WARNING: Student Load Forgiveness is Very Unlikely to Pay for Your Next Elk Tag

[trackerbacker]

Left leaning politicians love increased federal lending, which clearly increases tuition, because it pacifies their base and syphons money to their constituents. The right leaning politicians, especially chamber of commerce repubs, love freshly minted graduates with student loan debt. They have to take jobs they wouldn't otherwise due to their debt. Both sides rely on the student loan bubble.

Also, just wanted to mention crossbows before this sucker gets locked.

Maybe we all coalesce around the fact politicians, not left or right, but politicians are the problem?

 

[AvidIndoorsman]

Maybe we all coalesce around the fact politicians, not left or right, but politicians are the problem?

I mean we did let the sales department run the country... imagine if your sales department had the reigns on your company.

Should be firmly in the nerds hands.

 

[noharleyyet]

I mean we did let the sales department run the country... imagine if your sales department had the reigns on your company.

Should be firmly in the nerds hands.

 

[trackerbacker]

I mean we did let the sales department run the country... imagine if your sales department had the reigns on your company.

Should be firmly in the nerds hands.

Thank God my companies ran product led not sales led models...I'd have fired em all and shut down long before selling!

(shivers)....Salesman....(shivers)

 

[Wildabeest]

I mean we did let the sales department run the country... imagine if your sales department had the reigns on your company.

Should be firmly in the nerds hands.

It could be worse. Geeks ran the company I work at for the first 25 years and it was awesome. Sales ran it for the next 20 and it was pretty good. Now the lawyers and accountants are running it (preparing for IPO) and it’s a total shit show. No offense VikingsGuy or BigFin .

 

[trackerbacker]

It could be worse. Geeks ran the company I work at for the first 25 years and it was awesome. Sales ran it for the next 20 and it was pretty good. Now the lawyers and accountants are running it (preparing for IPO) and it’s a total shit show. No offense VikingsGuy or BigFin .

Ooof.

I wish you patience, a cold beer, a good shot and a long relaxing weekend, weekly.

I both hope and don't hope, that you are the guy responsible for answering the phone when that first call comes after the ipo.

 

[westbranch]

It could be worse. Geeks ran the company I work at for the first 25 years and it was awesome. Sales ran it for the next 20 and it was pretty good. Now the lawyers and accountants are running it (preparing for IPO) and it’s a total shit show. No offense VikingsGuy or BigFin .

The accountants and CPAs only provide information. Can't blame them for the poor decisions people make with that info.
My sister works in IPO readiness for companies that need things in shape for SEC financials and all that. Maybe she's talking to the folks at your HQ.

 

[Marshian]

Interesting article in the Op-Ed in todays local paper

 

[trackerbacker]

Interesting article in the Op-Ed in todays local paper

View attachment 283540

"You're wrong"

 

[AvidIndoorsman]

Interesting article in the Op-Ed in todays local paper

View attachment 283540

If you indeed lost your job and needed a payment pause on student loans, wouldn't you also likely not be able to pay off other loans... is it surprising that folks debt increased.

Instead of coming to the conclusion that the payment pause led folks to go more in debt couldn't one also conclude that they just simply went into less debt than may have otherwise?

Would be interesting to read the study and how they controlled for folks who were actually unemployed, if they didn't that's a pretty "duh" finding.

Were there a lot of folks doing dumb stuff... absolutely.

 

[noharleyyet]

If you indeed lost your job and needed a payment pause on student loans, wouldn't you also likely not be able to pay off other loans... is it surprising that folks debt increased.

Instead of coming to the conclusion that the payment pause led folks to go more in debt couldn't one also conclude that they just simply went into less debt than may have otherwise?

Would be interesting to read the study and how they controlled for folks who were actually unemployed, if they didn't that's a pretty "duh" finding.

Were there a lot of folks doing dumb stuff... absolutely.

There were a lot of folks being pander coached to do dumb stuff.

 

[AvidIndoorsman]

There were a lot of folks being pander coached to do dumb stuff.

95% of the student loan conversation on both sides is just stupid pandering.

I wore sunscreen and still got a little burned, sunscreen doesn't work (this article)

Of course Biden is pandering... he's old as dirt and his lowest approval rating comes from 18-35 year olds.

Doesn't also mean there isn't a problem to be solved... and ironically when you actually read Republican proposals they aren't all that different then dem ones... because also shocker, red states have higher rates student loan default than blue states.

God forbid we ever have a fact based discussion to solve a problem in this country.

 

[noharleyyet]

95% of the student loan conversation on both sides is just stupid pandering.

I wore sunscreen and still got a little burned, sunscreen doesn't work

Of course Biden is pandering... he's old as dirt and his lowest approval rating comes from 18-35 year olds.

Doesn't also mean there isn't a problem to be solved... and ironically when you actually read Republican proposals they aren't all that different then dem ones... because also shocker, red states have higher rates student loan default than blue states.

God forbid we ever have a fact based discussion to solve a problem in this country.

water is wet......and jimmy crack corn

 

[AvidIndoorsman]

water is wet...

Biden was pretty sure forgiveness through HEROS would get tossed.

He's going to try Higher ED... probably will get tossed as well.

In the end the real push is the new IDR plan (SAVE). The big crux is how generous can he be with the plan before Republican's balk. For a lot of folks the SAVE will actually be better than the forgiveness, could actually cost more money.

It's going to be harder to fight, because Biden can definitely modify a loan plan, and standing would be a real leap.

Forgiving all the doomed to eternal default loans, would have saved the gov a lot of money in the long run. But Republicans love the line about free shit, and dems were not going to lose forgiveness for baristas with dumb degrees as a voting issue. So here we are.


@Douglas asked at one point about what you have to do/ are told about the loans... which nothing, my experience as been you apply to an institution, get in, fill out FAFSA, you click "ACCEPT" and then your institution gets a check, if there is any left over after tuition they give it to you. Unlike a mortgage there is no step to determine credit worthiness or your ability to pay it back.

Also, seemingly unknown to everyone all federal student loans are eligible for forgiveness. It's in the promissory note, so really it's a conversation about how forgiveness occurs.

The other issue I have is that unlike say a mortgage where a decent number of American's understand a 15 yr v. 30. v ARM and could give you a decent summary of the benefits, I bet no one on this entire forum can tell me how many federal payment plans there are, say why PAYE is better or worse than REPAYE for someone making 50K and whether or not they should file their taxes single or joint if they are married.

Hell if I could. Point being student loans are like 1000X more byzantine and complicated than home loans, which is a huge part of the problem.

The politics is so inane that instead of fixing the issue, both parties just create another "plan" call it good.

 

[TN2shot07]

Biden was pretty sure forgiveness through HEROS would get tossed.

He's going to try Higher ED... probably will get tossed as well.

In the end the real push is the new IDR plan (SAVE). The big crux is how generous can he be with the plan before Republican's balk. For a lot of folks the SAVE will actually be better than the forgiveness, could actually cost more money.

It's going to be harder to fight, because Biden can definitely modify a loan plan, and standing would be a real leap.

Forgiving all the doomed to eternal default loans, would have saved the gov a lot of money in the long run. But Republicans love the line about free shit, and dems were not going to lose forgiveness for baristas with dumb degrees as a voting issue. So here we are.

No matter what side you fall on, any forgiveness is a moot point as long as they still have the faucet wide open putting more water in the pool.

 

[AvidIndoorsman]

No matter what side you fall on, any forgiveness is a moot point as long as they still have the faucet wide open putting more water in the pool.

100%

That is absolutely the first step.

 

[seeth07]

No matter what side you fall on, any forgiveness is a moot point as long as they still have the faucet wide open putting more water in the pool.

Are college tuition rates related to the amount of loans given out through federal student aid?

 

[Buffs35]

No matter what side you fall on, any forgiveness is a moot point as long as they still have the faucet wide open putting more water in the pool.

Totally. The only way I can see solving the issue is either having the feds get out of student loans altogether, or limit the total amount issued by the feds to some percentage of the average first year income of a graduate from that school/department/major, etc. Pick a percentage 50%, 100%, 150%, etc. And if the student defaults, the college is on the hook for some portion.

Never going to happen, just my two cents.

 

[TN2shot07]

Are college tuition rates related to the amount of loans given out through federal student aid?

I think there’s a positive correlation, the easier that money is to get the more schools can charge. If the money dries up tuition probably reflects that to some degree.

 

[seeth07]

I think there’s a positive correlation, the easier that money is to get the more schools can charge. If the money dries up tuition probably reflects that to some degree.

I was just curious because I by no means was deserving of the amount of federal aid I received and after graduation, had it paid off quickly within 5 years (smartly I think?). After seeing how much it costs to go to that school now 15 years later it makes me wonder if the reason the rates have jacked up through the roof is just because how easy it was to get federal aid to afford going there. By afford I simply just mean being able to survive the years while in college without having to pay. There is no way I would pay that price to go to that school.