Supreme Court blocks student loan forgiveness

GOOD!

If I had to pay my student loan debt, then EVERYONE should have to pay theirs.

It's just not fair to wipe out the debt of people who just happened to be born after me.

That makes no sense.

You make the loan, you pay the bill.

PERIOD.

Not rogue. Doing their overlords bidding, to the letter.

I paid mine off 30 years ago.

You bitches who want to politicize everything and turn it into a cage-match are fucking TIRESOME.

But what about Reparations for all our sable friends?

Are you referring to the SCOTUS members who perjured themselves during their confirmation hearings?

They knew it would never pass constitutional muster. It was a bribe to young people and Biden just wanted the votes.

Zina Bash, a member of Supreme Court nominee Brett Kavanaugh‘s team, came under fire for holding her thumb and forefinger together in a circle.

A gesture that was once universally understood to mean “OK,” has been reappropriated by pranksters as a nod to white supremacy and the policies of President Donald Trump.

R3Not all of us have the stamina for a cocaine fueled life of a student by day/stripper by night lifestyle. And you know where you can go if you want to talk to William F. Buckley Jr.,R4

[quote] holding her thumb and forefinger together in a circle

R8 Shocking! This woman has committed Finger-Crime.

R1 f uck off asshole. Paid off the loans I took out too but I could care less if somebody gets or everybody for that matter has theirs forgiven. You're a piece of s***.

[quote] R1 f uck off asshole. Paid off the loans I took out too but I could care less if somebody gets or everybody for that matter has theirs forgiven. You're a piece of s***.

Yes, asking for fairness across the board, is such a horrible thing.

I'm worse than Hitler, for suggesting that since I paid off all my loans, then other should have to, as well.

I'm an absolute monster!

R11: No you fuck off asshole! Right on R1. Why should people who didn't go to college or already paid off their debt have to pay for some spoiled brat's degree in gender studies.

That damn constitution keeps getting in the way! Imagine, knowingly taking out a personal loan and being expected to pay it back. The outrage.

What next, am I expected to pay my credit card debt myself too?!

Paying debts. Oh you sweet little fool r14.

If this isn't settled until the summer, the payment pause will continue, which would be beneficial to borrowers.

[quote] —Trump, and really a lot of rich fucks

Yes, we all realize that Trump and his ilk don't pay back their debts.

But the majority of us in the lower-middle, middle, and upper-middle class pay our debts. And have paid our debts.

So why all of a sudden are these younger Americans NOT expected to pay off their student loans? Especially when we had to.

The argument that Trump and rich people don't pay their debts, completely discounts the fact that the majority of us DO. And so should you.

You fucking deadbeat.

Because r17, at some point the creditor starts to have a problem. When you have built a system around massive and ridiculous debt, sometimes it is actually the creditor and not the debtor who has to disgorge. I know this is a shock and a trauma to some, but sometimes the debt itself is so massive that it is the problem, not the individual moral failings of the debtor. Especially if that debtor was basically given a choice of get into stupid massive debt or have pretty much no chance at anything but a low level job that will probably be eliminated in a few years anyway.

And I actually don't have any student loan debt myself, haven't in many years. And I know that is another massive shock, trauma, horror to cunts and wingnuts such as yourself. Caring about something that doesn't affect you personally? Yes, I know, WHATTT????

R17 👍

I hope people didn't make major financial decisions based on the trust that this would happen. Like buy a house?

R18 you can blather on ad nauseum, and make excuses for why you should have to pay your bills.

But the bottom line is simple. SO simple, that even a first grader can understand it:

You take out a loan, you pay it back.

There is no reason in the world that will excuse this simple fact.

R21 it really isn't that clear-cut but you're too retarded to even begin to comprehend that.

Oh no, it is never that simple r21. It is a whole world of maybes when it comes to debt and finance and the weird little world we have created in the 21st century economy.

[quote] it really isn't that clear-cut

[quote] Oh no, it is never that simple

It couldn't be more simple. It couldn't be more clear cut.

But to a scheister and a fraud, naturally, there are always ways that you can try to talk your way out of it.

Lucky for me, my bullshit meter can detect a bullshitter and a fraud, coming from a mile away.

And that's exactly what you are, at R22 and R23.

Go peddle your wares somewhere else. Because I'm not buying it.

You'll do anything to get out of your responsibilities.

Genuinely curious: how are things like PPP stimulus considered Constitutional, whereas a loan offered under the purview of the US Department of Education cannot be altered?

For what it's worth, I've been on Income Based Repayment for my non-government loans. I think a lot of people are confused that the only amnesty being offered is for loans serviced through the government.

You don't have to buy it r24. The fact is with debt often comes negotiation and renegotiation and all sorts of little tricks and tradeoffs. Usually these are reserved for the wealthy, in other words the people best able to pay back loans but who just don't feel like doing it. Sometimes, it just makes sense to write off a part of the debt for the greater good, even the greater good of the creditor.

I am curious r25, is your loan a purely private loan from a bank? Was it guaranteed by the Feds? How old is it?

So now, maga is pretending the "ok" symbol is nothing.

[quote] the "ok" symbol

It means OK.

good; fuck the grifters and the grifter in chief

From a strategic point of view, it's an incredibly stupid move by the Republicans to piss off young voters further. Whether you approve or disapprove student loan forgiveness is besides the point, cock blocking young voters will only motivate them to vote in favor of the Democratic Party.

And really, student loan forgiveness is a drop in the ocean compared to what the welfare queens, the 1%, are getting from tax breaks from the Republican Party. The young voters will treat it as much of an issue aimed against them as abortion. And that is going to bite the Republicans in the ass. And I am all for it. Keep going, Republicans.

R26, it seems like you might have a profound unawareness that student loans in the USA are a mix between those that are federally backed & offered by the executive branch of our government, in addition to private loans (from a bank) that a student or their parents will take out. Private loans are not affected by this, only federally serviced loans i.e. a Perkins loan.

I graduated in 2011 for your information.

[Bold] You can thank the CUNTS who were sooooooo fucking PURE they could NEVER vote for HER! Their fault!

I commented in another thread.

I haven't read the case and it's been a while since I read up on student loans. But aren't they a creation of congress? If they are then doesn't it have to be congress that takes this action? How can the executive branch do this? I don't know if just being the administrator of the loan programs gives them the power to forgive them. Maybe it does and maybe it doesn't. I can see them "forgiving" or ruling some loans as uncollectable like the IRS can do with some IRS debt, but a sweeping forgiveness may be regarded legally as the role of legislation, i.e., the program's creators.

Also some people are complaining that student debt holders should be treated like other debt holders. I agree but they aren't. For instance, they can't get this debt discharged in bankruptcy and they can't deduct the interest like you can a mortgage or take the entire loan off as a deduction like you can with many business loans. This is very much like a business loan and could easily be treated the same.

If I had known that they were going to change the loans so that the interest was no longer tax deductible I would have thought twice about taking out loans.

There are private lending companies and banks that provide federally guaranteed loans.

Does anyone have any experience with the loan forgiveness program where you work as a teacher or public defender for a certain amount of time? I'm considering applying in the PD's office and was wondering if it was a hassle to get to get approved.

[quote]From a strategic point of view, it's an incredibly stupid move by the Republicans to piss off young voters further. Whether you approve or disapprove student loan forgiveness is besides the point, cock blocking young voters will only motivate them to vote in favor of the Democratic Party.

Logically, people who want the government to give them stuff would be voting Democratic already, so Republicans know they aren't losing anything, They also know their base is going to applaud having people pay back what they promised to.

Its appropriated by your kind to represent white power. It's an offense.

R34, I heard it is a hassle to meet the requirements but if this is a job you want anyway, I definitely would try for loan forgiveness.

Insane multiple poster upthread, as R33 and others have pointed out, there are multiple types of consumer and business loans that can be discharged, restructured, or otherwise not paid back that you don’t seem up in arms about. And let’s not forget other countries that don’t send families into crushing, lifelong debt for a university education. I actually think most people are fine to pay back their loans; it’s the interest rates that are crippling.

I notice that no one against the idea of loan forgiveness in the thread above has mentioned that Donald Trump has often reneged on repayment of loans - so much so that since 2000 no US-based bank has loaned any money to him, which is why he went crawling to Deutsche Bank. But actually, the bankruptcy laws are specially formulated to help out the wealthy when they don't want to repay loans, and the government forbade that option for student loans. I'm pretty sure that Sears will not be paying back its billions in loans, nor will most corporations. I repaid all of my college loans, but those were taken out at a time when my total loan burden for undergraduate and graduate school amounted to $10,000 (and these were prestigious schools). Now that many people graduate from their 4 year colleges with $100,000 in loans, it's easy to see that except for a very few who land outstanding jobs, they will be paying on those loans until their retirement - with a diminution of their life goals and their career advancement in many cases. There's lots of blame to go around - for instance, why is tuition inflation so rampant on college campuses? It's not as though they pay their faculty members 50 times what they were earning in 1975. Why do universities now pay all of their senior administrators $250,000 and up and still hire more and more administrators - who DO NOT TEACH? Why doesn't the government make needs testing a mandatory thing for state colleges at least, and create funds to pay the majority of tuition for the poor and lower classes? Attendance at universities is free in Europe - of course, a person has to demonstrate academic proficiency to be able to attend.

Well, Trump-branded companies or properties could file for Chapter 11 protection 4 times, why not struggling workers saddled with student loan? Some fat homos here are simply heartless.

Why should anyone have to go into serious debt to get an education and contribute to the economy? Many countries offer free or very low cost post secondary education.

I’m not a selfish little fuck that wants others to suffer because I did.

[quote] Logically, people who want the government to give them stuff would be voting Democratic already,

As usual, guys like r35 fuss about the little things like Dems giving out "free stuff" while he is completely silent on Republicans giving trillions of free money to the 1% and their corporations for decades. He must be really into trickle-down golden showers.

NO YOU FUCK OfF, R11. R1 is correct. You sign the loan, you pay the loan. What do you propose to throw accountability out the fucking window? Bullshit.

By the way, your grammar for a college grad is horrendous. It’s “couldn’t care less”, “couldn’t care less”, “couldn’t care less”. Asshole.

Rich people not paying back PPP loans: Fine.

Students not paying back their loans: Bad.

R40 If you can’t pay your debts, your education wasn’t worth the price of purchase. And defaulting on your debts raises the interest rate for everyone else seeking one. I’m not going to ask you what your HS GPA was, which college you chose vs what the alternatives were, how much your education cost, what your income has been since graduation, what you do spend money on (since you can’t afford your debts), how many hours a week you work, or what your discretionary spending rate is as a proportion of your monthly after tax income… because it’s non of my fucking business.

Your personal financial decisions are between you and the lending institution. I don’t get to weigh in on whether your field of study truly contributed to a net benefit for society, whether you work as much as I do (60+ hrs/week since I got my masters 11 years ago), wether you live above your means, whether you sacrifice as much as I do, spend time away from my 3 y/o and my husband to afford what I owe and save for retirement. Then after all that, I get the involuntary joy of paying for you, someone who says I owe him, because he shouldn’t have to make prudent financial decisions for himself.

And it’s not just me, but all the plumbers, electricians, truck drivers, nurses assistants, retail workers, [bold]everyone[/bold] else who did and [bold]didn’t[/bold] go to college have to sacrifice still more, for you.

Right Wing values: I ain't giving you money, bitch! (but I open wide for the 1% to shit in my mouth).

R40 completely misses the point of taking financial responsibility and being accountable for WILLFUL CHOICES THEY MADE. Fuck off. Pay up people, and stop whining.

Right Wing values: I ain't giving you money, bitch! (but I open wide for the 1% to shit in my mouth ... and PAY for the privilege).

Fixed.

The people who come to Datalounge and start screaming "FUCK YOU PAY YOUR LOANS FUCKHEAD FUCK YOU FUCK YOU ASSHOLE" are hilarious to me. What a thing to stroke out over.

[quote]That damn constitution keeps getting in the way! Imagine, knowingly taking out a personal loan and being expected to pay it back. The outrage.

Imaging if we really fallowed the constitution as written where only white wealthy landowner were allowed to vote.

Apartment dwellers are fucked.

Just at a very basic level, if the government gives out the loans, the government should be able to modify the loans, within reason. SCOTUS has decided that some forgiveness of loans is not reasonable, but it's a partisan political decision, not a Constitutional one.

WW r48. It's because they are all old cranky Boomers jealous someone else gets a benefit they didn't exploit first for a change. Stroke is the appropriate word for them.

R48 and R51 are just two examples of the deadbeats in question. Pay your fucking loans, dirtbags. Got a problem with that?

Loan forgiveness is just a quick fix but I am not against it. Interest rates on these loans are high and, as a poster mentioned above, you cannot discharge a student loan through bankruptcy as you can do with other types of debt. Universities also need to rein in costs, as tuition at many private colleges are $60K or more per year-- ridiculous, regardless of the student's major. And costs keep going up as long as there is money available to borrow, so they probably figure why bother capping costs?

Nice try R52, but I paid my loans off long ago as a Gen-X and I still agree with the younger people on this one. You your years of selfishness have seem to could your ability to process the reality of other people. But then as the most Selfish Gen, you probably never did in the first place. Let me enlighten you. The price of college outpaced the cost of living and real wages over the past 40 years. So even when adjusted for inflation, dollar for dollar it's still wildly more expensive to go to college today than back in the stone age. 8 to 10 times more expensive.

Biden created this phony scheme to get votes and we fell for it.

Biden must be a genius then, funny how the memes say he senile at the same time. That means Repugs have egg on their face for thinking he doesn't know what he's doing. All along he's been playing 4D chess.

Assuming the OP knows this by now, but this didn't block the student loan forgiveness entirely, it just postponed it by not removing the temporary stay put in place by the lower court.

Also let's not forget the many billions in pandemic loans that were forgiven - most of the people protesting this made full use of them and got their loans forgiven by the government.

Good!! We all had to pay it off so why should this fucking annoying generation of “poor me, I’m a them and I deserve everything but don’t want to work just be on Tik Tok” cunts get a free ride … again! ? Biden’s killing this country and I stupidly voted for him. Anyone but trump but this is a disaster. He’s senile, giving money away to everyone but the ones who need it and driving our economy into a third world country status! The environment and handing black people money for their ANCESTORS being slaves are his concerns? He sucks, Trump sucks, The Squad suck, Death Santis sucks and why isn’t Matt Gaetz in prison for Teen Sex Trafficking ????

Please explain to me how taxpayers foot the bill for this. What taxes go to fund the federal student loan program?

They don't want to work and they don't want to pay their bills and they want free money and they're all on drugs. Everything's a fucking mess.

#1: why not have all student loan debt dissolved after let's say 10 years after graduation?

#2: have a brother who when this argument came up said to me "oh, so if I can't pay my mortgage each month, the government should pay it"... Which is a stupid simplistic and wrong comparison and argument...

For R59

Why not remove the interest and have people pay the principle? Add a small processing fee?

Bottom line is that federal direct student loans are just that; funds that come from treasury thus by extension taxpayers along with other federal income such as fees and surcharges.

Just as when private sector issues debt there is an expectation that interest paid will cover associated costs and even provide a profit. If Biden cancels student loans there goes not only money out front door (original loan principal), but also all interest, fees and surcharges. This all must be accounted for somehow on federal books.

All accounting comes down to simple facts of debits and credits. Where there is one but not the other it can (and often does) lead to decline in revenue. There are of course ways of moving things about to cover said loses, and no doubt sooner or later democrats in Congress will find a way to "pay" for this scheme.

R61 Both of your statements are patently absurd regardless of how someone feels about the issue of student debt. But I’m glad you numbered them for clarity.

I hope it was self evident to you, college was not for you. Otherwise, now I’m expected to share the bill for a fool’s errand.

[quote] If you can’t pay your debts, your education wasn’t worth the price of purchase. And defaulting on your debts raises the interest rate for everyone else seeking one.

This is not the fault of the American tax payer. Why should WE have to foot the bill?

This is the fault of the Colleges and Universities, who are blood sucking money grubbers, over charging for the price of an education.

If you want your money back, then get it from the COLLEGES AND UNIVERSITIES.

DO NOT ask the American tax payer to fund your education.

We should not have to pay off your loans for you.

Either you do it yourself, or you demand that the colleges REDUCE THEIR PRICE.

Fucking idiots.

[quote] Just at a very basic level, if the government gives out the loans, the government should be able to modify the loans, within reason.

This is the issue though, isn't it? Just because the Executive Branch administers the program doesn't mean it can alter the legislation or the legislative intent. I don't have the answer but I think I understand the question.

Hopefully the court will require the Biden administration to communicate to all applicants that Biden never had the legal authority to give the money away and that the attempt was only done to influence the 2022 election. The applicants deserve to be told the truth.

r68, right wing SCOTUS can claim a lot of shit and only the right wing will believe it at this point. SCOTUS overplayed its hand by repealing Roe vs. Wade and leave abortion rights to the states. To the Liberals, all that matters is who is blocking student loan forgiveness while passionately approving tax breaks for the rich.

What is this thing you call student loans? In Denmark they pay us to go to college. Yes, you read that right, it's not just free, we actually get paid to seek higher education. Odd that America whines about it's youth culture degenerating and yet they sabotage the very thing that could effect change.

I can't be the only one sick and tired of this motherfucking cunt R1!

R44 No one had to sacrifice for me. Mine were paid. But as I’ve said I’m not a selfish fuck like you. Graduate degree in social work. The majority of my career was spent in service to severely emotionally disturbed children in hospital/residential settings or in service to people with developmentally disabilities. Thirty years.

However, I understand that many nations value an educated citizenry. If the US did so, we wouldn’t have all of the stupid and uneducated MAGA fucks. Go on believing that people need to go into serious debt to obtain an education and pretending the nation as a whole doesn’t benefit.

The plan was deeply flawed from the beginning because it thumbs it’s nose at traditional debt repayment and is rife with entitlement. It also doesn’t consider the institutions should be penalized and take a haircut from any debt owed. This kind of debt should not just be whisked away or hidden.

They need to hire a crew of finial experts skilled at instruments and design a more thoughtful debt repayment plan- that cannot balloon or be monetized- taken advantage of to the hilt by the already wealthy, or banks. It should be something you’d have to go the the social security office in person to officiate in person to avoid online scams as well. There would be components and considerations over the life of the loan for bouts of unemployment, that it works in tandem with a retirement plan, has repayment insurance with a early death to avoid family and dependents suffering, and acts like like an irrevocable trust that is completely bulletproof and enduring in case of bankruptcy.

They’ve already designed something similar with nursing homes.

To “forgive” debt is simply a cop out and a cheat that people quickly take advantage of- it also messes with all future generations of loan considerations.

Our NEW director of student loan forgiveness

I paid off my own school loans. Go pay your own loans off. I was against this the minute the millionaire spouse complained that he had to pay his student loans off instead of taxpayers. NOPE. Go pay off your own loans. Sorry your wasted your college money but that isn't taxpayers fault.

It's coming down to highlighting the hypocrisy of the Republicans where they are outraged over student loan forgiveness while shoveling billions of dollars in the1%, the ultimate welfare queens', pockets.

Every single poster who is angry at Dems handing out free stuff always refuses to acknowledge that it's nothing compared what the Republicans hand to the businesses and the uber rich. And then these posters act like they aren't paying for these handouts for the rich, only for the "free stuff" the Dems hand out.

Meh, wake me up when Billionaires who pay ZERO federal tax actually get called out for it to the same level of outrage. They still use all the infrastructure and social services like police and fire departments yet contribute nothing to the tax base. That means the rest of us have to pick up their slack. It's still the same pie weather you paid for that piece or not.

1/3 minimum, 1/2 maximum student forgiveness. This generation is drowning in debt and will end up in a lifelong downward spiral 🌀 if no help or forgiveness is given

In 30 years boomers and Xers who paid off their loans will be dying and costing a fortune in elder care. There won't be enough people running around to wipe their asses; millennials and Z ers won't have enough kids, because they were always in debt and couldn't afford it. Millennials will control the government, social security will be nearly depleted and politicians will run on making amends for students loans not being totally forgiven when they should have been 30 years earlier. Mark my words.

Absolutely right R79. The new generation won't be able to buy shit, look after their parents, or have kids.

So that'll basically contract the economy over the next few decades, and quite frankly it should. A booming economy and most people are too poor for Christmas whilst companies rake in millions.

Hope they enjoy squeezing blood from a stone because that's all they'll be getting now that people can't buy shit.

The notion that American taxpayers will actually be burdened is based on completely unfounded assumptions:

[quote] That is based on the assumption that policymakers would need to make up for the total tally of the forgiveness through tax increases, spending cuts, borrowing or a combination of those strategies.

R64's article makes the same point.

This idea that the federal budget is actually a zero sum game is ludicrous. Were your taxes raised for the Covid response? Were they raised each time a new amount of money was allocated to Ukraine?

There is no way of knowing if there will ever be an adjustment to the federal budget because of this plan or what it will be. Taking the cost of the plan and dividing it by the number of people in the country is simple-minded nonsense.

How about build 2 less Nuclear ☢️ Subs over the next 10 yrs?

r73 and r75, most people who have more than 10k in student loan debt (most Americans) will still have to make payments if this passes. The legislation will only cover up to certain amount depending on the type of aid you received. You are incorrect in both your comments about everyone getting loans "paid off".

This is why I dont come in these threads because most people have no idea what the fuck they are talking about when it comes to this topic. They just hear loan forgiveness and make comments, having no clue about major changes the government has made since the Obama years to federal student aid.

Biden didn’t want to do student loan forgiveness, he just wanted to votes. He knew that if it made it to the courts, it would not fly. Once it doesn’t pass, he will have more fodder to attack the court as conservative, but honestly, I would be surprised if this doesn’t end up being a 7-2 decision.

[quote] I would be surprised if this doesn’t end up being a 7-2 decision.

Based on what element of law?

OP is the type of troll that is ruining DL. He posts an inflammatory false statement and knows it is such. The loan payments were put on hold while the Court takes up the case. This is standard when a lower court had halted the payments.

Regardless there are very good reasons to believe the program is unconstitutional. Nancy Pelosi said so herself some time ago. Her view then was that only Congress had to power to forgive the loans. If the Court decides that it will not be an outrageous decision and it's likely several of the more liberal justices will vote with the majority.

Please stop falling for this shit.

The whole concept of interest for an education loan is ridiculous

R86. Of course Congress holds the purse strings, and definitely should. Biden knew that and I see this as kind of a protest on his part.

Because it's just a shitty situation all round when Congress can't get debt relief passed because of the stupid Senate. Yet that same Senate - specifically the Republicans - are more than happy to pass forgiveness for the PPT loans whilst they light their cigars on the bill providing paid sick leave for rail workers. Rail workers who are so desperately needed that Congress is having to force them to accept a deal through legislation to prevent a strike.

It just seems like a really, really shitty system right now. Fuck.

[R1]

The bulk of student loan debt is held by minority students, which is of course why the GOP is stroking out.

R90 54% of all student loan debt is held by white or Caucasian borrowers, so I’m not sure where you get your information. ‘Bulk’ typically refers to well over half absolute value, or at least 1 standard deviation above the mean, if you’re speaking proportionally.

The money would be better off spent fighting illiteracy in public schools.

I'm sure the rightwingers will be thrilled if that money was better spent on "the mental hospitals" they're suddenly in favor of whenever we get our newest weekly mass shooting. Or armed guards posted outside every K-12 classroom. Ah, what a brave new dystopia we live in.

Why would they be in favor of mental hospitals? It's their people who do all the mayhem and chaos, and they want these people to keep causing mayhem and chaos. This will be another "freedom" issue of government overreach for them.

I keep noticing that by reply 50, Dataloungers have lost all ability to continue a debate intelligently.

Look at r95 handling that broad brush. You go, gurl!

A second chance?

The cost of college, plus the interest on student loans, is much much much more expensive than it was in whatever decade you ancient old cunts were college students.

Biden is just gonna delay repayments forever everything get blocked. The next Republican president can restart them I suppose

Rogue ̶S̶C̶O̶T̶U̶S̶ 𝑒𝑥 𝐻𝑜𝑢𝑠𝑒 𝑚𝑎𝑗𝑜𝑟𝑖𝑡𝑦 𝑙𝑒𝑎𝑑𝑒𝑟 strikes again!

What the supreme court should do is stop the colleges from charging outrageous tuition.

Yup, Hillary warned us all, but those non-voters knew better!

Younger voters under thirty generally never vote anyway (a massive 27% showed up last year!), so FUCK 'EM!

R34 they did a massive overhaul to that program, fixing many of it's flaws (which was the fault of republicans, once again). It's absolutely worth it to apply.