MAGA is happy to ridicule and mock students who are buried alive in compounding interest, calling them "commies" and "dead beats" and "bums" and all the rest, but not a word about the Merchant Class being handed billions in free paychecks to sustain their private businesses during lockdowns. Once again, it's "socialism for the rich, consequences for the poor."
How can the feds justify loan forgiveness for the Merchant Class but not for poor students?
"Asking for a friend." 🙄
If those students can't make money with their degrees, it's the colleges that should be forced to pay back their loans. Not the taxpayers.
I'm confused who you think you're talking to here. I don't know anyone who doesn't think the PPP loans were massively retarded.
Yea, all that free money massively contributed to inflation.
Just thinking out loud, I guess.
I agree, OP. Big Con loves to trot examples of Leftists acquiring hundreds of thousands of dollars in debt for underwater basketweaving degrees and say your tax dollars are going to bail them out. The reality I experienced is that a lot of cohorts in my generation were impressionable teenagers steered by authority figures into taking on lots of debt that they didn't have the life experience to understand. And yeah, someone of them were shithead Leftists, but a lot of them were good kids screwed over by the system. There needs to be more nuance to this issue. Especially when our government routinely bails out failing businesses and dumps billions into the black holes that are Ukraine and Israel. Americans are long past overdue on getting a bailout for anything.
I'm blessed to not have any college debt, but I still clearly remember my high school counsellor handing out a survey. We were asked to list our intended major and the top three colleges we intended to apply. Then he said, "If you're not sure which colleges you're going to apply to yet, just write 'community college' so you're not a loser by default."
I still remember that phrase, "loser by default." He wasn't joking, either. Like you said, we were impressionable teenagers steered by authority figures into taking on lots of debt that we didn't understand. All we "knew" was that we didn't want to be a "loser by default." The truth is that almost nobody knows what they want to do for the rest of their life when they're 17 y/o. Which explains why almost nobody works in the field they studied in college.
Anyhow, they could forgive the debt, but they knew what they were doing when they made the loans exempt from bankruptcy. They were creating a new class of indentured servants, of debt slaves that, four years behind on the debt, could never hope to climb their way out from under the compounding interest. Biden was challenged on the legality of forgiving the loans, but he could have reappropriated money from the Dept. of Ed's budget to "pay" the loans. Anyhow ...
And those are just the stories about duped, but well-meaning teachers. It gets worse than that. Many years ago, there was a big scandal in the local news where some scam college was intentionally targeting vulnerable people with predatory student loans. Foster kids, the homeless, the mentally disabled—people who have generally have no life experience with colleges, nobody to look out for them, and no capacity to understand what they were signing up for. This shitty scam college got them to sign on to $100,000+ loans. This all entered the news when the college suddenly declared bankruptcy and shut down, leaving them all without degrees and lots of debt.
IMO, American citizens are owed reparations from the literal generations of psychological, pharmacological, financial, and straight up violent terrorism waged against us by our own government. If the US government can afford infinite bailouts to banks who knowingly made bad decisions, Ukraine, and Israel, then we can bailout the younger generation who got fucked over on the student loan issue. Frankly, the US government owes us a hell of a lot more than mere student loan forgiveness.
I think the problem is more that affording those infinite bailouts will then go right back to costing the same people you are trying to save in the long run.
Hyper-inflation here we come!
That's the same excuse Big Con feeds us every time someone suggests a bailout for the American citizen. "Oh no, muh national debt!" Meanwhile, the national debt handwringing is nowhere to be found when it comes sending more money to Israel or bailing out a corrupt bank that made bad investments. So until the US government shuts off the money to foreign countries and banks, I don't accept that as an excuse. If we can find the money for Israel, then we can find the money to help American citizens
THANK YOU. I swear, if I have to hear some conservative talking head go on one more time about muh basket weaving and muh gender studies but then go to a sponsored ad read to say we all should enroll in a US Constitution course or bible studies at Hillsdale or whatever, I’ll flip my lid.
My reality is I made an unfortunate gamble on the tech sector. Graduated with perfect grades across the board, proceed to get strung along with contract temp work and the ever present promise of “it’ll build experience!” while that experience never leads anywhere when I go to apply somewhere full time.
So I took the Dempanic plandemic bailout money and have been sitting on it ever since. Can pay my decade old loan off any time, as politicians keep loan forgiveness as a small pawn on the board as an easy campaign promise to float around when they know conservative and Trump-appointed judges will immediately move to block it if they actually move to try it, as we saw several times in the Biden administration.
So now I’m doing unskilled warehouse work for as much or more per hour than all my short term barely full time dead end tech contracts were offering.
I hear ya. A lot of good people made "unfortunate gambles" only to have the rug pulled out under them by forces beyond their control. These shithead trust fund influencers and clueless Boomers still mentally living like its 1970 are completely out of touch with this issue.
Forgiving student debt is a non-starter for three reasons.
The primary beneficiaries of student loan forgiveness would be overwhelmingly leftist, and I hate leftists and want them to suffer. More seriously, conservatives who opted not to go to college would need to be compensated with equivalent debt forgiveness.
Tuition rates exploded because government interfered in the market. Get government out of the student loan business and watch tuition rates fall. No more subsidizing leftist indoctrination camps with guaranteed government loans.
The primary beneficiaries of predatory student loans are the universities, which are also overwhelmingly leftist. They have multi billion dollar endowments. Go get your money back from the grifters who actually stole it. Sue the universities.
Likewise the predominantly men (and therefore also more conservative) who went to college with an actual plan to successfully pay it off, and therefore don't have the debt any more. Men go to college for financial reasons, women go to college for social reasons.
Short answer? The PPP 'loans' will (likely) be paid back in taxes at a much higher rate than student loans. And even if they aren't paid back at all, it's a lot easier to show economic benefit (particularly in the short term) when you give money to a business and not a consumer.
The PPP loans shouldn't be forgiven either? And I've not heard one conservative arguing for it?
And yes. If you can't pay back your loans, you are a deadbeat. Read the contract beforehand and don't sign up for one with ridiculous interest on it, you fucking retard.
Like I said, "Socialism for the rich, consequences for the poor."
Any other kind of debt can be forgiven via bankruptcy for a reason, but they entrapped young people into debt slavery. Kindly eat a dick.
You make a really good argument. I agree, you shouldn't be able to get out of any loan by filing bankruptcy.
The PPP was an attempt to recover from a government fuckup. Those businesses only needed loans because they were needlessly shut down.
Student loan debt is because of choices that those students made. If any of them were paying tuition for classes they weren't able to attend because of the government's COVID fuckery, then forgiving just that portion and only that portion would be equivalent. That would have actually been more reasonable than the PPP IMHO.
There is a difference in bailing out people where you're the entity responsible and bailing out people where they are the entity responsible. Also, the question is deliberately conflating loans paid out for one group and loans defaulted for the other. They need to fix that before it's even worth addressing. Defaulted PPP loans shouldn't be forgiven either.
See, that's how ignorant you are about the situation. The PPP "loans" are called "loans," but it was clear from the start that they DID NOT have to be paid back. Not even the interest. It was a "loan" in name only to avoid Congressional oversight. It was a $793 billion bribe to America's Merchant class, yet assholes like you will go out of your way to kick American students while only feigning to be upset about the rich getting bailed out. Yes, I can tell you're a Republican voter. Trust me, it's blatantly obvious.
And telling a teenager that they're going to be "loser" and a "bum" UNLESS they take a loan and attend a college doesn't sound like much a choice. And again, going out of their way to exclude the loans from bankruptcy points to the malicious intent to create debt slaves.
But you go on spewing your Boomer bullshit.
Look at you, fighting against stuff literally no one said. You're winning. Good job!
That's the reality, which you completely neglected to consider or mention in your narrow, ignorant take. What's motivating teenagers into taking on so much debt? What teenager is actually eager to commit to four more years of schooling after finally getting free from high school? It's pressure from their parents. It's the expectations of others. It's the social stigma of being looked down on as a "bum" UNLESS they sign up for college.
People like you can't win on this topic and you know it, which is why you have to worm around with sarcasm and insults. It's so boring.
This is a leftist mindset. External locus of control. "He's not a thief, he just stole because society motivated him to steal. He a gud boy!"
I don't think federal student loans should even be a thing. Yes, the system is predatory. I don't think PPP was a good use of money either. But you asked what the difference is and I told you.
PPP - The government trying to pave over a pothole they made.
Forgiving student loans - Demanding the government fill in a you made in your backyard.
That's the difference. You might not like it and you can argue all you want about why the student was motivated to dig a hole in their yard, but the key difference between the two is responsibility for how the situation was created. I even suggested that tuition wasted due to COVID overreaction should be forgiven, so your merchant/student class argument against me is extra retarded.
For whatever it's worth, the government should have never offered student loans and they shouldn't have shut down a damn thing for a cold either.
I already said that the govt shouldn't have gotten involved in loans, which inflated the cost of tuition by 22x the average prior. Meaning loan forgiveness would, in fact, be them "paving a pothole they made."
Fortunately, it doesn't matter what you think. Millennials forward are in favor, and Boomers like you are just salty, bitter and miserable as you've always been. It shouldn't matter what the money was applied towards, whether for Israel or student loans. If the gov't is going to forgive some loans for some people and not other loans for others, that's fucked up and you're a hypocrite for defending it. I'm certain you're the kind of person that thinks using safety equipment is for "pussies" and that everyone should be equally miserable at work because "that's what being a man is about."
This conservative would do 2 things about student loans: make them dischargeable by bankruptcy again, and end all Federal student loan guarantees. If you want to get a Masters in gender studies, have at it, but the taxpayers will neither loan you the money to do so, nor will they guarantee/backstop any private lender.
The only reason university degrees took on the stature they did because employers were barred from giving IQ tests by Griggs vs Duke Power, which itself draws from the 1964 CRA as the basis for the decision, because the employees that were "discriminated" against were black.
Agreed. The govt' shouldn't have gotten involved in student loans. I know for a fact that tuition was about $1,500/ year before student loans. These loans (which were designed as financial traps) were a "solution" to a problem that never existed. Look at the govt incentives for EVs. As soon as they went away, Tesla dropped the price by exactly $7,500. Kamala was talking about giving first-time home buyers a $25k down payment. Everyone was quick to realize that would only bump the cost of homes by $25k.
The gov't NEVER helps any situation by handing out checks. I'm not advocating for that by any means. But if we're going to hand out "free" money to foreigners and rich folks, then we should extend the same to American students so they can move on with their lives and get out from under all this crushing debt. Millions of them are being excluded from the economy (buying homes, cars, etc.) because the student debts are throwing off their debt/ income ratios. If the gov't wants to help the economy, they'd release the debt slaves from bondage.
Because one was a government loan and the other is a private sector bank loan.
Wrong again. I already posted here that the PPP "loans" were called loans to bypass the Republican Congress, but the program has loan forgiveness, including the interest built into it. Which contradicts the Republican/ Boomer narrative that loan forgiveness is "unconstitutional."
As for student loans, federal student loans are funded by the U.S. government. The federal government fully guarantees almost all student loans, with some held by agencies like Sallie Mae or a third-party loan servicing company. While some private companies may SERVICE federal loans (by collecting/ distributing payments), they don't directly own the loans. In other words, it's not their money. Some private banks do offer student loans, but that's obviously not what we're talking about here.
... now look at ALL the words I had to write in response to your one ignorant, uninformed sentence. You see how much work it takes to "clean up" ignorance like yours? This is why nothing gets done and we waste years going in circles.
...you're the entire reason things go in circles, Einstein.
Just because our government shot us in one foot doesn't justify letting them shoot our other foot. That $793 billion that was printed out of thin air is why inflation went crazy like it did, and I don't support doing even more damage just to make things "fair" for other parasites.
Any sympathy I had for student loan holders went out the window when they all sat on their asses waiting for loan forgiveness instead of throwing everything they could at the principal while that compound interest that is "burying them alive" was frozen for years.
If you borrowed it, nobody but you is responsible for paying it back. And I don't give a single fuck who has a problem with that stance.
Like I said, "Socialism for the rich, consequences for the poor."
Any other kind of debt can be forgiven via bankruptcy, but they entrapped young people into debt slavery. Kindly eat a dick.
We don't support socialism for the rich either, retard. We want it all stopped. Bankruptcy is allowed for other debts because those other debts are backed by collateral that can be taken in place of payment.
If you want to throw a pity party over not getting your gimmedats then knock yourself right out. We don't care. We aren't fucking communists.
Yeah, you're doing the same shit they do over at Boomers.lose. Again, no question about the constitutionality about paying private employees with $793 billion in tax dollars, but $86 billion for students is too much to ask. Ukraine got $174 billion and Israhell has gotten $233.7 billion.
That's money we'll never get back. Money for strangers, but not American youth. Say that you "want it all stopped," but you assholes never get as venomous as you do about student loan forgiveness. Very strange. Typical Boomer bullshit.
If you think this kind of emotional manipulation is going to get us to support lefty policies, you haven't been paying attention for the last decade. We are vitriolic because controlled opposition wastes of oxygen like you keep trying to subvert the MAGA movement in an attempt to push us to the left to keep the status quo going.
Your "hello fello MAGA peoples" schtick isn't going to work. Pay your own fucking debts. I did it and you can too.
Yeah, you're not even reading what I'm posting.
Again and again, you're just digging in your heels to vomit your grumpy, bitter, resentful Boomer bullshit.
You aren't reading what I am posting. You keep acting like the PPP loans justify doing even more commie shit. They don't.