White House to cancel up to $20,000 in debt relief for Pell Grant recipients
- Thread starter cigaretteman
- Start date
They did remove exemptions but I'm not sure if the increased CTC replaced them or at least it wasn't the direct replacement. I think they increased the standard deduction which was the "replacement" for the exemptions IIRC. But I could be wrong!
The $250,000-plus income bracket roughly represents the top 5% of earners in the country, according to US Census Bureau data.
More than a third of Americans earning at least $250,000 annually say they are living paycheck to paycheck, underscoring how inflation is taking a bigger bite out of Americans’ budgets at all ends of the pay spectrum.
Some 36% of households taking in nearly four times the median US salary devote nearly all of their income to household expenses, according to a survey by industry publication Pymnts.com and LendingClub Corp.
It’s particularly true among millennials, who are now in their mid-20s to early 40s: More than half of top earners in that generation report having little left at the end of the month.
Sounds like a spending/priority problem to me...
www.bloomberg.com
More than a third of Americans earning at least $250,000 annually say they are living paycheck to paycheck, underscoring how inflation is taking a bigger bite out of Americans’ budgets at all ends of the pay spectrum.
Some 36% of households taking in nearly four times the median US salary devote nearly all of their income to household expenses, according to a survey by industry publication Pymnts.com and LendingClub Corp.
It’s particularly true among millennials, who are now in their mid-20s to early 40s: More than half of top earners in that generation report having little left at the end of the month.
Sounds like a spending/priority problem to me...
One-Third of Americans Making $250,000 Live Paycheck-to-Paycheck, Survey Finds
More than a third of Americans earning at least $250,000 annually say they are living paycheck to paycheck, underscoring how inflation is taking a bigger bite out of Americans’ budgets at all ends of the pay spectrum.
www.bloomberg.com
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Admittedly, the main reason I'm not a huge fan of the loan forgiveness is that on it's own its a bandaid on an open wound. Short-term relief that doesn't solve the underlying problem of how and why college expenses have exploded.
Oh, I'm quite certain I don't understand all the layers involved. As I said, my parents were able to put enough money aside that most of my expenses were paid for, so I'm sure there's a ton going on that I was unaware of when I graduated in '06. I know that state funding of public universities in Iowa has gradually declined over the years, cost of living has risen, God only knows how much textbooks, notebooks and the like cost now, as well as a whole host of stuff I'm not even thinking of.
Just working class folk….probably drive 2002 Dodge Caravans
This is the same guy who ripped off taxpayers for over 100 million dollars but fiscal responsibility or something
33% of undergraduates do not complete their degree.
First-time undergraduate freshman have a 12 month dropout rate of 24%
39 million Americans were college dropouts in July 2020. Less than 1M of them re-enrolled in the Fall.
The US taxpayers are now footing the bill for several semesters worth of parties, Skipping class and sleeping in until the afternoon.
First-time undergraduate freshman have a 12 month dropout rate of 24%
39 million Americans were college dropouts in July 2020. Less than 1M of them re-enrolled in the Fall.
The US taxpayers are now footing the bill for several semesters worth of parties, Skipping class and sleeping in until the afternoon.
83 percent today get through undergrad at a state university with less than 20k debt. This is a pay off to the irresponsible, to grad students and to people who chose to go to private schools or scams (online schools). Many people qualify for academic scholarships. In Florida, this isn’t even means tested. Meaning, you’re a good student you get your tuition paid for.
grad students are adults and don’t need their pet pursuit paid for unless they’re competitive for some other program that we incentivize. We don’t need to be paying for student loan debt chosen by the student, and allocated by the student. People choose to max their loans. People choose to live in nice apartments and buy clothes w their loans. People choose to not work. To not look for scholarships.
yes and for people who barely graduate from hs, or worse, don’t and then get a ged, max loans to go to community college, use those loans to supplement their lifestyle, perform like ass, never graduate and are never gainfully employed.
Another example. I have a former fellow student who maxed his loans from undergrad thru completing his phd despite full academic scholarships including stipend. We just gave him 10k. Why? He’s Mormon. He had a boatload of children. His wife didn’t work and he decided to buy a way above median price home. Ie. We didn’t give him 10k for school. We helped him but a house with a pool while he was a student.
Compounding the issue, said soul with a phd, would have been competitive for numerous loan repayment program options but all require some sort of service or things he didn’t want to do. He wanted to live somewhere beautiful. So, he does.
Compounding the issue, said soul with a phd, would have been competitive for numerous loan repayment program options but all require some sort of service or things he didn’t want to do. He wanted to live somewhere beautiful. So, he does.
Yep 100%. I work in insurance and see gross payrolls. Ready mix, dump truck drivers, electric, mechanical, pipe operators, iron workers, etc are making six figures in Des Moines.
Hell they will pay someone 25 bucks a hour to clean debris at their job sites.
You don’t need to take on 100k in debt to go make 100k a year anymore. Just takes a little work ethic.
No accountability anymore.
steal from a store and face no jail time.
Shit it the street, no big deal.
Pitch a tent on a public sidewalk forever.
Borrow money and never pay it back even though you can.
get addicted to drugs and alcohol.
the excuse for all of the above is I am a victim and somebody else needs to pay for it.
steal from a store and face no jail time.
Shit it the street, no big deal.
Pitch a tent on a public sidewalk forever.
Borrow money and never pay it back even though you can.
get addicted to drugs and alcohol.
the excuse for all of the above is I am a victim and somebody else needs to pay for it.
It’s amazing that POTUS feels these folks can’t make it in life so they need their college debt wipe away but on the other hand we are all supposed to buy 50k EVs
I just want to add that my 23 year old nephew is irate right now. He worked at HyVee all through college to pay hit tuition. Nights, weekends, summers, spring breaks. Lived like a poor church mouse. If only he knew
But, but. Some white children get help from their parents. So, that means white children get white priv so we need to pay their student loans and bipoc loans to make up for it.
The outrage and howling when any ordinary people get any direct assistance from the government, just amazing. Just a grievance culture. Man we are a sick society.
And generally from the same people who are completely ignorant and/or don't care about how both Republicans and Democrats have been captured by monied interests. Lobbyist culture in Washington and state capitols that benefits the few at the expense of the many is far far far more corrupt and expensive.
But none of the idiot schlubs care about that, only if they think the schlub next door might have gotten something that they didn't get.
And generally from the same people who are completely ignorant and/or don't care about how both Republicans and Democrats have been captured by monied interests. Lobbyist culture in Washington and state capitols that benefits the few at the expense of the many is far far far more corrupt and expensive.
But none of the idiot schlubs care about that, only if they think the schlub next door might have gotten something that they didn't get.
It’s not either or. This is irresponsible and unfair. And, in a way that it is very easy for the average middle class American to understand. Millions of middle class people have paid student loans. And, the president, by executive order, just said their fellow middle class citizens get a 10k boon on their dime.
Oh for cripes sake. Irresponsible and unfair? This is one of the few things modern government has done (child tax credit is another) that is responsible and fair, in that millions of people are going to directly benefit from government action rather than the usual very few.
And again, LOL at ANYONE who went to college pre-1990 who's whining at all about this. You want to talk heavily subsidized and a "free handout" on the back of the average middle class or whatever. Basically prior to then if you went to college you were only sacrificing your time when you could have instead been earning money, student loan debt was low or non-existent.
As well as the stimulus payments. I didn't need a single one of them. Best I could do was put it towards small business--win win IMO.
As you are as well.
This is being viewed by the masses as a handout to those who aren’t taking responsibility for their actions. It cuts to the core of many peoples beliefs and how they conduct themselves every day.
You're just so comprehensively full of shit. Just give your opinion on this, don't make up a nephew to give your opinion.
And LOL at Republican politicians (hell any Democrats bitching as well) that are totally in the bag for their big money contributors rending their garments over this. Just a full-of-shit circus.
You know what the call the interest portion of your debt?,... That's called debt.
I read it is for 2021 or 2020. This may put more professionals below the income thresholds due to 2020 COVID shutdowns.
https://fortune.com/2022/08/24/biden-to-forgive-10000-in-student-loan-debt-heres-who-qualifies/amp/
Who qualifies for student loan forgiveness?
Biden’s plan limits forgiveness to individuals earning under $125,000 per year during tax years 2020 or 2021. The Department of Education estimates that nearly 90% of relief dollars will go to those earning less than $75,000 a year. No one in the top 5% of households by income in the U.S. will qualify for relief.
Real story. And it has happened to a ton of kids and adults just like him.
Paying off debt for a bunch of Fuking losers. I hope you guys are proud of yourselves
I'm not a fan of this at all. But, I would be more likely to get on board if the income limit was lower - say $60-75k.
A household making $250k gets a $10k bonus? That's pretty crazy.
A household making $250k gets a $10k bonus? That's pretty crazy.
Again, government at pretty much all levels these days acts as a grift machine for rich people and business. But what we're gonna get outraged about is when some ordinary schmo gets something that maybe we didn't get?
You belong to a toxic political party. It's all anger and grievance. "Fuking losers". Ok Mr MAGA.
Yeah, just go away and stfu seems to be the touting line when shown they're wrong.
I am against the payoff. But I can guarantee in 10 years your nephew will be better off financially than all the college dropouts who just got 10,000.
For most people opposed to this, it's not so much about somebody getting something that they didn't get,.. It's more about also having to pay for it.
Fuk your imaginary nephew. Tell him I said that.
He is a good kid so yes, he will be. His sister just so happens to be one of those. The tensions are real with them right now. My mother called me last night to inform me of the drama
I’m sure he will be hurt that some loser in the internet that can’t afford his college debt told him to fuk off
