Dems are floating a 50k student loan debt forgiveness by Executive Order

[mule_eer]

I agree with all of this. Note: trade schools are a fraction the cost of univeraities.

I agree on that, but people take out loans to pay for more than just tuition. Some folks are likely taking the max they can at both in order to fund living expenses on top of tuition.

Another thing that really hurts the system, trade or traditional college, is the folks who incur the debt without finishing the degree.

I don't remember the name of the school, but I thought it was in Georgia. Basically, it was considered one of the lower tier of public universities in the state. Due to that, they tend to get the folks who couldn't get into the higher tiers, but their graduation rates were really high. They talked about how they did that. The administration puts the emphasis on education. They teach to the students they have, and their professors are instructors first, everything else second. I wish I still had a link to the article or at least a better recollection of the details. It seemed like a no-brainer to address education in that way. It's not necessarily the prevailing attitude in higher education though.

 

[dave]

I agree on that, but people take out loans to pay for more than just tuition. Some folks are likely taking the max they can at both in order to fund living expenses on top of tuition.

Another thing that really hurts the system, trade or traditional college, is the folks who incur the debt without finishing the degree.

I don't remember the name of the school, but I thought it was in Georgia. Basically, it was considered one of the lower tier of public universities in the state. Due to that, they tend to get the folks who couldn't get into the higher tiers, but their graduation rates were really high. They talked about how they did that. The administration puts the emphasis on education. They teach to the students they have, and their professors are instructors first, everything else second. I wish I still had a link to the article or at least a better recollection of the details. It seemed like a no-brainer to address education in that way. It's not necessarily the prevailing attitude in higher education though.

Oh yes. This is a widespread racket. Its free money except its only free until you graduate.

 

[NYC_Eer]

Can they do that?

To be clear, this was something Schumer floated as an idea, and he said in theory it could be done by EO. Biden has not said he's in favor of this. The student loan debt forgiveness he has endorsed in the past requires national or community service ($10k/year up to 5 years). So, the country is getting something in return for the loan forgiveness.

 

[roadtrasheer]

It would be money better spent than wasting it on a medieval wall and moat.

Just give th

I believe most technical schools also allow folks to take out federally backed loans to pay tuition. I don't think this is isolated to just traditional college kids. Having said that, odds are pretty good the kid taking out loans to pay for culinary school is going to struggle more with repayment than the kid learning how to weld. I don't think that's different than the argument of paying for one kid's art history degree and another's engineering degree. One of those 2 is more likely to be able to earn enough to easily repay their loan, and the other is going to struggle.

I tend to agree with a lot of others on here. I'm not excited about the idea of writing off a bunch of student debt. If we are going to do that, I think we should put caveats on why we are doing that - bamaeer's example of his son getting some amount of loan forgiveness for teaching in certain schools.

I tend to agree with Op2 as well. Schools take advantage of the idea that students expect to borrow money to get an education. And I see a lot of land grant universities that seem to take advantage as well. I'm a resident in CO, pay property and income tax in the state. It would be no cheaper to send a kid to any of the major state universities than it would be to ship them to WVU and pay out-of-state tuition. That makes no sense to me. CO is supposed to be putting the pot taxes toward education. I believe the lottery and gambling money is supposed to fund education. That's all on top of the portion of the income tax I pay that ends up funding education. Where is that reflected in the tuition? It's not because the students need new saunas at the gym or marble floors in the administration building.

I agree with you , but if you get a loan no matter what it's for its your responsibility, not mine or the government.
I also agree that people who take unwanted jobs should get breaks . I believe in WV if you take a nursing class & work for 3 years in state it's free could be wrong.
I also agree that universities are robbing our kids with the amount of tuitions due to the ease of getting loans & adding unnecessary classes.
To the culinary vs welder deal , this is a free country we all can choose what we do , choose a job you love & learn to live within your means.

 

[wvu2007]

To be clear, this was something Schumer floated as an idea, and he said in theory it could be done by EO. Biden has not said he's in favor of this. The student loan debt forgiveness he has endorsed in the past requires national or community service ($10k/year up to 5 years). So, the country is getting something in return for the loan forgiveness.

Lol it's cute that you think that Biden has his own plans.

 

[roadtrasheer]

According to you. We've somehow survived all these years prior. The Constitution, you speak of, lets the legislative branch of government appropriate our funds. They have yielded power to the executive on "emergency" basis. The wall was a made up emergency, and it's easy to see how student debt can be pushed as a made up emergency. Again, that's more of you picking and choosing what you want to allow.

So us funding all the illegals & there crimes , not to mention the heroin & other drugs that come from our southern brothers not a national emergency...I'm guessing you haven't looked at what it cost a state to arrest a drug dealer lately, could pay for a couple technical school loans for it..

 

[Pospecteer]

Here's a tissue, puss.

I too borrowed money to pay my way through college and I paid it back. I'm not such a pussy that I can't be happy for other people who may benefit from loan forgiveness. The whole economy benefits from people receiving loan forgiveness. This frees up money, they would otherwise pay to a single creditor, to be spent on the purchase of other items, which in turn benefits the retail sales and manufacturers/producers of those items. It could also open up the opportunity to purchase a home. I am especially happy for those in the field of education, who are underpaid, who may benefit from loan forgiveness.

With the interest rates being what they are these days on student loans, the people taking out the loans are being preyed upon. I would be thrilled to see this.

Sounds like a tax cut that Trump enacted...interesting.

 

[roadtrasheer]

Here's a tissue, puss.

I too borrowed money to pay my way through college and I paid it back. I'm not such a pussy that I can't be happy for other people who may benefit from loan forgiveness. The whole economy benefits from people receiving loan forgiveness. This frees up money, they would otherwise pay to a single creditor, to be spent on the purchase of other items, which in turn benefits the retail sales and manufacturers/producers of those items. It could also open up the opportunity to purchase a home. I am especially happy for those in the field of education, who are underpaid, who may benefit from loan forgiveness.

With the interest rates being what they are these days on student loans, the people taking out the loans are being preyed upon. I would be thrilled to see this.

So you're saying educated people cant take care of themselves? Loan forgiveness , does than mean the college dont get paid? Well wouldn't that take money out of the community? The same people crying they cant pay are the same people who stop at Starbucks for a 6$ cup of coffee every day & spend their income foolishly or paid way to much for a useless degree. How did the older generation do it ? I'll tell ya, they worked & had to much pride to ask for a hand out .

 

[countryroads89]

So you're saying educated people cant take care of themselves? Loan forgiveness , does than mean the college dont get paid? Well wouldn't that take money out of the community? The same people crying they cant pay are the same people who stop at Starbucks for a 6$ cup of coffee every day & spend their income foolishly or paid way to much for a useless degree. How did the older generation do it ? I'll tell ya, they worked & had to much pride to ask for a hand out .

I think the loan forgiveness means the US government pays the creditors. So the lenders are not losing the money.

 

[Jason Voorhees]

Where's my 50k? I need my house paid off.

It ended up in one of Trumps off shore accounts.

 

[GrimReaper82]

I think the loan forgiveness means the US government pays the creditors. So the lenders are not losing the money.

You would know about free handouts.

 

[dave]

I think the loan forgiveness means the US government pays the creditors. So the lenders are not losing the money.

You misspelled working class taxpayers.

 

[roadtrasheer]

I think the loan forgiveness means the US government pays the creditors. So the lenders are not losing the money.

Lol I find it funny you think the u.s government has money...you mean us poor uneducated highly skilled scummy deplorables get the opportunity to pay someone else's way in life because they are to incompetent to do so, I understand

 

[wvu2007]

Biden hasn't even stepped foot in the white house and already floating ideas to raise taxes on Americans

 

[WVUCOOPER]

Biden hasn't even stepped foot in the white house and already floating ideas to raise taxes on Americans

Is he threatening tariffs?

 

[mule_eer]

Biden hasn't even stepped foot in the white house and already floating ideas to raise taxes on Americans

That's an idea Schumer floated. Biden might run with it, but I doubt it.

 

[WVUCOOPER]

Where's my 50k? I need my house paid off.

#poor

 

[dave]

That's an idea Schumer floated. Biden might run with it, but I doubt it.

I dont underatand why Schumer is floating ideas that the executive branch should use to get around the legislative branch. It seems almost heresy for a senator to imply that.

 

[mule_eer]

I dont underatand why Schumer is floating ideas that the executive branch should use to get around the legislative branch. It seems almost heresy for a senator to imply that.

Who knows. Maybe he was asked what he thought Biden could do about student debt if the GOP controls the Senate? I don't like spending that much money on an EO. It seems inherently wrong.

 

[WVUCOOPER]

Who knows. Maybe he was asked what he thought Biden could do about student debt if the GOP controls the Senate? I don't like spending that much money on an EO. It seems inherently wrong.

EOs are way out of control. Abused by Obama and taken to the extreme under Trump. Hopefully Congress will try to claw back some of the power they've ceded. lmao. I'm sure that will happen.

 

[MichiganHerd]

I commuted to school, but I still ended up in $15,000 in loans, which I paid off.

U.S. government will owe me roughly $47,000 in reparations. I'll help out the economy and buy a new truck.

 

[mule_eer]

EOs are way out of control. Abused by Obama and taken to the extreme under Trump. Hopefully Congress will try to claw back some of the power they've ceded. lmao. I'm sure that will happen.

If they do that, then they have to accept responsibility for something.

I've heard some folks talking about bringing back earmarks. The argument is that it takes the ideological issues away, and Congress might actually do something that isn't a straight party line vote. I'm not sure that I agree in principle or in fact, but it's an interesting point of view.

 

[WVUCOOPER]

If they do that, then they have to accept responsibility for something.

I've heard some folks talking about bringing back earmarks. The argument is that it takes the ideological issues away, and Congress might actually do something that isn't a straight party line vote. I'm not sure that I agree in principle or in fact, but it's an interesting point of view.

It's not like spending has gone down without earmarks. Ultimately there would need to be guidelines for earmarks.....that would never be followed and slowly eroded. Interesting premise, but don't bring them back.

 

[wvu2007]

No doubt that pedo Joe wants to tax american workers

Biden: Student Loan Forgiveness ‘Figures In My Plan’

Joe Biden spoke about student loans today.

www.google.com

 

[WVUCOOPER]

I don't like spending that much money on an EO

Another aspect to this.....the forgiven amount becomes taxable. 50k in add'l income is a big deal to the class of people seeking this relief. Probably means a lot more work and money for me. In retrospect, I fully support this measure. All hail King Joe!!

 

[dave]

Who knows. Maybe he was asked what he thought Biden could do about student debt if the GOP controls the Senate? I don't like spending that much money on an EO. It seems inherently wrong.

I dont think forgiving debt should come that easily. Perhaps some kind of civil service for debt reduction plan would be more useful.

 

[Pospecteer]

I dont think forgiving debt should come that easily. Perhaps some kind of civil service for debt reduction plan would be more useful.

If you work in Higher Ed, the gov. or certain gov. programs that provide workers to non profits (americore) they have student debt forgiveness if you stay for 10 years...the people in the program continue to rack up debt taking classes knowing that if they make it to 10 years...life is good.

 

[dave]

If you work in Higher Ed, the gov. or certain gov. programs that provide workers to non profits (americore) they have student debt forgiveness if you stay for 10 years...the people in the program continue to rack up debt taking classes knowing that if they make it to 10 years...life is good.

I stated debt reduction, not forgiveness. At some point people need to learn that debt has to be repaid and if it is not there are negative consequences like bankruptcy or credit hits.

 

[mule_eer]

I stated debt reduction, not forgiveness. At some point people need to learn that debt has to be repaid and if it is not there are negative consequences like bankruptcy or credit hits.

You can't dump student loan debt through bankruptcy. Large amounts of student debt limits that individual's ability to make future purchases, cars, houses, etc. So you can argue that this issue stifles other markets and props up the education sector. Forgiving that debt is a bad solution. The cost of education is where the solution lies, but how do you force that issue?

 

[COOL MAN]

If you work in Higher Ed, the gov. or certain gov. programs that provide workers to non profits (americore) they have student debt forgiveness if you stay for 10 years...the people in the program continue to rack up debt taking classes knowing that if they make it to 10 years...life is good.

In my daughter's case, she's been involved in such a Program where a fairly large percentage of her loan debt will be forgiven upon her accumulation of 5 years combined tenure in lower income districts. For her, it includes the additional debt she's incurred in pursuit of her graduate degree.

 

[Mntneer]

You can't dump student loan debt through bankruptcy. Large amounts of student debt limits that individual's ability to make future purchases, cars, houses, etc. So you can argue that this issue stifles other markets and props up the education sector. Forgiving that debt is a bad solution. The cost of education is where the solution lies, but how do you force that issue?

Gotta start putting pressure on the land grants and public Universities.

In my daughter's case, she's been involved in such a Program where a fairly large percentage of her loan debt will be forgiven upon her accumulation of 5 years combined tenure in lower income districts. For her, it includes the additional debt she's incurred in pursuit of her graduate degree.

I'm fine with these type of programs, where the loan debt is covered by some form of work, especially if it helps cover those loan costs, while providing a service and a benefit to a sector that is lacking.

 

[Pospecteer]

In my daughter's case, she's been involved in such a Program where a fairly large percentage of her loan debt will be forgiven upon her accumulation of 5 years combined tenure in lower income districts. For her, it includes the additional debt she's incurred in pursuit of her graduate degree.

Teach America?

 

[oceantide83]

Biden needs to give up on this fake president-elect charade. Can't wait until the Supreme Court lays down the law on this clown.

 

[MountaineerWV]

Let me float this idea. How about having adjustable tuition based on your field and level rather than a flat rate for everyone? For instance, if you decide to go in to a field that average salary income is between $40,000-60,000, your tuition would be X, while if you decide to go in to a field where that average salary income is between $200,000-400,000 your tuition would be Y? Is that even possible? I could also be deferred to when you get a job, and then based on your yearly income at that point (based off your income taxes). The college would take a portion of your yearly salary as payment, as predetermined by your salary and field of study.

Again, not suggesting this as what I want, but I've always thought of a flat rate for everyone is kind of out-dated. I mean we can have 20 different cell phone plans but we must have one for tuition?

 

[DvlDog4WVU]

Let me float this idea. How about having adjustable tuition based on your field and level rather than a flat rate for everyone? For instance, if you decide to go in to a field that average salary income is between $40,000-60,000, your tuition would be X, while if you decide to go in to a field where that average salary income is between $200,000-400,000 your tuition would be Y? Is that even possible? I could also be deferred to when you get a job, and then based on your yearly income at that point (based off your income taxes). The college would take a portion of your yearly salary as payment, as predetermined by your salary and field of study.

Again, not suggesting this as what I want, but I've always thought of a flat rate for everyone is kind of out-dated. I mean we can have 20 different cell phone plans but we must have one for tuition?

The only issue I see or rather the big one is the broad scaling within a specific degree, business for example. That, and understanding you’re more than likely to work in a field outside of your degree than you are.

Also, as an alternative, maybe incentivize for fields of need for deferment. Art history and gender studies and the like degrees shouldn’t be eligible for reimbursement. Or Golf aswas the case with Andy Katzemoyer.

 

[mule_eer]

Let me float this idea. How about having adjustable tuition based on your field and level rather than a flat rate for everyone? For instance, if you decide to go in to a field that average salary income is between $40,000-60,000, your tuition would be X, while if you decide to go in to a field where that average salary income is between $200,000-400,000 your tuition would be Y? Is that even possible? I could also be deferred to when you get a job, and then based on your yearly income at that point (based off your income taxes). The college would take a portion of your yearly salary as payment, as predetermined by your salary and field of study.

Again, not suggesting this as what I want, but I've always thought of a flat rate for everyone is kind of out-dated. I mean we can have 20 different cell phone plans but we must have one for tuition?

One of my nephews looked at a school in or near San Fran that was tuition-free, but you did owe them a percentage of your salary once you graduated and started working. I don't remember how long you had to pay them that cut. It wasn't a state school. It was really a computer programming curriculum, and I think the school was started by some former tech folks. He thought about it, but opted not to go in the end. Part of that decision was because the cost of living in San Fran made going there at least as expensive as paying tuition somewhere else.

 

[Pospecteer]

One of my nephews looked at a school in or near San Fran that was tuition-free, but you did owe them a percentage of your salary once you graduated and started working. I don't remember how long you had to pay them that cut. It wasn't a state school. It was really a computer programming curriculum, and I think the school was started by some former tech folks. He thought about it, but opted not to go in the end. Part of that decision was because the cost of living in San Fran made going there at least as expensive as paying tuition somewhere else.

The School of he Ozarks is free, you just have to work during your time there. Their grads do pretty well. Higher Ed is cracking down on what students can take and watching how much debt they take on. It will take years to self correct. Covid wiped out any reserves the schools had...it may dampen Higher Ed for years.

 

[mule_eer]

The School of he Ozarks is free, you just have to work during your time there. Their grads do pretty well. Higher Ed is cracking down on what students can take and watching how much debt they take on. It will take years to self correct. Covid wiped out any reserves the schools had...it may dampen Higher Ed for years.

Berea College in Kentucky is the same. They've been doing that for a long time. I know I looked into it in the late 80's when I was trying to figure out how to get my degree without going into debt.

 

[Pospecteer]

Berea College in Kentucky is the same. They've been doing that for a long time. I know I looked into it in the late 80's when I was trying to figure out how to get my degree without going into debt.

Did not know that I lived in KY for over 8 years. College is expensive...I have two out and doing well (except for covid stuff) and one who is a Sophomore. She received a lot of money for academics and I make a career move that helped a lot. If you live in WV and take high school 3/4 serious, you should be able to get free tuition. Room is board for those that are above avg students.

 

[GrimReaper82]