I spent most of my money after graduation paying off student loans. I made sure I got a degree in a field that allowed me to get a job to pay back my loans.
-
Ever wanted an RSS feed of all your favorite gaming news sites? Go check out our new Gaming Headlines feed! Read more about it here.
-
We have made minor adjustments to how the search bar works on ResetEra. You can read about the changes here.
Elizabeth Warren announces student debt cancellation and free public college plan
- Thread starter Nothing Loud
- Start date
- Status
I spent most of my money after graduation paying off student loans. I made sure I got a degree in a field that allowed me to get a job to pay back my loans.
Okay, what about the college graduates who have thrown their hard earned money at their student debt? Will they receive reimbursement?
No, and apparently even asking this question makes you a Republican
Why would they?
That's like asking if peoples medical expenses from 4 years ago get paid off if we implement M4A
Every "promise" a politician makes on the campaign trail is merely hope.
Unless they can get congress to go along with them it doesn't matter.
She can push for this and Bernie can push for social medicine but unless they get the votes in Congress it's just words.
Blows my mind that people are really sour on this idea because they already went to college and paid off their loans. Fuck improving the quality of life for struggling Americans, where's my government handout?
Like, ya'll understand that unless you're obscenely wealthy, this plan doesn't even affect you at all right? Literal "fuck you, got mine" in this thread. And Era gets called a "liberal hivemind" haha.
Like, ya'll understand that unless you're obscenely wealthy, this plan doesn't even affect you at all right? Literal "fuck you, got mine" in this thread. And Era gets called a "liberal hivemind" haha.
I don't want anyone to be saddle with debt but if everyone gets $50k to pay off outstanding debt I should get that in tax credit for paying off mine. Why wouldn't this be a benefit for everyone?
I did too. Guess what? So what.
Kids don't deserve to be put in this situation in the first place. This is fucking stupid. You can consider yourself lucky and an exception to the rule in a system that generates a virtually-indentured workforce.
What are you even talking about with 401k?. 401k plans invest in markets. Some plans offer dozens of funds. Some plans let you invest in anything you want. Some people will invest in domestic, some people will invest in international. I'll go out on a limb and say that most 401k plans are invested in domestic (usa) type funds. So the market is not expected to perform well over what exactly? 5 years? 10 years? 20 years?
Also, I don't think you know what compound interest is.
I love how the biggest hurdle to getting out of this societal death spiral will be sour grapes people who have been able to pay off their student loan debt already. Just fantastic.
I lived at home for 5 years while working full time to pay of my 45k in student loans, so this wouldn't benefit me, but I still support this because I see how my entire generation is being held back by student loans. Also remember that many parents have loans on their kids too, so this gong through could free up multiple generations impacted by the student debt crisis.
"apparently"? What is that supposed to mean?
because I never thought student debt forgiveness would be a reality and if I knew it was then I would hold off on it for longer.
People vote based on policies that directly affect them, there is absolutely nothing wrong with that. Buying votes is literally giving money in exchange for a vote, whereas this is introducing policy that will gain you support...which is how politics is supposed to work.
It's dumb and in bad faith to assume that everyone or even most people who graduated with debt is making six figures. The vast vast majority of people who will benefit from her plan do not make close to $100k. And frankly depending where you live (usually where you could get a job with six figures) $100k is not that much money.
Her tax plan for the top 5% returns almost three times as much money as needed for this debt relief plan. So there is ample money if you'd pay attention.
How are we going to pay for it doe?
We have 3 more regimes we need to topple within the next 5 years, ain't no one got time to improve the life of the American middle class.
We have 3 more regimes we need to topple within the next 5 years, ain't no one got time to improve the life of the American middle class.
OP
OP
If you think the student debt crisis is simply a matter of personal responsibility and bootstraps, I think you're wrong, and I think it reveals a misunderstanding of the purpose of relief programs. A lot of people didn't have the chance to make it through school or have affordable tuition or debt payments even if they worked their asses off (like me). If you got a quality college education in the 21st century and you don't owe anything for it, you're benefiting in some way from privilege, whether it's that you were able to work while studying (some courseloads don't allow for this, and only healthy people can work, and sometimes there isn't affordable childcare so students with families often struggle to work+study without compromising grades and fucking up your graduation rate or your competitiveness for jobs/internships), your school's tuition wasn't as high as others, your school offered generous financial aid, or your parents helped you pay it, or your job after graduation helps you pay it, etc. In the end it's not because you were better than everyone else, otherwise millions of Americans wouldn't have 5+ figures in debt for a bachelors degree.
This is about helping to fix an entire system beyond you or me.
I'm all for this. I'm just curious what's going to happen in the case of schools that rely so much on the tuition and fees due to their state government prioritizing higher education so low. I guess that could wake the states up?
Would this also cover trade schools?
Would this also cover trade schools?
Yeah, bunch of people crawl out of the woodwork to shit on this idea every time a thread pops up.
On top of these reforms, there needs to be cost control reforms implemented (at least at public institutions). Going to college shouldn't mean that you are primarily subsidizing NCAA sports teams and lavish amenities.
This shit shouldn't be about have facilities that are akin to a resort. It should be about having good quality professors and adequate campus resources.
What I stated above is essentially the core of the problem. Easy access to loan money has college admins spending money recklessly on things that are ancillary to the core service of providing a good higher education.
This shit shouldn't be about have facilities that are akin to a resort. It should be about having good quality professors and adequate campus resources.
What I stated above is essentially the core of the problem. Easy access to loan money has college admins spending money recklessly on things that are ancillary to the core service of providing a good higher education.
It is expected to grow around 3% for the next 10 years: https://advisors.vanguard.com/VGApp...518:TW:XX:XX:XX:sf192612203&sf192612203=1
So yeah, much slower than an 8% compound interest loan that you cannot declare bankruptcy to get out of but go off I guess.
> Also, I don't think you know what compound interest is.
Fuck you, smarmy little troll.
Well, if your policy positions can be summed up as 'I got fucked so everyone should get fucked too' then you're pretty close to Republican.
People care about stuff that directly benefits them.
People can be profoundly liberal and still dislike this plan. It's not a requirement that someone support this very specific plan from this one politician, otherwise they're not liberal, and doing that sort of inane labeling just pushes people away
So do you think that professions that require higher education and sometimes multiple degrees, but are public service positions and thus pay significantly less than private sector work are just full of irresponsible people or something? Teachers, librarians, social workers, non-profit workers, etc. Keep in mind, the government promised these people that a significant portion of their student loan debt would be forgiven in exchange for their public service, a promise that the government has since refused to make good on. Your attitude is nothing more than "fuck you, got mine".
Even if she doesn't get the nomination, I'm hoping for a Bernie - Warren run.
Then again, I also want Tulsi Gabbard too. There are a lot of good Democratic candidate this election.
Then again, I also want Tulsi Gabbard too. There are a lot of good Democratic candidate this election.
Yea, pushing your allies away because they may not support this one particular policy is a really good idea.
I did. Your reading skills and you math skills were found wanting.
As someone who was lucky enough to need to take loans for college, they absolutely need to forgive the current debts as well as make college free. The current system is super predatory especially since it's not like getting a degree even guarantees you a decent job in this day and age. And even if you already paid your own debts, this helps our society as a whole by massively boosting the economy
It would be a dream come true, but it would be just that: a dream. No way does this get enough bi-partisan support to pass. I'm failing to see how colleges would be ok with this given all the bullshit they make students pay for.
But she has my vote, as this would greatly improve the lives of millions (including my family), and put us on the right path. However, I think Universal Health Care would be more of a priority than free college.
But she has my vote, as this would greatly improve the lives of millions (including my family), and put us on the right path. However, I think Universal Health Care would be more of a priority than free college.
If you are unwilling to support a policy position because it doesn't directly benefit you, even though it DOES benefit millions of struggling Americans and would improve society overall immensely, then you are not progressive.
"EVERYONE MUST SUFFER LIKE I DID" - Assholes.
I skipped college but you better believe I'd be willing to pay higher in taxes if it meant I was actually helping people out. Luckily, I'm not even a mega millionaire, so I don't have any reason to object and most everyone here probably doesn't, either.
I skipped college but you better believe I'd be willing to pay higher in taxes if it meant I was actually helping people out. Luckily, I'm not even a mega millionaire, so I don't have any reason to object and most everyone here probably doesn't, either.
Someone who only supports liberal policies that directly benefit themselves isn't really a liberal in my eyes
Okay, if they're not progressive I guess they'll just go vote Republican. Might as well, right? Since they're not liberal.
Between this thread and the rich liberal thread, liberals are really good at pushing away their allies.
Yes?
Just because they don't check very specific policy boxes doesn't mean they don't agree that something needs to be done about student loan debt.
Will never happen. I'd certainly be for it if it did though, even though my loans are already paid, and my wife's are about to be.
I think it would be more realistic to shoot for legislation that would give payers the ability to refinance the interest rate to ohhh, say the Federal Funds Rate (currently at 2.5%, I think), AND legislation that would prevent colleges from constantly jacking up tuition costs. The school that I went to for my bachelor's was $5,000 per year back in 2005. It's now about $15,000. Absolutely absurd.
I think it would be more realistic to shoot for legislation that would give payers the ability to refinance the interest rate to ohhh, say the Federal Funds Rate (currently at 2.5%, I think), AND legislation that would prevent colleges from constantly jacking up tuition costs. The school that I went to for my bachelor's was $5,000 per year back in 2005. It's now about $15,000. Absolutely absurd.
this is like if you demanded you get a refund because you bought a console at launch but two years later there's a price drop
or being mad that there's a price drop because you paid full price and asking for like more bundled in games instead of a price drop
I don't think it's really on the same level as people still being in jail for years on drug offenses after marijuana is legalized
or being mad that there's a price drop because you paid full price and asking for like more bundled in games instead of a price drop
I don't think it's really on the same level as people still being in jail for years on drug offenses after marijuana is legalized
I paid 45k in loans, if there is going to be some kind of forgiveness plan then I would like some of that money back
How do you realistically do something about student loan debt that doesn't involve debt forgiveness?
Well, often they are not because this will never pass any legislative body in the United States.
We all know this.
- Status