Supreme Court strikes down Biden student loan forgiveness

[repete]

I suggested reasonable measures to be passed by congress to reduce the cost of college and cap interest on loans. And yes, sympathy for many of the borrowers.

I can and in a way do feel sorry for some of the borrowers, but as an adult they signed on the dotted line. With that out of the way, do you really want the Gov to make more laws and regulations concerning college tuition? It seems if you look back tuition didn't spike until the Gov. decided to 'help' students get loans. I never went but I seem to remember my sister applying to the local bank for a school loan (??) and being asked about her course of study. Now it seems a person can go $100,000 in debt studying a useless subject and never even get a degree, thanks to the governments 'help'. Personally, I think the gov. needs to butt out!

 

[Dr. Evil]

BREAKING NEWS: Supreme Court Strikes Down Student Loan Forgiveness​

It is not over folks ....

It's never over.

 

[pjzwtl]

A financial advisor was on the radio and claimed that 1/3 of the folks owing on the loans cannot pay anything on their loans

Tough finding good work with a gender studies degree

 

[livingston]

 

[spat]

Is receiving Medicare/Medicaid stealing money from taxpayers? How about PPP loans? How about all the money that will was “stolen” from taxpayers during the useless search for the OceanGate sub?

You miss my original point completely. I didn’t say it should have gone through, I was only saying we should have some sympathy for a lot of these borrowers. Seems like that’s something that is in short supply around here. Forgive me if I don’t have enough hate in my heart for this forum.

I have sympathy for the borrowers.

I think many are victims of a predatory lending scheme created by academia.

But, the taxpayers didn't bail out Bernie madhoff's victims, and they shouldn't bail out these guys.

Maybe we *should* let them all sue the universities who conned them into paying $200k for a degree in grievance studies though.

 

[Acer-m14]

Tough finding good work with a gender studies degree

500K in debt .. .. and there is only 2 genders to study ..


LMAO

 

[Acer-m14]

the Witch in on it ...

Gov. Kathy Hochul, NY public universities vow push for diversity despite Supreme Court ruling

Gov. Kathy Hochul and New York educators defiantly vowed Thursday to continue efforts to boost minority access to the state’s colleges and universities.

nypost.com

 

[livingston]

the Witch in on it ...

Gov. Kathy Hochul, NY public universities vow push for diversity despite Supreme Court ruling

Gov. Kathy Hochul and New York educators defiantly vowed Thursday to continue efforts to boost minority access to the state’s colleges and universities.

nypost.com

Biden 'buying votes' with student loan forgiveness​

The same with Hochul

 

[Dr. Evil]

the Witch in on it ...

Gov. Kathy Hochul, NY public universities vow push for diversity despite Supreme Court ruling

Gov. Kathy Hochul and New York educators defiantly vowed Thursday to continue efforts to boost minority access to the state’s colleges and universities.

nypost.com

 

[Acer-m14]

"“Diversity is an important part of who we are,” Hochul said. “We want to make sure that New York is a place that celebrates diversity and inclusion.”"

unless your a gun owner ..

 

[ManualF150]

"“Diversity is an important part of who we are,” Hochul said. “We want to make sure that New York is a place that celebrates diversity and inclusion.”"

unless your a gun owner ..

Bingo!

 

[Acer-m14]

if my memory is working ..

didn't FUAC say the same thing .. if your this and that your not welcome in NY

lol

 

[JunkBoxFull]

I`ve paid back every loan i`ve ever signed for. And its a hell of alot more money i paid back than what these kids are crying about.

WHERE`S MY EDUCATION REPERATIONS.... I WANT MY MONEY NOW!!!

 

[holdover]

Biden was going to screw the banks and help the poor. Yeah, and Once upon a time........

 

[Acer-m14]

I`ve paid back every loan i`ve ever signed for. And its a hell of alot more money i paid back than what these kids are crying about.

WHERE`S MY EDUCATION REPERATIONS.... I WANT MY MONEY NOW!!!

back in the days i took out a 2K student loan .. didn't need the loan for the actual class lol

needed it to fix the car to get to collage class .. 2 week Christmas vacation from college classes ..

so off to rebuild the 318 motor in my duster .... froze my ass off rebuilding the motor ...

then trying to make the payments .. got behind a bit ..

then mom got involved ..

took 3 months to get a fucking number to pay it off ..

then i paid mom back ..

 

[spat]

"“Diversity is an important part of who we are,” Hochul said. “We want to make sure that New York is a place that celebrates diversity and inclusion.”"

unless your a gun owner ..

The left doesn't want real diversity.

What they want is horde of conformist leftist drones that happen to come in multiple colors.

They want superficial diversity only, but rigid ideological conformity.

The only diversity that matters is the ideological kind. Skin color just doesn't matter much in the real world, so diversity of it has no value.

 

[CaseHardened]

Is receiving Medicare/Medicaid stealing money from taxpayers? How about PPP loans? How about all the money that will was “stolen” from taxpayers during the useless search for the OceanGate sub?

You miss my original point completely. I didn’t say it should have gone through, I was only saying we should have some sympathy for a lot of these borrowers. Seems like that’s something that is in short supply around here. Forgive me if I don’t have enough hate in my heart for this forum.

I am taking your opinion on this seriously. There is some validiity to it.

I will compare the Student Borrowers to Time Share Owners.

The majority were "sold" a "Pig in the Poke".

And dig this:

JOE BIDEN IS RESPONSIBLE FOR THE BAN ON DISCHARGING STUDENT LOANS VIA BANKRUPTCY

"The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was meant, on paper, to prevent people from abusing Chapter 7 bankruptcy. It accomplished that through means testing, making it harder for people to declare Chapter 7 bankruptcy versus Chapter 13. If a person's income exceeds a certain threshold, they're ineligible for declaring Chapter 7. The bill also required people to complete a credit counseling course no more than 180 days before they declare bankruptcy. It also limits the kinds of debt a person can discharge through bankruptcy: If they use a credit card to spend too much money on "luxury goods" or withdraw too much in cash advances, that credit line can't be erased. And, gallingly, the bill made it completely impossible to discharge student loan debt. It may very well be the single piece of legislation most responsible for putting the U.S. in the current student debt crisis."

And how about those 28% and higher Credit Card Rates ?

Delaware Joe's work.

Joe Biden's House of Cards

 

[CaseHardened]

The left doesn't want real diversity.

What they want is horde of conformist leftist drones that happen to come in multiple colors.

They want superficial diversity only, but rigid ideological conformity.

The only diversity that matters is the ideological kind. Skin color just doesn't matter much in the real world, so diversity of it has no value.

Ask Candice Owens or Judge Clarence Thomas (or even Kanye West) about how much The Liberal loves successful blacks that dare to disagree with the Communist Agenda.

 

[Arjuna]

NY Democrat complains about her student debt after SCOTUS ruling, gets slammed for million dollar home

 

[MikeM]

While my son would have benefited I still think this was the correct decision. I agree with what has been said here about the inequity of the plan yet one other aspect hasn't been mentioned. The forgiveness was only for federal loans so anyone taking loans out from banks such as Discover or College Street to would have been out of luck. In the future more and more kids would take federal loans hoping forgiveness would happen again. Driving out private loans with better terms and making the feds even larger.

I have clients that are on social security still paying off loans. Mostly teachers who went back for a masters. They just keep refinancing them.

As an aside, anyone still paying their original loans post graduation should look into refinancing. By son cut his rate by more than half and got to pick his term. As long as there is no prepayment penalty pick a long term so that one month you need 4 tires, your minimum payment is less. He picked 10 years and now, 2.5 years of payments, he paid half of the balance. This has been a public service announcement for Earnest loans. Lol

 

[rushmore]

I am taking your opinion on this seriously. There is some validiity to it.

I will compare the Student Borrowers to Time Share Owners.

The majority were "sold" a "Pig in the Poke".

And dig this:

JOE BIDEN IS RESPONSIBLE FOR THE BAN ON DISCHARGING STUDENT LOANS VIA BANKRUPTCY

"The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was meant, on paper, to prevent people from abusing Chapter 7 bankruptcy. It accomplished that through means testing, making it harder for people to declare Chapter 7 bankruptcy versus Chapter 13. If a person's income exceeds a certain threshold, they're ineligible for declaring Chapter 7. The bill also required people to complete a credit counseling course no more than 180 days before they declare bankruptcy. It also limits the kinds of debt a person can discharge through bankruptcy: If they use a credit card to spend too much money on "luxury goods" or withdraw too much in cash advances, that credit line can't be erased. And, gallingly, the bill made it completely impossible to discharge student loan debt. It may very well be the single piece of legislation most responsible for putting the U.S. in the current student debt crisis."

And how about those 28% and higher Credit Card Rates ?

Delaware Joe's work.

Joe Biden's House of Cards

Joe Biden being responsible for the fact that student loans cannot be discharged is another point that I should have brought up in my post, I appreciate you bringing it up.

Something that can and should be reversed if he wants to help the borrowers.

 

[CaseHardened]

Joe Biden being responsible for the fact that student loans cannot be discharged is another point that I should have brought up in my post, I appreciate you bringing it up.

Something that can and should be reversed if he wants to help the borrowers.

I am 100% in for letting Students go bankrupt under the current laws, just not some new easy-peasy variation the Communists will certainly invent.

 

[SonOfSun]

I can and in a way do feel sorry for some of the borrowers, but as an adult they signed on the dotted line. With that out of the way, do you really want the Gov to make more laws and regulations concerning college tuition? It seems if you look back tuition didn't spike until the Gov. decided to 'help' students get loans. I never went but I seem to remember my sister applying to the local bank for a school loan (??) and being asked about her course of study. Now it seems a person can go $100,000 in debt studying a useless subject and never even get a degree, thanks to the governments 'help'. Personally, I think the gov. needs to butt out!

Actually the reason you can get 100k in debt for a worthless degree was predatory banking changes. College used to be more affordable... then the banking industry bribed.... errr.. I mean lobbied for changes. Student loans were dischargeable via bankruptcy. That changed.

At first glance that sort of makes sense. You can't repossess knowledge someone has in their head like you can reposses a vehicle to help cover the obligation if the debt goes unpaid. However what this did is enable risk free lending for those banks since the loan is now not dischargeable. Banks used to ask about your major of study, etc. They had skin in the game - if your new profession didn't have a good economic outlook they might not get their money back. With the chane to nondischargable loans they don't care. The minimum payments in many cases are less than the interest charges so as you pay your balance owed actually goes up. The bank is perfectly fine not getting the loan paid off, they will just suck off your wages for your entire life then claim against your estate value when you die. It's actually more profitable for them that way... you not fully paying off your loan is good for them, it gives them more monetary extraction via interest and increasing balances.

On top of that, this also drove up tuition prices because now "anyone" can go to school. Doesn't matter how smart you are or what field of study you want to pursue. Colleges make money by having students pay tuition. Banks make money by lending tuition dollars to anyone with a pulse. This drives up demand which drives up prices.

 

[Rocpo]

NY Democrat complains about her student debt after SCOTUS ruling, gets slammed for million dollar home

Doesn't George soros have a house in Bedford?

 

[spat]

Actually the reason you can get 100k in debt for a worthless degree was predatory banking changes. College used to be more affordable... then the banking industry bribed.... errr.. I mean lobbied for changes. Student loans were dischargeable via bankruptcy. That changed.

At first glance that sort of makes sense. You can't repossess knowledge someone has in their head like you can reposses a vehicle to help cover the obligation if the debt goes unpaid. However what this did is enable risk free lending for those banks since the loan is now not dischargeable. Banks used to ask about your major of study, etc. They had skin in the game - if your new profession didn't have a good economic outlook they might not get their money back. With the chane to nondischargable loans they don't care. The minimum payments in many cases are less than the interest charges so as you pay your balance owed actually goes up. The bank is perfectly fine not getting the loan paid off, they will just suck off your wages for your entire life then claim against your estate value when you die. It's actually more profitable for them that way... you not fully paying off your loan is good for them, it gives them more monetary extraction via interest and increasing balances.

On top of that, this also drove up tuition prices because now "anyone" can go to school. Doesn't matter how smart you are or what field of study you want to pursue. Colleges make money by having students pay tuition. Banks make money by lending tuition dollars to anyone with a pulse. This drives up demand which drives up prices.

The solution is to put things back on the colleges.

They are the ones in a position to determine who will be able to make use of what degree.

They are also the ones that are really taking advantage of the kids. The banks are just accomplices.

Let the kids with the $200k worthless degree sue the colleges (with punitive damages) and you'll see the prices of the degrees drop back where they belong. You'll see the fundamentally worthless degrees disappear altogether.

 

[Grimscale]

When the .gov prevented people from declaring their student loans on a bankruptcy I watched the cost of "higher education" rise faster than gas prices following a fraudulent election.
Declare that those high loans will then be paid off by .gov and you'll see the cost of "higher education" skyrocket faster than Dogecoin in a meme war.

 

[ManualF150]

Colleges, especially state run colleges are so corrupt it's insane. The waste and what they are allowed to get away with is unfathomable and sickening. I've got a few friends that work at colleges, and man the stories I've heard would many anyone puke in regards to the money that is wasted. No one bats an eye either!

Look at the salaries of some of these administrators and what not. I was just looking on Open Book NY Salaries (New York State Employees) and who needs to be paid $750k to run a college system? How can someone get paid more than the president of the USA?

On top of that, look at the salary of the dude that is vice president of Upstate Universal Hospital -- Almost $1 million? That is our tax dollars folks! We let that happen!

 

[MikeM]

The solution is to put things back on the colleges.

They are the ones in a position to determine who will be able to make use of what degree.

They are also the ones that are really taking advantage of the kids. The banks are just accomplices.

Let the kids with the $200k worthless degree sue the colleges (with punitive damages) and you'll see the prices of the degrees drop back where they belong. You'll see the fundamentally worthless degrees disappear altogether.

No way. Student chose those worthless degrees. Colleges offer a product for sale. While I agree tuition is too high, no one forced the kids to study gender dystopian theory of orangatangs.

 

[spat]

No way. Student chose those worthless degrees. Colleges offer a product for sale. While I agree tuition is too high, no one forced the kids to study gender dystopian theory of orangatangs.

The colleges are engaging in fraud.

They are implicitly telling the kids that the degree will lead to better employment.

They have engaged in a lot of very very unethical behavior to create the current situation so that they can exploit these kids.

 

[rushmore]

The colleges are engaging in fraud.

They are implicitly telling the kids that the degree will lead to better employment.

They have engaged in a lot of very very unethical behavior to create the current situation so that they can exploit these kids.

It’s not just the colleges themselves, in many cases it’s well meaning but misinformed parents. One of my sons friends didn’t want to go to college and his parents said it was college or he’d be kicked out and would “end up a ditch digger”. I’ve heard similar from other parents I know.

The issue is that a high school diploma doesn’t mean as much in this country as it used to. My parents generation didn’t need a college diploma to provide for a family but nowadays unless you go into a trade, you do.