Current Events > Thousands urge Biden to cancel student loans within 100 days

(+) Yeah! (+)

https://www.theguardian.com/money/2021/jan/21/cancel-student-loans-joe-biden?CMP=Share_AndroidApp_Other

Apparently cos "it's the right thing to do"

They shouldnt have gotten loans they wouldn't be able to pay back tbh

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lol

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Aren't they delayed until sometime in the Fall now?

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Those thousands?

College presidents...

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He should do it because the conservative meltdown would be hilarious

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Human_Username posted...

They shouldnt have gotten loans they wouldn't be able to pay back tbh

fuck this sentiment.

schools ask for thousands of dollars in tuition, and thousands more in books, housing, etc. all while promising to give you a huge step up out there and make millions of dollars.

then what? you get a joke working for amazon for minimum wage, no benefits, and no health care. oh and a big fat bill for 30000 dollars due RIGHT NOW

"JuSt DoNt Go tO coLLeGe"

shut the fuck up

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TheBlueMonk_ posted...

JuSt DoNt Go tO coLLeGe"

There ya go, sport

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What job promises millions of dollars?

The closest pitch I ever heard to that in high school was something like over the course of their working career, the average college graduate will make almost a million more than the average non college graduate.

I dont know how true that is, but saying almost a mil over the course of your entire freaking life is still a far cry from what you are saying.

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Human_Username posted...

They shouldnt have gotten loans they wouldn't be able to pay back tbh

Most ignorant comment of the day award

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Fucking bums

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That's just giving more to the Haves.

Master Kazuya posted...

Most ignorant comment of the day award...

...goes to anyone that thinks my statement is untrue. Why sign yourself into tens of thousands of dollars in debt if you aren't in a position to get yourself out of it?

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Human_Username posted...

They shouldnt have gotten loans they wouldn't be able to pay back tbh

Correct

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Human_Username posted...

...goes to anyone that thinks my statement is untrue. Why sign yourself into tens of thousands of dollars in debt if you aren't in a position to get yourself out of it?

by this logic no one would ever take risks in business etc

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Is responsibility ever going to be put onto the actual colleges for their absurd tuition costs?

Human_Username posted...

There ya go, sport

yeah fuck off

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Sorry for the mobile screenshot, but this is fitting.

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Nice gimme that handout

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Human_Username posted...

...goes to anyone that thinks my statement is untrue. Why sign yourself into tens of thousands of dollars in debt if you aren't in a position to get yourself out of it?

Do you want to be educated about the student loan crisis, or do you want to stay uninformed? I can point you to resources, you just have to ask.

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I have absolutely zero interest in canceling student loans before canceling medical debt, only one of those groups had a choice. Joe Biden needs to attack medical debt before anything else.

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I agree with this.

I also think there needs to be reform of the college finance market before any cancellation of debt.

*what the what, the quote was suppposed to be the above post

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Whats a few thousand opinions in a country of 350 million?

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Can I just say it's nice that the debate is between "should we just delay student loan payments through most of the year" or "should we forgive them outright?"

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Human_Username posted...

...goes to anyone that thinks my statement is untrue. Why sign yourself into tens of thousands of dollars in debt if you aren't in a position to get yourself out of it?

This argument kind of collapses in the context of a pandemic blowing up our economy. I could swallow the pill of student loans if only the middle class was thriving in spite of them. Right now because of the pandemic we are staring down the barrel of a new great depression. Student loans and a depression aren't going to mix very well.

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College shouldnt cost so much that you are forced to take out loans that most people cant pay back in their lifetime.

_Marka_Ragnos_ posted...

you are forced to take out loans that most people cant pay back in their lifetime.

this... isn't happening.

justaguy3492 posted...

Sorry for the mobile screenshot, but this is fitting.

That trolley comic it's such a perfect example of how screwed up this debate is. You're so focused on being able to flip that switch and say you made a difference that you completely ignore the fact that the track continues past the edge of the comic. People keep making the case that unless you slow the trolley down, as in find ways to cap or reduce university expenses, the trolley is going to continue to run over people. Patting yourself on the back and saying that you gave a handful of people money back now without preventing literally everyone else who has to take loans out every following year from falling into that same trap is a giant waste of time. and it might be even worse than a waste of time, because the illusion of having done something will push back coming up with an actual solution.

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_Marka_Ragnos_ posted...

College shouldnt cost so much that you are forced to take out loans that most people cant pay back in their lifetime.

Neither should houses, but easy loans caused prices to bloat up there as well.

Should cancel a good chunk of everybodys loans and refinance the rest to a very low interest.

That would be a fair compromise.

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I'd be fine with measures like canceling interest, lowering monthly payment amounts based on current income, and even maybe a percentage of "forgiveness," but poor financial planning does not need to mean you get something for free. If we eventually move to a free college system, then maybe that'll be something worth looking into at that time.

What about the rest of us who busted our ass just to pay them off?

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CARRRNE_ASADA posted...

Should cancel a good chunk of everybodys loans and refinance the rest to a very low interest.

As much a pain in the ass as it is to discharge student loans, they should be 0% forever, or no more than inflation.

Master Kazuya posted...

Do you want to be educated about the student loan crisis, or do you want to stay uninformed? I can point you to resources, you just have to ask.

I ask instead that you understand it's a self inflicted problem, nobody forced them to do it.

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At very least, all interest on student loans should be ended. I'd prefer all debt gone and college to be free, but that's a simpler step that there is no good argument against.

Will all the people who were responsible and paid their's off be getting a refund?
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voldothegr8 posted...

Will all the people who were responsible and paid there's off be getting a refund?

They should, but even if they don't that doesn't mean cancelling debt is bad.

The Trent posted...

by this logic no one would ever take risks in business etc

By this logic I should be reimbursed for lottery tickets I've lost on (though that's like $20, but that's beside the point).

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When will these people learn, Biden is a Democrat not a Socialist, the only thing they got was someone that wasn't Trump. They should just give up as it's all hot air as they shouldn't expect radical policy from them.
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Hop103 posted...

When will these people learn, Biden is a Democrat not a Socialist, the only thing they got was someone that wasn't Trump. They should just give up as it's all hot air as they shouldn't expect radical policy from them.

You're absolutely correct, although he has already done a couple things I didn't expect, like the keystone pipeline and delaying loan payments. But I don't expect much more.

Would be nice though :)

Some reform is needed, but outright cancelling debts seems like a bridge too far.

I'd much rather a freeze on loan interest past a certain point, staggered debt forgiveness milestones for timely payments, and the ability to declare bankruptcy if absolutely needed.

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voldothegr8 posted...

Will all the people who were responsible and paid their's off be getting a refund?

Why should they?

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Gwynevere posted...

Why should they?

Because they were also victims of a bad system? Why shouldn't they get represented?

RadiantJoyrock posted...

Because they were also victims of a bad system? Why shouldn't they get represented?

Because they're no longer under the burden of debt during a pandemic

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I don't see why they shouldn't

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Gwynevere posted...

Because they're no longer under the burden of debt during a pandemic

Yes now they have the burden of having tens of thousands of dollars less than if they sat around and made no payments waiting for a no penalty cancelation.

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Gwynevere posted...

Because they're no longer under the burden of debt during a pandemic

But they were unfairly burdened by a debt prior. We shouldn't ONLY focus on people currently suffering, they just need to be priority.

I honestly don't see what the big deal is.

presidents have been dumping trillions into the banks for years. Fuck, Trump dumped the exact amount needed to cancel all student loan debt nationwide right at the start of the pandemic, in an afternoon. In a desperate bid to prop up wall street, that worked for about ten minutes. So much for "it's not economically feasible."

What difference does it make if we just dictate where the banks apply those funds? we're funneling the cash either way. may as well actually help people at the same time.

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another campaign promise for biden to welch on

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SK8T3R215 posted...

Yes now they have the burden of having tens of thousands of dollars less than if they sat around and made no payments waiting for a no penalty cancelation.

\_()_/

For the record, I'm not strictly opposed to the idea, but it'soften brought up in bad faith by conservatives using loaded language like "people who were responsible and paid their debts" in a very thinly veiled attempt to paint those asking for loan forgiveness as lazy freeloaders

So forgive my skepticism when I see that brought up

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