1ºMishell Oz I don't buy that argument. The amounts may have changed but commonsense hasn't. My parents did not pay one red cent of my college or graduate school education. First, I got one-year scholarships to the universities of my choice. I didn't live on campus and I worked multiple part-time jobs. Student loans paid for the rest because the degrees I got qualified me for jobs that paid real money. Unfortunately, I graduated during one of the deepest economic downturns in my lifetime and NOBODY was hiring, even though my newlywed Japanese wife and I both had MBAs. We made the choice to move to Japan to find work and literally shipped everything we could not sell beforehand to my in-law's place in Japan by sea mail. Times were tough, but we made it. I paid off my student loans after about five years working in Japan. I now have my own company here in Japan and raised two boys who graduated from the top universities here and are pursuing careers of their own.
2ºThis is a transparent waste of money leading up to the elections.
Unless they are only going to cancel 10k of student loan debt for borrowers who have 15k or less, or pair this move with actual legislation that addresses the predatory interest rates/compounding. . . It is a national waste of money.
Eliminate 10k of debt for a graduate who has 45k of debt, and within 5 years the interest from the remaining 35k will have brought that balance back up to 45k or higher.
The problem with student loans and the reason they are crippling for an entire generation, is because they are allowed to be predatory.
Forget the 10k. Make federal students loans 0% interest and eliminate all interest accumulated on currently issued federal student loans.
There are people with 40k student loan balances that have paid 75k on their loans, and still owe 40k. And THAT is the problem.
Either eliminate ALL student debt for borrowers under income thresholds, eliminate interest from issued loans and future loans, or only target those borrowers who have 15k or less in student loans to begin with.
Anything else is a pathetic attempt to keep a campaign promise and an utter waste of the treasury.
3ºDan Duncan what are you talking about and do you think yourself clever with your ridiculous spelling? You want to know who hates democracy? The Democratic Party because anyone who questions or criticizes them becomes a target not only by trying to destroy them but their business as well.
Now, let’s address your prejudice. You know how that works? You (a liberal) pre judge people you don’t even know making you prejudiced. Shocking to you, I’m sure. But absolutely true. Branding all Republicans as alt tight white nationalists is very childish and ignorant.
And you know who tried to destroy our country? Nancy Pelosi, Adam Schiff and Chuck Schumer who spent 4 years and millions of dollars pushing a false narrative with the Russian hoax. Doing everything they could to divide our country. Schiff swore time and time again that he had absolute proof and when it came right down to it and he was told to produce it he had absolutely nothing. Nada.
Actually, it was Hillary Clinton that started that whole thing contacting Russian assets trying to dig up dirt on Trump, which she couldn’t do because there wasn’t anything there.
Now, lastly, with the exorbitant spending of billions and billions of dollars in bills (bills which only gives a very small portion to the actual purpose and filled with pork) mostly being done by Biden we’re being taxed into oblivion which our children and grandchildren will be shouldered with unfairly.
And that’s just wrong to do.
4ºWith the nation already 5 Trillin dollars in debt from Covid, natural disasters, war aid to foreign countries, and problems in country. How can such a nation ever not ever get out of debt? The defense of the nation will be further hampered with all these handouts. Their grandchildren’s grandchildren will be saddled with trying to pay off all those freebies. But as usual, people think only of themselves and the debt they willfully made out of choice. Take heed! socialism and handouts are bringing the nation and all of its citizens down. But in a nation of individualists who only care about themselves as individuals, no one is looking down the road at the pending doom ahead for all the citizens.
5ºCharles Booth can anything you mentioned be done by EO without congressional approval without increasing the nations debt or deficit. If so how. You’re obviously missing what can be done in regards to these outstanding loans. If you’re for those things you should support candidates that are for those ideas but we all know that Republicans aren’t. The outstanding loans are a government asset and the president is just leveraging an asset and betting on middle class college educated families. There are programs like pell grants and other resources for those who can’t afford college and many states like mine provide 2 years of free community college (and many offer trades).
6ºThe outstanding loans are essentially a government asset and this can be done by Executive order (without congress approval) because it’s not new spending and adds nothing to the current deficit or debt. A 20k investment (10k per borrower) for a middle class college educated family is a good investment but suspending 50k (100k for a college educated couple) would be huge. We have to lose this “if it doesn’t benefit me mentality”. 70 Years of trickle down and supply side economics from Republicans have led to no upward mobility out of the middle class. Investing 100k in families this way would be a great investment and could potentially lead to generational wealth if invested right. I’d rather see our government invest in families and help create 4000 millionaires as opposed to investing in 400 billionaires like the foolish republican tax cuts.
7ºSheri MatukonisI paid off my student loans, but still see the benefits as a whole for the country. Majority of people with student loan debt are young and will invest that money back in the country.
Why doesn’t anyone say the same thing about the ridiculous military spending? That ends up supplying enemies but when it comes to actually helping people it’s waaa whats about me haha
My taxes, taxes I rather that go to regime change
Lol these same people have no problem paying more taxes to help billionaires though haha because they still believe money trickle down scam
8ºThey’re buying votes all over the place right now.
They knew they were in real trouble for these midterms and have gone full tilt putting out anything they can whether it’s lies or not. The thought is once anything is out there it’s been brought to the attention of the public. It will remain in the mind of the public and they can always claim a mea culpa and get away with it.
In fact there’s a name for this in political strategy that escapes me. I saw a video from either 2013 or 2017 with Nancy Pelosi explaining this method that she said is a valid and smart way to spread information whether it’s true it not.
I found it just despicable that this is an acceptable practice by anyone at anytime.
9ºSheri Matukonis You can thank President Ronald Reagan for stopping the claiming Credit Cards and Car Loans on our taxes.
I agree with you, but I don't think that it will ever pass.
That would be awesome, if we could.
You are able to claim mortgage interest on your Incone taxes. Thank God that hasn't been taken away, yet! Lol
At least its helping students loans, which I have been hoping for a long time for young adults students. I believe in education.
I know, a lot of people who are still paying huge students loans and the interest keep going up.
Many blessings everyone.
10ºFrazer RC “every decent paying job required one” is the biggest BS peddled on the youth of this country. There are plenty of trades people that have decent paying jobs.
Yes I have a BA from a major university. I was lucky that I didn’t have major loans based on decisions I made, to include working full time making a decent wage with only a HS degree.
One of the biggest problems is the federal government backing these loans, all the BS administration at universities, non sense classes that are required to graduate just so they can give career students jobs as professors, etc etc.
Technical degrees/education should be free in this country (ie engineers, nurses, doctors, plumbers etc) while people that want to study the liberal arts should have to pay.