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Discussion in 'The Mainboard' started by Truman, Nov 17, 2020.
I did 20 years ago when they weren't that bad, and I'm also taking classes so I will again.
I don’t have student loans and I hope they do this.
Not to mention they are both stimuli.
Yes undergrad and grad school, I’m fucked
One affects him more than the other
I actually think dblplay1212 would personally make out pretty well with student loan forgiveness. That would increase his market tremendously. Student loan payments are more likely to divert into mortgages than they are into savings, IMO.
Yeah, I'm a pretty conflicted person when it comes to this particular situation. I have over $40K in student loan debt that is currently financed out over the next 20 years. My family situation (dad passed, mom was broke, family never had money, no college savings for me) is basically what led to me having to borrow the money to go to college (that and I was a pretty irresponsible college kid who took an extra 2.5 years to graduate). So some of the debt is my own fault. While I'm happy with the degree I have and wouldn't trade it for anything, I also see it as a lot of wasted money that, in some ways, didn't and doesn't do anything for me.
On one hand, I'd love to have that $400/mo back in my bank account to invest or set aside for retirement because that's the one thing I've neglected because of student loans. On the other hand, I know I took the loans out (however beguiling the system is), and I see it as my responsibility to repay them. And I don't personally think it's fair to have them forgiven and then stuck on someone else (or a large group of people) to repay them through taxes, which is what I think the government would do to what is forgiven. I totally get the argument for forgiveness. I just haven't made it past the part where someone else has to bear the responsibility of my decisions (some of the poor decisions) so that I can put more money in my pocket.
I graduated with about $50k from undergrad. My parents were very helpful in showing me the pros and cons of graduating with $50k of debt and going to my dream school, or going to a school where I had a big scholarship and graduating with none. I think it worked out, but frankly any more than that level of debt from undergrad would have been tough, especially after being in the "real world" a while and seeing nobody cares where you went to school after a few years.
My cousin took out about $50k of loans to go to a public school in Florida though, thinking she wanted to be a teacher. They have some rule in Florida where they forgive students loans after 10 years as a teacher, so she didn't even think about the loans, thinking they'd be forgiven in 10 years. Two years in and she hates teaching and her life, but won't/can't leave because she doesn't know what she can do with an education degree where she can actually pay off those loans without getting them forgiven. Student loans suck.
It’s 9pm. Would you rather have a key bump now or a free bag in 4-5 hrs?
Don't you also pay taxes?
Yeah, I do. So we'd all be paying off everyone's student debt together.
My wife and I's loans are paid off and I'm in favor of loan forgiveness if there is also some sort of consideration given to those who have already paid their loans off. We all got screwed by the same predatory system. Some of us were just able to scrape through bruised and battered instead of broken.
IMO forgive a certain amount of debt for those still paying, give some sort of tax break to those who paid their loan off. Win/Win/Win
Right. Your tax dollars certainly go to the exclusive benefit of others.
The only one that affects me is debt forgiveness, actually, and it would be a positive for me. I don't qualify for the stimulus.
But what about all the people who never had, don't have, and/or never will have student loan debt? Do they share in this payoff as well?
you understand the mechanism to make these things happen are completely different. One has to be done through the senate and the other is done by a simple stroke of a pen.
Yes, I understand.
Honestly, they should forgive loans even if the only reason is to stop we millenials from being so smug about how hard we had it. The Greatest Generation, indeed.
You don’t know that
For one, those people have the benefit of not having student loans. And, they got a tax benefit on the interest while paying them. Plus, people who never had them will almost certainly have some benefit from taxpayers that others do not. The point is that it's not zero-sum.
I literally had a distant relative die with few other family members and used that money to pay them off. Dream scenario. Would like for everyone to experience the same thing without a relative dying.
I'd just like my own taxes to go into things like student debt forgiveness and free healthcare instead of Lockheed executives' fifth vacation home. The "who will pay for it/it's my responsibility" conversation is silly given the context.
I didn't qualify for the first one and it's highly unlikely I'd qualify for the next round. I suppose they could make the cap 4x higher but I doubt it. Would be nice though.
Please make them go away Joe!!
Never had student loans. I would have had probably $80k if I chose to go Syracuse but FSU gave me a full academic ride so it was an easy decision.
I checked last week and I have $248 left. Needless to say, Joe Biden helping everyone who was put into this predicament by a predatory and exploitive system would make me furious and turn me into a reactionary. If something won't help me personally it shouldn't be done.
My wife is a hygienist, so I’m a little exposed to your field. The oddest part is the tradition that dentists, new to their profession, are more or less expected to successfully run a small business.
so your complaint is then nonsensical
I guess the way I think about it is
1) there are much more expensive things that won’t have a positive impact on American lives (such as spending billions on updating the operating systems on Nothrup Grumman drones to bomb afghani children
2) it will be a net positive on the economy so don’t think of it as a tax burden
3) historically we have been more prosperous as a country when education has been less burdensome and we should use it to our advantage
Yes. That’s how taxes (allegedly!) work. They take money from you and then spend it on a bunch of shit you don’t need.
I certainly don’t need to drop bombs from drones on the Yemeni people or hire more cops to harass people, but my tax dollars (theoretically!) paid for it. I’d way rather “pay” for an educated populace.
This is all nonsensical though, because the money we’re discussing is not fucking real, just like the 3.5 trillion that was conjured up this spring.
I don't have student loans & my wife's are gone so fuck everyone else.
I'm working on speaking Republican.. How am I doing?
As in the forgiveness chunk considered as income? I don’t mind saving up for paying taxes on one year, better than paying off (according to a calculator the dep of education or some shit provided) the forgiven ~57k.
That's my understanding, yes. Had an acquaintance in grad school who did the math on paying the minimum plus interest out to the 25 year term and the potential income tax burden was close to his original loan amount. More than $57k but just something to look into maybe.
My only issue with student loan relief is that it doesn't fix the problem of why it's gotten so expensive.
Antibiotics aren't going to save the patient if you don't close up the wound.
and now its basically never the case unless you have a very strong business background. students graduating from dental school know like 5% of dentistry (especially with COVID), so i cant even imagine the mess a new graduate running their own practice would look like. not a chance in hell i would sign up to be a patient at one of those offices
nearly all of my classmates are either doing a one-year extra bit of advanced schooling (clinic shutdowns mean graduating with the experience of a newborn baby), doing a residency, working for their family, or getting chewed up by DSOs
its fucked - graduating with $400-500k in debt, the clinical experience equivalent to like 2 weeks in private practice, and getting a train run on you by aspen dental (i.e. forcing you to do more aggressive/reckless treatment than you should) until youre secure enough to risk leaving. eat arbys.
I got a full ride and still needed loans. Guess I should've had richer parents to be responsible
Well my other thought is if this Biden executive order thing happens. If so, that reduces my burden and therefore the possible hit of a single year tax forgiveness. And if that e.o. is not now, it will be sooner or later, and I think my stint of 25 years is sometime around 2040.
I bought a replica batmobile with my students loans. Should I be forgiven, checkmate lib.
Only if you used it for 10 years of public service. Otherwise you're just a creepy asshole in a cape.
the degree to which americans tie themselves in knots about who is going to pay for it, the selfishness of who is getting it vs not (to be clear, we ONLY care about this when benefits are being given to normal people. don't give two shits when it's wealthy people or corps), and fall over backwards about other things we need to do first (that are difficult if not impossible to do) is wild
the rugged individualism and lack of shared community beliefs in this country as seemingly the baseline is what will doom us all more than maybe anything else. it seems like the proportions have changed, but the divide is starker than ever.
already paid mine off, wife has a ton that wouldn't be eligible for any forgiveness, zero out all public debt thank you
Is this why so many dentist kill themselves?
I did not ...parents paid for it all.
Married into some undergrad loans for wife, but we have them paid off. Wife and I paid for her graduate school as she went, so we didn't add any on that end.
Need option 5 in the poll:
Yes - Ex-wife had student loans and so I was involved with helping pay them off for the years we were married, but she took her remaining student loan debt with her in the divorce, so I no longer have any student loan debt
Undergrad, no. Grad School, yes.
I used bonuses from my employer, sold my car, and even used the money I got when my grandmother passed away (under $5K) to pay it all down sooner. It sucked not using that money to do something cool like go on trips or whatnot, but I've been 100% debt-free (minus a house payment) for over 5 years now, and that shit is pretty liberating. I would likely be about 90% of the way through repayment if I hadn't done that.
Yup. I even messaged him about this the other day. Once I paid mine off, I started looking into buying a home and know many of my friends that would/have done the same.
You got scammed by a system forced upon you and told you that this was the only way you could succeed in life... And feel responsible to those who scammed you?
Yea student loans are crippling to people trying to buy a new house. When in deferment we have to calculate .5% to 1% as a payment. So 100k student loan is $500-$1000 in the budget and that often blows it. Getting rid of them would make a lot more people qualified to buy a house.