Not every piece of legislation needs to benefit you. It’s okay if others benefit and you don’t get hurt in the process.
That’s not the only reason to oppose this.
All Bidens solution does is take money from the tax payers to pay off the predatory lenders.
It means the people fighting against it are only fighting against it because they don’t get anything from it and that maybe they need to stop and consider that not every piece of legislation needs to benefit them and them only.
I think it is down right greedy for those who will typically be the highest wage earners to get loan relief for the loans that will make them wealthy. Why not apply that to business loans as well?
It is particularly paid by those that will have lower wages so how can you say it hurts none?
It’s funny how we can print and print money for decades, we can “invest” in private industries, give them loans with favorable interest rates, billions in grants, look the other way with regards to regulations, not block anti-competitive practices, but the second we try to help actual people directly everybody loses their shit.
Want to help the economy? That $10,000 (or $20,000) for Pell grant recipients might allow someone to save $300 more a month towards a house, a car, or spend it on goods and services. After 3 years, that’s money back in the economy rather than back to bank that have gotten plenty of help in the best.
Hurt is a strong word but other people would be paying for that benefit.
It’s not hard to imagine someone who decided to miss out on college and take the career penalty of lacking a 4 year degree just to avoid debt feeling like it’s a bit unfair to have to help pay for other peoples degrees. People who made the decision to take on the debt.
Maybe it’s would be a societal good overall but it’s not like there isn’t another valid side to the debate. Personally I think that money could be better targeted towards those in poverty whether they have student debt or not.
Republicans propose and pass blatantly unconstitutional stuff that there base wants right before elections all the time, then gets mad when courts overturn it right after the election. I’m glad Biden finally got rid of the “legal high ground” concept and started to do some of these “the worst they can say is no” measures.
The problem is that the president literally does not have this power. Nancy Pelosi even admitted this. It was a blatantly unconstitutional power grab that he knew would be shut down in the courts but did it anyway since he needed something to run on going into the midterms.
Lol. Funny that you are being downvoted because you are absolutely correct.
I guess the deadbeats don’t care - they just want their free money from the taxpayers.
You call us deadbeats but what about the insane predatory nature of the loans in the first place? Most of us were forced, manipulated, or scared into taking out loans at 18. Most of us also didnt have the education in the first place to understand what the loans all meant, either. “Go to college or you’ll be working the mcdonalds drive-thru at 35” kind of stuff. The brain doesn’t stop developing until like 27, so regardless of what society has decided, 18 year olds are still very much children.
We were tricked/manipulated/sometimes outright lied to, and now 3/4 of the $400 payment goes to interest.
I want to pay back what I borrowed, but at 2/3+ just going to interest, the principal never goes down. For many its still more than they borrowed years and years ago. That’s what’s criminal.
He should propose that those who took out student loans should pay them back. That is what really should happen.
Fuck that. I’ve paid more than $80k+ in extra taxes in the 6 years since I’ve graduated that I wouldn’t have without my degree. This is nothing more than a tax break for me - the little guy. This is nothing compared to their return on investment. Totally why community college/trade school should be free, on condition you graduate or get a job in the field of study.
I doubt it.
