Posted on 09/30/2022 10:12:08 AM PDT by SeekAndFind
Edited on 09/30/2022 11:31:42 AM PDT by Admin Moderator. [history]
Joe Biden is doing all he can to detach the cost of an education from the value of an education.
Amid the stir caused by President Joe Biden’s plan to cancel student loan debts, far too little attention has been paid to another far-reaching reform: the administration’s change to a lending program known as income-driven repayment (or IDR). If widely applied, Biden’s proposal would provide additional relief to millions of borrowers — and make the U.S. student loan system even costlier and more dysfunctional than it already is.
(Excerpt) Read more at americanthinker.com ...
Not by accident. The Marxist Democrats will do anything to bring about the destruction of this nation and fulfill their commitment to Agenda 21's great reset.
This is just another midterm gimmick. After that the program can be nullified by the court and Biden will simply claim the evil courts must be reformed before 2024. Win for everyone except the naive and poorly-educated rubes who still have to repay the loans.
If value is the criterion then debt forgiveness is proper - nothing for nothing.
Why do people think borrowing money for an amorphous college education is a rational choice? That's money borrowed for a product or good which does not exist and on its own has no value whatsoever.
Borrowing money for a product that is not subject to competitive market forces is also very stupid.
I didn’t even know this monstrosity existed, we are Rome and doomed
In many states that loan forgiveness is taxable even though the student doesn’t see a dime of cash. My daughter could get some $20,000 of debt relief, but then have to pay close to $1,000 in income tax to the state of Minnesota.
The Feds in DC have no idea how the world works or the value of money. They have a delusional vision of the world and make decisions based on their delusions.
You can’t get blood from a stone.
How much was pissed away in Ukraine? How much did Trump spend in the Lockdowns?
Sorry if that hurts, but the protests are pretty weak. My wish is the $10K be taken from the colleges FIRST.
“Joe Biden is doing all he can to detach the cost of an education from the value of an education.”
I, like many before me found Monica’s opening sentence profound. It can be easily demonstrated the cost of many degree plans provide a poor ROI. Many sheep-skins are not the door to prosperity.
There would be no relief as the debtors who are not paying now will not pay what they owe in the future of the remaining debt. The interest rate will cause the debt to spiral up again and the student will owe as much if not more.
This was all done as a vote buying scheme.
Don’t forget... the student loan portfolio also underwrites Obamacare to a great extent. Writing off this much debt is going to kill the bottom line for national health insurance (not that it shouldn’t be killed).
Over 100 job cuts coming to student loan company in Horseheads
Pioneer Recovery goes after student loan deadbeats.
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