Student Loan Forgiveness is Set to Expire: This is Going to be Painful for Many!

[nOOky]

Why would you be screwed?

Why would things improving over time that may have benefited you, but now benefit other people, screw you?

I think this approach to the student loan problem is short sighted, we can argue about effects on inflation, government spending, etc but this "I didn't get it so I'm angry!" (I guess it's pretty similar to FYGM, FY(I didn't)GM?)

Not me personally, but my office mate was just past the cutoff, I was asking for people like him. I paid my meager loans off 25 years ago. I understand how people feel cheated. I understand the thinking you are trying to convey, that if you are successful you should feel great that you are fortunate and wish to help others. However so many others feel "cheated" because they may have busted their ass to pay their loans, and now other people are basically getting free money thrown at them? If you don't understand why people would feel screwed by this you're a bit out of touch imho.

I am not really a fan of it, or at least the way it's being carried out. It also does nothing but throw money at the effects of a problem systematic throughout the education system along with it's almost predatory loan practices. At least as far as I can read.

 

[Fenixgoon]

Not me personally, but my office mate was just past the cutoff, I was asking for people like him. I paid my meager loans off 25 years ago. I understand how people feel cheated. I understand the thinking you are trying to convey, that if you are successful you should feel great that you are fortunate and wish to help others. However so many others feel "cheated" because they may have busted their ass to pay their loans, and now other people are basically getting free money thrown at them? If you don't understand why people would feel screwed by this you're a bit out of touch imho.

I am not really a fan of it, or at least the way it's being carried out. It also does nothing but throw money at the effects of a problem systematic throughout the education system along with it's almost predatory loan practices. At least as far as I can read.

Look at it from a different perspective - your office mate got paid enough that he could pay his loans off.

The best analogy I've seen is beating cancer and then scientists developing a cure the following day. Bruh, you beat fucking cancer. Be proud of that shit.



The sentiment many express can be generalized to

"I have suffered therefore you must suffer as well".

Iinitially felt the same way back in the day when student loan interest rates were set to increase and there was a call for the feds to step in and cap the interest rates. But my perspective has shifted since.

There are enough ways to build character that we don't need to intentionally make things harder for others if given the choice. And while this doesn't fix the problem, we shouldn't avoid doing something good just because it isn't perfect.

 

[nOOky]

Look at it from a different perspective - your office mate got paid enough that he could pay his loans off.

The best analogy I've seen is beating cancer and then scientists developing a cure the following day. Bruh, you beat fucking cancer. Be proud of that shit.



The sentiment many express can be generalized to

"I have suffered therefore you must suffer as well".

Iinitially felt the same way back in the day when student loan interest rates were set to increase and there was a call for the feds to step in and cap the interest rates. But my perspective has shifted since.

There are enough ways to build character that we don't need to intentionally make things harder for others if given the choice. And while this doesn't fix the problem, we shouldn't avoid doing something good just because it isn't perfect.

That's the thing right there I think. It's not harder for them than it was for others that preceded them. They can be employed gainfully right now if they wish. They can be paying their bills and working. Yes, life is a struggle, even for the educated. It takes years to get established and build wealth. I don't think anyone wants to deny help to those that truly need it and are struggling. But it has literally been years since many of these kids have had to make a payment on their loans, what have they been doing in the interim? At least there should be filters to show the need to qualify for the money, not just a general handout to anyone making under $125k.

I'd rather see free 2 year and trade school tuition for qualifying students myself going forward, but that's just my wish.

 

[ch33zw1z]

Umm 125K is the cutoff? Seems a bit low. Depending on where you are and your life style, $125K can still be a tough

employment doesn’t equal gainful. Most people in America are fortunate to break even

 

[Fenixgoon]

That's the thing right there I think. It's not harder for them than it was for others that preceded them. They can be employed gainfully right now if they wish. They can be paying their bills and working. Yes, life is a struggle, even for the educated. It takes years to get established and build wealth. I don't think anyone wants to deny help to those that truly need it and are struggling. But it has literally been years since many of these kids have had to make a payment on their loans, what have they been doing in the interim? At least there should be filters to show the need to qualify for the money, not just a general handout to anyone making under $125k.

I'd rather see free 2 year and trade school tuition for qualifying students myself going forward, but that's just my wish.

Are you sure about that?
Costs of education and housing have risen dramatically.

inflation-adjusted wages have basically been stagnant, which means yes, it actually is harder now to pay back loans and cover costs of living.

If everyone could find gainful employment, why wouldn't they? Do you really think people are so lazy that they'd rather starve and struggle?

 

[brycejones]

That's the thing right there I think. It's not harder for them than it was for others that preceded them.

I'd rather see free 2 year and trade school tuition for qualifying students myself going forward, but that's just my wish.

The first is a lie, we've dramatically shifted costs to students from federal and state support for schools. What my kids face today is nothing like it was when I first went to college.

Free tuition for everyone please at state schools including 2 year and trade schools. Society reaps massive benefits from having educated, trained humans.

 

[SMOGZINN]

Society reaps massive benefits from having educated, trained humans.

Yes, but the GOP does not, so screw society.

 

[nOOky]

The first is a lie, we've dramatically shifted costs to students from federal and state support for schools. What my kids face today is nothing like it was when I first went to college.

Free tuition for everyone please at state schools including 2 year and trade schools. Society reaps massive benefits from having educated, trained humans.

I meant in just the past few months and years right before the qualification period starts, it starts at January 1st 2020 I believe? Seems like a harsh cutoff actually as does the $125k, but I guess you have to start somewhere.

 

[ch33zw1z]

I meant in just the past few months and years right before the qualification period starts, it starts at January 1st 2020 I believe? Seems like a harsh cutoff actually as does the $125k, but I guess you have to start somewhere.

wut?

 

[Brainonska511]

Umm 125K is the cutoff? Seems a bit low. Depending on where you are and your life style, $125K can still be a tough

employment doesn’t equal gainful. Most people in America are fortunate to break even

$125k as a single person; double for married.

Anyone making $125k/yr as a single person is doing fine in pretty much any place in this country, so let's not delude ourselves here. And the few places they might struggle at that income level are solely because local politicians and NIMBYs have slammed the door on new housing development over the last 40 years, leading to skyrocketing housing costs for those unlucky enough to be born over the last 35 years.

 

[ch33zw1z]

$125k as a single person; double for married.

Anyone making $125k/yr as a single person is doing fine in pretty much any place in this country, so let's not delude ourselves here. And the few places they might struggle at that income level are solely because local politicians and NIMBYs have slammed the door on new housing development over the last 40 years, leading to skyrocketing housing costs for those unlucky enough to be born over the last 35 years.

thanks is for clarifying

 

[dainthomas]

I'd rather see free 2 year and trade school tuition for qualifying students myself going forward, but that's just my wish.

Oregon does that (at least community college), but a republican politician would never vote for it.

 

[Homerboy]

As a resident of New Haven CT I can personally attest that Yale is NOT exactly starved for cash!

"Non-profit" hmmm ..... that's just absurd.

You don't make a profit if you spend every penny you make :tappingheadmeme:

 

[VashHT]

The first is a lie, we've dramatically shifted costs to students from federal and state support for schools. What my kids face today is nothing like it was when I first went to college.

Free tuition for everyone please at state schools including 2 year and trade schools. Society reaps massive benefits from having educated, trained humans.

Yeah it's insane how much costs have gone up, my younger brothers have crazy loans that'll take them way longer to pay off compared to what I had. My boss got an EE degree from U of I in the 70s and was able to pay his tuition by working a summer job, anyone who thinks things are remotely similar to back then are just crazy.

 

[ivwshane]

So if I understand this correctly, if you've paid off your loans say two years ago you are screwed?

Screwed? Sounds like if you paid off your loan two years ago you are doing just fine! Good job! Keep up the good work!

 

[ivwshane]

Not me personally, but my office mate was just past the cutoff, I was asking for people like him. I paid my meager loans off 25 years ago. I understand how people feel cheated. I understand the thinking you are trying to convey, that if you are successful you should feel great that you are fortunate and wish to help others. However so many others feel "cheated" because they may have busted their ass to pay their loans, and now other people are basically getting free money thrown at them? If you don't understand why people would feel screwed by this you're a bit out of touch imho.

I am not really a fan of it, or at least the way it's being carried out. It also does nothing but throw money at the effects of a problem systematic throughout the education system along with it's almost predatory loan practices. At least as far as I can read.

Sounds like the anger should be directed at the problem and not the half ass solution.

It’s amazing to me that the primitive thinking of being mad at other people getting help prevails in a species as advanced as ours. I guess in the grand scale of things, we are still just cavemen.

 

[TheVrolok]

I understand the thinking you are trying to convey, that if you are successful you should feel great that you are fortunate and wish to help others. However so many others feel "cheated" because they may have busted their ass to pay their loans, and now other people are basically getting free money thrown at them? If you don't understand why people would feel screwed by this you're a bit out of touch imho.

I'm not trying to convey that at all, as I said, it's much simpler. It just boils down to "FY(didn't)GM." I completely understand that emotional reaction, I just think it's juvenile. The more mature reaction would be, "Man, would have been nice when I needed it, but boy this is a good thing for those folks!" Obvious larger issues mentioned earlier aside.

 

[TheVrolok]

Sounds like the anger should be directed at the problem and not the half ass solution.

It’s amazing to me that the primitive thinking of being mad at other people getting help prevails in a species as advanced as ours. I guess in the grand scale of things, we are still just cavemen.

Very much this. Fundamentally, we haven't really changed much despite the need for a much higher EQ to successfully navigate an advancing society.

 

[FelixDeCat]

Screwed? Sounds like if you paid off your loan two years ago you are doing just fine! Good job! Keep up the good work!

But the Biden vote buying scheme spits in his face as well as all the other responsible people who paid off all their loans without a government handout.

 

[ivwshane]

But the Biden vote buying scheme spits in his face as well as all the other responsible people who paid off all their loans without a government handout.

You’ve been brainwashed to the point that you think helping Americans is bad. Last time I checked, taking care of the American people was exactly how politicians got re-elected. I’m guessing, based on your historical support of a certain type of politician, that you prefer politicians that enrich themselves.

So how long have you had this attitude of hating anything that helps out your fellow Americans?

 

[pmv]

Look at it from a different perspective - your office mate got paid enough that he could pay his loans off.

The best analogy I've seen is beating cancer and then scientists developing a cure the following day. Bruh, you beat fucking cancer. Be proud of that shit.



The sentiment many express can be generalized to

"I have suffered therefore you must suffer as well".

Iinitially felt the same way back in the day when student loan interest rates were set to increase and there was a call for the feds to step in and cap the interest rates. But my perspective has shifted since.

There are enough ways to build character that we don't need to intentionally make things harder for others if given the choice. And while this doesn't fix the problem, we shouldn't avoid doing something good just because it isn't perfect.

I don't know anything about this specific case, not being American. But it seems like a specific case of an interesting wider moral dilemma. I mean, here the resentment is the other way round - younger people envy older generations who didn't have to pay for university tuition (though the flipside was far fewer people got to go to university at all)

in general one problem with this sort of thing is often the use of hard cut-offs, when it would be fairer to have a gradual transition over time.

But things are rarely 'fair' between different generations. The problem arises in both directions.

As far as that analogy goes, what if someone dies of cancer a day before a cure is found? Or they have a treatment involving the amputation of a limb?

 

[fskimospy]

I don't know anything about this specific case, not being American. But it seems like a specific case of an interesting wider moral dilemma. I mean, here the resentment is the other way round - younger people envy older generations who didn't have to pay for university tuition (though the flipside was far fewer people got to go to university at all)

in general one problem with this sort of thing is often the use of hard cut-offs, when it would be fairer to have a gradual transition over time.

But things are rarely 'fair' between different generations. The problem arises in both directions.

As far as that analogy goes, what if someone dies of cancer a day before a cure is found? Or they have a treatment involving the amputation of a limb?

Even better, when the boomers went to college it was much more heavily subsidized by the government. Then when the boomers became parents and had to pay for their kids they decided to cut that funding so costs for students went up. Now the boomers are complaining those same students are getting handouts because the government is forgiving some fraction of the increased costs.

ie: boomers already got their college handouts but are so clueless and entitled they never noticed.

 

[Pens1566]

And the courts aren't interested in hearing about it for now:

You have no standing, GTFO

 

[Mai72]

The issue is Biden never really addressed the issue with the rising cost of college tuition. This seems like a bandaid. Give people $20k to help with the payment of their student loans. But, it doesn't fully address the student loan crisis. When this is over, many people will still have a large balance that they will have to pay off. Young people today who are going to attend college will be $30k- 100k in student loan debt in a short few years. We will be revisiting this issue 5 years from now. New proposals to help Americans with their student debt will be brought up during relelction .

The issue is college tuition. If politicans don't tackle this nothing is going to change.

 

[fskimospy]

The issue is Biden never really addressed the issue with the rising cost of college tuition. This seems like a bandaid. Give people $20k to help with the payment of their student loans. But, it doesn't fully address the student loan crisis. When this is over, many people will still have a large balance that they will have to pay off. Young people today who are going to attend college will be $30k- 100k in student loan debt in a short few years. We will be revisiting this issue 5 years from now. New proposals to help Americans with their student debt will be brought up during relelction .

The issue is college tuition. If politicans don't tackle this nothing is going to change.

I agree, debt forgiveness without fixing the system just means we have to do this all over again.

That being said, a revamp of the student loan system is currently politically impossible and so I'm not entirely against it as this will be a tremendous help to a ton of people. It's only a band-aid though, like you say.