I remember reading a discussion about the Hebrew tradition of Jubilee, which was a form of debt forgiveness. It was mentioned that Jubilee basically forgave government debt and had the purpose of freeing up civilians to take on new debt (ie buying things) that would stimulate the economy. This is exactly the reason student loan debt should be forgiven: to keep the economy turning.
It seems there is great confusion among a sizable amount of the population, and many "office holders" about the difference between "socialism" and social welfare programs which are funded by the legitimate taxation of capitalist enterprise.
Got MY PSLFP squared away about 6 mo ago after an earlier default when life was disrupted by a new job and moving across the country with very little spending money and a handoff to a defaulter's servicer who tacked on a very hefty-hefty fee.
Ta, Dok. You got your byline back! I wish I believed in hell so I could wish Betsy Wetsy DeVos there, along with her maybe-even-more-fucked-up brother. Civilized countries educate their kids without putting them into debt. When will our country learn?
One of the things this state does right is make it possible for students to earn a qualifying scholarship by being diligent in high school, and continuing to do so in college. And then the state universities have a similar scholarship, and in-state tuition is about $8000, which is about what the HS comes to for the top-tier award. students who are willing to be frugal can absolutely graduate debt free.
I'm somehow vaguely embarrassed to say that I graduated in '95 debt free, because I never took out a loan. I never *needed* to - I went to the local commuter college, and the combination of Pell and state grants was enough to pay for it. That wasn't really all that long ago, and such things were possible, then. The question is, why did it stop being possible? Why can't my kids enjoy the same affordable education I did?!
I got forgiven the last $7k ish of my paltry $40k total in loans last year, in the second wave. Last went to school in 1997.
And I got a refund for overpayment of about $5k, which went toward my kids loans.
I had this almost out of body experience, thinking back on how fucking broke we were for decades, and the screaming fights we had about money and how far that FUCKING $150 a month would have gone to help things. It's a weird feeling, almost as strong as the death of someone close. In many ways it was similar, like carving off part of my family's life over 10 years, that were can't get back.
Almost got divorced a couple times over money.
And my out of body experience started with my own life, but took off when I thought about the millions of people suffering like we did, and much worse than us.
Just for lack of money.
This society is fucked up. The people in power perpetuating the status quo are literally evil people of the highest order.
I can say now, after years of struggle, finally having actually enough income to never worry is life changing. I wish nothing more than that, and a peaceful existence, for everyone.
If you look at the way student loans are structured, who is harmed if they are 100% forgiven? What's the BFD? Might even help the economy. People will have more money to buy other stuff, creating more jobs. Republicans oppose this and other programs to help people for only one reason... they'
If anyone was paying attention, you may have noticed that after student loans became more available, tuition costs skyrocketed. When I attended the local community college in 1969, tuition for a full course load was $374.00/semester. AT the very same community college in 2024, the cost is now close to $5,000/semester Could there have been price gouging by institutions of higher learning? NAH!! Say it ain't so!
Educational institutions do have a noise for sniffing out revenue opportunities and that is part of the increase in cost. However, it is also the case that most states have shifted much the cost of higher education from direct state funding to tuition. (And most colleges universities offer substantial discounts/scholarships from the list price.) Thus there is more to the story than price gouging.
I can't offer you a good breakdown as to how each of these explanations for increased costs affect the total.
I was one of those people who applied in 2017 for loan forgiveness, after making 120 consecutive monthly loan payments, only to be told that I had the wrong *kind* of student loan. Finally, after making another 6 years of monthly payments, my remaining $11k balance was forgiven last year. Thank you Joe Biden.
Took me almost a year for the refund to even show up on the account. They gave me an effective date that I satisfied my 120 payments or whatever that was 2016. I had been paying up until 2023 (kept paying through Covid pause just to be done asap)
I feel like celebrating on behalf of all you Americans who have had your student debt forgiven. Quick! Somebody get me a nice MLT, a mutton, lettuce, and tomato sandwich when the mutton is nice and lean and the tomato is ripe.
Betsy DeVos was good at some things, like directing government funds to her and her family. The DeVos backed Bethany Christian Services got plenty of money from the government to house migrant children. That's actually the only reason she took the job, except her hope they could end public education forever.
DeVos tried her god damn best to destroy public education in Michigan through her relentless pushing (read throwing a shit ton of money at it) of charter schools. The more Christian Fascist the better.
Considering, like most appointees of the proven rapist senile Old Man Trump, her main qualification was not knowing anything about the subject she was put in charge of, it is not a surprise her MAGA qualification was that she knows how to grift.
Many, many years ago, I read an article about how fantastically successful the WWII G.I. Bill was in that it created a middle class that essentially didn't exist before the war. The by-product was that it created a class which paid more in taxes since their economic status had vastly improved dramatically.
Why the hell can't we look at this loan forgiveness program in the same way. Educated people earn more and pay more in taxes. It's not like they are getting off the hook in the manner of Donald Trump.
I get so mad when I hear people complain that they had to pay their loans and never got forgiveness or a friend who complained but had a total free ride because her family had the money to pay and classes were not nearly the costs in the 60's like they have been in later generations.
I never got to go to college because we had no money at all but that doesn't mean others should be punished because of my family poverty. SMDH.
Another problem is states have plugged budget shortfalls by cutting higher education funding for decades. Then promising to put it back when the economy improved, but they never did. Add in the explosion in administrative positions instead of teaching positions in universities and cost to students has greatly increased. But the public service loan forgiveness program is a big step forward, especially since teachers and some health care workers are underpaid. But the GOP, after passing the program, has done everything possible to sabotage it.
I also have hypothetical friends.
I remember reading a discussion about the Hebrew tradition of Jubilee, which was a form of debt forgiveness. It was mentioned that Jubilee basically forgave government debt and had the purpose of freeing up civilians to take on new debt (ie buying things) that would stimulate the economy. This is exactly the reason student loan debt should be forgiven: to keep the economy turning.
"...don't don't be Betsy De Vos"
WORDS TO LIVE BY
It seems there is great confusion among a sizable amount of the population, and many "office holders" about the difference between "socialism" and social welfare programs which are funded by the legitimate taxation of capitalist enterprise.
Got MY PSLFP squared away about 6 mo ago after an earlier default when life was disrupted by a new job and moving across the country with very little spending money and a handoff to a defaulter's servicer who tacked on a very hefty-hefty fee.
Ta, Dok. You got your byline back! I wish I believed in hell so I could wish Betsy Wetsy DeVos there, along with her maybe-even-more-fucked-up brother. Civilized countries educate their kids without putting them into debt. When will our country learn?
One of the things this state does right is make it possible for students to earn a qualifying scholarship by being diligent in high school, and continuing to do so in college. And then the state universities have a similar scholarship, and in-state tuition is about $8000, which is about what the HS comes to for the top-tier award. students who are willing to be frugal can absolutely graduate debt free.
I'm somehow vaguely embarrassed to say that I graduated in '95 debt free, because I never took out a loan. I never *needed* to - I went to the local commuter college, and the combination of Pell and state grants was enough to pay for it. That wasn't really all that long ago, and such things were possible, then. The question is, why did it stop being possible? Why can't my kids enjoy the same affordable education I did?!
Administrator salaries and sportsball, pretty much.
I got forgiven the last $7k ish of my paltry $40k total in loans last year, in the second wave. Last went to school in 1997.
And I got a refund for overpayment of about $5k, which went toward my kids loans.
I had this almost out of body experience, thinking back on how fucking broke we were for decades, and the screaming fights we had about money and how far that FUCKING $150 a month would have gone to help things. It's a weird feeling, almost as strong as the death of someone close. In many ways it was similar, like carving off part of my family's life over 10 years, that were can't get back.
Almost got divorced a couple times over money.
And my out of body experience started with my own life, but took off when I thought about the millions of people suffering like we did, and much worse than us.
Just for lack of money.
This society is fucked up. The people in power perpetuating the status quo are literally evil people of the highest order.
I can say now, after years of struggle, finally having actually enough income to never worry is life changing. I wish nothing more than that, and a peaceful existence, for everyone.
If you look at the way student loans are structured, who is harmed if they are 100% forgiven? What's the BFD? Might even help the economy. People will have more money to buy other stuff, creating more jobs. Republicans oppose this and other programs to help people for only one reason... they'
re just plain fukkin' MEAN!
If anyone was paying attention, you may have noticed that after student loans became more available, tuition costs skyrocketed. When I attended the local community college in 1969, tuition for a full course load was $374.00/semester. AT the very same community college in 2024, the cost is now close to $5,000/semester Could there have been price gouging by institutions of higher learning? NAH!! Say it ain't so!
Educational institutions do have a noise for sniffing out revenue opportunities and that is part of the increase in cost. However, it is also the case that most states have shifted much the cost of higher education from direct state funding to tuition. (And most colleges universities offer substantial discounts/scholarships from the list price.) Thus there is more to the story than price gouging.
I can't offer you a good breakdown as to how each of these explanations for increased costs affect the total.
"Yes, Junior, I sweah!"
I was one of those people who applied in 2017 for loan forgiveness, after making 120 consecutive monthly loan payments, only to be told that I had the wrong *kind* of student loan. Finally, after making another 6 years of monthly payments, my remaining $11k balance was forgiven last year. Thank you Joe Biden.
you should get s refund for all the excess payments
I thought so too, but no.
Took me almost a year for the refund to even show up on the account. They gave me an effective date that I satisfied my 120 payments or whatever that was 2016. I had been paying up until 2023 (kept paying through Covid pause just to be done asap)
I knew I had 7 years of over payment.
Why...that sounds like "sochulisms"
You say that like it's a bad thing..
11 MONTHS TO GO AND THIS WILL BE ME, STATE WILLING
I feel like celebrating on behalf of all you Americans who have had your student debt forgiven. Quick! Somebody get me a nice MLT, a mutton, lettuce, and tomato sandwich when the mutton is nice and lean and the tomato is ripe.
"Have fun storming the castle."
I'm feeling too "mostly dead" to be storming the castle right now.
You don't just so happen to have a chocolate-coated miracle pill, do you?
I *am* a chocolate-coated miracle pill.
I actually have no idea what I mean by that.
LIAR! LIAAAAAAR!
[Nibbles chocolate off of thumb]
I’m sure it’s pronounced tomahto, right?
It's a big fuckin deal!!
You are welcome to all the mutton there is...
BTW -just made the sausage rolls (they are in the over). Looking forward to them as the temperature is dropping and expect snow this evening.
I hope you enjoy them as much as I do.
Betsy DeVos was good at some things, like directing government funds to her and her family. The DeVos backed Bethany Christian Services got plenty of money from the government to house migrant children. That's actually the only reason she took the job, except her hope they could end public education forever.
Don’t she resign post Jan 6th
Yes.
She needs a new, far lower, ring of Hell. STAT!
I really don't want to believe people are born evil but the GOP keeps testing me. Get behind me Satan!
DeVos tried her god damn best to destroy public education in Michigan through her relentless pushing (read throwing a shit ton of money at it) of charter schools. The more Christian Fascist the better.
Considering, like most appointees of the proven rapist senile Old Man Trump, her main qualification was not knowing anything about the subject she was put in charge of, it is not a surprise her MAGA qualification was that she knows how to grift.
Wilbur Ross enters the chat. And many more
It always amazes me when someone who home schooled their kids get elected to a public school board.
Many, many years ago, I read an article about how fantastically successful the WWII G.I. Bill was in that it created a middle class that essentially didn't exist before the war. The by-product was that it created a class which paid more in taxes since their economic status had vastly improved dramatically.
Why the hell can't we look at this loan forgiveness program in the same way. Educated people earn more and pay more in taxes. It's not like they are getting off the hook in the manner of Donald Trump.
I get so mad when I hear people complain that they had to pay their loans and never got forgiveness or a friend who complained but had a total free ride because her family had the money to pay and classes were not nearly the costs in the 60's like they have been in later generations.
I never got to go to college because we had no money at all but that doesn't mean others should be punished because of my family poverty. SMDH.
Another problem is states have plugged budget shortfalls by cutting higher education funding for decades. Then promising to put it back when the economy improved, but they never did. Add in the explosion in administrative positions instead of teaching positions in universities and cost to students has greatly increased. But the public service loan forgiveness program is a big step forward, especially since teachers and some health care workers are underpaid. But the GOP, after passing the program, has done everything possible to sabotage it.
John Oliver had an amazing segment on this subject from dicey loans to the reason why they are so desperately needed now.