Elections Warren makes bold claim to begin canceling student loan debt on day 1

How is that going to help people who already got their degrees from less lucrative schools? It's not like that's going to make someone who earned a degree from Florida International University as marketable as someone who earned a degree from Boston University.

I believe her plan is forgiving up to $50k per person. So people that went to more expensive school would still have student loans.

There is also a progressive income threshold for varying degrees of forgiveness.
 
Make the banks who tanked the economy pay for it. Solved.

The lamest reasoning regarding why student loan debt shouldn't be forgiven is the line "I had to pay mine..."

But I bet you love the idea of slave reparations, right?
 
Well that's good because I was really wanting to take that Lesbian Tapdancing course, but I don't think I should be forced to pay for it.

Thanks Warren!
 
But I bet you love the idea of slave reparations, right?
Paying money to people with African slave trade heritage is an insulting recompense and an insult to everyone's intelligence.

It's also a little weird you'd compare criminal bankers to slavery issues.
 
Make the banks who tanked the economy pay for it. Solved.

The lamest reasoning regarding why student loan debt shouldn't be forgiven is the line "I had to pay mine..."
Student loan payment is lame. Everyone with student debt knew what they were getting into. It's like crying it's not fair you have to pay for ordering a $400 bottle of wine at a restaurant.
 
Why would banks give out future student loans if this goes through? If this goes through she is essentially going to make it so only people who can pay for college can get in. Meaning the rich get richer and the poor get poorer.
Hopefully we can reform the whole system because it's broken at the moment. A lot of wasted money for useless degrees.
 
Do people who chose not to go into debt to go to an expensive university get $37,000 under her plan?

Whats the logic behind this, since you could ask this about EVERY govt program?

Cancelling isn't really the correct wording.

More like deflecting the cost to others.

This is a good way to look at it. Every time, usually a NDPer, suggests a huge new social service, my question is WHO will pay for it, not HOW will it be paid for.
 
At one level I think it’s a good idea because it will decrease private investment in student loan debt.

Student loans will become harder to get and more expensive because it will be correctly priced relative to its terrible value.

Currently the market is so distorted that you are throwing tons of money into the waste bin on useless education that is little more than a zero sum credential race for most of the populace.

Bottom line, the American student loan industry should be a fraction the size it currently is, and most students should not be able to get sizable loans. People need to start thinking of student loans less as providing opportunity and more as shameless government-backed loan sharking, like payday loans.
 
@andnowweknow You keep on saying "bankers," but didn't the Federal Government take over almost all student lending as of 2010? You might want to ease off the propaganda when it was Obama (and Congress) which effectively killed the private banks granting student loans. The government is on the hook for over $1 Trillion in student debt right now and so many people have chosen to not even try to make a single payment.

https://www.govinfo.gov/content/pkg/PLAW-111publ152/pdf/PLAW-111publ152.pdf
https://www.investopedia.com/articl...81216/who-actually-owns-student-loan-debt.asp

Warren can go and fuck herself with this bullshit. Instead of cutting silly programs she just wants to raise taxes...fucking unreal. I'm pretty Libertarian when it comes to taxes and it sure would be nice if the government didn't look at the tax payers as a fucking bank and source of income. While I fully accept that running a government costs money I don't think the best idea is to continually and constantly create new taxes. It's better to cut programs which aren't working as intended than to just keep on stealing more money from the populous. Unfortunately propaganda has encouraged the hatred of wealthy people in America...odd how it's the "tolerant" ones who hate just about everybody these days.
 
I believe her plan is forgiving up to $50k per person. So people that went to more expensive school would still have student loans.

There is also a progressive income threshold for varying degrees of forgiveness.
As long as it applies to debt in general and not just student loan debt, I'm OK with it. Otherwise, it's just not fair for people that chose to go into debt for other things like houses, cars, credit cards, etc. instead of student loan debt. $50K general debt relief for everyone is much more fair.

Why should only students get their debts cancelled? They're already going to earn $900K more over their lifetimes anyways. Why not the working class too?

To make things more fair, if they're going to get student debt relief of $50K then they should have to transfer some of their $900K lifetime earnings over to the working class. Maybe $50K immediate debt relief in exchange for a lifetime $500K wealth transfer via income taxes over time from the higher earning college class to the more disadvantaged (and heavily minority) working class?

Also since college graduates are largely Asian and white, isn't giving all this debt relief overwhelmingly to them over blacks and hispanics that go into other kinds of debt instead somewhat racist?
 
As long as it applies to debt in general and not just student loan debt, I'm OK with it. Otherwise it's just not fair for people that chose to go into debt for other things like houses, cars, credit cards, etc. instead of student loan debt. Why should only students get their debts cancelled? Why not the working class too? $50K general debt relief for everyone is much more fair.

You can discharge that other debt through bankruptcy (Warren also has proposal to streamline this to make it cheaper, easier and more consumer friendly).

Student loans for the most part can't be discharged via bankruptcy. Once you are fucked, you are fucked for life with Student Loans
 
Student loan payment is lame. Everyone with student debt knew what they were getting into. It's like crying it's not fair you have to pay for ordering a $400 bottle of wine at a restaurant.
This is a hilarious response to a post attacking bankers who literally did everything they could to make it completely UNCLEAR what homebuyers were getting themselves into and screwing people out of their money and houses. And then getting bailed out by the government.
 
This is a hilarious response to a post attacking bankers who literally did everything they could to make it completely UNCLEAR what homebuyers were getting themselves into and screwing people out of their money and houses. And then getting bailed out by the government.
This thread is about student debt, not subprime loans. Stop deflecting
 
@andnowweknow You keep on saying "bankers," but didn't the Federal Government take over almost all student lending as of 2010? You might want to ease off the propaganda when it was Obama (and Congress) which effectively killed the private banks granting student loans. The government is on the hook for over $1 Trillion in student debt right now and so many people have chosen to not even try to make a single payment.

https://www.govinfo.gov/content/pkg/PLAW-111publ152/pdf/PLAW-111publ152.pdf
https://www.investopedia.com/articl...81216/who-actually-owns-student-loan-debt.asp

Warren can go and fuck herself with this bullshit. Instead of cutting silly programs she just wants to raise taxes...fucking unreal. I'm pretty Libertarian when it comes to taxes and it sure would be nice if the government didn't look at the tax payers as a fucking bank and source of income. While I fully accept that running a government costs money I don't think the best idea is to continually and constantly create new taxes. It's better to cut programs which aren't working as intended than to just keep on stealing more money from the populous. Unfortunately propaganda has encouraged the hatred of wealthy people in America...odd how it's the "tolerant" ones who hate just about everybody these days.
The "banker defense" from some people is bananas. Those assholes literally stole tax payer money and you'd rather bitch about forgiveness of student loans.

100%, you either have no debt because you never went to school or you had to pay a student debt and it pisses you off when other people get something you don't. Either way, it's some supreme hater mentality to get this fired up about someone trying to actually help young people dig themselves out of a financial hole.
 
This thread is about student debt, not subprime loans. Stop deflecting
I made a completely relevant post with a solution in it regarding student debt. Quoting my post then ignoring its content is really stupid.
 
Cancelling isn't really the correct wording.

More like deflecting the cost to others.
Yeah. Like me. Even though I have school loans.

So like 60% of people with school loans will be deemed too wealthy to be eligible for the exclusion, and wealthy enough to contribute to the tax that pays off the school loans of others.

Elizabeth Warren is a hack. She's put zero thought into how this kind of thing would work and if she gets elected she'll pawn the task off to a bunch of suits and Americans will get screwed as usual.
 
I try to be as objective as possible, but this is one topic I gauge on a personal level. A "what about me" level. I went to college like a lot of people, but I made it a major goal to pay off my debt and stuck to it. I have paid off all of my student loan(s) completely. My wife has a few thousand left until she is done as well. We are mid 30s. So if Warren comes along "cancelling all student loan debt", I can't help but feel a type of way after having responsibly paid tens of thousands of dollars for over ten years to remove all future debt in this area, while others just get to keep all their money.

I'd hate to cry it's not fair, but man, that wouldn't be fair at all. Especially considering that my reward for paying off all that debt isn't any form of reimbursement, but is in fact paying more of my post-debt money to help others remove theirs. Like, this is just, not fair. That doesn't mean do nothing at all, but I can't ever get behind this.
 
I believe her plan is forgiving up to $50k per person. So people that went to more expensive school would still have student loans.

Okay, but how is essentially giving tens of thousands of dollars to people who chose to make expensive investments in themselves fair to people who chose to make cheaper investments in themselves, who don't need to get bailed out?
 
Back
Top