Do you believe in Student Loan Forgiveness?

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Current Events » Do you believe in Student Loan Forgiveness?
Why or why not?
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Considering the overall debt landscape was built upon predatory tactics to take advantage of and siphon as much money from young people who may not know any better, or assume doing so was for the greater good of obtaining a higher education, it only makes sense that there is a reversal and correction of those practices.
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It's an objectively better system, so I believe in it on a moral level.

Believe in it as in "think it's likely?"

It's an objectively better system, so of fucking course not, the US has fully embraced ratfucking.
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Yes. I think college should be free to students and covered by taxes.
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This will probably make me sound like a piece of shit but honestly, as long as it doesnt significantly affect me financially, Im all for it of course.

Its just I found ways to make my own way through life without college because Ive always known what a bullshit scam it was, and Im doing well enough for myself. Most of the people who are saddled with debt, even though it sucks and is an extremely predatory tactic, did make the choice to go to college in the first place.
I don't even have a pla-
If da GOP hates it, den I'm all for it tbh
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Yes, because education should be a right, not a privilege.
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PMarth2002 posted...
Yes. I think college should be free to students and covered by taxes.

Thanatos_the_Great posted...
Yes, because education should be a right, not a privilege.

These.

I took the liberty of forgiving my own student loan by just not paying it.
If the rich dont have to pay their loans, why should students?
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Education is an investment in the population. A more educated populace is a more productive one. More productivity means more tax revenue.

It should absolutely be 100% fully funded by the government.
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Yes, and more than that:

All student loans should be capped at a small interest percent, like 2-5%, and the total amount a loan can cost is no greater than 50% more than the initial amount of the loan.

So if you were to take on a $100,000 loan, the most you could ever wind up paying is $150,000 on the individual loan.

The fact that loans have been handled the way they have where you can pay for years and wind up owing the same amount of money or more after 10/15/20 years is absolute insanity and the fact no politician ever ran against that insane system is almost as telling and insane.
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I believe education should be free ("wah wah tax dollars not actually free" at functionally no cost when divided amongst the populace. Shut up), and seeing as we are decades into making it the opposite of that I of course also support student loan forgiveness.

My debts are settled besides a few ~200$ loans left that I can't be assed to finish off now to save like 40 dollars in interest for the remaining interval (even if the method to do so were working, which it does not currently thanks to the administration's ratfucking), I'd get functionally nothing out of this. It should happen anyway.
Why not go all in?
I don't think education should cost anything.
no, but I believe the interest should be forgiven and going forward student loans should be nearly interest free. The point here is to invest in our future citizens, not to make money. Short term profit doesn't secure our economy.
Yes, fuck the rich. It's about time the common person just trying to do right and get an education should stop getting fucked. Education should be free anyway.
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Absolutely, student loan debt is crushing an entire generation financially
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MC_BatCommander posted...
Absolutely, student loan debt is crushing an entire generation financially

Donnie fixed it by making it so no one can afford to go to college anymore so they won't have to take out student loans! Checkmate, libs!
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I have no issues, but we should also reform the entire system so it's not just a one time bailout.
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If rich people don't pay anything back, neither does everyone else.
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Frosted_Midna posted...
If rich people don't pay anything back, neither does everyone else.

One of the biggest issues with student loan forgiveness as a political selling point is how much it forgives for very high income professionals. A lot of the loudest voices for it tend to be higher income earners

It's not a reason not to, but even the measures Biden tried were extremely unpopular
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No.

It doesn't fix the problem so we'd be right back where we started in a few years.

More should be invested in schools so they are A LOT cheaper as well as cutting uneeded administrative costs. Loans should be interest free. For those strapped with loans they have no possible way to pay back bankrupsy should be an option.
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MC_BatCommander posted...
Absolutely, student loan debt is crushing an entire generation financially
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yeah.
tbh, a lot of growing up was hearing teachers say "you need to go to college if you want to be successful" when college is a risk. there is absolutely no guarantee that you'll get a job with that degree.
I know people who have a master's degree and they work at a restaurant. Hell, I know someone who has a teaching license and she drives uber.

and to the people who say "oh, well you agreed to the loan, you have to pay it back"... what lender in their right mind will give $100k to a 17-18 year old kid unless it is predatory and has strings attached?
Nobody in their right mind is going to lend $100k to a kid for a house, a business, etc. because it's a stupid decision on the lenders part... but for school? Yeah, here's the money, have fun paying it back for the rest of your life.

So yeah, I think schooling should be either paid in full by the government or at least heavily subsidized. I do think education is important, and anyone who wants to further their education should be able to do so. I don't think people should be punished for trying to better their lives.
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NO2_Fiend posted...
No.

It doesn't fix the problem so we'd be right back where we started in a few years.



This. A one-time dept forgiveness is not a real plan. The entire college ecosystem and needs to be re-evaluated.

Alternatively I'd also support lowering the taxes for lower income brackets. That way everyone that did/didn't go to the college can get a benefit.
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Change the laws so that these sort of ultra predatory loans are no longer allowed. Now we recalculate the current loans with the new reasonable rules and rates. Anyone who has hit the new payoff level on their loan already will be clear of their debt. Everyone else just keeps paying under the recalculated terms. This seems reasonable to me. People still pay back the money that they borrowed but they are now doing it under fair terms.

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PMarth2002 posted...
Yes. I think college should be free to students and covered by taxes.

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The term forgiveness is what irks me. The applicants didnt do anything wrong to be forgiven if the loans were predatory.
Yes. 13 years from now my student loans will be forgiven and there's nothing they can do to spot it.

It's in the contract I signed.
I've paid 26 grand over 11 years on my 49k loan. I still owe 52k lol
As someone who was able to fully pay off my own student loans?

Yeah, fucking absolutely. Why the fuck should I care if a bank makes more interest off of you or not.
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*shrugs* I don't have a problem with it.

I was a lot more up in arms about it when I had just finished paying a bunch of them off myself, but that was a long time ago and it doesn't seem like as big of a deal anymore.

I get the whole thing with you agreed to it you should honor it, but look, these kids are like 17-18 years old when they get tangled up in this. What the hell do they know about money? Bare minimum, we should have a law where lenders have to sit them down and walk them through the payment schedule instead of just handing it to them knowing there's almost no chance they read it, understand it or ask questions about it.

"So your last payment is due when you're 50, and over that time you'll have paid back 238% of what you borrowed."

Would I hope that an 18 year old is mature enough to have an idea of what they're getting into? Sure. Do I find that realistic? Hell no.
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Error1355 posted...
As someone who was able to fully pay off my own student loans?

Yeah, fucking absolutely. Why the fuck should I care if a bank makes more interest off of you or not.

Same
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Error1355 posted...
As someone who was able to fully pay off my own student loans?

Yeah, fucking absolutely. Why the fuck should I care if a bank makes more interest off of you or not.
"B-b-b-but the banks might retaliate against the rest of us to make up for their lost interest!" - some dumbass chud somewhere
The name is wackyteen for a reason. Never doubt.
keeping politics out of it, I dont think you should agree to borrow money then decide its not fair you have to pay it back. No one forced you. Same idea as a credit card or bank loan.

no, you dont need a degree to make good money, unless there is a specific field you want to work in sure, but again thats a want not a need.
NO2_Fiend posted...
No.

It doesn't fix the problem so we'd be right back where we started in a few years.
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Keep in mind that current "forgiveness" is done after 25 years when people have paid off way more than their principal already.
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Again, when it comes to student loan forgiveness, a lot of it has been twisted by media.

Most of the forgiveness went out to people who went to well documented fraud schools like Art Institute or ITT. They lied to students about payment amounts, types of loans, payment plans, job rates, etc. Thats why they were forgiven.
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_____Cait posted...
Again, when it comes to student loan forgiveness, a lot of it has been twisted by media.

Most of the forgiveness went out to people who went to well documented fraud schools like Art Institute or ITT. They lied to students about payment amounts, types of loans, payment plans, job rates, etc. Thats why they were forgiven.
tbh i don't really care in regards to if they were lied to or not by a fraud school.

The whole system effectively groomed people into taking on these loans through a variety of FOMO, quick/knee-jerk life or career decisions, inducing delusions of grandeur, etc and then making people feel they had to go to college right away . And it all led to a market flooded by people with degrees with not nearly enough jobs. Almost as if by design.
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wackyteen posted...
tbh i don't really care in regards to if they were lied to or not by a fraud school.

The whole system effectively groomed people into taking on these loans through a variety of FOMO, quick/knee-jerk life or career decisions, inducing delusions of grandeur, etc and then making people feel they had to go to college right away . And it all led to a market flooded by people with degrees with not nearly enough jobs. Almost as if by design.

Yeah. Blame the system. It was broken by design. Thank goodness some people got relief because Betsy Devos screwed up so badly.
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LightSnake posted...
I have no issues, but we should also reform the entire system so it's not just a one time bailout.
This is the way.

On top of all the arguments made by others here, an educated society is well worth the cost even if we ignore that graduates on average earn significantly more money than those without a degree. It pays for itself in the long term and allows for far more people to actually earn their way to success rather than it just being based on your parents.
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Post #46 was unavailable or deleted.
Given that a bunch of already millionaires and politicians were allowed to take PPP loans and get those forgiven, yes.
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If DoED goes away then Trump has done what Biden couldn't and effectively forgiven most student loans
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Current Events » Do you believe in Student Loan Forgiveness?