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Loan Forgiveness (Read 136 times)
Eegore
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Loan Forgiveness
11/29/23 at 10:16:59
 
 Over 800,000 student loans forgiven.  Not one with a ruling from the Supreme Court:

https://www.businessinsider.com/student-loan-forgiveness-income-driven-repaym...
'

The department announced on July 14 that borrowers who had made the required 20 or 25 years of qualifying payments

 These loans are not the newer loans that the Supreme Court ruled on.

 Those are found here:

https://www.businessinsider.com/student-loan-forgiveness-blocked-supreme-cour...


 157 out of hundreds of thousands were, by random chance, calculated correctly with literally no management from the loan recipient on their end.  This is known since there is literally no process available or known to audit the DoE loan calculations.  They were just lucky.  The Supreme Court did not rule on those loans.

 People who the Dept. of Education screwed by neglecting their accounting process and providing a non-applicable process of loan payment history as a resolution, sued.  Or "cried" if you want to consider holding the Dept of Education accountable by judicial process "crying".  Biden initiated a one-time recalculation by the DoE which will avoid decades of legal proceedings, potentially longer individual audits, manpower and resources, and most likely drum up some votes.

 The Supreme Court did not rule on this.  

 There is however litigation in process about the actual real forgiveness program, in regard to it conflicting with the Public Service Loan Forgiveness program.  This will most likely not proceed.  The Supreme Court has not ruled on this.

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WebsterMark
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Re: Loan Forgiveness
Reply #1 - 11/29/23 at 16:58:48
 
Thank you.
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MnSpring
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Re: Loan Forgiveness
Reply #2 - 12/15/23 at 08:43:23
 
Notice the word, ‘forgiveness’,
is used, rather than,
   ‘fulfillment’ !!!!


… The Biden Administration is moving forward in its negotiated rulemaking process to try to forgive student debt for federal borrowers. ……
The Supreme Court struck down President Joe Biden’s initial plan to forgive up to $20,000 of student debt per borrower in June. But the administration has continued to provide debt relief through existing programs like income-driven repayment and Public Service Loan Forgiveness …

https://www.cnbc.com/2023/12/05/biden-administration-releases-draft-student-d...

… More than a year after President Joe Biden first tried to make good on a campaign promise to cancel student loan debt, the final contours of his second attempt should become clear this week. …
… Biden’s original plan for large-scale student loan forgiveness was undone by the Supreme Court in June. It would have canceled up to $20,000 in loan debt and affected as many as 40 million people, or almost every person with federal student loans nationwide. …

https://www.usatoday.com/story/news/education/2023/12/11/biden-student-debt-r...

… 4 Major Student Loan Forgiveness Dates To Jot Down Now …
… The Biden administration has so far approved over 850,000 borrowers student loan forgiveness under the IDR Account Adjustment. This temporary program can provide retroactive credit toward a borrower’s 20- or 25-year loan …
… The Biden administration is in the process of developing a new student loan forgiveness plan to replace the one struck down by the Supreme Court …
… New Repayment And Student Loan Forgiveness Rules In July …

https://www.forbes.com/sites/adamminsky/2023/12/14/4-major-student-loan-forgi...

… How To Get Student Loan Forgiveness Under Expiring Biden Program …
… Student Loan Forgiveness Credit Automatic For Some Borrowers …
…Any borrowers with loans that have accumulated eligible time in repayment of at least 20 or 25 years will see automatic forgiveness, …
… one of those loans qualifies for forgiveness, you may benefit from consolidating in order to get all of your loans forgiven …
… there is a limited opportunity for these individuals to get out of default and receive the benefits of the IDR Account Adjustment, including credit toward student loan forgiveness. …

https://www.forbes.com/sites/adamminsky/2023/12/08/how-to-get-student-loan-fo...
              (And MANY More)

Absolute bottom line is, Mush For Brains is GIVING people, YOUR money, so a potential 40 MILLION people (as well as a flood of Non Citizens) will vote for him, or his party.

Used to be that when one BORROWED money, they paid it back.
Also 2+2, used to be 4.
Now it is 3 or 5, depending on your Pronoun.

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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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Eegore
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Re: Loan Forgiveness
Reply #3 - 12/15/23 at 20:33:01
 
Used to be that when one BORROWED money, they paid it back.
 
 Unless it wasn't part of the agreement.  Conscripts as far back as Sumerian era Mesopotamia could have an agreement for debts to be forgiven as long as they worked the agreed time.



 Was it Biden who said:

"For it would be absurd that a soldier, at the moment perhaps when he was setting forth to fight for his fatherland, should be haled to prison by his creditor for an unpaid loan, and that the greed of private citizens should in this way endanger the safety of all."

 Oh wait that was Diodorus Siculus from 1st Century BC.

 Debt forgiveness was first documented in 2400 BCE by Enmetena of Lagash.

 It's in the Bible, Deuteronomy 15 v 9.

 Ptolemaic era Egypt used taxation to forgive debt.

 Loan forgiveness paid off by citizen taxation isn't new.  

 The claim that Biden "did it anyway" after a Supreme Court ruling is incorrect.  Also claiming it's Your Money in multiple cases is incorrect as the money is actually privately invested.

 I'm sure he will figure out a way to get as many loans paid off as he can and do it with US tax dollars.  He needs those votes.  However claiming they are all that way, and that government loan forgiveness was not common is incorrect.

 
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MnSpring
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Re: Loan Forgiveness
Reply #4 - 12/16/23 at 07:43:15
 
Eegore wrote on 12/15/23 at 20:33:01:
"...   Unless it wasn't part of the agreement.  ... " 

"...Diodorus Siculus from 1st Century BC.
2400 BCE by Enmetena of Lagash.
in the Bible, Deuteronomy 15 v 9 ..."


So you believe that, because the ‘Forgiveness of a loan’ occurred thousands of years ago, it should still be practiced today?
Do you also believe that the many other, ‘common’, practices used then, should still be used today ?

The phrase, ‘Used to be that when one BORROWED money, they paid it back.’,
Should have been:
‘Used to be in the last 100+ years, when one BORROWED money, in the USA, they paid it back.’

“Was it Biden who said:   "For it would be absurd that a soldier, at the moment perhaps when he was setting forth to fight for his fatherland, should be haled to prison by his creditor … “

That sure sounds a LOT like BOT talking.
Can you supply, PROOF, that Pudden Head said that ?

“…claim that Biden "did it anyway" after a Supreme Court ruling is incorrect...”

He is working very hard to do just that, as the previous posts outlined.

“…claiming it's Your Money in multiple cases is incorrect as the money is actually privately invested….”

That does Not Negate, that YOUR Tax dollars are being used to PAY, someone else’s, Failures to pay.
      (And you know exactly how that works)

Again, bottom line, a ploy to garner votes !!!!!!
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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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Eegore
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Re: Loan Forgiveness
Reply #5 - 12/16/23 at 11:57:39
 
So you believe that, because the ‘Forgiveness of a loan’ occurred thousands of years ago, it should still be practiced today?
Do you also believe that the many other, ‘common’, practices used then, should still be used today ?


 I said nothing like that.  That is just an over-reaction to my assessment that government loan forgiveness is historically present in human civilization.  Like if I say 8 Million kids didn't die in 2021 you say that I agreed with the CDC counts.  I never said that either.

 If we use my words one can assess I said the idea that government loan forgiveness is some new idea is wrong.  The whole "it used to be" that people paid back loans in full, must pre-date recorded history because a lot of evidence says otherwise.




‘Used to be in the last 100+ years, when one BORROWED money, in the USA, they paid it back.’

 This would also be wrong.  You could get government loan forgiveness as early as 1779.  The idea that human US citizens did not have the option to work-off or negotiate a pay-off (forgiveness) is wrong.




He is working very hard to do just that, as the previous posts outlined.

 I agree.  I also said that.  You seem to not Observe that.  My post is in relation to the lie that Biden "did it anyway" in regard to a Supreme Court ruling.  That's a lie.  What you will hear instead is "I agree with loan forgiveness in all forms using US tax dollars, Biden is God"  

 Everyone else it seems will just acknowledge what I actually said.




That does Not Negate, that YOUR Tax dollars are being used to PAY, someone else’s, Failures to pay.
     (And you know exactly how that works)


 I believe I know more about how it works than you do as I can at least acknowledge that some are not using US tax dollars.  Of course it is for votes, I said that multiple times, you will not Observe that.  I also said loans without previous agreement should not be part of tax-funded dilution.  You will not Observe that, instead you will claim I think loan forgiveness should happen.

 Previously agreed upon loan forgiveness should however be honored.  "It used to be" is not an argument to defend screwing over people that fulfilled their agreements.  They "managed their affairs" per the requirements and the Government just said "oops, my bad, keep paying".  

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MnSpring
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Re: Loan Forgiveness
Reply #6 - 12/16/23 at 13:39:06
 
Eegore wrote on 12/16/23 at 11:57:39:
"...  The whole "it used to be" that people paid back loans in full, must pre-date recorded history ..."

Oh Golly Gee,

   I could have had a V8 !!!!!!!

Instead of repaying Loans.

(Especially the ones I made under the Carter 'Regime' !)
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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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Eegore
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Re: Loan Forgiveness
Reply #7 - 12/16/23 at 16:31:01
 

Oh Golly Gee,

  I could have had a V8 !!!!!!!

Instead of repaying Loans.

(Especially the ones I made under the Carter 'Regime' !)



 That example is again freely mixing humans with no agreement for loan forgiveness with those that did.  Do you really think people can't tell the difference between a pre-arranged agreement and a human defaulting on a loan?

 Humans with pre-loan agreements should not be screwed over by their government and then compared equally to humans that did not have agreements and told they should have "managed their affairs".  Your example is nothing more than saying you should have committed a crime because other humans had legal agreements different than yours.

 Mixing people with pre-agreed upon criteria and those that did not makes no sense.  The phrase "it used to be" is not a valuable argument for humans that have legally binding agreements for loan forgiveness.
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MnSpring
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Re: Loan Forgiveness
Reply #8 - 12/16/23 at 16:59:36
 
Eegore wrote on 12/16/23 at 16:31:01:
"... Your example is nothing more than saying you should have committed a crime because other humans had legal agreements different than yours...." 


WOW, and you say the,

‘Banning a red car will stop Bank Robberies…’

Is a Bad Analogy ???
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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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Eegore
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Re: Loan Forgiveness
Reply #9 - 12/16/23 at 21:11:42
 
I could have had a V8 !!!!!!!

Instead of repaying Loans.


 That's different than humans that PAID their loans for the time required.  It is literally the exact opposite behavior.

 Mixing the two makes no sense.  The phrase "it used to be" is not a valuable argument for humans that have legally binding agreements for loan forgiveness.
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« Last Edit: 12/16/23 at 22:53:49 by Eegore »  
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Re: Loan Forgiveness
Reply #10 - 12/17/23 at 05:54:18
 
The point of this topic is its ridiculousness.

First off, nobody’s canceling anything. Taxes will be used to pay off financial institutions so they recoup interest and perhaps penalties. Those institutions have already paid the university so they’re taken care off. The students got their “education” which means those three groups are made whole. The only one who looses is me.

The excuse behind this is that once free of this debt, those bright young minds will be able to contribute to the economic growth of society. Which is  bull$hit because if they could get a job based on their degree and contribute, they already would have.

It’s votes. Young people are predominantly liberal because they’re stupid, not having experienced life. This is a great way to lock in votes for two or three cycles.

How about paying off all car loans for people earning under 50k a year? That would free up income for those who need it more than these students, but a higher percentage of them wouldn’t vote as demanded so that’s a no go.

My girl Ann Coulter is right, Liberalism is a mental disease.
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Re: Loan Forgiveness
Reply #11 - 12/17/23 at 06:02:14
 
Eegore wrote on 12/16/23 at 21:11:42:
"...  The phrase "it used to be" is not a valuable argument for humans ..."

Just like people were forced to take a experimental vaccine, when they did not have to.

Just like the CDC/WHO inflating numbers of deaths.

Just like the higher death rate occurred for those that took the vaccines.

Just like Doctors and Nurses,
       who told the truth,
of what they were seeing,
         were censored.


        OK, Got it !
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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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Re: Loan Forgiveness
Reply #12 - 12/17/23 at 06:27:56
 
WebsterMark wrote on 12/17/23 at 05:54:18:
"... How about paying off all car loans for people earning under 50k a year? That would free up income for those who need it more than these students, ..."


     AWESOME Idea !!!!!!!

 Right up the alley of the 'WOKE'.

Alas, it will never happen because:
"...  (they), wouldn’t vote as demanded ..."

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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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Re: Loan Forgiveness
Reply #13 - 12/17/23 at 06:45:01
 
There is an advantage to free education.

Graduates do not have to leave anything in return and will therefore be less likely to work for companies that only have money as their goal and be prepared to pay a lot and steal our most intelligent people in that way.

This brings a lot of talent to places that serve society and science.
It is a sustainable way to invest in society as a whole.
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Do what you know is right. (you can always use fear as a counselor later)
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Re: Loan Forgiveness
Reply #14 - 12/17/23 at 06:51:58
 
Eegore wrote on 12/16/23 at 11:57:39:
"... I believe I know more about how it works than you do ..."

Can you give us a dissertation about which Bankruptcy one should file, when seeking, relief/non payment, from a debt.

And how that debt differs from a student loan, which was not fulfilled, yet forgiven ?




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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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