This is rich. Did you or your company accept PPP?Quote:
Originally Posted by somebodyshotmypaw
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This is rich. Did you or your company accept PPP?Quote:
Originally Posted by somebodyshotmypaw
I've got 3 in college now. Told them grants or loans. Best case the loans will be forgiven. Spent a butt load on the previous 3. If not paid off of course I agreed to assist (I will be either way )
Nope. Sure didn?t. But it?s not the money issue that bothers me. It?s the avoiding what I promised. If I had somehow taken a PPP, I would have 100% lived up to whatever I agreed to.Quote:
Originally Posted by Harrydawg
Thankfully Biden is making this program opt-in so that people who aren't comfortable accepting the forgiveness don't have to. He really thinks of everything.Quote:
Originally Posted by somebodyshotmypaw
I will never forget something. I was probably 8 years old and we were eating Sunday lunch. A lady knocked on the door. My dad answered but didn’t recognize her. She had to tell my dad who she was because he hadn’t seen her in 25 years. She handed him $100 to repay a loan he had made to her 25-30 years earlier. By dad did not even remember loaning her the money. That stuck with me. That lady drove all the way to our house to fulfill an obligation she made 30 years earlier. My dad hadn’t asked for the money, hadn’t seen her in maybe 25 years, and didn’t even remember loaning her the money. But she had an inner integrity that made her want to fulfill her obligation. That stuck with me.Quote:
Originally Posted by Quaoarsking
Haven't read through this whole thread; but if the government feels help is needed, I feel like just offering 5-10 years interest free would be the way to go. I'd require payments start back immediately though. Let people pay on the principal.
If we're dead set on forgiveness though, at least see if there are trends in majors, schools, ACT/SAT scores, whatever among the recipients. If there are, stop giving federal grants and loans for them to prevent this in the future.
Will the forgiveness at least count as income?
Sometimes I'm ashamed of the human race. Not a single one of you will ever see or notice a tax bill for this. Not only that, but you can't be happy for people who get something you didn't. Why can't people not be jealous and just be happy for others? It's not a competition. I'm happy for the people that don't have to do what I had to do- work two jobs and miss time with my oldest kid. There's way too much bad stuff to even worry about something like this.
Moving. And keeping open. Amazing. A 3 page thread and Noone went postal ranting. Good job everyone.
Sorry I was busy enjoying a farewell party at my work besides I start my new job on Monday and.. Going to buy a new car.
Congrats, Scoob! Pour a bourbon.Quote:
Originally Posted by ScoobaDawg
I’m tired of sharing my wealth with people who don’t share my work ethic or my effort. I will see a tax bill, we all will. This is taxpayer funded.Quote:
Originally Posted by Cooterpoot
I will go to work today, work hard, take care of my responsibilities, and be happy. At your request, I’ll be happy for those healthy freeloaders sitting at home drawing government assistance while open jobs go unfulfilled. I will be happy that they have what I don’t (free healthcare, free rent, free utilities, EBT, WIC, free college, etc).
At some point we have to make people responsible for themselves. That’s how you build something special. What makes sports great is that those that work hard and achieve are the ones that thrive. We don’t pull a 20-year old out of the stands and let him play running back on Saturday over a guy who has spent hours and years in the weight room, conditioning, practice, etc. in order to finally earn a starting spot after 4 years in the program. Then decide to be happy for the kid who got to start despite never breaking a sweat or earning anything.
I’m very happy to see people achieve. Im happy to see people work and earn and achieve their dreams. I’m not happy to see people get handed something that was forcibly taken from someone else, while listening to those same ones bitch that $10,000 isn’t enough.
We are $30 trillion in debt. Obviously the way we are doing things ain’t working.
This is really all just grandstanding by Biden. He's literally trying to buy votes and he knows that he doesn't hold the power to actually forgive loans. The only way debt will be forgive is that it has to go through Congress
I caught the end of an explanation on how he's doing it - basically saying we're in an emergency (Covid). I caught about 10 seconds of it, and I wasn't paying that much attention, so I could be wrongQuote:
Originally Posted by trob115
If he tries to do it, it will be challenged and the Supreme Court will 100 percent shut that down.
Even Pelosi is on record saying he doesn't have that authority.
It's always amazing to see people mad about things like this.
We live in a society. We take care of each other. That's part of the social contract. We pay taxes to help form a more perfect union. Those taxes should go towards things that help people. This is set up to do just that. Especially those of us who don't have the money. It's a much better use of government spending than 2008 and bailing out banks. This money flows right back into the economy. Poor people spend. Rich people invest (hoard).
Sometimes I wonder if Mississippian are just CAVE dwellers. I think some would vote against helping pay for all school lunches for children because they are citizens against virtually everything. It's crazy.
As a reminder if your healthcare insurance is 10% of your monthly income and government raises your taxes 6% to give you free healthcare, you'd have more money in your pocket. "But what about private insurance? I shouldnt have to pay taxes on this if I don't use it." You again pay taxes for firemen, police officers, primary education, military, etc. Very few actually have their house caught on fire. If you can afford private insurance, then you can afford the small tax hit (numbers are made up estimates and likely you'll have more money in your pocket) to have a better society.
Maybe I missed it but I didn't see anyone mentioned the actual cost it is to go to college today. How about tackling the ever rising cost to go to college instead. No one should have to place themselves in a load debt for an education that many places today say is essential for a job. Colleges (most) have I believe predatorily capitalized on the "need for education" to be successful. Also dipping into the endowments of some of these colleges to pay off loans would be a quicker fix than putting it on the taxpayer. I get taxed on payday. I get taxed at the pump. I get taxed at the grocery store and the fast food drive thru. I get taxed on all my bills. I get taxed taxed taxed. If we all sat down and crunched the numbers and saw how much of our paychecks go to the taxes and how much is left for us it'd be eye opening.
THIS 100000% Couldn't have said it better myself!!Quote:
Originally Posted by somebodyshotmypaw
I completely sympathize with the students and understand the bad financial situation these loans put them in. I definitely sympathize with them more than the boomers complaining making the usual ?back in my day statements I had to do and pay?.? because they are not educated on the current student loan situation, but nevertheless this is not a good solution. Waiving $10K in student loans for borrowers is not the answer to a long term problem. There is nothing in this plan to stop people from borrowing more money or addressing the compound interest that is one of the main issues with student loans and the high balances. All these student loans need to be set up on payment plans for the principle balances and no longer accrue interest from past years. There?s your solution. Pay what you owe but don?t let them profit off you. If you take out loans moving forward, interest rates need to be fixed and students need to be educated on the impacts of student loans. This is not happening in financial aid offices at colleges
I'll be waiting for my reimbursement for the 50k I paid off while living on ramen with my first job*
ETA - I have 0 understanding or sympathy. You signed the loan. At 17-22 you're old enough to know if it's a worthwhile investment or not. If you don't know that then you shouldn't be taking any loans. Yay socialism
I'm 31 and I made a lot of sacrifices to pay all of my loans back. No one offered to pay them for me. I felt an immense sense of worth and self accomplishment the day I made the last payment. Giving things away is never a good example and will only foster more dependence. Whatever the loan situation is doesn't matter as long as colleges continue to raise their tuition. There's no reason for degrees to cost what they do and most afterwards pay what they pay. It's like raising the minimum wage was never the answer if prices continue to increase across the board.Quote:
Originally Posted by PGHBulldogBG
Try 171 trillion. Growing at ~500k per secondQuote:
Originally Posted by somebodyshotmypaw
https://www.usdebtclock.org/
Same s*** different day. Government creates problem by subsidizing college. Government comes with 'solution' by 'forgiving' loans. Government makes problem they created worse.
I completely agree and that is why my solution is not giving money away. I am against the 10K forgiveness. It?s not giving it away if you set people up on payment plans for the balance they owe. I am just suggesting we get rid of the interest moving forward on past loans because that is the main issue that created this mess. I have worked in financial aid for 14 yearsQuote:
Originally Posted by Matt3467
No. Change made in tax law by a recent bill.Quote:
Originally Posted by msstate7
Can someone explain to me why federally guaranteed student loans charge 7% interest, when private secured loans charge far far less? Why are student loans non-dischargable by bankruptcy, when virtually every other debt is?
My take is that our corrupt Congress took bank money to screw over students. The student loan industry is nothing but a federally protected racket. Biden is righting this wrong as much as he can without our corrupt Congress taking action. Good for him. If anything, you should be mad that he's paying off the racketeers rather than stiffing them.
Will Biden's Student Loan Debt Cancellation Plan Hold Up in Court?
https://reason.com/2022/08/25/will-b...-in-court/?amp
....
Looks like it will tough to overturn
I saw a chart from an HR person on LinkedIn yesterday that showed college attendance had dropped about 6% In the last 2 years. If enough kids stop going, schools will either have to cut costs or incentivize more kids to go. I personally like 2 years of public service to help pay off debt. I don?t like public money being used to buy votes, when many of the schools that charge the most to these students are sitting on billions of endowment $.
Government gives so much away to industries that pay little to no taxes why shouldn't they help people that have little hope of getting out of student loan debt. Like most on here I paid my loans but the cost of going to school was a lot less.back then. My total loan for going to college probably wouldn't pay for a full year nowadays.
This is already happening. Programs are getting cut left and right, including 3 last year at my school.Quote:
Originally Posted by IMissJack
Miss. will tax forgiveness
That'll do it, lol.Quote:
Originally Posted by msstate7
Really bizarre move, IMO...politically, philosophically, etc.
State tax code has to be rewritten. Mississippi is not the only state.Quote:
Originally Posted by BeardoMSU
17 the students they wanted to go to school and party now pay the piper... this is what is wrong with this country. we have a whole generation of self intitled pussies that want everything handed to them.