Posted on 08/27/2022 4:49:32 AM PDT by Macky Cracklins
How about a little bubbleup for the parents who “worked hard” and saved to pay their children’s college. ?????
Quotations, barry sorento ‘z own, “smart” people tooo.
This is of course a complete fraud. The president has no authority to absolve debt.
The foundation of the decision provides forgiveness to the profligate and punishes those who have acted responsibly. It is more coddling of the derelict, encouraging a society that celebrates incompetence.
Why should Biden NOT reward dereliction? He is to be clear the very model of incompetence.
There is some vague wording in a 2003 bill that says department of education can forgive debt during an emergency. I guess they are still using coronavirus as reason. The gift that keeps on giving.
Where is Joe coming up with the cash to do this payoff? Is that coming from the excess in the “10% to the big guy” fund? In the American form of government I am familiar with, Congress has to pass a bill for any spending authority.
Right on. 1.) Nowhere in the Constitution is there a provision for anything like forgiving debts. 2.) The debt is not “forgiven” rather, it’s transferred to others such as the following: those who paid off their debt, those who never went to college, those who busted their asses to put their kids through college debt-free (like my wife and me), and those who operate a small business and incur a debt to acquire a new piece of equipment. In other words, THOSE WHO HAVE LIVED AND ACTED RESPONSIBLY. 3.) The government (as usual) have created this problem by making money available to prospective students. Colleges see this and merely raise tuition. Compare the average or median college tuition over the last several decades to the rate of inflation over the same time period. As bad as inflation has been (it’s much, much worse during the last year and a half obviously), the rate of tuition increases is HUGE.
Providing debt forgiveness for those who have no financial discipline while at the same time punishing those who are financially responsible or punishing blue collar workers to pay for elites is perfectly in keeping with leftist ideology. It it totally consistent with rewarding illegal aliens while throwing up roadblocks to legal immigrants.
The philosophy of the Left is to punish the innocent and protect the guilty. This is what is known as “equity”.
No debt forgiveness for parents. They do , however, get their very own, personalized, irs agent.
“Congrats to everyone who didn’t have college debt. Now you do. You’re paying for those too lazy to. IT’S NOT DEBT FORGIVENESS, IT’S DEBT TRANSFERRED.”
Where’s the “like” button on this site.
It’s worse than that, however, it rewards poor decision making. Who in their right mind would think that it would be no problemo to oay back a 100k loan with a degree in Theatre Arts?
I never believed it was the parents responsibility to fund college for their kids.
We loaned money to ours and expected and received payback. They are adults and should be expected to make adult decisions and adult commitments.
This loan forgiveness crap is telling students that they are just children and not responsible for their decisions
Exactly!! My niece got degree in marine biology with no intention of ever moving from her hometown or aggressively pursuing work in the field (most marine biology jobs low paying OR require higher degrees anyway). So she’s now working on her second degree -27yo
I heard several democrats saying Biden doesn’t need cash. He
can just throw this into the ever-growing deficit and everything will be fine.
Having a huge bar tab just shows how powerful of a drunk you are.
Like many folks, I worked two jobs to pay for my 4-year degree. Very irritated to say the least.
You saw how they handled covid relief funds..right?
It will not stop until the Liberals hemorrhage all our money and croak the economy
It only gets ‘better’:
BREAKING: Penn-Wharton pegs Biden’s Academia bailout potential cost at $1 trillion
https://hotair.com/ed-morrissey/2022/08/26/breaking-penn-wharton-pegs-bidens-academia-bailout-potential-cost-at-1-trillion-n492546
President Biden’s new student loan forgiveness plan includes three major components. We estimate that debt cancellation alone will cost up to $519 billion, with about 75% of the benefit accruing to households making $88,000 or less. Loan forbearance will cost another $16 billion. The new income-driven repayment (IDR) program would cost another $70 billion, increasing the total plan cost to $605 billion under strict “static” assumptions. However, depending on future IDR program details to be released and potential behavioral (i.e., “non-static”) changes, total plan costs could exceed $1 trillion.
Even in the static sense, this cost analysis makes this look much worse than the White House let on. And note too that in the PWBM analysis, almost all of the cost — 87% of it — takes place in this fiscal year:
Our daughter opted for trade school over college. Saved us thousands and was a good choice since she hated school at the time and was a lousy student.
She took out the loan for the school in her name, but we made the payments as long as she was living at home. When she moved out, she became responsible for her own loan.
when does it stop ? every year there is a new batch of freshmen...
I guess they are still using coronavirus as reason.‘’
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Yes, this is what they are doing. Not one single person has had to make a college loan payment for almost three years when payments resume in 2023….you would think that buffer would be enough time to get well ahead of any burden these loans put on people, heck, they should be grateful for this pause alone..Imagine a three year grace period on a mortgage
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