Billionaire's Foundation Court Win Eliminates My Student Loan Forgiveness

[NATI BENGALS]

Big shout out to the billionaire asshole Bernie Marcus and the Job Creators Network Foundation he started which was successful in finding a Trump appointed judge to strike down student loan forgiveness.

Nothing like a billionaire's foundation going to court to make sure a working class smuck like me doesn't get a $7k break.

Thanks you giant piece of s***

https://www.cnn.com/2022/11/10/politics/biden-student-loan-forgiveness-struck-down/index.html

[GMDino]

(11-11-2022, 12:34 AM)NATI BENGALS Wrote: Big shout out to the billionaire asshole Bernie Marcus and the Job Creators Network Foundation he started which was successful in finding a Trump appointed judge to strike down student loan forgiveness.

Nothing like a billionaire's foundation going to court to make sure a working class smuck like me doesn't get a $7k break.

Thanks you giant piece of s***

https://www.cnn.com/2022/11/10/politics/biden-student-loan-forgiveness-struck-down/index.html

Well they're worried about inflation, something something, others paid theirs, something not fair, something...

Just remember the gop is the party REALLY for the working class.  Really.  

[Dill]

(11-11-2022, 12:34 AM)NATI BENGALS Wrote: Big shout out to the billionaire asshole Bernie Marcus and the Job Creators Network Foundation he started which was successful in finding a Trump appointed judge to strike down student loan forgiveness.

Nothing like a billionaire's foundation going to court to make sure a working class smuck like me doesn't get a $7k break.

Thanks you giant piece of s***

https://www.cnn.com/2022/11/10/politics/biden-student-loan-forgiveness-struck-down/index.html

Now Nati, think how badly people like me would feel if YOU didn't have to pay back the big banks like the rest of us.

That would be so unfair if I had to increase their profits to pay off my daughter's loan but you
forced them to eat the loss. 

You are as fair a target for debt peonage as anyone else.

[Leon]

the oppisition to the student loan relief is one of the areas where i think my party made a huge mistake. they should of been all in on that an been out there pounding there chests about giving folks help in there pocket books. these are the kind of things you can absolutely win on and campaign on. republicans have to start being smart about taking every win they can get instead of shooting them in the foot when there aint no need to. frustrating to watch that play out when it couldve been a big talking point in our favor.

[*michaelsean*]

The student loan forgiveness is ridiculous. They pick a group of people in one time and give them a break. Not the people who just paid off their loans. Not the people who paid along the way. Not the people who will be taking out loans in the future. And if you got free money from the government, you get double. What? If you want to help, you have to come up with something better than this nonsense. This was literally buying votes. And I did put my money where my mouth is and did not sign up to see if I were eligible with my Parent Plus Loan.

[Goalpost]

I'd rather the money go to older people who worked their whole life, left early due to the virus, and now have a less certain nest egg due to the market losses and inflation. Of course there would be a limit depending on where your savings are. But older people can't make this up, whereas a younger person has their whole life and more time to financially right themselves. I'm fortunate I can stay retired, but for others not so. That virus caused a once in a century thing to that age group.

[*Nately120*]

(11-14-2022, 07:12 PM)Goalpost Wrote: I'd rather the money go to older people who worked their whole life, left early due to the virus, and now have a less certain nest egg due to the market losses and inflation.  Of course there would be a limit depending on where your savings are.  But older people can't make this up, whereas a younger person has their whole life and more time to financially right themselves.  I'm fortunate I can stay retired, but for others not so.  That virus caused a once in a century thing to that age group.

Why should young people with no college debt pay for old people who didn't save enough money their entire old lives to retire?

If we get out of the "Why should group A get something group B does not?" mindset, I figured the student loan forgiveness thing was to buy votes as well as combat the reality that a lot of people who went to college and accrued student loan debt aren't buying enough stuff because they're spending decades of their lives in debt.

I'll pay off my student loan debt, that's my cross to bear but I've never bought a new car or motorcycle, I didn't buy a diamond ring when I got engaged (either time...ahem), the wife and I didn't have an actual wedding, I've never gone on an actual vacation or cruise in my 23 years of adulthood, I don't go to sporting events, I've been motivated to stay in shape because I bought dress clothes and suits when I was 22 and I still fit into them on the rare occasions I need to, and I stay in shape by working out at home instead of joining a gym and spending a bunch of gas money to get to and from it, I'm almost 41 and I might be able to start investing money in the stock market when I'm in my 50's or maybe never at all.

I'm not asking for pity, hey it's the life I've chosen.  All I'm saying is that people like me aren't keeping this consumer-driven market alive.  Student loan debt is preventing a lot of people from injecting money into the free market outside of student loan debt collectors and banks.    

[guyofthetiger]

As a person who paid off my student loans, I got a good job and worked for years. People should budget to pay back loans or just go ahead and file bankruptcy.

[HarleyDog]

(11-14-2022, 09:20 PM)guyofthetiger Wrote: As a person who paid off my student loans, I got a good job and worked for years. People should budget to pay back loans or just go ahead and file bankruptcy.

Can’t file bankruptcy against a student loan, it’s guaranteed.

[CKwi88]

(11-14-2022, 07:58 PM)Nately120 Wrote:  Student loan debt is preventing a lot of people from injecting money into the free market outside of student loan debt collectors and banks.    

And this is what really gets me. The same people up in arms about student loan forgiveness didn't bat an eye when the TCJA erased hundreds of billions of dollars in corporate tax revenue per year.

So handouts for corporations so they can give million dollar raises to executives and do stock buybacks are no biggie, but erase 10k of someone's debt so they could put a down-payment on a home, start a small business, or hell, just put that monthly payment towards anything but a debt collector? Catastrophic.

[*michaelsean*]

(11-15-2022, 02:27 AM)CKwi88 Wrote: And this is what really gets me. The same people up in arms about student loan forgiveness didn't bat an eye when the TCJA erased hundreds of billions of dollars in corporate tax revenue per year.

So handouts for corporations so they can give million dollar raises to executives and do stock buybacks are no biggie, but erase 10k of someone's debt so they could put a down-payment on a home, start a small business, or hell, just put that monthly payment towards anything but a debt collector? Catastrophic.

You can agree or disagree with tax cuts, but they aren’t handouts. That makes two assumptions. One is that all income is the government’s, and they decide what they will let you keep and two that whatever tax rate you moved from was the “correct” tax rate and any move from that is a gift.

[GMDino]

(11-15-2022, 08:43 AM)michaelsean Wrote: You can agree or disagree with tax cuts, but they aren’t handouts. That makes two assumptions. One is that all income is the government’s, and they decide what they will let you keep and two that whatever tax rate you moved from was the “correct” tax rate and any move from that is a gift.

I think the bigger issue is that no one is going over the root causes of these debts.  Bank and school greed.  The entire program needs fixed.

But I still think the forgiveness helps those who need it.  I just wish it was part of a larger solution moving forward.

[*michaelsean*]

(11-15-2022, 02:48 PM)GMDino Wrote: I think the bigger issue is that no one is going over the root causes of these debts.  Bank and school greed.  The entire program needs fixed.

But I still think the forgiveness helps those who need it.  I just wish it was part of a larger solution moving forward.

Certainly it helps those who are getting help, but like you alluded to, it really doesn't do anything to address the problem.  It's a snapshot in time, and it was a vote buy.  No offense.  It's a common practice.  

Some of these universities are sitting on billions in endowments.  Some tens of billions.  Maybe set a max for how much you can get in a year.  And of course the housing costs.  That's just theft.  

[Au165]

I am more concerned at how these folks keep claiming they have standing when it's dubious at best. If these people can successfully claim to have standing the amount of lawsuits for every federal action people don't like could get wild.

[GMDino]

(11-15-2022, 03:37 PM)michaelsean Wrote: Certainly it helps those who are getting help, but like you alluded to, it really doesn't do anything to address the problem.  It's a snapshot in time, and it was a vote buy.  No offense.  It's a common practice.  

Some of these universities are sitting on billions in endowments.  Some tens of billions.  Maybe set a max for how much you can get in a year.  And of course the housing costs.  That's just theft.  

I don't disagree with anything you said really.  It's all about unchecked greed.

I just am happy for the people who can helped by it. Even if it's a one time thing.

[*Nately120*]

(11-15-2022, 03:37 PM)michaelsean Wrote: Certainly it helps those who are getting help, but like you alluded to, it really doesn't do anything to address the problem.  It's a snapshot in time, and it was a vote buy.  No offense.  It's a common practice.  

Some of these universities are sitting on billions in endowments.  Some tens of billions.  Maybe set a max for how much you can get in a year.  And of course the housing costs.  That's just theft.  

If it's a vote buy, which it is, doesn't striking it down after it helped stop a red wave merely ensure that it will become a rallying point used as a vote buy for elections to come in a manner similar to Roe Vs Wade was for the republican party?

Or is this the "It's stuck down forever" sort of ruling?  I don't actually know.

[Dill]

(11-15-2022, 02:48 PM)GMDino Wrote: I think the bigger issue is that no one is going over the root causes of these debts.  Bank and school greed.  The entire program needs fixed.

But I still think the forgiveness helps those who need it.  I just wish it was part of a larger solution moving forward.

The program began as a way to help poor students (esp. minorities and women) afford college. 

Tuition keeps on rising as state legislatures cut funding for state schools. (Not the only, but the primary driver.)

Fox news never fails to mention Harvard's multi-billion endowment, like that's
typical of the state schools the bulk of students attend. Thousands apply to Harvard
every year, but less than 4% are accepted; it has under 7,000 undergraduates.  
https://en.wikipedia.org/wiki/Ivy_League#Admissions

There are 14.7 million students in state schools this year, as opposed to 5.26 million in private colleges,
which include the questionable for-profits like Phoenix (65,000 undergrads) and Strayer (50,000) whose
default rates match their dropout rate.

But there are less that 60,000 students all Ivy league "high endowment" schools combined--less than the 
total number of U of Phoenix undergrads. The other Elite research schools,
like Stanford, Johns Hopkins, and the University of Chicago don't expand that number by much.

During the 60s states and gov. paid the tuition difference in pubic institutions that students must now make up with loans.
So in a sense the gov. was paying either way. 

The history that needs to be laid before the public is how this non-profit system, a public good, 
was tweaked since the '90s, to create a profitable system of debt peonage* 
which many students can only settle by dying.

*Not for the gov, which is losing money on student loans it insures.

[Au165]

Could we all just agree on 0% interest on the loans? I have always felt like that was the answer all along for both past and future. We drop all interest of those with current loans and we work to make all loans 0% interest, although penalties for late payment and such still exist.

This both provides relief to those in the past while addressing the issue in the future.

[GMDino]

(11-15-2022, 08:30 PM)Au165 Wrote: Could we all just agree on 0% interest on the loans? I have always felt like that was the answer all along for both past and future. We drop all interest of those with current loans and we work to make all loans 0% interest, although penalties for late payment and such still exist.

This both provides relief to those in the past while addressing the issue in the future.

That would be fine.  

The one problem I see with it is it would encourage even MORE people to try and go to college who really should not.  College is not for everyone.  I know too many people who went because "they had to" and realized too late and were stuck with the debt.

I know that still falls on personal choice, and I do want anyone who WANTS to go to college to have the best possible chance to actually do that, I just worry about it.  But I'm a worrier...lol.

[Housh]

For the life of me i cannot understand the “screw everyone else, because i paid off my loans” mindset. It’s childish and is yet another way to help the economy that conservatives are against.



You can’t post everyday how the economy is trash But then 1 second later shoot down every single idea that helps the economy. It’s like at that point you are really worried about a solution.


Added comedy is that these same conservatives have no energy for when the government gives corporations tax breaks and free money. From someone who doesn’t ID as a Democrat or a Republican it just comes off as extremely sheep-like. Those conservative politicians could convince you guys to jump off a bridge if they could somehow convince you that you are better than other ppl by doing it. To me being against programs like this is all ego. They convince y’all that you are better than other ppl because you didn’t need the forgiveness or you already handled your debts. You aren’t better than anyone else because you didn’t need the forgiveness. You not needing the help is a blessing and some of you forget that.


I said this before and ill say it again…..The government is SUPPOSED to help you. I think conservatives forget that a lot, so they can get their rocks off by shaming ppl who need to use help programs.

Just cannot accept letting a large part of the country suffer because some ppl are mad that they can’t get the help. To me that’s lame as shit and damn near UnAmerican.


With that logic no one should be let out of jail because EVERYONE didn’t get their time reduced. When you apply this dumbass logic to any other situation it sounds stupid.

“No one should get a holding penalty because one time i got held and they didn’t call it.”

“No one should get Chemotherapy because my mom died from cancer”

“No one should get Medicaid because my jobs insurance won’t cover my operation”

“Women shouldn’t have the right to vote because my great grandma couldn’t vote”

“No one should be prescribed a wheelchair because i had to walk on my bum knee for 10 years.”

“No one deserves a big booty Brazilian babe because i can’t get one.”

The whole argument is just stupid AF to me. I’m very open to hearing opinions on this but If your opinion revolves around the idea that “I’m mad because i missed out” i don’t even wanna hear it.




With all that rant out the way

I would 100% be for reimbursement for ppl who already paid off their loans. I am also very surprised that the ppl against loan forgiveness don’t have the foresight to realize that supporting forgiveness would likely open the door to a conversation about reimbursement so in reality even those ppl should be for loan forgiveness because it opens the door to more conversations on the topic.