Biden has a huge problem here he inherited from Trump. You have tens of millions of people that have not had to pay a dollar on student loans for close to two years. He said (and has now gone back on his word) the last delay was the final delay. That was BS. He said he would forgive $10,000 in student loans. That was BS. Build Back Better would not have done anything for this quagmire. Biden has been sitting on a memo since Feb. that probably says he can cancel student debt himself.
Game theory question: If you did have the executive power to cancel some/all student debt, when would be the ideal time? Obviously you can continue the interest moratorium as long as you want. So if you’re Biden, would you be better off cancelling the 10k/all debt just before the midterms? Would additional votes of those benefiting that otherwise wouldn’t have voted exceed the new votes of those that resent the action?
on one hand liberally available federally backed college loans go hand in hand with astronomical rises in tuition and COL in college towns. on the other, DOE should reduce interest rates and forgive interest over last two years. or nuclear option forgive all loans and get out of the business.
The best time is never because you can use it as a political tool for votes. Vote for us if you want money. I don't think they can continue zero interest forever. These months still count towards months paid for those on forgiveness plans and they were pretty stern about the last delay being the final delay.
If these lazy bums don’t pay back their loans Ban them from owning a cell phone and have internet access
Works for me as long as anyone who has ever declared bankruptcy or defaulted on a debt is treated the same.
This is one thing government is really, really bad at - once you've stopped these payments, there's never going to be a "good time" to restart them. The job market is booming, wages are up, etc - but it's still not a good time. The same was true with the foreclosure pause, extended unemployment benefits, temporary tax cuts in 2008/9, etc. There always just needs to be a gradual re-introduction of normal. Instead of a pause or a restart, just do it slowly. For the next 3 months, people have to pay 25% of their normal payment, but interest remains paused. After that, 3 months 50%. Then 3 months of 75% and interest starts accruing again, and then full normalcy. This would let people adjust their lives/budgets back to normal instead of these "on/off" cliff type situations.
Like any large government benefit or entitlement, once given and established, it’s basically politically untenable to take it away. Dems will suffer mightily for restarting student loan payments after 2+ years of respite and every time they kick the can down the road, such as here, the worse it will be, especially as we get closer to Nov 2022.
Blacklist these kids from Coachella and EDC They’ll start working to pay back the loans And astrow… oops that ain’t happening anymore
In the beginning, only the privleged were literate, which allowed them to control the masses through religion. The invention of the printing press allowed literacy rates go up dramatically, which brought in wealth generation. Soon it was established the wealthy were educated. Cost of education continued to dwindle, to the point where the state could burden basic education. Over the last 100 years, a minimum bar of education, provided by the state, was needed to perform moderate labor, leaving advanced education to the wealthy. The state recognized the need for more wide spread advanced education and agreed to burden the risk (through unforgivable debt ... aka debt slavery) . Anyone, regardless of aptitude, could take on this form of debt in exchange for an advance education. Over the last 50 years, the education system has fully taken advantage of this money making opportunity and has enslaved millions of people to this debt slavery. The advent of the internet, and now lock downs, has lead people to finally accept the reality. Its time to unwind this unhealthy mega business model of debt slavery. Why are young adults paying 10's of thousands of dollars for zoom classes when there are many forms of free education that provide the same information, if not better. So either the state pays for all advanced education (and lets be honest, most public schools are lacking) or we find a new way to certify people smart. We have established for a couple decades now the current model is seriously damaged.
Reforming the entire education higher system would be the biggest legislative action in my lifetime. I've never seen anything anywhere near as consequential reformed before. I think it's second only to a shift to a single payer healthcare system in terms of scale of shift. I'll believe it when I see it. Forgiving student loans by itself (which is all that the President can accomplish (maybe)) doesn't make much sense anyway. The debt just starts accruing again the next semester. Changing the system will take more then just old sleepy joes pens stroke and there's essentially no hope that happens in this climate or any climate we've been in the last 20 years or will be in the next 20 years.
You are all over the place. What's your point should he cancel all of the debt or not what is your position?
I think we are talking about different generations. Fortnite is middle and high schoolers I thought. Not college graduates. You know the Travis Scott type.
Then it doesn’t apply to you if you paid back your loans Also they should block call of duty war zone and madden
