Biden throws cold water on major student loan forgiveness

[ηєω ƒяσηтιєя]

https://mobile.twitter.com/ccadelago/status/1395689100922048515
When it comes to this issue, Biden completely sucks 

[Green Line]

Greatest President ever!

[ultraviolet]

Yay! The worst part of his platform (hopefully) gone

[Santander]

Sweeping loan forgiveness without corresponding sweeping reforms to higher education doesn't solve anything.

[Anti Democrat Democrat Club]

Yay! The worst part of his platform (hopefully) gone

Him supporting full forgiveness wasn't even part of his platform.  That's more of an "other Democrats" thing than it is a Biden thing.

[ultraviolet]

Yay! The worst part of his platform (hopefully) gone

Him supporting full forgiveness wasn't even part of his platform.  That's more of an "other Democrats" thing than it is a Biden thing.

Full forgiveness was never a thing with Biden. $10,000 was on his platform

[SevenEleven]

Yay! The worst part of his platform (hopefully) gone

Him supporting full forgiveness wasn't even part of his platform.  That's more of an "other Democrats" thing than it is a Biden thing.

Full forgiveness was never a thing with Biden. $10,000 was on his platform

And $10,000 hasn't been taken off the table. People just want to find something to scream about. It's been four months, y'all, chill out.

[AGA]

Based

[Ancestral Republican]

Of course, the vast majority of student debt is not held by Penn graduates.

This was always the fear with Biden - he went to college and law school 110 years ago with football scholarships and help from parents, almost flunked out, had a great career anyway, and has always demonstrated a supreme lack of concern for those less fortunate than himself.

Of course, the tuitions spiking is partially his fault as well, as he pushed the non-dischargeable loan and government tuition guarantees that precipitated the biggest increases in costs in the early 2000s. His famous "I have no empathy" quote was directed towards the kids that policy hurt.

Credit Card Man was never going to cut off the profits his banking donors loved, no matter how many lives it ruined, which is precisely why this:

Sweeping loan forgiveness without corresponding sweeping reforms to higher education doesn't solve anything.

won't happen.

[SnowLabrador]

He's an idiot. If he cancelled all federal student loan debt, that would instantly make him the most popular President in modern history. He absolutely has the power to do so.

[7,052,770]

Any debt forgiveness should be for ANY dent, not just student debt. Why should that type of debt get special treatment?

[Holy Unifying Centrist]

Any debt forgiveness should be for ANY dent, not just student debt. Why should that type of debt get special treatment?

I would be more sympathetic to forgiving medical debt than student loan debt

[I spent the winter writing songs about getting better]

Any debt forgiveness should be for ANY dent, not just student debt. Why should that type of debt get special treatment?

Any debt forgiveness should be for ANY dent, not just student debt. Why should that type of debt get special treatment?

I would be more sympathetic to forgiving medical debt than student loan debt

There's an easy answer to this: because that debt isn't mostly held by the government and the government can't forgive it. Student loan debt is mostly federally held and thus in theory can.

Anyway I have less than $10k in student loan debt remaining. If Biden gets $10k forgiveness pushed through it'll all be gone. If not my employer's program will pay off almost half anyway and I don't need to really worry about it anymore. For me it's a minor issue so this doesn't bother me.

[7,052,770]

He's an idiot. If he cancelled all federal student loan debt, that would instantly make him the most popular President in modern history. He absolutely has the power to do so.

Sure, some people would like it, but there would also be a whole lot of resentment from people who don't have student debt, especially those who've worked really hard to pay it off.

Much better to just give out money to people and let them spend that on their student loans if they have any.

[Ancestral Republican]

Any debt forgiveness should be for ANY dent, not just student debt. Why should that type of debt get special treatment?

Obviously most sane people want that debt cancelled too. However as BRTD says the government doesn't hold it.

Both are having an extreme concrete shoes effect on the economic conditions of anyone non-wealthy under 40 - while medical debt also affects everyone who's had a medical emergency and hasn't been privileged with Cadillac insurance.

Bernie frequently talks about the specific failures of our corporate medical system - including the high regular and arbitrary increases in the cost of necessary medications like insulin, and the fact that 90% of deaf/HOH can't afford hearing aids (as opposed to 95% of deaf Brits and 98% of deaf Aussies who have them).

[John Dule]

Generally you only subsidize something if you want to encourage it, so this is obviously good.

[DaleCooper]

I have a lot of sympathy for those that are trapped beneath mountains of student debt due to bad college decisions. There are countless of what amount to support groups online for people that studied music, theater, or art history and now have no job prospects greater than what they could've gotten out of high school and are paying off what is essentially a mortgage. That said, these problems are often the result of bad decisions. College is an investment, and like any investment, it can be good or bad. Forgiving their debt in a blanket sense is not only a regressive tax that is unfair to those that didn't go to college at all, but it's unfair to those that made responsible decisions and made it out of college with degrees that got them into professional careers or made decisions and sacrifices that enabled them to come out of college with minimal debt.

Again, I have great sympathy for a lot of these people. Schools and society set these easily-influenced young kids up to fail by lying to them about their potential job prospects when they select a major and pressuring them into living on campus all four years or attend college out of state when that is completely unnecessary. But that is what needs to change. We need to reform the system before we start throwing money at the people that fell prey to it. Warren was presented with a very important question during a rally back in the primaries, and it was basically along the lines of, "If you forgive all student debt, then was I just an idiot for being financially responsible and going to community college?" It's a question that proponents of student debt abolition need to answer if they want to be taken seriously.

[Santander]

He's an idiot. If he cancelled all federal student loan debt, that would instantly make him the most popular President in modern history. He absolutely has the power to do so.

It wouldn't, for reasons already mentioned, and what it would actually be doing is forgiving is the educational-industrial complex's outrageous practices, potentially making the problem even worse.

[HagridOfTheDeep]

I have a lot of sympathy for those that are trapped beneath mountains of student debt due to bad college decisions. There are countless of what amount to support groups online for people that studied music, theater, or art history and now have no job prospects greater than what they could've gotten out of high school and are paying off what is essentially a mortgage. That said, these problems are often the result of bad decisions. College is an investment, and like any investment, it can be good or bad. Forgiving their debt in a blanket sense is not only a regressive tax that is unfair to those that didn't go to college at all, but it's unfair to those that made responsible decisions and made it out of college with degrees that got them into professional careers or made decisions and sacrifices that enabled them to come out of college with minimal debt.

Again, I have great sympathy for a lot of these people. Schools and society set these easily-influenced young kids up to fail by lying to them about their potential job prospects when they select a major and pressuring them into living on campus all four years or attend college out of state when that is completely unnecessary. But that is what needs to change. We need to reform the system before we start throwing money at the people that fell prey to it. Warren was presented with a very important question during a rally back in the primaries, and it was basically along the lines of, "If you forgive all student debt, then was I just an idiot for being financially responsible and going to community college?" It's a question that proponents of student debt abolition need to answer if they want to be taken seriously.

Seems like you have no empathy at all. A 17-year-old kid is not equipped to make a decision like that. They should not be doomed to decades of lost time because of that, especially when a degree actually is needed to get in the door of many job sites. This wasn’t the case 30 years ago. Higher education should be tuition free.

Honestly, the US needs to institute a slew of serious overhauls if it wants to stay competitive into this century, but it’s not going to.

[DaleCooper]

I have a lot of sympathy for those that are trapped beneath mountains of student debt due to bad college decisions. There are countless of what amount to support groups online for people that studied music, theater, or art history and now have no job prospects greater than what they could've gotten out of high school and are paying off what is essentially a mortgage. That said, these problems are often the result of bad decisions. College is an investment, and like any investment, it can be good or bad. Forgiving their debt in a blanket sense is not only a regressive tax that is unfair to those that didn't go to college at all, but it's unfair to those that made responsible decisions and made it out of college with degrees that got them into professional careers or made decisions and sacrifices that enabled them to come out of college with minimal debt.

Again, I have great sympathy for a lot of these people. Schools and society set these easily-influenced young kids up to fail by lying to them about their potential job prospects when they select a major and pressuring them into living on campus all four years or attend college out of state when that is completely unnecessary. But that is what needs to change. We need to reform the system before we start throwing money at the people that fell prey to it. Warren was presented with a very important question during a rally back in the primaries, and it was basically along the lines of, "If you forgive all student debt, then was I just an idiot for being financially responsible and going to community college?" It's a question that proponents of student debt abolition need to answer if they want to be taken seriously.

Seems like you have no empathy at all. A 17-year-old kid is not equipped to make a decision like that. They should not be doomed to decades of lost time because of that, especially when a degree actually is needed to get in the door of many job sites. This wasn’t the case 30 years ago. Higher education should be tuition free.

Honestly, the US needs to institute a slew of serious overhauls if it wants to stay competitive into this century, but it’s not going to.

You got me. No empathy at all.

[Ancestral Republican]

I have a lot of sympathy for those that are trapped beneath mountains of student debt due to bad college decisions. There are countless of what amount to support groups online for people that studied music, theater, or art history and now have no job prospects greater than what they could've gotten out of high school and are paying off what is essentially a mortgage. That said, these problems are often the result of bad decisions. College is an investment, and like any investment, it can be good or bad. Forgiving their debt in a blanket sense is not only a regressive tax that is unfair to those that didn't go to college at all, but it's unfair to those that made responsible decisions and made it out of college with degrees that got them into professional careers or made decisions and sacrifices that enabled them to come out of college with minimal debt.

Again, I have great sympathy for a lot of these people. Schools and society set these easily-influenced young kids up to fail by lying to them about their potential job prospects when they select a major and pressuring them into living on campus all four years or attend college out of state when that is completely unnecessary. But that is what needs to change. We need to reform the system before we start throwing money at the people that fell prey to it. Warren was presented with a very important question during a rally back in the primaries, and it was basically along the lines of, "If you forgive all student debt, then was I just an idiot for being financially responsible and going to community college?" It's a question that proponents of student debt abolition need to answer if they want to be taken seriously.

How old are you?

I ask because I hear this often from older people. They remember $3000 yearly tuition at the big university on top of the hill and ask, what's all the hubbub about? But now it's actually more expensive in some cases to go to your average community college than a state university was 30 years ago.

And of course, even if your degree is desirable (and in most cases they are to whatever extent - the "problem" of wxmxn's studies majors working at Starbucks has been pretty overblown, usually by people who would prefer none of the dirty poors go to college at all) it doesn't mean the debt is any better. Trade schools are also very expensive. Bottom line - regardless of what someone is majoring in, the cost of college of all types has spiralled out of control - that's of course what should be addressed first before loan forgiveness, and Credit Card Man will likely never do either. As I pointed out before, his legislative career is partly responsible.

[DaleCooper]

How old are you?

I ask because I hear this often from older people. They remember $3000 yearly tuition at the big university on top of the hill and ask, what's all the hubbub about? But now it's actually more expensive in some cases to go to your average community college than a state university was 30 years ago.

I'm 24 and am well aware of how horrific the cost of college is. I personally made some bad college decisions that put me further in debt than I ever needed to be, so I understand the struggle and would benefit from this. My problem with this kind of student debt forgiveness revolves around how it rewards the people that made reckless decisions and doesn't help the people that didn't. It's also a huge regressive tax that people who chose not to go to college understandably don't want to pay.

And of course, even if your degree is desirable (and in most cases they are to whatever extent - the "problem" of wxmxn's studies majors working at Starbucks has been pretty overblown, usually by people who would prefer none of the dirty poors go to college at all) it doesn't mean the debt is any better. Trade schools are also very expensive. Bottom line - regardless of what someone is majoring in, the cost of college of all types has spiralled out of control - that's of course what should be addressed first before loan forgiveness, and Credit Card Man will likely never do either. As I pointed out before, his legislative career is partly responsible.

I specifically avoided mentioning that when I referenced dangerous degrees because I agree with you and can't stand how conservatives disingenuously demonize the humanities. With a little creativity and perhaps an internship to get you started, a degree in history or english or whatever can get you into a professional and stable job. My complaint is that the schools and advisors are often, perhaps even unknowingly, unrealistic with students about their potential job prospects, and they also manipulate students into thinking that paying outrageous housing costs is essential to the college experience when in reality there's no reason not to find affordable housing and save a boatload of money. Campus housing, meal plans, and out of state tuition are a huge contributor to the debt crisis.

My opposition to the blanket debt forgiveness is about its unfairness to everyone that chose not to attend college, made decisions and sacrifices to minimize their debt, and those that paid off their debt. It's also unfair to everyone in the future that this won't apply to and it might result in extremely irresponsible decisions on their part under the assumption that their debt will also be cancelled. 

[Warren 4 Secretary of Everything]

This and immigration are the only issues I’ve disapproved of Biden’s job performance on. I went to college to be a teacher. A state school. I finished in the traditional 4 years. But I still came out with $30,000 in debt.

Student debt forgiveness may not be perfect policy, but it can be good policy; especially for public school teachers like me who’re required to obtain college degrees that are unnecessarily expensive in order to join a job field that is severely underpaid.

[Santander]

This and immigration are the only issues I’ve disapproved of Biden’s job performance on. I went to college to be a teacher. A state school. I finished in the traditional 4 years. But I still came out with $30,000 in debt.

Student debt forgiveness may not be perfect policy, but it can be good policy; especially for public school teachers like me who’re required to obtain college degrees that are unnecessarily expensive in order to join a job field that is severely underpaid.

Teachers already have partial loan forgiveness, albeit weighted perhaps unfairly in favor of high school science and math teachers. The problem with teachers is the master's degree pay premium in some jurisdictions that has spawned a cottage industry of schools offering fast and cheap master's degrees of questionable value for student learning. Instead of incentivizing teachers to go out and spend $20k on wallpaper, they should just take that money and give experienced teachers a raise.

[Ancestral Republican]

How old are you?

I ask because I hear this often from older people. They remember $3000 yearly tuition at the big university on top of the hill and ask, what's all the hubbub about? But now it's actually more expensive in some cases to go to your average community college than a state university was 30 years ago.

I'm 24 and am well aware of how horrific the cost of college is. I personally made some bad college decisions that put me further in debt than I ever needed to be, so I understand the struggle and would benefit from this. My problem with this kind of student debt forgiveness revolves around how it rewards the people that made reckless decisions and doesn't help the people that didn't. It's also a huge regressive tax that people who chose not to go to college understandably don't want to pay.

And of course, even if your degree is desirable (and in most cases they are to whatever extent - the "problem" of wxmxn's studies majors working at Starbucks has been pretty overblown, usually by people who would prefer none of the dirty poors go to college at all) it doesn't mean the debt is any better. Trade schools are also very expensive. Bottom line - regardless of what someone is majoring in, the cost of college of all types has spiralled out of control - that's of course what should be addressed first before loan forgiveness, and Credit Card Man will likely never do either. As I pointed out before, his legislative career is partly responsible.

I specifically avoided mentioning that when I referenced dangerous degrees because I agree with you and can't stand how conservatives disingenuously demonize the humanities. With a little creativity and perhaps an internship to get you started, a degree in history or english or whatever can get you into a professional and stable job. My complaint is that the schools and advisors are often, perhaps even unknowingly, unrealistic with students about their potential job prospects, and they also manipulate students into thinking that paying outrageous housing costs is essential to the college experience when in reality there's no reason not to find affordable housing and save a boatload of money. Campus housing, meal plans, and out of state tuition are a huge contributor to the debt crisis.

My opposition to the blanket debt forgiveness is about its unfairness to everyone that chose not to attend college, made decisions and sacrifices to minimize their debt, and those that paid off their debt. It's also unfair to everyone in the future that this won't apply to and it might result in extremely irresponsible decisions on their part under the assumption that their debt will also be cancelled. 

But you could say that about many government programs - why should I have to contribute towards $90,000 for my Marine former roommate to go to an art school that shut down? Blanket payment of tuition to veterans resulted in many irresponsible decisions like that. But you know what? It also helps a lot of people, too. A lot of people going into fields that would help others and contribute to society but don't necessarily pay the best. Like teaching and social work, two of the most vital professions we have.