead with student loan forgiveness and other debt relief for borrowers. And the results are striking. Of the estimated 43 million student loan borrowers in America, approximately 20% have either been approved for debt cancellation or have no current repayment obligation.

Despite last summer’s Supreme Court decision striking down President Joe Biden’s one-time student loan forgiveness plan, the administration has still managed to provide widespread relief. Through regulatory reforms and executive actions that have “fixed” or “improved” existing loan forgiveness programs, many more borrowers are benefiting from student debt relief. And Biden is also developing a new, separate student loan forgiveness plan which — if enacted — could do even more.

https://www.forbes.com/sites/adamminsky/2024/03/19/2-out-of-5-borrowers-get-student-loan-forgiveness-or-0-payments-under-biden-programs/?sh=3cbd012a6f14

Last week, President Joe Biden praised his administration’s efforts to provide debt relief to borrowers, noting in his State of the Union address that four million people have received student loan forgiveness since he took office. The administration achieved this largely through fixes and “improvements” to existing programs, many of which were plagued by historic problems.

But the Biden administration is also working on developing a new loan forgiveness plan, which could expand student debt relief even further. This plan will feature a new pathway for borrowers to request relief based on financial hardships. And last month, the Education Department took a significant step toward making this new program a reality.

https://www.forbes.com/sites/adamminsky/2024/03/11/biden-proceeds-with-hardship-student-loan-forgiveness-plan---6-key-details/?sh=766ee7556441

by **kingstonlake** Thu 21 Mar 2024 - 11:42

You left out the part where most of these forgiveness avenues are for federal or local government workers.

by **Trapper Gus** Thu 21 Mar 2024 - 11:44

kingstonlake wrote:You left out the part where most of these forgiveness avenues are for federal or local government workers.

You left out the part where those forgiveness programs have been screwed up for years and Biden has fixed them.

&

Most, but not all...

Additionally, nearly 153,000 borrowers have been granted student loan forgiveness so far under Biden’s new income-driven repayment program known as SAVE (Saving on a Valuable Education). Under that plan, remaining federal student loan balances are erased for those who originally borrowed $12,000 or less and have made payments for at least 10 years.

by **Trapper Gus** Fri 5 Apr 2024 - 19:22

Joe will be announcing some of the details of the DoE plan to eliminate more outstanding student loans and reduce the costs of next week.

https://apnews.com/article/biden-education-department-student-loan-debt-forgiveness-fc7bc28332b1b1faec088ae7a02b5f0c

by **Trapper Gus** Mon 8 Apr 2024 - 20:47

https://apnews.com/article/student-loan-cancellation-debt-college-forgiveness-c3ec59d4c1d89e77bc1afc6c8ded1615

The widest-reaching provision aims to reset student loan balances for borrowers who have seen their debt grow because of unpaid interest. It would cancel up to $20,000 in interest for Americans who now owe more than they originally borrowed. That cap wouldn’t apply for individuals who make less than $120,000 a year or couples who earn less than $240,000 and also are enrolled in an income-driven repayment plan.

Borrowers who are eligible for other federal forgiveness programs but haven’t applied would also get their loans canceled under the new proposal. It applies to the Public Service Loan Forgiveness program and income-driven repayment plans, among others.

All debt would be canceled for borrowers who have been repaying undergraduate loans for 20 years or more, or 25 years for those with graduate school debt.

Those who attended college programs of “low financial value” would be eligible for forgiveness. The plan would cancel debt for borrowers who went to institutions that lost eligibility for federal education funding because they cheated students. It would also cancel loans for people who went to college programs that left graduates with low incomes compared to their student loans.

A final category would cancel loans for Americans facing hardship that prevents them from repaying their student loans. The rule would allow the Education Department to cancel debt for borrowers who are considered highly likely to default on their loans, and it would create an application system for individuals to detail other forms of hardship.

by **Robert J Sakimano** Mon 8 Apr 2024 - 21:47

Imagine being upset that someone's student loans were forgiven.

by **GRR Spartan** Mon 8 Apr 2024 - 22:12

Zurn is posting his ass off as the designated GOP 5thColumn.

In his world giving more tax breaks for corporations is a good idea. When those corporations use those tax savings to buy back stocks to drive up share prices it’s even better.

Those folks who are getting loan forgiveness are in the bottom 3 quintiles and aren’t the people who the GOP considers “Job creators” so they don’t NEED government help like the those Job creators. They’d use that extra $300-$500 a month to do things like buy furniture, a car, clothes, maybe start going to the dentist regularly.

But they didn’t “earn it” like those who saw their dividends increase due to stock buybacks.

by **Travis of the Cosmos** Tue 9 Apr 2024 - 0:13

Trapper Gus wrote:https://apnews.com/article/student-loan-cancellation-debt-college-forgiveness-c3ec59d4c1d89e77bc1afc6c8ded1615

The widest-reaching provision aims to reset student loan balances for borrowers who have seen their debt grow because of unpaid interest. It would cancel up to $20,000 in interest for Americans who now owe more than they originally borrowed. That cap wouldn’t apply for individuals who make less than $120,000 a year or couples who earn less than $240,000 and also are enrolled in an income-driven repayment plan.

Borrowers who are eligible for other federal forgiveness programs but haven’t applied would also get their loans canceled under the new proposal. It applies to the Public Service Loan Forgiveness program and income-driven repayment plans, among others.

All debt would be canceled for borrowers who have been repaying undergraduate loans for 20 years or more, or 25 years for those with graduate school debt.

Those who attended college programs of “low financial value” would be eligible for forgiveness. The plan would cancel debt for borrowers who went to institutions that lost eligibility for federal education funding because they cheated students. It would also cancel loans for people who went to college programs that left graduates with low incomes compared to their student loans.

A final category would cancel loans for Americans facing hardship that prevents them from repaying their student loans. The rule would allow the Education Department to cancel debt for borrowers who are considered highly likely to default on their loans, and it would create an application system for individuals to detail other forms of hardship.

“In the fall”

I don’t know why they refuse to learn their lesson. Announce it today. Cancel it tomorrow. Be ready to do that before you announce it. Make the republican Supreme Court literally put debt back on the books that has least been taken off (which would be of dubious legality on its own)

Don’t allow them 6 months to cancel your hypothetical plan with hypothetical forgiveness. Of course they will do that. They paid no penalty the first time and they’ll pay none now. You need to actually make them do something that makes them look as vile as they are, then bring the single mom on stage who had her debt entirely forgiven but the Supreme Court reopened her loans and now she can’t afford it (which again, reopening debt like that might not even be possible or legal once it’s done and closed.)

by Zurn Tue 9 Apr 2024 - 9:26

GRR Spartan wrote:Zurn is posting his ass off as the designated GOP 5thColumn.

In his world giving more tax breaks for corporations is a good idea. When those corporations use those tax savings to buy back stocks to drive up share prices it’s even better.

Those folks who are getting loan forgiveness are in the bottom 3 quintiles and aren’t the people who the GOP considers “Job creators” so they don’t NEED government help like the those Job creators. They’d use that extra $300-$500 a month to do things like buy furniture, a car, clothes, maybe start going to the dentist regularly.

But they didn’t “earn it” like those who saw their dividends increase due to stock buybacks.

Several points.

The GOP is a very dumb political party, even dumber than the democrats. But even the GOP isn't dumb enough to shill on a board that has about 20 posters and 18 of them confirmed leftiists.

Yes, in my world corporations would not pay taxes. That would result in a freer flow of capital resulting in that capital going to more efficient places and hence would be good for the economy.

In general, I always vote to allow corporations that I am a shareholder of to buy back shares as it is good for me.

Fact: Biden's student loan forgiveness actually helps the upper 50% more than the lower 50%. Now you can still favor this policy but don't twist the facts of the end result of it.

Dividends don't go up due to stock buybacks. If I own 1 share paying $2/share dividend, after a stock buyback (if I didn't sell) I still have 1 share collecting a $2 dividend. Not surprised that you didn't know that.

by **Robert J Sakimano** Tue 9 Apr 2024 - 9:29

Zurn wrote:
GRR Spartan wrote:Zurn is posting his ass off as the designated GOP 5thColumn.

In his world giving more tax breaks for corporations is a good idea. When those corporations use those tax savings to buy back stocks to drive up share prices it’s even better.

Those folks who are getting loan forgiveness are in the bottom 3 quintiles and aren’t the people who the GOP considers “Job creators” so they don’t NEED government help like the those Job creators. They’d use that extra $300-$500 a month to do things like buy furniture, a car, clothes, maybe start going to the dentist regularly.

But they didn’t “earn it” like those who saw their dividends increase due to stock buybacks.

Several points.

The GOP is a very dumb political party, even dumber than the democrats. But even the GOP isn't dumb enough to shill on a board that has about 20 posters and 18 of them confirmed leftiists.

Yes, in my world corporations would not pay taxes. That would result in a freer flow of capital and result in that capital going to more efficient places and hence would be good for the economy.

In general, I always vote to allow corporations that I am a shareholder of to buy back shares as it is good for me.

Fact: Biden's student loan forgiveness actually helps the upper 50% more than the lower 50%. Now you can still favor this policy but don't twist the facts of the end result of it.

Dividends don't go up due to stock buybacks. If I own 1 share paying $2/share dividend, after a stock buyback (if I didn't sell) I still have 1 share collecting a $2 dividend. Not surprised that you didn't know that.

RQA advocating for corporations over people.

Student Loans - Page 15 200.gif?cid=ddb306a5li0tlwjm7fj6ykgw931rsjxmwjlg62zhyxqzd55q&ep=v1_gifs_search&rid=200

Student Loans - Page 15 200.gif?cid=ddb306a5li0tlwjm7fj6ykgw931rsjxmwjlg62zhyxqzd55q&ep=v1_gifs_search&rid=200

by **Robert J Sakimano** Tue 9 Apr 2024 - 9:58

I also dig the republican/libertarian talking point of "this is some election year stunt... an attempt to buy votes"!! Student Loans - Page 15 4198636888

yep - it absolutely is. And that, my anti-America friends, is exactly what political leaders do. They listen to their constituents and react accordingly.

or, to my friends who are beholden to corporations and the mainstream media, look at it this way... while Biden is listening to voters, republicans/libertarians are doing everything they can to disenfranchise voters.

by **Cameron** Tue 9 Apr 2024 - 10:25

Guy who loves corporate stock buybacks and 0% corporate tax rates... Either a rich c unt or the dumbest motherfucker on the planet. Or both.

by **DWags** Tue 9 Apr 2024 - 10:32

Cameron wrote:Guy who loves corporate stock buybacks and 0% corporate tax rates... Either a rich c unt or the dumbest motherfucker on the planet. Or both.

No, that’s not how it works. The modern right wing Republican party doesn’t have to be rich, doesn’t have to be stupid.. They just see people in a lower socioeconomic class than them, and they just hate them. They want them to have no ability to take a step up, they fear if they get any breaks, It will somehow hurt them immensely

It’s not that they are in some fantasy world where they believe they are the top 3% in America, they just hate the bottom 30%. I

by **Robert J Sakimano** Tue 9 Apr 2024 - 11:06

DWags wrote:
Cameron wrote:Guy who loves corporate stock buybacks and 0% corporate tax rates... Either a rich c unt or the dumbest motherfucker on the planet. Or both.

No, that’s not how it works. The modern right wing Republican party doesn’t have to be rich, doesn’t have to be stupid.. They just see people in a lower socioeconomic class than them, and they just hate them. They want them to have no ability to take a step up, they fear if they get any breaks, It will somehow hurt them immensely

It’s not that they are in some fantasy world where they believe they are the top 3% in America, they just hate the bottom 30%. I

yep - this is true.

Biden working to eliminate student debt is no different than republican/libertarians working to relegate women to second class citizens. It's what their supporters want.

The difference is that Biden is working to benefit all Americans who have student debt, whereas republican/libertarians are just working to dehumanize basically half the population who just happen to be our wives, daughters, mothers, sisters, etc.

by **kingstonlake** Tue 9 Apr 2024 - 11:34

DWags wrote:
Cameron wrote:Guy who loves corporate stock buybacks and 0% corporate tax rates... Either a rich c unt or the dumbest motherfucker on the planet. Or both.

No, that’s not how it works. The modern right wing Republican party doesn’t have to be rich, doesn’t have to be stupid.. They just see people in a lower socioeconomic class than them, and they just hate them. They want them to have no ability to take a step up, they fear if they get any breaks, It will somehow hurt them immensely

It’s not that they are in some fantasy world where they believe they are the top 3% in America, they just hate the bottom 30%. I

Not all of them. I live in an area where a ton of these people live and they don’t have a pot to piss in. And they will Pull the “R” lever ten times out of ten. All they have to do is play to their fears, prejudices, and idea that Merica should look like them.

by **DWags** Tue 9 Apr 2024 - 11:45

kingstonlake wrote:
DWags wrote:

No, that’s not how it works. The modern right wing Republican party doesn’t have to be rich, doesn’t have to be stupid.. They just see people in a lower socioeconomic class than them, and they just hate them. They want them to have no ability to take a step up, they fear if they get any breaks, It will somehow hurt them immensely

It’s not that they are in some fantasy world where they believe they are the top 3% in America, they just hate the bottom 30%. I

Not all of them. I live in an area where a ton of these people live and they don’t have a pot to piss in. And they will Pull the “R” lever ten times out of ten. All they have to do is play to their fears, prejudices, and idea that Merica should look like them.

I call it, the Jerry Springer, Wells, Hall, voting block. They have so many brain worms of hate fear prejudice, that they will pull a trigger that is absolutely against their self interest.

by TravelinMan Tue 9 Apr 2024 - 11:54

DWags wrote:
Cameron wrote:Guy who loves corporate stock buybacks and 0% corporate tax rates... Either a rich c unt or the dumbest motherfucker on the planet. Or both.

No, that’s not how it works. The modern right wing Republican party doesn’t have to be rich, doesn’t have to be stupid.. They just see people in a lower socioeconomic class than them, and they just hate them. They want them to have no ability to take a step up, they fear if they get any breaks, It will somehow hurt them immensely

It’s not that they are in some fantasy world where they believe they are the top 3% in America, they just hate the bottom 30%. I

TBF, does ANYBODY like the bottom 30%? I mean… ew!

by **DWags** Tue 9 Apr 2024 - 12:48

TravelinMan wrote:
DWags wrote:

No, that’s not how it works. The modern right wing Republican party doesn’t have to be rich, doesn’t have to be stupid.. They just see people in a lower socioeconomic class than them, and they just hate them. They want them to have no ability to take a step up, they fear if they get any breaks, It will somehow hurt them immensely

It’s not that they are in some fantasy world where they believe they are the top 3% in America, they just hate the bottom 30%. I

TBF, does ANYBODY like the bottom 30%? I mean… ew!

I’m assuming that this line was funny in your head when you wrote it.

by **Robert J Sakimano** Tue 9 Apr 2024 - 13:10

I'm still trying to wrap my head around the type of person who is upset when something good happens to someone else.

if someone came to me and said, "dude - I just had a $25,000 medical bill that was forgiven. I owe nothing" - that would be amazing news for them and I would be so happy with regard to how that would positively impact the life of them and their family.

seems like just another area in our life where political/religious beliefs create such a divisive level of contempt for our fellow Americans.. and the division is sewn by the very people who benefit from it: politicians, religious leaders, the corporate media, and corporations.

by **Jake from State Farm** Tue 9 Apr 2024 - 14:04

Robert J Sakimano wrote:I'm still trying to wrap my head around the type of person who is upset when something good happens to someone else.

if someone came to me and said, "dude - I just had a $25,000 medical bill that was forgiven. I owe nothing" - that would be amazing news for them and I would be so happy with regard to how that would positively impact the life of them and their family.

seems like just another area in our life where political/religious beliefs create such a divisive level of contempt for our fellow Americans.. and the division is sewn by the very people who benefit from it: politicians, religious leaders, the corporate media, and corporations.

Much better than the people complaining that a miniscule portion of their miniscule annual tax bill is going to make someone's life better. If they ever stopped to figure it out it probably amounts to two or three cents/year that might actually come out of their pocket.

by **DWags** Tue 9 Apr 2024 - 14:17

Robert J Sakimano wrote:I'm still trying to wrap my head around the type of person who is upset when something good happens to someone else.

if someone came to me and said, "dude - I just had a $25,000 medical bill that was forgiven. I owe nothing" - that would be amazing news for them and I would be so happy with regard to how that would positively impact the life of them and their family.

seems like just another area in our life where political/religious beliefs create such a divisive level of contempt for our fellow Americans.. and the division is sewn by the very people who benefit from it: politicians, religious leaders, the corporate media, and corporations.

If your friend/neighbor/someone you know wins something, gets something nice done for them in their life, or just plain gets lucky, and your first thought is how it effects you, you've been raised wrong..

Example: I can't believe how angry some people are in the twitter that Iowa womens basketball had 19 million viewers. WTF? Why would you be angry about somebody watching something on t.v.? what kind of person is that? But sure as shit, people are on the internet telling everyone how bad WBB is, how it was shown on Sunday afternoon to get mor eviewers, or whatever. My god, it's just disgusting.

by **Robert J Sakimano** Tue 9 Apr 2024 - 14:26

DWags wrote:
Robert J Sakimano wrote:I'm still trying to wrap my head around the type of person who is upset when something good happens to someone else.

if someone came to me and said, "dude - I just had a $25,000 medical bill that was forgiven. I owe nothing" - that would be amazing news for them and I would be so happy with regard to how that would positively impact the life of them and their family.

seems like just another area in our life where political/religious beliefs create such a divisive level of contempt for our fellow Americans.. and the division is sewn by the very people who benefit from it: politicians, religious leaders, the corporate media, and corporations.

If your friend/neighbor/someone you know wins something, gets something nice done for them in their life, or just plain gets lucky, and your first thought is how it effects you, you've been raised wrong..

Example: I can't believe how angry some people are in the twitter that Iowa womens basketball had 19 million viewers. WTF? Why would you be angry about somebody watching something on t.v.? what kind of person is that? But sure as shit, people are on the internet telling everyone how bad WBB is, how it was shown on Sunday afternoon to get mor eviewers, or whatever. My god, it's just disgusting.

yeah - just such a sad existence those folks must lead. And, yeah, it is disgusting and I do wonder about their upbringing - obviously there are some gaps somewhere in their value system. Most of all, I just feel kinda bad for them and those around them. It would be a horrible way to live.

by TravelinMan Tue 9 Apr 2024 - 14:44

DWags wrote:
TravelinMan wrote:

TBF, does ANYBODY like the bottom 30%? I mean… ew!

I’m assuming that this line was funny in your head when you wrote it.

Lighten up, Francis.

by **Motown Spartan** Tue 9 Apr 2024 - 15:47

TravelinMan wrote:
DWags wrote:

I’m assuming that this line was funny in your head when you wrote it.

Lighten up, Francis.

I’m assuming that this line was funny in your head when you wrote it.

by **DWags** Tue 9 Apr 2024 - 16:01

Motown Spartan wrote:
TravelinMan wrote:

Lighten up, Francis.

I’m assuming that this line was funny in your head when you wrote it.

by **Travis of the Cosmos** Tue 9 Apr 2024 - 19:29

Knock that shit off grr, last warning.

by **GRR Spartan** Tue 9 Apr 2024 - 22:06

Travis of the Cosmos wrote:Knock that shit off grr, last warning.

Got it.

Won’t tell you to “Lighten up Francis”

by **DWags** Tue 9 Apr 2024 - 22:29

GRR Spartan wrote:
Travis of the Cosmos wrote:Knock that shit off grr, last warning.

Got it.

Won’t tell you to “Lighten up Francis”

That sounds funny in my head. But I read it in an Elmer Fudd accent.

by **Trapper Gus** Thu 11 Apr 2024 - 11:01

The History of Student Debt

by InternetWarrior Thu 11 Apr 2024 - 14:50

Dealing right now with student loans from the uni of medicine. Someone want to sponsor me pls?

by TravelinMan Wed 24 Apr 2024 - 10:07

https://finance.yahoo.com/news/gen-xer-got-250-000-181801554.html

This is the poster boy for student loan forgiveness. Student Loans - Page 15 502811600

by **Robert J Sakimano** Wed 24 Apr 2024 - 10:19

TravelinMan wrote:https://finance.yahoo.com/news/gen-xer-got-250-000-181801554.html

This is the poster boy for student loan forgiveness.

wow - happy for that guy.

thanks for posting this, dude.

by **Trapper Gus** Wed 24 Apr 2024 - 10:20

TravelinMan wrote:https://finance.yahoo.com/news/gen-xer-got-250-000-181801554.html

This is the poster boy for student loan forgiveness.

Before the loan sharks started adding onto his student loans, I wonder how much he borrowed?

$5k ....$7k ....$9k ?

by **GRR Spartan** Wed 24 Apr 2024 - 10:24

Love the whiners who pick out an example like this.

Of course it’s the assholes in the loan business who are outraged but don’t give a shit about the elementary school teacher in a low income county who went to a public university but needs to work a couple nights a week and weekends to pay her bills

by **Robert J Sakimano** Wed 24 Apr 2024 - 10:39

GRR Spartan wrote:Love the whiners who pick out an example like this.

Of course it’s the assholes in the loan business who are outraged but don’t give a shit about the elementary school teacher in a low income county who went to a public university but needs to work a couple nights a week and weekends to pay her bills

I think one of the differences between me and republicans/libertarians is that, if that given the choice of providing relief to Wall Street or regular folks, I'll choose regular folks 100% of the time.

by TravelinMan Wed 24 Apr 2024 - 10:44

Robert J Sakimano wrote:
GRR Spartan wrote:Love the whiners who pick out an example like this.

Of course it’s the assholes in the loan business who are outraged but don’t give a shit about the elementary school teacher in a low income county who went to a public university but needs to work a couple nights a week and weekends to pay her bills
I think one of the differences between me and republicans/libertarians is that, if that given the choice of providing relief to Wall Street or regular folks, I'll choose regular folks 100% of the time.

I know nothing you say here should be taken seriously, but this is a perfect example of your misunderstanding of libertarian view points.

Democrats would give the money to our music boy in the article.

Republicans would give the money to Wall Street

Libertarians wouldn't give the money to anyone.

by Sponsored content