Economy Top Democrats push to pay off $50,000 student loans

[White Whale]

Chuck Schumer and Elizabeth Warren reintroduced a resolution to forgive $50,000 student loan debt.

Here is a way to really divide the country pay off the debt from some of America’s top earners. Anyone that that paid of their student loans or did not take any out will be screwed over causing massive resentment.

https://www.cnbc.com/2021/02/04/big...s-plan-to-forgive-50000-of-student-debt-.html

 

[Crom Cruach]

Much better use of the money than tax cuts for corporates.

Reverse Trump's corporate tax giveaway to pay for it.

Immense benefits to the real economy rather than funding stock buy-backs to make the 1%ers even richer.

Unburdened college graduates will spend more, buy houses and cars and generate more wealth with their ideas and work ethics.

Making a CEO richer is not going to benefit anyone except the CEO and selected PACs

It's a No brainer.

 

[Papi Chulo]

College is the new high school. Democrats want young adults to have free "college" and get indoctrinated in the Woke and Marxism. This creates another generation of social justice warriors.

 

[bobgeese]

And let me guess for all the responsible folks who have been paying their loans and refinanced, they are shit out of luck?

 

[Inoffensive1]

We need to get every American possible educated and into the workforce, with an aim higher than mcjobs.

I'm happy to help pay off student loans, and would support a National effort to show the country that Americans help other Americans because it's the right thing to do, and a tasty way to do it.

 

[jrams]

This feels like immigration amnesty where it's a one time "fix" but doesn't address the root cause so we'll be back in this position in the near future again.

I'm for student loan forgiveness, because it isn't healthy for our society to have so many people saddled in debt, but it just feels like there is no good solution to it. No matter what, certain people are going to get screwed by it.

 

[Last Falconry]

I would love to hear a single cogent explanation of why anyone would possibly be against something like this. Something that has one aim, which is to help people not start their professional lives buried under mountains of debt. What is wrong with you

 

[Islam Imamate]

Chuck Schumer and Elizabeth Warren reintroduced a resolution to forgive $50,000 student loan debt.

Here is a way to really divide the country pay off the debt from some of America’s top earners. Anyone that that paid of their student loans or did not take any out will be screwed over causing massive resentment.

https://www.cnbc.com/2021/02/04/big...s-plan-to-forgive-50000-of-student-debt-.html

And let me guess for all the responsible folks who have been paying their loans and refinanced, they are shit out of luck?

How are those people screwed over? Wouldn't paying off your student loans presumably improve your credit score while having the government pay off your debt wouldn't? If so they still derived benefit from paying it off themselves.

Much better use of the money than tax cuts for corporates.

Reverse Trump's corporate tax giveaway to pay for it.

Immense benefits to the real economy rather than funding stock buy-backs to make the 1%ers even richer.

Unburdened college graduates will spend more, buy houses and cars and generate more wealth with their ideas and work ethics.

Making a CEO richer is not going to benefit anyone except the CEO and selected PACs

It's a No brainer.

I agree its better than cutting corporate taxes and as someone with less than $50k of student I'd love for it to pass but I don't think its the best idea. There's truth to the right wing counter argument that students are more likely to be privileged and perhaps not the people who should be getting government help. I think a cash transfer to people taking care of dependents would be a better policy, you're still stimulating the economy but you're also fighting poverty in a much more direct and effective way.

If the government wants some student debt relief then it should cancel interest accrued on student debt so students pay back every red cent they borrowed, no more and no less.

 

[bobgeese]

How are those people screwed over? Wouldn't paying off your student loans presumably improve your credit score while having the government pay off your debt wouldn't? If so they still derived benefit from paying it off themselves.

I agree its better than cutting corporate taxes and as someone with less than $50k of student I'd love for it to pass but I don't think its the best idea. There's truth to the right wing counter argument that students are more likely to be privileged and perhaps not the people who should be getting government help. I think a cash transfer to people taking care of dependents would be a better policy, you're still stimulating the economy but you're also fighting poverty in a much more direct and effective way.

If the government wants some student debt relief then it should cancel interest accrued on student debt so students pay back every red cent they borrowed. no more and no less.

Because people with private loans (who did the smart thing to refinance them) don't receive any help.

 

[Sketch]

College is the new high school. Democrats want young adults to have free "college" and get indoctrinated in the Woke and Marxism. This creates another generation of social justice warriors.

What the fuck? Is that real?

 

[bobgeese]

College is the new high school. Democrats want young adults to have free "college" and get indoctrinated in the Woke and Marxism. This creates another generation of social justice warriors.

America is fucked...

 

[Joe]

Nah we gotta cut taxes for millionaires. Thats who really needs relief

 

[Natural Order]

So long as their credit scores are adjusted accordingly.

 

[Big Nasty Edison]

Because people with private loans (who did the smart thing to refinance them) don't receive any help.

Cool let's increase corporate taxes and reimburse those people at least five years interest or something.

It's a good way to help the wealth trickle down.

 

[TryggeTryggvar]

And let me guess for all the responsible folks who have been paying their loans and refinanced, they are shit out of luck?

Sometimes when moving forward it will come at the expense of the people who have already paid their debts to the old system, its not always a bad thing.

I do however not approve of student debt forgivenes as it leads lots of idiots who have no plan to actually finish school but use it for parties, clubs and social connections. Make student loans interest free if people graduate, this way people will have an added incentive to only study if they plan on finishing up.

 

[Sycho Sid]

While I am ok with this, it does not exactly solve the long term issue.

 

[White Whale]

Sometimes when moving forward it will come at the expense of the people who have already paid their debts to the old system, its not always a bad thing.

I do however not approve of student debt forgivenes as it leads lots of idiots who have no plan to actually finish school but use it for parties, clubs and social connections. Make student loans interest free if people graduate, this way people will have an added incentive to only study if they plan on finishing up.

They should be working to make college more affordable. That would mean getting rid a junk courses and degrees.

 

[TeTe]

If the government wants some student debt relief then it should cancel interest accrued on student debt so students pay back every red cent they borrowed. no more and no less.

Exactly... I've been saying this all along. I have no issue with paying back money I borrowed but the compound interest is bullshit.

It's amazing how quickly I've been paying down my balance since April.

 

[Pride23]

It doesn't solve the actual issue.

 

[skysolo]

Sometimes when moving forward it will come at the expense of the people who have already paid their debts to the old system, its not always a bad thing.

I do however not approve of student debt forgivenes as it leads lots of idiots who have no plan to actually finish school but use it for parties, clubs and social connections. Make student loans interest free if people graduate, this way people will have an added incentive to only study if they plan on finishing up.

Or make college tuition-free.