SuzukiSavage.com - Okay, here goes the college debt thread

WebsterMark

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Okay, here goes the college debt thread
08/25/22 at 05:30:33

Here's one thing I read which is astounding to me.

If you're a White House staffer at a certain level, you're required to file financial disclosure forms. Bloomberg News analyzed those and compiled data that indicates 30 White House staffers together owe a minimum of 2 million and a maximum of 4.7million in college debt. One single staff owes between 500k and 1 million.

Ponder that for a second. 30 people who work in the White House and are at a level it is felt their financial situation needs to be understood from a security point of view, which I agree with, owe at least 2 million and perhaps as much as 4.7 million dollars. That's an average of between $66k and $156k.

That's what you and I are helping to pay.

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Eegore Serious Thumper Offline SuzukiSavage.com Rocks! Posts: 8376	Re: Okay, here goes the college debt thread Reply #1 - 08/25/22 at 07:59:14 Did it say if they make less than 125k a year?
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MnSpring

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Re: Okay, here goes the college debt thread
Reply #2 - 08/25/22 at 08:29:46

WM, WM, WM, Don’t you understand.
That is EXACTLY what the UL, DFI, FDS Socialists WANT !

Look at JUST a few things the Socialists, soon to be Communist Want !

A company is telling you, YOU MUST, remove things, (Like Nome’s) from your yard.
If someone likes Nomes, why do they HAVE to remove them ?
Golly Gee Wally, if the (SMUG) person sitting at a desk, with things on the shelf/wall behind him, had someone come in and grab something, then throw it in the garbage, what would HE say ?????

TV producers are now making all sorts of, ‘reality’ shows, which are extremely popular, which, SHOW, people the way to get gobs of money, is CHEAT and LIE. Instead of TV shows ‘showing/teaching’, Honesty and Ethics.

A bunch of, silver spoon people, yelling, Gimme, Gimme, Gimme, get FREE Money, to party with. While other people borrowed money, used it responsibility, then PAID IT BACK.

So do NOT expect ANY, UL, DFI, Socialistic FDS’er to say ANYTHING bad about GIVING YOUR Money, to LAZY, ‘Gimme, Gimme, Gimme’, CRIERS !

Including the puppet MUSH FOR BRAINS latest,
of GIVING YOUR Money AWAY !

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Ben Franklin once said: "If you give up a freedom, for the sake of security, you will have neither".
Which is More TRUE, today, than yesterday.('06, S-40, Stock) well, mostly .

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Serowbot YaBB Moderator ModSquad Offline OK.... so what's the speed of dark? Posts: 28695 Tucson Az Gender:	Re: Okay, here goes the college debt thread Reply #3 - 08/25/22 at 08:40:47 ...and Trump only gave money to billionaires
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WebsterMark Serious Thumper Offline SuzukiSavage.com Rocks! Posts: 13167 Gender:	Re: Okay, here goes the college debt thread Reply #4 - 08/25/22 at 09:42:08 Serowbot wrote on 08/25/22 at 08:40:47: ...and Trump only gave money to billionaires I’m not a billionaire and I did a hell of a lot better with Trump. This is the part you never seem to grasp, Trump was better for middle-class people by far.
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justin_o_guy2

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Re: Okay, here goes the college debt thread
Reply #5 - 08/25/22 at 12:29:51

Serowbot wrote on 08/25/22 at 08:40:47:

...and Trump only gave money to billionaires

How anyone can believe that is beyond me. And you believe I support Trump, and he tells me what to believe. No. I supported Trump because he Said what I already believed.
But he screwed up. He embraced the people who were the swamp he said he was going to destroy. And the Warp Speed thing was either a horrible mistake or he is part of the swamp. Time will tell.
But Trump made life better for the people. Not just the wealthy.

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The people never give up their liberties but under some delusion.- Edmund Burke.

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Eegore

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Re: Okay, here goes the college debt thread
Reply #6 - 08/26/22 at 07:09:31

So I'm not seeing the inflation issue here.

From a POTUS preference standpoint where math doesn't matter because the decision is based on "who" not "what" is happening, sure make it about inflation, but using math I don't see it.

At the maximum, lets say 400 Million, that by my calculations came to 1.8% of GDP. Goldman Sachs calculates it at 1.6% of GDP.

Since middle-income humans stand to benefit the most (income limitations and most low-income don't have the debt) we are looking at a .1% reduction in payments. 0.4% of personal income to 0.3% estimated by Goldman Sachs.

We have to remember Treasury output, even at 400 billion over 24 months is that the Government already funded those loans. Combine this with a 50% reduction in income-to-debt repayment ratio and the annual household income increases slightly.

How can this possibly create any significant impact on inflation?

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justin_o_guy2

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Re: Okay, here goes the college debt thread
Reply #7 - 08/26/22 at 10:58:53

Regardless of what damage it causes, it simply should not be happening.
Before the government got into the student loan business, it just wasn't that expensive. I went for a year on the GI bill, had a low buck part time job and still had money for the pool table and beer. The books weren't too hard to pay for. Fees for chemistry lab weren't anything special. It was a junior college, and I don't know what it costs now. But the big colleges have added all kinds of new courses. And there are people sitting in offices, administrators, overseeing these very important career paths.. Like gender studies, and such. The people who graduate,what do they do? Where is the job market? Ohh,wait.. That is Why the people who took that crap can't pay the bills.
Transferring the burden of the loans from the people who took them out is just wrong.
The people who responsibly went to school and worked to pay as they went,and the average taxpayer, many who never went to college, are Now being Told that they are going to pay for someone else? Some of those colleges are sitting on Endowment funds that would pay off the outstanding loans and still have bucks to spare. If they don't change the way things are being done, this is just going to happen again.

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The people never give up their liberties but under some delusion.- Edmund Burke.

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Eegore

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Re: Okay, here goes the college debt thread
Reply #8 - 08/26/22 at 11:54:16

While the GI bill isn't a loan, it is still the Government using tax dollars to pay for someone's education. It is much more reasonable due to the prerequisites to get it.

"Transferring the burden of the loans from the people who took them out is just wrong."

I agree. Requiring that any human assist in the repayment of another human's free choice to acquire debt is inappropriate. Each recipient chose to take on this financial burden.

Predatory lending, or duplicitous contract work/promises etc. are a different story, but there is no standard to prove it exists in this particular case.

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buster6315

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Re: Okay, here goes the college debt thread
Reply #9 - 08/27/22 at 09:05:23

justin_o_guy2 wrote on 08/26/22 at 10:58:53:

Regardless of what damage it causes, it simply should not be happening.
Before the government got into the student loan business, it just wasn't that expensive. I went for a year on the GI bill, had a low buck part time job and still had money for the pool table and beer. The books weren't too hard to pay for. Fees for chemistry lab weren't anything special. It was a junior college, and I don't know what it costs now. But the big colleges have added all kinds of new courses. And there are people sitting in offices, administrators, overseeing these very important career paths.. Like gender studies, and such. The people who graduate,what do they do? Where is the job market? Ohh,wait.. That is Why the people who took that crap can't pay the bills.
Transferring the burden of the loans from the people who took them out is just wrong.
The people who responsibly went to school and worked to pay as they went,and the average taxpayer, many who never went to college, are Now being Told that they are going to pay for someone else? Some of those colleges are sitting on Endowment funds that would pay off the outstanding loans and still have bucks to spare. If they don't change the way things are being done, this is just going to happen again.

Many of these colleges need to SLASH their tuition charges! Years ago I was able to pay for my tuition with money I earned working part-time at the local service station. I was living at home. A few years ago I checked into the cost for a Masters degree, and the price per credit was 'through the roof!' These poor kids these days need to study what their college education will get them as far as employment after graduation. I say more should learn a trade! Those jobs will pay in the six figures, and they will not be saddled with so much debt.

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justin_o_guy2

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Re: Okay, here goes the college debt thread
Reply #10 - 08/27/22 at 10:15:54

Agreed, Buster,they need to slash tuition. It only got stupid after they saw students would accept huge debt for their diploma. The schools discovered New Degree avenues. They hired people to teach classes that had never existed. And, of Course, every good bureaucracy must have Administrators. So they hired people who would satisfy the Woke crowd to teach Wokeness. How could it have failed?

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The people never give up their liberties but under some delusion.- Edmund Burke.

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