Historic Student Loan Relief
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Re: Historic Student Loan Relief
Have we fallen into a mesmerized state that makes us accept as inevitable that which is inferior or detrimental, as though having lost the will or the vision to demand that which is good?
Re: Historic Student Loan Relief
The typical portions that are "forgivable" had to be used for a specific things, primarily (the intent, at least) paychecks for the employees. Which was a way to help reduce the number of people going on unemployment, since that was obviously sky high at that time. So either way, a lot of that money was going to get "handed out" by the government, one way or another.StayCurious wrote: ↑Fri Nov 11, 2022 1:42 pmCan't say I disagree in principle. But the problem is, we bail out banks and people who knew they were not going to pay back their ppp loans. The other major issue is that college is backed by government loans. Take that away and the price will come back to normal.randylahey wrote: ↑Fri Nov 11, 2022 1:39 pm I dont think there should be any loan forgiveness. Why should people who didn't take out loans have to pay for it? You chose to take out a loan. Nobody forced you to. Figure out a way to pay it back
What we could do that actually makes sense moving forward is get education costs down. College prices has inflated more than anything over the past few decades
The application approval process for PPP loans was not exactly easy imo.
https://home.treasury.gov/system/files/ ... et-508.pdf
Re: Historic Student Loan Relief
The banks paid back their loansStayCurious wrote: ↑Fri Nov 11, 2022 1:42 pmCan't say I disagree in principle. But the problem is, we bail out banks and people who knew they were not going to pay back their ppp loans. The other major issue is that college is backed by government loans. Take that away and the price will come back to normal.randylahey wrote: ↑Fri Nov 11, 2022 1:39 pm I dont think there should be any loan forgiveness. Why should people who didn't take out loans have to pay for it? You chose to take out a loan. Nobody forced you to. Figure out a way to pay it back
What we could do that actually makes sense moving forward is get education costs down. College prices has inflated more than anything over the past few decades
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Re: Historic Student Loan Relief
Did they return the money back to those who lose their retirement due to the MBS bonds?
Re: Historic Student Loan Relief
I mean... Yes? That was the point of bailing out the banks. Stop the downward spiral. And the markets recovered. If someone had their entire retirement in mortgage backed securities that close to retirement age, that's on them. And that's why we have social security - helps provide for people even if they make stupid decisions.
Re: Historic Student Loan Relief
I can't tell psych from Ous. Horseshoe theory strikes again.
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Re: Historic Student Loan Relief
I think Ous and I have a lot of similar things that bother us about society. Our solutions are likely very different though.
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Re: Historic Student Loan Relief
today’s the day, right?
Have we fallen into a mesmerized state that makes us accept as inevitable that which is inferior or detrimental, as though having lost the will or the vision to demand that which is good?
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Re: Historic Student Loan Relief
at least for the time being
i’m curious to see what the actual response from the administration is…not just their prepared statements
Have we fallen into a mesmerized state that makes us accept as inevitable that which is inferior or detrimental, as though having lost the will or the vision to demand that which is good?
Re: Historic Student Loan Relief
Seems like a good investment in human capital to waive this. Tuition has gone up for all non legacy Ivy Leaguers.
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Re: Historic Student Loan Relief
here’s an idea: how about relief for those who’ve already paid off their principal?
Have we fallen into a mesmerized state that makes us accept as inevitable that which is inferior or detrimental, as though having lost the will or the vision to demand that which is good?
Re: Historic Student Loan Relief
thats more reasonableKUTradition wrote: ↑Fri Jun 30, 2023 4:26 pm here’s an idea: how about relief for those who’ve already paid off their principal?
can I do that too with my loans? haha
Just Ledoux it
Re: Historic Student Loan Relief
I don’t think kcrim ( well Randy and Mich obvi ) would agree with my opinions on the latest couple Supreme Court rulings.
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Re: Historic Student Loan Relief
i guess i see both sides here
i fully understand, and appreciate even, people needing to take responsibility for their decisions and agreements
that said, from both personal experience and watching friends/colleagues, i’m definitely of the opinion that getting loans was silly easy (at least in these anecdotal situations)…to the point where i do think they could be considered predatory
regardless of potential relief, the system needs to change
i fully understand, and appreciate even, people needing to take responsibility for their decisions and agreements
that said, from both personal experience and watching friends/colleagues, i’m definitely of the opinion that getting loans was silly easy (at least in these anecdotal situations)…to the point where i do think they could be considered predatory
regardless of potential relief, the system needs to change
Have we fallen into a mesmerized state that makes us accept as inevitable that which is inferior or detrimental, as though having lost the will or the vision to demand that which is good?
Re: Historic Student Loan Relief
Absolutely the system needs change.
Re: Historic Student Loan Relief
The free market should take care of this. College education is no longer worth the price for many jobs. Employers who stop requiring college degrees will do better because they get a wider selection of candidates. Colleges will need to become more affordable or die out.
Paying the debts of those who knowingly took loans isn't the answer. It's a gamble to take a loan to go to college. I don't want to pay the debt of those who lost on that gamble.
Paying the debts of those who knowingly took loans isn't the answer. It's a gamble to take a loan to go to college. I don't want to pay the debt of those who lost on that gamble.
Re: Historic Student Loan Relief
Federal student loans interest for current and future loans need to be set at the absolute bare minimum on a conservative ( or non conservative depending on your definition ) guesstimate ( ie a greater chance that the government would slightly loose money on the loans than make it ) to keep up with inflation. Any current loan a student has that has a higher rate than that should have the opt in to get to that lower rate and you could fix into that rate. So we are talking ballpark 2 percent loans.
I agree that students made these decisions so they should have to pay the loans back but the predatory part of the loans, the interest, should be minimized/eliminated.
I agree that students made these decisions so they should have to pay the loans back but the predatory part of the loans, the interest, should be minimized/eliminated.