They're not, some of us are just saying it might be tempting if they did that.
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A GOP proposal could snatch your student loan payment right from your paycheck
- Thread starter nightstalker962
- Start date
It's hot garbage but in a surreal way I can't even begin to care. All that money fucking evaporates at the end of the month anyway when I log into my account and hit the payment button on my mobile banking.
Might as well take it out of my paycheck so I have no illusions how much of a broke shit I am.
Ultimately...I really don't see the point of this bill at all. What purpose does it serve. I know it's a pipe dream, but it would be so much better to just formulate a fucking bill that helps us? Especially if you went private.
Honestly it's a bit discouraging that Democrats aren't drafting bills for shit like this either. Even if it was just a virtue signaling bill.
Might as well take it out of my paycheck so I have no illusions how much of a broke shit I am.
Ultimately...I really don't see the point of this bill at all. What purpose does it serve. I know it's a pipe dream, but it would be so much better to just formulate a fucking bill that helps us? Especially if you went private.
Honestly it's a bit discouraging that Democrats aren't drafting bills for shit like this either. Even if it was just a virtue signaling bill.
Technically true but what people always leave out is that whatever balance is ultimately 'forgiven' counts as income for the year it's forgiven (meaning you owe income tax on it) and if you're making $0 payments for 20/25 years the interest that accrues is crazy and you better be prepared for one hell of a tax bill the year it's actually forgiven.
They're in the business of making money, at every layer. Not education.
Multitude of reasons. Demand kind of exploded and at nearly the same time the government basically guarantees almost everyone can get a loan. And private loan companies now can't have those loans discharged in bankruptcy. Along with that state government funding hasn't kept up. And colleges have added services that have ballooned in costs in addition.
Basically there's literally no reason to lower or pressure the other direction. Nearly everyone is going to college and they'll take out whatever the loan is no matter the number and the loan agency will get their money.
This is the opposite of what needs to happen. Student loans need to be forgiveable so a ton of people declare bankruptcy to get out them, which would make them harder to get, so schools can't charge literally whatever they want or nobody could afford to go.
Interesting. One thing I didn't know or understand, does this mean that federally granted student loans are not covered in this and are able to be discharged?
It's also true that this probably enabled schools to increase costs as students could borrow more. I've always wondered what the effect of a lack of loans would be for both the cost of college, and for housing.
Interest rates are a reflection of risk taken on by the lender. Higher rates generally reflect riskier loans.
So if the government is going to take measures to ensure that everyone be coerced to have to pay their loans, then I would expect to be able to refinance for an insanely low interest rate, as this eliminates all risk (save death) on the part of the lender.
Anything short of that is simply a money grab that the GOP is trying to help the student loan lenders perform. (Which this obviously is.)
The end result that they're shooting for, even if they don't acknowledge it, is to disincentivize education and knowledge so as to better reinforce a working class and prohibit class movement from generation to generation.
So if the government is going to take measures to ensure that everyone be coerced to have to pay their loans, then I would expect to be able to refinance for an insanely low interest rate, as this eliminates all risk (save death) on the part of the lender.
Anything short of that is simply a money grab that the GOP is trying to help the student loan lenders perform. (Which this obviously is.)
The end result that they're shooting for, even if they don't acknowledge it, is to disincentivize education and knowledge so as to better reinforce a working class and prohibit class movement from generation to generation.
This seems like it could even screw with people who do have enough money to pay down their loans. I went pretty far above my minimum payments to minimize the amount of interest I'd have to pay.
Shit like this makes me glad I grew up in Scotland. No tuition fees, student loans are just for living costs, they don't come off until you are earning a decent salary and then they just come off automatically (which is good with those other things in place, you can't JUST take this part lol) so I literally never need to think about my student loan.
