Posted on 08/25/2022 4:02:03 PM PDT by ChicagoConservative27
On Wednesday, I pulled up my go-to news site for some midday procrastination. When I saw the headline about President Joe Biden announcing student-debt cancellation, I immediately texted my sister. After a flurry of messages about what we knew, she summed up what we were both feeling: This is literally life-changing.
It wasn't an exaggeration. I graduated from an expensive private college 12 years ago, and I still pay hundreds of dollars each month in student loans. My sister learned a bit from my mistakes. She graduated from a community college last year with a career-focused associate's degree in healthcare. But she still had plenty of student loans. When we talked about it, I could see the anxiety I'd felt for more than a decade reflected on her face.
(Excerpt) Read more at insider.com ...
If she has a $100,000 debt and has taken advantage of the payment “moratorium” and doesn’t plan to make a payment until January of 2023 that $10,000 will most likely not even cover the interest on the deferred payments. Courses on compound interest should be a mandatory high school graduation requirement.
So everyone else gets to pay for this guys kids ?
Commie theif parasites.
Sure, NOW she can start saving for her kids’ future.
Tax payers revolt coming up, met by 87,000 armed tax collectors. How convenient.
Buying votes with our money. Kill em all and let God sort em out.
And you think I should have to pay for your idiocy!!!!
No way . . . this grifter did not go to engineering school.
She needs to grow up, be responsible, pay her d@mn bills. Her debts are her problem.
“I had no idea of the consequences of borrowing $100,000.”
During the Obama administration the federal government took over administering and providing college loans from banks. It would not surprise me that Department of Education administrators, as well as college financial aid counselors, are not telling students about the implications of taking on significant debt. Clearly parents are not teaching life skills.
It is time to get the Department of Education out of the student loan business. Put it back in the hands of banks, or let the colleges with huge endowments issue loans to students they find deserving. The taxpayer should have zero involvement in issuing, guaranteeing, collecting, or forgiving college loans.
The purpose of college is to teach young people the skills needed to be productive citizens. One place to start is teaching them about personal finance, including the consequences of debt.
When people saved up for retirement they didn’t know they’d be taxed to pay for this jackasses kids.
Where are all those articles that promoted college after high school ... that people who graduate from college earn more over their lifetimes than those that do not?
This is another demonkkrap party vote-bribe before the Nov 2022 selection date. They need enough their leftist, broke, groomers and grifters besieged by inflation and illegal aliens to show up at the polls .... to make the election fraud and rigging to have some scintilla of legitimacy.
LOL!! You might have to wait a while for this brainiac to figure that out.
I paid mine off. What a crock...
If I am as an idiot, I wouldn’t be advertising it for the entire country.
My thoughts exactly.
This generation of Americans are the worst examples of losers ever.
They deserve the slavery that is coming.
Just wait until these people realize, that, if their school loan debt is reduced, whatever the amount may be, the IRS would then consider the reduced amount as income, that they have to include on their taxes and pay any taxes that it may cause to be due.
There is a max amount which is well over the cost of tuition to help with living expenses. Anyone who has worked in financial aid can tell you about people who have financed cars, vacations and other lifestyle choices with student loans.
The only person I know whose life might be changed has a really nice house and travels extensively for leisure. I bet the recent girls trip to Cambodia and Thailand could was less than what she owed.
Figures, I just read that this forgiveness is tax free. They will not have to include it on their taxes.
My kids worked their way through low-cost public colleges so that they could graduate debt free. I should have told them to borrow away and go to expensive private colleges with most of their friends from high school.
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