Here are key things to know as Supreme Court nears decision on Biden's student loan forgiveness
Here are key things to know as Supreme Court nears decision on Biden's student loan forgiveness
The Supreme Court is expected to issue its ruling on the Biden administration's student loan forgiveness plan this month. Anticipation for the ruling is high.
The Supreme Court is expected to issue its ruling on the Biden administration's student loan forgiveness plan this month. Anticipation for the ruling is high.
I'm not sure why anyone cares that student loans are being forgiven. It literally harms no one
In fact, in contrast to not harming people, it actually has the potential for a great boost in economic activity. Giving money/erasing debt for low income/middle income people tends to result in local spending. These people don’t hoard wealth like occurs when you give rich people or corporations tax cuts.
Yeah, but if you give things to the peons they start expecting to live a better life... and if they have better lives how can we look down on them and feel better about how superior we are?
But it helps many people, at the expense of predatory corporations, and the GQP cannot allow that.
It harms the banks, which harms rich people, which harms politicians because rich people threaten.. er, lobby them concerning campaign donations, SCOTUS has shown repeatedly in the last 2 years that they're firmly in the pocket of a certain political party with rulings which enable them so they wine and dine Clarence Thomas and the rest (Google "Clarence Thomas corruption")
If you think any of this has to do with how your life might improve you've not been paying attention.
Aside from the "it's not fair" argument (which IS a fair argument), my reason for being against debt forgiveness is that it hurts everyone, especially future generations.
The cost of colleges has exploded at least in part due to the federal government subsidizing the cost. If a thing costs $10, and the government promises to pay for $5 of it, then without price controls that thing tends to increase to costing $15.
Now if we have a federal government that has opened the door to paying off thousands of dollars in loans? Schools are going to get massively more expensive.
Not only does it not fix the problem, it is actively making the problem worse for future generations.
I think there's also some merit to the idea that people with college degrees are generally more well-off than those without. Being "poor" because you make six figures but have a lot of debt is a VERY different situation than being poor because you just don't have any money. I think the money allocated to paying off student loans could go to people who need it much more. Like people who never even had the opportunity to go to college.
The whole concept is a very "fuck you, I got mine" idea, something we millennials have always criticized boomers for. But now we're doing it, in a big way.
I support student loan forgiveness; however, not addressing the root problem only kicks the can down the road. What is the government doing to prevent this same situation from happening again in 5-10 years?
Nothing. Then again the government isn't doing the forgiveness either. Until Congress is no longer dead set on trying to increase everyone's suffering, nothing will be done.
If nothing else, student loans should no longer be exempt from bankruptcy. Makes no sense that any basically any debt can be forgiven except that one specific type for some reason.
The "key things to know"
- SCOTUS decision expected this month
- President's power to cancel debt is in question
- The plaintiffs may not have standing
I wish I could have gotten ppp money to pay off my student loans.
I lived a very meager lifestyle until I paid my student loans. If student loans are forgiven, I want my $50k back. Thanks in advance.
I can understand that sentiment, sucks to have paid it off and then watch other people get it wiped out. However, wouldn't you it be great for others to not have to go through what you went through, regardless of your sunk cost? Can't we all just empathize and accept that sometimes life sucks but we can correct it mistakes for others moving forward?
wouldn't you it be great for others to not have to go through what you went through, regardless of your sunk cost?
That sounds more like fixing the root cause: the high prices. Not a one time payout to whoever is lucky enough to owe a lot of money at the time of forgiveness.
If you want to be angry, then be angry at the PPP loans that were just forgiven. They sum to a much higher amount than and student loan forgiveness plan.
I hear this a lot but I think this is a bad faith argument.
People took out student loans with the knowledge that they'd have to pay them back.
Businesses took out PPP loans with the knowledge that they'd be forgiven if certain conditions were met.
I do think people should be angry that PPP loans were issued and forgiven under conditions that practically begged for fraud. The complete lack of accountability and oversight of so much money is mind boggling and infuriating.
I paid mine off too, but I don't wish that for others. Hell forgive them all imo.
I don't understand these bitter people who don't want anyone else to have anything better in their lives. Well done paying off your debt, perhaps you did it in times when it was easier to pay off the loan, so is it fair that people have to pay off the loan in worse times still? The fairness argument is completely flawed.
I have a huge mortgage. If everyone else had their mortgages forgiven, I wouldn't piss and moan on the internet, I'd be happy for my fellow humans that their lives got better.
If you want more 'fairness' in the world, maybe start working in a homeless shelter, or volunteer in mental health services.
So did I and judging from your amount you likely went to school around when I did. Im completely fine with the foregiveness because I know I could never have come back from the load of debt required now. Im pretty sure I would not have gone to college if I was not an Xer.