If the government "forgives" all the student loan debt, how is that fair to graduates who paid off their debt?

Does it have to be fair?

Loans are forgiven for some in the public sector like teachers. You have to work your tail off for low wages for years to qualify. The loan forgiveness is a way to incentivize qualified people to do government work for lower pay.

That is a huge If. The person who pays off a 50k loan in 2 years only pays 2-3k in interest. The person who makes minimum payments pays a lot in interest. The likelihood of lowering minimum payments is 50/50, in my opinion.

The likelihood of large scale loan forgiveness is about the same as you having a Megan Fox/Jennifer Lawrence ménage

Then it is just transferring a state expense to a federal.

If Bon-Ton puts their jeans "on sale," how is that fair to people who already paid full price for their jeans?

You don't really understand the student loan issues, do you?

Jeb Bush 2016 wrote:

Does it have to be fair?

Let's take fairness out of the equation for a moment. Is it setting a good precedent to set for people to believe there's no incentive to pay off a particular debt because either the government will pay it off or it will be inflated away?

Our phone economy is based on debt. The house of cards falls down when a group of creditors realizes their debtors are too broke to make their payments (See: 2008 Housing Crisis). This why Bernie Madoff would make a great economic advisor to the POTUS.

Life isn't fair. Simple as that.

I only have about 8k left to pay on my college loans (out of about 50k) and yeah it would suck that I didn't get that paid off but... whatever. Life's not fair.

The government wouldn't pay them off, those of us that pay taxes would. The only money the government has comes from taxes. The money isn't owned to the government, it is owed to the investors that bought the government backed student loans.

You don't pay interest on student loans. You get it all back at the end of the year when you do your taxes.

Udch runinppp wrote:

You don't pay interest on student loans. You get it all back at the end of the year when you do your taxes.

Writing it off to reduce taxable income is not the same as getting it back

Udch runinppp wrote:

You don't pay interest on student loans. You get it all back at the end of the year when you do your taxes.

I don't. I paid taxes this year and I pay student loans.

Is that what your financially adept uncle told you when he convinced you to go to columbia university for a political science degree?

Udch runinppp wrote:

You don't pay interest on student loans. You get it all back at the end of the year when you do your taxes.

wahhhhhhhhhhhhh! wrote:

If Bon-Ton puts their jeans "on sale," how is that fair to people who already paid full price for their jeans?

That is an invalid analogy because both customers know how much they have to pay for the jeans at the time when they purchase them

jamin wrote:

Person A and Person B both graduated with $50,000 of debt. Person A worked his tail off to pay off his entire debt in a couple years, while Person B has only been making the minimum payments, still has over $40,000 to pay off. How is it fair to Person A if Person B gets his payments wiped and Person A has to pay for Person B in future taxation (all student loans wiped means $1,000,000,000,000+ more on the national debt)?

Is this what liberals have in mind when they use the term "social justice"? I've always wondered what that means.

Nothing is fair with anything associated with the Obama administration. It really has taken you 7 years to realize that?

jamin wrote:

wahhhhhhhhhhhhh! wrote:

If Bon-Ton puts their jeans "on sale," how is that fair to people who already paid full price for their jeans?

That is an invalid analogy because both customers know how much they have to pay for the jeans at the time when they purchase them

Okay, so if I only realized that the pants were on sale after the fact once I got home and looked at the receipt, then it would be retroactively unfair to the person who bought the same pants a week earlier?

Same as they did with homebuyer credits. Many got a $7k to 15k credit, but I bought in a 2 year window, where my credit was a loan. Not fair at all. Picking winners and losers.

rekrunner wrote:

You don't really understand the student loan issues, do you?

Jamin doesn't like paying off the loans. That is all you need to know.

ya..... wrote:

Is that what your financially adept uncle told you when he convinced you to go to columbia university for a political science degree?

are you seriously suggesting this would be a bad idea?