Biden is about to commit an impeachable offense

GromsDad

Duke status
Jan 21, 2014
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West of the Atlantic. East of the ICW.
Democrats don't care about joe sixpack that didn't go to college and busts his ass every day to pay the bills in the land of the Bidenflation explosion. A gift to buy votes using money confiscated from the majority of Americans who work. Not to mention that this will only drive inflation higher........including inflation of college tuition.
 

StuAzole

Duke status
Jan 22, 2016
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Sounds like much of America has its priorities screwed up. I'm far from being a "coastal elite". Do you think I wouldn't have MORE fun with that money by doing a couple of surf trips with it? I'm sure my son would love to surf Cloudbreak, Tahiti or the Maldives instead of his sister not having student loans.
We know you’re afraid to travel to anyplace that doesn’t have a Carl’s Jr.
 

hal9000

Duke status
Jan 30, 2016
55,652
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Urbana, Illinois
Democrats don't care about joe sixpack that didn't go to college and busts his ass every day to pay the bills in the land of the Bidenflation explosion. A gift to buy votes using money confiscated from the majority of Americans who work. Not to mention that this will only drive inflation higher........including inflation of college tuition.
Always with the mindreading fallacy.
 

StuAzole

Duke status
Jan 22, 2016
28,244
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Forgiving student loan debt will encourage college to remain less affordable for many.

The university system will continue to be able to gouge students.

And do I need to mention the inflation aspect?

This is pretty much an attempt to buy votes at the expense of the country.
Yes, please mention the inflation aspect of forgiving a small portion of a loan paid over 30 years.
 
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casa_mugrienta

Duke status
Apr 13, 2008
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Yes, please mention the inflation aspect of forgiving a small portion of a loan paid over 30 years.
From your previous posts here you do not understand how money works or our how Federal Reserve + Treasury works and you're not interested in learning.

I suppose you think COVID student loan forbearance (still in effect) hasn't increased inflation either. LOL.
 
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StuAzole

Duke status
Jan 22, 2016
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From your previous posts here you do not understand how money works or our how Federal Reserve + Treasury works and you're not interested in learning.

I suppose you think COVID student loan forbearance (still in effect) hasn't increased inflation either. LOL.
Forbearance actually would contribute to immediately available cash, so yes, it’s inflationary. A $10k principle reduction on a 30 year loan is largely immaterial from an inflationary standpoint.

I would expect a nurse to understand this.
 

hal9000

Duke status
Jan 30, 2016
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Urbana, Illinois
Forbearance actually would contribute to immediately available cash, so yes, it’s inflationary. A $10k principle reduction on a 30 year loan is largely immaterial from an inflationary standpoint.

I would expect a nurse to understand this.
seriously..... a $10,000 discount on $100,000 worth of loans. this will have negligible effect on the overall economy.
 

casa_mugrienta

Duke status
Apr 13, 2008
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Forbearance actually would contribute to immediately available cash, so yes, it’s inflationary. A $10k principle reduction on a 30 year loan is largely immaterial from an inflationary standpoint.
LOL

Average student loan payment is something like $350/month last I read a few years back. (Edit: just googled - it's running around $250/month. )

Heard a news blip saying 1 in 3 borrowers would have their debt completely wiped away by Biden's plan. Whether that's $350/month or $100/month that's a bunch of money into the system that wouldn't normally be there. Same goes with the other 2/3 of borrowers. Yes, it will be inflationary - by how much there's no real way of knowing.

The interesting thing here is we're being told this is peanuts in terms of inflation... while at the same time being told how student loan debt is so high that it's ruining 'Mericans who went to college. Preventing them from owning homes, etc.

So either this is an essential giveaway with purpose (meaning we're pumping a significant amount of money into the system)... Or the loans really are peanuts and this will just be a bread and circuses giveaway (not inflationary, just fun!)

I would expect a nurse to understand this.
Understand your lawyer spin?

Yes, absolutely.

The interesting thing is most of these loans are taxpayer funded by via T bonds.

And that "cancelled debt" will still have to be repaid by the taxpayer.

Which means all those people who couldn't afford to go to college will now be paying back the loans of those who "learned 2 code".

:computer: :)
 

grapedrink

Duke status
May 21, 2011
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A Beach
$100k worth of loans... lol.

Talk about hyperbolic bullshit.

Zero integrity.
Not uncommon to be well over that for an mba, law or med school. Or even for undergrad if you went to a private school or out of state (which I agree you have no business doing if you can’t afford it btw).

I heard something similar to what you typed above that something like 40% are under $10k. A good portion of them never finished school. 40% of student debtors buys you a lot of votes.
 
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hal9000

Duke status
Jan 30, 2016
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$100k worth of loans... lol.

Talk about hyperbolic bullshit.

Zero integrity.
yes, I admit I was being hyperbolic but there are about 8 million Americans with >= $50,000 in student loan debt.

my daughter's best friend's mom is a recently divorced podiatrist and can't get a home loan because of her med school debt.
 

sussle

Rabbitt Bartholomew status
Oct 11, 2009
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if there is anyone whining about this - Squidley, gromsdad et al - go fvck yourself. remember, $400 billion worth of the 4 million PPP loans were forgiven last year. handouts went to the biggest companies - GM, McDonalds, et al - and about 1 million of those loans went to companies with just one employee. why shouldn't student loans be forgiven as well?

Kids who go to college as it exists today are mostly suckers (as are the people paying for it)

There's a subset of highly valuable colleges, degrees, networking opportunities but most of what is paid for is waste (unless you love paying for that experience to live on your own in a campus environment)

The debt and loan side is driven by colleges acting as poorly run for profit enterprises, crutched by the easy access of debt by students - encouraged by the government and a society who is slow to push for changes in our education system.
this - college has become a scam, college financing is a racket, and the idea that an 18 y/o should take on a 5-6 figure debt load at age 18 is ludicrous and should never have been normalized.

What a bunch of suckers we are helping pay for our daughter's college so she doesn't have to take out loans.
lol, don't be so hard on yourself - you were suckers long before that. you joined the LeopardsAteMyFace Party a long time ago and now you're whining coz leopards ate your face. dumbass.