A majority of Americans do not have college degrees. Of those who do, few will actually qualify for Joe Biden’s plan to deal with student debt. The plan is referred to as a ‘student loan forgiveness plan,’ but the actual policy is to take the private debts of individuals and make the American taxpayer cover them.
I started a bank account for my son when he was born and his mom and I paid for every dollar of his college degree. I think I should get some reparations!
Erick - Watching the weeping and nashing of teeth of people complaining about others getting debt relief makes me sad. Mercy is in short supply today. Did we complain to God because he designed the year of Jubilee? See Leviticus 25:1-13.
The Year of Jubilee, which came every 50th year, was a year full of releasing people from their debts, releasing all slaves, and returning property to who previously owned it. The Year of Jubilee foreshadowed Jesus future work on the cross. Through Jesus’ death and resurrection, he relieves us of all spiritual debts and our slavery to sin.
We should be happy some of our brothers and sisters are relieved of monetary debts. Let the person who owes no moral debts cast the first stone.
First, the schools are making a fortune - how does Congress get them to lower the tuition. Yes, what about the Congress - who are these people anyway. I see no accountability on either side. Money spent on seeing how fast a Turtle moves per hour! If an elephant can walk backwards or pigeons playing the slot machines. Secondly, where are the parents? The first year in college for most "children" is worthless - try Community College; then go to the college of your choice with the "brand" name on your degree. No one will ask you if you attended the same school for four years. I worked extra hours to put my daughter through school. She too worked part time to pay for her room/board and books and rowed for the school. They offered no scholarship for that sport - talk about an expense, but she loved it. She graduated in four years/not five and made the Dean's List. After graduating, she got a great job in sales and moved back home to put her salary towards a down payment on a house and pay towards the rest of her student loan. Mission accomplished.
As someone who paid off their college loan, this is just theft! I too am FURIOUS!!! Rewarding the irresponsible while punishing the hard working responsible is just sooooo WRONG!!! This is once again going to rob those of us saving for retirement as inflation rises and erodes my retirement account! I think Democrats know what they are doing and are trying to punish everyone who didn't vote for them!
I am beyond FURIOUS!!! My husband and I both worked and paid our way through college and our children worked and paid their way through college. No student debt at all!!! Why should the American people who were responsible for themselves have to pay the debt of someone who is irresponsible? Shame on them!!!! Also, all the people who chose not to go to college (that is not a bad thing!) why in the world should they have to pay? Also, This isn't even constitutional. We must vote all these awful, American hating people out of office in November! GET OUT AND VOTE, make your voice be heard!!! Thank you for addressing this. I personally wouldn't want my kids to go to college in this environment. We need more mentorships, internships and trades rather than filling the coffers of colleges who teach students to hate their country, hate anyone who disagrees with you, and doesn't educate but only indoctrinates! $300 Billion......you have got to be kidding!!!!!!
I appreciate this piece, I really do. But IMO, asking these questions is like asking why Siegfried & Roy's white tiger attacked. HE'S A TIGER!!! How could people be surprised that he acted like a tiger?? Likewise, you write of profound immorality and irresponsibility as if (gasp) we've never seen such behavior from our lovely "representatives" in Washington. These jackasses haven't passed a budget in two decades. They've taken our national debt from $5.67T in 2000 to well over $30T today. They print money with all the responsibility of printing Hallmark greeting cards. Our southern border is a sieve and our border policies have created a humanitarian crisis. Politician's self-interest consistently trumps what's best for the country. So are we really surprised that Biden and the left are proposing this? Of COURSE it's immoral and irresponsible, but it's so consistent with their behavior over the past 20 years that it should surprise no one. Oh, and if the Republicans tell you to give them Congress in 2022 and the presidency in 2024 so that they can reverse Biden's damage, remind them that they promised the same thing in 2014 and 2016, yet Obamacare still survives.
100% agree. It is a cheap, insincere, misleading move - exactly what I expect from the left. And the virtue signaling will be loud - if you don’t support it, you are racist, privileged, selfish, evil, etc etc etc
Paying the debts of residents or companies is not a proper function of government. It is not right to pay the student loans. It was not right to bail out GM or any other company. It was not right for Robin Hood to steal from the rich and give to the poor. It's a nice story. But it is still wrong.
Why stop here? Let's add housing and health care to the party. Shouldn't these two areas be free?
Everyone needs and has a right to free housing and free medical care. Oh yeah...let's not forget about free transportation too! How else can I get to my free doctors appt from my free house? You expect me to walk???
I'm smell the Teacher's Union influence here. My guess is that many of these loans are held by teachers for their undergrad, Master's and PhD's. The schools are complicit(they are run by PhD's), they lead parents and children to the finance(student loan) department during orientation. I agree with RKelly, the debt and risk should be held by the school as it is when you lend money to your Brother-In-Law! Schools must determine the credit worthiness of the borrower and their ability to repay.
I am extremely disappointed that this administration can intentionally attempt to buy voters by this move. They have dangled this for a long and now just months before the election they get it moving. What a nice bribe. It is irresponsible to give this money to these borrowers. Every person that has saved and worked their way through college gets a slap in the face while people that didn't manage their life effectively during college get a free pass. It is just sad this government thinks that this works. It does not help anyone but just attempts to buy votes.
If we had a solvent retirement system where people had their own accounts, then people should be allowed to invest in themselves to attend college, purchase training, tools, etc. to get started in a career. A little up front to bring in a lot more later to wind up at a better place.
But this still wouldn't help the gender studies, underwater basket weaving, critical dance theory, etc. kind of folks have a solvent life.
Does the President have the Constitutional Piwer to forgive Student Debt? Nancy Pelosi last year said he does not. The power over money resides with the House if Representatives, not with the President. An Executive Order should be Illeagle.
It's going to interesting to see the details of this. It will of course impact the baristas with puppetry arts and gender studies degrees that took out copious amounts of loans to provide a college experience and the accompanying lifestyle that entails w/ little to no thought of the future to the cheers of their college advisors.
The other group that is going to cash in are recent graduates. Those people who graduated in the last five or so years will likely be under the threshold. What about current students racking up debt? Is this going to be subject to the whole FAFSA routine where savings for kids is punished before any aid is rendered? I'm sure they'll find a way to find out the financial standing of their supporting families, and punish the people who are responsible parents.
The higher education financial aid people are very sneaky. They make loans look like college financial aid if you are not very careful. They just include the loan when adding up the semester cost like its free money. Which is why, in my opinion, they should be liable. It is akin to being a drug dealer.
Then this enables the policies of the faculty lounge. I'm sure the number of tenured faculty has increased ten-fold the past decade. Not to mention how their salaries have risen as well. This is a very big entitlement-laden class of people.
I started a bank account for my son when he was born and his mom and I paid for every dollar of his college degree. I think I should get some reparations!
So will these people receive 1099's and pay taxes on this charge-off of debt???
Erick - Watching the weeping and nashing of teeth of people complaining about others getting debt relief makes me sad. Mercy is in short supply today. Did we complain to God because he designed the year of Jubilee? See Leviticus 25:1-13.
The Year of Jubilee, which came every 50th year, was a year full of releasing people from their debts, releasing all slaves, and returning property to who previously owned it. The Year of Jubilee foreshadowed Jesus future work on the cross. Through Jesus’ death and resurrection, he relieves us of all spiritual debts and our slavery to sin.
We should be happy some of our brothers and sisters are relieved of monetary debts. Let the person who owes no moral debts cast the first stone.
First, the schools are making a fortune - how does Congress get them to lower the tuition. Yes, what about the Congress - who are these people anyway. I see no accountability on either side. Money spent on seeing how fast a Turtle moves per hour! If an elephant can walk backwards or pigeons playing the slot machines. Secondly, where are the parents? The first year in college for most "children" is worthless - try Community College; then go to the college of your choice with the "brand" name on your degree. No one will ask you if you attended the same school for four years. I worked extra hours to put my daughter through school. She too worked part time to pay for her room/board and books and rowed for the school. They offered no scholarship for that sport - talk about an expense, but she loved it. She graduated in four years/not five and made the Dean's List. After graduating, she got a great job in sales and moved back home to put her salary towards a down payment on a house and pay towards the rest of her student loan. Mission accomplished.
As someone who paid off their college loan, this is just theft! I too am FURIOUS!!! Rewarding the irresponsible while punishing the hard working responsible is just sooooo WRONG!!! This is once again going to rob those of us saving for retirement as inflation rises and erodes my retirement account! I think Democrats know what they are doing and are trying to punish everyone who didn't vote for them!
I am beyond FURIOUS!!! My husband and I both worked and paid our way through college and our children worked and paid their way through college. No student debt at all!!! Why should the American people who were responsible for themselves have to pay the debt of someone who is irresponsible? Shame on them!!!! Also, all the people who chose not to go to college (that is not a bad thing!) why in the world should they have to pay? Also, This isn't even constitutional. We must vote all these awful, American hating people out of office in November! GET OUT AND VOTE, make your voice be heard!!! Thank you for addressing this. I personally wouldn't want my kids to go to college in this environment. We need more mentorships, internships and trades rather than filling the coffers of colleges who teach students to hate their country, hate anyone who disagrees with you, and doesn't educate but only indoctrinates! $300 Billion......you have got to be kidding!!!!!!
I appreciate this piece, I really do. But IMO, asking these questions is like asking why Siegfried & Roy's white tiger attacked. HE'S A TIGER!!! How could people be surprised that he acted like a tiger?? Likewise, you write of profound immorality and irresponsibility as if (gasp) we've never seen such behavior from our lovely "representatives" in Washington. These jackasses haven't passed a budget in two decades. They've taken our national debt from $5.67T in 2000 to well over $30T today. They print money with all the responsibility of printing Hallmark greeting cards. Our southern border is a sieve and our border policies have created a humanitarian crisis. Politician's self-interest consistently trumps what's best for the country. So are we really surprised that Biden and the left are proposing this? Of COURSE it's immoral and irresponsible, but it's so consistent with their behavior over the past 20 years that it should surprise no one. Oh, and if the Republicans tell you to give them Congress in 2022 and the presidency in 2024 so that they can reverse Biden's damage, remind them that they promised the same thing in 2014 and 2016, yet Obamacare still survives.
100% agree. It is a cheap, insincere, misleading move - exactly what I expect from the left. And the virtue signaling will be loud - if you don’t support it, you are racist, privileged, selfish, evil, etc etc etc
Not all borrowers stoped making payments during COVID. Those with financial savvy kept paying to save interest. Double whammy!
Paying the debts of residents or companies is not a proper function of government. It is not right to pay the student loans. It was not right to bail out GM or any other company. It was not right for Robin Hood to steal from the rich and give to the poor. It's a nice story. But it is still wrong.
Why stop here? Let's add housing and health care to the party. Shouldn't these two areas be free?
Everyone needs and has a right to free housing and free medical care. Oh yeah...let's not forget about free transportation too! How else can I get to my free doctors appt from my free house? You expect me to walk???
I'm smell the Teacher's Union influence here. My guess is that many of these loans are held by teachers for their undergrad, Master's and PhD's. The schools are complicit(they are run by PhD's), they lead parents and children to the finance(student loan) department during orientation. I agree with RKelly, the debt and risk should be held by the school as it is when you lend money to your Brother-In-Law! Schools must determine the credit worthiness of the borrower and their ability to repay.
I am extremely disappointed that this administration can intentionally attempt to buy voters by this move. They have dangled this for a long and now just months before the election they get it moving. What a nice bribe. It is irresponsible to give this money to these borrowers. Every person that has saved and worked their way through college gets a slap in the face while people that didn't manage their life effectively during college get a free pass. It is just sad this government thinks that this works. It does not help anyone but just attempts to buy votes.
If we had a solvent retirement system where people had their own accounts, then people should be allowed to invest in themselves to attend college, purchase training, tools, etc. to get started in a career. A little up front to bring in a lot more later to wind up at a better place.
But this still wouldn't help the gender studies, underwater basket weaving, critical dance theory, etc. kind of folks have a solvent life.
Does the President have the Constitutional Piwer to forgive Student Debt? Nancy Pelosi last year said he does not. The power over money resides with the House if Representatives, not with the President. An Executive Order should be Illeagle.
It's going to interesting to see the details of this. It will of course impact the baristas with puppetry arts and gender studies degrees that took out copious amounts of loans to provide a college experience and the accompanying lifestyle that entails w/ little to no thought of the future to the cheers of their college advisors.
The other group that is going to cash in are recent graduates. Those people who graduated in the last five or so years will likely be under the threshold. What about current students racking up debt? Is this going to be subject to the whole FAFSA routine where savings for kids is punished before any aid is rendered? I'm sure they'll find a way to find out the financial standing of their supporting families, and punish the people who are responsible parents.
The higher education financial aid people are very sneaky. They make loans look like college financial aid if you are not very careful. They just include the loan when adding up the semester cost like its free money. Which is why, in my opinion, they should be liable. It is akin to being a drug dealer.
Then this enables the policies of the faculty lounge. I'm sure the number of tenured faculty has increased ten-fold the past decade. Not to mention how their salaries have risen as well. This is a very big entitlement-laden class of people.