Posted on 08/12/2021 12:21:58 PM PDT by PoliticallyShort
Last Friday, the Department of Education announced another extension of COVID-19 emergency student loan forbearance, which allows the 92 percent of student debtors whose loans are backed by the federal government an additional six months without making any payments.
Loan forgiveness is often packaged as a benefit for those on the lower half of the income spectrum. Senator Elizabeth Warren, for example, tweeted her two cents on Monday, calling for “#CancelStudentDebt.” During her failed run for the presidency, her campaign website justified total cancellation as a benefit to the working and middle classes. Avowed class warrior Bernie Sanders has also made student debt cancellation a centerpiece of the new economic deal he hopes to offer.
This all sounds reasonable, especially if you assume that poor or working-class people hold the bulk of student debt. But all loan forgiveness proposals overwhelmingly benefit the upper middle class—the children of America’s wealthiest quartile—along with the colleges and universities that have raised tuition at a rate far outstripping inflation, in part to fund a massive “equity”-oriented administrative bureaucracy and invent new academic disciplines to deconstruct venerable American institutions. Graduates of these institutions carry the ideology of social justice to their careers in government, education, the media, and corporate America.
Loan forgiveness is the regressive grift of the woke revolution.
(Excerpt) Read more at americanmind.org ...
Guess my wife and I were real chumps for saving for 18+ years so out kids could graduate without debt.
Fortunately, my daughter is highly skeptical and my son is leaning toward not going.
But all loan forgiveness proposals overwhelmingly benefit the upper middle class—the children of America’s wealthiest quartile—along with the colleges and universities that have raised tuition at a rate far outstripping inflation, in part to fund a massive “equity”-oriented administrative bureaucracy and invent new academic disciplines to deconstruct venerable American institutions. Graduates of these institutions carry the ideology of social justice to their careers in government, education, the media, and corporate America.
Loan forgiveness is the regressive grift of the woke revolution.
***Gobbledegook written by a Humpty Dumpty.
Hard-Working Plumber Looking Forward To Paying For His Neighbor’s Gender Studies Degree
https://babylonbee.com/news/hard-working-plumber-looking-forward-to-paying-his-for-his-neighbors-gender-studies-degree
If they forgive student loans I am going to IMMEDIATELY demand my student loan be retroactively forgiven.
Heck, I might do it for my mortgage too!
Car loan... finance some furniture...
Both my son and I have student loans. Each month I make a payment. When payments start back up, my son and I will continue to make monthly payments. Don’t see what the issue is.
Now, loan forgiveness? If you give it to one student, you have to give it to everyone regardless of social stature, ethnicity, religion, sexual preference. And what about those who had student loans in the past? Do they get a check in the mail?
If you take a loan, you pay your loan. Period!
How stupid of me to have repaid my student loans.
I just could have taken and stolen the money instead
I find it interesting that a 17 year old can get a $200,000 student loan, but will be denied a $20,000 loan to start a business.
If they forgive the loans they should delete the diplomas, licenses and certifications, “just like it never happened”!!!!!!
Somebody, usually parents, had to cosign that loan. The 17 year old tells his parents he’ll pay it back. Nobody did the math to figure out the kid won’t be able to pay 2500 a month at first. Then the parents have to. But my baby had to go to his dream school, instead commute to the state school or start at community college.
I flat out told them that I had no intention of funding college education for my children and you should have seen the reactions I got!
An education paid for by mom and dad is no education at all. But I guess the keg parties, the spring breaks and all the other partying is much appreciated by the children who receive it.
Not on my dime.
All my grown children are doing very well and they have all done it on their own hard work and effort.
It will eventually come down to white people need not apply for forgiveness
You are correct. The point I was trying to make, and rather poorly I see, is that there is so much emphasis on college and almost none on trades and entrepreneurship.
I read through more job applications and resumes than I would like to admit and my observation is that there is a correlation between the folks with degrees in soft-sciences and humanities and jobs in warehouse, retail sales, and the food industry (cashiers, baristas, forklift, etc).
More emphasis needs to be placed on high paying blue collar jobs and on starting a business. But that would lead to independence, and the government can’t have that.
So we will be getting reparations for the student loans we and our boys repaid?
Couldn't agree more.
In my case, my daughter has lived at home the entire time (Temple U is a 12 minute subway ride) and she's skeptical.
Otherwise, a bigger waste of money, I can't imagine - although her degree (Creative Writing) is not one I'd have chosen. But, she'll get "the secret knock to the tree-house" with that degree, and we'll be done with it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.