Let me preface this by saying I’m open to being wrong and that I don’t expect others to share these views. I still owe on my student loans and am not excited to continue paying them. Also, I’m listing several reasons here, so even if someone pokes holes in one or two, I’d encourage to see if there are still one or two solid reasons to be opposed to the specific method of student loan payoffs that was ruled unconstitutional.
From the beginning, the Biden administration knew this wasn’t a constitutional way of paying off loans. Their hope was that no one would have standing to bring a suit. In general, I’m not in favor of doing unconstitutional things in the hope we can get away with it. That’s a door I don’t want the Republicans to have access to either.
This program was initially proposed as COVID relief but does nothing to help those most impacted by COVID. It DOES however, help a huge class of potential voters. From the start this hasn’t been about helping people, it’s been about gaining votes.
Paying off existing student loans is an expensive measure that does nothing to address what got us here in the first place. We are paying too much for degrees that don’t provide the benefits and opportunities they once did, and that’s not going to change if we cancel existing debt. All it does is out us right back here in 5-10 years.
There’s a right way to go about this stuff. Congress should be the ones doing this, not the president. Unfortunately we have a congress that would much rather assign their work out to other people to take care of and that’s part of what has gotten us in the mess we’re in in the first place. I prefer a weak Office of the President, as we don’t always have who we want in that office. Sometimes this means things move slower than we’d like, but I’d rather that than letting whoever is president at the time take huge sweeping actions unchecked by Congress and the Judicial Branch.
Now, just to piss off anyone who wasn’t already upset with me, I think Trump is a crook and I hope he goes to jail for a long time.
Anyway, I’m not trying to start a fight, just give some reasons why I personally am happy with this SC decision.
I’m also against loan forgiveness and agree with all your points. Especially number 3. I want to add emphasis that I think forgiveness in this way will actually make the problem worse.
Yes, it would be a huge help to those who had debts forgiven. However if forgiven once, more people will be likely to go to price-gouging colleges, sign up for the huge student loans, and think there is some chance it will be forgiven later. Colleges will continue to raise tuition because people keep paying it.
We need to address the tuition cost problem. Colleges are out of control. Until we fix that, anything else will encourage them to keep going. Another way of looking at $500bn of loans forgiven… That’s $500bn in the colleges pockets that they get to keep after tripling their tuition.
I think college is a great thing and important to be accessible. We need to make it cheap enough that students can afford it and not come out of it with $80k+ in loans (I as did).
Doesn’t address the root problem, in fact it makes the root problem worse. It’s just a one time payout to a lucky group of millenials who happen to qualify at the moment.
Also, it primarily benefits wealthier people who got college degrees. That money would do a lot more good going to poorer people.
5 bucks says it is either a half remembered article from an economist who works for the student loan people wailing about theoretical inflation or they knew someone with a degree that doesn’t pay well and want to punish them for trying.
A lot of it is the “fuck you, got mine” mentality too… which goes along with the “they’re just assholes”. Graduated with no debt because they have well off parents but down play the role that possibly could have had. Obviously people who need a loan to get through college nowadays are just lazy right?
Or “you could have just gone to a cheaper college, this one’s $10,000/year tuition” ignoring that just because you’re in college doesn’t mean you don’t also need to pay rent and buy other necessities… $10,000 is a lot of money for a young adult. That’s half their yearly post-tax income if they could work full time hours at $15/hour.
Fine. I’ll bite.
Why are you against student loan forgiveness?
Let me preface this by saying I’m open to being wrong and that I don’t expect others to share these views. I still owe on my student loans and am not excited to continue paying them. Also, I’m listing several reasons here, so even if someone pokes holes in one or two, I’d encourage to see if there are still one or two solid reasons to be opposed to the specific method of student loan payoffs that was ruled unconstitutional.
From the beginning, the Biden administration knew this wasn’t a constitutional way of paying off loans. Their hope was that no one would have standing to bring a suit. In general, I’m not in favor of doing unconstitutional things in the hope we can get away with it. That’s a door I don’t want the Republicans to have access to either.
This program was initially proposed as COVID relief but does nothing to help those most impacted by COVID. It DOES however, help a huge class of potential voters. From the start this hasn’t been about helping people, it’s been about gaining votes.
Paying off existing student loans is an expensive measure that does nothing to address what got us here in the first place. We are paying too much for degrees that don’t provide the benefits and opportunities they once did, and that’s not going to change if we cancel existing debt. All it does is out us right back here in 5-10 years.
There’s a right way to go about this stuff. Congress should be the ones doing this, not the president. Unfortunately we have a congress that would much rather assign their work out to other people to take care of and that’s part of what has gotten us in the mess we’re in in the first place. I prefer a weak Office of the President, as we don’t always have who we want in that office. Sometimes this means things move slower than we’d like, but I’d rather that than letting whoever is president at the time take huge sweeping actions unchecked by Congress and the Judicial Branch.
Now, just to piss off anyone who wasn’t already upset with me, I think Trump is a crook and I hope he goes to jail for a long time.
Anyway, I’m not trying to start a fight, just give some reasons why I personally am happy with this SC decision.
I’m also against loan forgiveness and agree with all your points. Especially number 3. I want to add emphasis that I think forgiveness in this way will actually make the problem worse.
Yes, it would be a huge help to those who had debts forgiven. However if forgiven once, more people will be likely to go to price-gouging colleges, sign up for the huge student loans, and think there is some chance it will be forgiven later. Colleges will continue to raise tuition because people keep paying it.
We need to address the tuition cost problem. Colleges are out of control. Until we fix that, anything else will encourage them to keep going. Another way of looking at $500bn of loans forgiven… That’s $500bn in the colleges pockets that they get to keep after tripling their tuition.
I think college is a great thing and important to be accessible. We need to make it cheap enough that students can afford it and not come out of it with $80k+ in loans (I as did).
Doesn’t address the root problem, in fact it makes the root problem worse. It’s just a one time payout to a lucky group of millenials who happen to qualify at the moment.
Also, it primarily benefits wealthier people who got college degrees. That money would do a lot more good going to poorer people.
5 bucks says it is either a half remembered article from an economist who works for the student loan people wailing about theoretical inflation or they knew someone with a degree that doesn’t pay well and want to punish them for trying.
It is always one or the other.
It doesn’t have to even be that complicated… I think they’re just assholes
A lot of it is the “fuck you, got mine” mentality too… which goes along with the “they’re just assholes”. Graduated with no debt because they have well off parents but down play the role that possibly could have had. Obviously people who need a loan to get through college nowadays are just lazy right?
Or “you could have just gone to a cheaper college, this one’s $10,000/year tuition” ignoring that just because you’re in college doesn’t mean you don’t also need to pay rent and buy other necessities… $10,000 is a lot of money for a young adult. That’s half their yearly post-tax income if they could work full time hours at $15/hour.
Don’t forget that’s 10,000 x 4 just for undergrad
My state college tuition 12 years ago was about 10k. Now it’s closer to 30k with no aid.