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MUScoop => The Superbar => COVID-19 => Topic started by: jesmu84 on March 19, 2020, 06:38:03 PM

Title: Senate Dems proposal to pause student loans/Pay $10k
Post by: jesmu84 on March 19, 2020, 06:38:03 PM
https://finance.yahoo.com/news/senate-democrats-to-cancel-student-loan-payments-and-cancel-10000-in-debt-164550986.html (https://finance.yahoo.com/news/senate-democrats-to-cancel-student-loan-payments-and-cancel-10000-in-debt-164550986.html)

That would be a LOT of money
Title: Re: Senate Dems proposal to pause student loans/Pay $10k
Post by: mu_hilltopper on March 20, 2020, 12:30:00 PM
I edited the title from "Federal Government" .. this is just a proposal from Senate Democrats.

I would imagine the chances it would pass are zero point zero with the current Senate makeup.
Title: Re: Senate Dems proposal to pause student loans/Pay $10k
Post by: JWags85 on March 20, 2020, 01:06:44 PM
I bet it would be like the interest deduction where there is an income cutoff threshold.  Thus disqualifying most people who got good paying jobs after master's degrees and anyone who climbed the ladder or moved to a high COL city post-undergrad while still paying loans.
Title: Re: Senate Dems proposal to pause student loans/Pay $10k
Post by: Hards Alumni on March 20, 2020, 01:37:48 PM
I bet it would be like the interest deduction where there is an income cutoff threshold.  Thus disqualifying most people who got good paying jobs after master's degrees and anyone who climbed the ladder or moved to a high COL city post-undergrad while still paying loans.

My student loans are done in September... and I don't need the money.
Title: Re: Senate Dems proposal to pause student loans/Pay $10k
Post by: Hards Alumni on March 20, 2020, 02:23:51 PM
Of course this is a democrat proposal...

Too bad you found this forum.  We were doing so well.
Title: Re: Senate Dems proposal to pause student loans/Pay $10k
Post by: JWags85 on March 20, 2020, 02:26:22 PM
My student loans are done in September... and I don't need the money.

Don't dislocate your shoulder patting yourself on the back  ::)
Title: Re: Senate Dems proposal to pause student loans/Pay $10k
Post by: Coleman on March 20, 2020, 02:35:27 PM
My student loans are done in September... and I don't need the money.

Cool beans
Title: Re: Senate Dems proposal to pause student loans/Pay $10k
Post by: Hards Alumni on March 20, 2020, 03:53:41 PM
Don't dislocate your shoulder patting yourself on the back  ::)

I mean, I graduated 16 years ago.

So I should feel bad?
Title: Re: Senate Dems proposal to pause student loans/Pay $10k
Post by: JWags85 on March 20, 2020, 04:23:05 PM
I mean, I graduated 16 years ago.

So I should feel bad?

Great that you're basically finished.  I'm not sure what that added to the discussion at all other than to boast and/or disparage others not in your position.
Title: Re: Senate Dems proposal to pause student loans/Pay $10k
Post by: Hards Alumni on March 20, 2020, 05:55:34 PM
Great that you're basically finished.  I'm not sure what that added to the discussion at all other than to boast and/or disparage others not in your position.

Oh, just that I was agreeing with you that not everyone will need it, but everyone should be able to take it.  Sorry for not being clear, I have been on the bandwagon for a while that there should be some degree of debt forgiveness.  I'm not for 100%, but its there.  I'll just never see any of the cash at this point.  And I will be fine for it.

Sorry, it really wasn't clear what I meant.
Title: Re: Senate Dems proposal to pause student loans/Pay $10k
Post by: jesmu84 on March 20, 2020, 06:11:26 PM
Oh, just that I was agreeing with you that not everyone will need it, but everyone should be able to take it.  Sorry for not being clear, I have been on the bandwagon for a while that there should be some degree of debt forgiveness.  I'm not for 100%, but its there.  I'll just never see any of the cash at this point.  And I will be fine for it.

Sorry, it really wasn't clear what I meant.

Thanks for taking a much more mature position on debt forgiveness than others.

"Well, I did it, so everyone else should have to as well!"
Title: Re: Senate Dems proposal to pause student loans/Pay $10k
Post by: GB Warrior on March 20, 2020, 07:38:52 PM
I worked like hell to pay mine off in a little over 5. And you know what? I don't care if we support the base of individuals that would like nothing more than to put money back into the economy.

In times like these, it means allowing them to scrape by. When things are good? Well that's a whole generation of people who might want to buy my house and afford it. Downstream effects of alleviating some of the pain from an indebted generation. Liz is right, Y'all.
Title: Re: Senate Dems proposal to pause student loans/Pay $10k
Post by: Hards Alumni on March 20, 2020, 08:02:04 PM
I worked like hell to pay mine off in a little over 5. And you know what? I don't care if we support the base of individuals that would like nothing more than to put money back into the economy.

In times like these, it means allowing them to scrape by. When things are good? Well that's a whole generation of people who might want to buy my house and afford it. Downstream effects of alleviating some of the pain from an indebted generation. Liz is right, Y'all.

Trickle up?
Title: Re: Senate Dems proposal to pause student loans/Pay $10k
Post by: JWags85 on March 20, 2020, 08:11:53 PM
Oh, just that I was agreeing with you that not everyone will need it, but everyone should be able to take it.  Sorry for not being clear, I have been on the bandwagon for a while that there should be some degree of debt forgiveness.  I'm not for 100%, but its there.  I'll just never see any of the cash at this point.  And I will be fine for it.

Sorry, it really wasn't clear what I meant.

All good man. And I hear you. Even with plenty of loans myself, I’m not in favor of outright total forgiveness, but a portion like this isn’t unappealing, provided it’s not absurdly means tested.