Opinion Student Loan Debate: SCOTUS strikes down Biden sweeping debt forgiveness order

[HockeyBjj]

That sounds like a great take actually.

I’d love to see it take off. It seems like a perfectly rational compromise that would have widespread public support

So naturally neither politically party is interested in it

 

[Greco_Wiz]

Lower interest rates. And moving forward free or reduced tuition for STEM degrees. We need to incentivize science careers and increase scientific literary in this country.

 

[cincymma79]

Friendly reminder that Joe Biden has not reduced your student loans in any way yet still

 

[deadon]

Yeah just a hold until midterms are over. My guess is there will be no debt forgiveness.

 

[cincymma79]

Hey look no debt forgiveness. Wonder if they’ll pinky swear this election cycle. That’s how you know they’re serious

 

[Lead]

Yeah just a hold until midterms are over. My guess is there will be no debt forgiveness.

I didn’t get around to posting it but they’ve already noticed the services to hold on sending notices out with the deadline on the pause approaching which is what they’ve done the past few times they continued to extend it. There never is going to be a good time for a president to unpause these, especially when their base is proportionally more likely to be holding the debt. My only bet on it unpausing is a lame duck president doing it on their way out. For Joe, that could be possible if he really decides not to run for 2024 but even then, seems like he’d have pressure from those in his party to not unpause.

 

[deadon]

I didn’t get around to posting it but they’ve already noticed the services to hold on sending notices out with the deadline on the pause approaching which is what they’ve done the past few times they continued to extend it. There never is going to be a good time for a president to unpause these, especially when their base is proportionally more likely to be holding the debt. My only bet on it unpausing is a lame duck president doing it on their way out. For Joe, that could be possible if he really decides not to run for 2024 but even then, seems like he’d have pressure from those in his party to not unpause.

Agree it won't be popular either way. They should have never made promises like this. But they wanted those votes. Hopefully, they see through thr BS this time.

 

[Rob Battisti]

Yeah just a hold until midterms are over. My guess is there will be no debt forgiveness.

If the economy is booming, as I’m told by a recently carded highly esteemed economic powerhouse, why even delay payments? Unemployment rates are low I’m told and peoples savings are up.

 

[deadon]

If the economy is booming, as I’m told by a recently carded highly esteemed economic powerhouse, why even delay payments? Unemployment rates are low I’m told and peoples savings are up.

True true, but we know why haha.

 

[Senzo Tanaka]

I'm against student debt forgiveness (as in all of it) for one reason...every single person that takes a loan out the day after it happens is just going to go into debt and we are going to end up in the exact same position again. You aren't fixing anything. You are just wiping it out for political gain for a single election cycle.

What I would want is tax-funded (free) college for anyone that wants to go but expand it to trades, certifications, etc. Not everyone needs a degree. It needs to be a general place for learning and gaining new skills. If and only if we did that, then I would wipe out student debt.

 

[deadon]

I'm against student debt forgiveness (as in all of it) for one reason...every single person that takes a loan out the day after it happens it just going to go into debt and we are going to end up in the exact same position again. You aren't fixing anything. You are just wiping out for political gain.

What I would want is tax-funded (free) college for anyone that wants to go but expand it to trades, certifications, etc. Not everyone needs a degree. It needs to be a general place for learning and gaining new skills. If and only if we did that, then I would wipe out student debt.

Add online college and I agree with this.

 

[HockeyBjj]

Yeah just a hold until midterms are over. My guess is there will be no debt forgiveness.

another pause as anticipated, because resuming right before midterms would hurt their election as they don’t have a serviceable forgiveness plan right now.

Resume payments after mid terms. Put together a deliberately dumb forgiveness package for the now Republican house to reject. Then in lead up to 2024 Election say “see? We tried. Vote for us and we’ll pass the forgiveness this time. We promise”

And still no one with power will discuss middle ground proposals like canceling interest and making student debt as easily bankrupt able as bad business loan debt. Republicans will just taunt college grads who were forced to borrow while doing nothing to help them (possibly even making it worse on purpose), Dems will continue playing this promise the moon and hand out crumbs game.

 

[Lead]

And still no one with power will discuss middle ground proposals like canceling interest and making student debt as easily bankrupt able as bad business loan debt. Republicans will just taunt college grads who were forced to borrow while doing nothing to help them (possibly even making it worse on purpose), Dems will continue playing this promise the moon and hand out crumbs game.

Not familiar with what bankruptcy bills are out there but Rubio and Whitehouse both have their own no interest bills. They work pretty different but go that route.

 

[deadon]

another pause as anticipated, because resuming right before midterms would hurt their election as they don’t have a serviceable forgiveness plan right now.

Resume payments after mid terms. Put together a deliberately dumb forgiveness package for the now Republican house to reject. Then in lead up to 2024 Election say “see? We tried. Vote for us and we’ll pass the forgiveness this time. We promise”

And still no one with power will discuss middle ground proposals like canceling interest and making student debt as easily bankrupt able as bad business loan debt. Republicans will just taunt college grads who were forced to borrow while doing nothing to help them (possibly even making it worse on purpose), Dems will continue playing this promise the moon and hand out crumbs game.

Aren't politics grand! I was watching dems go off on the abortion issue and how they've had 50 years to cement abortion and right after the SC ruled people were getting tons of donation emails. Yes they both play this game. Republicans with gun issues especially.

I know it's not a popular option around here but I think trade schools and online college should be paid for. Anything else is their dime. You want the college experience pay for it.

 

[cincymma79]

Just checking in to see how all that student loan debt relief is going

 

[Lead]

Just checking in to see how all that student loan debt relief is going

Didnt get to a bump but in the next week or so, there’s expected to be an announcement on the relief plan Biden is going to propose or push through EO as well as if the pause will continue since the pause is over after August. They notified the loan services to not send out notices about the upcoming amount due in September and have done this each time they’ve extended the pause. So we likely will see a continue pause and possibly the forgiveness plan Biden is going with which many speculate will be 10k forgiveness for those making under 150k

 

[deadon]

Didnt get to a bump but in the next week or so, there’s expected to be an announcement on the relief plan Biden is going to propose or push through EO as well as if the pause will continue since the pause is over after August. They notified the loan services to not send out notices about the upcoming amount due in September and have done this each time they’ve extended the pause. So we likely will see a continue pause and possibly the forgiveness plan Biden is going with which many speculate will be 10k forgiveness for those making under 150k

This should help Republicans. Kids won't be happy with anything other than what was promised.
If you read the tweets you see a whole lot of "I paid my loans back what do I get" or the typical " I'm not paying your bills"
This on top of all the other spending. Theres no way this all doesn't impact inflation.

 

[cincymma79]

Didnt get to a bump but in the next week or so, there’s expected to be an announcement on the relief plan Biden is going to propose or push through EO as well as if the pause will continue since the pause is over after August. They notified the loan services to not send out notices about the upcoming amount due in September and have done this each time they’ve extended the pause. So we likely will see a continue pause and possibly the forgiveness plan Biden is going with which many speculate will be 10k forgiveness for those making under 150k

This time they pinky swear

 

[Denter]

I didn’t say I supported it either, I do spend some time in this thread simply chatting about some of the policies being floated around.

I think the correct solution is to cancel the interest on the debt. Without the compound interest, this debt taken on isn’t a life of being trapped. But the people who borrowed still pay back everything they borrowed to the federal government. Person can’t make an $800 payment every month for the next 20 years. But they could do $350 and have that actually paying down principal. Win win

Feels wrong that the fed gov is profiting off predatory loans with 8+% interest rates they gave to teens with 0 income. That’s just irresponsible lending.

Very good take, I like it.

 

[terrapin]

Yeah “cancelling” the debt is also a bullshit framing. It’s basically paying it via taxes.

So, raise taxes to pay off the debt of people who chose to take on loans, had an opportunity to pay them off and didn’t and instead chose to take on other debts in the meantime.

I am absolutely FOR a forced reduction or elimination of the interest rate. I’m against anyone getting a liberal arts degree or a graphic design degree, being in 80k of debt and me having to pay it off. FUCK THAT.

i used to be for this policy but the more i think about it the more i think its state sponsored classism. why give TONS of money to the college educated? even if they cannot get a job based on their degree they will still get bumped to the front of the line for almost all promotions and management positions.

if we are giving that kind of money to college educated people then i want the exact same amount given to blue collar workers who never went to college.