(08-28-2022, 08:28 AM)Lucky2Last Wrote:

(08-27-2022, 09:10 PM)flsprtsgod Wrote: Here you go, have fun!

https://educationdata.org/student-loan-d...an%20debt.

I wasn't asking because I needed a link. I was asking because I wanted you to think about what you were saying. This may be an unnecessary tangent, because maybe you were being sarcastic, but almost EVERYONE in the US is in the work force. I don't believe that was what was being implied above. A very small percent of the "work force" is going to benefit from this. 

60% of all debt is owed by people who make over 85k a year. Almost 70% of the debt forgiveness will go to this group. That's insane. These people should be able to pay down their debts. People with the most debt are people with graduate degrees, and they average the top 10% of all earners in the US and yet the Democrats are already making a case that their debt needs to be paid as well. Most of them should be able to pay down their debts. The group with the lowest earnings happens to be under 29, which I know comes as a surprise to many people, but they haven't had a chance to finish paying down their debt yet or working their way up the corporate ladder. Only 13% of this money will go to the bottom 20% of earners in the US. Great job, Biden. 

Debt, in general, is too high. There are definitely groups that are victims of our broken university debt scam, but who made it that way? What are they doing to solve that problem? Having the President unilaterally make a decision to pay off millions of people who can pay their debt is ridiculous. We have a thoroughly broken university system that was broken by the Democrats. They didn't actually solve the problem that's creating the debt, and we are going to have this problem but worse in the future, because now people aren't going to pay back their debt. This is asinine. And, when the supreme court overturns this, which they will, they are going to tell everyone that Republicans are to blame. This is [BLEEP] from top to bottom. I am legitimately mad at people that support this, and that is rare for me.

I was simply pointing out that JIBs comment was a ridiculously broad generalization. The System is broken and discharging this debt does jack all to fix it, but I really don't care anymore. We print out billions of dollars to give away to corporations, foreign nations, and to socialize the losses of the extremely wealthy. At least giving this money away will help some actual working class people and accelerate the full collapse we need to happen.

---

(08-28-2022, 08:56 AM)Lucky2Last Wrote: I still haven't been able to see who is actually getting the money from this. I know at some point that the DOE assumed most loans, but how does this impact private companies? I want to know if anyone is profiting from this policy.

It doesn't, these funds are targeted to Direct Loans not private ones.

---