Political Discussion

That’s an interesting point.

As for the forgiveness package itself, I’m glad some people are getting all or most of their debt wiped. Unfortunately for my family this announcement barely dents our balances. My wife and I both graduated from law school almost 10 years ago and together we make about $100,000, and our combined pre-forgiveness, with-interest debt is about $200,000. The solace is that we both work nonprofit jobs so we at least have a shot at PSLF by the end of the decade.
My biggest beefs with means testing are 1. it's costly, so costly in fact, that it inflates the price of this an enormous amount. If the government just wiped away $10K from everyone with no questions asked, it doesn't even come close to what we've already spent on weapons sent to Ukraine. And 2. it creates a system that is difficult to navigate and often keeps people that do qualify from getting the money because they don't have as many resources or as much time to navigate the system. Often times these systems are hard to navigate in order to dissuade the people that it should be helping the most.

I'm not advocating that everyone get it because I think that people making over $125K/year should have this *more* than other people, but instead because the simplest answers with the least amount of bureaucracy are usually the most effective programs that do the most good for a majority of the people. Social security and Medicare don't really have any means testing. Public utilities like the library don't have means testing, and everyone can agree that these programs are valuable and effective. Whereas programs like food stamps, welfare and Medicaid are all highly contested and often cost much more than they should because of bureaucratic means testing--like when Florida felt it necessary to drug test all their food stamps recipients only to find that over 98% of the people tested weren't on drugs (gee, how much did that cost the state?). I am a big fan of Medicare 4 All, as I believe that if our goal is a healthy, cohesive society where people feel supported in their communities, this is a no brainer. Also, helping kids get education to do the jobs we need is another great thing for society. We have to start asking ourselves what communities are we want to live in, and start investing in those things.

Okay, okay, I will jump off my soap box and go spin something.
 
Unforgivable.


Not surprised though. That's the attitude of about 1/3 of America.

The whole if I had to work to pay off my student loans so you should too is complete BS.

It's not a 1 to 1 comparison.

Example from a University in CT.

  • Tuition was $1,500 a year to attend for grandma.
  • Tuition was $5,000 a year for mom.
  • Tuition is now $38,000 a year for son / current generation.
And the whole handout argument is just stupid. We give handouts to corporations and banks all the time. And that is okay, we just can't give them to people.
 
I mean the caps on excess interest are rather life changing if your hope was to ever get them paid off.
The proposed rule will supposedly:
  • Cover the borrower’s unpaid monthly interest, so that unlike other existing income-driven repayment plans, no borrower’s loan balance will grow as long as they make their monthly payments—even when that monthly payment is $0 because their income is low.
I haven’t read the rule, but this summary (which I copied and pasted from the White House website) doesn’t say anything about slashing interest that has already accrued.
 
Totally! I’m from a completely different country and it’s as clear as the nose on my face that it’s satire…
Unfortunately, I know too many people who actually believe what he is saying so the satire is lost on me. This is how we ended up with Trump in the first place.
 

Wow, just wow.

Also, it's not racist if you do it just to "own the libs"?

wtf
Also, it's what makes the above video so problematic. People can't tell the difference and/or might actually be using "satire" to shield them from the repercussions due their actual beliefs.
 
I guess it comes as no surprise that Mitch McConnell is against student loan forgiveness. After Biden announced his plans for forgiveness earlier this week Mitch McConnell made it known that he and the GOP are against it. And one of their main reasons is "the fairness of it".

Elizabeth Warren called out Mitch McConnell about fairness when his college tuition was only $330 a year at the time he attended and that it's comparing apples to oranges.
 
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