Five Americans on what $50K of federal student loan forgiveness would mean to them

NBC News / Comcast ^ | May 30, 2021 | By Ben Kesslen

[Jan_Sobieski]

Universities have no skin in the game. This is a Democrat bailout of corrupt colleges to keep churning out useless degrees like LGBTQI dance theory

[EinNYC]

I saved every bit of birthday present money since I was a little child and worked since the age of 16 to make college money. I bought nothing, took no money-blowing trips---that money was salted away in my college fund. Summers, I was a cashier in a drugstore to make college money. I was a work-study student as an undergrad. I worked in the biology lab preparing materials for classes. No one paid for my college. Now these little snowflakes want ME to pay for THEIR college. I guess they never learned the meaning of the word "work" in the libtard brainwashing factories which passed as schools in their neighborhood.

No, we should not be paying for anyone's college expenses but our own and perhaps those of our kids.

[jz638]

Honestly I’d be for the interest to be reduced to 1 percent. That’d help greatly. Once these loans are paid, they will spend it in the economy which is a win for all of us.

The astronomical debt figures often come from the interest, especially with these payment plans that don't even cover that interest and keep kids in debt forever.

The government should never have taken on so many terrible investments in guaranteeing the loans, but it did. No student should have been allowed to take grad courses on credit when their undergrad debt was already unmanageable, but they were. The universities should never have been allowed to charge tuition at the rates that they did, but they were -- especially for people in career paths that don't have any credible route to a career with income potential that would match the debt taken on.

Like it or not, student debt has become a problem for American society. Maybe not one that everyone feels, but it changes the way that people behave on a massive scale. (probably the worst side effect is represented by the article with a bunch of seriously endebted young adults gravitating to the DC region and politics where their bad decisions and situations pollute the federal government and filter down to the rest of the country)

If the government were serious about tackling the problem of student debt, they'd cap interest as you mentioned, roll back the compounding debt, pursue the massive university endowments that grew because of this predatory policy, and stop approving or guaranteeing loans that will clearly not be realistic to pay back.

[taxcontrol]

Lets be honest here. It is NOT loan forgiveness. It is merely loan transfer. It transfers the consumer of the loan (student) to the government (taxpayer).

[AnotherUnixGeek]

Five Americans on what $50K of federal student loan forgiveness would mean to them

Here's me, another American, on what $50k of federal student loan forgiveness would mean to me: unfair confiscation of my money to pay for someone else's debt.

I assume I'm similarly entitled to run up $50k worth of credit card debt and ask these losers to pay for it, right?

[dforest]

Well lets reimburse all the fine people who paid off their student loans in the past. The taxpayers should not have to pay off people’s loans.

[rockrr]

Good post!

[mountainfolk]

I am trying to compute the connection to taxpayers paying off loans for people who were not, or are not, smart enough to be aware of the cost of the diplomas they wanted. Ten thousand taxpayer dollars will be wasted for sure by the debtors who ran up these huge loans and apparently put their wants ahead of their needs. The America taxpayer does not owe one damn cent to any of these foolhardy leaches. The whole thing is just another way of the govt funneling money to special interests such as academia. If the govt is to forgive debts, it must consider all other request for loan forgiveness and govt payoffs and not just selective areas such as academia. House mortgages, medical bills, etc. Another trillions of US debt should be of no consequence to this current dead drunk administration.

[zek157]

Let’s talk to 5 tax serfs about how runaway inflation impacts them.

[stockpirate]

I paid my student loan off and so can they.

Not my problem

[Starcitizen]

One of the paybacks of that was to be the G.I. Bill education benefits
—————-
Wasn’t automatic, since 1984, to get benefits, $100 (minimum) to $600 per month must have be forfeited from any pay due. That’s a lot for an E1 to E4… (basic E4 pay when I was in was $780 a month. Full top-up meant getting only $180 remaining per month)

$1564 a month for 3 years if the service-member availed of this. But to do so meant absolutely no money for off-duty time.

[PeterPrinciple]

After college, they both pursued master’s degrees at George Washington University, in Washington, D.C.,

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The easy loan money was used for a lifestyle, not education.

[Starcitizen]

I was able to pay off his debt after I received insurance from two deaths in my immediate family.
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So you are the exception. How many will come into that sort of money to pay off such debt.

Sorry your son is in IT. Guessing some Indian H1B scumbag will have his position soon. Oh, and that Indian H1B scumbag didn’t owe over $100K in student loans.

Remember 76% of all recent STEM graduates are unemployed or underemployed due to the unlimited visa OPT program.

[PeterPrinciple]

Again, quick histry on student loans

NDSL - National DEFENSE student loans

changed to National DIRECT student loans

then went to administration by local banks for a little quality control by Republicans

Then went back to direct administration by democrats for largesse.

[Starcitizen]

Most likely the degrees would be in subjects that don’t translate into real jobs.
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How wrong you are.

The right degree? 76% of all American STEM graduates are underemployed or unemployed.

I always thought a STEM degree was the “right” degree

Blame your government and the OPT visa program.

[qaz123]

Alicia Corby, 38, took out more than $225,000 in federal student loans to attend law school. Her current balance now is somewhere around $350,000.’........Where did she go to school and what kind of life was she living while going there?

I thought I was living large when my dinner was mixing hot dogs in with my beans. I had loans, work study job and a job in town. Good Lord.

If Steven Mewha want’s his loans forgiven, fine. Work the public defenders office. Loan payments, with a reduced interest rate, taken out every week until you pay off your $40k.

Campos shouldn’t even be here anyway, but may a deal can be made. She gets her $50k taken care of but she and her family have to pay back every penny of the public assistance, school taxes, free lunches, Section 8, etc etc etc, that they received after they came to the US, as she grew up.

Maybe the girlfriends are paying around $450 a month. If they’re living in DC, they don’t need a car so, what’s the problem?.....and just like Corby, what the heck were they spending the loan money on. Living on Comm Ave in a sweet apartment, not worrying about a thing?

[Starcitizen]

…. not MDs, not Dentists, engineers, CPAs, or other professions that are a value to our society.

——————
And due the to OPT visa, these majors are as worthless to Americans as a Lesbian Studies Degree.

MDs can’t get residency as all the spots are filled with foreigners. No residency, no practice

https://doctorswithoutjobs.org/

https://uaudoa.com/

[Theophilus]

The loan forgiveness talk may be another way to buy Democrat votes without ever delivering anything, like reparations.

[Theophilus]

How long till BB does a story on gambling debt forgiveness?

[2right]

just nationalize university and college endowment funds and finance it out of that. watch liberal heads explode.