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Whitehouse

He’s being challenged because he’s so angrily (and hypocritically) adamant that student loans shouldn’t be forgiven whilst he happily had his government loan forgiven.

Not because he took the loan in the first place or accepted the forgiveness in a vacuum.
 
Wakeforest22890 said:
I think the criticism is whether or not specific loans should be forgiven not whether folks should’ve taken PPP money.
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Some folks should not have taken the money. It was intended for a specific purpose and it was very much abused by some... of the very best people.
 
WFcatamount22 said:
I mean in Reffs defense here (lord help me sweet 6lb 6oz sweet baby Jesus) if the government was handing out the PPP loans was he not suppose to take the free money? It’s not like he or anyone else voted on that.
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No one said it was illegal. But considering his boards personality is built in large part on mainlining RW cable news greatest hits like hating on government spending, welfare queens, general Covid denial, bootstraps, etc, and now getting on the soapbox of student loan debt forgiveness is egregiously wrong…there’s a word for someone who says all that and grabs a handout.

Plus he probably didn’t really need it but got in the front of the line anyway.
 
mako1331 said:
Wow. Like how do you even post again after that?
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Angus is still posts so it’s clear that some people have no shame.
WFcatamount22 said:
I mean in Reffs defense here (lord help me sweet 6lb 6oz sweet baby Jesus) if the government was handing out the PPP loans was he not suppose to take the free money? It’s not like he or anyone else voted on that.
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The problem here is that the Reff is applauding the SCOTUS decision and ridiculing student loan borrowers while quietly accepting a loan forgiveness for nearly twice the max amount of money. It’s the hypocrisy.
 
Wakeforest22890 said:
I think the criticism is whether or not specific loans should be forgiven not whether folks should’ve taken PPP money.
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In the case of PPP loans, they specifically outlined a forgiveness program, which clearly affects the decision to accept PPP loans in the first place. Taking a loan with the stipulation that it might be forgiven is not the same as taking one with no such provision. The issue I've got with comparing PPP to student loan forgiveness argument is that the former actually had a legally defined path for forgiveness included with the passage of the bill that funded it.

Labeling PPP as "loans" was an obvious misnomer. They were grants/bailouts and always intended to be forgiven, and it was clearly outlined as such when people took the money. I don't view it as an apples to apples comparison when throwing around charges of hypocrisy.

I absolutely hate what has become of student loans. I don't entirely agree with forgiveness for various reasons, however I wanted it to pass because I know multiple close friends who it would have made a major difference in their quality of life.
 
Liquid Karma said:
In the case of PPP loans, they specifically outlined a forgiveness program, which clearly affects the decision to accept PPP loans in the first place. Taking a loan with the stipulation that it might be forgiven is not the same as taking one with no such provision. The issue I've got with comparing PPP to student loan forgiveness argument is that the former actually had a legally defined path for forgiveness included with the passage of the bill that funded it.

Labeling PPP as "loans" was an obvious misnomer. They were grants/bailouts and always intended to be forgiven, and it was clearly outlined as such when people took the money. I don't view it as an apples to apples comparison when throwing around charges of hypocrisy.

I absolutely hate what has become of student loans. I don't entirely agree with forgiveness for various reasons, however I wanted it to pass because I know multiple close friends who it would have made a major difference in their quality of life.
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Yeah I think the major issue, which is just hindsight, is that the expediency of the program intentionally built in fraud. Aka they wanted to get $$$ out as quickly as possible acknowledging that that would have higher fraud than if it took longer to roll out. If that's a bug or a feature I guess is up for conversation
 
LK is spot on which makes it such a debatable and divisive issue. I know many who would benefit greatly from the student loan forgiveness and others like my son who {fortunately) would love to have the benefit but doesn't really need it. Would that propel everyone who really don't need it to not take it? Doubt it. Not to mention the anger it has created with those who struggled and either never took the loans or already repaid what they owed. Knowing the cost of higher education today there can't be too many in that category but they do exist.
 
Our firm toyed around with applying for the PPA, but we are a small specialty company and we knew that our revenue wasn't going to be affected at all, so we passed.. Probably a dumb decision after seeing the money grab it became but oh well
 
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Liquid Karma said:
In the case of PPP loans, they specifically outlined a forgiveness program, which clearly affects the decision to accept PPP loans in the first place. Taking a loan with the stipulation that it might be forgiven is not the same as taking one with no such provision. The issue I've got with comparing PPP to student loan forgiveness argument is that the former actually had a legally defined path for forgiveness included with the passage of the bill that funded it.

Labeling PPP as "loans" was an obvious misnomer. They were grants/bailouts and always intended to be forgiven, and it was clearly outlined as such when people took the money. I don't view it as an apples to apples comparison when throwing around charges of hypocrisy.

I absolutely hate what has become of student loans. I don't entirely agree with forgiveness for various reasons, however I wanted it to pass because I know multiple close friends who it would have made a major difference in their quality of life.
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Yeah, but if you grabbed nearly $40k from the PPP, shitting on student loan borrowers that are eager for relief from loans they agreed to at 18 years old is pretty fucking pathetic.
 
Yeah when it crosses into shitting on the borrowers THAT is a problem. My issue is really with trying to compare/contrast PPP with student loan forgiveness.

There really isn't a clean solution that assuage the frustrations of those who paid their loans off before this proposal.
 
ChrisL68 said:
Our firm toyed around with applying for the PPA, but we are a small specialty company and we knew that our revenue wasn't going to be effected at all, so we passed.. Probably a dumb decsion after seeing the money grab it became but oh well
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Strange thing to do the right thing because it's the right thing to do.
 
Liquid Karma said:
Yeah when it crosses into shitting on the borrowers THAT is a problem. My issue is really with trying to compare/contrast PPP with student loan forgiveness.

There really isn't a clean solution that assuage the frustrations of those who paid their loans off before this proposal.
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I think what assuages their frustration is that they don’t have debt to pay off anymore

just because other people are getting a benefit doesn’t mean it’s skin off their back
 
I think the “I didn’t have mine forgiven so you shouldn’t either” is such an elementary argument. The cost of education has skyrocketed - even since I graduated from WF in 07 - and the cost of living has only outpaced that debt burden. Tack on a more competitive enrollment process in higher education (the more high paying jobs), it’s a rigged game to obliterate any semblance of a middle to high-middle class in the long run. How we got here is a muddled mess - but just because we are here doesn’t mean we shouldn’t dig ourselves out.

That said, credit to the administration for trying something - but not sure a 20K credit would do a whole lot for most borrowers. Surely, helps a lot of folks. But that’s just not the solution in my opinion.

I think a great first step would be to remove interest payments from these things. Most of my colleagues who began repayment 10 years ago haven’t touched their bottom line. But I’m not an economist nor a politician - which may make any of us more capable of a solution. But I digress.

At this rate, I’ll be the last in my gene pool to attend MSD.
 
deac03 said:
That said, credit to the administration for trying something - but not sure a 20K credit would do a whole lot for most borrowers. Surely, helps a lot of folks. But that’s just not the solution in my opinion.
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It was a transparent attempt to buy votes.
I don't think they meet tough resistance if they had attempted to cap interest or lowered the caps on income based repayment and figure that is the likely path forward.
 
Anyone that can show they've paid more in interest than they borrowed originally can immediately get forgiveness based on the predatory nature of the original loans.
 
Liquid Karma said:
It was a transparent attempt to buy votes.
I don't think they meet tough resistance if they had attempted to cap interest or lowered the caps on income based repayment and figure that is the likely path forward.
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What is any campaign promise but a “transparent attempt to buy votes?” That’s what a platform is for, to get people to vote for you.
 
And it’s not like it was a payment just out of nowhere. It’s something that politicians have proposed for years, and a campaign promise that Biden ran on.
 
Handing businesses easily forgivable loans in an election year wasn't a transparent attempt to buy votes.

But attempting to unshackle poor and middle class Americans from predatory student loans midway through the first term was?
 
PhDeac said:
Handing businesses easily forgivable loans in an election year wasn't a transparent attempt to buy votes.
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Overwhelmingly bipartisan and created via the legislative process as a reaction to an unprecedented crisis and passed on March 27th.

vs...

a half assed attempt to fulfill a campaign promise that circumvented the legislative process 3 months before the election.

They knew it had a near zero chance to survive a legal challenge but needed the juice for the midterms so they went with it anyway.
 
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