Last week, the Supreme Court heard oral arguments in two challenges to President Joe Biden’s student debt forgiveness plan. While we wait for a ruling, millions of eligible borrowers remain in limbo, wondering just how much they will owe when payments resume. We break down how the justices responded and look at why another Biden administration repayment plan could provide even more relief in the long run.
Guest: Katie Lobosco, CNN Politics Writer
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Giving a 10 to $20,000 hand out to people who are privileged enough to go to college and pay for it from people who did not go to college who have to work twice as hard for every bit of their money.
They’re NOT “privileged enough to go to college”, that’s WHY they have the student-loan. Duh. If they were privileged, they wouldn’t have a student loan at all. The whole point to this is to help those who are NOT privileged. 😒 Whining about people who didn’t go to college is absurd because for the past 30 years, post-secondary has become accessible to everybody _because_ of student-loans. Those who didn’t go either chose to not go or were too dumb to get into at least a community-college trade-school. 🤷
@m said “Those who didn’t go either chose to not go or were too dumb to get into at least a community-college trade-school.”
While I agree with trade schools, you are not “too dumb” if you decide to not go to college. Firemen in my town don’t go to college, top off at $150,000 a year, full benefits and full pension.
@John 2081 I already graduated I paid off my debt I didn’t apply for a check because I don’t need it as much as others. Money is an idea. Our currency isn’t backed by anything. That’s why we send ukraine billions of it.
Not once have I heard a politician talk about fixing the problem. They all just want to give the people’s money away and let the problem persist.
Republicans- we all gave Marjorie Taylor Greene $183,504 for that fluffy coat.
Helping a teacher make a house payment or feed her kids is a small price to pay.
They don’t even acknowledge what caused the problem (hint it’s Goverment).
“Fix the problem” – Uh huh, and HOW pray-tell do you suppose they should do that. Your comment is like shouting into the void “just cure cancer!” That is to say, USELESS. 🙄
@m You get the federal government out of the loan business. Problem solved. Colleges raise the prices bc the government guarantees they get paid, no matter what they charge. Same with Medicare. If you had a company and the government guaranteed you got paid, you would raise prices too.
Fix the problem don’t give handouts, So they can just raise prices again.
“Fix the problem” – Oh, gee, they never thought about that. Good thing you came along with your random YT comment to solve the world’s problems by telling them that. They’ll get right on it. 😒
@m makes loads of sense. Lookup the salaries of college professors and presidents to find ridiculous salaries. Then actually make college loans dependent on actual ability or actual intelligence scores. Streamline degree to fit actual jobs without idiotic extra courses.
Why not an easy middle ground? If your degree didn’t benefit you. Turn it back over to the college and they eat the debt instead of the taxpayer. We subsidize them anyway.
We could try to make this an optional thing for tax season. You could have people that want to help opt-in to pay an additional percentage of taxes to help pay off other people’s debt. We could incentivize it by maybe considering it a type of donation instead of taxes, thereby giving them the ability to write it off.
*снежок такой красивый*
Yeah, loads will do that. We live in a world that people want others to pay for them not other way.
You can start by paying my rent, yea didn’t think so.
😆
Where does that end though? All taxation would have to become opt-in, because ALL taxation is spent “to pay the Debts and provide for the common Defence and general Welfare” (US Constitution, Article I, Sect. 8, clause 1).
All taxes are spent to help people in one way or another, and lot of things they are spent on are not helping EVERY SINGLE person. The obvious court case that would arise would be “if I can opt-out of paying taxes for student loan repayment, why can’t I opt-out of taxes that subsidize big oil or big pharma? Why can’t I opt-out of the taxes that subsidize foreign countries?
Personal financial responsibility! You borrowed the money you pay it back! The debt is not forgiven, it’s simply passed on to others.
My kiddo is in college. I’m a disabled 63 year old. The government used to help out by giving a little extra social security disability to the children of disabled but that practice ended. It’s really frustrating for somebody who has no ability to make a living to watch their child struggle with no assistance. Education should be a right so people can be the best versions of themselves. School has become a for-profit business, and I’m not talking about the schools. The financial institutions that depend on the money and income from these loans are driving this.
It ends when your kids are 18. These extra checks also go to any that get their kids qualified as disabled.
The world owes you nothing. Or your kid.
Yes, if given the opportunity. The Supreme Court will undo anything. Clarence Thomas said all they have to do is give them the case. The right-wing leaning Supreme Court will literally do the bidding of the Republican party.
Congress has power of the purse. The country should never be ruled by executive orders but actual law passing. The party will always shift powers in future.
The price of everything on campus will rise in exact accordance to how much relief the students get.
@Rob K
You are saying that if we help students pay for their college the price will increase for others.
Is that correct ?
I am saying when failed business men keep claiming millions in bankruptcy- the price of things will increase for others as well.
Would you agree ?
Curious if you would answer this.
If you personally had one choice here, what would it be.
It has to be one or the other.
1: Pay off a teachers student loan debt for $25,000.00 so she can pay her rent each month.
2: Pay off Marjorie Greene’s PPP loan for $180,000 so she can buy a new fluffy coat and a big balloon each month.
* One has already been done and Republicans had no problem with it.
Devaluing an education is the worst idea I have seen get mass support. What a self-serving strategy to avoid the burden they signed on for. Fix the system!
If you don’t want to have to pay the money back don’t take out the loan.
Teaching young people that it’s ok not to pay your debts is terrible.
Free education will pay for itself within one generation, as more people will have the opportunity to succeed, and not just those how can afford to go to collage, or university.
You’re assuming that college actually provides a financial ROI. Ask any college or uni alum and see how many of them actually got a job in “their field”. 😒 Also, it’s absurd to require education to require a financial ROI at all.
Thousands of young people “did the right thing” in going to college/university to position themselves better for the future, get a good job, make a good living, and get ahead in life etc. How are they repaid? Ridiculous amounts of student debt that takes YEARS to pay back and sometimes even jobs/salaries that end up not cutting it. Back then, higher education wasn’t nearly as expensive and a degree would guarantee you certain positions and salary. Now, a degree doesn’t have as much value, it might get you in the door, but salary wise you may have to start from the bottom.
I shouldn’t have to take out so many student loans that I have to pay back $20,000+ in student debt. And that’s minimal to what others have to pay. But, the education system has become so rigged and “privatized” that higher education becomes even more expensive. Not because it’s any good for the people, but a select few money hungry pieces of crap can profit. I’m glad that Biden has taken steps to help give at least some relief to students like me who are trying to start their life and get ahead, but have that damn looming cloud of student loans over my head.
EVERYONE else in history had to pay back their own loans. What is special about these people. NOBODY forced them to sign the loan.
Keep up the good work Joe 😂
ADD THIS TO BIDENS FAILURES
Here’s the thing, student loan forgiveness DOES benefit everyone. It has a HUGE positive effect on the economy. We now have plenty of data that bears out the predictions we already had.
Also, there are SO MANY offsets in our federal budget that could pay for this. Maybe just repeal the EXTRA money Congress gave the DoD that they didn’t even ask for….
I would fully expect loan forgiveness to be struck down. This activist court is packed with justices who were chosen specifically because they side with business over people. Their pre-SCOTUS records bear this out.
However, if we can’t forgive student debt, WE MUST start reforming tuition. It has soared WAY beyond inflation and universities are now dumping money into construction at alarming rates – especially public schools. They don’t know what else to do with all the money they have but don’t need.
I’d start with legislation that bans any public university from charging more for tuition than it expects it will need to pay expenses (to include reasonable infrastructure updates).
Why should a middle income plumber or electrician making $60,000 a year have to pay for the student debt of a college educated couple making up to $250,000 a year? They signed for the loans, they should pay them back, not expect a handout from taxpayers!
I might be inclined to feel like you, if the Government hadn’t bailed out the banking industry, General Motors, and forgiven the PPP debt.
The Key question is, Why do they need it to happen and How does the solution to the problem contribute to them (smaller picture) and the city, town, nation, country…etc (bigger picture).