3 ms·

I'm glad. Students got a break. 2 years+ of 0 payments and 0 interest. I took advantage of it and finished paying off my loans. Some individuals I know were pu

by avgDev 3y ago

I'm glad. Students got a break. 2 years+ of 0 payments and 0 interest. I took advantage of it and finished paying off my loans. Some individuals I know were purchasing fun cars because the loans were getting "cancelled". You take on DEBT, you should have an expectation of paying it.

Workaccount2 3y ago
Technically taking advantage of it would have been setting that same money aside monthly into safe investments, then cashing it out and paying it off once interest begins accruing again.
btreecat 3y ago
[flagged]
- avgDev 3y ago
  How is this view "fuck you I got mine". I took out loans, and I paid them. If this passed I would get money back. I don't think that is fair for people who paid off their loans before, or those who come after.
  - flangola7 3y ago
    How is it unfair to those before or after? What harm does it cause them?
    - willcipriano 3y ago
      How is it unfair that everyone chips in and pays my mortgage off? What harm does it cause them?
taeric 3y ago
On the flip side, too much of the lending was taking on risk that shouldn't be taken. Not hard to argue that a large part of the reason there is so much lending here is regulatory capture that makes it hard to discharge these debts. Which... quite frankly, feels very non-US.
barbazoo 3y ago
I wonder if people in favor of cancelling the debt are also the folks advocating for tuition free education in which case, sure, you take on debt, you should have to pay it back but really education shouldn't incur debt at all according to them. Anyway, charging interest on tuition debt seems so backwards to me. We should reward people getting educated, not punish them.
- adamredwoods 3y ago
  >> We should reward people getting educated, not punish them. Yes! The idea is that education is the foundation for making a country better prepared in the future. If the US truly wants to invest in its future, education should be the foundation of all plans. https://www.unesco.org/en/higher-education/need-know https://www.unesco.org/en/higher-education/need-know https://www.oecd.org/newsroom/investingineducationpaysrichdividendsunescooecdstudyconfirms.htm https://www.oecd.org/newsroom/investingineducationpaysrichdi... >> The report warns however that private sector development does not solve the problem of access in the survey countries, which often have high levels of inequality and poverty, and where the poor may not be able to pay for education.

by avgDev 3y ago

Workaccount2 3y ago

Technically taking advantage of it would have been setting that same money aside monthly into safe investments, then cashing it out and paying it off once interest begins accruing again.

btreecat 3y ago

[flagged]

avgDev 3y ago
How is this view "fuck you I got mine". I took out loans, and I paid them. If this passed I would get money back. I don't think that is fair for people who paid off their loans before, or those who come after.
- flangola7 3y ago
  How is it unfair to those before or after? What harm does it cause them?
  - willcipriano 3y ago
    How is it unfair that everyone chips in and pays my mortgage off? What harm does it cause them?

taeric 3y ago

On the flip side, too much of the lending was taking on risk that shouldn't be taken. Not hard to argue that a large part of the reason there is so much lending here is regulatory capture that makes it hard to discharge these debts. Which... quite frankly, feels very non-US.

barbazoo 3y ago

I wonder if people in favor of cancelling the debt are also the folks advocating for tuition free education in which case, sure, you take on debt, you should have to pay it back but really education shouldn't incur debt at all according to them. Anyway, charging interest on tuition debt seems so backwards to me. We should reward people getting educated, not punish them.

adamredwoods 3y ago
>> We should reward people getting educated, not punish them. Yes! The idea is that education is the foundation for making a country better prepared in the future. If the US truly wants to invest in its future, education should be the foundation of all plans. https://www.unesco.org/en/higher-education/need-know https://www.unesco.org/en/higher-education/need-know https://www.oecd.org/newsroom/investingineducationpaysrichdividendsunescooecdstudyconfirms.htm https://www.oecd.org/newsroom/investingineducationpaysrichdi... >> The report warns however that private sector development does not solve the problem of access in the survey countries, which often have high levels of inequality and poverty, and where the poor may not be able to pay for education.