Forgive my $70,000 in student loans

I plan to take out $100k in loans for each of my 3 children even though I have the funds to pay for college. So I can essentially take the loans and invest the money and maybe even get the loans forgiven someday because people seem to think that loans are taken out by poor people. Most loans are taken out by upper middle class students who don't need the money. Many become engineers or doctors or lawyers. But it will be great for blue collar workers to pay off my loans.

I think you are misinterpreting what I meant. Forgiveness of student loans would only help 13 percent of the population. Most of that 13 percent is not from low income/minority backgrounds. So while it may help few in the low income minority communities, it really doesn’t help most. It would disproportionately help those that came from better economic backgrounds.

Income limits would help address that.

Student loans are paused thru Aug. 31,2022 so people aren't experiencing the "burden" repaying their loan. early Sept. 2022 would be best time to announce partial writeoff and gaining some votes.

The groups that get screwed over the most? Those that paid full freight to begin with and have to watch this s-it....and those that paind for their loans already like anyone should, but ultimately will in some form or other will pay off the forgiveness..It is an insane concept, and certainly is not the cause of financial disaster for low income people, those are other issues, most likely they are not even paying..

I do not even know what the rational argument that can be made for people that signed for stuff that is clearly laid out...CLEARLY and now they dont want to pay. I have two kids with sizable Student Loan debt..you know what NEVER EVER comes up when we see them and that is a LOT....their student loan debt.

The whole thing is the "world owes me" concept. Pay up!! This should not even be an issue, and wouldn't be if Biden hadn't partially run on this, and let people who do not want to repay their debt think that this could easily happen. I mean WTF were you thinking when you signed for $200K? There was no notion that this would be freebie money.

Lose more votes than they will gain by doing it.

My father and I were discussing this recently. He said "They should have been making payments the last 2 years and they'd be 2 years further along in getting it paid off, but that logic would make too much sense for young people". He's not wrong. Who under 30 really thinks like that?

Or if they would have just set that amount aside and saved it to build up a cushion, they wouldn’t have been scared of payments restarting and would be in a much better financial position.

Without having to pay interest, they would taken an even bigger chunk out of their student loans.

I hate this snobbery. You understand that if nobody studies art history, ancient Greek literature, or researches gender and sexuality - then the knowledge gets lost. You might not think it worthwhile to study because of the lack of financial reward, but it is.

He is fine with you studying whatever you want but don't expect us to pay for it. That was the point.

Well wave goodbye to most college courses then - the vast majority are not designed with 'future earnings potential' in mind but are about academic study.

It's too expensive and people will be stop studying and disciplines with thousands of years of knowledge will disappear. All because of "don't expect me to pay for it"

I know the feeling. I do well but have been in deferment for a while. I originally went to college and did not graduate was a typical athlete that focused more on athletics. When I entered military service and hit shore duty my wife signed me up for college and said finish your degree. Once I completed my bachelors I entered a masters program. All of my educational debt is before military service. I am actually working on a second master's right now in Sports Management basically just for fun and to keep from dealing with the loan debt right now so is my wife. My school debt is roughly $17,500 and my wife's is roughly $25,000 or so. I do think this would be a good thing for American's. I do really well financially and wont complain if people in my salary category don't get assistance but the American's who really need it to be able to afford a nice home and some luxuries in life I would love to see them get this assistance.

You’re an engineer making bank so shut the F up. When I do apply to jobs, should I ask them to pay me $70,000 per year less to make you happy? What a stupid point you make. Who would ask for less money, dip$hit? You think HR cares about my loans? F you and don’t be a hater.

Those who benefited from this loan system should be chipping in to pay off at least some of this debt--the colleges. The colleges wildly overcharge for the product they provide, with the money going to build more and more bloated administrations and to overpay professors with job guaranties (tenure). Why instead should the hardworking farmer in Iowa, the elementary school teacher in Chicago, or the cop in Memphis effectively be the one paying off the debt (through their payment of taxes) of a kid who chose to study Film Studies at Chapman University?

But if you choose to study art history or ancient Greek literature and also understand the job market is very limited in these fields and you understand the cost to complete said degree, have at it. Just go in with your eyes open to the cost/benefit of those areas of study.

I doubt it would really move the needle on home ownership. During the pandemic, interest rates dropped even lower, payments were deferred at 0 percent interest, and people were given 3 stimulus checks. How’d that help with home affordability? Home prices skyrocketed.

Based on past policies, I don’t think this would be much different. To me, it would likely cause more people to over extend themselves on student loans in hopes they will get bailed out again, schools will charge more, and you will see home prices and rent continue to go up at least in the near term with the influx of cash.

Printing bills does not address the problem or lead to any change in behaviors from the government, banks, colleges, or borrowers.

Nothing is forgiven. Nothing is free. Someone eventually pays for it.

And the thing that people to seem to grasp is that the majority of the debt is in the hands of college grads md who are upper middle class. So if taxpayers are on the hook, people who didn't go to college lose and people who paid their debt lose. Any payment by the Government to am individual for anything is merely a redistribution of money. Why would anyone support redistributing money to college grads and to people who earn more than the people who would be having taken from?

I did the military service first for 4 years and then found a nice small college on the GI bill. Worked a couple of part-time jobs at a donut shop and a record shop for spending money.