Posted on 07/01/2023 7:30:51 AM PDT by Diana in Wisconsin
The Supreme Court struck down President Biden’s student loan forgiveness plan on Friday, a measure that would have wiped out nearly half a trillion dollars in debt for millions of Americans.
The decision will impact the nearly 700,000 Wisconsinites that have federal student loan debt -- a total that adds up to more than $20 billion.
Sid Bagley is one of those people who took out a federal student loan. He went back to school at age 45 to get a business administration degree and better himself.
“I hated my job so much I made the initiative to go back to school and do something better,” said Bagley.
But going back to school wasn’t cheap.
"I pay about $220 bucks a month in student loan repayment, which is also the same amount my rent went up this year,” Bagley said.
Since then, he’s been working hard to pay those loans back.
"I can see that there's a light at the end of the tunnel, it's just having to work so hard and so much just to get there."
Biden's plan to shave $10,000 off that total meant a lot to Bagley, but Friday morning's Supreme Court decision turned that around.
Those opposed to loan forgiveness say the decision is fair, however.
"How on earth can anyone say it is fair for them to pay for other people's education?" Republican Congressman Derrick Van Orden tweeted.
Bagley disagrees.
“They think we're privileged, when — look at me, I'm wearing safety yellow and stuff, I'm working my butt off, I work three jobs just to make a decent living for myself,” said Bagley.
President Biden said Friday afternoon that he is not giving up the fight to forgive student debt, saying his administration is working on a new plan as payments are set to resume in the coming weeks.
The answer: “Next time your parents say to get a degree in something that pays...do it”
“When I was growing up, I had one toy to play with. It was a stick and I had to share it with eight siblings.”
Me too! When my siblings asked me to hand over the stick so they could play with it I beat them badly with that stick!
It’s cool but then they got my crazy genes.
They wanted my wife and I to get them too but we declined
Can we not openly say that this is about? It’s about BUYING the votes of young, foolish voters. After all, if they weren’t foolish, they would not have incurred a six-figure debt in order to major in something that qualifies them, at best, to make coffee at Starbucks.
The opportunities are out there, you just have to think a little outside of the box and be willing to put in the work.
My story is almost identical to yours —company had a tuition reimbursement program and I also carried no student debt. The company got back so much more than what they paid for my degrees.
All looking for a job: Try to find a company that offers tuition reimbursement. I think that, along with health insurance, is probably the most important perk that could be offered. That perk offers you a future that no one can take away from you!
“Companies don’t do that anymore for the reason you lined out.”
No, employers still offer tuition assistance, both my current and former employer still offer it. However the IRS did impose limits on the amount that could be paid annually as a benefit, which means that employees can no longer receive enough to cover most full-time tuition costs.
So the employee either needs to pay some of the annual cost out of pocket, or take 8 years to earn a 4-year degree.
See how that works? The capitalist system provided a college degree benefit, and the government came in and messed it up.
Collateral:
Duel signatures.
1. The college/institution chief financial officer.
2. The student.
The physical plant defaults and becomes liable at term.
Sadly, absolutly nothing in the current law or in this struck-down measure holds colleges and universities accountable for anything. "Big-Ed" is one of the largest federal subsidized industries.
Big Ed rips these kids off something awful
Here is what I have seen.
Yes, Trump’s tax reform ended the rebates for tuition, but in the last four companies I have been with all have either ended tuition support or limited to only higher level managers.
Why? Because the accounts figured out that if you pay for a degree, that person will most likely end up leaving for a better paying higher level job. The current company will not hold open a position till that person gets their degree completed.
I remember getting almost through a masters, only to have my then company cancel my classes (with out telling me) because
“We no longer see the value in training our competition.”
Are there companies that provide tuition support? I suppose there is. But I also know that the majority have quietly ended it because the costs don’t justify the reward.
Most of them will never pay them off anyway. Outrageous, even more so for the ones in high paid professions.
He is only paying $220 a month.... His phone and internet bill and cable bills probably total more. Plus he probably eats out a lot like my younger co-workers would and then complain how little money they had at the end of the month.
Is he working full time? Working 3 jobs doing what?
He is in Wisconsin. The costs are much lower then in California where I am now. He is wearing a Hooper t-shirt. A full time job there should pay well.
Hooper Corporation 24-Hour Plumbing, Heating & Cooling, Fire Protection Service
Most any full time job pays $15/hr and up. I started in a helpdesk job in 2003 that started me at $20/hr and they call those people who do that ‘helpdesk monkeys’ as most people can do the job. He must be turning down jobs just because he hates working. I worked at places and with people that I did not like but put up with it as I had bills to pay. In short like most people : )
He could pay more back but was hoping everyone would have to pay his bills for him.
Universities have BILLIONS in endowments. That money can pay off the loans.
Bump to say something intelligent later.
They were never off the hook.
Now they owe interest on unpaid interest. By not making payments more debt was incurred
I don’t understand hateful. Most of us are old and experienced. Trying to teach inexperienced ( ie dumb) kids who don’t understand college is not high school and working toward a goal is WORK.
They’re out of the nest and hard knocks will happen, like student loan debt and no one telling them maybe borrowing $250,000 for a masters in social work at $50,000 a year might not be the best degree.
Maybe the trades and later college?
No hate but how does one awaken stupid?
? Are you reading what you wrote. You don’t think it’s hateful? W
Ow
Oh blow off. I’m tired of people deciding offensive and hateful content. Go judge someone else you fuddy duddy
I’m tired of people dissing naive poorly guided kids who are getting ripped off by academia taking advantage of them
Then wake them up. but do NOT tell me my content is hateful. You sound like a whiny milquetoast spoiled child.
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