White House to cancel up to $20,000 in debt relief for Pell Grant recipients

Tom Paris

HR Legend
Gold Member
Oct 1, 2001
45,808
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The point is obvious,.. wear a hat.
Still missing it. Willfully. Your guy can blow off his bills. Billionaires can blow off their bills. You want me to support a guy who has gone out of his way to not pay back anything he owes. Hypocrisy.
 
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onlyTheObvious

HR Heisman
Jan 3, 2021
7,212
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Want college to be cheaper?

stop giving away money. Force students to go junior college route. Force universities to make it cheaper. I wouldn’t give out government loans to private schools. Let them figure out their own mess. Many are sitting on huge endowments. Maybe they need to use that money different.

I think private student loans are dischargeable via bankruptcy. So lenders in that game can decide if the student and their school choice and field of study makes sense for the dollars. If private loans are not dischargeable they should be.

I still have heard the average hard luck story about student loans that makes sense. “ you really couldn’t work and needed to borrow every penny?” “You had to go private school?” “ junior college wasn’t an option?”

seems to me most of the horror stories were obvious the day they took out the loan. Sometimes the answer is no. But good luck that being accepted in todays world.

nobody wants to hear the truth, they just want other people’s money to make up for what they think is a right.

read a Post from somebody on Twitter this weekend in an arguement about the loans. The person said “ the loans are being forgiven so the tax payers won’t have to pay for it”. Dear god.
 
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Tom Paris

HR Legend
Gold Member
Oct 1, 2001
45,808
52,906
113
Want college to be cheaper?

stop giving away money. Force students to go junior college route. Force universities to make it cheaper.

I think private student loans are dischargeable via bankruptcy. So lenders in that game can decide if the student and their school choice and field of study makes sense for the dollars. If private loans are not dischargeable they should be.

I still have heard the average hard luck story about student loans that makes sense. “ you really couldn’t work and needed to borrow every penny?” “You had to go private school?” “ junior college wasn’t an option?”

seems to me most of the horror stories were obvious the day they took out the loan.

nobody wants to hear the truth, they just want other people’s money to make up for what they think is a right.

read a Post from somebody on Twitter this weekend in an arguement about the loans. The person said “ the loans are being forgiven so the tax payers won’t have to pay for it”. Dear god.
If only the costs that universities have to pay didn't go up also the last 30 years. They aren't immune to the rising costs of EVERYTHING, for decades. They can't, on their own, just make college cheaper.
 

Joes Place

HR King
Aug 28, 2003
127,223
124,539
113
Want college to be cheaper?

stop giving away money. Force students to go junior college route. Force universities to make it cheaper.

Force?
No

Incentivize.
Any student who takes out a loan to attend your college or university is now YOUR institution's responsibility for underwriting those loans. Incentives become "lower costs" to lower your own financial risks, "improve educational product" so students you graduate are capable of paying back because they will get good jobs, provide clear advisement and updates to students obtaining loans on what payback terms and costs will be to also lower your risk.

And no student should be paying 6%-8% on a student loan (that was my rate back in the day); underwrite loan costs so that school loans are at interest rates lower than 30 yr mortgages.
 
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onlyTheObvious

HR Heisman
Jan 3, 2021
7,212
8,449
113
Force?
No

Incentivize.
Any student who takes out a loan to attend your college or university is now YOUR institution's responsibility for underwriting those loans. Incentives become "lower costs" to lower your own financial risks, "improve educational product" so students you graduate are capable of paying back because they will get good jobs, provide clear advisement and updates to students obtaining loans on what payback terms and costs will be to also lower your risk.

And no student should be paying 6%-8% on a student loan (that was my rate back in the day); underwrite loan costs so that school loans are at interest rates lower than 30 yr mortgages.
I am fine lowering the interest rate to whatever the rate the government gives money away to banks. It’s been damn near zero for a decade. Loans should be junior college level first two years and in-state public school the last two. Want to go a more expensive route? That’s on the student, not the government.
 

Rifler

HR Legend
Jan 26, 2011
25,725
20,830
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If only the costs that universities have to pay didn't go up also the last 30 years. They aren't immune to the rising costs of EVERYTHING, for decades. They can't, on their own, just make college cheaper.

Sure they can,.. Somebody needs to do a McDonalds version of college and it would probably be popular as hotcakes.
 

desihawk

HR Heisman
Oct 1, 2002
9,125
8,945
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RhJpOjX.jpeg
didn't he pay it forward too? for the analogy to work do something for everyone's college going forward as well ...
that said, religion isnt my thing, i could very well be wrong...
 

TonyTheTiger.1865

HR All-American
Sep 23, 2011
2,841
3,801
113
Want college to be cheaper?

stop giving away money. Force students to go junior college route. Force universities to make it cheaper. I wouldn’t give out government loans to private schools. Let them figure out their own mess. Many are sitting on huge endowments. Maybe they need to use that money different.

I think private student loans are dischargeable via bankruptcy. So lenders in that game can decide if the student and their school choice and field of study makes sense for the dollars. If private loans are not dischargeable they should be.

I still have heard the average hard luck story about student loans that makes sense. “ you really couldn’t work and needed to borrow every penny?” “You had to go private school?” “ junior college wasn’t an option?”

seems to me most of the horror stories were obvious the day they took out the loan. Sometimes the answer is no. But good luck that being accepted in todays world.

nobody wants to hear the truth, they just want other people’s money to make up for what they think is a right.

read a Post from somebody on Twitter this weekend in an arguement about the loans. The person said “ the loans are being forgiven so the tax payers won’t have to pay for it”. Dear god.
The loans are guaranteed by the federal government regardless of who lent the money.
 

Joes Place

HR King
Aug 28, 2003
127,223
124,539
113
That I am not sure of. I know student loans with the governments guarantee must be paid back. That means if Biden writes them off the books, the taxpayers are on the hook.
You didn't seem to care about how many PPP loans (including those with massive amounts to Congresspersons' business interests) or the 2009 bailouts put "taxpayers on the hook"

This is small in comparison. And the people it benefits are far far lower income.
 

Hawk It Up

HR All-American
Sep 1, 2019
3,108
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So everyone that did not go to college or paid their loans off are being forced to Pay for a few select deadbeats. What the hell throw billions more on the debt.

My understanding is that 52% of student loans belong to the 13% that pursued grad degrees.

Now this is white privledge.
I've never sent a kid to a public school.

Where do I get 30 years of tax levies refunded?
 

TonyTheTiger.1865

HR All-American
Sep 23, 2011
2,841
3,801
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You didn't seem to care about how many PPP loans (including those with massive amounts to Congresspersons' business interests) or the 2009 bailouts put "taxpayers on the hook"

This is small in comparison. And the people it benefits are far far lower income.
125k/250k low income?????