07-03-2023, 11:12 AM
(07-03-2023, 10:15 AM)KillerGoose Wrote: I think we have a misunderstanding of what is going on. Biden isn't forgiving loans (yet, I think he is still trying). The link that I posted is some modifications to how those loans are paid back in order to make it easier on borrowers. Here is the information...
So, it is an income-driven-repayment plan. Basically, there is a threshold where if you make too little money, your payments are "paused". For those who can make payments, the minimum amount to pay has been reduced. The forgiveness window has been reduced from 20 years to 10 years (this window already existed, mind you - this type of "forgiveness" has been happening for as long as I can remember. Biden just reduced the time period).
That is why I believe that this should be a pretty popular reform. It is addressing some of the underlying issues instead of a forgiveness plan. I do think this is part of the answer, long-term.
Well I hope you are correct. Seems like some of the points could help.
I am simply against relieving people of debt, at others expense (in this case the taxpayers) that they voluntarily took out.
I have been through some very hard times financially a couple decades ago of my own making and I never once asked or expected anyone to help. I dug myself out and have not made the same mistakes again.
Maybe I am looking at this wrong, but I feel like getting a very expensive degree is like buying too much of a car or house. You have to live within your means. As far as I am aware there are affordable college options. Community College, trade schools, military. I do understand that a college degree shouldn't be prohibitively expensive and steps should be taken to help with that, like starting with some of the colleges worth billions. What are they going to do to make college more affordable?
People bought houses when home prices were very high and then the bubble burst and they were in trouble. That's on them. Taxpayers shouldn't bail them out. I feel the same way about student loans. Moving forward, yes, let's try to come up with some solutions, but tax payers should not be paying anyone's personal debt.
I have a friend who still owes 20k+ for a social services degree from about 10 years ago. They are not even working in that field and when they did they weren't making that much. I went into the military for 4 years, have never had any educational debt and I make very good money imo for having no college degree, especially for my location. My point is that you don't have to rack up huge college debt to have a decent job.
I am not very articulate with typing back and forth and do much better with face to face flowing discussion/debate. I definitely don't disagree with you that there should be some reform so people have better/cheaper access to college.
