General Politics Discussion VIII [ARCHIVED] • Page 859

a fucking coward

 

Yeah, it's tough and I'm glad you're staying safe.

Luckily we are all (currently) healthy and I am working remotely so we can do it from anywhere.

We did the same thing back in the spring when it got really bad and it worked out well, so hoping for the same this time. The kids will have lots of space and better weather to run around, and we'll get a change of scene and better ability to socially distance.

 

I think it's crucial to consider how looming debt impacts spending and saving habits. My partner has massive student loan debt and if that debt were no longer there, that money could go to paying down the other debts that accrue due to either student or medical debt - both of which are uniquely predatory in their repayment structures. Looming debt means those payments are being hoarded, not used thoughtfully. I have no doubt it might not be the immediate stimulus that it might have without the pandemic, but yes it would absolutely make a massive difference in peoples lives.

 

Long term wealth building stuff. Completely changes what you’re looking at in the housing market. Would make a lot of nice neighborhoods look a lot younger

 

Not all student loans are federal. I don't know the full scope of what Biden could do, but if they could cancel Sallie Mae and other loans that would be pretty big.

 

Plus the COVID deferment ends in December, people are already having to change spending/savings habits back, if they didn't just continue making interest payments. It would be huge for that to come early February.

 

Having my student loan payment end would allow me more breathing room financially and less anxiety. It would change a lot for so many.

 

It’d be a huge deal for me, could buy a house and presumably have a family. As of now, I’ve been paying $600 a month for 6 years and it’s hardly put a dent in the amount i owe lol

 

U of U hospital is at 94% capacity, 31 nurses just flew in from NYC to assist. meanwhile these fucking jackass BYU kids keep having parties and my wife has nightly mental breakdowns, having to give positive covid tests on the daily. its infuriating.

 

I have student loans myself so I feel this sentiment, but I still don't think I'm in favor of a mass cancelation and it's one of the vary few issues I'm leaning conservative on. The choice of school/degree/loan amount/and career path I've taken have all been my decisions, none of which were forced upon me. I'm more for some of the income based plans I've seen talked about and for making tuition more affordable in the future, and generally changing the attitude that it's college or bust.

 

I feel this. Our loans just dropped below (barely) 4 figures a month LAST year. I'm 29 and my partner is 34. Both been paying for over a decade. IT'S SO FUN.

I can't even begin to say how much difference that would make. Student debt is a fucking scam.

 

I can say that for me personally them pausing federal loans would not up my spending because I have just been deferring payments for the past 10 years. If they outright cancelled student loan debt that wouldn't help me immediately but it would definitely help in the long run in terms of buying a house, new car, etc. because I could finally work on getting my credit score up.

I know it's just an anecdotal situation but I would assume there are a lot more out there like me.

 

You're entitled to feel that way, but it's honestly really disingenuous to take the culture most younger folks grew up in ("YOU MUST GO TO COLLEGE, MINIMUM WAGE NEVER RISES, NOBODY WILL HIRE YOU, COMMUNITY COLLEGE IS BAD, STUDENT LOANS ARE NECESSARY TO PAY YES YOU'RE 18 AND CAN NEVER PAY THEM BACK BUT GOOD LUCK HAVE FUN" etc) and the reality of what the job market and inflation have looked like to pretend it's as simple as "nobody made me do this".

 

Not shocked, we saw that shit coming

 

The cancellation of student debt would be a giant boom to the whole fucking economy. I believe studies have said it would be one of the better stimulus type things we could do. It would have giant impacts in housing, auto, and allow people to finally grow their wealth in a generation that is so fucking far behind any other at the same point in their lifespans.

 

You may have stepped into the wrong thread for this sentiment. I can tell you right now that I should not have been allowed to take out student loans as an 18 year old kid that didn't exactly understand how bad it was. We were taken advantage of by colleges and loan companies because we were young and dumb. College debt is on par with the predatory practices we saw during the housing crisis in the early 2000's.

 

All these cases going up and here I am in Florida basically feeling like a Guinea pig. Close. Shit. Down.

 

The loan amount wasn't your choice though. That is based on the tuition amount, which has been artificially inflated over the past few decades because of . . . you guessed it! . . . student loans! Having federal guarantee of tuition payment means that schools have absolutely zero qualms about raising tuition, in many cases by absurdly astronomical amounts.

For many, choices of school and degree are also likely not a pure choice but are based on location, and career prospects, which are often overestimated because schools use all kinds of tricks to juice (if not outright lie about) their job placement and related numbers.

And your career path is also likely not your choice. It's unlikely you can walk into any company in your profession and demand a job immediately and name your salary.