As a Democrat I CANNOT Support Biden after he forgives student debt

LOL!!!! Most ignorant post on the thread!

Notice how Dumocrats like The Gallant Pig Man like to deflect>>>look squirrel!!!!!

Please don't stop posting, ever. You are too dumb to believe. Even my liberal friends at work are laughing at you. I work in Finance in NYC. You're too dumb to cut it old man.

And we paid off our college debt- I never cried about it nor asked the government for help. My college was paid off by ME and I fulfilled my obligation as a responsible adult.

The sad irony is that the only reason student loan debt is a problem is because people who think the way the Pig thinks decided to guarantee student loans with the federal government and then people who think the way the Pig thinks decided to jack up tuition costs because the government was paying.

I don't think that's a fair comparison, you're comparing programs that subsidize necessities with inflated college bills for many people who could have gone to a cheaper school or didn't graduate. I don't doubt that many kids (and parents) were taken advantage of. Colleges should also be held responsible. It's not so black and white.

When I went to med school, I took out 40K in loans for the first year. Already had 20K from undergrad. Signed up for a government program/scholarship. Owed 3-4 yrs of service in a rural area after medical training. Lived frugally, paid off debt. Other people I went to med school w/ had 250K in loans, they are still paying them off but they were adults when they took out these loans and can still live well. Don't think they should qualify.

I am really torn on this loan relief. On the one hand there are many people that were probably taken advantage of. On the other hand, many people should have known better; should we all pay for their poor financial decision making? Yes, I'm aware taxpayers have bailed out corporate America repeatedly.

We can definitely have an argument over what is and isn’t necessary. That’s pretty much what we’re doing now right? In my opinion, a modern nation must guarantee certain things. Safety from both inside and outside threats is one we all agree upon. Roads a public infrastructure as well.
Its just when we get to healthcare and education that we start to disagree about what is necessary.

REPUDIATE THIS COMMENT AND APOLOGIZE OR I SHALL BLOCK YOU.

The Pig Man is a raving left-wing lunatic!!!! He surely lives on free STUFF, hence his excitement over his boyfriend's loans being reduced...but it's not going to happen anyways.

Pretty sure you went to college when it cost significantly less than it does now. I probably paid more money in loans than you did and I’m not complaining about debt relief.

Loan relief as it's being done does literally nothing to solve the problem.

Something like 40% of the student loan debt is held by people who didn't even finish. Most of those are loans to students who went to cosmetology or barber school or vocational colleges.

You don't fix predatory lending by throwing money at the victims of it. You go after the lenders or you remove the incentive to be a predatory lender. This bill doesn't do any of that.

This bill makes people who don't know anything about the subject to FEEL good and it attempts to buy the votes of people who benefit from it. Period.

College cost what? $125 for the semester back then?

20M working Americans get their entire student loans wiped away… ask them if it’s “doing nothing”

Its a good move but it has to be coupled with market-based mechanisms to push college costs down (capping federal loans), telling dumb kids (e.g. white midwits) to go to community college instead, etc.

How about people being forced to pay for unnecessary war debt they didn't want? You ok with that?

Aren’t you special.

My $300k in my kid’s college debt was paid off by ME and I fulfilled my obligation as a responsible adult and I’m delighted that others will find some relief from the onerous terms (e.g. negative amortization) and usurious interest rates (7.9% in a 0% interest rate environment) levied by this college funding SCAM because I’m not a self-centered self-righteous dickwad.

Liar Liar - I dislike Trump. I am no Trump voter. I do understand economics and indeed one of my mentors was Justice Ginsburg's husband, and my twin is a very well known economist.

Can you answer the substance from an economic perspective? You many not have the tools to do it. But an attempt other than an ad hominem and unfounded attack would be welcome. You must be young and have a limited education, which of course is a common problem. A call to STFU is hardly a reflection of intelligence or education.

If you read carefully, I am not opposed at all to reform. But to keep on making loans on the same basis while forgiving a relatively small debt makes no sense. In two years we will be back at 1.6 trillion, with even more ugly stories given the looming recession.

You raise a straw man about what I did not raise. Completely irrelevant to the issue at hand. Some have indicated the schools need skin in the game. I am not sure - the academic industrial complex folks are fantastic rent seekers. I suspect adjustment to the bankruptcy code may be of some help. The question is who will get stuck with the unsecured debt. And dischargeability may impact future loans. I know your high IQ statement indicates that I should STFU, but I know of no other unsecured debt which is essentially not dischargeable. It has enormous moral and ethical and legal implications. Anyone with a modicum of economic training understands the notion of efficient breach and its consequences (although imperfect). Student loans just radically distort the system.

Although in theory secured lending, given the foolish LTV lending policies we will see that lenders will get clobbered in the auto loan market. And bankruptcy is available for deficiencies, will be frequent and often not collectible. No tears for lenders - that is the way markets work and stupid credit policies lead to stupid results. The student loan racket offers no choice to consumers, largely because of non-dischargeabilty.

Note too Biden's actions only impact public loans and not private ones, and doesn't include Parent Plus either.

A call for a universal solution is hardly the hallmark of a Trump voter. Query if you can come up with a substantive response. Sadly I doubt it.

When I consider the possibility of free college, I think about how bad the public high schools are near me and don't think an extension of that would be helpful

American Universities are the greatest education system in the world.

Fiddling with them too much is a recipe for ruining that.

Well you don't seem 'just fine.' You seem completely unhinged.

Maybe shoulda took a few art classes.

You demonstrate that you're too stupid to understand what the problem actually is and then drop a racist "white midwits" into your idiotic opinion.

You are dumber than the "dumb kids" you're insulting.