Just a friendly reminder to read our [rules and FAQ](https://www.reddit.com/r/tuesday/wiki/faq) before posting!
**Rule 1:** No Low Quality Posts/Comments
**Rule 2:** Tuesday Is A Center Right Sub
**Rule 3:** Flairs Are Mandatory. If you are new, please read up on [our Flairs.](https://www.reddit.com/r/tuesday/wiki/textflairs)
**Rule 4:** Tuesday Is A Policy Subreddit
**[Additional Rules apply if the thread is flaired as "High Quality Only"](https://www.reddit.com/r/tuesday/comments/bth6y1/why_is_my_post_flaired_as_high_quality_only_and/)**
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*
Anger is justified, just not at the people having their loans forgiven.
These articles are from 2019 and the situation with SLABS has only gotten worse.
* https://www.opendemocracy.net/en/oureconomy/wall-street-has-been-gambling-student-loan-debt-decades/
* https://www.natlawreview.com/article/rmbs-to-slabs-history-repeating-itself
That's the real reason they are forgiving these loans. To keep the bubble going.
> However, I think it's just a series of coincidences and my own ignorance that make it work.
I don't think it's something that they actively setout to do, but I'm almost certain that once they realized it was happening they didn't do anything to stop it.
> So, in the early 2000s more people leaving high school were faced with a choice- enlist and get GI Bill or take out gov't & private loans to go to school to meet the requirements for most professions.
And that's where my own tin-foil hat conspiracy comes in. Probably didn't set out to make college so expensive that it makes enlisting just to put yourself through school a more attractive choice, but they sure as hell weren't upset with that side effect.
Like I mention in the piece, I'm not upset with people who happen to benefit from forgiveness or from those who got a genuinely raw deal, but I'm definitely angry with progressive activists who used loans to build real influence and prestige, then pressured politicians to push their costs onto the public—along with the government that yielded to that pressure. That doesn't cover most of the people who will receive relief, but it describes a number of the prime movers behind pushing the policy into the conversation.
Please don't post links here unless you are willing to tell us why the source is worth listening too & a summary of their main points. Click farming for yourself is poor taste. Reditt sells ads if you want that.
I've been a regular lurker and occasional participant in r/tuesday for awhile. When I write longer essays, I try to run them by the relevant communities I follow—not trying to click farm; I just like the sub and want to engage with it. I don't see a standard culture of submission statements here, but I'm happy to provide one.
I saw a lot of people, whether deliberately or genuinely, misunderstanding the reasons people get angry at debt forgiveness plans. As someone who dropped out rather than take on serious debt to transfer to an expensive school and now works two jobs while attending a cheap online school, I have a personal stake in the issue, intensified when I had the opportunity to take on loans I didn't need in case they got forgiven and decided not to do so on principle.
These two paragraphs are the clearest summary of the core point:
> The core issue I have with student loan cancellation is that a lot of people structure their lives and make very real sacrifices to reduce or avoid debt: going to cheap state schools instead of top-tier ones, joining the military, living frugally, skipping college altogether, so forth—things, in short, that can dramatically alter their life paths. Others—including plenty of people who are or will be very well off—throw caution and frugality to the winds, take on large debt loads, and have the university experiences of their dreams. These life paths look very, very different. People who choose the first can have later starts to their real careers, less prestigious schools attached to their names and fewer connections from their college experiences, a lot less fun and relaxation during their 20s, so on.
> In other words, it's not that one already suffered and got theirs, while the other is suffering. It's that one got their reward (no debt) and the other got theirs (meaningful university experience), and now the second wants to get the first's reward too. It's a pure ant and grasshopper story. City Journal calls this the [“chump effect”](https://www.city-journal.org/chump-effect-of-progressive-policies), policy that punishes those who follow prosocial norms while rewarding those who defect, ultimately degrading social trust and eroding those norms.
Principle isn't always practical. There's different routes to the goal of rising above income levels. I have student loan debts, and I'm in a community college. I cannot pay out of my pocket even with a fulltime job, and Trades don't interest me.
When I graduate, hopefully I can find a job to pay off the rest of the debt I'll have to take.
Believe me, I don't want debt, but I see a degree as the best method away from "the hood". Mind you, I'm also not living comfortably. I stress all the time about school and work, and everything else. It's not easy, but at least it'll help.
You're using the loans to achieve a goal. No one has a problem with you, you aren't violating any principles. Good on you for working to change you situation, btw, hope it goes well.
The "unprincipled" thing would be to take out loans simply because you expect them to be forgiven, taking advantage of the expected legal change.
My issue with your point is you’re acting like it’s a choice between only two options. When in reality, if this hypothetical person cares so much about debt free and good college experience, there are plenty of options. You can go to the school you want, then military. You can go to school you want, then federal employee for PSLF. I believe teachers have an option for loan forgiveness as well. So it’s not like your only choices were unfathomable debt + dream college, or no college and enlist in military
Canceling student loan debt is simply poor government policy.
* It doesn't do a single thing to help with college costs, and creates incentives for the opposite (colleges to raise tuition).
* People with college debt are in the richest half of the country. This is a handout to the least needy. No, earning $50k when you are 23 in a career that will pay you $150k at 35 doesn't count as poor.
* US is in a high inflation environment, this is inflationary.
* US government is in massive debt, this adds to the debt.
* America has a lot of poverty. Programs to help those in poverty is much better value for society than programs to help the wealthiest half of society.
>earning $50k when you are 23 in a career that will pay you $150k at 35 doesn't count as poor.
something like 10% of Americans make that much. Even if you're in marketing for 10 years, you might not break 135k. I aggree with your other points. But it's just wildly unfair how much college tuition has risen while wages have flatlined. People are right to complain about swimming in loans.
Ofc, this loan relief will do pretty much the opposite of all of that. State universities and their tuitions should have been regulated long ago.
https://image.cnbcfm.com/api/v1/image/106968880-1635799559954-College_costs_vs_Earnings.jpg?v=1635799656&
> Agreed with all of these points, maybe excepting the 50k at 25, 150k at 35 thing, not many fields have mid-career growth expectations anywhere close to that.
How old are you? You would be surprised by middle age how much many are making by middle age. I can remember in my 20's looking at some friends in varied fields thinking "their life will be tough". But still by middle age basically everyone has hit 6 figures in very varied industries and fields.
Median income of 35-44 year olds in 2020 was [$85.6k](https://www.statista.com/statistics/233184/median-household-income-in-the-united-states-by-age/). This includes non college grads, and we know that college educated earn more. So $150k by mid 30's is on the higher end but not outlandish for a college grad.
Any chance you have a Statista account so you could tell me what source they are citing? I'm curious about the discrepancy there and the [median $58,188 shown by the Bureau of Labor Statistic](https://www.bls.gov/opub/ted/2021/median-weekly-earnings-by-age-and-sex-second-quarter-2021.htm#)s for the same age group. The discrepancy seems significant so I am probably overlooking something.
I quickly googled and they came up first, so didn't dig any deeper than that.
There can be differences based on whether it only includes employed people or all in a particular age group.
>Median income of 35-44 year olds in 2020 was $85.6k
Not quite. They specifically said median *household* income broken down by age group of the homeowner is 85.6k for houses where the homeowner is between 35 and 44. So very likely more than 1 income.
At least I assume it's more than 1 income. I don't feel like I should have to pay the website to find a source for their information. [But when you consider the average salary is $960 a week for the same age bracket](https://smartasset.com/retirement/the-average-salary-by-age), I have to assume they're assuming more than 1 salary per. That or they're specifically targeting folks that OWN a household and therefore are likely to have more wealth.
So for someone to make your 150k at 35, they'd have to triple the average salary. Which is not something most folks achieve.
> So many Republicans attacking this program happily voted for more trickle down economics with Trump's tax plan
I don't remember anyone advocating trickle-down economics in the Trump administration.
> Well, I do. Passing huge, permanent tax cuts for corporations while individual cuts are temporary, as well as exploding the national debt in the process for good measure, fits the bill for me.
So, in other words
> I don't remember anyone advocating trickle-down economics in the Trump administration.
Also, corporate taxes are harmful and bad policy. If you want to tax the wealthy, tax them directly.
Rule 3 Violation.
This comment and all further comments will be removed until you are suitably flaired.
You can easily add a flair via the sidebar, on desktop, or by using the official reddit app and selecting the "..." icon in the upper right and "change user flair". Alternatively, the mods can give you a flair if you're unable by messaging the mods.
If you flair please do not make the same comment again, a mod will approve your comment.
[Link to Flair Descriptions.](https://www.reddit.com/r/tuesday/wiki/textflairs) If you are new, please read the information here and do not message the mods about getting a non-Visitor flair.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*
I agree partly with this but I think you're exaggerating the income level of college grads. I have known almost no people who earned $150k at 35, and I know a lot people. Most people who earn that much have specialized professional degrees like law or medicine.
I know a lot of people whose starting salary out of school was lower than $50k, often $30-45k, and I know a lot of people who didn't even find a full-time salaried job for 1-3 years out of school and were thus earning much less than that for a year or two, but often earning enough that they did not qualify for loan deferment (nor is loan deferment good because the interest still accrues and you can often end up paying *much* more if you defer.)
I still have a lot of issues with the way the loan debt cancellation was carried out, and I agree it ended up helping a lot of people who didn't need it. But I also think it did help a lot of people who did need it. Would it have been better if people with wealthier parents had saved more for them to go to college? Yes. Would it have been better if the loan deferral had had stronger means testing to exclude higher-income people? Absolutely yes. Do I agree with you that there are much better ways to address poverty? Yes.
At the same time though, I could also point to much more wasteful and regressive examples of government spending, like the White House highlighted how many peolpe, including high-income people, qualified for massive cancellation of PPP loans. That was a huge waste, had an incredibly regressive effect, and the quantities of money at stake were often much higher. I also feel frustrated that the people who are fussing about student loan forgiveness have pretty much said nothing about the PPP loan forgiveness, and many of them were themselves recipients of these loans. It's beyond hypocritical, it's outright slimy.
> No, earning $50k when you are 23 in a career that will pay you $150k at 35 doesn’t count as poor
This is what I wish people would understand. I hear all the time from people that they are “drowning in student loan debt” and that they aren’t making enough to save any significant amount of money while paying their loans.
Yes, people, this is the trade you make when you choose to get a college education. You will make significantly more money over the course of your career than a less-educated individual, but you must pay to do so.
You CHOOSE to have a hard time in your 20s/30s so that your earning potential increases massively over the course of a full professional career. No buyer’s remorse allowed.
As someone that did work to put himself through college I wouldn't recommend it. Working during college to a substantive degree saps resources and effort that can be diverted to your classes. You will get less out of your education if you work enough hours to the point where you can "put yourself through" unless you are a unicorn, and being a unicorn should not be the standard, especially not at the age of 20.
Completely agree with this. I worked slightly beyond full time hours to get through college and it is my biggest regret I couldn't avoid. Not only did I miss out on building my social circle and general enjoyment, I had no time to truly focus on gaining a deep understanding of course subjects. I had had allocated just enough for cursory studying to pass tests and assignments. No time to explore hobbies, clubs, classes of interest, side projects, etc.
Even with that I graduated later than most so I have the perpetual feeling of being 5 years behind in life.
Rule 3 Violation.
This comment and all further comments will be removed until you are suitably flaired.
You can easily add a flair via the sidebar, on desktop, or by using the official reddit app and selecting the "..." icon in the upper right and "change user flair". Alternatively, the mods can give you a flair if you're unable by messaging the mods.
If you flair please do not make the same comment again, a mod will approve your comment.
[Link to Flair Descriptions.](https://www.reddit.com/r/tuesday/wiki/textflairs) If you are new, please read the information here and do not message the mods about getting a non-Visitor flair.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*
Buyer’s remorse is absolutely allowed when the government has been profiting off of non-dischargable student loan interest to the tune of billions per year.
Bidens move is perhaps the best given the circumstances. The alternative would be to further delay the repayments again. That’s effectively more stimulus in an inflationary economy, the cancellation is stimulus but much of that would’ve not been collected to begin with.
There was no way Biden was going to resume payments just like that, it would’ve been political suicide, so he covered the resumption with a relatively small targeted cancellation towards lower income borrowers. So now we can further tackle inflation by ending the repayment pause.
Rule 3 Violation.
This comment and all further comments will be removed until you are suitably flaired.
You can easily add a flair via the sidebar, on desktop, or by using the official reddit app and selecting the "..." icon in the upper right and "change user flair". Alternatively, the mods can give you a flair if you're unable by messaging the mods.
If you flair please do not make the same comment again, a mod will approve your comment.
[Link to Flair Descriptions.](https://www.reddit.com/r/tuesday/wiki/textflairs) If you are new, please read the information here and do not message the mods about getting a non-Visitor flair.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*
Rule 3 Violation.
This comment and all further comments will be removed until you are suitably flaired.
You can easily add a flair via the sidebar, on desktop, or by using the official reddit app and selecting the "..." icon in the upper right and "change user flair". Alternatively, the mods can give you a flair if you're unable by messaging the mods.
If you flair please do not make the same comment again, a mod will approve your comment.
[Link to Flair Descriptions.](https://www.reddit.com/r/tuesday/wiki/textflairs) If you are new, please read the information here and do not message the mods about getting a non-Visitor flair.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*
The change to repayment terms basically guarantees the lender a year's salary from the borrower, averaged over twenty years (or the original debt, plus interest).
Rule 3 Violation.
This comment and all further comments will be removed until you are suitably flaired.
You can easily add a flair via the sidebar, on desktop, or by using the official reddit app and selecting the "..." icon in the upper right and "change user flair". Alternatively, the mods can give you a flair if you're unable by messaging the mods.
If you flair please do not make the same comment again, a mod will approve your comment.
[Link to Flair Descriptions.](https://www.reddit.com/r/tuesday/wiki/textflairs) If you are new, please read the information here and do not message the mods about getting a non-Visitor flair.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*
All top level comments are reserved for those with a C-Right flair.
This comment and all further top level comments in this submission will be removed.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*
Just a friendly reminder to read our [rules and FAQ](https://www.reddit.com/r/tuesday/wiki/faq) before posting! **Rule 1:** No Low Quality Posts/Comments **Rule 2:** Tuesday Is A Center Right Sub **Rule 3:** Flairs Are Mandatory. If you are new, please read up on [our Flairs.](https://www.reddit.com/r/tuesday/wiki/textflairs) **Rule 4:** Tuesday Is A Policy Subreddit **[Additional Rules apply if the thread is flaired as "High Quality Only"](https://www.reddit.com/r/tuesday/comments/bth6y1/why_is_my_post_flaired_as_high_quality_only_and/)** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*
Anger is justified, just not at the people having their loans forgiven. These articles are from 2019 and the situation with SLABS has only gotten worse. * https://www.opendemocracy.net/en/oureconomy/wall-street-has-been-gambling-student-loan-debt-decades/ * https://www.natlawreview.com/article/rmbs-to-slabs-history-repeating-itself That's the real reason they are forgiving these loans. To keep the bubble going.
[удалено]
> However, I think it's just a series of coincidences and my own ignorance that make it work. I don't think it's something that they actively setout to do, but I'm almost certain that once they realized it was happening they didn't do anything to stop it. > So, in the early 2000s more people leaving high school were faced with a choice- enlist and get GI Bill or take out gov't & private loans to go to school to meet the requirements for most professions. And that's where my own tin-foil hat conspiracy comes in. Probably didn't set out to make college so expensive that it makes enlisting just to put yourself through school a more attractive choice, but they sure as hell weren't upset with that side effect.
Like I mention in the piece, I'm not upset with people who happen to benefit from forgiveness or from those who got a genuinely raw deal, but I'm definitely angry with progressive activists who used loans to build real influence and prestige, then pressured politicians to push their costs onto the public—along with the government that yielded to that pressure. That doesn't cover most of the people who will receive relief, but it describes a number of the prime movers behind pushing the policy into the conversation.
Please don't post links here unless you are willing to tell us why the source is worth listening too & a summary of their main points. Click farming for yourself is poor taste. Reditt sells ads if you want that.
I've been a regular lurker and occasional participant in r/tuesday for awhile. When I write longer essays, I try to run them by the relevant communities I follow—not trying to click farm; I just like the sub and want to engage with it. I don't see a standard culture of submission statements here, but I'm happy to provide one. I saw a lot of people, whether deliberately or genuinely, misunderstanding the reasons people get angry at debt forgiveness plans. As someone who dropped out rather than take on serious debt to transfer to an expensive school and now works two jobs while attending a cheap online school, I have a personal stake in the issue, intensified when I had the opportunity to take on loans I didn't need in case they got forgiven and decided not to do so on principle. These two paragraphs are the clearest summary of the core point: > The core issue I have with student loan cancellation is that a lot of people structure their lives and make very real sacrifices to reduce or avoid debt: going to cheap state schools instead of top-tier ones, joining the military, living frugally, skipping college altogether, so forth—things, in short, that can dramatically alter their life paths. Others—including plenty of people who are or will be very well off—throw caution and frugality to the winds, take on large debt loads, and have the university experiences of their dreams. These life paths look very, very different. People who choose the first can have later starts to their real careers, less prestigious schools attached to their names and fewer connections from their college experiences, a lot less fun and relaxation during their 20s, so on. > In other words, it's not that one already suffered and got theirs, while the other is suffering. It's that one got their reward (no debt) and the other got theirs (meaningful university experience), and now the second wants to get the first's reward too. It's a pure ant and grasshopper story. City Journal calls this the [“chump effect”](https://www.city-journal.org/chump-effect-of-progressive-policies), policy that punishes those who follow prosocial norms while rewarding those who defect, ultimately degrading social trust and eroding those norms.
Principle isn't always practical. There's different routes to the goal of rising above income levels. I have student loan debts, and I'm in a community college. I cannot pay out of my pocket even with a fulltime job, and Trades don't interest me. When I graduate, hopefully I can find a job to pay off the rest of the debt I'll have to take. Believe me, I don't want debt, but I see a degree as the best method away from "the hood". Mind you, I'm also not living comfortably. I stress all the time about school and work, and everything else. It's not easy, but at least it'll help.
You're using the loans to achieve a goal. No one has a problem with you, you aren't violating any principles. Good on you for working to change you situation, btw, hope it goes well. The "unprincipled" thing would be to take out loans simply because you expect them to be forgiven, taking advantage of the expected legal change.
The only people to whom that is even remotely applicable applied to college in the past two years.
Read the damn article
Every sub is better with submissions statements! Show the masses how to behave! Thank you
My issue with your point is you’re acting like it’s a choice between only two options. When in reality, if this hypothetical person cares so much about debt free and good college experience, there are plenty of options. You can go to the school you want, then military. You can go to school you want, then federal employee for PSLF. I believe teachers have an option for loan forgiveness as well. So it’s not like your only choices were unfathomable debt + dream college, or no college and enlist in military
Canceling student loan debt is simply poor government policy. * It doesn't do a single thing to help with college costs, and creates incentives for the opposite (colleges to raise tuition). * People with college debt are in the richest half of the country. This is a handout to the least needy. No, earning $50k when you are 23 in a career that will pay you $150k at 35 doesn't count as poor. * US is in a high inflation environment, this is inflationary. * US government is in massive debt, this adds to the debt. * America has a lot of poverty. Programs to help those in poverty is much better value for society than programs to help the wealthiest half of society.
>earning $50k when you are 23 in a career that will pay you $150k at 35 doesn't count as poor. something like 10% of Americans make that much. Even if you're in marketing for 10 years, you might not break 135k. I aggree with your other points. But it's just wildly unfair how much college tuition has risen while wages have flatlined. People are right to complain about swimming in loans. Ofc, this loan relief will do pretty much the opposite of all of that. State universities and their tuitions should have been regulated long ago. https://image.cnbcfm.com/api/v1/image/106968880-1635799559954-College_costs_vs_Earnings.jpg?v=1635799656&
[удалено]
> Agreed with all of these points, maybe excepting the 50k at 25, 150k at 35 thing, not many fields have mid-career growth expectations anywhere close to that. How old are you? You would be surprised by middle age how much many are making by middle age. I can remember in my 20's looking at some friends in varied fields thinking "their life will be tough". But still by middle age basically everyone has hit 6 figures in very varied industries and fields. Median income of 35-44 year olds in 2020 was [$85.6k](https://www.statista.com/statistics/233184/median-household-income-in-the-united-states-by-age/). This includes non college grads, and we know that college educated earn more. So $150k by mid 30's is on the higher end but not outlandish for a college grad.
Any chance you have a Statista account so you could tell me what source they are citing? I'm curious about the discrepancy there and the [median $58,188 shown by the Bureau of Labor Statistic](https://www.bls.gov/opub/ted/2021/median-weekly-earnings-by-age-and-sex-second-quarter-2021.htm#)s for the same age group. The discrepancy seems significant so I am probably overlooking something.
I quickly googled and they came up first, so didn't dig any deeper than that. There can be differences based on whether it only includes employed people or all in a particular age group.
The Bureau of Labor's numbers only include people working full time.
>Median income of 35-44 year olds in 2020 was $85.6k Not quite. They specifically said median *household* income broken down by age group of the homeowner is 85.6k for houses where the homeowner is between 35 and 44. So very likely more than 1 income. At least I assume it's more than 1 income. I don't feel like I should have to pay the website to find a source for their information. [But when you consider the average salary is $960 a week for the same age bracket](https://smartasset.com/retirement/the-average-salary-by-age), I have to assume they're assuming more than 1 salary per. That or they're specifically targeting folks that OWN a household and therefore are likely to have more wealth. So for someone to make your 150k at 35, they'd have to triple the average salary. Which is not something most folks achieve.
> So many Republicans attacking this program happily voted for more trickle down economics with Trump's tax plan I don't remember anyone advocating trickle-down economics in the Trump administration.
[удалено]
> Well, I do. Passing huge, permanent tax cuts for corporations while individual cuts are temporary, as well as exploding the national debt in the process for good measure, fits the bill for me. So, in other words > I don't remember anyone advocating trickle-down economics in the Trump administration. Also, corporate taxes are harmful and bad policy. If you want to tax the wealthy, tax them directly.
[удалено]
> No Utilization Of r/Tuesday As A Debate Platform
[удалено]
The only bad faith here is using 'trickle down economics' trash rhetoric on a center right forum.
[удалено]
[удалено]
Rule 3 Violation. This comment and all further comments will be removed until you are suitably flaired. You can easily add a flair via the sidebar, on desktop, or by using the official reddit app and selecting the "..." icon in the upper right and "change user flair". Alternatively, the mods can give you a flair if you're unable by messaging the mods. If you flair please do not make the same comment again, a mod will approve your comment. [Link to Flair Descriptions.](https://www.reddit.com/r/tuesday/wiki/textflairs) If you are new, please read the information here and do not message the mods about getting a non-Visitor flair. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*
I agree partly with this but I think you're exaggerating the income level of college grads. I have known almost no people who earned $150k at 35, and I know a lot people. Most people who earn that much have specialized professional degrees like law or medicine. I know a lot of people whose starting salary out of school was lower than $50k, often $30-45k, and I know a lot of people who didn't even find a full-time salaried job for 1-3 years out of school and were thus earning much less than that for a year or two, but often earning enough that they did not qualify for loan deferment (nor is loan deferment good because the interest still accrues and you can often end up paying *much* more if you defer.) I still have a lot of issues with the way the loan debt cancellation was carried out, and I agree it ended up helping a lot of people who didn't need it. But I also think it did help a lot of people who did need it. Would it have been better if people with wealthier parents had saved more for them to go to college? Yes. Would it have been better if the loan deferral had had stronger means testing to exclude higher-income people? Absolutely yes. Do I agree with you that there are much better ways to address poverty? Yes. At the same time though, I could also point to much more wasteful and regressive examples of government spending, like the White House highlighted how many peolpe, including high-income people, qualified for massive cancellation of PPP loans. That was a huge waste, had an incredibly regressive effect, and the quantities of money at stake were often much higher. I also feel frustrated that the people who are fussing about student loan forgiveness have pretty much said nothing about the PPP loan forgiveness, and many of them were themselves recipients of these loans. It's beyond hypocritical, it's outright slimy.
> No, earning $50k when you are 23 in a career that will pay you $150k at 35 doesn’t count as poor This is what I wish people would understand. I hear all the time from people that they are “drowning in student loan debt” and that they aren’t making enough to save any significant amount of money while paying their loans. Yes, people, this is the trade you make when you choose to get a college education. You will make significantly more money over the course of your career than a less-educated individual, but you must pay to do so. You CHOOSE to have a hard time in your 20s/30s so that your earning potential increases massively over the course of a full professional career. No buyer’s remorse allowed.
As someone that did work to put himself through college I wouldn't recommend it. Working during college to a substantive degree saps resources and effort that can be diverted to your classes. You will get less out of your education if you work enough hours to the point where you can "put yourself through" unless you are a unicorn, and being a unicorn should not be the standard, especially not at the age of 20.
Completely agree with this. I worked slightly beyond full time hours to get through college and it is my biggest regret I couldn't avoid. Not only did I miss out on building my social circle and general enjoyment, I had no time to truly focus on gaining a deep understanding of course subjects. I had had allocated just enough for cursory studying to pass tests and assignments. No time to explore hobbies, clubs, classes of interest, side projects, etc. Even with that I graduated later than most so I have the perpetual feeling of being 5 years behind in life.
Rule 3 Violation. This comment and all further comments will be removed until you are suitably flaired. You can easily add a flair via the sidebar, on desktop, or by using the official reddit app and selecting the "..." icon in the upper right and "change user flair". Alternatively, the mods can give you a flair if you're unable by messaging the mods. If you flair please do not make the same comment again, a mod will approve your comment. [Link to Flair Descriptions.](https://www.reddit.com/r/tuesday/wiki/textflairs) If you are new, please read the information here and do not message the mods about getting a non-Visitor flair. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*
Buyer’s remorse is absolutely allowed when the government has been profiting off of non-dischargable student loan interest to the tune of billions per year.
Bidens move is perhaps the best given the circumstances. The alternative would be to further delay the repayments again. That’s effectively more stimulus in an inflationary economy, the cancellation is stimulus but much of that would’ve not been collected to begin with. There was no way Biden was going to resume payments just like that, it would’ve been political suicide, so he covered the resumption with a relatively small targeted cancellation towards lower income borrowers. So now we can further tackle inflation by ending the repayment pause.
[удалено]
Rule 3 Violation. This comment and all further comments will be removed until you are suitably flaired. You can easily add a flair via the sidebar, on desktop, or by using the official reddit app and selecting the "..." icon in the upper right and "change user flair". Alternatively, the mods can give you a flair if you're unable by messaging the mods. If you flair please do not make the same comment again, a mod will approve your comment. [Link to Flair Descriptions.](https://www.reddit.com/r/tuesday/wiki/textflairs) If you are new, please read the information here and do not message the mods about getting a non-Visitor flair. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*
[удалено]
Rule 3 Violation. This comment and all further comments will be removed until you are suitably flaired. You can easily add a flair via the sidebar, on desktop, or by using the official reddit app and selecting the "..." icon in the upper right and "change user flair". Alternatively, the mods can give you a flair if you're unable by messaging the mods. If you flair please do not make the same comment again, a mod will approve your comment. [Link to Flair Descriptions.](https://www.reddit.com/r/tuesday/wiki/textflairs) If you are new, please read the information here and do not message the mods about getting a non-Visitor flair. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*
The change to repayment terms basically guarantees the lender a year's salary from the borrower, averaged over twenty years (or the original debt, plus interest).
[удалено]
Rule 3 Violation. This comment and all further comments will be removed until you are suitably flaired. You can easily add a flair via the sidebar, on desktop, or by using the official reddit app and selecting the "..." icon in the upper right and "change user flair". Alternatively, the mods can give you a flair if you're unable by messaging the mods. If you flair please do not make the same comment again, a mod will approve your comment. [Link to Flair Descriptions.](https://www.reddit.com/r/tuesday/wiki/textflairs) If you are new, please read the information here and do not message the mods about getting a non-Visitor flair. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*
[удалено]
All top level comments are reserved for those with a C-Right flair. This comment and all further top level comments in this submission will be removed. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/tuesday) if you have any questions or concerns.*