Biden/Harris: A Presidency for All Americans

[Jeff Lebowski]

IMO there is a vast difference between a PPP loan than a student loan. The PPP loans were specifically structured to encourage them to be forgiven. Everyone wnated them to be forgiven. They ensured people stayed employed in a time at hte beginning of the pandemic when the economy was teetering on collapse.

Yeah, the PPP loan thing is a dumb excuse/red herring. #whataboutppp?

This is nothing more than a naked government handout to buy votes. And a kick to the groin for the working class and for the fiscally responsible.

[myboynoah]

Yeah, the PPP loan thing is a dumb excuse/red herring. #whataboutppp?

This is nothing more than a naked government handout to buy votes. And a kick to the groin for the working class and for the fiscally responsible.

It's relevant in that those PPP recipients noted in the Tweet, some in the range of hundreds of thousands of dollars, are the loudest voices against people with a lot less getting $10,000 in loan forgiveness.

Like I said, I'm not a fan. People should pay back their loans. Show current students that the money needs to be paid back someday, and not send the opposite message.

Is it buying votes? Yeah, as are most government handout programs. At least Trump gave us a real check during COVID with a nicely signed note.

[falafel]

That was dumb... I told all my children to take out as many government student loans and apply for as many pell grants (and scholarships) as they could. But as soon as they graduate pay off those loans as soon as possible. (I did exactly that when I was in school. I paid back all my student loans the first month after I graduated, in fact.) If the dumb Dems are going to throw money at you then take that sh*t before someone else does!

That money ain’t free bro.

[Jeff Lebowski]

It's relevant in that those PPP recipients noted in the Tweet, some in the range of hundreds of thousands of dollars, are the loudest voices against people with a lot less getting $10,000 in loan forgiveness.

Like I said, I'm not a fan. People should pay back their loans. Show current students that the money needs to be paid back someday, and not send the opposite message.

Is it buying votes? Yeah, as are most government handout programs. At least Trump gave us a real check during COVID with a nicely signed note.

You need to listen to Mitt and stop rationalizing this.

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[myboynoah]

You need to listen to Mitt and stop rationalizing this.

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[Jeff Lebowski]

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[Northwestcoug]

My privileged white kid will actually benefit from this, just not the 10-20K in loan forgiveness. Apparently there is an interest provision that if you make less than a certain amount but pay 10% of your income to pay back the student loans, interest does not accrue. That will save her potentially 10's of thousands in interest during residency. She was pretty happy about that, enough to vote for Biden. So the bribe worked!

In all seriousness, that provision is a welcome change. Some time ago the government stopped capping interest rates of postgraduate loans at the same rate as undergraduate ones. Med school tuition is increasing out of proportion to income, and 7% interest on nearly 400K in loans builds up fast. Fast enough to alter decisions about which specialty (or any) to pursue. I know her case doesn't garner much sympathy in society, but it'll also help a bunch of other people less advantaged.

[Moliere]

The two issues I see with this is first, it’s regressive. Even Paul Krugman says it’s regressive and I’m not sure of any serious economist that thinks it’s not regressive.

Second, the underlying issues isn’t being fixed. We are bailing out a sinking boat by using a teacup.

college is already affordable. Sure, going out of state or to make private college is not affordable but there are so many other options that are affordable. I’ve been through this twice this year and there are very affordable options to get a good four year degree from a tier 1 university. The main problem is that kids look at college as an experience and not an investment. That’s why people are mad is that kids that made little to no effort to avoid loans and now complain about them are now getting those loans forgiven. I’m sure there are plenty of kids that deserve this, but a lot who don’t.

[Jeff Lebowski]

The two issues I see with this is first, it’s regressive. Even Paul Krugman says it’s regressive and I’m not sure of any serious economist that thinks it’s not regressive.

Second, the underlying issues isn’t being fixed. We are bailing out a sinking boat by using a teacup.

college is already affordable. Sure, going out of state or to make private college is not affordable but there are so many other options that are affordable. I’ve been through this twice this year and there are very affordable options to get a good four year degree from a tier 1 university. The main problem is that kids look at college as an experience and not an investment. That’s why people are mad is that kids that made little to no effort to avoid loans and now complain about them are now getting those loans forgiven. I’m sure there are plenty of kids that deserve this, but a lot who don’t.

It is such a terrible idea. Biden getting blowback within his own party.

https://www.dailymail.co.uk/news/art...cans-500B.html

Democrat's civil war over student loans explodes: Biden is blasted as 'out of touch' and told he is punishing 'those without a degree' by his OWN party - as new projection says it will cost Americans $500 BILLION

• Democrats continue to turn against Biden for his plan to cancel between $10,000-$20,000 in student debt each borrower making less than $125,000
• New Hampshire Rep. Jared Golden called the move 'out of touch'
• Comes as a new estimate claims American taxpayers will pay between $400 - $600 billion over the next decade to pay for the relief
• Taxpayers who didn't take out student loans or have already paid off loans will not benefit from the program, but will still be helping pay for the relief
• Republican lawmakers have heckled the move as unfair to working families
• Some Democrats are hopping on board, and also claiming that the move doesn't do the work to address root causes that make college so expensive

[Paperback Writer]

The two issues I see with this is first, it’s regressive. Even Paul Krugman says it’s regressive and I’m not sure of any serious economist that thinks it’s not regressive.

Second, the underlying issues isn’t being fixed. We are bailing out a sinking boat by using a teacup.

college is already affordable. Sure, going out of state or to make private college is not affordable but there are so many other options that are affordable. I’ve been through this twice this year and there are very afifordable options to get a good four year degree from a tier 1 university. The main problem is that kids look at college as an experience and not an investment. That’s why people are mad is that kids that made little to no effort to avoid loans and now complain about them are now getting those loans forgiven. I’m sure there are plenty of kids that deserve this, but a lot who don’t.

I agree that there are affordable in-state options (in addition to BYU) for a tier 1 university education - if a student can get admitted. As you probably know, it is not easy to get admitted to U. of Texas, Texas A&M, or BYU. So I have empathy for students who attend non-Tier1 schools and have little choice to fund their education with student loans when their family will not or cannot help them financially. I have less empathy for students who take on student loan debt and choose to study areas that are not marketable or low-paying when they have the intelligence to study STEM areas.

Having stated that, I'm not happy about student loan forgiveness since I made the sacrifices to fund all my kids' educations. My view was that I had 18 years to figure out how to fund the newborn's college and saved and sacrificed accordingly. I'm doing the same for my grandchildren to try to alleviate the burden on my kids. I totally agree that higher education is an investment and that factored heavily into what universities my kids attended and what they chose to study. Specifically, my youngest, who will soon be graduating, had a choice between going to college in-state or out-of-state. She really wanted to "escape from Texas" but didn't want to attend BYU. However, out-of-state tuition was twice as much as the in-state option and the out-of-state college was ranked lower in her STEM major. She could have attended the out-of-state school but would have had to take on student loans for the difference between in-state and out-of-state tuition. Now, I learn that much of those student loans would have been canceled.

[Commando]

You need to listen to Mitt and stop rationalizing this.

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LOL are Republicans really going to bring up 'bribing voters?' I like Mitt as a person but he really needs to sit down and STFU right about now.

[Bo Diddley]

LOL are Republicans really going to bring up 'bribing voters?' I like Mitt as a person but he really needs to sit down and STFU right about now.

He right, but it's a pretty convenient partisan jab. Let's not pretend this is unique to Joe Biden or Democrats.

[Commando]

He right, but it's a pretty convenient partisan jab. Let's not pretend this is unique to Joe Biden or Democrats.

To anybody paying attention it's 'sad to see' Mitt post something so laughably convenient. Isn't he supposed to be a beacon of integrity and not a partisan hack? smh

[Moliere]

I agree that there are affordable in-state options (in addition to BYU) for a tier 1 university education - if a student can get admitted. As you probably know, it is not easy to get admitted to U. of Texas, Texas A&M, or BYU. So I have empathy for students who attend non-Tier1 schools and have little choice to fund their education with student loans when their family will not or cannot help them financially. I have less empathy for students who take on student loan debt and choose to study areas that are not marketable or low-paying when they have the intelligence to study STEM areas.

Having stated that, I'm not happy about student loan forgiveness since I made the sacrifices to fund all my kids' educations. My view was that I had 18 years to figure out how to fund the newborn's college and saved and sacrificed accordingly. I'm doing the same for my grandchildren to try to alleviate the burden on my kids. I totally agree that higher education is an investment and that factored heavily into what universities my kids attended and what they chose to study. Specifically, my youngest, who will soon be graduating, had a choice between going to college in-state or out-of-state. She really wanted to "escape from Texas" but didn't want to attend BYU. However, out-of-state tuition was twice as much as the in-state option and the out-of-state college was ranked lower in her STEM major. She could have attended the out-of-state school but would have had to take on student loans for the difference between in-state and out-of-state tuition. Now, I learn that much of those student loans would have been canceled.

UT San Antonio, university of Houston, UT Arlington, UT Dallas and Texas tech are also tier 1 schools. Those schools aren’t necessarily hard to get in to.

Someone that goes to a community college for two years and then transfers to one of those colleges will get the same degree and education. They just won’t have the same experience as a freshman at a party school. But they also likely won’t have any debt.

[Bo Diddley]

To anybody paying attention it's 'sad to see' Mitt post something so laughably convenient. Isn't he supposed to be a beacon of integrity and not a partisan hack? smh

Oh come on. He's a politician. He can't be completely nonpartisan. I think his record and integrity speaks for itself.