Student loan repayment pause about to un-pause

[Thumping]

once that cat is out of the bag it cant go back in. his handlers no that, and thats why this is happening. they literally have no bad consequences for the administration from this. He looked everyone straight in the eye after getting beat by the court and just continued to do it anyway. and no one can do shit about it.

So this administration can simply ignore a Supreme Court ruling but a simply county judge makes a ruling involving Trump and it's plastered everywhere days on end. 🤔

 

[Texas97]

So this administration can simply ignore a Supreme Court ruling but a simply county judge makes a ruling involving Trump and it's plastered everywhere days on end. 🤔

I'm not saying it's right, there's literally no way to stop the Biden administration from doing this. You can't put that genie back in the bottle. It's done

 

[aczlan]

So this administration can simply ignore a Supreme Court ruling but a simply county judge makes a ruling involving Trump and it's plastered everywhere days on end. 🤔

Nope, as Kyle said, this is just him pushing bureaucrats to do their job under existing programs:

I believe this round of forgiveness was clearing the backlog of people who worked in the programs that promised forgiveness after a certain timeframe. Trump tried to clear it but Covid shut down all that. Biden didn’t do anything but force the gov to do their jobs under the guise of “doing something about it”…

Aaron Z

 

[clodhopper]

I'm not saying it's right, there's literally no way to stop the Biden administration from doing this. You can't put that genie back in the bottle. It's done

But we can discourage from happening again.

 

[IEATRKS84]

Buying votes with your hard earned money ... what a scumbag

lets be real. Its not real money. Just like Ukraine and Isreal funding, its fake money from a computer, 1's and 0's.

They can wash it away and make it rain with the stroke of a pen. None of it is coming out of some bank account somewhere.

 

[OHV Wildcat]

lets be real. Its not real money. Just like Ukraine and Isreal funding, its fake money from a computer, 1's and 0's.

They can wash it away and make it rain with the stroke of a pen. None of it is coming out of some bank account somewhere.

This is direct inflation. It absolutely comes out of your wallet. Say you’re a shareholder of a company and own .01% of their stock. They get into a liquidity crunch because of whatever reason, and they issue new shares to raise capital. That gets bought up, and suddenly your .01% ownership is .008% ownership. You’ve absolutely lost money through no fault of your own. Similar things happen to the owner of any currency when more currency is issued. Except in the case of the currency, new shares are printed and only offered to the politically connected first. It’s the reason we’ve been able to stay at war for 110 years.

I’d highly recommend either Murray Rothbard’s The Mystery of Banking or Saifedean Ammous’s The Fiat Standard.

 

[Texas97]

This is direct inflation. It absolutely comes out of your wallet. Say you’re a shareholder of a company and own .01% of their stock. They get into a liquidity crunch because of whatever reason, and they issue new shares to raise capital. That gets bought up, and suddenly your .01% ownership is .008% ownership. You’ve absolutely lost money through no fault of your own. Similar things happen to the owner of any currency when more currency is issued. Except in the case of the currency, new shares are printed and only offered to the politically connected first. It’s the reason we’ve been able to stay at war for 110 years.

I’d highly recommend either Murray Rothbard’s The Mystery of Banking or Saifedean Ammous’s The Fiat Standard.

i would agree. its "real" money because its like government giving everyone a check to put in their bank account.

NOW..... an argument can be made that we are so far in debt and the government spends so much beyond its means, what REAL affect would $1.2 billion have on the economy? i would argue its cumulative and contributes to inflation coupled with so many of the unfunded liabilities we are just printing money for.

 

[Outahand]

So this administration can simply ignore a Supreme Court ruling but a simply county judge makes a ruling involving Trump and it's plastered everywhere days on end. 🤔

So this administration can simply ignore a Supreme Court ruling but a simply county judge makes a ruling involving Trump and it's plastered everywhere days on end. 🤔

Pretty much. In a nutshell.

 

[JR4X]

How the hell could you borrow under 12k in 2014 and still be paying it now?!

That's ~$100 a month. Maybe $125-150 with interest.

The kind of people who would take a student loan to get an art degree. Now they’re making coffees for Starbucks or something else barely surviving. So they pay the interest only since that’s an option.

 

[Ebs]

"With today’s announcement, we are once again sending a clear message to borrowers who had low balances: if you’ve been paying for a decade, you’ve done your part, and you deserve relief,” U.S. Secretary of Education Miguel Cardona said in a statement.

Doing 'your part' is upholding your end of the agreement you agreed to.

 

[[486]]

i would agree. its "real" money because its like government giving everyone a check to put in their bank account.

NOW..... an argument can be made that we are so far in debt and the government spends so much beyond its means, what REAL affect would $1.2 billion have on the economy? i would argue its cumulative and contributes to inflation coupled with so many of the unfunded liabilities we are just printing money for.

are you earnestly using the hillary clinton 'at this point what does it matter' argument?

 

[[486]]

Doing 'your part' is upholding your end of the agreement you agreed to.

pretty much 'contractual obligations are null' alongside 'private property rights are too' with the justification given as 'because we can and you can't do shit, we have a majority of useless eaters on our side'

because it is easier than trying to come up with excuses that make sense

 

[YJBrian]

Doing 'your part' is upholding your end of the agreement you agreed to.

Didn't dig deep into this one - If this is loan forgiveness under a previously existing program, the borrowers are eligible, upheld their end by making payments on time with no COVID pause BS, than I have no problem with this. The Government should also be held to uphold their end of an agreement, which includes loan forgiveness under the various programs they have already established and people have taken advantage of. There is no issue with the Biden administration greasing the wheels of the .GOV to uphold the .GOV side of the deal. Both sides should be held accountable.

If there is disagreement if there should be any loan forgiveness under any circumstances, that argument can be made but with Congress, not Biden. I'm no fan of the guy and and taking credit for / blaming MAGA republicans loan forgiveness is for the great unwashed masses that will eat this shit up without thinking. He's either a hero or villain, depending on which side of the aisle you sit on, when he should just get a shoulder shrug for doing his damn job.

 

[Void_of_Light]

How about instead of forgiving student loans, we get to take the money stolen from us in taxes each year, and get to put 100% of it towards student loans for ourselves or someone else?

Cut out the middleman. Incentivize chasing a career path with earning potential, Maybe even get the ones with loans to be nicer to their relatives.

The only downside is it would probably cause tuition to skyrocket more than it already has.

 

[Texas97]

are you earnestly using the hillary clinton 'at this point what does it matter' argument?

not really.

im using the economy of scale lens to put into perspective the amount of money we are talking about here. the US gov spends $6 million dollars a minute, every minute.

so $1.2 billion is what the US gov spends in a little over 3 hours.

im saying that data point, on its own, doesnt really move the needle. when you add it with all the other data points, it does. and its why the government is spending 6 million dollars a minute.

 

[[486]]

The only downside is it would probably cause tuition to skyrocket more than it already has.

why would it do that?
I don't see the path from open market competition to monopolization without following a very similar path to what we've been on

taking a step back and away from the corporatist hellscape can easily be seen as a step forward, even though the commies are screaming that it is 'backwards'

 

[[486]]

im saying that data point, on its own, doesnt really move the needle. when you add it with all the other data points, it does. and its why the government is spending 6 million dollars a minute.

incrementalism got us where we are, and the 'tism makes it really easy to get stuck on small inconsequential steps that are made artificially loud

 

[Void_of_Light]

why would it do that?
I don't see the path from open market competition to monopolization without following a very similar path to what we've been on

taking a step back and away from the corporatist hellscape can easily be seen as a step forward, even though the commies are screaming that it is 'backwards'

Because colleges are greedy, and if there is a new influx of available money, they will naturally adapt by charging more.

 

[[486]]

Because colleges are greedy, and if there is a new influx of available money, they will naturally adapt by charging more.

 

[D_JEEPER]

I put over $1k on mine this month. I am so close to paying them off I can taste it. Been hitting it hard over the past year to get the principle down before the interest came back because I knew that the "savior" was not going to be able to do what he was promising. (I really don't agree with that anyways).
$5k left!

 

[Outahand]

The kind of people who would take a student loan to get an art degree. Now they’re making coffees for Starbucks or something else barely surviving. So they pay the interest only since that’s an option.

Not to mention half the money was spent on travel to and partying at a spring break destination to get the college experience.........

 

[clodhopper]

not really.

im using the economy of scale lens to put into perspective the amount of money we are talking about here. the US gov spends $6 million dollars a minute, every minute.

so $1.2 billion is what the US gov spends in a little over 3 hours.

im saying that data point, on its own, doesnt really move the needle. when you add it with all the other data points, it does. and its why the government is spending 6 million dollars a minute.

The data point is just one, but there are a million other data points just like it. Isnt much different that just stroking a check to every american, universal basic income. meh, it is all printed anyway. Lets just cut the middleman (capitalist pig employers) and just pay people directly. Simpler.

 

[[486]]

The data point is just one, but there are a million other data points just like it. Isnt much different that just stroking a check to every american, universal basic income. meh, it is all printed anyway. Lets just cut the middleman (capitalist pig employers) and just pay people directly. Simpler.

Yes, by reducing choice of employer down to one single option this monopolization will result in greater individual choice and pay.

 

[SanDiegoCJ]

 

[Ebs]

Headline this week:

Biden Administration Transfers Nearly $6 Billion in Student Debt Held by Public-Service Employees to Taxpayers

"Since becoming president, Biden has forgiven over $130 billion in student-loan debt."

Link: MSN

 

[Roc Doc]

Headline this week:

Biden Administration Transfers Nearly $6 Billion in Student Debt Held by Public-Service Employees to Taxpayers

"Since becoming president, Biden has forgiven over $130 billion in student-loan debt."

Link: MSN

Again. Using taxpayer money to forgive debt for those whose paycheck comes from the taxpayer.

"Public-service" employees, they make it sound like they're doing their jobs, (or not), out of the goodness of their heart. It's a fucking job, and presumably you applied for it.

 

[grumpy356]

Again. Using taxpayer money to forgive debt for those whose paycheck comes from the taxpayer.

"Public-service" employees, they make it sound like they're doing their jobs, (or not), out of the goodness of their heart. It's a fucking job, and presumably you applied for it.

That’s what I hate about cops.
You MUST RESPECT COPS.
That’s just some mother fucker who applied for a job & they’re getting paid to do it. You get some common courtesy…. That’s the best I can muster.

 

[Clemson13]

It doesn't seem like everyone started paying their loans back . I foresee a few million people are fucking their finances spectacularly.

Student loan update: Millions of borrowers aren't paying

Finance expert Michael Ryan told Newsweek that "the cost of living has skyrocketed, but wages haven't kept pace. Many borrowers are barely treading water."

www.newsweek.com

 

[east_beast]

It doesn't seem like everyone started paying their loans back . I foresee a few million people are fucking their finances spectacularly.

Student loan update: Millions of borrowers aren't paying

Finance expert Michael Ryan told Newsweek that "the cost of living has skyrocketed, but wages haven't kept pace. Many borrowers are barely treading water."

www.newsweek.com

If I'm reading that correctly, basically half of student loans borrowers didn't start remaking payments and are actively tanking their credit scores? I mean, that should be a massive story.

 

[[486]]

If I'm reading that correctly, basically half of student loans borrowers didn't start remaking payments and are actively tanking their credit scores? I mean, that should be a massive story.

anything that makes current economic situation look bad cannot be broadcast

Fake it until you.... (fuck, man)