• There has been a recent cluster of spammers accessing BARFer accounts and posting spam. To safeguard your account, please consider changing your password. It would be even better to take the additional step of enabling 2 Factor Authentication (2FA) on your BARF account. Read more here.

Student Loan Debt Forgiveness?

Eight percent of student loans are to private schools.

Those are not covered by this proposal.

I’m pretty sure this is a mistake. I think it’s 8% are private student loans, not necessarily to private schools? We might be looking at different data sets.

https://educationdata.org/student-loan-debt-by-state

Edit:

I think it’s important to note, that if this had gone to the root cause of ridiculous education costs, this would have had a lot more, if not unilateral support. But this is the prime example of kicking the cam down the road. “Education is expensive. Let’s hand out some money and keep the system profiting.”

Public schools made almost half a billion dollars in 19-20 school year. Why are they making money at all? All of that money should and needs to be turned around into reducing education costs.
 
Last edited:
Comment from reading OP and nothing else...

I paid off my loans too. Whoopee. The recent "tax cut" plan laid out by the previous presidential administration costs me $10k each year.

California is a tax exporting state. Our taxes go to pay for a lot of others peoples stuff that I don't care for. Since I'm a firm believer in education, I'm good with then spending my tax dollars on that.

It's much better than propping up the salaries of the homeless industrial complexes non-profit middle class society. You know, that guy who drives a Porsche in from Marin every day to "consult" for the non-profits. Him.

Frankly I'd rather have lower taxes. Would have been a turn of the tables for the Democrats to reverse the latest tax "cuts" that cost us more. But the government has never cut taxes for anyone but the super rich. So fine, give it to the people who tried to get an education.
 
Comment from reading OP and nothing else...

I paid off my loans too. Whoopee. The recent "tax cut" plan laid out by the previous presidential administration costs me $10k each year.

California is a tax exporting state. Our taxes go to pay for a lot of others peoples stuff that I don't care for. Since I'm a firm believer in education, I'm good with then spending my tax dollars on that.

It's much better than propping up the salaries of the homeless industrial complexes non-profit middle class society. You know, that guy who drives a Porsche in from Marin every day to "consult" for the non-profits. Him.

Frankly I'd rather have lower taxes. Would have been a turn of the tables for the Democrats to reverse the latest tax "cuts" that cost us more. But the government has never cut taxes for anyone but the super rich. So fine, give it to the people who tried to get an education.

Your tax dollars aren't being spent on education. They're being spent on people's loans.

Would be completely different if they gave everyone going to college 10K to begin with. That's more like a scholarship, which is a great thing.
 
I think it’s important to note, that if this had gone to the root cause of ridiculous education costs, this would have had a lot more, if not unilateral support. But this is the prime example of kicking the cam down the road. “Education is expensive. Let’s hand out some money and keep the system profiting.”

Public schools made almost half a billion dollars in 19-20 school year. Why are they making money at all? All of that money should and needs to be turned around into reducing education costs.

Do you mean like making community college, one of the main avenues to a 4-year degree free for anyone as of two years ago (in CA)?

I know you are just "asking questions" (and essentially throwing shade on the plan for your own obtuse reasons), but the overhead for K-16 education and facilities is massive. Converting parking lots to solar with charging stations, and upgrading 60+-year-old facilities would have been cake if Prop 13 didn't grenade funding long-term, and don't forget about basic pension liabilities for a mature workforce.

The mean age of K-12 teachers in our state is 49. We are massively overburdened as educators doing mental health and wellness, and social-emotional growth for all ages, and until covid, thought the populace had our back. School closures and mask mandates sure ripped that facade down quickly. Parents and the general public are way over-reliant on those of us that spend MANY more hours per day with their children than they do.

The benefit of public education, even if executed poorly, is incalculable. It's not hyperbole to say we are THE essential service. Of course, if you can afford private schooling for one or more kiddos over 18 years you can skip over the debate and stand on some exclusive anthill proclaiming moral superiority and separate but equal philosophies.

But that's not where 90% of Americans stand. So, debt relief. It's a good thing. It doesn't need strict scrutiny from laymen. As others here have said, business builds in huge failures 10X the impact of this plan and has for years. Still waiting for good-faith arguments against relieving average Americans of poorly structured predatory lending.
 
Your tax dollars aren't being spent on education. They're being spent on people's loans.

Would be completely different if they gave everyone going to college 10K to begin with. That's more like a scholarship, which is a great thing.


The loans are for education. In essence, it's a scholarship in arrears. No?
 
I know you are just "asking questions" (and essentially throwing shade on the plan for your own obtuse reasons), but t.

Yep, stopped reading right there…..
 
326 posts spread over 22 pages. I think all the main points were already made a while back and now we're just lobbing grenades at each other.
 
Be sure to post a pic of the beanie the seniors made you wear! :thumbup

ajaxhelper.jpg

Um, no beanie.
I was only a average student.
Worked 5 days a week since I was 15.
By the time I was a senior I took a zero period so I could leave at lunch to go to work. Thought I was on top of the world. I was fortunate to have a decent paying full time job right out of high school . Didn't go to college until I was 25.
By the way, I am all for the loan forgiveness. I think it is ridiculous the cost of college nowadays.
Education should be available to all who desire it.
DT
 
By the way, i wasn't anything special, most of my friends had the same type of work history.
DT
 
326 posts spread over 22 pages. I think all the main points were already made a while back and now we're just lobbing grenades at each other.

You're not wrong and I'm fine disagreeing but the energy some posts come off as the same mentality of saying "When you get pulled over, if you didn't do anything wrong, then you have nothing to worry about."

Incredibly different situation but basic surface level thinking as if there aren't other factors to consider worth discussing.
 
On top of that, outlaw private education. Public school is mandatory. Fund it with tax dollars not dependant on the wealth of a zip code. When the wealthy have to send their kids to school with the poor, the resources to educate everyone will be there.

I think federal financial aid should be available only to students at public, non-profit schools.
 
Mississippi, the state with the highest poverty levels in the nation, announced they will tax any student loan forgiveness as income

:laughing
 
Mississippi, the state with the highest poverty levels in the nation, announced they will tax any student loan forgiveness as income

:laughing

Maybe on state / private, but forgiveness on any federal student loans can't be taxed as income as of 2021 I thought?

edit - and since private / state ones aren't being forgiven as part of President Biden's plan, this is more of a symbolic gesture / null issue, no?
 
Maybe on state / private, but forgiveness on any federal student loans can't be taxed as income as of 2021 I thought?

Won't be taxed federally, some states have indicated they will be taxing it as state income.

Edit: debt forgiveness, in general, is traditionally considered as income. eg: if you default on your cc and you enter in agreement to pay 1/2 and wash the rest, you owe income taxes on what they washed for you.
 
Last edited:
Mississippi, the state with the highest poverty levels in the nation, announced they will tax any student loan forgiveness as income

:laughing

Talk about cutting off your nose to spite your face! :laughing
 
Back
Top