Student loan cancellation
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@George-K said in Student loan cancellation:
Missouri Republican Senator Josh Hawley introduced the “Make the Universities Pay Act” on Sept. 21 in the wake of President Joe Biden’s announcement that taxpayers will absorb student loan debt to the tune of at least $400 billion, estimated to cost individual American taxpayers $2,500 each.
“For decades, universities have amassed billion-dollar endowments while teaching nonsense like men can get pregnant. All while charging extortionary tuition,” Senator Hawley stated in a news release.
“Now Joe Biden wants to give away another $1 trillion to prop up the system. That’s wrong. Instead, it’s time to put universities on the hook and give students the information they need to make informed decisions.”
The bill would also qualify student loan debt to be discharged in bankruptcy. Currently, the only debts that are dischargeable include credit card balances, medical bills, personal loans, unpaid utilities and phone bills.
Under Hawley’s six-page proposal, colleges also could not raise tuition to remedy the new expense if approved. The bill prohibits tuition and fee increases unless there is an equivalent percentage decrease in administrative expenses.
Making student loans dischargeable in bankruptcy is appropriate and the best possible reform. Everything else I read there is hyperbole and in some ways counterproductive.
Let the banks have to actually take a risk on each college loan. This will lower the number and amounts of loans given and will necessitate tuition and educational reform from the schools themselves.
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Education is extremely important.
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It is not accurate to say that student loan cannot be discharged in bankruptcy today, there is still a provision in current law that allows student loan to be discharged in bankruptcy where “undue hardship” can be proven.
Since 1976, there have been many revisions to the law that governs student loans with regards to bankruptcy. Someone put together a nice article around this:
https://www.tateesq.com/learn/student-loan-bankruptcy-law-history
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Why are student loans exempt from bankruptcy? Student loans are exempt from bankruptcy because many politicians feared that young people would borrow substantial sums to pay for college and then discharge their student loans in bankruptcy right after graduation. As a result, starting in the early 1970s, Congress began changing the bankruptcy laws to require a borrower to prove undue hardship before she could discharge her student loan debt.
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Always remember, Operation Valkyrie was an act of sedition.
Warning: I post things that interest me. Read and comment at your own discretion. -
@Jolly said in Student loan cancellation:
@jon-nyc said in Student loan cancellation:
@Horace Don’t know about consensus but PD chimed in next door when this first came out.
Ah, the man who never met a conservative idea or a Republican he liked...
Self described middle grounders who will never again publicly support a Republican presidential candidate are pretty common around these piano forums. If one were cynical, one might describe such people as social opportunists who will, in all meaningful tests of cultural affiliation, side with the mainstream mob in power.
If the Republicans became the choice of pop culture, where careers or social standing in general could be advanced by publicly making noises to affiliate with them, these people would reliably make those noises.
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Always remember, Operation Valkyrie was an act of sedition.
Warning: I post things that interest me. Read and comment at your own discretion. -
@Jolly said in Student loan cancellation:
Dunno.
I've seen enough of PD's comments to know he hates conservatives.
The hatred is a feature of the personality type. The target of the hatred is an accident of whatever culture the person lives in. It could just as easily been the left. But yes at some point the targets of the hatred become crystallized. There is no world in which certain personalities do not end up hating, though.
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DON’T let them eat cake.
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@jon-nyc said in Student loan cancellation:
Must be strange to think that opinions that differ from your own require some sort of pathopsychological explanation. That was even true of your pre-tribal self.
Jon, you're full of shit. You see everything through a pseudo-intellectual tribal theme. I happen to be a bit more nuanced and believe people actually think and act for themselves.
Ever notice Jodi's posting patterns? She's a far from my politics as East is from West. But I don't think the woman has a hateful bone in her body.
PD is a hateful asshole, who does not value the people he politically disagrees with, though through the years many of those people have coughed up enough tuition to make up part of his paycheck.
And you, bubba, with your high-minded, snot-tracks-on-the-ceiling, better than the great unwashed throngs of MAGATs, will one day be just worm food, trying to explain to an unmerciful God (because Mercy time is over) just why you were so damn smart you spit in his general direction. Of course, maybe I'm wrong about that God stuff and we'll just be worm food together, but at least I'll have the satisfaction of going to my grave not painting great swaths of the American public as beyond the pale. I may think that as a group they are ignorant of logic or they do stupid things, but I don't stoop to the level you do at times.
I asked you the other day if you would accept charitable contributions from MAGATs and you noted that of course you would. You hypocritical SOB. Anybody I hated that much, I certainly wouldn't take money from them...That bespeaks too much of monetary whoredom.
You can do better. Try.
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@jon-nyc said in Student loan cancellation:
That was a response to Horace. Your earlier comments about PD were more straightforward, you didn't attempt psychoanalysis of any sort. Besides, you had no pre-tribal self, Jolly.
You mean I wrote a great rant for nothing?
Some days...
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@jon-nyc said in Student loan cancellation:
That was a response to Horace. Your earlier comments about PD were more straightforward, you didn't attempt psychoanalysis of any sort. Besides, you had no pre-tribal self, Jolly.
It is objective fact that he displays his political hatreds on his sleeve, proudly. His psychology is a topic of discussion by virtue of that.
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Student loan forgiveness application now live.
Online application available at https://studentaid.gov/debt-relief/application
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"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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@George-K said in Student loan cancellation:
Surprised that there's been no temporary injunction.
Yeah, well, Republicans could try to stop it oooorrrr they could use it as an election issue for midterms. Motherfuckers…
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@George-K said in Student loan cancellation:
Surprised that there's been no temporary injunction.
Nobody has standing to take it to court. That one IN plaintiff’s case that we discussed here was made moot by a tweak in the exec order to make it optional. Another tweak we discussed here excluded a chunk of loans over which some banks would have a good standing claim.
The administration knows this wouldn’t withstand a court challenge, so they’re preventing them.
DON’T let them eat cake.
- RFK Jr -
"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
