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this post was submitted on 06 Aug 2023
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Good. Pay your loans, people. Money doesn't grow on trees.
Why should people have to pay back their student loans when corporations didn't have to pay back their much bigger PPP loans?
Because those loans were dischargeable when they applied for them, whereas students agreed to pay back what they borrow.
Sorry, your answer is "because they said it was okay that time and not okay the other time?"
Without PPP loans half the country would be unemployed and the economy would be a disaster. Meanwhile, a college education increases your lifetime earnings by $1.2 million, so you're just being greedy and asking for a bailout.
How much of that $1.2 million goes to paying back loans with interest?
The average federal student loan debt is $37k. If you can't afford 37k over the span of several years you need to reexamine your financial decisions.
Sure, if you ignore interest, it's easy to pay off that $37k. Too bad there's interest and people are paying more on that than their original loan was worth. People with good jobs. How are you unaware of this?
The $37k includes interest, and even if it didn't, your loan is heavily subsidized. Without the federal government's guarantee, you would need to fork over collateral and your APR would be double digits. The government is already giving you a massive handout and you have the nerve to ask for more.
Funny, then, how people are paying more in interest than their original loan cost and are being buried in the debt.
I guess everyone but you is stupid.
It's extremely apparent why you're struggling with student loan debt.
I'm not. But nice try.
Galaxy brain take. Did you know some people argue in favor of things they won't personally benefit from? I suspect that idea never crossed your mind.
Who wants to tell him
But it is an imaginary concept; beyond the value we prescibe to it, money means nothing. The money Biden attempt to cancel out before and the lesser amount he is attempting now is only money indebted to the United States Government; who like anyone else can and should be able to forgive debts owed to them at their will and leisure. Conservatives love to talk about small government and the benefits of private business, so why do they care about the private business of the government?
If you say something to the effect of "it'll raise taxes!" It won't, as the debt owed by students is wholly unrelated to the debt owed by the U.S. government or it's expenditures. They could use the trivial amount for those things, but student loans payments have been mostly frozen for a while so its not like the government is recieving it anyways.