Jump to content

The White House is zeroing in on its student debt action.

Jason

By Jason
in The Political Re-Education Camp

 Share

Recommended Posts

Guest

Guest

Posted
Posted

I’m glad Furman is bringing up worthwhile issues with the plan. There certainly are unintended consequences of what the Biden administration has proposed here, and it would be nice if he is able somehow to line up congress to help address those problems.

Link to comment
Share on other sites
Commissar SFLUFAN

Commissar SFLUFAN

Posted
Posted
9 minutes ago, sblfilms said:

I’m glad Furman is bringing up worthwhile issues with the plan. There certainly are unintended consequences of what the Biden administration has proposed here, and it would be nice if he is able somehow to line up congress to help address those problems.

 

The immediate outcome musy necessarily be a cap on the amount of debt that can be accumulated for education, whether public or private.

  • True 1
Link to comment
Share on other sites
Commissar SFLUFAN

Commissar SFLUFAN

Posted
Posted

Quite frankly, if this is going to throw kindling on the inflationary fire, then it might as well be done now when that conflagration is already raging and the overall effect of some extra fuel will be relatively unnoticeable.

 

Maybe the Fed raises the prime rate by an extra 25 to 50 basis points over what they were already planning to do anyway.  

 

To which I say  ¯\_(ツ)_/¯

  • Halal 2
Link to comment
Share on other sites
b_m_b_m_b_m

b_m_b_m_b_m

Posted
Posted

95% of pell grant recipients (I.e. those who qualify for the 20k forgiveness) come from families that make less than $60k, and a full 51% come from families who make $20k or less. 
 

the reason Biden uses his examples and not the bullshit one from Furman is because Bidens are far more likely to happen than the other. Two people both from families in the bottom ~40th percentile (or lower!) for income both getting married and then both getting jobs where their combined income puts them in the top ~7the percentile for household income is very unlikely. 
 

yeah they should be taxed more, but no matter what the cutoff is there’s going to be bitching about it from privileged economists. If the cutoff was $75k a piece you’d hear the same thing about a married couple making $149k

  • Halal 1
Link to comment
Share on other sites
Guest

Guest

Posted
Posted
12 minutes ago, GeneticBlueprint said:

 

Yeah like this one

 

 


I have read this about 10 times and still can’t tell if this is a genuine take or mockery

Link to comment
Share on other sites
SuperSpreader

SuperSpreader

Posted
Posted

I think there's some real misconceptions in this thread. I received Pell grants and was poor AF. Student loans kept me broke through my 20s and 30s, I didn't have kids because I couldn't make ends meet. I make 190k now plus bonuses, the point of going to school was to make more money eventually, but it did come at a massive cost. Am I asking people to pity me? Not really, but the idea that all people who are making large sums weren't negatively affected by this debt are false. I'm happy people are getting relief, I wish I could have gotten some in my 20s or 30s and I still owe 50k.

  • Halal 6
Link to comment
Share on other sites
Comet

Comet

Posted
Posted
16 hours ago, Jason said:

 

Does the executive branch need authority from Congress to start putting caps on student loans? Colleges and universities have been massively upping tuition because the loan amounts are completely unlimited. If the feds put a maximum on how much student loans per yer people could get the schools would have a ton of pressure to rein in tuition to match the new loan limits.

I'm not sure of the legality of this, but if Biden can do it then it should be done. Otherwise, I go back to saying this is good progress given what is possible within the administration's reach. 

Link to comment
Share on other sites
Guest

Guest

Posted
Posted

PPP was one of the most poorly designed government programs I've ever seen. It was all scouts honor on both what you needed and what was forgiven. I would be surprised if even half of the PPP money was used in the ways intended by congress when they passed it.

 

And lemme tell you a little secret about the Save Our Stages/Shuttered Venue Operator Grant: many small venues and cinemas made *more* via the grant in net profit than had they been open. The reason why is that most small venues and cinemas own their own buildings, but in a separate entity. So they were able to use the grant money to cover lease expenses that they hadn't been paying...to themselves. And yeah, pretty much no oversight on that. I know one operator that in a typical year would net around $150k, but the SVOG awards were based on gross revenue from 2019 (a huge year for the business). So their costs in 2020 went to nearly zero minus things like property taxes, but received about $1 million in SVOG money.

Since our indoor and one of our high performing drive ins are actually under the same entity, our 2020 numbers for that business didn't decrease enough to be SVOG eligible and get in on that gravy train :lol:

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...