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re: Biden mulls forgiving $10,000 in student loans per borrower
Posted on 4/29/22 at 1:07 pm to jatilen
Posted on 4/29/22 at 1:07 pm to jatilen
Hahah what a joke most of the young white liberals drowning in student loan debt likely borrowed $30-40k per semester for that worthless gender studies degree
This post was edited on 4/29/22 at 1:07 pm
1
Posted on 4/29/22 at 1:10 pm to beebefootballfan
quote:
I am not positive, but I think anybody who has a Fed Loan is the only ones who will be forgiven as those are government loans.
Somebody who has a private loan via a bank is SOL.
My student loans are at a stupid low interest rate (sub 2 percent) so I am in no rush to pay off.
My student loans are government-guaranteed but not government owned. Therefore, I did not qualify for the 2 plus years of no payments / no interest.
My assumption, thus, is the only loans that will have 10K forgiven are the ones owned by the feds... so the banks won't be out any money.
They will just make a big ole Adjusting Journal Entry on the government balance sheet... Debit Forgiveness non-cash expense, Credit Student Loan Receivable
Posted on 4/29/22 at 1:10 pm to bayoudude
Let me guess, people who dont pay taxes or of a certain race or who dont work get this, normal middle class are out of luck. And just for the record I'm against this BS but thats what they will try to do.
Posted on 4/29/22 at 1:11 pm to NIH
quote:yah that's a misprint
quote:
Mulls
Lmao
Obama is doing the mulling - and having a looksee at all those weaponized government agencies he has for attacking opponents and other AMERICANS
LOIS LERNER was the canary in the coal mine - died deader than a door knob
This post was edited on 4/29/22 at 1:12 pm
Posted on 4/29/22 at 1:11 pm to jatilen
Just bullshite.
Vote buying at its most basic level.
Vote buying at its most basic level.
Posted on 4/29/22 at 1:12 pm to TrueTiger
quote:
the debt wouldn't be eliminated,
it would just be shifted to other people
In theory, every month the government receives payments on the student loans it owes... and that cash is then spent in other areas.
For 2 plus years that money hasn't come in... so the government hasn't had that cash to spend... so they just borrow more money to replace that lack of cash inflow.
They will continue to do the same if these are forgiven.
So yes... deficits / debt will increase... but it's clear neither party cares about increasing deficits / debt.
Posted on 4/29/22 at 1:13 pm to LSUFanHouston
I always enjoy your posts.
Posted on 4/29/22 at 1:25 pm to jatilen
funny thing is...this will piss off everyone
This post was edited on 4/29/22 at 1:56 pm
Posted on 4/29/22 at 1:27 pm to jatilen
So do I get $10 grand since I have no student loans?
I think Republicans could win on this issue with a counter proposal of 'education tax credits' which can be applied against tax liability or student loans, saved to a 529, or refunded for limited purpose items like postsecondary/vocational school costs or starting a business.
To pay for it, get rid of earned income tax credit (you can broaden the items the education credit can be used for for people with incomes that would have qualified for EITC as a bargaining chip), end the mortgage interest deduction, end the student loan interest deduction, and eliminate SALT deductions.
Everyone gets the benefit. Nobody is punished for responsibility, and nobody is rewarded for default. You know... equity.
I think Republicans could win on this issue with a counter proposal of 'education tax credits' which can be applied against tax liability or student loans, saved to a 529, or refunded for limited purpose items like postsecondary/vocational school costs or starting a business.
To pay for it, get rid of earned income tax credit (you can broaden the items the education credit can be used for for people with incomes that would have qualified for EITC as a bargaining chip), end the mortgage interest deduction, end the student loan interest deduction, and eliminate SALT deductions.
Everyone gets the benefit. Nobody is punished for responsibility, and nobody is rewarded for default. You know... equity.
Posted on 4/29/22 at 1:28 pm to udtiger
It will. Just enough to piss off people who got nothing for the loans they paid back as promised, or people who never had loans. But nowhere near enough to make a dent in most people’s loan balance.
Oh and don’t forget to report that $10k in extra income on your tax return if they do this!
Oh and don’t forget to report that $10k in extra income on your tax return if they do this!
Posted on 4/29/22 at 1:32 pm to jatilen
I wonder how long its going to take those nazi’s who support him to realize their sofi student loan isnt included in the federal student loan debt forgiveness.
Posted on 4/29/22 at 1:36 pm to Bearcat90
quote:
Do all of us that already paid ours off get a Big Check too?
Or what about those of us who worked and saved our money to pay for school so we didn’t have to take out any student loans….we get a refund check right?
Posted on 4/29/22 at 1:36 pm to LSUnation78
Not until after their vote has been bought this year. But also well in advance of 2024 election season.
Posted on 4/29/22 at 1:38 pm to the808bass
quote:
Just bullshite.
Vote buying at its most basic level.
Yeah and Biden ran his mouth promising he would do it if elected. AOC, Warren, Bernie have been holding his feet to the fire to make good on the promise.
Posted on 4/29/22 at 1:40 pm to elposter
quote:our govt doesn't print money. The federal reserve is a private bank. they print currency, not money. one can't possible understand the corruption we have without knowing the difference between money and currency.
Government can just print more money to pay the banks, dummy.
Posted on 4/29/22 at 1:46 pm to arcalades
All for this now that I just put a ring in a girl who is $30k in debt.
Posted on 4/29/22 at 1:47 pm to jatilen
How about forgiving the LAST $10,000 of all the loans of one person?
Posted on 4/29/22 at 1:50 pm to jatilen
He's such a poli whore. It's clearly a hail Mary ahead of mid-terms. Literal vote buying but it won't be enough for the crowd he's trying to buy. $10,000 barely covers 1 year of tuition.
Posted on 4/29/22 at 1:53 pm to jatilen
Am I the only one wondering why the article doesn't estimate how much the total would be? (yeah I know why)
Posted on 4/29/22 at 2:19 pm to jatilen
quote:
President Biden is considering forgiving at least $10,000 in student loan debt per borrower, two sources familiar told The Hill.
Fail to see how that’s life changing to anyone.
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