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Do you understand that the student loan debt forgiveness is for people that have paid their loans for years to the point they have fully paid back their entire initial balance but are now stuck paying back massive amounts of accrued interest?
The banks have recouped their money but due to the high interest rates on these loans the debtor is often paying multiple times their initial loan amounts.
Some people have been paying for 15-20 years and still owe more than their initial loan because of the high interest accrued. Those that are being forgiven must meet certain standards such as having been in good standing with their payments. Meaning not delinquent. Just random example numbers to help explain the gist… you take out a $50,000 loan. Pay on it on time for 20 years, and still owe $55,000 dollars even though you’ve already paid back $75,000. These are the loans being forgiven. The bank got their money and then some. They aren’t hurting. The debtor is hurting. The economy is hurting because that now educated person can’t afford to buy a home/car/have kids/etc. This debt forgiveness allows them to turn their money back into the economy as a whole It’s a bigger boon to all of us rather than having the bank continue to grind them to dust under compounding interest debt. Again, the banks aren’t hurting. Hell, we, the tax payers, have bailed them out. Enough is enough. It’s time to help the little guy for once.
I know I know… pay your debts…. Yada yada… name me one bank that’d give a $100,000 loan to a fresh out of high school kid with no job for anything else… a car, a house, etc? Yet they do it without hesitation for education. It’s predatory and they know it. The jig is up. Enough is enough. Let those that have paid on time, paid their initial balance and then some in full, and have completed their education, get some relief.

I can actually respect that response. You have a point.

You mean the same business that was fined over 350 million for fraud? You do understand when you cheat to make your money that's not actually succeeding, right?

Maybe not anyone but let's face it, the actual comparison right now is only J.D. Vance. It's not like he has to be better than Reagan or anything. He just has to have a pulse at this juncture.

There a lot of misinformation about the debt forgiveness. My example is the reality of it. I’m all for it for those that meet the guidelines. Screw the banks and their absurd interest rates on student loans.

I understand. She just supports the man while pretending all the baggage associated with him isn't part of the package. Some of you will do anything to pretend voting for him isn't accepting and advocating who he is and what he's done.

You keep repeating "banks". I thought all of these loans were through the government?

The Federal Reserve is a bank. It’s the big boss bank that shoves us all around like pawns.

I see. Only you get to ignore negatives and focus on positives on your side while focusing on negatives and ignoring positives on the other.

They should start calling supporters/members of the parties Democraps and Re-poo-blicans because both are full of BS.

Oh, I get that. There has been more and more talk of expanding the program, I thought maybe I missed something. I've been looking since I posted and see one of the new proposals is automatic relief for anyone that has whose accrued balance exceeds the original loan by 20G?

Seems to be a lot more thought needs to go into some of these programs. Anyone with a large amount in loans would easily qualify for that. We should bail out doctors and lawyers now?

Once again showing who you really are. Bravo! Low brow is the road you travel. Somehow I don't think you will be able to "save America" using such tactics.

I get your point. BUT: If someone has paid for 15 or 20 years, on time, minimum payment on student loans, 1 of several things have happened.

Perhaps they put the loan "on hold". As in, didn't start making payments when they could/should have.

Or, perhaps they borrowed too much to go into a field that pays too little.

I know that with my paid for mortgage, I paid the bank the principal plus the interest over 25 years. The bank got all the principal, plus interest. Much more than the loan they gave me. Should I have stopped paying once they got their original amount back?

I'll use my son here also: Just under $50,000 in student loans. He paid it all back in 6 years.

My daughter had a loan/loans of $10,500. If, IF, she makes the minimum payment for all 10 years (that's the max length of the loan) she will have, in 2033, paid back $13,800.

Now, if either of them had put payments on "hold" so to speak, sure, the interest keeps accumulating. But there is no way after 20 years of making payments they would/would've owed more than the original amount.

Have a friend that at age 45 is still paying on their loan. Why? They didn't make any payments for about 10 years, somehow.

Between his loans, his wifes, and now their 2 kids, they are shelling out almost $4,000 a month. They complain. But they pay.

I have no idea what your saying. Did you decide that Pete isn't good,,, Great, tell me why?

I'm a 'HECK", what the hell is that?

I guess I triggered you!

Donny told them he didn't cheat,,, So, they believe him. That's how that happens.

We'll try again...

You said you would put Pete's background against anybody...

Actually, nevermind. 🤣 This is waaay too complex.

You triggered me?? Don't flatter yourself. 🤣

I guess you are right. It's too complex for you to describe or defend.,. Keep up the excellent work of not knowing what the hell you are talking about.

I'm just quoting this so I can laugh more.

He never called you a "heck". What were you thinking even saying that??????????? For real.

Tell us all, what has Pete done well in his current job? Was it when he had his bike hauled to close to his office, then got out of the vehicle to get on the bike to pedal a few blocks, attempting to make it look like he rode his bike the whole way from home?

He struggles with reading.

But not nearly as much as he struggles with critical thought.

And I'm using the word "critical" very, very loosely.

Portland's example only scratches the surface of how, by and large, student loans were part of a predatory program.

I'm sure you're aware of the longstanding preaching of how student loan debt was "good" debt. It was pushed on students as a way to make them comfortable with over-leveraging themselves to pay for exploding college tuition/costs. Like you, I am all for understanding what you're signing yourself up for and following through on that commitment, but enforcing these loans to closure and not doing anything about it is further punishment to people that are paying/trying to pay and rewarding the beneficiaries of said predatory programs.

It is significantly harder to discharge a federal student loan via bankruptcy. There was an "undue hardship" criterion that was very strict up until the last few years.
Interest rates for a federally-backed student loan (IMO) are generally artificially high. For what they are, they should be much lower.

Also, it's worth pointing out that a big part of the whole Student Loan Forgiveness thing was aimed at straight up fraud. You had schools that either never were accredited or lost their accreditation (and other similar shenanigans) that were extracting payments from students and then leaving them with the bill when their piece of paper ended up being worthless. IIRC, ITT Tech was a major offender in this regard.

Well, let's cancel all debt then.

Just ask the folks in East Palestine OH how good of a job he's done.

The whole point of my post was about how student loans have morphed into this monster predatory thing... and that's your response?

Pretty much. Why take out 100,000 in loans, or more, to get a degree that will not be able to pay for itself?

I know too many people that have degrees in "jack crap" that are working in factories. I have many friends whose daughters went to college for fashion design.

College isn't for everyone. And shouldn't be.

Have twin nephews. They went to a vocational school. They are 19. Both of them make more than you can believe. College wasn't for them, and they knew it.

So, so many people needed in the trades. But, college is a "right", right?

Why should we, taxpayers, have to bail out people that fell for so called predatory loans? I'm really interested in your reply.

I mean, I know some people that have loans, but got a job in their field and a benefit is "we'll give you $X amount per month, or year, to help with your loans, but you need to work for it." That's fine.

At least he waited weeks and then showed up in his shiney-new vest and hardhat. The only thing missing was the Village People playing in the background.

The Tweets deflecting to Trump's rail regulations were cute, not that Pete offered any solutions during the two previous years... Because, you know, Trump over-heated the wheel bearing.

So here is a real example, it happens to be mine.

My wife (second marriage) started school at 45 and basically funded her college via loans and part time self employed jobs. After the 5 or so years that it took to obtain a masters degree (minimum requirement in her field) she had about 100K debt.

At that time, it was 6.75 percent interest when 3 percent was normal, and it accrues from the date the loan is taken out. I inherited the "benefits and liabilities" with marriage. I grumbled about it, and paid more than the minimum. A couple of years later, when I sold my house and took some extra out for the purchase of our current house at 2.5 percent. I wrote the check doe over 80K, and it was the financially smart thing to do.

So the government is actually making money on the loans. That is why you hear so many horror stories about debt and loans.

That and the fact that a 100K loan does not make sense for a 40K salary post graduation. There should be limits, not the crazy stuff and negative accrual that is allowed because we can't understand that there is a huge difference between degrees.

My wife earns enough on her own to cover the loans. Not everyone has the same outcome, but the student loan program is a racket. The sad thing is that my wife pays roughly 4x the taxes that she would have before school (considering income and tax rates), so the government is benefiting from the loan in secondary ways as well. Everyone forgets about the last point, but it is the reason most go to college.

Colleges are in business. Their business is attracting customers. Students.

If you're getting $100,000 in loans for a degree that won't pay for it............sorry.

Also, sorry that your wife has to pay taxes on her earnings. It sucks, doesn't it"?

Some of us just suck it up and pay. And vote against tax increases, in almost every instance.

I guess some people have it good and make money and don't pay taxes. I'm not one of those.

My very liberal, very wealthy uncle wants taxes increased. He also invests in one of the biggest scams ever - bit coin. When I asked him why he said "the government can't track that money, so you don't pay taxes on it."

J/C

How many people does a businessman employ over the lifetime of the business? Consider how many white and blue collar workers that made a decent wage while working for Trump. - Years of wages. Granted, the man declared bankruptcy when it was forced upon him. But, admit it, he was on the line.

Trump has never declared personal bankruptcy, ever. And handful of his hundreds of businesses did. Which is quite remarkable that it was only a handful because most businesses fail. He is extremely successful in business.

I am not sure you are getting my point. Maybe you read it too quickly. A person who earns more money pays more taxes. Tax revenue to the government is increased, net revenue to the person is increased. It has a return on investment aspect for both parties.

No one is complaining about the payment of taxes, just recognize that most people with college degrees pay more taxes. That is a good thing for the person and the government.

It was a Wheel Bearing that caused the accident!

https://www.ntsb.gov/news/press-releases/Pages/NR20240625.aspx

Not sure what Pete could have don't about that and since under the Trump Admin, Train repair was curtailed quite a bit so maybe we should be pointing a finger at Trump?



NTSB and the EPA all say that the clean up is complete.

Like most things, you have not done enough research about this. Are there some folks that don't like Pete...Sure. Always will be. But the work completed there was amazing how quick they got the mess cleaned up and the Bridge re opened.

I mean, I live within 60 or so miles of East Palistine and we don't hear many complaints. There is always someone that will complain for sure, but no real outrage.

Yes, did you expect better? He thinks businesses should be able to take advantage of people and that's perfectly fine. It appears he didn't bother reading all of the qualifications it takes to have your student loan forgiven. That or it doesn't matter to him which is why you got this response from him.

Trump hires contractors who often times he didn't pay. Those "blue collar workers" worked for those contractors and never worked for trump. Bankruptcy isn't "forced" upon anyone. It's what happens when they go broke. When you build a casino, where the odds are already stacked in your favor from the moment people walk through the door, and your casino goes broke, that's your fault.

Trump's main business was fined more than 350 million for being crooked. His charity was shut down and he was forced to pay the people he swindled through that charity. But i understand how that sounds like success to some. It's like cheating in Monopoly and claiming you won.

One thing about it, if Kamala selects Mark Kelly as her running mate, the next time trump talks about the assassination attempt Gabby Gifforfds, Kelly's wife, can say hold my beer.

You'll never hear me crying for the person who went for Harvard for 5 years for an English degree and can't get a job besides Starbucks barista. Those people exist, but that's not who anyone in this thread is talking about.

What we're talking about is the hypothetical person that went to a "college" that advertises heavily on TV and radio for a degree that they were told would guarantee them a high-paying job. While they should've known better than to sign on the dotted line for the awful terms of their loan, they were still misled because they were guaranteed a job even though the school they're going to isn't accredited anymore (or wasn't ever) for the program they studied. Accreditation is considered a minimum standard for all degrees, but for some is absolutely required (generally, if you need to obtain some sort of professional cert in order to do the job for which you studied).

There are two hypothetical people I've described in this post. You are talking about the first, I'm talking about the second. There are far more of the latter than the former.

Once again, 100% wrong, pit. Sad, really.

yeah right. That’s why he won’t show US his tax returns. Eww boy. Successful at cheating.

Then maybe you should have been reading the thread and see who and why they qualified for student loan forgiveness first.

You can start with Oobers just above.....

I think that she is going to pick the Gov of Pennsylvania-Shapiro
Popular in a state that the dems need to win.

If she picks someone like Kelly, that would also open up a senators seat that might flip

I get that line of reasoning and it makes sense. I just have no idea which direction she will go at this point. It does seem rather farfetched to me that she would select Pete Buttigieg no matter how much the media is making about him being a contender. He can't swing Indiana and I can not a tactical advantage in selecting him.