Home › Forums › Financial Markets/Economics › student debt forgiveness
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FlyerInHi.
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June 24, 2019 at 4:55 PM #22714June 24, 2019 at 6:27 PM #812818
spdrun
ParticipantWhat they should be doing is encouraging states to set up good/cheap public universities. If NY (one of the most expensive states in the US) can do public university for $6-7k per year or even less, so can Oklahoma.
June 24, 2019 at 6:48 PM #812819scaredyclassic
Participantit’s difficult for me to wrap my head around how this would actually work. so like everyone graduating next year and every graduate before gets everything forgiven, but everyone taking out current loans gets nothing forgiven? that seems insane.
but it would be even more insane to forgive the loans prospectively too.
you just don’t “forgive” huge loans without a compelling reason. seems much more reasonable to simply reinstate bankruptcy for student loans. then lenders will think twice. it’s all income based repayment anyway. no ones starving. it’s just inhibiting growth.
I would assume such a thing wouldn’t happen, but compared to trump being elected, it seems, well, highly plausible. I mean, a lot of people have a lot of debt. id vote for it if I had debt.
but why in the fuck did I pay cash for my kids schooling? now I still have one more year left on the middle one and 4 on the young un. should they be loading up on at least 50k in debt? if the interest is accruing in school, you’d want to have the Total balance be under 50k.
seems like a not unreasonable hedge to have some debt.
my student loan balance is 500.00. we paid off my wife’s in cash. STUPID.
why didn’t we just forgive everyone’s mortgage debt in 2008? that seems equally plausible. although a home has some value, while a college education generally, lets face it, is useless for many
June 25, 2019 at 12:34 AM #812821FlyerInHi
GuestScaredy, are you against it because you won’t benefit?
Student debt is inhibiting growth. Young people seem to be in a slump. Car ownership is decreasing. They don’t have savings to buy houses and all the money paid to rent is inhibiting consumption.
I’m very OK with the bold proposal if it gets young people to vote. Trump promised and says all kinds of shit. Just follow his example. You don’t have to be realistic. Just promise whatever to get votes and into office.
June 25, 2019 at 1:18 AM #812822an
ParticipantMortgage is inhibiting growth. Lets pay off everyone’s mortgage too. Free home for everyone. I’m down for that. It’ll definitely fix the homeless issue once and for all.
June 25, 2019 at 1:21 AM #812823Participant[quote=FlyerInHi]Trump promised and says all kinds of shit. Just follow his example. You don’t have to be realistic. Just promise whatever to get votes and into office.[/quote]Lets copy a buffoon. OMG, LoL.
June 25, 2019 at 8:08 AM #812824
CoronitaParticipant… looks like the far left have fallen off a cliff….The country is run by fridgy people on both extremes… lol …
June 25, 2019 at 9:17 AM #812825Guest[quote=flu]… looks like the far left have fallen off a cliff….The country is run by fridgy people on both extremes… lol …[/quote]
Why? It could be a brilliant strategy to get votes; then after you win, nominate the Supreme Court justices you want.
If Bernie presses the right buttons, Americans just might elect him. Good on him.
June 25, 2019 at 9:18 AM #812826The-Shoveler
ParticipantCan those who paid for their collage out of pocket get a refund?
Can I get a refund on my mortgage?
June 25, 2019 at 10:06 AM #812827carlsbadworker
Participant[quote=The-Shoveler]Can those who paid for their collage out of pocket get a refund?
Can I get a refund on my mortgage?[/quote]
Sorry, you’re out of luck for being evil rich people who like saving, unlike the rest of us.
June 25, 2019 at 10:13 AM #812828Participant[quote=AN]Mortgage is inhibiting growth. Lets pay off everyone’s mortgage too. Free home for everyone. I’m down for that. It’ll definitely fix the homeless issue once and for all.[/quote]
Amazon charges money for goods they sell is inhibiting growth. Make it free to anyone as everyone hates Jeff Bezos anyway, including his wife.
June 25, 2019 at 10:38 AM #812830Participanton the other hand, I can see the argument that banks got bailed out for making hugely bad decisions at taxpayer expense, and individual people benefitted greatly. It was done to “prop up” the system, as if the system is so weak that if it tries to correct itself, as capitalism is supposed to do, it would break?
I guess you could make the same argument on a micro scale, for individual dumb students, that was made on a macro scale for the nation, for the really dumb (or maybe smart, but at least non risk averse, banks) our system of infinite growth is in peril and we need a “reset”.
maybe it’s no different, at bottom. throwing money at a systemic problem to benefit a few at everyone’s expense to prop up a corrupt and idiotic system.
I had expected to buy my house cheaper, and I’m certain I would have, had the gov not interfered with harp or harp or whatever it was
I mean, I was pretty angry at the time at the I think 7k incentive flat tax credit given to people to buy a house by the fed gov. right after id bought a house and was ineligible for it. it’s just the difference with the student loan thing is that the problem is directly ongoing, like even the day after you cut the check, because people are still borrowing like crazy, with the expectation they’ll get a reset.
at least with Wall Street they took all the money and shut up for a while, at least till the next “emergency”.
June 25, 2019 at 10:39 AM #812831ParticipantI suppose it’s ok to just say whatever you need to to get elected.
June 25, 2019 at 10:50 AM #812832Guest[quote=scaredyclassic]I suppose it’s ok to just say whatever you need to to get elected.[/quote]
I think we need to separate getting elected and actually passing laws.
Scaredy, the financial bailout burns you. It’s a fact that it happened and you have the right to be angry. However, student loan forgiveness is just a proposal. Just take it as electioneering. Don’t worry about it until it happens.
June 25, 2019 at 10:51 AM #812829GuestI like the concept. Education feels like it should be free. It’s not like consumption of products or services you enjoy. I think there will be a lot of buy-in from young people and their parents.
Add rent control to the proposal and Bernie will get lots of votes. There should be a formula where rents are capped so people can get an apartment for 1/3 their salaries.
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