Student loan cancellation
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I do feel bad for the kids. They don’t really get it yet. I mean, Lucas got the economics of everything and rationally he knew that this program could ultimately cost him more than it gave him, on an emotional level these kids thought $10-20K in debt was about to be wiped out and now it’s not.
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@Mik said in Student loan cancellation:
At this point Biden doesn't care whether its implemented or not. he can claim he fulfilled his promise and if it gets overturned the GOP is to blame.
Yep. That’s the bitch of it.
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Yeah, especially since they banked it mentally.
It’s one thing for the Dems to say “your loans would be forgiven if it weren’t for these damn republicans voting against it”. It’s another if they get it and plan around having it for four months and the the GOP takes it out of their hands.
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If Congressional R’s were smart, they would start working on some comprehensive student loan reform that did include some sort of relief and would have lasting benefit.
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Stop Interest Capitalization on Federally Subsidized Loans. Forbid capitalization on private loans from Approved Lenders.
Cap interest rates from approved lenders at 10%
Make student debt interest dischargeable in bankruptcy.
Revamp the GI Bill, include some non-military options and promote retroactive options… Just graduated from with a bachelors in engineering but buried in debt already? Welcome to the Army Corps of Engineers… We’ll pay off your debt and you will make a living. Hell, we’ll even help with graduate school… Today’s military needs college grads more than high school grads…
Expand the Pell Grant program income eligibility and amounts for students going to 2 year trade schools. Push the hell out of that program.
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And yes, forgive student loans that have paid as much in interest as they have in principle.
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@LuFins-Dad said in Student loan cancellation:
If Congressional R’s were smart, they would start working on some comprehensive student loan reform that did include some sort of relief and would have lasting benefit.
Hate to break it to you….
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@LuFins-Dad said in Student loan cancellation:
Stop Interest Capitalization on Federally Subsidized Loans. Forbid capitalization on private loans from Approved Lenders.
Cap interest rates from approved lenders at 10%
Make student debt interest dischargeable in bankruptcy.
Revamp the GI Bill, include some non-military options and promote retroactive options… Just graduated from with a bachelors in engineering but buried in debt already? Welcome to the Army Corps of Engineers… We’ll pay off your debt and you will make a living. Hell, we’ll even help with graduate school… Today’s military needs college grads more than high school grads…
Expand the Pell Grant program income eligibility and amounts for students going to 2 year trade schools. Push the hell out of that program.
Honestly #3 solves the debt problem moving forward. #5 is just good policy, period.
DON’T let them eat cake.
- RFK Jr -
@jon-nyc said in Student loan cancellation:
@LuFins-Dad said in Student loan cancellation:
Stop Interest Capitalization on Federally Subsidized Loans. Forbid capitalization on private loans from Approved Lenders.
Cap interest rates from approved lenders at 10%
Make student debt interest dischargeable in bankruptcy.
Revamp the GI Bill, include some non-military options and promote retroactive options… Just graduated from with a bachelors in engineering but buried in debt already? Welcome to the Army Corps of Engineers… We’ll pay off your debt and you will make a living. Hell, we’ll even help with graduate school… Today’s military needs college grads more than high school grads…
Expand the Pell Grant program income eligibility and amounts for students going to 2 year trade schools. Push the hell out of that program.
Honestly #3 solves the debt problem moving forward. #5 is just good policy, period.
Just to make sure you caught it, #3 is not to make student debt dischargeable, just the interest. Willing to consider making the debt dischargeable, though.
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Payback moratorium extended.
The Biden administration announced Tuesday that it would extend the payment pause on federal student loans, as President Joe Biden’s debt cancellation plan remains blocked in court.
The payment pause, which was previously set to expire in January, will be extended until June 30 or until the litigation is resolved — whichever comes first. If the litigation has not been resolved by June 30, payments will resume 60 days after that.
“I’m completely confident that my plan is legal,” Biden said in a video announcement. “But it isn’t fair to ask tens of millions of borrowers eligible for relief to resume their student debt payments while the courts consider the lawsuit.”
"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:
“I’m completely confident that my plan is legal,” Biden said in a video announcement. “But it isn’t fair to ask tens of millions of borrowers eligible for relief to resume their student debt payments while the courts consider the lawsuit.”
I wonder if he really thinks this will get through the court, or if he's just keeping his game face on. I'm guessing the latter.
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@LuFins-Dad said in Student loan cancellation:
Lucas got the economics of everything and rationally he knew that this program could ultimately cost him more than it gave him, …
Of course it “could” as a matter of possibility, just like buying a lottery “could” make you rich or using a condom “could” still get you STDs. But what’s the likelihood of it happening? How does Lucas think through how likely it is that his student loan being forgiven will ultimately cost him more?
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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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@jon-nyc said in Student loan cancellation:
@George-K said in Student loan cancellation:
“I’m completely confident that my plan is legal,” Biden said in a video announcement. “But it isn’t fair to ask tens of millions of borrowers eligible for relief to resume their student debt payments while the courts consider the lawsuit.”
I wonder if he really thinks this will get through the court, or if he's just keeping his game face on. I'm guessing the latter.
Me too. You can't spend billions of unallocated dollars just by sayso.
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@George-K said in Student loan cancellation:
SCOTUS grants cert...
Would shock me if they don't whack it.
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@George-K said in Student loan cancellation:
SCOTUS grants cert...
Which suit? The states? Or the Texas case?
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They'll be combined I'm sure in a single oral argument and decision.
DON’T let them eat cake.
- RFK Jr
