08-30-2022, 09:15 AM
08-30-2022, 09:15 AM
08-30-2022, 11:24 AM
I may have said this in this topic or another like it, but if this domino falls, then this may be pushed even farther by another disadvantaged group to the point where all Government owned student debt is forgiven. Then, what's to stop any unfairly perceived Government loan to follow suit? FHA mortgages, Small Business loans, whatever the good ole US of A is handing out. Maybe the Government shouldn't be in the loan business, they're not good at it. To paraphrase Andy Dufresne in Shawshank Redemption: "Perhaps it's time you tried another profession. You don't seem to be a very good thief".
08-30-2022, 12:58 PM
You get it. I don't see how this doesn't get challenged in court. It completely changes the power of the president.
08-30-2022, 01:11 PM
(08-30-2022, 12:58 PM)Lucky2Last Wrote: [ -> ]You get it. I don't see how this doesn't get challenged in court. It completely changes the power of the president.
Courts only intervene when a party is harmed.
08-30-2022, 04:37 PM
What a Shocker! Biden rewarding cronies!
Biden Uses Little-Known COVID Waiver To Write Off $9B In Student Loans For 150,000 Government, Nonprofit Workers
The Biden administration used a COVID-justified waiver to quietly transform a small student loan forgiveness program into an enormous scheme which can write off unlimited amounts of student loans for government workers and employees of nonprofits including activist think-tanks.
https://www.dailywire.com/news/biden-use...L8sZ9QwmS4
Biden Uses Little-Known COVID Waiver To Write Off $9B In Student Loans For 150,000 Government, Nonprofit Workers
The Biden administration used a COVID-justified waiver to quietly transform a small student loan forgiveness program into an enormous scheme which can write off unlimited amounts of student loans for government workers and employees of nonprofits including activist think-tanks.
https://www.dailywire.com/news/biden-use...L8sZ9QwmS4
08-30-2022, 04:47 PM
And there it is..
08-30-2022, 05:04 PM
(08-30-2022, 04:37 PM)The Drifter Wrote: [ -> ]What a Shocker! Biden rewarding cronies!
Biden Uses Little-Known COVID Waiver To Write Off $9B In Student Loans For 150,000 Government, Nonprofit Workers
The Biden administration used a COVID-justified waiver to quietly transform a small student loan forgiveness program into an enormous scheme which can write off unlimited amounts of student loans for government workers and employees of nonprofits including activist think-tanks.
https://www.dailywire.com/news/biden-use...L8sZ9QwmS4
So, is this 9 Billion part of the 'national debt' that we hear so much about? Asking sincerely. Intuitively, it seems that the government loses an income stream of future interest here, which is going to have to be made up elsewhere in the budget. On the other hand, if this forgiveness is taxable as income for the loan owners, then the government gets some of that money back right away, unless its pro-rated over some time period. And does any of this affect the total national debt?
$61,000 average per loan owner. Not sure where they derived that figure, or why. What bothers me is they are justifying it as fair because of low salaries compared to private companies. What is never taken in to account is the (usually) generous benefits packages offered government workers. Plus, it's easier to have a routine 9 to 5 life without a lot of work pressure. Sometimes, 10 to 2.
08-30-2022, 10:55 PM
WH won't say if Biden regrets taking nearly $1M from UPenn as students piled on debt
Biden didn't teach any regular classes in his tenure at UPenn
The White House won’t say if President Biden regrets taking nearly $1 million over three years from the University of Pennsylvania – for a gig that involved teaching no regular courses and whether that money would have been better used helping students avoid taking out massive loans.
https://www.foxnews.com/politics/wh-wont...piled-debt
Biden didn't teach any regular classes in his tenure at UPenn
The White House won’t say if President Biden regrets taking nearly $1 million over three years from the University of Pennsylvania – for a gig that involved teaching no regular courses and whether that money would have been better used helping students avoid taking out massive loans.
https://www.foxnews.com/politics/wh-wont...piled-debt
09-01-2022, 08:16 AM
E
The government is determined to waste our money. I will not turn it down when they give some back, either thru tax breaks, loan forgiveness or stimulus, I know I will use that money more efficiently then they will. This is especially true when thier asinine policies created the huge student loan cost in the first place.
(08-25-2022, 09:48 PM)EricC85 Wrote: [ -> ]I still think if your going down this road it should be tied to social security.
If you write off or cancel 20k in student loans deduct 20k from social security paid to that individual at retirement. That would lighten the demand on social security in the future, provide this "relief" they're claiming is needed and not cost the tax payers anything long term. Think of it as an advance on social security applied to their loans. In reality most of them won't see a dime of social security but pay into it most of there working lives anyway.
But the way it's being done now, hard no bad idea. And I have student loans I'm paying on. It'll cost me more in inflation then they're forgiving in the long run.
The government is determined to waste our money. I will not turn it down when they give some back, either thru tax breaks, loan forgiveness or stimulus, I know I will use that money more efficiently then they will. This is especially true when thier asinine policies created the huge student loan cost in the first place.
09-02-2022, 09:03 PM
Report: Higher Income Households to Get More Student Loan Debt Relief
igher income households will receive slightly more cancellation dollars in President Joe Biden's student-loan debt forgiveness plan, though more lower income households will see their student loan debt erased entirely, according to the JPMorgan Chase Institute.
https://www.newsmax.com/newsfront/studen...9nmGrGtTog
igher income households will receive slightly more cancellation dollars in President Joe Biden's student-loan debt forgiveness plan, though more lower income households will see their student loan debt erased entirely, according to the JPMorgan Chase Institute.
https://www.newsmax.com/newsfront/studen...9nmGrGtTog
09-02-2022, 10:05 PM
You didn't need a report for that. I posted the numbers like 4 days ago.
09-03-2022, 07:18 AM
(08-28-2022, 08:23 PM)Lucky2Last Wrote: [ -> ]Cool. At least more of our money is getting funneled up through this program. My gut tells me someone has to be skimming from the pot here, but I don't see how.
Now the Loan Servicers are trying to get borrowers to refinance their Direct Loans to private loans so they WON'T qualify for the loan forgiveness Those companies are scum.
09-03-2022, 03:40 PM
Man, if I was a dishonest person, I would sign up for college course locally, take out as many loans as I could, and then buy a new car or put extra payments down on my house. There is no incentive to ever pay off another student loan.
09-03-2022, 03:50 PM
This money will be spent as fraudulently as millions of COVID money was.
09-03-2022, 04:17 PM
(09-03-2022, 03:50 PM)americus 2.0 Wrote: [ -> ]This money will be spent as fraudulently as millions of COVID money was.
Why not? It's being fraudulently given out..
I actually used my covid money to help me climb outta debt lol
09-06-2022, 10:26 PM
Indiana Set to Confirm a Tax on Forgiven Student Loans
Indiana on Tuesday became the latest in a slew of states to confirm it will tax student loan forgiveness.
According to the Associated Press, on Tuesday, the Indiana Department of Revenue confirmed in an email that residents must list their forgiven loans as taxable income per Indiana law. The law follows the trend of other states, such as Mississippi and North Carolina.
https://www.newsmax.com/newsfront/indian...EnZl996ChM
Indiana on Tuesday became the latest in a slew of states to confirm it will tax student loan forgiveness.
According to the Associated Press, on Tuesday, the Indiana Department of Revenue confirmed in an email that residents must list their forgiven loans as taxable income per Indiana law. The law follows the trend of other states, such as Mississippi and North Carolina.
https://www.newsmax.com/newsfront/indian...EnZl996ChM
09-07-2022, 07:40 AM
(09-06-2022, 10:26 PM)The Drifter Wrote: [ -> ]Indiana Set to Confirm a Tax on Forgiven Student Loans
Indiana on Tuesday became the latest in a slew of states to confirm it will tax student loan forgiveness.
According to the Associated Press, on Tuesday, the Indiana Department of Revenue confirmed in an email that residents must list their forgiven loans as taxable income per Indiana law. The law follows the trend of other states, such as Mississippi and North Carolina.
https://www.newsmax.com/newsfront/indian...EnZl996ChM
Talk about voting yourself out of a job.
(09-03-2022, 03:40 PM)Lucky2Last Wrote: [ -> ]Man, if I was a dishonest person, I would sign up for college course locally, take out as many loans as I could, and then buy a new car or put extra payments down on my house. There is no incentive to ever pay off another student loan.
You do know that those student loan companies have the power of the government and that the IRS garnishes wages and Social Security checks to collect on student loans, yes? Oh, it seems that 87,000 new armed agents need something to do with all that ammo. There is no bankruptcy option and no aging out of student loan debt, they take by force until you die and then it's one of the first debts recovered from your estate in probate. Don't have a life insurance policy in your name when you die, your family won't get any of it.
09-07-2022, 09:56 AM
(09-07-2022, 07:40 AM)flsprtsgod Wrote: [ -> ](09-06-2022, 10:26 PM)The Drifter Wrote: [ -> ]Indiana Set to Confirm a Tax on Forgiven Student Loans
Indiana on Tuesday became the latest in a slew of states to confirm it will tax student loan forgiveness.
According to the Associated Press, on Tuesday, the Indiana Department of Revenue confirmed in an email that residents must list their forgiven loans as taxable income per Indiana law. The law follows the trend of other states, such as Mississippi and North Carolina.
https://www.newsmax.com/newsfront/indian...EnZl996ChM
Talk about voting yourself out of a job.
(09-03-2022, 03:40 PM)Lucky2Last Wrote: [ -> ]Man, if I was a dishonest person, I would sign up for college course locally, take out as many loans as I could, and then buy a new car or put extra payments down on my house. There is no incentive to ever pay off another student loan.
You do know that those student loan companies have the power of the government and that the IRS garnishes wages and Social Security checks to collect on student loans, yes? Oh, it seems that 87,000 new armed agents need something to do with all that ammo. There is no bankruptcy option and no aging out of student loan debt, they take by force until you die and then it's one of the first debts recovered from your estate in probate. Don't have a life insurance policy in your name when you die, your family won't get any of it.
I understand what you're saying. It's the logical way to think. I'm just saying our government isn't logical.
09-07-2022, 10:02 AM
(09-07-2022, 07:40 AM)flsprtsgod Wrote: [ -> ](09-06-2022, 10:26 PM)The Drifter Wrote: [ -> ]Indiana Set to Confirm a Tax on Forgiven Student Loans
Indiana on Tuesday became the latest in a slew of states to confirm it will tax student loan forgiveness.
According to the Associated Press, on Tuesday, the Indiana Department of Revenue confirmed in an email that residents must list their forgiven loans as taxable income per Indiana law. The law follows the trend of other states, such as Mississippi and North Carolina.
https://www.newsmax.com/newsfront/indian...EnZl996ChM
Talk about voting yourself out of a job.
(09-03-2022, 03:40 PM)Lucky2Last Wrote: [ -> ]Man, if I was a dishonest person, I would sign up for college course locally, take out as many loans as I could, and then buy a new car or put extra payments down on my house. There is no incentive to ever pay off another student loan.
You do know that those student loan companies have the power of the government and that the IRS garnishes wages and Social Security checks to collect on student loans, yes? Oh, it seems that 87,000 new armed agents need something to do with all that ammo. There is no bankruptcy option and no aging out of student loan debt, they take by force until you die and then it's one of the first debts recovered from your estate in probate. Don't have a life insurance policy in your name when you die, your family won't get any of it.
These days, facts have become disposable.
The 87,000 new agents are not armed. Only IRS special agents are armed. The IRS is hiring 2,100 new special agents, to make up for attrition.
09-07-2022, 10:59 AM
(09-07-2022, 10:02 AM)The Real Marty Wrote: [ -> ](09-07-2022, 07:40 AM)flsprtsgod Wrote: [ -> ]Talk about voting yourself out of a job.
You do know that those student loan companies have the power of the government and that the IRS garnishes wages and Social Security checks to collect on student loans, yes? Oh, it seems that 87,000 new armed agents need something to do with all that ammo. There is no bankruptcy option and no aging out of student loan debt, they take by force until you die and then it's one of the first debts recovered from your estate in probate. Don't have a life insurance policy in your name when you die, your family won't get any of it.
These days, facts have become disposable.
The 87,000 new agents are not armed. Only IRS special agents are armed. The IRS is hiring 2,100 new special agents, to make up for attrition.
Lol, out of what I wrote THAT was your choice of response? Those agents might not be armed today but have no doubts that they will as soon as politically tractable to do so.