No. You took the loans, pay the money. There is no excuse for willfully accepting cash, spending it and then expecting someone else to pick up your tab.
That said, college tuition costs need to get body checked. Predatory lending practices need to get knee capped. And America needs more opportunity for people that do not have a four year degree.
But regardless of all the reasons you feel like you should get some relief from your debt, that is foolishness. You are no better than the banks who run up trillions in bad debt and expect my tax dollars to pay for it. You take out the loan, you pay back the loan. Period.
assuming that the debt is forgiven tomorrow and student loan debt is $0, it will take less than 20 years for it to go back to $1.75 trillion again. forgiving the debt is a bandage on a wound that needs stiches.
Should I get a refund for paying off all my loans?
Yes, for starters none of that money came from taxes. That money came from an act of congress and the power of the pen. They made a bill that allowed the US government to create the money that was used for those loans. These are not the same as private loans that come from a bank, this is money that did not exist before, and we are asking people to pay back money for something that literally didn’t exist before. Forgiving the loans would mean that the money going to the government would instead be put back into the economy and help with the overall situation when nearly two trillion dollars in debt is erased. Debt that in no way came from private loans such as banks or other financial institutions. It isn’t just the right thing to do for the economy, it is the moral thing to do for millions of American citizens.
I don’t understand why taxpayers should be liable for outstanding student loans?
Also, what is to prevent being back in the same situation in 10-20 years if the underlying problem (I.e. cost of higher education) isn’t fix?
From for profit colleges for sure for everyone
Reduce the interest rate to zero. Forgive already paid interest and apply it to current loans if they still have some. Dictate what you will pay per credit to a school and they must agree to it without additional fees to accept student loans. Like Medicare is to insurance, FAFSA is the biggest lender and the colleges should be held accountable to keep prices reasonable by having to agree to a price before receiving funds.
Not unless you’re prepared to pay off all my PPP loans.
How about just have the 30,000 in taxes I pay go to my student loans for a year?
Yes, and higher education should be free at point of service.
You know how people will say “I had to pay, so should you”?
I didn’t have to pay; I used financial aid and as a dependent of a veteran I was also eligible for the GI Bill, which I used to pay for most of my community college tuition.
It is precisely because I didn’t have to pay that I believe others should also be able to get a free higher education.
At bare minimum, for those who believe in merit-based systems, financial aid should be doubled or perhaps even tripled so that it actually covers the full cost of a public/state college in modern times.
I don’t understand why people find this suggestion disagreeable.
Why stop at forgiving student loans?
Why not address the bills Congress passed preventing loans from being discharged in bankruptcy?
I figure most with loans are educated, they’ll figure out a way to pay off their loans.
Yes, also home loans, car loans, and credit card debt. All bad decisions that were made not being able to see the unforeseeable future.
The big political issue is that many of the poorest are not able to attend college and then have debt forgiven.
That does create a pretty big inequity. You are subsidizing one higher group at the expense of the lower group unless this is tied into only some wealthy tax. Even then, why is not extended to vocational education or programs?
As many have said solve the problem first then talk about forgiveness. Forgiveness is not free we will all be paying for it.
Funny how those opposed to the idea always say “MY tax dollars shouldn’t pay for you” as if those of us who have student loan debt don’t also pay taxes. How about it’s MY OWN taxes paid to the government every year that should erase my government owned student debt? It doesn’t affect you people and you should mind your own damn business.
No. You took out a personal unsecured note. You agreed to the terms. You spent the money.
Pay it back.
Who is paying for it? I mean, someone has to pay for it.
The college professors and administration should take a salary cut or give money back to forgive their students.
The primary goal should be to get the cost down.
Force the schools to take the first share of these losses. It will end the practice overnight of extending credit to kids getting worthless degrees
Home loans, medical debt is more than this. Amount is not justification. Make them pay and hold universities responsible to get them good jobs.
I’m not sure.
But I am sure that our system for financing higher ed is deeply broken – and this won’t fix it.
We need to rethink the student loan system. Federally guaranteed loans should be available – for use at schools that meet both educational standards (no degree mills) and don’t charge more than some set $ per credit. No federally subsidized loans for $80K per year private schools. If you choose to take on that huge debt, you should be responsible for paying it back.
By making loans only available to those going to schools that don’t overcharge, tuition inflation will be reduced, and powerful incentives will be in place to not go to a school just because it is “elite.”
This is similar to “single payer” health care plans where the gov’t has the power to negotiate rates on medical drugs and procedures – forcing down the costs (since individuals have no negotiating power.
We might also want to consider incentives for studying STEM.
Well that’s only 0.18% of the national debt. So just fucking forgive it and maybe it will help the economy bounce back because the debtors will spend money on stupid shit like shoes or something instead /s
The least it should be is dischargeable thru bankruptcy. The graduates that are doing well should pay it back. The ones who aren’t should be able to declare bankruptcy.
Looking at the comments, there’s a fundamental break in how people see this problem and the two sides are talking past each other.
These arguments overlook the reality that the student loan issue is destroying America’s economic underpinnings.
The deal was simple; the government will issue guaranteed loans in return for educated workers, higher quality taxpayers, and economic competitiveness in key industries. Simple feedback loop.
Problem is that companies are not incentivized to fulfil this equation; they are rewarded when labor costs are low. Companies in America do not exist to subsidize the government or workers.
Meanwhile, schools were in an arms race to attract more students, powered by NCLB. They needed bigger buildings, more programs (and more admin titles for more prestige). So schools kept upping the price and the government kept fitting the bill.
That relationship ended in 2008.
Now there’s an entire cohort of workers who will never properly contribute to the economy. Even worse, they have no incentive to create the *next* cohort. They are full of stories of broken promises and empty platitudes, reducing the trust in education even further.
That means lower quality workers, which produce fewer quality goods and services, creating another feedback loop. Software will fills the gap—this is what makes the world of Idiocracy tick, and soon it will make ours tick too.
Meanwhile, the technologies that do exist reward high-dopamine creating labor that may not provide tangible value. Doctors are already subsidizing their wages with online content creation—see Dr. Pimple Popper and the like. This provides no value to the patient and little tangible value to society.
Get ready for your doctor moonlighting on OnlyFans to pay their bills.
And this does not even get into the birthdate, which dating algorithms and short-form social media will continue to destroy.
All this will come together to make our likely future—a service-based economy mitigated through SaaS designed for people who read at a 6th grade reading level, handled by people who are too over-stimulated to answer a telephone, too selfish and stupid to form relationships even with software assistance, unable to complete basic tasks without gamified rewards, a world made for the stupid and cruel and boring.
Don’t think it can’t happen here. Remember that the Soviet Union used to train rocket scientists.
I hope Verizon forgives my cell phone bill later this month, too.
No
Simple question…by paying off these loans will it fix the problem of college tuition prices, or is it a pass the buck situation
We paid for ppp loans, $7500 ev credits. Etc. Why not?
Yes. I know ethics and economics do not traditionally communicate well, but this is an ethics issue. A massive number of working aged adults cannot participate in the economy in meaningful ways. Not to mention that generation wealth is becoming a thing of the past because no one can save. It’s a huge and negative weight bearing on the economy, as well as on our ethical compass as humanity.
Will it fix the economy, no, but will it have a goddamn positive effect on the livelihoods of so many people. It’s the ethical thing to do, and will be a step in the right direction. Not everything needs to be profitable to be worth doing.
Fucking yes! ( not directed at you homie, but the idea)
No, give it to the really, really, really rich people, we plebs have had it too easy for too long. I’m sure I could suffer more! Perhaps I could pay my boss to work there, and he could harvest my blood to sell for plasma whilst I do so.
62% of Americans live pay check to pay check. In families It takes both parents to work and they can’t afford the heat bill. Good, hardworking people doing everything right every step of the way, and not making it.
That was the American dream. If you work and are good to people, you will have a fullfilling life and want for nothing or at least not much.
This to me, is the biggest thing that pisses me off. Its a lie.
They’re not lazy, they’re working 2-3 jobs, they sleep 4 hours a night. They don’t do drugs, they’re not criminals, they save every penny, they try to stretch the buck, the try to fix their own car (if THEY CAN EVEN AFFORD ONE), they try to fix their laptop or phone themselves, they’re eating beans and rice. They reserach on youtube how to finance. They’re not immoral, or unethical, in fact they’re exactly the opposite! They’re not scumbags, why the fuck are we being treated as scumbags?
People are paying $700 a room to rent. Friends combined with family or multiple “households” are signing deeds together to afford housing.
Minimum wage hasn’t moved in a decade minimum.
CEO’s are getting criminal paychecks @ 300 fold a base employee. In other coutries its like 20 fold.
The concentration of wealth is just so ridiculous, does the top 1% have 50% now if not more? Its always rising.
What is that? Like 600 people hold more wealth than 150 million people?
A study at princeton univeristy concluded that whether a 100% popular vote or a 0% popular vote got to congress, it had a 30-33% chance to pass. Meaning if the Bill was free healthcare, public transit, free college, net neutrality, Universal Basic Income, 6 months parental leave, free childcare, federally madated 8 weeks off a year paid , paid sicktime and free gummy bears for life ( All coming out of the military budget at like 5-10% ish of that lets say) OR the death of every first born child ITS STATISTICALLY JUST AS LIKELY TO PASS.
We are not represented, we as a people are not reperesented. Compaines are though, and lobbying is legal bribery. This is taxation without representation.
The money we pay, as we the people, is not being used what its for, which is we the people. Not we the elite.
Once student loans became unable to be forgiven as debt (like bankruptcy) tuition, books, college shot up ridiculously like exponetially.
Kids were getting over their head in student loans , the way people were getting in over their head in the housing market right before the 2008 crash. They don’t give a shit if you can’t afford all either, both loans would be handed out to just anyone. Like halloween candy. This was predatory.
The wealth needs to be re distibuted again, somehow.
The job of a government is to serve its people. People! Not LLC’s. Not company entities.
A government should tax the rich enough (like they did in the 50’s and 60’s) to be able to operate in the country that allowed it prosper. With financial power comes financial responsibilities, fucking taxes.
That levels the playing feild enough, to get a fair chance to people that deserve it.
Tax more that have it, and how about like a 0% tax under 50 grand? Money has to get to these people that have been increasingly fucked over since union busting in the 70’s.
A billion is such a huge number. If you stacked 1 billion single dollar bills on top of each other, it reaches space. Laid end to end, it reaches the sun. 1 Billion.
You got 2 guys having a dick measuring contest with the most uselss , frivolous, fucking space ships?, and everyone else is starving. Cause those dudes have all the money, THERES NONE LEFT, it was gone before groceries and housing hit fucking double triple quad prices.
Who the fuck is gonna buy shit from amazon, if they’re employees can’t afford it? What we gonna pay with? Tulips? Didnt Hentlry Ford realize this?
If we were even slightly representes as a people.
If it was just a simple vote.
This shit wouldnt even be a question.
Democrat , Republican, no we’re neighbors. We’re the working class Americans. Its the owners and the laborers, it always had been. Its us, against the uber, uber, uber elite, they’re not fucking kings its a god damn democracy.
” among these rights are life, liberty, and pursuit of happiness.” We’re fighting amongst ourselves because propaganda works. We’re not pursuing, we’re not united. We the people want the same thing. Its always “high paying jobs”, we need jobs.
No we need money. Fucking money. 99% of the problem for everyone is money. This generations and other coming, can not survive like this.
And there has been very little (and thats generous) if any thats being done for the average pereon, they re just being bleed like cattle.
31 comments
No. You took the loans, pay the money. There is no excuse for willfully accepting cash, spending it and then expecting someone else to pick up your tab.
That said, college tuition costs need to get body checked. Predatory lending practices need to get knee capped. And America needs more opportunity for people that do not have a four year degree.
But regardless of all the reasons you feel like you should get some relief from your debt, that is foolishness. You are no better than the banks who run up trillions in bad debt and expect my tax dollars to pay for it. You take out the loan, you pay back the loan. Period.
assuming that the debt is forgiven tomorrow and student loan debt is $0, it will take less than 20 years for it to go back to $1.75 trillion again. forgiving the debt is a bandage on a wound that needs stiches.
Should I get a refund for paying off all my loans?
Yes, for starters none of that money came from taxes. That money came from an act of congress and the power of the pen. They made a bill that allowed the US government to create the money that was used for those loans. These are not the same as private loans that come from a bank, this is money that did not exist before, and we are asking people to pay back money for something that literally didn’t exist before. Forgiving the loans would mean that the money going to the government would instead be put back into the economy and help with the overall situation when nearly two trillion dollars in debt is erased. Debt that in no way came from private loans such as banks or other financial institutions. It isn’t just the right thing to do for the economy, it is the moral thing to do for millions of American citizens.
I don’t understand why taxpayers should be liable for outstanding student loans?
Also, what is to prevent being back in the same situation in 10-20 years if the underlying problem (I.e. cost of higher education) isn’t fix?
From for profit colleges for sure for everyone
Reduce the interest rate to zero. Forgive already paid interest and apply it to current loans if they still have some. Dictate what you will pay per credit to a school and they must agree to it without additional fees to accept student loans. Like Medicare is to insurance, FAFSA is the biggest lender and the colleges should be held accountable to keep prices reasonable by having to agree to a price before receiving funds.
Not unless you’re prepared to pay off all my PPP loans.
How about just have the 30,000 in taxes I pay go to my student loans for a year?
Yes, and higher education should be free at point of service.
You know how people will say “I had to pay, so should you”?
I didn’t have to pay; I used financial aid and as a dependent of a veteran I was also eligible for the GI Bill, which I used to pay for most of my community college tuition.
It is precisely because I didn’t have to pay that I believe others should also be able to get a free higher education.
At bare minimum, for those who believe in merit-based systems, financial aid should be doubled or perhaps even tripled so that it actually covers the full cost of a public/state college in modern times.
I don’t understand why people find this suggestion disagreeable.
Why stop at forgiving student loans?
Why not address the bills Congress passed preventing loans from being discharged in bankruptcy?
I figure most with loans are educated, they’ll figure out a way to pay off their loans.
Yes, also home loans, car loans, and credit card debt. All bad decisions that were made not being able to see the unforeseeable future.
The big political issue is that many of the poorest are not able to attend college and then have debt forgiven.
That does create a pretty big inequity. You are subsidizing one higher group at the expense of the lower group unless this is tied into only some wealthy tax. Even then, why is not extended to vocational education or programs?
As many have said solve the problem first then talk about forgiveness. Forgiveness is not free we will all be paying for it.
Funny how those opposed to the idea always say “MY tax dollars shouldn’t pay for you” as if those of us who have student loan debt don’t also pay taxes. How about it’s MY OWN taxes paid to the government every year that should erase my government owned student debt? It doesn’t affect you people and you should mind your own damn business.
No. You took out a personal unsecured note. You agreed to the terms. You spent the money.
Pay it back.
Who is paying for it? I mean, someone has to pay for it.
The college professors and administration should take a salary cut or give money back to forgive their students.
The primary goal should be to get the cost down.
Force the schools to take the first share of these losses. It will end the practice overnight of extending credit to kids getting worthless degrees
Home loans, medical debt is more than this. Amount is not justification. Make them pay and hold universities responsible to get them good jobs.
I’m not sure.
But I am sure that our system for financing higher ed is deeply broken – and this won’t fix it.
We need to rethink the student loan system. Federally guaranteed loans should be available – for use at schools that meet both educational standards (no degree mills) and don’t charge more than some set $ per credit. No federally subsidized loans for $80K per year private schools. If you choose to take on that huge debt, you should be responsible for paying it back.
By making loans only available to those going to schools that don’t overcharge, tuition inflation will be reduced, and powerful incentives will be in place to not go to a school just because it is “elite.”
This is similar to “single payer” health care plans where the gov’t has the power to negotiate rates on medical drugs and procedures – forcing down the costs (since individuals have no negotiating power.
We might also want to consider incentives for studying STEM.
Well that’s only 0.18% of the national debt. So just fucking forgive it and maybe it will help the economy bounce back because the debtors will spend money on stupid shit like shoes or something instead /s
The least it should be is dischargeable thru bankruptcy. The graduates that are doing well should pay it back. The ones who aren’t should be able to declare bankruptcy.
Looking at the comments, there’s a fundamental break in how people see this problem and the two sides are talking past each other.
These arguments overlook the reality that the student loan issue is destroying America’s economic underpinnings.
The deal was simple; the government will issue guaranteed loans in return for educated workers, higher quality taxpayers, and economic competitiveness in key industries. Simple feedback loop.
Problem is that companies are not incentivized to fulfil this equation; they are rewarded when labor costs are low. Companies in America do not exist to subsidize the government or workers.
Meanwhile, schools were in an arms race to attract more students, powered by NCLB. They needed bigger buildings, more programs (and more admin titles for more prestige). So schools kept upping the price and the government kept fitting the bill.
That relationship ended in 2008.
Now there’s an entire cohort of workers who will never properly contribute to the economy. Even worse, they have no incentive to create the *next* cohort. They are full of stories of broken promises and empty platitudes, reducing the trust in education even further.
That means lower quality workers, which produce fewer quality goods and services, creating another feedback loop. Software will fills the gap—this is what makes the world of Idiocracy tick, and soon it will make ours tick too.
Meanwhile, the technologies that do exist reward high-dopamine creating labor that may not provide tangible value. Doctors are already subsidizing their wages with online content creation—see Dr. Pimple Popper and the like. This provides no value to the patient and little tangible value to society.
Get ready for your doctor moonlighting on OnlyFans to pay their bills.
And this does not even get into the birthdate, which dating algorithms and short-form social media will continue to destroy.
All this will come together to make our likely future—a service-based economy mitigated through SaaS designed for people who read at a 6th grade reading level, handled by people who are too over-stimulated to answer a telephone, too selfish and stupid to form relationships even with software assistance, unable to complete basic tasks without gamified rewards, a world made for the stupid and cruel and boring.
Don’t think it can’t happen here. Remember that the Soviet Union used to train rocket scientists.
I hope Verizon forgives my cell phone bill later this month, too.
No
Simple question…by paying off these loans will it fix the problem of college tuition prices, or is it a pass the buck situation
We paid for ppp loans, $7500 ev credits. Etc. Why not?
Yes. I know ethics and economics do not traditionally communicate well, but this is an ethics issue. A massive number of working aged adults cannot participate in the economy in meaningful ways. Not to mention that generation wealth is becoming a thing of the past because no one can save. It’s a huge and negative weight bearing on the economy, as well as on our ethical compass as humanity.
Will it fix the economy, no, but will it have a goddamn positive effect on the livelihoods of so many people. It’s the ethical thing to do, and will be a step in the right direction. Not everything needs to be profitable to be worth doing.
Fucking yes! ( not directed at you homie, but the idea)
No, give it to the really, really, really rich people, we plebs have had it too easy for too long. I’m sure I could suffer more! Perhaps I could pay my boss to work there, and he could harvest my blood to sell for plasma whilst I do so.
62% of Americans live pay check to pay check. In families It takes both parents to work and they can’t afford the heat bill. Good, hardworking people doing everything right every step of the way, and not making it.
That was the American dream. If you work and are good to people, you will have a fullfilling life and want for nothing or at least not much.
This to me, is the biggest thing that pisses me off. Its a lie.
They’re not lazy, they’re working 2-3 jobs, they sleep 4 hours a night. They don’t do drugs, they’re not criminals, they save every penny, they try to stretch the buck, the try to fix their own car (if THEY CAN EVEN AFFORD ONE), they try to fix their laptop or phone themselves, they’re eating beans and rice. They reserach on youtube how to finance. They’re not immoral, or unethical, in fact they’re exactly the opposite! They’re not scumbags, why the fuck are we being treated as scumbags?
People are paying $700 a room to rent. Friends combined with family or multiple “households” are signing deeds together to afford housing.
Minimum wage hasn’t moved in a decade minimum.
CEO’s are getting criminal paychecks @ 300 fold a base employee. In other coutries its like 20 fold.
The concentration of wealth is just so ridiculous, does the top 1% have 50% now if not more? Its always rising.
What is that? Like 600 people hold more wealth than 150 million people?
A study at princeton univeristy concluded that whether a 100% popular vote or a 0% popular vote got to congress, it had a 30-33% chance to pass. Meaning if the Bill was free healthcare, public transit, free college, net neutrality, Universal Basic Income, 6 months parental leave, free childcare, federally madated 8 weeks off a year paid , paid sicktime and free gummy bears for life ( All coming out of the military budget at like 5-10% ish of that lets say) OR the death of every first born child ITS STATISTICALLY JUST AS LIKELY TO PASS.
We are not represented, we as a people are not reperesented. Compaines are though, and lobbying is legal bribery. This is taxation without representation.
The money we pay, as we the people, is not being used what its for, which is we the people. Not we the elite.
Once student loans became unable to be forgiven as debt (like bankruptcy) tuition, books, college shot up ridiculously like exponetially.
Kids were getting over their head in student loans , the way people were getting in over their head in the housing market right before the 2008 crash. They don’t give a shit if you can’t afford all either, both loans would be handed out to just anyone. Like halloween candy. This was predatory.
The wealth needs to be re distibuted again, somehow.
The job of a government is to serve its people. People! Not LLC’s. Not company entities.
A government should tax the rich enough (like they did in the 50’s and 60’s) to be able to operate in the country that allowed it prosper. With financial power comes financial responsibilities, fucking taxes.
That levels the playing feild enough, to get a fair chance to people that deserve it.
Tax more that have it, and how about like a 0% tax under 50 grand? Money has to get to these people that have been increasingly fucked over since union busting in the 70’s.
A billion is such a huge number. If you stacked 1 billion single dollar bills on top of each other, it reaches space. Laid end to end, it reaches the sun. 1 Billion.
You got 2 guys having a dick measuring contest with the most uselss , frivolous, fucking space ships?, and everyone else is starving. Cause those dudes have all the money, THERES NONE LEFT, it was gone before groceries and housing hit fucking double triple quad prices.
Who the fuck is gonna buy shit from amazon, if they’re employees can’t afford it? What we gonna pay with? Tulips? Didnt Hentlry Ford realize this?
If we were even slightly representes as a people.
If it was just a simple vote.
This shit wouldnt even be a question.
Democrat , Republican, no we’re neighbors. We’re the working class Americans. Its the owners and the laborers, it always had been. Its us, against the uber, uber, uber elite, they’re not fucking kings its a god damn democracy.
” among these rights are life, liberty, and pursuit of happiness.” We’re fighting amongst ourselves because propaganda works. We’re not pursuing, we’re not united. We the people want the same thing. Its always “high paying jobs”, we need jobs.
No we need money. Fucking money. 99% of the problem for everyone is money. This generations and other coming, can not survive like this.
And there has been very little (and thats generous) if any thats being done for the average pereon, they re just being bleed like cattle.