Thune, GOP senators push bill to ban Biden from canceling student debt, as president mulls 'executive action'
Senate Republicans are signaling that they will dig in their heels on any effort by President Biden to cancel federal student loan debt.
Biden becoming a socialist like Trump trying to cancel student debt
- Thread starter CleteyColgate
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Performative bill that has no chance of passing but it will let them go on Hannity and vomit about our government doing something to help real people for a change. Any money that doesn't go to corporations or their billionaire owners is by definition communist/socialist/woke according to the GQP religion. It will put us on the fast track to being the next Venezuela.
They don't want to cancel debt because most of their voters don't believe in college education anyhow. The last thing they need is their voters becoming educated at some point.
I'd say age plays a bigger factor. Those older are more likely to have paid off their education. GOP voters are more likely to be older.
Party Identification Varies Widely Across the Age Spectrum
Democratic identification is highest among young Americans and older baby boomers, while Republicans do best among middle-aged Americans and seniors. Young Americans are most likely to identify as independents.
news.gallup.com
I'd say age plays a bigger factor. Those older are more likely to have paid off their education. GOP voters are more likely to be older.
Party Identification Varies Widely Across the Age Spectrum
Democratic identification is highest among young Americans and older baby boomers, while Republicans do best among middle-aged Americans and seniors. Young Americans are most likely to identify as independents.
It has more to do with whether your are a selfish a-hole, or not. I paid my way through college, working in restaurants, in the late 80s and early 90s. I never had a loan. I didn't need one as the state of FL subsidized tuition as it did for the boomers in the generation prior to mine. The finance gravy train and the elaborate building boom, also a give giveaway to construction company political donors, started just after I graduated. Two generations do not need to live a sharply reduced standard of living to pay for the sins of the political leaders of the 90s who created this mess.
Such bs. If you want to take out a loan to go to college, that's on you. No way should taxpayers have to foot the bill for people, who unless they are imbeciles and majored in basket weaving, should be making more than those without a degree. What about the blue collar worker who invests $50,000 in his business? He's taking on debt to improve his circumstances. Should taxpayers pay that as well? Of course not. This is nothing more than gaining political points with voters and forcing average Americans to pick up the tab for the college "elite".
I’m kind of in this boat but won’t be worked up about it unless it isn’t means tested.
Tik Toc...check out the "Debt per Taxpayer" window > https://www.usdebtclock.org/
Can't we just cancel it too, Jo?!?!?!?!
Can't we just cancel it too, Jo?!?!?!?!
This is literally the only thing that any politician in the US cares about. Republican or Democrat.
This is the question I haven't heard answered. There are those claiming he can and those claiming he can't. I honestly don't know.
He can declare bankruptcy and wipe out his debt as painful as that is. He is also protected from predatory lending practices. Neither of those things are true for student loans.
How many corporations have we just cancelled the debt on? How many industries have we picked up a huge chunk of the bill while also giving them tax cuts?
I'm good with canceling student loans. I'd much rather do it for young college grads than for corporations. Go for it.
I'm good with canceling student loans. I'd much rather do it for young college grads than for corporations. Go for it.
Yeah, if you have a graduate degree and can’t pay off student loans you probably did it wrong. Or you can pay them off, but would just prefer not to.
what about current students or new students starting college or grad school this fall?
Fix the system going forward.
What about the banks that built debt back up after the bail out? Car manufacturers? Etc...
That’s what everyone says. But I haven’t heard a single plan, and it certainly isn’t happening anytime soon. So, IMO should be no forgiveness until the system is fixed.
So, the argument here is that the government needs to bail out these people who were essentially victims of the government taking over student loans? I guess it's true what they say, government creates the problem and then acts like heroes when they fix the problem they created. I swear, we live in the dumbest of times....
Yikes. I remember before applying to grad schools, my advisor told me “if you can’t get somebody to pay it for you, you don’t belong in that grad school”.
The whole discussion around canceling college debt is comical because nothing will be done to address the cost of college. Democrats are not going to put pressure on higher learning to lower the cost of tuition.
Well, one could say that banks don't have to engage in shady loan and mortgage debt deals, but they did and the taxpayers bailed them out. So, this debate has been had already. I agree, people and organizations should be responsible for their debt. But that's not the way it actually works in this country so it's hard to say no to do this. And yes, I paid off all my student loan debt.
He likely has my vote anyway in 2024 with the clown show on the other side, but Biden can lock it in with me if he cancels the rest of my student loans
Explain to me … I have a graduate degree. Last year, I paid more than $75,000 in state and fed taxes combined. Why wouldn’t my tax dollars go towards this student debt relief? Why is it only those that didn’t go to college that are footing the bill? Hmmmmmmm ……
Can someone explain to me that if cutting taxes and putting more money in the hands of US citizens was going to be … I believe the term was “rocket fuel” … for the economy, why wouldn’t forgiving student debt have the same impact on the economy?
Canceling would be a misnomer,... These loans will have to be paid by someone.
In one scenario everybody gets a little rocket fuel. In the other, a select few get a lot of rocket fuel.
In any case, our economy needs less rocket fuel right now.
Amazing how this gets written off by a certain portion of the political spectrum
I'd say age plays a bigger factor. Those older are more likely to have paid off their education. GOP voters are more likely to be older.
Party Identification Varies Widely Across the Age Spectrum
Democratic identification is highest among young Americans and older baby boomers, while Republicans do best among middle-aged Americans and seniors. Young Americans are most likely to identify as independents.
Also likely paid a lot less for their education.
For me we shouldn't be canceling student debts we should be making college more affordable.
We have to fix the root cause of the problem.
Do you like proving your ignorance? You post an article that clearly says Trump "paused" payments, and you title your post "cancel".Thune, GOP senators push bill to ban Biden from canceling student debt, as president mulls 'executive action'
Senate Republicans are signaling that they will dig in their heels on any effort by President Biden to cancel federal student loan debt.www.foxnews.com
all I will listen to is reducing their cost by the amount equal to 2 years of community college. If you took out loans to an unaccredited for-profit college, that's on you. If you took out loans in excess of the actual cost of tuition, that's on you. If you used your loan money to party, that's on you. If you choose a crap major with little to no job prospects and a salary less than your student loans, that's on you. The study below showed that recent graduates are expecting salaries after graduation of around $104K, wherein reality it's around $55k.
unrealistic expectations
unrealistic expectations
I agree with you, a forgiveness of loans should be discussed only after the root cause has been fixed. To fix the problem, there would need to be battles with universities. I don't think they are going to want to give in very easily.
I am not sure I see dems going after universities, but could see the cons doing that part. I expect some announcements closer to mid terms to sway some votes, but the outcome will be a minimal change.
I would be interested in what's driving up the cost. The cons want to blame the loan system but I'm not so sure about that. Most colleges are not for profit entities run by a board of directors. There doesn't IMO seem to be a great deal of incentive to increase costs just because they can. However I would be open to having some fair minded accountants look at the books and tell us where the money is going.
Quite frankly I suspect a lot may have to do with increasing technology demands for pretty much every major. Investing in new technologies and maintaining them likely costs a lot.
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