The Biden Presidency

4bars

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Just got my email from Joe telling me my student loans are about to be forgiven.

Amazing man. Is great that biden is pushing this even with the opposition of Rs and some Ds

Can i ask some questions out of curiosity. You absolutely dont need to answer if if is too personal

- how long did you have that credit
- what percentage you already paid when it was condoned?
 

Kaos

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How is it decided which students get their loans written off? Is it a lottery system or do they have some form of prioritisation system based on outstanding debts, personal circumstances, state, college etc.
 

WI_Red

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What's great are the complaints by my Gen X & older colleagues that they paid off their loans the old fashioned way.
Their loans that were like 1/10th the amount

edit: I had the same discussion with my dad once. The great thing about having gone to the same Univ he did is I could directly compare tuition and costs. We only had that discussion once. :)
 

Red in STL

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Their loans that were like 1/10th the amount

edit: I had the same discussion with my dad once. The great thing about having gone to the same Univ he did is I could directly compare tuition and costs. We only had that discussion once. :)
1/10th is being generous if you ask me
 

Hamnat

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The other thing about those arguing against the student loan relief or thinking it is "unfair" Those same people you can hear a lot of them don't care at all about corporate tax breaks or the types of loopholes the GOP try to give to businesses etc that only benefit the rich or corporations.

I only have about 5k to pay on my loans. I would have had the last 10k cleared off by Bidens initial plan. I had already been accepted before the SC intervention. I personally would not be like "I paid mine the hard way" exorbitant interest rate and all and screw everyone else. I would still favor other people getting the relief after me. The idea that normal people, average citizens getting the direct relief for once is bad I just don't get it.

I would much prefer these people that are trying to better themselves with their education have the relief and they can go on and spend their money elsewhere in the economy. Or save for retirement or whatever.
 

NicolaSacco

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"I didn't go school and get my education so those that did can get their loans paid off by the guv'nent! That's not fair!"

Possibly echoed in a trailer park near you.
It’s problematic because in a simple way it’s an easy to support argument. It’s a bit like staying in the EU. The arguments for it are nuanced and take a bit of getting your head round, whereas the arguments against it are easily explained in a 3 word response.
 

Carolina Red

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Their loans that were like 1/10th the amount

edit: I had the same discussion with my dad once. The great thing about having gone to the same Univ he did is I could directly compare tuition and costs. We only had that discussion once. :)
Oh no doubt. Back then schools like South Carolina and Clemson were $7k-$8k per year to attend... and that's tuition + room & board.
 

4bars

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I’ve been making payments for 12 years, but for 10 years while signed up for the public service forgiveness plan.

Like… around 25% of the principal amount.
Oh wow. It is amazing! 75% and that long had to liberating