Opinion AOC paid her student loans on the congressional floor

[Trotsky]

So stay in state, work through college, start at a community college, choose a path that will actually pay well, etc.

You don't need to rack up massive debt. It's not my problem and my taxes shouldn't pay for others poor decisions.

This isn't a position that is consistent with what I just said: the purpose of higher education to equalize. You aren't going to be able to transfer to a great undergraduate school from a community college and you aren't going to be able to compete against Brett Kavanaugh types who spent 80k/year just on their high schools when you're getting your degrees from Rocky Mountain State. And even if you "choose a path that will actually pay well," that is, again, erroneous to the deleterious economic effects of debt burdens in driving down consumption and slowing down the labor market.

I realize it can be difficult to view a problem outside of how it affects you personally in the short-term, although I am suspicious of whether you're in a high enough tax bracket to even have reasonable concerns over seeing a tax increase over loan forgiveness, but that's kind of the purpose of policy discussions.

 

[tonni]

I'm pretty sure that the $20,000 balance she's talking about is her student loan balance, not her checking account balance

That was obvious to me and English is the third language I learned.

 

[all caps]

I dont even have an account

 

[Trotsky]

That was obvious to me and English is the third language I learned.

I had to read the article several times to make sure I wasn't missing something since like 5 posters agreed on an interpretation that seemed pretty fucking silly to me.

 

[Sketch]

I made an entire thread about that recently with the net worths of all the major candidates. It’s surprising how bad most of them are with money.

Most people are terrible with money. Most people don’t even know who or what Blackrock or Vanguard is.

 

[PEB]

I fixed it it was 1 am when I posted it and I was rushing out the door at the time. I'm not like a lot of War Room Sherdoggers who seem to have unlimited time on Sherdog to post. It now points out her college loan amount.

 

[Sketch]

Well there are, of course, a lot of points to be made, the most basic of which is that education is simply too expensive.

A more policy-oriented point, however, is that student loan debt and interest acts as a remarkably regressive tax: persons from working and middle class backgrounds pay millions of dollars simply in student loan interest every year, which acts as a millstone for consumption, career mobility, and starting a family. Meanwhile, wealthy persons whose parents paid for their education are unfettered. It makes it such that, even though education and academic advancement are meant to be class equalizers where normal people can level the playing field with wealthy elites, it actually creates an additional system of class tiering.

There should be class tiering. My wife’s family paid for her education in full. Feels good man.

 

[PEB]

Most people are terrible with money. Most people don’t even know who or what Blackrock or Vanguard is.

A lot of reason why people don't know who Blackrock, Vanguard or others tons of others is because they don't have extra money at the end of the week after they pay for their rent, electric, gas bill, cable, cellphone and other expenses. In this day and age no one really can do without a cellphone or internet access at home. Had to get the last part out there because of the trolls saying like they need a thousand dollar Iphone or high speed internet. Most of my friends who are in this range are living paycheck to paycheck and do not own thousand dollar iphones most own reasonable new cars like the last few years because they have to drive to work some distance like 30 miles or more. Many also drive for lyft tons in fact now even more then Uber in my area.

 

[MoparOrNoCar]

She makes more money than me and has less in her account than me. I'm sold, double my taxes because some thot paid her bills. The nerve of some people to think paying your bills is making a strong point because you should pay it for her.

You can do what I did and get good at something so you have a scholarship, or do what I wish I did and skip it entirely. You can even be way worse than me at your sport and still get a full ride if you're a woman because title IV has mandated that women's sports can give full scholarships to bench warmers.

She's like a lot of women. They expect someone else to pay the bills (husband, tax payers) while her money is for shopping and entertainment.

 

[Social Distance Warrior]

Funny story...i just made my last student loan payment 2 months ago

 

[Gregolian]

Funny story...i just made my last student loan payment 2 months ago

I'm still working on my. Gah.

 

[Social Distance Warrior]

I'm still working on my. Gah.

School is fucking expensive, I'm just glad I didn't waste it on a fine arts degree or gender studies

 

[kpt018]

I’m going to sound like an older cranky guy but the theater is wearing me out. I get that with Republicans in control of the Senate and Presidency no really legislation will get done. But the theater is just annoying and pointless. In fact it’s counterproductive to her views.

Before hitting 30 years old she has $20k and house rep salaries are reportedly $174k a year. What’s the takeaway? Take out a reasonable student loan and you can be in the upper 25% (or wherever she is) before 30!?!? Oh the horror!

If she is financially responsible she could pay her loan off in less than a year. I really don’t think she’s sending the message she thinks she’s sending.

 

[kpt018]

I'm pretty sure that the $20,000 balance she's talking about is her student loan balance, not her checking account balance, and she's saying she feels accomplished because she took a grand off her loan debt, not because she now has $1,000 less in her checking account.

It would be a more powerful statement to show that a person can pay $5,000 a year on their debt only to have it increase because the interest is $6,000 a year.

And even more powerful if that person has 5+ years of experience and makes $60k a year or something.

 

[Gregolian]

School is fucking expensive, I'm just glad I didn't waste it on a fine arts degree or gender studies

I got a Poli Sci degree but the student loan is from the one year of post-graduate school I've done. Grumble

 

[RerouteToRemain]

This isn't a position that is consistent with what I just said: the purpose of higher education to equalize. You aren't going to be able to transfer to a great undergraduate school from a community college and you aren't going to be able to compete against Brett Kavanaugh types who spent 80k/year just on their high schools when you're getting your degrees from Rocky Mountain State. And even if you "choose a path that will actually pay well," that is, again, erroneous to the deleterious economic effects of debt burdens in driving down consumption and slowing down the labor market.

I realize it can be difficult to view a problem outside of how it affects you personally in the short-term, although I am suspicious of whether you're in a high enough tax bracket to even have reasonable concerns over seeing a tax increase over loan forgiveness, but that's kind of the purpose of policy discussions.

Those types will have an advantage regardless of education cost. They have connections and whatnot that others do not. Also what type of job market are you talking about? You don't need to go to ivy league to do well.

"I realize it can be difficult to view a problem outside of how it affects you personally in the short-term."

You mean like the student loans people should be paying off? And again if you can't pay off that debt quickly you chose the wrong career path. The short term loss in consumerism will be made up later.

I'm not sure what tax bracket is being proposed but lol at the idea the extremely wealthy will actually pay for this. Their effective rate will continue to remain low as it basically always has. How about make a plan that people that went to college pay that tax if you want it done that way.

 

[RerouteToRemain]

It would be a more powerful statement to show that a person can pay $5,000 a year on their debt only to have it increase because the interest is $6,000 a year.

Perfect example of poor choices were made.

 

[woodguyatl]

Yeah she's doing great for herself and that's great, but I'm not exactly sure what this thread is supposed to prove. Yeah someone making 176k a year should be paying down their student debt.

Actually why does someone making that much a year have 20k just sitting in a checking account? Why not pay off your debt or invest instead of having money doing nothing? Isn't she supposed to be an econ major?
Or maybe she is making WAY more than 176k where 20k in a checking account is nothing to her now.

That probably about 2 months of expenses so about the right amount to have liquid.

 

[TheOneAboveAll3]

It is surprising a liberal paid their bills. Good job AOC! Way to set an example!!

EDIT: LOL TS Changed his title from AOC did something surprising on the congressional floor

Generalizing a party like this is pretty stupid of you, it's like me saying the right party are filled with idiots who believe all the lies Trump spews which is not far off from the truth though.

 

[lifelessheap]

Her point is that if it's an accomplishment to someone like her, paying off this debt, it must feel insurmountable for the vast majority of people facing this debt with very few options but to pay for an insane amount of time through the nose on interest.

Is this debt forced? Or is it a choice?