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Author Topic: Cancel student debt  (Read 18172 times)


GGGG

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Re: Cancel student debt
« Reply #1 on: February 10, 2018, 03:13:10 PM »
Well the tax cuts weren't really about stimulating the economy.

But outside of that, this is a much better idea than that was.

GooooMarquette

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Re: Cancel student debt
« Reply #2 on: February 10, 2018, 03:53:56 PM »
The concept is good, but with an already strong economy plus the little boost from the tax cuts, it would send inflation through the roof.

WarriorDad

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Re: Cancel student debt
« Reply #3 on: February 10, 2018, 05:37:23 PM »
http://nymag.com/daily/intelligencer/2018/02/lets-cancel-everyones-student-debt-for-the-economys-sake.html

Taking loans is part of life, start canceling them and you do nothing but plant the seed that this is the new normal.  What are you going to do for all those millions that paid their student loans?  My one child has student loans at MU right now  Another child elsewhere.  Not a good idea in my opinion. 

As much as I hate the tax cuts, I cannot deny the extra $380 we saw this month between our two paychecks was a nice benefit. For now.
“No one is more hated than he who speaks the truth.”
— Plato

#UnleashSean

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Re: Cancel student debt
« Reply #4 on: February 10, 2018, 05:52:41 PM »
Taking loans is part of life, start canceling them and you do nothing but plant the seed that this is the new normal.  What are you going to do for all those millions that paid their student loans?  My one child has student loans at MU right now  Another child elsewhere.  Not a good idea in my opinion. 

As much as I hate the tax cuts, I cannot deny the extra $380 we saw this month between our two paychecks was a nice benefit. For now.

We've known as a society for years that the student loan crap was unstable. It's ridiculous the amounts people have to pay to go through college. Just look at the statistical difference between the 70s and now. It's criminal. Forgive student loan. Allow people in their 20s and 30s to have money to spend.

MUBurrow

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Re: Cancel student debt
« Reply #5 on: February 10, 2018, 05:59:57 PM »
nm
« Last Edit: February 10, 2018, 06:09:18 PM by MUBurrow »

forgetful

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Re: Cancel student debt
« Reply #6 on: February 10, 2018, 06:02:37 PM »
As much as I hate the tax cuts, I cannot deny the extra $380 we saw this month between our two paychecks was a nice benefit. For now.

I keep seeing people state things like this.  As I understood it, the tax tables for witholding didn't come until late January, and wouldn't be applied until the February paycheck.

So how are people seeing all this "extra money". 

Hards Alumni

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Re: Cancel student debt
« Reply #7 on: February 10, 2018, 06:03:06 PM »
Taking loans is part of life, start canceling them and you do nothing but plant the seed that this is the new normal.  What are you going to do for all those millions that paid their student loans?  My one child has student loans at MU right now  Another child elsewhere.  Not a good idea in my opinion. 

As much as I hate the tax cuts, I cannot deny the extra $380 we saw this month between our two paychecks was a nice benefit. For now.

Found Chicos!

GGGG

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Re: Cancel student debt
« Reply #8 on: February 10, 2018, 06:10:03 PM »
Taking loans is part of life, start canceling them and you do nothing but plant the seed that this is the new normal.  What are you going to do for all those millions that paid their student loans?  My one child has student loans at MU right now  Another child elsewhere.  Not a good idea in my opinion. 

As much as I hate the tax cuts, I cannot deny the extra $380 we saw this month between our two paychecks was a nice benefit. For now.


Be careful if you itemize.  Withholding tables are based on the standard deduction.  And if you itemize in a high tax state (Wisconsin, Illinois), considering the $10,000 cap that will be placed on the SALT deduction, you may find yourself with significant tax due next year.

warriorchick

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Re: Cancel student debt
« Reply #9 on: February 10, 2018, 06:54:36 PM »
Canceling student loans isn't fair to all the people who realized that getting deep into debt for their education was not a good idea and made other plans.

Why should someone who exhausted their savings and commuted from home to get a business degree at a state school subsidize someone who took out $200K in loans to get their PhD in Slavic Studies from an Ivy?
Have some patience, FFS.

GGGG

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Re: Cancel student debt
« Reply #10 on: February 10, 2018, 07:03:12 PM »
Canceling student loans isn't fair to all the people who realized that getting deep into debt for their education was not a good idea and made other plans.

Why should someone who exhausted their savings and commuted from home to get a business degree at a state school subsidize someone who took out $200K in loans to get their PhD in Slavic Studies from an Ivy?


Well because it would stimulate the economy.  That's the reason we just gave tax cuts to the people who least need them right?

tower912

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Re: Cancel student debt
« Reply #11 on: February 10, 2018, 07:21:49 PM »
I have the same ambivalence that I have toward tax cuts, mortgage exemptions, and the like.     My house is paid off.   I managed my finances so that my daughter is finishing up her masters in Occupational Therapy with $5k in student loans.    So...... meh.
    A potential benefit would be the return of general practitioners in the medical field, perhaps even in rural and impoverished areas.   And, I do believe in universal secondary education and this could be a step towards that.    It would send inflation through the roof, especially with the increased demand for housing.       So, good/bad.   
Luke 6:45   ...A good man produces goodness from the good in his heart; an evil man produces evil out of his store of evil.   Each man speaks from his heart's abundance...

It is better to be fearless and cheerful than cheerless and fearful.

WarriorDad

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Re: Cancel student debt
« Reply #12 on: February 10, 2018, 07:29:27 PM »
Kids that pay for their own school with student loans, or paying their way through jobs perform better.  This is backed up in the literature.  A theory my parents ascribed to, and one we do with our kids. We help, but they are on the hook for some. When spending your own money they value it more, because they don't want to waste it knowing they have to pay it back. Great life lesson.

http://kahlerfinancial.com/financial-awakenings/weekly-column/give-kids-the-gift-of-college-success


https://www.insidehighered.com/news/2013/01/14/study-finds-increased-parental-support-college-results-lower-grades

“No one is more hated than he who speaks the truth.”
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4everwarriors

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Re: Cancel student debt
« Reply #13 on: February 10, 2018, 07:37:48 PM »
So, G.T.S.T., hey?
"Give 'Em Hell, Al"

🏀

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Re: Cancel student debt
« Reply #14 on: February 10, 2018, 07:41:29 PM »
Hell, no.

WarriorDad

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Re: Cancel student debt
« Reply #15 on: February 10, 2018, 08:17:42 PM »
I keep seeing people state things like this.  As I understood it, the tax tables for witholding didn't come until late January, and wouldn't be applied until the February paycheck.

So how are people seeing all this "extra money".

We got paid yesterday, starting to hit people now.  My concern is this helps the GOP in Nov to stem their tide.  A blue wave is coming in Nov, but it may not be as blue because of this game they are playing, but I am not going to give the money back even if I disagree with it.  I'm going off what my wife said her incremental was without reviewing the pay stub, so it is possible she is overstating based on something else.  Her company also does bonuses around this time of year.
“No one is more hated than he who speaks the truth.”
— Plato

MUBBau

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Re: Cancel student debt
« Reply #16 on: February 10, 2018, 08:27:09 PM »
Nah, I’m down to my last $95 owed on my loans

MUBurrow

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Re: Cancel student debt
« Reply #17 on: February 10, 2018, 08:37:35 PM »
.

Babybluejeans

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Re: Cancel student debt
« Reply #18 on: February 10, 2018, 09:19:05 PM »
We got paid yesterday, starting to hit people now.  My concern is this helps the GOP in Nov to stem their tide.  A blue wave is coming in Nov, but it may not be as blue because of this game they are playing, but I am not going to give the money back even if I disagree with it.  I'm going off what my wife said her incremental was without reviewing the pay stub, so it is possible she is overstating based on something else.  Her company also does bonuses around this time of year.

Your posts sound an awful lot like a conservative pretending to be a dem. Tone is totally off. Do better.

jesmu84

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Re: Cancel student debt
« Reply #19 on: February 10, 2018, 09:24:29 PM »
So, tax cuts for the top are okay because of the myth that it will stimulate the economy. But ridding loans to stimulate the economy - which it absolutely would accomplish do by increasing disposable income - is unfathomable. Crazy.

Tugg Speedman

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Re: Cancel student debt
« Reply #20 on: February 10, 2018, 09:39:03 PM »
If we agree what student debt is holding back the economy ... then the cause is tuition is too high.

How about we forcibly cut everyone's salary at colleges and universities 30% in order to make it affordable and not require this much debt.

This is really the same thing as canceling student debt ... forcing someone other than the student to take a loss.

Badgerhater

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Re: Cancel student debt
« Reply #21 on: February 10, 2018, 09:45:38 PM »
Canceling student loans will escalate the cost of education  even further. Colleges will have zero incentive to do so.

There is free education out there...its called the military.

Connect free ed to more civic contribution.  Never give something so valuable for nothing.

Lennys Tap

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Re: Cancel student debt
« Reply #22 on: February 10, 2018, 10:02:53 PM »
Well the tax cuts weren't really about stimulating the economy.

But outside of that, this is a much better idea than that was.

Let's cancel all credit card debt and mortgage debt while were at it! Moral hazard is a myth! Up the revolution, comrade!

Universities create phony, no job, no future disciplines, charge naive young people hundreds of thousands for useless degrees. All that's left to show for it is a pile of student debt that can't be repaid. God forbid we hold the schools or students responsible for the mess that's enriched the former at the expense of the latter - instead, let's just tear up the contracts and carry on.

Anyone who equates a competitive tax rate for our corporations or a slightly lower rate of confiscation of people's earned income with non payment of debts freely assumed is a total moron.

jesmu84

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Re: Cancel student debt
« Reply #23 on: February 10, 2018, 10:07:30 PM »
Those who benefit from the recent tax cuts also benefit from high tuition/student loans. I'm sure it's a total coincedince

Also.. the economy!!!!

Tugg Speedman

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Re: Cancel student debt
« Reply #24 on: February 10, 2018, 10:21:04 PM »
Those who benefit from the recent tax cuts also benefit from high tuition/student loans. I'm sure it's a total coincedince

Also.. the economy!!!!

Please explain