Posted on 07/01/2023 4:15:36 AM PDT by Libloather
In a piece responding to the U.S. Supreme Court killing President Joe Biden’s student loan handout, the New York Times reminded readers there were other ways they could still cancel their debt, one of them involving death.
Among six methods the outlet included to get rid of student loan debt, such as signing up for student loan forgiveness and filing for bankruptcy, the outlet noted that debt "dies with the person or people who take it on."
This option was given for students worried that the debt their loved ones took out for their schooling would pass on to them if those loved ones died. The paper assured them it wouldn’t.
The Times published the article shortly after the Supreme Court struck down Biden’s student loan handout on Friday. The handout, which he proposed last year, sought to cancel up to $10,000 in federal loans per borrower making less than $125,000 a year, and up to $20,000 per borrower for those who used Pell Grants in college.
Critics claimed Biden’s plan would have cost over $400 billion and was unfair to those who paid their loans or never took on debt.
New York Times columnist Ron Lieber’s piece on Friday showed sympathy for the "enormous disappointment" felt by people not getting their loans forgiven after the ruling and offered alternative "ways to get your student debt wiped away."
Lieber noted there are still several "escape hatch" "ways to eliminate your federal student loan balance aside from paying in full." He advised, "If you know someone who is struggling with student loan debt, suggest that the borrower review every last option."
Lieber mentioned "Income-Driven Repayment," "Public Service Loan Forgiveness," "Closed or low-performing schools," "Bankruptcy Discharge," and "Disability Discharge," before getting to the final option, "Death."
(Excerpt) Read more at foxnews.com ...
When they took out these loans, there was no expectation that they would be forgiven. They agreed to pay them back and are obligated to do so.
The government acted irresponsibly by encouraging these gullible kids to take out that debt but the parents and kids were foolish to incur the kinds of expenses by going to a big name university for their *education.*
🙄 Student loans are not forgiven in bankruptcy. All other debt is and you still have to pay the loan. Chapter 13 reorganization of debt ordered by the court or Chapter 7 forgiveness of everything except student loans and taxes.
As things are now, there was hardly any reason to go to college all you get is wokey indoctrination that you are in forever debt for.
I know parents out there think they have some obligation to their kids to send them to college. You hear it all the time. I can’t think of a bigger waste of money. College is way too expensive for what people get there. It is a sham. The prices go higher every year and the quality goes down.
The government should not be in the business of making loans for education.
I graduated college without any dept. It took longer and I worked my a&# off.
Also ... I got ‘credit for life experience’ credits, and was able to forego some classes.
But it was a great feeling to leave there debt free.
There were...maybe...twenty five people outside of Supreme Court when this decision came down. wow, that was some demonstration.
Now I ask you...HOW MUCH ATTENTION AND ANXIETY WAS THERE AMONG THE MASSES???
The only people who CARE about this are the foreign journalists at New York Times.
My son is 22 and went to community College right after graduating. He didn’t like it, worked for a couple of years, and is now going back to a different community College to become a nurse. With a lot of grant and other “freedbies” our locality offers, he will get out with very little debt into a high-paying job. You can get a decent education in a field of need without going into massive debt.
My husband and I went out to eat and our young waitress, who was only 19, told us how she already had $20k in student loans from one of those online schools. She was heavily encouraged by one of the school recruiters to go to that school - so easy and fun, you can do it AND work full time - and she was unable to learn from that way of teaching so dropped out. She gave up and had no way to go back to school as she had this huge outstanding loan that already started packing on interest. She told us she would never be able to get a car or a house and had moved back home. It was horrible. Those predatory online schools certainly must know their rate of actual graduation is very low yet they are able to keep that gravy train coming, destroying the lives of so many forever.
Exactly. Congrats to him for being smart.
The guberment makes student loans for a couple reasons.
Backdoor support of liberal colleges and making sure graduates are hobbled when their start careers.
Actually death is not the end of student loan debt. If you die still owing on your loan your estate will have to finish paying - oh and you can’t get it discharged in bankruptcy either.
It’s a pretty tight noose.
Any parents who co-sign a student loan are double-clutching fools.
I got a lot I could say about this topic but I’m not going to bother.
Rather than throwing these loans onto the backs of those of us who work for a living, Congress needs to get off its ass and start investigating the tuition gouging going on at these prostitutions of higher learning. Tuition is out of control. “Perfesers” making millions to “teach” one class is obscene. Students have been paying for their educations since time began. I don’t see why the Millies and Zero Gravity generations can’t do the same. Especially when the majority of courses they are taking these days and are paying outrageous tuition for are basically nothing but sh*t. Their “diplomas” are participation certificates and not worth a dime. Yeah, they’ll get you a barista job at Starbucks or a gig as an Uber driver but that’s about it.
That was not always true. There was one notorious case of two married newly minted MD's with at the time enormous combined student load debt of about $100,000 combined. Once they had their Medical Licenses, and making sure they were in hock up to their necks, with no assets, they declare bankruptcy. Since bankruptcy cannot anticipate future earnings, they were, technically broke. Congress changed the law to exclude student debt from bankruptcy going forward, or no one would ever repay it.
Obama found the way around that hurdle: Let the Federal Government be the lender for virtually all student debt, knowing full well that future Democrat politicians would "forgive" that which was not theirs to give.
My wife and I graduated from college with degrees in Computer Science. We had to take out loans and worked summer jobs to pay the bills. Also took summer school classes to speed up the graduation process. When we graduated and found jobs times were lean with student loan payments, rent, a car payment, groceries, etc. Didn’t have any money to party or take a vacation anywhere. We paid off those loans. What I want to know is, is this scheme retroactive? Are my wife and I going to get a “forgiveness” check from Uncle Joe? I freaking doubt it. You borrowed the money, pay it back! Enough said.
Not if the loan money is used for Spring Breaks in Cancun, summers traveling Europe, etc.
If education was a free for all, how many Ben Carson types would the US produce?
Here’s he other little dirty secret that no one cares to mention...”loan forgiveness” due to 100% disability is also a sham. Any amount “forgiven” is considered a “gift” by the IRS and incurs an income tax obligation as income in the year it is forgiven. Anyone who would have qualified for that $20K gift from the Biden admin would have been unexpectedly slapped twice - first, by falling into a higher income tax bracket in the year of the forgiveness, and; second, by requiring payment in full of the thousands in extra income tax in that year. 35% of $20K is $7K in taxes. There is no excuse that will give forbearance, either. Pay it NOW or else the IRS will simply take it before future earnings make it to your bank account. No income is exempt - not Soc Sec Disability, or welfare, or a check from Grandma to bail you out. Better to keep applying for forbearance from the Student Loan lender every year until you die. The whole student loan thing is a scam to indenture slaves to the government.
Is getting a job, and working hard at it, on the list?
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