Friday SCOTUS - Student Loan Forgiveness
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@Jolly said in Friday SCOTUS:
BTW, student loan issue was a no brainer from the start. Shows just how far the Dems will go to hang on to power.
“Student loan relief is a promise from President Biden to more than 40 million families. It is our chance for dignity,” said Melissa Byrne, executive director of We The 45 Million, which has pushed for debt cancelation. “He must immediately implement a plan B including finding a different path to ensure no repayment begins until cancellation is delivered.”
The sure-fire way legally to achieve the same goal – forgiving up to $20,000 in student loan debt for low- and middle-income households – would be for Congress to act.
But Biden lacks the votes for legislative action.
Both bodies of Congress − including the Democratic-controlled Senate − voted to repeal Biden’s student loan forgiveness action,
https://www.usatoday.com/story/news/education/2023/06/07/biden-veto-bill-student-loan/70280944007/of Biden to keep his plan alive before the court’s decision.@George-K said in Friday SCOTUS - Student Loan Forgiveness:
@Jolly said in Friday SCOTUS:
BTW, student loan issue was a no brainer from the start. Shows just how far the Dems will go to hang on to power.
“Student loan relief is a promise from President Biden to more than 40 million families. It is our chance for dignity,” said Melissa Byrne, executive director of We The 45 Million, which has pushed for debt cancelation. “He must immediately implement a plan B including finding a different path to ensure no repayment begins until cancellation is delivered.”
loan/70280944007/~~ of Biden to keep his plan alive before the court’s decision.-
Dignity? Having your loans forgiven is dignified?
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No repayment begins before cancellation is given? I don’t think that’s possible. It’s written into the law that repayment cannot be postponed beyond October. Otherwise the budget deal is null and void.
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They'd be much better off spending the money on expanding the opportunities for lower-cost, high quality higher education.
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They'd be much better off spending the money on expanding the opportunities for lower-cost, high quality higher education.
@Doctor-Phibes said in Friday SCOTUS - Student Loan Forgiveness:
They'd be much better off spending the money on expanding the opportunities for lower-cost, high quality higher education.
Yeah, I imagine half a trillion dollars might go a long way.
Another point...
The loan forgiveness is, for most, $10,000. Is that amount of debt-relief "life-changing?" Granted, it's nice, but...it's not a huge amount of money. I suppose, with interest it adds up, tho.
"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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@Doctor-Phibes said in Friday SCOTUS - Student Loan Forgiveness:
They'd be much better off spending the money on expanding the opportunities for lower-cost, high quality higher education.
Yeah, I imagine half a trillion dollars might go a long way.
Another point...
The loan forgiveness is, for most, $10,000. Is that amount of debt-relief "life-changing?" Granted, it's nice, but...it's not a huge amount of money. I suppose, with interest it adds up, tho.
@George-K said in Friday SCOTUS - Student Loan Forgiveness:
The loan forgiveness is, for most, $10,000. Is that amount of debt-relief "life-changing?" Granted, it's nice, but...it's not a huge amount of money. I suppose, with interest it adds up, tho.
Based on my loan estimates, it probably saves about $20K total with the saved interest.
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@George-K said in Friday SCOTUS - Student Loan Forgiveness:
The loan forgiveness is, for most, $10,000. Is that amount of debt-relief "life-changing?" Granted, it's nice, but...it's not a huge amount of money. I suppose, with interest it adds up, tho.
Based on my loan estimates, it probably saves about $20K total with the saved interest.
@Doctor-Phibes said in Friday SCOTUS - Student Loan Forgiveness:
@George-K said in Friday SCOTUS - Student Loan Forgiveness:
The loan forgiveness is, for most, $10,000. Is that amount of debt-relief "life-changing?" Granted, it's nice, but...it's not a huge amount of money. I suppose, with interest it adds up, tho.
Based on my loan estimates, it probably saves about $20K total with the saved interest.
If they pay in a reasonable time and have selected a payment plan that is paying the interest and the principal. Many choose repayment plans that do not even cover the interest, meaning the interest capitalizes at the end of the year and is added to balance, raising the amount of interest due next year. In the end they are forced into civil service jobs for the Public Service Loan Forgiveness.
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Someone attempted to point out the hypocrisy of Kavanaugh. Apparently, he had a substantial amount of debt (credit card and others) that was forgiven. He voiced no complaint at that time.
AFAIK, that debt wasn't paid with taxpayer funds, was it?
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Someone attempted to point out the hypocrisy of Kavanaugh. Apparently, he had a substantial amount of debt (credit card and others) that was forgiven. He voiced no complaint at that time.
AFAIK, that debt wasn't paid with taxpayer funds, was it?
@George-K said in Friday SCOTUS - Student Loan Forgiveness:
Someone attempted to point out the hypocrisy of Kavanaugh. Apparently, he had a substantial amount of debt (credit card and others) that was forgiven. He voiced no complaint at that time.
AFAIK, that debt wasn't paid with taxpayer funds, was it?
According to google, his disappeared debt is little more than a conspiracy theory meant to damage him politically. In any case, it has nothing to do with governmental debt forgiveness.
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@Doctor-Phibes said in Friday SCOTUS - Student Loan Forgiveness:
They'd be much better off spending the money on expanding the opportunities for lower-cost, high quality higher education.
Yeah, I imagine half a trillion dollars might go a long way.
Another point...
The loan forgiveness is, for most, $10,000. Is that amount of debt-relief "life-changing?" Granted, it's nice, but...it's not a huge amount of money. I suppose, with interest it adds up, tho.
@George-K said in Friday SCOTUS - Student Loan Forgiveness:
@Doctor-Phibes said in Friday SCOTUS - Student Loan Forgiveness:
They'd be much better off spending the money on expanding the opportunities for lower-cost, high quality higher education.
Yeah, I imagine half a trillion dollars might go a long way.
Another point...
The loan forgiveness is, for most, $10,000. Is that amount of debt-relief "life-changing?" Granted, it's nice, but...it's not a huge amount of money. I suppose, with interest it adds up, tho.
Only if you’re stupid enough to pay the minimum, just like credit cards. My daughter has $40k in grad school loans. One of the conversations we will have this week is why it is important to pay it off as fast as possible.
“I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill
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@LuFins-Dad ( P)resident uniter.
@George-K said in Friday SCOTUS - Student Loan Forgiveness:
@LuFins-Dad ( P)resident uniter.
The reporter brings up a good point. Biden himself has stated the President does NOT have that type of power. He knew when this started that it wasn’t going to fly. He did capriciously give false hope to millions of Americans, most of whom are now angry at the wrong people…
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@George-K said in Friday SCOTUS - Student Loan Forgiveness:
@Doctor-Phibes said in Friday SCOTUS - Student Loan Forgiveness:
They'd be much better off spending the money on expanding the opportunities for lower-cost, high quality higher education.
Yeah, I imagine half a trillion dollars might go a long way.
Another point...
The loan forgiveness is, for most, $10,000. Is that amount of debt-relief "life-changing?" Granted, it's nice, but...it's not a huge amount of money. I suppose, with interest it adds up, tho.
Only if you’re stupid enough to pay the minimum, just like credit cards. My daughter has $40k in grad school loans. One of the conversations we will have this week is why it is important to pay it off as fast as possible.
@Mik said in Friday SCOTUS - Student Loan Forgiveness:
@George-K said in Friday SCOTUS - Student Loan Forgiveness:
@Doctor-Phibes said in Friday SCOTUS - Student Loan Forgiveness:
They'd be much better off spending the money on expanding the opportunities for lower-cost, high quality higher education.
Yeah, I imagine half a trillion dollars might go a long way.
Another point...
The loan forgiveness is, for most, $10,000. Is that amount of debt-relief "life-changing?" Granted, it's nice, but...it's not a huge amount of money. I suppose, with interest it adds up, tho.
Only if you’re stupid enough to pay the minimum, just like credit cards. My daughter has $40k in grad school loans. One of the conversations we will have this week is why it is important to pay it off as fast as possible.
I’m not going to say “stupid enough”… Sally Mae is a predatory lender. The things they pull are illegal in other banking/credit/loan industries and they do take advantage of kid’s naïveté. They do not list on their portal what the monthly interest accrual is, there is no amortization table given, and they try to recommend payback plans that don’t cover the interest to let it capitalize. Beyond that, they repeatedly solicit the kids to take out more in their loan to cover computers, cars, and even off campus housing.
I’m glad this was overturned, but it’s time the two most significant problems in student debt are addressed. Administrative bloat at the universities and predatory loan practices for the student. We also need to address the Pell Grant. I really think they need to applucable only for Community Colleges or Trade Schools for the first two years following HS. They can be applied to a 4 year school after you have shown an ability to maintain a 2.0 GPA for two years. It will set more kids up for greater success. And they need to promote that the grants can be used for plumbing school, nursing school, HVAC, and other 2 year degree programs.
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@Mik said in Friday SCOTUS - Student Loan Forgiveness:
@George-K said in Friday SCOTUS - Student Loan Forgiveness:
@Doctor-Phibes said in Friday SCOTUS - Student Loan Forgiveness:
They'd be much better off spending the money on expanding the opportunities for lower-cost, high quality higher education.
Yeah, I imagine half a trillion dollars might go a long way.
Another point...
The loan forgiveness is, for most, $10,000. Is that amount of debt-relief "life-changing?" Granted, it's nice, but...it's not a huge amount of money. I suppose, with interest it adds up, tho.
Only if you’re stupid enough to pay the minimum, just like credit cards. My daughter has $40k in grad school loans. One of the conversations we will have this week is why it is important to pay it off as fast as possible.
I’m not going to say “stupid enough”… Sally Mae is a predatory lender. The things they pull are illegal in other banking/credit/loan industries and they do take advantage of kid’s naïveté. They do not list on their portal what the monthly interest accrual is, there is no amortization table given, and they try to recommend payback plans that don’t cover the interest to let it capitalize. Beyond that, they repeatedly solicit the kids to take out more in their loan to cover computers, cars, and even off campus housing.
I’m glad this was overturned, but it’s time the two most significant problems in student debt are addressed. Administrative bloat at the universities and predatory loan practices for the student. We also need to address the Pell Grant. I really think they need to applucable only for Community Colleges or Trade Schools for the first two years following HS. They can be applied to a 4 year school after you have shown an ability to maintain a 2.0 GPA for two years. It will set more kids up for greater success. And they need to promote that the grants can be used for plumbing school, nursing school, HVAC, and other 2 year degree programs.
@LuFins-Dad said in Friday SCOTUS - Student Loan Forgiveness:
I’m glad this was overturned, but it’s time the two most significant problems in student debt are addressed. Administrative bloat at the universities and predatory loan practices for the student. We also need to address the Pell Grant. I really think they need to applucable only for Community Colleges or Trade Schools for the first two years following HS. They can be applied to a 4 year school after you have shown an ability to maintain a 2.0 GPA for two years. It will set more kids up for greater success. And they need to promote that the grants can be used for plumbing school, nursing school, HVAC, and other 2 year degree programs.
Pretty much. The only change I would make, would be to tie the ACT or SAT to the Pell Grant...If your ACT or SAT is above a certain number, you can use the Pell Grant for your choice of trade school, community college or four year university.
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@Mik said in Friday SCOTUS - Student Loan Forgiveness:
Yeah, good luck getting that through the House.
AOC was on the Sunday gabfest complaining that "something needs to be done."
To a co-equal branch of government. I suppose SCOTUS could be expanded to suit her tastes, but all the other BS? She's just yelling for the sake of the base.
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Yes. Either get it through Congress or forget about it. Upset because a majority of Congressmen disagree? Suck it up, Buttercup.
@Mik said in Friday SCOTUS - Student Loan Forgiveness:
Yes. Either get it through Congress or forget about it. Upset because a majority of Congressmen disagree? Suck it up, Buttercup.
Buttercup wasn’t the B word I heard in my head reading this.
