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(Fortune)   "Schumer: Biden can-and should-cancel $50,000 in student debt" Nothingonnahappen.gif   (fortune.com) divider line
    More: Unlikely, Debt, student debt, Democratic Party, Nancy Pelosi, President Joe Biden, student loan radar, Senate Majority Leader Chuck Schumer, early October  
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725 clicks; posted to Politics » on 28 Oct 2021 at 10:45 AM (4 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-10-28 9:42:05 AM  
I think that would be a mistake.  However, it might be good leverage in getting a proper approach to passing real change addressing college costs going forward.
 
2021-10-28 9:44:02 AM  
Joe Biden should be doing anything and everything he can by Executive Order since the Democratic Congress refuses to pass good legislation.

We need functional government at some level. We need leadership at some level. And we need results at some level. Get it farking done instead of whining about what is "proper" or not, that doesn't matter anymore.
 
2021-10-28 9:56:35 AM  

AdmirableSnackbar: Joe Biden should be doing anything and everything he can by Executive Order since the Democratic Congress refuses to pass good legislation.

We need functional government at some level. We need leadership at some level. And we need results at some level. Get it farking done instead of whining about what is "proper" or not, that doesn't matter anymore.



The only people saying "nothinggonnahappen" aren't paying attention:

https://www.ed.gov/news/press-release​s​/fact-sheet-public-service-loan-forgiv​eness-pslf-program-overhaul

https://www.ed.gov/news/press-release​s​/us-department-education-announces-tra​nsformational-changes-public-service-l​oan-forgiveness-program-will-put-over-​550000-public-service-workers-closer-l​oan-forgiveness

https://www.ed.gov/news/press-release​s​/extended-closed-school-discharge-will​-provide-115k-borrowers-itt-technical-​institute-more-11b-loan-forgiveness

https://www.ed.gov/news/press-release​s​/over-323000-federal-student-loan-borr​owers-receive-58-billion-automatic-tot​al-and-permanent-disability-discharges​

https://www.ed.gov/news/press-release​s​/new-negotiated-rulemaking-committee-f​ocus-student-loans-targeted-discharge-​and-forgiveness-authorities

https://www.ed.gov/news/press-release​s​/department-education-announces-approv​al-new-categories-borrower-defense-cla​ims-totaling-500-million-loan-relief-1​8000-borrowers

https://www.ed.gov/news/press-release​s​/department-education-approves-borrowe​r-defense-claims-related-three-additio​nal-institutions

The Education Department is quite literally taking all of the administrative actions that they can in order to get to the low-hanging fruit that should have been taken care of long ago. Then they'll decide how to handle the rest.

How do I know this? Because it's all right here: https://protectborrowers.org/wp​-conten​t/uploads/2021/02/Delivering-on-Debt-R​elief-Final.pdf

I personally know people who have already experienced life-changing outcomes from the actions of this Administration. The least that people, like Farkers who care about this issue, can do is to pay attention to what has already happened. Movement is a good sign, and it's all around you.
 
2021-10-28 10:01:46 AM  

Tell Me How My Blog Tastes: AdmirableSnackbar: Joe Biden should be doing anything and everything he can by Executive Order since the Democratic Congress refuses to pass good legislation.

We need functional government at some level. We need leadership at some level. And we need results at some level. Get it farking done instead of whining about what is "proper" or not, that doesn't matter anymore.


The only people saying "nothinggonnahappen" aren't paying attention:

https://www.ed.gov/news/press-releases​/fact-sheet-public-service-loan-forgiv​eness-pslf-program-overhaul

https://www.ed.gov/news/press-releases​/us-department-education-announces-tra​nsformational-changes-public-service-l​oan-forgiveness-program-will-put-over-​550000-public-service-workers-closer-l​oan-forgiveness

https://www.ed.gov/news/press-releases​/extended-closed-school-discharge-will​-provide-115k-borrowers-itt-technical-​institute-more-11b-loan-forgiveness

https://www.ed.gov/news/press-releases​/over-323000-federal-student-loan-borr​owers-receive-58-billion-automatic-tot​al-and-permanent-disability-discharges

https://www.ed.gov/news/press-releases​/new-negotiated-rulemaking-committee-f​ocus-student-loans-targeted-discharge-​and-forgiveness-authorities

https://www.ed.gov/news/press-releases​/department-education-announces-approv​al-new-categories-borrower-defense-cla​ims-totaling-500-million-loan-relief-1​8000-borrowers

https://www.ed.gov/news/press-releases​/department-education-approves-borrowe​r-defense-claims-related-three-additio​nal-institutions

The Education Department is quite literally taking all of the administrative actions that they can in order to get to the low-hanging fruit that should have been taken care of long ago. Then they'll decide how to handle the rest.

How do I know this? Because it's all right here: https://protectborrowers.org/wp-​content/uploads/2021/02/Delivering-on-​Debt-Relief-Final.pdf

I personally know people who have already experienced life-changing outcomes from the ac ...


Those pesky facts get in the way of his endless whining though.
 
2021-10-28 10:03:34 AM  
There's really only one way to solve the college problem in America. And, let's all be f*cking serious for a f*cking second, ok?

The real problem is that like 505 of that debt is for people who never actually finished school or got a degree... or they only got an associates and did not finish the bachelors...

We send FARRRRRRRRRRRRRRRRRRRRRRRRRRRR too many people to college and that drives up the cost every f*cking year.

Stop it. Just f*cking stop it.

We need more technical training... paid for with local and state tax dollars... also HUGE buy in from the companies to train the workers. Germany does this and it works out really well for them. I'm  not saying what they do would work 100% here, but we seriously f*cking need to revamp this stupid system we have.

No one wants to tell the parents or the kids, "Hey, guess what... you should not be wasting time learning about bullsh*t. You don't have it. Let's teach you a trade and you can work your way toward a six-figure career. Or, if you don't have the aptitude to lead your own crew, then you can make $55-75k as a tradesman working on a crew.

This is something we just don't do enough of.

That's the solution to the student loan problem.

Wipe out what we have accumulated now and work on fixing the goddamn system that caused all of this and keeps causing it to this day.
 
2021-10-28 10:13:45 AM  

NewportBarGuy: There's really only one way to solve the college problem in America. And, let's all be f*cking serious for a f*cking second, ok?

The real problem is that like 505 of that debt is for people who never actually finished school or got a degree... or they only got an associates and did not finish the bachelors...

We send FARRRRRRRRRRRRRRRRRRRRRRRRRRRR too many people to college and that drives up the cost every f*cking year.

Stop it. Just f*cking stop it.

We need more technical training... paid for with local and state tax dollars... also HUGE buy in from the companies to train the workers. Germany does this and it works out really well for them. I'm  not saying what they do would work 100% here, but we seriously f*cking need to revamp this stupid system we have.

No one wants to tell the parents or the kids, "Hey, guess what... you should not be wasting time learning about bullsh*t. You don't have it. Let's teach you a trade and you can work your way toward a six-figure career. Or, if you don't have the aptitude to lead your own crew, then you can make $55-75k as a tradesman working on a crew.

This is something we just don't do enough of.

That's the solution to the student loan problem.

Wipe out what we have accumulated now and work on fixing the goddamn system that caused all of this and keeps causing it to this day.


One fix would be to make the college liable for the debts of non-completers.
 
2021-10-28 10:16:17 AM  

Tell Me How My Blog Tastes: The only people saying "nothinggonnahappen" aren't paying attention:


And just to ensure it *does* happen, next week I'm gonna pay off the last bit of my student loans, which were somehow excluded from the public service loan forgiveness program.

Not that I'm bitter or anything.
 
2021-10-28 10:19:11 AM  

Tell Me How My Blog Tastes: AdmirableSnackbar: Joe Biden should be doing anything and everything he can by Executive Order since the Democratic Congress refuses to pass good legislation.

We need functional government at some level. We need leadership at some level. And we need results at some level. Get it farking done instead of whining about what is "proper" or not, that doesn't matter anymore.


The only people saying "nothinggonnahappen" aren't paying attention:

https://www.ed.gov/news/press-releases​/fact-sheet-public-service-loan-forgiv​eness-pslf-program-overhaul

https://www.ed.gov/news/press-releases​/us-department-education-announces-tra​nsformational-changes-public-service-l​oan-forgiveness-program-will-put-over-​550000-public-service-workers-closer-l​oan-forgiveness

https://www.ed.gov/news/press-releases​/extended-closed-school-discharge-will​-provide-115k-borrowers-itt-technical-​institute-more-11b-loan-forgiveness

https://www.ed.gov/news/press-releases​/over-323000-federal-student-loan-borr​owers-receive-58-billion-automatic-tot​al-and-permanent-disability-discharges

https://www.ed.gov/news/press-releases​/new-negotiated-rulemaking-committee-f​ocus-student-loans-targeted-discharge-​and-forgiveness-authorities

https://www.ed.gov/news/press-releases​/department-education-announces-approv​al-new-categories-borrower-defense-cla​ims-totaling-500-million-loan-relief-1​8000-borrowers

https://www.ed.gov/news/press-releases​/department-education-approves-borrowe​r-defense-claims-related-three-additio​nal-institutions

The Education Department is quite literally taking all of the administrative actions that they can in order to get to the low-hanging fruit that should have been taken care of long ago. Then they'll decide how to handle the rest.

How do I know this? Because it's all right here: https://protectborrowers.org/wp-​content/uploads/2021/02/Delivering-on-​Debt-Relief-Final.pdf

I personally know people who have already experienced life-changing outcomes from the ac ...


Lotta edges being nibbled there.
 
2021-10-28 10:25:40 AM  
Banks:  Oh, so these loans are no longer secured by the government?!?  cool. cool. cool. Now you have to actually qualify for a loan and/or have a parent co-sign.  The interest rate will now be adjusted for the actual risks of lending to someone with no job, no job history, and who might be able to simply not pay it back.
 
2021-10-28 10:27:51 AM  

revrendjim: One fix would be to make the college liable for the debts of non-completers.


That would guarantee that only the academically gifted and wealthy would be admitted. No poor kid would ever be accepted again without cash up front.
 
2021-10-28 10:29:07 AM  

NewportBarGuy: The real problem is that like 505 of that debt is for people who never actually finished school or got a degree... or they only got an associates and did not finish the bachelors...


There is not anything necessarily *wrong* with an associate's degree. Just as with a BS/BA, it depends on the school and major.

My daughter got her AS and got hired at $40K, with employer benefits available toward getting her BS.
 
2021-10-28 10:31:04 AM  

Angry Drunk Bureaucrat: Tell Me How My Blog Tastes: The only people saying "nothinggonnahappen" aren't paying attention:

And just to ensure it *does* happen, next week I'm gonna pay off the last bit of my student loans, which were somehow excluded from the public service loan forgiveness program.

Not that I'm bitter or anything.


One of the small print changes was the ability to apply for PSLF retroactively.
 
2021-10-28 10:35:48 AM  

GardenWeasel: Angry Drunk Bureaucrat: Tell Me How My Blog Tastes: The only people saying "nothinggonnahappen" aren't paying attention:

And just to ensure it *does* happen, next week I'm gonna pay off the last bit of my student loans, which were somehow excluded from the public service loan forgiveness program.

Not that I'm bitter or anything.

One of the small print changes was the ability to apply for PSLF retroactively.


Yeah, I read that fine print.  My loans still wouldn't be eligible.
 
2021-10-28 10:47:47 AM  
He didn't even run on that, Chucky.

Why don't you put it in the reconciliation bill rather than punting the responsibility.
 
2021-10-28 10:48:14 AM  

GardenWeasel: NewportBarGuy: The real problem is that like 505 of that debt is for people who never actually finished school or got a degree... or they only got an associates and did not finish the bachelors...

There is not anything necessarily *wrong* with an associate's degree. Just as with a BS/BA, it depends on the school and major.

My daughter got her AS and got hired at $40K, with employer benefits available toward getting her BS.


I'm not saying anything is "wrong" with it... but the reason we have so much debt is that our system of education is wrong. Why are we using community colleges and 4 year schools for 2 year degrees with these price tags? If it's a nursing degree or a criminal justice thing or whatever, that should be done at a trade school that is subsidized by the companies that will hire the workers. Those companies will make damn sure to work with the school to make sure what THEY are charged doesn't get out of whack. And, that lifts the burden off the taxpayer and the student/potential borrower.

I'm not putting down any kind of education people get, but we look at it all wrong and definitely send way too many people to college. When you look at the completion rate for people who enter it's just insane. It's wasting time and losing opportunities to create highly skilled workers that can make our economy and communities stronger.

Every other developed country approaches this in a more constructive manner than we do. We have to look at alternatives to what we're doing because it doesn't work.
 
2021-10-28 10:48:15 AM  

SpectroBoy: Banks:  Oh, so these loans are no longer secured by the government?!?  cool. cool. cool. Now you have to actually qualify for a loan and/or have a parent co-sign.  The interest rate will now be adjusted for the actual risks of lending to someone with no job, no job history, and who might be able to simply not pay it back.


Sounds like a bunch of party schools would go bankrupt and a bunch of community colleges would get a lot more students.
 
2021-10-28 10:48:17 AM  

AdmirableSnackbar: Lotta edges being nibbled there.


Certainly no true Scotsmen
 
2021-10-28 10:48:29 AM  

Tell Me How My Blog Tastes: The Education Department is quite literally taking all of the administrative actions that they can in order to get to the low-hanging fruit that should have been taken care of long ago. Then they'll decide how to handle the rest.


"Working towards"

AFT is trying to get people/educators ready for PSLF but the letters aren't coming yet to start the process.

Many are still showing 2 years less of service than they already have because Dept Ed is jacked up still.
 
2021-10-28 10:50:09 AM  

Tell Me How My Blog Tastes: AdmirableSnackbar: Joe Biden should be doing anything and everything he can by Executive Order since the Democratic Congress refuses to pass good legislation.

We need functional government at some level. We need leadership at some level. And we need results at some level. Get it farking done instead of whining about what is "proper" or not, that doesn't matter anymore.


The only people saying "nothinggonnahappen" aren't paying attention:

https://www.ed.gov/news/press-releases​/fact-sheet-public-service-loan-forgiv​eness-pslf-program-overhaul

https://www.ed.gov/news/press-releases​/us-department-education-announces-tra​nsformational-changes-public-service-l​oan-forgiveness-program-will-put-over-​550000-public-service-workers-closer-l​oan-forgiveness

https://www.ed.gov/news/press-releases​/extended-closed-school-discharge-will​-provide-115k-borrowers-itt-technical-​institute-more-11b-loan-forgiveness

https://www.ed.gov/news/press-releases​/over-323000-federal-student-loan-borr​owers-receive-58-billion-automatic-tot​al-and-permanent-disability-discharges

https://www.ed.gov/news/press-releases​/new-negotiated-rulemaking-committee-f​ocus-student-loans-targeted-discharge-​and-forgiveness-authorities

https://www.ed.gov/news/press-releases​/department-education-announces-approv​al-new-categories-borrower-defense-cla​ims-totaling-500-million-loan-relief-1​8000-borrowers

https://www.ed.gov/news/press-releases​/department-education-approves-borrowe​r-defense-claims-related-three-additio​nal-institutions

The Education Department is quite literally taking all of the administrative actions that they can in order to get to the low-hanging fruit that should have been taken care of long ago. Then they'll decide how to handle the rest.

How do I know this? Because it's all right here: https://protectborrowers.org/wp-​content/uploads/2021/02/Delivering-on-​Debt-Relief-Final.pdf

I personally know people who have already experienced life-changing outcomes from the ac ...


Guessing you work for education's spox office...
 
2021-10-28 10:50:17 AM  

mrshowrules: AdmirableSnackbar: Lotta edges being nibbled there.

Certainly no true Scotsmen


Absolutely more chefs than are needed.
 
2021-10-28 10:50:45 AM  

GardenWeasel: NewportBarGuy: The real problem is that like 505 of that debt is for people who never actually finished school or got a degree... or they only got an associates and did not finish the bachelors...

There is not anything necessarily *wrong* with an associate's degree. Just as with a BS/BA, it depends on the school and major.

My daughter got her AS and got hired at $40K, with employer benefits available toward getting her BS.


From my time working at the City of Chicago, a number of their paralegals and legal assistants had associates degrees.  The senior ones were handily making more than the City's junior attorneys.

Your salary ceiling might not be as high as someone with a bachelor's degree, and there's a crap ton more competition for jobs than there was even ten years ago, but you can still make a comfortable living with an associates degree.
 
2021-10-28 10:51:06 AM  
Watching PBS Newhour for the past week has been a complete shiatshow. We get to see the Dems give up on everything that was voted for. Last night, the hosts all said that Manchin is now compeltely writing the bill, and whie they cliamed they had to say it's not over yet (!!!) the entire thing is Manchin. They even had experts lined up for interviews about stuff like child care, and they literally aid that there isn't much point talking about it, but let's go through the motions anyhow because it is worth discussing.

Trump is basically in power. Because of Manchin.

That card game, Secret Hitler, continues to deliver on describing the current American reality.
 
2021-10-28 10:51:15 AM  

Tell Me How My Blog Tastes: AdmirableSnackbar: Joe Biden should be doing anything and everything he can by Executive Order since the Democratic Congress refuses to pass good legislation.

We need functional government at some level. We need leadership at some level. And we need results at some level. Get it farking done instead of whining about what is "proper" or not, that doesn't matter anymore.


The only people saying "nothinggonnahappen" aren't paying attention:

https://www.ed.gov/news/press-releases​/fact-sheet-public-service-loan-forgiv​eness-pslf-program-overhaul

https://www.ed.gov/news/press-releases​/us-department-education-announces-tra​nsformational-changes-public-service-l​oan-forgiveness-program-will-put-over-​550000-public-service-workers-closer-l​oan-forgiveness

https://www.ed.gov/news/press-releases​/extended-closed-school-discharge-will​-provide-115k-borrowers-itt-technical-​institute-more-11b-loan-forgiveness

https://www.ed.gov/news/press-releases​/over-323000-federal-student-loan-borr​owers-receive-58-billion-automatic-tot​al-and-permanent-disability-discharges

https://www.ed.gov/news/press-releases​/new-negotiated-rulemaking-committee-f​ocus-student-loans-targeted-discharge-​and-forgiveness-authorities

https://www.ed.gov/news/press-releases​/department-education-announces-approv​al-new-categories-borrower-defense-cla​ims-totaling-500-million-loan-relief-1​8000-borrowers

https://www.ed.gov/news/press-releases​/department-education-approves-borrowe​r-defense-claims-related-three-additio​nal-institutions

The Education Department is quite literally taking all of the administrative actions that they can in order to get to the low-hanging fruit that should have been taken care of long ago. Then they'll decide how to handle the rest.

How do I know this? Because it's all right here: https://protectborrowers.org/wp-​content/uploads/2021/02/Delivering-on-​Debt-Relief-Final.pdf

I personally know people who have already experienced life-changing outcomes from the actions of this Administration. The least that people, like Farkers who care about this issue, can do is to pay attention to what has already happened. Movement is a good sign, and it's all around you.


So, meager means tested half-assed measures and loan forgiveness for obvious scams (rather than having the scams pay back the loans)?

Let me know when he even approaches forgiving 2% of all student loans.
 
2021-10-28 10:51:47 AM  
That certainly would buy a lot of votes. Nevermind the fact that it's Democrats' fault that they owe that much tuition in the first place. Tuition was low before we guaranteed government loans, so universities ratcheted up the costs.
 
2021-10-28 10:51:53 AM  

NewportBarGuy: There's really only one way to solve the college problem in America. And, let's all be f*cking serious for a f*cking second, ok?

The real problem is that like 505 of that debt is for people who never actually finished school or got a degree... or they only got an associates and did not finish the bachelors...

We send FARRRRRRRRRRRRRRRRRRRRRRRRRRRR too many people to college and that drives up the cost every f*cking year.

Stop it. Just f*cking stop it.

We need more technical training... paid for with local and state tax dollars... also HUGE buy in from the companies to train the workers. Germany does this and it works out really well for them. I'm  not saying what they do would work 100% here, but we seriously f*cking need to revamp this stupid system we have.

No one wants to tell the parents or the kids, "Hey, guess what... you should not be wasting time learning about bullsh*t. You don't have it. Let's teach you a trade and you can work your way toward a six-figure career. Or, if you don't have the aptitude to lead your own crew, then you can make $55-75k as a tradesman working on a crew.

This is something we just don't do enough of.

That's the solution to the student loan problem.

Wipe out what we have accumulated now and work on fixing the goddamn system that caused all of this and keeps causing it to this day.


Mike Rowe, everybody!

Say, if a larger than ever flux of trade school graduates enters the job market, what do you think happens to those six-figure careers?
 
2021-10-28 10:51:55 AM  
Punish the poor! Make them think it's their own fault. This is the way.
 
2021-10-28 10:52:09 AM  
Eliminating student debt means losing the support of the banks who profit from it.  One simply does not oppose banks in American politics.  That's a faster road to suicide than opposing Israel or hinting at reducing the Pentagon's budget.  Once your tribute to any group gives them enough money to have you eliminated then you will never stop paying it, and the American government pays that kind tribute to many, many groups.
 
2021-10-28 10:52:35 AM  
Biden can do a lot of things. He's specifically choosing not to, and he doesn't seem bothered or stressed by that at all.

That communicates some very specific and important things.
 
2021-10-28 10:52:53 AM  
have we reached the "flying cars" part of the promising and pandering yet?

As school class president, I will ban all homework!
 
2021-10-28 10:53:20 AM  

Tell Me How My Blog Tastes: AdmirableSnackbar: Joe Biden should be doing anything and everything he can by Executive Order since the Democratic Congress refuses to pass good legislation.

We need functional government at some level. We need leadership at some level. And we need results at some level. Get it farking done instead of whining about what is "proper" or not, that doesn't matter anymore.


The only people saying "nothinggonnahappen" aren't paying attention:

https://www.ed.gov/news/press-releases​/fact-sheet-public-service-loan-forgiv​eness-pslf-program-overhaul

https://www.ed.gov/news/press-releases​/us-department-education-announces-tra​nsformational-changes-public-service-l​oan-forgiveness-program-will-put-over-​550000-public-service-workers-closer-l​oan-forgiveness

https://www.ed.gov/news/press-releases​/extended-closed-school-discharge-will​-provide-115k-borrowers-itt-technical-​institute-more-11b-loan-forgiveness

https://www.ed.gov/news/press-releases​/over-323000-federal-student-loan-borr​owers-receive-58-billion-automatic-tot​al-and-permanent-disability-discharges

https://www.ed.gov/news/press-releases​/new-negotiated-rulemaking-committee-f​ocus-student-loans-targeted-discharge-​and-forgiveness-authorities

https://www.ed.gov/news/press-releases​/department-education-announces-approv​al-new-categories-borrower-defense-cla​ims-totaling-500-million-loan-relief-1​8000-borrowers

https://www.ed.gov/news/press-releases​/department-education-approves-borrowe​r-defense-claims-related-three-additio​nal-institutions

The Education Department is quite literally taking all of the administrative actions that they can in order to get to the low-hanging fruit that should have been taken care of long ago. Then they'll decide how to handle the rest.

How do I know this? Because it's all right here: https://protectborrowers.org/wp-​content/uploads/2021/02/Delivering-on-​Debt-Relief-Final.pdf

I personally know people who have already experienced life-changing outcomes from the ac ...


Biden: "I don't have the power to forgive student debt."

Also Biden: " I'm forgiving student debt for this small subgroup of borrowers, and this small subgroup of borrowers."

Sure looks performative if you're looking at it objectively instead of trying to fluff these positive, yet small efforts.
 
2021-10-28 10:53:26 AM  
Difficulty: Biden's from Delaware.
 
2021-10-28 10:53:26 AM  

misanthropicsob: He didn't even run on that, Chucky.

Why don't you put it in the reconciliation bill rather than punting the responsibility.


But the Dem senators ran on that. If the USA is a democracy, that matters. If it is a dictatorship, only Biden matters. If it is a Neo-Nazi dictatorship, Trump's still the autocrat in charge.

Chucky is trying to remind Biden that there are more agendas that won elections than just the White House's agenda.
 
2021-10-28 10:54:21 AM  

Bennie Crabtree: Trump is basically in power. Because of Manchin.


Thanks, primary voters of 2020  who just knew in their heart of hearts that FDR Part Deux could negotiate with conservatives behind the scenes!
 
2021-10-28 10:54:42 AM  
NuclearPenguins: Those pesky facts get in the way of his endless whining though.

Dude, the Dems just absolutely shat the bed with the reconciliation bill and are trying to cover up the sh*t with PACs to protect them from pissed off voters ready to vote them out, and you're STILL b*tching about "whining"?

That's a you problem.
 
2021-10-28 10:54:45 AM  
Cancelling student debt is stupid in a silo.  People who worked hard to get scholarships, etc. could have just been home smoking weed all day rather than working hard, or worked hard/paid extra after college to pay it off.  $50,000 (or some other amount) should be going to anyone who went to college regardless of how much student debt they have.
 
2021-10-28 10:55:06 AM  
Student loans are financial cancer.
 
2021-10-28 10:55:07 AM  
It is profoundly stupid to cancel student loan debt while continuing to promote student loans to pay for over-priced, underfunded colleges.

I'm in favor of finding ways to cancel/restructure most student loan debt. But if the bathtub is over-flowing, you don't start bailing it out until after you turn off the faucet that is pouring more water into the tub.
 
2021-10-28 10:55:33 AM  

Bennie Crabtree: misanthropicsob: He didn't even run on that, Chucky.

Why don't you put it in the reconciliation bill rather than punting the responsibility.

But the Dem senators ran on that. If the USA is a democracy, that matters. If it is a dictatorship, only Biden matters. If it is a Neo-Nazi dictatorship, Trump's still the autocrat in charge.

Chucky is trying to remind Biden that there are more agendas that won elections than just the White House's agenda.


Yeah, but the senators aren't putting that in the reconciliation bill; they're trying to get Joe to do it outside the bill because they're kowtowing to donor interests.
 
2021-10-28 10:56:20 AM  

Creoena: Cancelling student debt is stupid in a silo.  People who worked hard to get scholarships, etc. could have just been home smoking weed all day rather than working hard, or worked hard/paid extra after college to pay it off.  $50,000 (or some other amount) should be going to anyone who went to college regardless of how much student debt they have.


"I had to struggle and be preyed upon, so you should, too" is a selfish worldview and even worse policy.
 
2021-10-28 10:56:45 AM  
I think the proper solution here is to cancel (or dramatically lower) the interest.
 
2021-10-28 10:56:50 AM  

revrendjim: One fix would be to make the college liable for the debts of non-completers.


tell me you want to get rid of college without saying that.

Student signs up for classes, student never attends or disappears in the middle of the semester.  How is the college at fault there?
 
2021-10-28 10:57:04 AM  

wademh: It is profoundly stupid to cancel student loan debt while continuing to promote student loans to pay for over-priced, underfunded colleges.

I'm in favor of finding ways to cancel/restructure most student loan debt. But if the bathtub is over-flowing, you don't start bailing it out until after you turn off the faucet that is pouring more water into the tub.


Well, let's turn off the water.

Put that in the reconciliation bill. Free college tuition for public, state-run, universities.
 
2021-10-28 10:57:10 AM  

Headso: SpectroBoy: Banks:  Oh, so these loans are no longer secured by the government?!?  cool. cool. cool. Now you have to actually qualify for a loan and/or have a parent co-sign.  The interest rate will now be adjusted for the actual risks of lending to someone with no job, no job history, and who might be able to simply not pay it back.

Sounds like a bunch of party schools would go bankrupt and a bunch of community colleges would get a lot more students.


True, and that would probably be a good thing.

But it would also fark the poors with their lack of cash, less than spotless credit ratings, and possible lack of a cosigner.
 
2021-10-28 10:57:13 AM  

EyeballKid: NewportBarGuy: There's really only one way to solve the college problem in America. And, let's all be f*cking serious for a f*cking second, ok?

The real problem is that like 505 of that debt is for people who never actually finished school or got a degree... or they only got an associates and did not finish the bachelors...

We send FARRRRRRRRRRRRRRRRRRRRRRRRRRRR too many people to college and that drives up the cost every f*cking year.

Stop it. Just f*cking stop it.

We need more technical training... paid for with local and state tax dollars... also HUGE buy in from the companies to train the workers. Germany does this and it works out really well for them. I'm  not saying what they do would work 100% here, but we seriously f*cking need to revamp this stupid system we have.

No one wants to tell the parents or the kids, "Hey, guess what... you should not be wasting time learning about bullsh*t. You don't have it. Let's teach you a trade and you can work your way toward a six-figure career. Or, if you don't have the aptitude to lead your own crew, then you can make $55-75k as a tradesman working on a crew.

This is something we just don't do enough of.

That's the solution to the student loan problem.

Wipe out what we have accumulated now and work on fixing the goddamn system that caused all of this and keeps causing it to this day.

Mike Rowe, everybody!

Say, if a larger than ever flux of trade school graduates enters the job market, what do you think happens to those six-figure careers?


Which is why you tie it to infrastructure and climate spending. There is more than enough work to go around if the government is paying. It's work that needs to be done anyways.
 
2021-10-28 10:57:55 AM  
But what if that upsets the conservatives right on the verge of epiphany?
 
2021-10-28 10:58:00 AM  

NephilimNexus: Eliminating student debt means losing the support of the banks who profit from it.  One simply does not oppose banks in American politics.  That's a faster road to suicide than opposing Israel or hinting at reducing the Pentagon's budget.  Once your tribute to any group gives them enough money to have you eliminated then you will never stop paying it, and the American government pays that kind tribute to many, many groups.


Fark user imageView Full Size
 
2021-10-28 10:58:16 AM  
Wait, wait. We need to check with Manchin first and see how he feels about this.
 
2021-10-28 10:58:26 AM  
Biden promised to erase student debt. He downgraded that to $50k, then to $10k, and now he doesn't talk about it. At all.

Biden said "nothing would fundamentally change" if he would become president. Believe him the first time.
 
2021-10-28 10:58:37 AM  

EyeballKid: NewportBarGuy: There's really only one way to solve the college problem in America. And, let's all be f*cking serious for a f*cking second, ok?

The real problem is that like 505 of that debt is for people who never actually finished school or got a degree... or they only got an associates and did not finish the bachelors...

We send FARRRRRRRRRRRRRRRRRRRRRRRRRRRR too many people to college and that drives up the cost every f*cking year.

Stop it. Just f*cking stop it.

We need more technical training... paid for with local and state tax dollars... also HUGE buy in from the companies to train the workers. Germany does this and it works out really well for them. I'm  not saying what they do would work 100% here, but we seriously f*cking need to revamp this stupid system we have.

No one wants to tell the parents or the kids, "Hey, guess what... you should not be wasting time learning about bullsh*t. You don't have it. Let's teach you a trade and you can work your way toward a six-figure career. Or, if you don't have the aptitude to lead your own crew, then you can make $55-75k as a tradesman working on a crew.

This is something we just don't do enough of.

That's the solution to the student loan problem.

Wipe out what we have accumulated now and work on fixing the goddamn system that caused all of this and keeps causing it to this day.

Mike Rowe, everybody!

Say, if a larger than ever flux of trade school graduates enters the job market, what do you think happens to those six-figure careers?


What do i think happens? I think they charge the f*cking same amount and I don't have to wait 2 goddamn weeks for a plumber to come out.

In case you weren't aware we have a CRITICAL shortage of highly trained workers like HVAC, Plumbers, Electricians. It's a goddamn nightmare.

But you think the wages will fall to minimum wage. Right. That checks out.

*rolls eyes*
 
2021-10-28 10:59:00 AM  

Creoena: Cancelling student debt is stupid in a silo.  People who worked hard to get scholarships, etc. could have just been home smoking weed all day rather than working hard, or worked hard/paid extra after college to pay it off.  $50,000 (or some other amount) should be going to anyone who went to college regardless of how much student debt they have.


Tear that strawman down good!
 
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