I am more concerned about the moral hazard created when edu institutions lose incentive to improve thier product and manage thier costs. Universities with BILLIONS in endowments should not be eligible to line up on the government trough
This is actually about bankrupting the Treasury...they dont need to "buy" votes. Voting is an illusion and the demons running the world own both "puppet choices" Any real candidate is suicided or sidelined. See, believe it or not, STUDENT LOAN debt from Millennials and now Get Z is the single largest ASSET on the Treasury's balance sheet. Once those debts are defaulted on/cancelled by the puppet, it bankrupts Treasury and Fed will need to "bail out" Treasury which ensures the dollar is confetti within a couple years- it already is as 95% of jobs no longer pay a wage able to support even a family of 4.
Hi Greg, Thank you for your work, There is no free lunch! To me your most memorable comment, "the Fed wants to be the buyer and lender of last resort" this is why corporately we do not accept plastic in the belief that:
“When a customer pulls out a credit card instead of cash, the small business owner loses money and the credit card companies win. …[E]very swipe counts because it continues to give power to the bankers instead of individuals and communities.” David A. Hill Vancouver
The Government is a mindless, irrational, destructive taxing machine. If you found a $10 Bill in the parking lot, and didn't report it as Income they could get you for Tax Evasion under the law.
It really pisses me off that O'Biden has, and continues to, forgive student loans! My husband, a career law enforcement officer who retired in 2019 as a Lt. Deputy from our local Sheriff's Department, decided to go to an online college in 2009. With his screwed up schedule there wasn't a way for him to physically attend a college. We're not rich and paying off his student loans has took a bite out of his "civil service career" budget. HOWEVER WE MADE THE PAYMENT EVERY MONTH, EVEN WHEN STUDENT LOAN PAYMENTS WERE PAUSED FOR YEARS DUE TO THE SCAMDEMIC IN 2020. I know we're blessed by God to not be in a financial situation as bad as most people. However now not only do we have to continue to pay off his student loans but BE TAXED EVEN MORE TO PAY FOR THOSE WHO WOULDN'T PAY THEIRS! I don't want to hear any bullshit about not being able to afford the astronomical monthly payments! Those payments can be lowered, according to your income and monthly expenses. ALL YOU NEEDED TO DO WAS CALL THE SERVICER OF YOUR STUDENT LOAN PAYMENTS. We did that and our payments went from almost $900 a month to $196 a month based upon what we could pay. I'M SICK AND TIRED OF THE FREE RIDE THE CRIMINAL ALIENS AND SOME AMERICAN CITIZENS ARE GETTING ON THE TAXPAYERS DIME! Our country is literally bankrupt according to the Federal Legal Statute's! YET ALL OUR CORRUPT GOVERNMENT DOES IS SPENT MONEY WE DON'T HAVE WITH THEIR NEVER ENDING WARS, CONGRESS OVERSPENDING FOR THEIR PERSONAL AGENDAS, THAT ARE SNUCK INTO THOUSANDS OF PAGES OF BILLS THEY CAN'T POSSIBLY READ BEFORE THEY GET PASSED!!! For the first time in my life my patriotism, for the country I was born in, is rapidly being destroyed by those who in CONGRESS that are SUPPOSED TO WORK FOR "WE THE PEOPLE" NO LONGER EXISTS!
I like your spunk... so yes, you are right: If you put your signature to a loan contract, you keep your word - pay on it! Yes we can always negotiate terms in the future if there is a clause. But to completely walk away from it - Never! But it all gets screwed up when the govt steps in just before election time, and that is what I want to tell you; Congress never had our best interest at heart on anything - Ever! Except to dangle our taxes in front of us just before election time and throw a refund BONE to those that can get them re-elected. What we need is a democracy instead of a republic. A republic has voters elect and send representatives to speak for us (which they never do, ever!) A democracy is governed by 'WE The PEOPLE; we vote everything up or down. And that, Rebecca will require a constitutional rewrite. OR the best we can hope for would be very strict laws governing Term Limits, restricting the size of govt, and enacting a "B.S. Promise Contract" that requires politicians to sign an oath that strictly forbids them from making promises at election time where the promise is never keep after the election (jail time included.)
Biden buying votes with our tax dollars when we are already bankrupt morally and financially as a country. Now won't these people who have their student loan debts cancelled receive a 1099-C which becomes taxable income for the year in which it's cancelled? If so I could see many people having to pay in big time and when you don't pay by the filing date interest of 18% plus penalties start accruing if I am not mistaken.
Before Sally Mae was inflicted upon college students educations were affordable. Mine averaged 3k per year back in the 1960's. I worked several jobs and had no debt when I graduated. This was the norm back then. Because expenses were now deferred they grew. Nobody cared. Basketball coaches received 6 figure salaries, administration people were hired one on top of another. This trillion dollar mess grew over time. The new generation should never have been forced to become indentured servants to 39k dollar debt. As AI is now going to render many degrees obsolete this mess has hit the wall. Someone posted a joke about 200k debt for underwater gender studies but this is really not so far off reality. This problem was caused by this damn government intervention and now they are trying to solve it. Good luck on that.
.... the highest paid state employees are usually state university football coaches. Accademia is toast - along with authority or any institution that recruits the compliant-minded. They've destroyed themselves for not questioning the rank and file death-jabbers in white coats - now nobody will believe/trust an academic, doctor or govmt. official ever again. Most of us here have an incredible aversion for anti-rational ethics. Perhaps kids today wi'll eventually be able to vote themselves benefits just like the Baby Boomers - got their "Great Society" - or did they?
I am more concerned about the moral hazard created when edu institutions lose incentive to improve thier product and manage thier costs. Universities with BILLIONS in endowments should not be eligible to line up on the government trough
This is actually about bankrupting the Treasury...they dont need to "buy" votes. Voting is an illusion and the demons running the world own both "puppet choices" Any real candidate is suicided or sidelined. See, believe it or not, STUDENT LOAN debt from Millennials and now Get Z is the single largest ASSET on the Treasury's balance sheet. Once those debts are defaulted on/cancelled by the puppet, it bankrupts Treasury and Fed will need to "bail out" Treasury which ensures the dollar is confetti within a couple years- it already is as 95% of jobs no longer pay a wage able to support even a family of 4.
Agreed. Why not make all education free? With the commie professors we have now they should want to teach for free. Can't have it both ways
All commie are communists until check made out
"But I shouldn't have to pay off a $200K student loan for my 8-yr bachelors degree in underwater gender studies because McD's won't hire me!"
One should be careful as to what degree they study. Moreover, weren't you aware of the cost before you signed on the dotted line?
Hi Greg, Thank you for your work, There is no free lunch! To me your most memorable comment, "the Fed wants to be the buyer and lender of last resort" this is why corporately we do not accept plastic in the belief that:
“When a customer pulls out a credit card instead of cash, the small business owner loses money and the credit card companies win. …[E]very swipe counts because it continues to give power to the bankers instead of individuals and communities.” David A. Hill Vancouver
i am guessing that most Students are way to young YET to understand or even care what Inflation is all about
They're also going to get a big fat 1099 since the "forgiveness" is considered income.
Agree 100%. Debt forgiveness is another form of inflation. They are just trying to buy votes anyway they can.
This just goes to show a reasonable person that the politicians in the United States could give a shit about you. It is a criminal optics.
I wonder if the debt that is forgiven will be taxed as income? What do you think?
The Government is a mindless, irrational, destructive taxing machine. If you found a $10 Bill in the parking lot, and didn't report it as Income they could get you for Tax Evasion under the law.
Yes.. 100%
Exactly what I've been telling people for years. Nothing of any value is ever free.
With National debt, you already own nothing. You will understand this when they come for your property.
It really pisses me off that O'Biden has, and continues to, forgive student loans! My husband, a career law enforcement officer who retired in 2019 as a Lt. Deputy from our local Sheriff's Department, decided to go to an online college in 2009. With his screwed up schedule there wasn't a way for him to physically attend a college. We're not rich and paying off his student loans has took a bite out of his "civil service career" budget. HOWEVER WE MADE THE PAYMENT EVERY MONTH, EVEN WHEN STUDENT LOAN PAYMENTS WERE PAUSED FOR YEARS DUE TO THE SCAMDEMIC IN 2020. I know we're blessed by God to not be in a financial situation as bad as most people. However now not only do we have to continue to pay off his student loans but BE TAXED EVEN MORE TO PAY FOR THOSE WHO WOULDN'T PAY THEIRS! I don't want to hear any bullshit about not being able to afford the astronomical monthly payments! Those payments can be lowered, according to your income and monthly expenses. ALL YOU NEEDED TO DO WAS CALL THE SERVICER OF YOUR STUDENT LOAN PAYMENTS. We did that and our payments went from almost $900 a month to $196 a month based upon what we could pay. I'M SICK AND TIRED OF THE FREE RIDE THE CRIMINAL ALIENS AND SOME AMERICAN CITIZENS ARE GETTING ON THE TAXPAYERS DIME! Our country is literally bankrupt according to the Federal Legal Statute's! YET ALL OUR CORRUPT GOVERNMENT DOES IS SPENT MONEY WE DON'T HAVE WITH THEIR NEVER ENDING WARS, CONGRESS OVERSPENDING FOR THEIR PERSONAL AGENDAS, THAT ARE SNUCK INTO THOUSANDS OF PAGES OF BILLS THEY CAN'T POSSIBLY READ BEFORE THEY GET PASSED!!! For the first time in my life my patriotism, for the country I was born in, is rapidly being destroyed by those who in CONGRESS that are SUPPOSED TO WORK FOR "WE THE PEOPLE" NO LONGER EXISTS!
I like your spunk... so yes, you are right: If you put your signature to a loan contract, you keep your word - pay on it! Yes we can always negotiate terms in the future if there is a clause. But to completely walk away from it - Never! But it all gets screwed up when the govt steps in just before election time, and that is what I want to tell you; Congress never had our best interest at heart on anything - Ever! Except to dangle our taxes in front of us just before election time and throw a refund BONE to those that can get them re-elected. What we need is a democracy instead of a republic. A republic has voters elect and send representatives to speak for us (which they never do, ever!) A democracy is governed by 'WE The PEOPLE; we vote everything up or down. And that, Rebecca will require a constitutional rewrite. OR the best we can hope for would be very strict laws governing Term Limits, restricting the size of govt, and enacting a "B.S. Promise Contract" that requires politicians to sign an oath that strictly forbids them from making promises at election time where the promise is never keep after the election (jail time included.)
Biden buying votes with our tax dollars when we are already bankrupt morally and financially as a country. Now won't these people who have their student loan debts cancelled receive a 1099-C which becomes taxable income for the year in which it's cancelled? If so I could see many people having to pay in big time and when you don't pay by the filing date interest of 18% plus penalties start accruing if I am not mistaken.
I think it is 8% a year on any unpaid tax balance.
Before Sally Mae was inflicted upon college students educations were affordable. Mine averaged 3k per year back in the 1960's. I worked several jobs and had no debt when I graduated. This was the norm back then. Because expenses were now deferred they grew. Nobody cared. Basketball coaches received 6 figure salaries, administration people were hired one on top of another. This trillion dollar mess grew over time. The new generation should never have been forced to become indentured servants to 39k dollar debt. As AI is now going to render many degrees obsolete this mess has hit the wall. Someone posted a joke about 200k debt for underwater gender studies but this is really not so far off reality. This problem was caused by this damn government intervention and now they are trying to solve it. Good luck on that.
.... the highest paid state employees are usually state university football coaches. Accademia is toast - along with authority or any institution that recruits the compliant-minded. They've destroyed themselves for not questioning the rank and file death-jabbers in white coats - now nobody will believe/trust an academic, doctor or govmt. official ever again. Most of us here have an incredible aversion for anti-rational ethics. Perhaps kids today wi'll eventually be able to vote themselves benefits just like the Baby Boomers - got their "Great Society" - or did they?
Lose + Lose = Losers