Biden declines Democrats' call to cancel $50K in student debt

[MJHolland 12,725]

rip 💀

50 minutes ago, President Biden said:

1. That’s an unproven conspiracy theory

2. Sander’s “popularity” is not legit popularity if you admit all it takes to beat him was a few endorsements from less knowner moderates.

3. Biden won black voters in a lopsided margin, in particularly black women. He also won every demographic of older voters of color.

4. Congrats every gave you a one dollar bill! Again, not how we win elections. Don’t progressives hate money dictating politics anyhow? “Record donations” don’t make you President, record voter turnout does. 

Agree with most of this 

 

56 minutes ago, President Biden said:

Sorry but the last thing we need is the government repaying the debt of every person that made the poor decision to get an expensive-yet-worthless degree in like “Interior Designing” or “Musicology”, and then never used it. 

 

The government is not responsible for your reckless spending....

I disagree strongly with this, that is such a baaaddddd take sis like damn you sound like Tucker Carlson here lmao 

[Ceres 3,342]

Pretty sure I can't post links, but an update is that once he has the DOJ members sworn in, he will review what he can/ can't do via executive order.

He also wants to figure out how the repayments would work between borrower's income, public vs. private school, etc.

personal opinions aside, at least he's taking action and we have some time until payments are due (october 1st) Hoping after covid distribution, he will set a plan in early summer. 

[Chromatican 4,046]

52 minutes ago, MJHolland said:

rip 💀

Agree with most of this 

 

I disagree strongly with this, that is such a baaaddddd take sis like damn you sound like Tucker Carlson here lmao 

These people who stan Biden know that he is making a bad decision here so they are deflecting it onto "irresponsible" and "reckless" people who got "worthless" degrees and are therefore deserving of their crushing debt.

[Chromatican 4,046]

2 hours ago, President Biden said:

1. That’s an unproven conspiracy theory

2. Sander’s “popularity” is not legit popularity if you admit all it takes to beat him was a few endorsements from less knowner moderates.

3. Biden won black voters in a lopsided margin, in particularly black women. He also won every demographic of older voters of color.

4. Congrats every gave you a one dollar bill! Again, not how we win elections. Don’t progressives hate money dictating politics anyhow? “Record donations” don’t make you President, record voter turnout does. 

Sander's popularity was obvious, and it took a well known former VP who had tons of endorsements and corporate money behind him to stop his momentum. Not you underestimating how impressive Bernie's grassroots funding was. I guess it's more impressive to take corporate money. That's the distinction progressives have, between being a people powered campaign and a corporate powered campaign. I'm sure you know that, but have fun shilling for an accused rapist.

[President Biden 5,898]

47 minutes ago, Chromatican said:

Sander's popularity was obvious, and it took a well known former VP who had tons of endorsements and corporate money behind him to stop his momentum. Not you underestimating how impressive Bernie's grassroots funding was. I guess it's more impressive to take corporate money. That's the distinction progressives have, between being a people powered campaign and a corporate powered campaign. I'm sure you know that, but have fun shilling for an accused rapist.

you still ignore the fact that Biden won overwhelmingly more votes that Bernie, because the vast majority of Democrats preferred Joe. 

[Chromatican 4,046]

3 minutes ago, President Biden said:

you still ignore the fact that Biden won overwhelmingly more votes that Bernie, because the vast majority of Democrats preferred Joe. 

And? I still don't have to like everything he does. I voted for him in November, so I'll criticize him as much as I want.

[Serial Chiller 8,044]

2 hours ago, MANiCURE1295 said:

The question was 

“do we want Trump back now that Biden won’t forgive 50K in student loans”

 

and I said no, whether Biden wants 50K forgiven or not won’t make me want Trump back because he was a xenophobic, transphobic, misogynistic disgusting man.

 Any other overreaching assumptions about my political beliefs you wanna make there buddy? 

your statement was literally so laughable I almost didn’t even respond. People are so thick I swear. 

sis.

everyone and their mom recognized that statement was being sarcastic. 

u think u were doing sth there by trying to spell it out for us? 

keep saying "at least he's not Trump" for the next 4 years and get ready for Trump in 2024. 

 

[Togekiss 3,122]

While I would have personally benefited from him doing this via EO, I can understand why he prefers this to be done by congress.

Remember Democrats still control both houses, I wouldn’t consider this issue dead. He’ll definitely sign a debt forgiveness bill if it lands on his desk.

[Monster647 444]

2 hours ago, MJHolland said:

I disagree strongly with this, that is such a baaaddddd take sis like damn you sound like Tucker Carlson here lmao 

I disagree with the way it was expressed bc it’s entirely possible for a gifted individjal to make more money & contribute to society with an arts degree than a mediocre person with an engineering degree BUT 

I think earning potential of the intended degree should be considered in availability of student loans and the academic potential of the individual in some objectively measurable fashion. I did bunch of stupid decisions when I was 17-18, I don’t think it’s good social planning on government’s end to give 100% freedom of choice to 18 years olds.

I know individuals (even in countries where tutition is free) who got student loans just to “live their youth” by going to college with randomest dead-end degrees they remotely found interesting among their options which were few bc they were not the brighteat academically  (no dedication to the area). Overwhelming majority of those people are unable to pay that money back now. Yes, they enjoyed their youth as per their own choice but they are quiet miserable now with no career prospect ++ tons of debt thanks to which some don’t even want to get a proper job that pays your salary to your bank account bc government directly takes a certain percent of it away bc of their debt. They would have been much happier in long term if they learnt a trade.

[Monster647 444]

8 hours ago, Whispering said:

Lol, some people still so upset cause their guy lost.

 

Some statistics to keep in mind: One third of the country has college degrees. They earn, on average, $471 dollars more per week than those with just a high school degree. Over their careers, the college grads will earn a million more than their peers with high school degrees. 

Q1) Can you share the source for this? 
Q2) Is there a breakdown of this statistics by bachelor’s major ? I would like to see how this variance changes in between industrially desired degrees and degrees that have rare applications outside of academia.

[Monster647 444]

10 hours ago, AJRocketMan said:

But then less students would be admitted into schools though. While higher education is free in Europe, the acceptance rates are a lot lower and the requirements and tests to get in are a lot more strict.

Hmmm would that be a bad thing ? (No snark, genuine curiosity) It could allow better social planning by allowing more capable individuals to be sorted into careers requiring higher intellectual might.

Although I don’t have data to back it up right now, I’ve always gotten the impression that the North America is always in need of more skilled trades people rather than white collar workers. 

[Whispering 18,865]

9 hours ago, Chromatican said:

What does this have to do with whether or not Biden should forgive student loan debt or not?

College graduates borrow money to go to college and make more money per week and over their lifetime. They make more because they made an investment in their future.

[Whispering 18,865]

1 hour ago, Monster647 said:

Q1) Can you share the source for this? 
Q2) Is there a breakdown of this statistics by bachelor’s major ? I would like to see how this variance changes in between industrially desired degrees and degrees that have rare applications outside of academia.

bls.gov

That site might have that information?

[HausOfAntonio 8,021]

Let everyone get degrees for free then everyone would become extremely skilled workers and society would peak 

[HEARTSTOP 3,154]

5 hours ago, Monster647 said:

I disagree with the way it was expressed bc it’s entirely possible for a gifted individjal to make more money & contribute to society with an arts degree than a mediocre person with an engineering degree BUT 

I think earning potential of the intended degree should be considered in availability of student loans and the academic potential of the individual in some objectively measurable fashion. I did bunch of stupid decisions when I was 17-18, I don’t think it’s good social planning on government’s end to give 100% freedom of choice to 18 years olds.

I know individuals (even in countries where tutition is free) who got student loans just to “live their youth” by going to college with randomest dead-end degrees they remotely found interesting among their options which were few bc they were not the brighteat academically  (no dedication to the area). Overwhelming majority of those people are unable to pay that money back now. Yes, they enjoyed their youth as per their own choice but they are quiet miserable now with no career prospect ++ tons of debt thanks to which some don’t even want to get a proper job that pays your salary to your bank account bc government directly takes a certain percent of it away bc of their debt. They would have been much happier in long term if they learnt a trade.

This is true. I know some people here in Portugal who have student debt, when tuition is under 1000€ a year, and there's social help for people who can't pay (the amount they give you is, at the very very least, enough to pay tuition and school housing with expenses included). They simply wanted a bohemian student life and used education as an excuse for the easy bank loans, many of them relying on their parents to pay it back.

I believe there might be a few exceptions but it does come down to poor financial choices. Our unemployment centers have free courses and some of them even pay you to take them. Poor families have extra help from social security. City halls give extra scholarships to people who have been left out of the university's social help but still might need a bit of help. There's no reason to get a loan to study.

In the US, most of these "socialist (OH NO) things" don't exist so they're in a worse place obviously, but fully excusing loans won't help these people in the long run if they're gonna keep making poor financial choices. Maybe reducing the loans to a more appropriate amount, and then giving them ways to repay that remaining amount by educating themselves at the same time would be a better option. Give these people jobs or remunerated courses for a trade where they can get experience and fulfill their financial responsibilities at the same time.

And obviously, progressively change the education system to be a free right, and add basic financial education to the high school curriculum. Honestly, they keep the capitalist wheel spinning on ignorance alone.