Current Events > If Biden cancels student debt. Do the people who paid them off get refunds?

(+) Yeah! (+)

Or we get nothing? It seems it is going to happen since the progressives keep talking about it.

https://twitter.com/Ilhan/status/1333462351916523525


---

No, why should they?

---

We get to be happy that other people will benefit from it

not everything has to directly help you to be a good thing

---

How will colleges make money then?

---

TheGoldenEel posted...

We get to be happy that other people will benefit from it

not everything has to directly help you to be a good thing

---

TheGoldenEel posted...

We get to be happy that other people will benefit from it

not everything has to directly help you to be a good thing

---

Veggeta X posted...

How will colleges make money then?

The logical first step of stop farting out easy loans is never going to happen

It's not gonna happen so it's a mute point. Biden can't do it with executive order and it's not getting through the senate.

---

Solid Snake07 posted...

Biden can't do it with executive order

Are you sure?
DOE is an executive-branch department. The President declaring "loans forgiven!" may well be an executive power.

Shitty bandaid solution, go after the people/entities charging exuberant amounts if anything is to be done.

TheGoldenEel posted...

We get to be happy that other people will benefit from it

not everything has to directly help you to be a good thing

How does sending the message that it's ok to break legally binding contracts, consequence free, helping anyone?

Not to mention, are people being held at gunpoint to take out these loans?
---

Solid Snake07 posted...

It's not gonna happen so it's a mute point. Biden can't do it with executive order and it's not getting through the senate.

He most likely can forgive federal student loans through EO

---

Questionmarktarius posted...

Are you sure?
DOE is an executive-branch department. The President declaring "loans forgiven!" may well be an executive power.

It's not as simple as "loans are forgiven" and poof they're gone

Those loans aren't owned by the government, they're guranteed by the federal government to the banks who do own them.

---

The problem with forgiving all student debt is that the reasons it got so bad in the first place all still exist and a new student debt crisis will surface before long

---

stop federally subsidizing student loans and make them dischargeable under bankruptcy. And stop telling everyone to go to university, make trades more acceptable.

Im not even asking for total forgiveness just give us a fair interest rate

---

Solid Snake07 posted...

mute point

*moot point


---

Damn_Underscore posted...

The problem with forgiving all student debt is that the reasons it got so bad in the first place all still exist and a new student debt crisis will surface before long

The goal of this is to stimulate the economy in the short term as well as protect people during COVID from excess costs when people are at risk of being evicted.

Also "this won't solve the student debt crisis forever" is just an excuse to just do nothing instead.

---

King_Hutton posted...

He most likely can forgive federal student loans through EO

I'd say he most likely can't overstep congress who typically sets spending and budget policy

---

Solid Snake07 posted...

I'd say he most likely can't overstep congress who typically sets spending and budget policy

Well if a random person on CE says it

---

Questionmarktarius posted...

The logical first step of stop farting out easy loans is never going to happen

and then what, people have to try to save up enough money for college while living on whatever job they can get with a high school diploma?

---

thronedfire2 posted...

and then what, people have to try to save up enough money for college while living on whatever job they can get with a high school diploma?

I think people want all college to be free or something.

---

Flauros posted...

I think people want all college to be free or something.

Yes.

Is this a post worthy of accidentally leftist or something?

---

voldothegr8 posted...

How do-

Shh shh shh shh shh shh shh shh. Quiet. Don't start.

---

TheGoldenEel posted...

We get to be happy that other people will benefit from it

not everything has to directly help you to be a good thing

Hot take: Its possible to be happy for others on one hand, but disappointed on the other if you made an extra effort to pay them off early and could have used the money elsewhere.

---

King_Hutton posted...

Well if a random person on CE says it

I mean, it's kind of high school level civics we're talking about here

---

Omar married her brother

Flauros posted...

I think people want all college to be free or something.

I want a free car.

Solid Snake07 posted...

I mean, it's kind of high school level civics we're talking about here

Look man I dont know what to tell you if you dont think the federal government is more nuanced than your high school civics class

---

Solid Snake07 posted...

Those loans aren't owned by the government, they're guranteed by the federal government to the banks who do own them.

Direct Loans are, maybe.

King_Hutton posted...

Look man I dont know what to tell you if you dont think the federal government is more nuanced than your high school civics class

Sure it is. Gonna be pretty hard to understand much of that nuance without even basic knowledge like what each branch of the government does.

---

Yeah sure why not

---

Solid Snake lives in a world where it's all the pundits, Biden campaign people, etc. who are wrong about whether Biden hypothetically can do this and not him.

---

Anteaterking posted...

Solid Snake lives in a world where it's all the pundits, Biden campaign people, etc. who are wrong about whether Biden hypothetically can do this and not him.

Politicians are liars and most pundits are idiots who look good on camera reading what the people upstairs tell them to.

I don't really care if you like or even believe what I'm telling you tbch

---

---

Why stop there? Forgive Credit card and morgages as well.

---

i told my fiancee to stop paying, hopefully biden doesn't cuck the working class.. altho i've only paid <5k for 3 degrees + 4th in progress

---

Solid Snake07 posted...

Politicians are liars and most pundits are idiots who look good on camera reading what the people upstairs tell them to.

https://www.youtube.com/watch?v=CtFLzGRfVnA

Yes, we know how this is going to work out.

1. Propose something infeasible.
2. Blame the other party of stonewalling, for pointing out that it's infeasible.
3. Do something half-assed that looks like you're accomplishing something, but just makes things worse.
4. Claim victory.
5. Blame the other party when it inevitably goes sideways.

thronedfire2 posted...

and then what, people have to try to save up enough money for college while living on whatever job they can get with a high school diploma?

Theres plenty of great jobs out there you can obtain with just a HS diploma. Likely wont be any sorta comfy office job though but its good pay non-the-less.

---

So many cowards posting shit takes with their old alts.

---

This "ITS NOT FAIR!" mentality is annoying. so we shouldn't make things better just because it used to be harder? FOH, please.

---

unclekoolaid73 posted...

Why stop there? Forgive Credit card and morgages as well.

Hell yeah, now we're talking. I'm tired of spending a 5th of my income on my mortgage every month. It's not fair to keep me under this crippling debt I willingly agreed to

---

NightMarishPie posted...

this

---

I do think there ought to be a stimulus for people who paid of some $X amount within a certain Y time period, because the people who ate lots of sweet potatoes and paid their loans aggressively also could/should/ought-in-a-just-world have been able to make at least some of those payments toward a car/house/nursery/business/stock investment/entrepreneurial venture if the economy were less rigged.

To totally just spitball numbers, I'd imagine something like "if you paid back more than $95,000 between 199X and 2015, you will receive a [$5,000 to $15,000, depending on certain metrics blah blah] stimulus check." Not a full rebate, but definitely something that acknowledges the monetary output that could have gone to more relevant economy-building things.

---

VanananaHeyHey posted...

I do think there ought to be a stimulus for people who paid of some $X amount within a certain Y time period, because the people who ate lots of sweet potatoes and paid their loans aggressively also could/should/ought-in-a-just-world have been able to make at least some of those payments toward a car/house/nursery/business/stock investment/entrepreneurial venture if the economy were less rigged.

To totally just spitball numbers, I'd imagine something like "if you paid back more than $95,000 between 199X and 2015, you will receive a [$5,000 to $15,000, depending on certain metrics blah blah] stimulus check." Not a full rebate, but definitely something that acknowledges the monetary output that could have gone to more relevant economy-building things.

I think cutting stimulus checks to people *is* outside of the ability of just the executive branch.

---

Anteaterking posted...

I think cutting stimulus checks to people *is* outside of the ability of just the executive branch.

Yes it is.
Loan forgiveness would be too, if it involves writing checks instead of just attacking the ledger with a giant eraser. Even the eraser thing is a pretty big "maybe?".

Hey hey hey, remember that Solid is a proud businessman and captain of industry, he knows these things

---

Student loan forgiveness is literally a hand out to rich people.

Broseph_Stalin posted...

Student loan forgiveness is literally a hand out to rich people.

https://www.youtube.com/watch?v=5hfYJsQAhl0

---

Broseph_Stalin posted...

Student loan forgiveness is literally a hand out to rich people.

I disagree.
It's a handout to the snooty universities and shady trade schools that got away with bloating up costs when the money was easy, via covering the burnouts and irrelevant-degree holders they suckered.