Are you up for paying off student loans?
President Biden on Wednesday announced a student loan handout plan that essentially would use taxpayer money to pay off up to $10,000 of student debt per borrower making less than $125,000 per year.
That means Americans may be footing a nearly $300 billion bill if Biden goes through with the reported plan — plus extends a repayment pause to next year.
The nation's federal student debt now tops $1.6 trillion after ballooning for years. More than 43 million Americans have federal student debt, with almost a third owing less than $10,000 and more than half owing less than $20,000, according to the latest federal data.
Will Biden's student loan handout taxes the poor and throws gas on the inflation fire?
Biden's student loan handout plan is Robin Hood in reverse. It takes from the poor and gives to the rich.
Is he just clearly blatantly trying to buy votes?
Thoughts
I'm not concern about Federal loan to American student. I'm an outsider.
I always appreciate your participation, and kindness to leave a comment. How would you feel if you just came responsible for paying others' loans? The problem, many citizens never attended college, for one reason or another. many in the US can not afford college period. Should these citizens pay for those that could afford to attend, and took loans to do so?
And millions just worked their butts off to pay for college, and to pay off their loans, should they not be reimbursed some cash for all their hard work?
This president is a man that is clearly spending taxpayers' money to buy votes. Democrats are very well known for this cheap underhanded ploy. This is wrong on so many grounds.
I am not surprised because that was one of his promises during the campaign.
It amazes me though in that people in his party are behind this. I was a work study student but I remember the students that took a lot of loans able to take spring break in Florida, long vacations during the summer, party late nights on the weekends, etc. Now they are having their spring break fun subsidized by the minimum wage fast food employees? I do not think that those employees make anywhere near 125,000, so why should they be supporting those richer than themselves?
If any of you can justify this please let the rest of us know.
In my estimation, this idea is shortsighted. It really does nothing to address the skyrocketing costs of higher education over the last decade. Nothing more than a band aid but will Garner him some votes.
Young adults used to be able to manage college costs with a job but that is no where near the case today.
President Biden would have been better off at looking at ways to reduce costs at public institutions. Or potentially finding ways to drastically cut the interest, of possible, on the repayment of these loans. The high interest rates of these loans tack on and appreciable amount of money to those just beginning new careers.
I'd also be happy to see a year of service given by high school graduates in areas needed in exchange for a tuition break. A civil service opportunity. It might even do some good in bridging a cultural divide. I'd be delighted to see kids here offered intern positions in tech companies, media, financial institutions and other venues they're most likely to never see. Conversely, I'd love to see your city kids here learning about a different way of life.
Is this a political move? I'd say so. Democrats are pulling out all the stops. But we really do need to address higher education in a meaningful way if we want to compete with India and China.
Exactly, agree whole heartedly.
When one looks deeply into government "handouts" or "loans" one can see they almost all do more HARM than good, to society, to our economy, to those that work the hardest to produce, etc.
One example would be a welfare system that awards more money to mothers who have children without husbands/fathers in their lives.
The more children they have the more money they are awarded, the more benefits they are provided. Not only does this encourage young women to have kids, for income purposes, but it also encourages them not to have a father figure in those children's lives.
Federally backed Student Loans are a different thing entirely, yet it often results in hurting the person who was supposed to be helped.
Colleges created tons of useless, even socially or personally destructive courses and degrees one could pursue, not everyone can be an engineer or doctor, so plenty of new fields were created for the less inclined to the STEM fields.
And of course, colleges could hike up the rates, young people are the least cognizant of how much damage (hardship) too much debt can cause a person.
And if they never graduate with degrees, who cares, the school isn't stuck with the bill, they've already been paid. I would bet that just as many people who never got a degree have a student loan to pay off as those that did get a degree.
I think you are right, the only federally funded student loans, should be for state or community colleges, and those colleges need to be regulated to keep costs at a certain level for all students who receive such loans.
If you want to go to a better school than that, pay your way, fully, or get a scholarship or grant that doesn't require any type of loan to support it.
There's more ..
"In our tax code, universities are treated like charities, though they are very much not charities at all and if you pay the bill you know, but they don't pay taxes and that's why their endowments are bigger than the GDP of some countries. Harvard's endowment is over $41 billion. Yale's over 30. Stanford and Princeton over 25. The University of Texas, bigger than them all. So, it doesn't matter what they call themselves. These places are not colleges or universities. They are hedge funds with classrooms attached and if there's anyone in the United States who doesn't need more government money, it's the higher education lobby, but today, Joe Biden threw them more. He said, to give these colleges, these hedge funds, more of your money and you shouldn't be surprised because he just rewarded his private equity donors, and there are many of those, by preserving the carried interest loophole. That just happened earlier this month.
Your taxes are going up. They're paying half the rate that you are. So today, Biden announced he's going to force taxpayers to cover $300 billion worth of student loans."
https://www.foxnews.com/opinion/tucker- … cal-donors
Taxpayers will pay for Biden's loan forgiveness, and some economists warned him --- Hey Joe this will make inflation worse. Hey Joe all these loans will have to be paid for... I could write a book on this current ploy to buy votes. But I will let the Pros do my talking.
Larry Summers on student debt: I'd be skeptical of massive student debt reduction programs - Lawrence Summers Live
https://www.hks.harvard.edu/centers/mrc … udent-debt
Economics experts worry about impact student loan forgiveness will have on the country
While the Biden administration said they will be focusing on low- and middle-income households with student debt relief, other studies show otherwise. https://www.wfaa.com/article/news/local … 6d1f9eb97a
ECONOMYNEWS
‘Widen the Racial Wealth Gap’: Economist Breaks Down Effects of Biden’s Student Loan Forgiveness -- "An economics professor from Johns Hopkins University said during a Tuesday CNN appearance that President Joe Biden’s plan to forgive student loan debt would make the racial wealth gap wider and make inflation worse." https://www.dailysignal.com/2022/08/24/ … rgiveness/
"Biden just forgave $10,000 in student loan debt. Elizabeth Warren calls it ‘one of the biggest acts of consumer debt relief in American history,’ while Mitch McConnell calls it ‘socialism’"
https://fortune.com/2022/08/24/biden-st … mcconnell/
Trying to keep tabs on Biden's Build back Broke bills --- Biden and congressional Democrats have spent about $3.8 trillion on their agenda since Inauguration Day.
And now we can add another big spending bill.
The National Taxpayers Union’s estimate of costs per taxpayer is based on data from the Penn Wharton Budget Model, which found the total cost of the proposal could be $329.1 billion
Am I the only one concerned about record-breaking spending?
I don't understand your problem with endowments? They are gifts from individuals or organizations. Where is the problem with that?
They are tax exempt
The profits are ginormous and now he's throwing more money their way to keep the donations coming to him! At OUR expense!
They are essentially gifts, not "profits" that help fund scholarships in some cases and in other cases larger research projects and so on. I believe the more endowments from alumni and organizations that a public university or college receives the better. That less public funds needed. You are looking for the government to grab back in the form of taxation these charitable gifts?? How on Earth is this affecting the public financially? That certainly isn't in the spirit of small government or less intrusive government. But that seems to be the way of today's GOP. Get your hands in absolutely everything.
The whole thing has become politicized.
"Politicians reward their donors first. They're first in line. Joe Biden knows this really may be demented, but he remembers that. Consider the 2005 bankruptcy law, which has gotten not enough attention. That's one of Joe Biden's few legislative achievements in his 36 years in the U.S. Senate. That law prevented borrowers from discharging, getting rid of, credit card debt and private student loans in bankruptcy."
read more:
https://www.foxnews.com/opinion/tucker- … cal-donors
Gifts to universities almost always come with strings attached and they certainly do not lessen the amount of public funds the university begs for. Small gifts may be set up for scholarship but large gifts usually fund things like recreation centers and football stadiums
I must agree, and some endowments can be withdrawn if the donor becomes dissatisfied. I think much of the money is paid to the college to push certain ideologies. This is unfortunate.
How does a college push an ideology? I mean across the hundreds of professors, adjunct professors and so on how does one get everyone on the same page? I'm sort of shocked at the anti-higher education sentiments here. A poorly educated country doesn't have much of a future in today's world.
"How does a college push an ideology? I mean across the hundreds of professors, adjunct professors, and so on how does one get everyone on the same page? " Come on Faye ... You tell me.
Not sure anyone is anti-higher education? I think we were talking about endowments. I don't think anyone thus far has disparaged higher education.
And, I don't think you could get anyone not to agree with your
sentiment --- "A poorly educated country doesn't have much of a future in today's world.".
So, I guess we could jump into a huge problem --- our reputation for putting out a large majority of poorly educated public schools. It is obvious we have problems educating our children. Ultimately, this bodes poorly on the profession of teachers.
Oh yes, it is all the teachers who are responsible for any poorly performing district. I suppose they're not responsible for the ones who perform at the highest levels of achievement in terms of testing? All districts are certainly not created equal especially with the way this country funds public education through property tax. You let me know when you figured out how an educator can effectively manage a a classroom in a poorly funded district that pushes 40 children per class, many coming to school hungry unable to focus, without proper shoes or clothing, with untreated mental and behavioral issues, buildings that are crumbling without consistent heat or air and parents who will never show and iota of interest? Yes, we do have issues in education but they go well beyond the walls of the classroom. But you choose to lay the blame at the feet of teachers?? Teachers work within a construct, we're not miracle workers although we certainly try to be.
How does a college push an ideology? Seriously? Have you heard of peer pressure?
Peer pressure among college professors? Oh my...
I disagree but that does not matter much considering what this thread is about. I think If that Biden loan forgiveness plan was from Trump you and Credence would be telling us how it was just set up to help rich white kids.
Making assumptions about others is never a good bet.
So happy you brought up that the thread was being flipped. I mean I think the subject has lots of meat. But some don't want to go there.
I mean this president has literally spent over 3 trillion. in 1 1/2 years, and we will be sent the bill. Go figure. I guess I can see why some just do not want to go there. I had to pay for my college and two children's college educations. I don't want to pay for anyone else. I sure and the hell don't want to pay for Biden votes. I mean I personally think he is the worst president we have ever had. I can't even stand to hear his voice or look at his face, any longer. So, no I don't care to pay for someone to vote for him or any Democrat.
OMG, have I said a mouthful? Oh well, I guess you can guess my mood?
I do not think even the liberals on this forum can justify Bidens actions, which is why they are flipping this coversation to look like it is about education.
It is not about education. If the conservatives on this forum got on here and argued against PELL grants that would justify their ire, as that is a program for low income people to attend college. It is not about that, however, It is about forgiving loans for people that make over $100,000 a year.
I think Biden has opened a can of worms. Many who paid loans, will be very unhappy with his latest giveaway. he is a carnival barker. I would like some cash back on all the cash I have put out.
I guess I get the privilege of now paying for other children to attend college. And so do the less fortunate that have zero chance of attending college due to the costs.
You are so right on this one.
Parents that paid OUT OF POCKET... working TWO jobs... Skipping on vacations, better cars, better homes, to pay for their kid's college "the right way"... to say they are furious would be an understatement.
I was watching them attack Elizabeth Warren, open flagrant hatred, over this, and these were Democrats.
To quote the sentiment of those well-doer middle class American Democrats:
In my family’s case, should we have just borrowed all of this money and sent our kids only to public universities? If so, we could have had $600,000 to spend on all sorts of other things — nicer cars, nicer houses, or fun trips. Or it is money we could have given our children and grandchildren when we die. We always purchased used cars that were a year old. My Ford Taurus lasted for 16 years and had more than 225,000 miles. My wife’s Pontiac Transport lasted almost as long before rust meant it could no longer pass the state’s yearly safety check.
But we didn’t complain. We promised our children that if they worked hard and got into a good college, we would figure out a way to pay for them to go there. We were proud of our children’s hard work, and we thought that going to a top university was important for their success in life.
So, because we saved up and behaved responsibly, President Joe Biden will punish us. Those who didn’t save or work 80- to -90-hour weeks, who spent their money on nice things, now get us and other taxpayers to pick up the tab for their kids’ education.
How exactly is that fair?
Yeah, the leaches were always going to vote for Democrats anyway, they always offer more free stuff to them.
But those hard working stiffs that still view the Democrats through those Rose Tinted glasses thinking the Dem Party is what it was 30, 40 years ago, well this is a nice splash in the face for them... hah!
I am still waiting to see if anyone can come on here and justify this.
Does buying Democrat votes really need justification?
Not to Democrats, I think.
I told you earlier in the thread what my position was and why. Did you miss the memo?
Sorry I missed that so just went back and read it. I agree with you on the foolishness of those corporate bailouts, but this seems like one of those "two wrongs does not make a right" situations.
Please don't hold your breath. They have scattered and deflected. Most that lean left here, are in the deep Trump rut. They won't discuss much else. I mean with all that is happening in this country, this forum seems to be stagnant compared to other social media sites.
I like the users here, so I do keep coming back.
I totally agree, those that seek"free" will vote for Democrats. they promise tons and toss crumbs to keep the sheep at least fed. However, some of Dem's parents put their children through school and most likely steaming, as well as just about every Republican. I think this may just be one of Biden's many mistakes. I mean many are saying this latest free for all will add to inflation.
I think many Americans on the other side have had epiphanies, and are well discussed with the Democratic party.
Hey quite a few of this countries Republican Representatives like free also. I believe to the tune of almost 15 million dollars in forgiven PPP loans!
https://www.masslive.com/politics/2022/ … eness.html
Not sure how you equate that with being Free? Paycheck Protection Program An SBA-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis.
These loans were not free money, in fact, there were strings attached.
The employer was obligated to keep their employees working and pay their salaries for two years to include benefits such as health
insurance, as well as many other work-related benefits the person had before COVID. If the business did not keep the agreement on the loan they were responsible to pay it back. My son kept literally hundreds of his employees working without loss of salary or benefits, and the loan was forgiven.
These were loans many had to pay back... And these loans were given to existing businesses to keep our economy afloat. One that takes a college loan is seeking a profession through education. They are not productive in their fields until after graduation in most fields. They are not the lifeblood of our economy at the point they are being educated.
The PPP loans kept citizens in their jobs, and help keep the economy from failing. Our unemployment was horrific. These loans kept many companies afloat, that never skipped a beat. The companies had to keep the loan agreement or pay it all back. Many did need to pay these loans back.
My son borrowed a ton and took a chance to keep his company up and working. His loan was forgiven.
Were the PPP loans a kind of government grant? I ask because paying back and forgiving are two different things. If forgiving means canceling, then it seems part of the loan has been paid off?
One only needed to pay back the loan if they broke the written agreement. The rules are wre very simple actually. keep workers working through the pandemic, and also pay their benefits for a two-year period. If you broke the agreement the loan was to be paid back.
Colleges will make more money, increase rates, this will do nothing to fix the issue.
https://www.wsj.com/articles/the-colleg … N#cxrecs_s
That'll be terrible for some sudents with poor financial background.
I think there are too many college professors who teach their political opinion just as much as their course work.
From what I have seen a professor is never penalized if he spends half the time talking about politics, as long as it is what the dean supports. If he starts straying into an area that is not good for the university that professor could lose their job. (I think tenure is only granted to those that are politically correct and follow the university line. This may be incorrect, and I wonder if anyone has ever seen any research that supports or refutes this?)
They certainly pushed left ideals when I was in college. And I will not share how many decades ago that was. LOL
This was your experience in college?.
Colleges are designed to encourage free and open inquiry, conservative reasoning would be structurally opposed to that kind of evaluation. That is why DeSantis finds it necessary to control what it is that is taught in college classrooms as if students are not sophisticated enough to discern the relevance of they are being taught. Colleges are intrisincally liberal because so are open thought and ideas.
"Colleges are designed to encourage free and open inquiry, conservative reasoning would be structurally opposed to that kind of evaluation." LOL
Two words BS.
" Colleges are intrisincally liberal because so are open thought and ideas."
Yes, open to just about anything, it need not make common sense or hold logic, just a thought or an idea that holds no real benefit in today's world.
It's called teaching critical thinking. The real freedom to discern what makes most sense for you as an individual. Not being given a slate of ideas that's been approved by some governmental body and forced upon you.
You can call it whatever you please. It fascinates me how liberals fall back on that sentiment in a pinch. I call it impinging. Perhaps no one is asking liberals to share their ideologies, and their critical thinking. Did that ever enter your thoughts? Discern the most sense for you as an individual? Really and why do you feel liberals are the best to discern what's best for all? My God Faye this is so out there... Hard to take you seriously. Have you not noted all the problems with parents and teachers? The Teachers union, pretty much trying to tell parents what they will teach. It seems they have lost touch. They work for our public schools, the schools we pay for. We pay their salary. They are hired to teach a curriculum that the parents find acceptable. I am also pleased to see parents getting involved because it is clear not many have been involved for some time. Hence the false bravado teachers have acquired. Teachers need a curriculum like no other time. Teach, and keep personal views to themselves.
This very administration of liberals seeks programs and actions that excessively restrict businesses and by their definition, totally restrict personal liberty either by law or by social pressures and attendant violence. (socialism) Liberals are working to take away the right of people to defend themselves from any kind of attack. They want to remove parents’ right to decide what they learn in school. They want to attack education and reduce it to where it is nothing but indoctrination and dumbing down. Please do some research into Diversity statements now being required or I should say forced on new Teachers being hired at universities around the US. Disgusting... This practice is in line with your "critical thinking".
As a Conservative, I prefer limited government and see government as necessary. Government is necessary for managing our economy, military, infrastructure, educational system, law and order, and to a lesser small extent, society.
I don't feel the government has any business in micromanaging the details of our lives, private business, or sticking their noses in our families.
You are speaking of traditional conservative values and I would agree with you as you have stated them.
The MAGA party doesn't seem to operate on a lot of these principles. Look to the autocratic tendencies of Governor Ron DeSantis in Florida. His intrusion on private corporations speech and policies, intrusions into higher education as well as nonsense fantastical claims of CRT in elementary schools. It's a whole slate of non-existent fluff designed to enrage or cause fear and people who don't know any better. Throw the abortion bans on top of it and you really have autocratic regimes.
I'd be interested to know what programs you feel have been implemented under this administration that are intrusive?
Curriculum is set by your state government. Your State board of Education sets the teaching targets and standards. That will obviously be individual for every single state. They are the ones who are discerning what our best practices
are for the children of that state for that time. In terms of parental involvement, parents have always been more than welcome at board meetings that happen twice monthly at least in my district to give their opinions on curriculum and the like. Maybe it doesn't happen that way in your larger city? I've never said that liberals are the best to discern what is good for all. Not sure how you come to that conclusion as I am a libertarian and don't really prescribe to the tribal mentality of party preference. I don't see or understand your point of Education being indoctrination at all. I've never seen it in practice in my 25 years but please advise where it's happening? Your reading diversity statements from elite universities and I think taking them out of context completely. In any event they have nothing to do with k through 12 education.
"Yes, open to just about anything, it need not make common sense or hold logic, just a thought or an idea that holds no real benefit in today's world."
That, too, is just a matter of opinion, I would take the course of inquiry to see how much of that is true for myself.
At this point, we have several universities in America that are requiring new hires to sign "diversity statements".This practice is in line with your "critical thinking".
UCLA -- https://dailybruin.com/2019/01/16/requi … ng-process
"In today’s Martin Center article, Princeton student Matthew Wilson surveys an ugly landscape of required “statements” meant to weed out those who don’t conform to the leftist belief system."
https://www.nationalreview.com/corner/t … -rages-on/
I saw the National Review article. So who is against diversity, inclusion and equity is that not what we all should expect, and promote respect that students afford one another? What are the opposites; homogeneity, exclusion and inequality, is that better?
Is insistence upon basic concepts of coexistence "woke"?
I cannot speak to all of this except that I know that the National Review is clearly a Rightwing oriented publication, so there has to be another side to the story.
What is your opinion of Bidens student loan relief though?
I think that this loan forgiveness was political in nature as not going far enough for the left but if you had forgiven one penny you would have earned the ire of the Right anyway. Yet, it set a tone for Biden and was a bone tossed to his left flank, that may well be reflected in some gratitude by many who have to choose in November.
It seems to be more a matter of who benefits from dipping into the treasury over and above the sums involved.
We had the mad dog women of the rightwing, Taylor-Greene, complaining how unfair this policy is when nobody had to beg her to take freely from the honey pot, to bail out her business to the tune of $180,000.00
https://finance.yahoo.com/news/marjorie … p_catchall
We had the stimulus that handed out millions to every tax payer, whether they were need of it or not. I should not forget that there were means testing for the higher income levels.
We had the "too big to fail" bailout of corporations to the tune of billions.
We have had Reagan and Bush tax cuts that were skewed to benefiting the wealthy and increased the deficits that they knew for political reasons could never be made revenue neutral through spending cuts.
If I have this much money to dole out, I am going to err on the side of the middle/working class people over the fat-cats everytime.
"I think that this loan forgiveness was political in nature as not going far enough for the left but if you had forgiven one penny you would have earned the ire of the Right anyway. Yet, it set a tone for Biden and was a bone tossed to his left flank, that may well be reflected in some gratitude by many who have to choose in November."
I think you hit the nail on the head...
Spot on again. The rich making themselves richer.
But Biden is all about taxing the rich... remember?
This is the same guy who has funneled billions of dollars from foreign nations through family members. Anyone that believes in Biden has been duped more than any Trumper ever was.
You are spot on about that one.
And you know what fills the Administration, the halls of DC, and Wall St.?
Graduates overwhelmingly from the big 4 you mentioned.
There may be more to it than buying votes
"In the subsequent decades, student loan debt tripled. Americans' average credit card debt went up by thousands of dollars, but Joe Biden didn't care because the point of the bill was not to help Americans. The point of the bill was to reward his biggest donors (DONORS) and it did.
Is that what we're seeing here?
Well, let's see, where is Joe Biden's core base of support as of August 2022?
Well, no group in America supports Joe Biden more fervently still than college administrators, one of the fastest growing job categories in this country. How's that for depressing? There are hundreds of thousands of college administrators in the United States and most of them have master's degrees. As you can see from this chart, that group overwhelmingly donates to the Democratic Party. People employed in the education industry (And that's what it is. It's an industry) gave nearly $300 million to Democrats in 2020. They gave $30 million to Republicans. Talk about lopsided.
So, these administrators are the very beneficiaries of the single greatest scam currently underway in the United States. We send tax dollars to colleges who don't need them in the form of government backed loans, but instead of lowering tuition for you, they hike tuition every year at a rate far faster than the rising inflation.
Then they use those profits to hire more useless, unhappy anti-American administrators, all while failing to give your kids even a basic education in anything that's worth something and then, because all of that isn't insulting and destructive enough, the government rewards them and exempts these very places from paying taxes."
https://www.foxnews.com/opinion/tucker- … cal-donors
"We send tax dollars to colleges who don't need them in the form of government backed loans, but instead of lowering tuition for you, they hike tuition every year at a rate far faster than the rising inflation."
What Biden did by punirhing hard working, and responsible parents, to pay for others calls for a revolution.
Hopefully, we won't need one. Many Americans hope to vote out Biden and his administration.
Yes, vote Biden, the no brain President out of the Oval Office. Critically, he has no administration, or government. A cabal of China, in the USA is playing the tune.
What workforce did Marjorie Taylor green and Matt Gaetz have? I don't see that any of them had any sort of small business whatsoever. They are literally public servants, on the government's dime, as were quite a large number of Representatives that that took very large PPP loans and had them forgiven for it looks like no reason at all. I just find it a bit ironic that these representatives are now railing about $20,000 forgiven for student loans when they had PPP forgiven that they probably shouldn't have had in the first place.
"Many who participated in what prosecutors are calling the largest fraud in U.S. history — the theft of hundreds of billions of dollars in taxpayer money intended to help those harmed by the coronavirus pandemic — couldn’t resist purchasing luxury automobiles. Also mansions, private jet flights and swanky vacations.
They came into their riches by participating in what experts say is the theft of as much as $80 billion — or about 10 percent — of the $800 billion handed out in a Covid relief plan known as the Paycheck Protection Program, or PPP. That’s on top of the $90 billion to $400 billion believed to have been stolen from the $900 billion Covid unemployment relief program — at least half taken by international fraudsters "
The prevalence of Covid relief fraud has been known for some time, but the enormous scope and its disturbing implications are only now becoming clear. PPP was an epic swindle for the most part.
https://www.nbcnews.com/politics/justic … p-n1279664
"PPP was an epic swindle for the most part."
I would expect nothing less from a democrat administration.
The difference between a PPP loan and a student loan is obvious.
Nobody forced a person to take out a student loan. This is their choice.
During COVID, the government closed down businesses and wouldn't let them open. They were not permitted to make money. The government took away their livelihood. A PPP loan is nothing more than the government being responsible for taking away a company's ability to make a living. No business asked to be closed down by the government. It was a unique situation that had never before happened.
Student loans are common. I had one, my wife had one, my attorney had one, etc., etc. we all paid them off.
I resent being made responsible for the choices someone makes for their life. They need to be held responsible for their decisions. If I can pay off my student loan, I'm sure they can pay of their student loan. It can be done.
I guess the alternative is to not pay back your loans and vote Democrat. That seems to be the point of the program.
"I resent being made responsible for the choices someone makes for their life. They need to be held responsible for their decisions."
Well we are all responsible and on the hook for the billions who perpetrated fraud through PPP.
“The Small Business Administration, in sending that money out, basically said to people, ‘Apply and sign and tell us that you're really entitled to the money,’” said Horowitz, the chair of the Pandemic Response Accountability Committee. “And, of course, for fraudsters, that's an invitation. … What didn't happen was even minimal checks to make sure that the money was getting to the right people at the right time.”
Not sure about your state but mine and many of the neighboring states were never closed or experienced covid restrictions in any way. Local businesses stayed open. But boy we sure did have people taking these loans.
Experts say millions of borrowers inflated their numbers of employees or created companies out of whole cloth.
"Well we are all responsible and on the hook for the billions who perpetrated fraud through PPP."
The government is responsible for going after anyone that committed fraud to receive a PPP loan. I expect them to.
"Experts say millions of borrowers inflated their numbers of employees or created companies out of whole cloth."
That is a fraud, and easily prosicuted.
So basically you all are saying that since there was fraud in that program it is okay to provide handouts to rich kids that do not bother to pay back their loans?
Actually, I never said that at all. You made that assumption.
My apologies, I should have said "they" instead of you.
I think the only point was to say it's awfully ironic or hypocritical for those in Congress to oppose a $20,000 student loan forgiveness when they've had their own ppp forgiven to the tune of millions along with many others who took advantage (often fraudulently) of the PPP loan giveaway.
We as taxpayers are on the hook for the billions committed fraud due to that program and it's lax requirements
You can chalk it up to another bumbling move by government but please recognize that these moves happen across the political spectrum.
Yes, I agree it is hypocritical. It is wrong when the conservatives do it and wrong when the liberals do it too.
I personally feel it is worse when the coservatives use those programs to leech off of the government since they are opposed to government intervention. At least liberals are in favor of big government to solve all of our problems.
Anyone that took PPP loans did so with stipulations. The loans were not forgiven if these stipulations were not kept. I would think any Representatives that took PPP loans either kept to the agreement or were made to pay back the funds. They have as much right as anyone to take advantage of the loan program. Both parties had Representatives take PPP loans. Why have you just used Republican in your comment?
The latest White House ploy is discussting. There was no reason to slam just Republicans for taking PPP loans. The analogy comparing PPP loans to student loan forgiveness makes little sense. Feed for the stupid.
Those loans saved businesses, and our economy would be worse off than it is without those bailouts. I can't even imagine the unemployment that we would be looking at without that loan program. It was designed to save jobs, and keep some cash in our failing COVID economy. Put forth by Trump... Old Joe --- (Washington, D.C.) — U.S. President Joe Biden today signed into law the PPP Extension Act of 2021—legislation introduced by U.S. Senate Committee on Small Business & Entrepreneurship Chair Ben Cardin (D-Md.) and U.S. Senators Susan Collins (R-Maine) and Jeanne Shaheen (D-N.H.) to extend the deadline for the Paycheck Protection Program to May 31. The bill also gives the U.S. Small Business Administration an additional month through June 30 to process any backlogged applications.
It is up to the Government to prosecute anyone that is not abiding by their loan contract. As they were responsible for making those loans. Too bad they did not have a better system to assure Tax payers, the loans went to reputable people.
President Biden tightened up the program with increased regulation which should have been initially a part of the program to begin with. The fraud is also being actively prosecuted. But regardless taxpayers are still on the hook for the houses cars and jewelry purchased to the tune of billions by fraudsters.
So you feel our government won't go after those that committed fraud? You may be right we have an administration that is very inept at getting anything done.
We will also pay for Biden's forgiving student loans. That's a fact,
no fraud money there to go after. Just plain free cash.
The analogy between loans that need to be paid back if fraud occurs, and free cash makes no sense in my view. I guess some will buy that, jump on the media bandwagon, and share it. Me, I see two very different expenditures. To make it very simple, one has a payback clause. The other does not.
Many people, amounting to billions of dollars, obtained these loans fraudulently and have not had to pay them back. Yes this administration has pursued prosecutions.
The PPP program was put into place with little thought and regulation toward vetting applicants. Thus we have the problem we do.
Ultimately my point is only to say both the student loan forgiveness and the PPP can be questioned in terms of their usefulness and later impact. It always seems to go back to tribal politics and the my team is right no matter mentality I've only pointed out PPP to say each "side" has had it's blunders throughout history. Anyone who wants to stay on their team is going to experience a loss 50% of the time. Teams expect fealty without critical thinking.
If the media voice follows the path of the comments here, the White House's introduction of the 'PPP comparisons' has been successful. They have diverted from the question of the action to irrelevant rationale comparisons. They have diverted from the questioning of right or wrong to questioning the politics of the action.
Sheesh. The action of forgiving these student loans is an abrogation of voluntary legal agreements by fiat of an executive order tied to Covid-19 authorizations to avoid Congressional involvement.
I don't think that description is reasonably deniable. Starting from there, where would the comparisons of PPP be relevant if not in efforts to justify a wrong?
GA
by Sharlee 2 years ago
It is rumored that President Joe Biden is considering a broader push to forgive federal student loan debt. Biden discussed the issue this week with the Congressional Hispanic Caucus and lawmakers said he is exploring legal options to provide some type of wider relief, according to The New York...
by Sharlee 13 months ago
Biden-Harris Administration Announces Nearly $5 Billion in Additional Student Debt ReliefWhat are your thoughts on Biden's recent announcement regarding student loan debt relief? The Biden-Harris Administration has approved an additional $4.8 billion in relief for over 80,000 borrowers, bringing...
by Jim Bauer 10 months ago
I am so sick and tired of the push by the Biden administration to force student loan forgiveness on the American taxpayers, many of whom did not go to college and now must pay the debts.I think we're ALL being duped. The kids, the taxpayers, and the ones who are getting off Scott free are the...
by M Carnahan 10 years ago
What do you think should be done to fix America's student loan crisis?What do you think should be done first to try to alleviate this huge problem? Is anyone in particular to blame?
by Quilligrapher 13 years ago
Presidential hopeful Ron Paul, with a net worth reported between 2-1/4 and 5 million dollars, has announced a new plan that will make it more difficult for poor Americans to escape from under the yoke of poverty. In addition to shaving $1 trillion dollars from the federal budget by eliminating five...
by Readmikenow 2 months ago
Did the democrats actually believe this wasn't going to happen? Did they actually believe biden and other democrats saying nobody is above the law? How could democrats be so wrong about so much""Were you surprised?When President Joe Biden pardoned his son Hunter Biden, many...
Copyright © 2025 The Arena Media Brands, LLC and respective content providers on this website. HubPages® is a registered trademark of The Arena Platform, Inc. Other product and company names shown may be trademarks of their respective owners. The Arena Media Brands, LLC and respective content providers to this website may receive compensation for some links to products and services on this website.
Copyright © 2025 Maven Media Brands, LLC and respective owners.
As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.
For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://corp.maven.io/privacy-policy
Show DetailsNecessary | |
---|---|
HubPages Device ID | This is used to identify particular browsers or devices when the access the service, and is used for security reasons. |
Login | This is necessary to sign in to the HubPages Service. |
Google Recaptcha | This is used to prevent bots and spam. (Privacy Policy) |
Akismet | This is used to detect comment spam. (Privacy Policy) |
HubPages Google Analytics | This is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy) |
HubPages Traffic Pixel | This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized. |
Amazon Web Services | This is a cloud services platform that we used to host our service. (Privacy Policy) |
Cloudflare | This is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy) |
Google Hosted Libraries | Javascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy) |
Features | |
---|---|
Google Custom Search | This is feature allows you to search the site. (Privacy Policy) |
Google Maps | Some articles have Google Maps embedded in them. (Privacy Policy) |
Google Charts | This is used to display charts and graphs on articles and the author center. (Privacy Policy) |
Google AdSense Host API | This service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy) |
Google YouTube | Some articles have YouTube videos embedded in them. (Privacy Policy) |
Vimeo | Some articles have Vimeo videos embedded in them. (Privacy Policy) |
Paypal | This is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy) |
Facebook Login | You can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy) |
Maven | This supports the Maven widget and search functionality. (Privacy Policy) |
Marketing | |
---|---|
Google AdSense | This is an ad network. (Privacy Policy) |
Google DoubleClick | Google provides ad serving technology and runs an ad network. (Privacy Policy) |
Index Exchange | This is an ad network. (Privacy Policy) |
Sovrn | This is an ad network. (Privacy Policy) |
Facebook Ads | This is an ad network. (Privacy Policy) |
Amazon Unified Ad Marketplace | This is an ad network. (Privacy Policy) |
AppNexus | This is an ad network. (Privacy Policy) |
Openx | This is an ad network. (Privacy Policy) |
Rubicon Project | This is an ad network. (Privacy Policy) |
TripleLift | This is an ad network. (Privacy Policy) |
Say Media | We partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy) |
Remarketing Pixels | We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites. |
Conversion Tracking Pixels | We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service. |
Statistics | |
---|---|
Author Google Analytics | This is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy) |
Comscore | ComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy) |
Amazon Tracking Pixel | Some articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy) |
Clicksco | This is a data management platform studying reader behavior (Privacy Policy) |