5 ms·

Modern media is all about making the dumb layman pattern match into outrage. See: All the PPP talk in response to the student loan debt ruling.

Tostino 3y ago
I have zero money on the line for either. Please defend PPP loan forgiveness vs student loan forgiveness. I'd love to hear your take.
- Auracle 3y ago
  I'll do it. The PPP "loans" were always intended to be forgiven if used for employee paychecks (or some other more limited uses) - from day 1. I know because I thought about applying but decided not to because I didn't think I could get both that and unemployment. That money was given to businesses, and then their employees, because the government essentially forced those businesses to close for a time. Their employees could have been fired and then given unemployment, but the program was put into place to prevent that from happening. The reason it was called a loan is because if you didn't use the money in the way prescribed then it was in fact a loan and would need to be paid back. So, unless you (generically, not you specifically) were forced to go to school by the government and your loans were always intended to be forgiven the comparison is absolutely ridiculous.
- db48x 3y ago
  It has nothing to do with loan forgiveness, and everything to do with the language of the law. The law that created the PPP program explicitly allowed for the loans to be cancelled. The laws that created the various student loan programs allow them to be "modified", but do not explicitly mention cancellation. The Supreme Court ruled that cancelling a loan is not the same as modifying it. Changing the interest rate or payment terms would be a modification, for example. Since Congress did not delegate permission to cancel the loans to the Executive branch, it remains Congress's job to cancel them if they want to.

5 ms·

Modern media is all about making the dumb layman pattern match into outrage. See: All the PPP talk in response to the student loan debt ruling.

by whateveracct 3y ago

Tostino 3y ago
I have zero money on the line for either. Please defend PPP loan forgiveness vs student loan forgiveness. I'd love to hear your take.
- Auracle 3y ago
  I'll do it. The PPP "loans" were always intended to be forgiven if used for employee paychecks (or some other more limited uses) - from day 1. I know because I thought about applying but decided not to because I didn't think I could get both that and unemployment. That money was given to businesses, and then their employees, because the government essentially forced those businesses to close for a time. Their employees could have been fired and then given unemployment, but the program was put into place to prevent that from happening. The reason it was called a loan is because if you didn't use the money in the way prescribed then it was in fact a loan and would need to be paid back. So, unless you (generically, not you specifically) were forced to go to school by the government and your loans were always intended to be forgiven the comparison is absolutely ridiculous.
- db48x 3y ago
  It has nothing to do with loan forgiveness, and everything to do with the language of the law. The law that created the PPP program explicitly allowed for the loans to be cancelled. The laws that created the various student loan programs allow them to be "modified", but do not explicitly mention cancellation. The Supreme Court ruled that cancelling a loan is not the same as modifying it. Changing the interest rate or payment terms would be a modification, for example. Since Congress did not delegate permission to cancel the loans to the Executive branch, it remains Congress's job to cancel them if they want to.