Current Events > Biden needs to cancel student loan debt ASAP

(+) Yeah! (+)

Cancel it all, and reform what the university model/structure looks like in the US. Students are getting robbed on tuition for college degrees that arent even necessary anymore.

What are the chances yall think itll happen? Progressives like AOC are starting to put even more pressure on Biden to cancel student loan debt.


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People like Biden would legitimately rather lose than do this. Their agenda is to make sure shit like that doesn't happen or happens in the most bullshit insignificant way possible. Think of that Kamala Harris plan for like partial forgiveness for people who operate a business in a disadvantaged area for three years

They can apply all the pressure they want but it won't matter if Biden and the rest of the dems would rather lose.

The longer his tenure goes on the more convinced I am that Biden's entire plan is just to get through the presidency with as little noise as possible

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Yeah figuring out Bidens actual agenda has been tricky and frustrating

the Democratic Party is definitely fucked in 2024 if he doesnt starting bending to the progressives.

hell we might be screwed in 2022

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MFBKBass5 posted...

Yeah figuring out Bidens actual agenda has been tricky and frustrating

the Democratic Party is definitely fucked in 2024 if he doesnt starting bending to the progressives.

hell we might be screwed in 2022

The Democratic Party literally called in all the shots to screw over progressives in 2020. What makes you believe they'd bend now?

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This is just something that doesn't happen in Murrica, simply because it's objectively a pure left-wing action. In Murrica you can have either regular right-wing or batshit insane right-wing.

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The government ends up owing $60 billion a year after all the money that's spent collecting on student loans and defaults. Yeah, it costs more money than they're taking in. And it's not like it's something that happened with the pandemic, it's been that way since at least the start of 2018.

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gunplagirl posted...

The government ends up owing $60 billion a year after all the money that's spent collecting on student loans and defaults. Yeah, it costs more money than they're taking in. And it's not like it's something that happened with the pandemic, it's been that way since at least the start of 2018.

really? Thats fucking crazy. Source?


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0% chance at this point

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They should just stop giving out loans.

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Flauros posted...

They should just stop giving out loans.

sure, as long as all jobs stop requiring college degrees

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I dont think he ever said he would forgive all student loans

That was just something AOC pushed to get her upper middle class twitter fans excited
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Bernie loves Disney

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"Why won't biden just do it? He must not want to. That's the way it works, right?"

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Don't take the loan if you're not going to finish the degree or unable to get a job that will be able to pay for it. Do you guys ever get tired of spouting the same tired points everyday?

Real issues to focus on is shit like we need to stop foreign investment companies from stepping in and buying land in the USA for use in real estate which jacks up the value of housing. We need to make it to where business ventures don't affect the value of housing. It's ridiculous. If some big business comes into a rundown part of the USA and buys land and builds a facility, it should NOT effect residence pricing.

There needs to be market control. Real estate value has skyrocketed exponentially in recent years and it has everything to do with real estate being more and more profitable and nothing do with supply vs demand. There's more homes than families in the USA at this point.

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MFBKBass5 posted...

really? Thats fucking crazy. Source?

Never mind it's more nuanced than that. The government also took into account lost revenue from defaulted accounts when calculating that amount. But they also insist they're going to earn all of the $1.9 trillion in outstanding debt on loans. So basically, it's like when Netflix says they're losing money from people account sharing, when in reality they'd never have gotten any money from a good portion of those people getting the service for free, because they'd just pirate the stuff or see it elsewhere for free. Hence why the amount is accurate in some ways but not in others, as it depends entirely on if you count debt owed as future income or not.

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Wasn't it a campaign promise that he'd cancel like $50k per person?

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RoseLuck2X22462 posted...

Wasn't it a campaign promise that he'd cancel like $50k per person?

Yes.

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gunplagirl posted...

Yes.

Don't help the troll out by affirming misinformation.

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RoseLuck2X22462 posted...

Wasn't it a campaign promise that he'd cancel like $50k per person?

10k iirc

Perascamin posted...

Don't take the loan if you're not going to finish the degree or unable to get a job that will be able to pay for it

Bold thing to say after a pandemic that has shifted the entire global economy

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Lmao bro when Dems get beat like they did on Tuesday they don't do some big sweeping gesture to get the progressive base excited, they instead move even further right doubling down in their quest to win over the mythical moderate republican voter.

Biden ain't gonna do shit about student loans until 2024 where he'll make some vague promises that amount to nothing.

The only reason Biden even ran was to get Trump out of office, by his own admission.

He has no long-term plans for America's future. Most of these boomers don't. They're just trying to maintain their power until they croak.

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President Manchin and Vice President Sinema said no

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Perascamin posted...

Don't take the loan if you're not going to finish the degree or unable to get a job that will be able to pay for it. Do you guys ever get tired of spouting the same tired points everyday?

Real issues to focus on is shit like we need to stop foreign investment companies from stepping in and buying land in the USA for use in real estate which jacks up the value of housing. We need to make it to where business ventures don't affect the value of housing. It's ridiculous. If some big business comes into a rundown part of the USA and buys land and builds a facility, it should NOT effect residence pricing.

There needs to be market control. Real estate value has skyrocketed exponentially in recent years and it has everything to do with real estate being more and more profitable and nothing do with supply vs demand. There's more homes than families in the USA at this point.

Agreed there is so much bigger fish to fry then a one-time loan forgiveness that doesn't help anybody but irresponsible people. If you want to fix education cost fix that. Do something that's long term. Then the new batch of students can get by with no loans. But don't dump a whole bunch of money to fix people's mistakes and get nothing else out of it.

These guys who racked up too much debt are making too big of a fuss over it just to get more money in their own pocket.

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Squall28 posted...

Agreed there is so much bigger fish to fry then a one-time loan forgiveness that doesn't help anybody but irresponsible people. If you want to fix education cost fix that. Do something that's long term. Then the new batch of students can get by with no loans. But don't dump a whole bunch of money to fix people's mistakes and get nothing else out of it.

These guys who racked up too much debt are making too big of a fuss over it just to get more money in their own pocket.

lmao irresponsible people

shut the fuck up

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I refuse to take Mal seriously

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MFBKBass5 posted...

lmao irresponsible people

shut the fuck up

Go to public schools
stay in state
work harder to get a scholarship
don't get a masters without a good financial plan

But no, people gotta take the expensive options and then bitch about the government later. Those are choices THEY made. Don't pretend like they're some helpless victims.

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Squall28 posted...

Don't pretend like they're some helpless victims.

As long as you stop pretending life is a videogame where we compete for high scores.

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Squall28 posted...

Go to public schools
stay in state
work harder to get a scholarship
don't get a masters without a good financial plan

But no, people gotta take the expensive options and then bitch about the government later. Those are choices THEY made. Don't pretend like they're some helpless victims.

youre a delusional asshole whos so out of touch with reality that you dont even realize how stupid the shit youre spewing out is.

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MFBKBass5 posted...

youre a delusional asshole whos so out of touch with reality that you dont even realize how stupid the shit youre spewing out is.

No I'm just not an irresponsible idiot. I grew up in a poor family and guess what?

I went to a public in state school and got a scholarship by getting good grades. Then I chose not to pursue a master's because of the the costs. And surprise, surprise, I'm not screwed by debt.

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Shut down the Directloans program entirely, and predatory schools wither and die immediately.

Squall28 posted...

No I'm just not an irresponsible idiot. I grew up in a poor family and guess what?

I went to a public in state school and got a scholarship by getting good grades. Then I chose not to pursue a master's because of the the costs. And surprise, surprise, I'm not screwed by debt.

nah, youre just delusional.

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MFBKBass5 posted...

nah, youre just delusional.

Making responsible decisions=delusional

Got it

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Squall28 posted...

No I'm just not an irresponsible idiot. I grew up in a poor family and guess what?

I went to a public in state school and got a scholarship by getting good grades. Then I chose not to pursue a master's because of the the costs. And surprise, surprise, I'm not screwed by debt.

You read this and think you have meritorious frugality. I read this and think you got locked out of pursuing your dreams because of prohibitive costs.

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Squall28 posted...

Making responsible decisions=delusional

Got it

no you assuming everyone has the same exact set of circumstances is what makes you delusional.

but its ok youre just an ass so your opinions really dont matter to anyone here and we can all see it clear as day except for you.

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Questionmarktarius posted...

Shut down the Directloans program entirely, and predatory schools wither and die immediately.

Ah yes, students only take out loans for predatory schools, after all

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Questionmarktarius posted...

Shut down the Directloans program entirely, and predatory schools wither and die immediately.

unlikely. more likely: private loan firms fill the void (with higher rates)

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Tyranthraxus posted...

You read this and think you have meritorious frugality. I read this and think you got locked out of pursuing your dreams because of prohibitive costs.

I mentioned in a previous post that I'm all for long term investments to reduce costs so people don't have to make the same decision.

My point is that loan forgiveness itself is just a one time thing that has no RoI for the future. It's just a money dump, and will be a stimulus at best. Money would be better spent on cost savings initiatives that can reduce education costs

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I got screwed by my school in my last year. My degree is a forced undergrad/grad 5-year program, so you get your masters and bachelors at the same time. Doing only 4 years and quitting means you get nothing. They promised me that they would pay my 3rd, 4th, and 5th year completely (minus some costs here and there like books, but they aren't that high compared to the cost of tuition), and I made sure to ask again and again if that would be the case. My 5th year comes, and the financial aid office tells me the grant actually doesn't apply for my 5th year after all, and that the school made a big whoopsie by telling me it would be paid for.

Thanks for the extra $32,000 in student loans!

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Sackgurl posted...

unlikely. more likely: private loan firms fill the void

That's how it was before 1992 or so, yes.
Sketchy "technical institutes" existed already, but they hadn't quite crossed the scam-event-horizon yet. No-questions-asked easy money is what enabled outright fraudulent schools to exist, and is why the tuition at public universities goes up all the time for minimal (or any) improvements besides administration getting nicer houses.

You would be able to bankrupt out of a private loan. The reason student debt is such a problem is because you cannot bankrupt out of it. The money is guaranteed by the government.

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Squall28 posted...

Money would be better spent on cost savings initiatives that can reduce education costs

Porque no los dos?

Yeah, we live in a competitive autocracy where the president and the judges have most of the actual power and the legislature maybe passes a continuing resolution and one massive bill each year because that's the only way Senate rules allow for a simple majority vote.

The Democrats pretend we live in a healthy democratic society, so they simultaneously fail to accomplish much and also don't even try to turn our competitive autocracy into a healthy democracy. It's like stapling your dick to your thigh and blaming the left because it hurts.

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Loan forgiveness helps past students, and federally funding university and college systems helps the future.

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ElatedVenusaur posted...

It's like stapling your dick to your thigh and blaming the left because it hurts.

https://twitter.com/ClickHole/status/1095789712642633728

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ElatedVenusaur posted...

Yeah, we live in a competitive autocracy where the president and the judges have most of the actual power and the legislature maybe passes a continuing resolution and one massive bill each year because that's the only way Senate rules allow for a simple majority vote.

This is what we seem to actually want, though - each administration to immediately "undo" whatever bullshit the last one did, then ramrod its own bullshit agenda, with little regard for how it's accomplished.

WeeWeiWiiWie posted...

Loan forgiveness helps past students, and federally funding university and college systems helps the future.

This is true. Statistically speaking, college graduates make way, way more money than non college graduates. Forgiving all student debt is essentially helping a segment of America that is already making a decent living (obviously this doesn't apply to everyone, but it's mostly true).

If we want to help people, we need to make college more affordable (and make some schools/courses free) and offer better education/care for children while they are very young. That will actually make America better and provide better outcomes than just forgiving debt.

I've been happy that this is the general approach Biden seems to be taking, because it's much more fact based. Hopefully something can get passed.

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I was saying do both. Which, btw, is the overall spirit of Biden's agenda.

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The "four year college" is the problem.
Shunt all the gen-ed crap to local community colleges, and leave the specialist classes for the universities.

Questionmarktarius posted...

The "four year college" is the problem.
Shunt all the gen-ed crap to local community colleges, and leave the specialist classes for the universities.

Nah, having pedagogical control of the curriculum is pretty important. This will end up hurting students. So will all the jazz about loans. The issue is really simple, it just shouldn't cost money to get an education. That is a standard that our federal government should be held up to.

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