ALL MSU grads for the last 30 years are eligible for up to $10,000 in federal loan forgiveness!

[Bobbert]

One thing you can say about Democrats (which I'm not). When they've got the power, they know how to go after what they want, knowing full well that it will cost them at the polls. But until then, party on, because they know that the political pendulum will swing their way again. 2009-2011 under Obama got them big spending bills and Obamacare. 2021-2023 under Biden got them big spending bills plus this.

Contrast that with the Republicans, who spend their two year periods of absolute power (under GWB and Trump) fighting among themselves and getting very little done.

[kager]

It's a fiscally absurd welfare handout designed to drive recent college loan borrowers to the polls to vote Democrat.

True.

I thought Biden wanted to reduce inflation

Not really, right?

Obiden knows he won't be around to see what he's done once it is fully realized.

[Motown322]

I left college 20+ years ago with about $25,000 in student loans to pay back. Took me 10 years to do it and it was pretty difficult at times along the way trying to save money to buy a house and put money away for retirement, pay rent/bills and all that other stuff. I'm actually happy that there's going to be a lot of people that don't have to go through that now. Doesn't bother me a bit.

I do find it humorous that a lot of the usual suspects I've seen in the news/social media today that have made a living off off the "Suck it up, you snowflakes... life isn't fair!!!!" mantra are having a complete meltdown over how "unfair" this is.

[Matt]

I left college 20+ years ago with about $25,000 in student loans to pay back. Took me 10 years to do it and it was pretty difficult at times along the way trying to save money to buy a house and put money away for retirement, pay rent/bills and all that other stuff. I'm actually happy that there's going to be a lot of people that don't have to go through that now. Doesn't bother me a bit.

I do find it humorous that a lot of the usual suspects I've seen in the news/social media today that have made a living off off the "Suck it up, you snowflakes... life isn't fair!!!!" mantra are having a complete meltdown over how "unfair" this is.

It's essentially cash for clunkers for educated people. I paid my loans off 6 years ago, in just over 10 years. I borrowed slightly above $10,000. I'm not opposed to helping these people, but it is a handout and will likely have a negative impact on inflation.

[km1125]

Maybe they should get their money back, since it was a four year party for many, and they didn't end up getting a marketable degree. Many had to go back to school later to places like Walsh to get a marketable degree. There are serious students, but I can't figure out where they could live to study without a lot of commotion. Not dorms. Not apartments like Cedar Village.

If they didn't get a marketable degree, that's because they didn't do ANY homework about what degrees WERE marketable when they went through the program!!!

Oh, and these days just about ANY degree IS a marketable degree. It may only be for a beginning position in a telemarketing company, but again that's due to the selection of that particular degree program.

My kid walked out of college into an $82,000 job. Many engineering grads break $100k. Don't get started with CS grads with a good degree.

What kind of stupid are you thinking you can't get a great job with a degree?

Was that really in response to my post?? Do you really think just getting ANY degree qualifies someone for a good paying job??

[Motown322]

A college degree is gonna open a lot of doors that wouldn't otherwise be available. In my line of work, I don't necessarily think that you have to have a degree to do it, but the company mandates it so I play the game when we're looking at candidates. What having a degree tells me about someone is, they started something that likely was difficult along the way and they stuck it out and saw it through. That tells me they're likely not going to bail at the first sign of adversity in a project. They probably had to work on group stuff along the way with people that didn't pull their weight... guess what? That shit happens every day in the real world workplace.

[km1125]

A college degree is gonna open a lot of doors that wouldn't otherwise be available. In my line of work, I don't necessarily think that you have to have a degree to do it, but the company mandates it so I play the game when we're looking at candidates. What having a degree tells me about someone is, they started something that likely was difficult along the way and they stuck it out and saw it through. That tells me they're likely not going to bail at the first sign of adversity in a project. They probably had to work on group stuff along the way with people that didn't pull their weight... guess what? That shit happens every day in the real world workplace.

Foolishly, our company does the same thing. Requires a degree (any degree) for entry-level positions in the call center. Makes it extremely hard to keep seats filled because they are paying entry-level wages.

The company itself would **never** make an investment like that, paying $40-100K for the training to get a $15-16/hr job, but they expect those employees to do it.

[Motown322]

I agree 100%... which is why the idea of making people take on debt to get a college degree as some sort of entrance fee to a career is fucking idiotic. The insane cost of a 4-year degree is the next issue that needs to be addressed. The amount of debt I left school with would barely pay for a year of tuition/housing/books now at the same place.

[km1125]

I agree 100%... which is why the idea of making people take on debt to get a college degree as some sort of entrance fee to a career is fucking idiotic. The insane cost of a 4-year degree is the next issue that needs to be addressed. The amount of debt I left school with would barely pay for a year of tuition/housing/books now at the same place.

What was just done not only doesn't fix that, it makes it worse.

[Motown322]

Let's see how this all shakes out... nobody bats an eye when H*** tax cuts add to the deficit or the defense budget goes up another $5 billion. Whether people say "SOCIALISM!!" or "ECONOMIC STIMULUS!!!" about shit like this just depends on the jersey of the team they're wearing.

I just can't see how this is a bad thing for people.

[bmw]

[The President] can postpone, he can delay. But he does not have that power. That has to be an act of Congress.

By delivering historic targeted student debt relief to millions of borrowers, more working families will be able to meet their kitchen table needs as they continue to recover from the challenges of the pandemic. Importantly, this action will help those most in need, easing a financial burden disproportionately harming women and people of color.

[MotorCityRadioFreak]

My federal student loan was closed out in 2009, yet I think this is great. You know how everyone was bagging on Gen X and millennials for not buying houses? Well, now that their student loans are paid off, they may be able to buy homes. This is big for social mobility. It was also big that boomers will get their hearing aids OTC starting January 2023.

It's amazing how Republicans complain about these sorts of things then use them and say "Well, if the government is offering, I should get mine." Hearing aids are going to go down in cost now for Boomers. My mother paid $4000 for hers two years ago. Prices are rumored to be $700-800 for these now that they will be OTC.

Add to that, our governor wants to end the pension tax so that seniors can live better. We're definitely on the right side of history on these programs. I know the right bitched about Social Security when FDR introduced it 90 years ago, but they have no problem using it now. Funny how that works....

[Rate This]

Not to mention, there is no "emergency" involved with regard to the mass cancellation of student debt. He's doing it because he thinks it'll be politically popular. Why do people making well above median income, who are incurring no financial hardship, need debt cancellation???

This sends the message that it's no big deal if you don't repay borrowed monies. It also sends a message to educational institutions that they can charge exorbitant tuition, and that the federal government will pick up the tab.

I’ll be getting the full $20,000 in cancellation… leaving me with about $40,000 left.

When I went into college at 18 with no guidance the hook for me to sign up for this enormous waste of money was “You WILL get a great job”… it’s false advertising. What they could do and be far more effective is this combined with capping tuition at say $10,000 a year if you want to participate in federal student loan programs. The whole thing would have to adjust itself… none of these schools want to be forced off that gravy train.

I did pick up a blurb I didn’t know about though… after 20 years these debts are automatically cancelled anyway.

Not buying that moving some 0’s around on the feds balance sheet is gonna cause inflation to go nuts. It might result in a little more spending by the folks with less payment to make or something but inflation? Unlikely.

[Motown322]

My wife has had increased hearing loss for the past 10+ years and we finally had to get hearing aids for her last fall... 6 grand out of pocket because insurance won't cover them (apparently your ears aren't an integral part of your overall health well-being).

[Ben Zonia]

I know a High School Valedictorian who went to U of M, and was going to major in Engineering, and had so many "weeder" courses that he ended up majoring in Psychology. Never understood why so many talented people were considered weeds by professors, rather than just to try to teach courses. Many do well in the same programs at other schools.

I knew three others with sky high SAT scores, one another Valedictorian, who went to U of M and who left before the end of first year. One joined a religious cult, another got mixed up with a situation like in "The Sterile Cuckoo", but this one wasn't sterile, one committed a property crime and was expelled.

Lots of people in graduate school end up with terminal Masters degrees. One stayed at U of M and never got a Ph.D., one left MSU for another school and got a Ph.D. Usually there is a conflict with the faculty committees. You have to find another school if this is the case.

If you aren't used to being away from home, you may want to go to a 4 year commuter college, at least until you get your academic "sea legs".

Also, while it is advisable that people that are inclined to go into STEM related fields or business, not everyone is cut out for those programs. College isn't about studying subject matter alone - it is about learning how to live in society and transitioning to adulthood. Commuter colleges cheapen the college experience in that you're not having experiences that will shape your future and make you a more well-rounded human being. College is 4 years for most, but the key is that you translate what you've learned from all aspects of college life to ~40 year career.

These people were fully capable of becoming engineers. The kid who was expelled got a 750 on the Math SAT. The one Valedictorian who majored in Psychology was working in engineering already. The fertile cuckoo hitchhiked and camped out outside his classes, and nature prevailed without parental supervision. They had U of M Maladaptation Syndrome, being away from home for the first time, and probably living in a horrible place. They probably would have been better off at MSU if they were serious and didn't let the party school people drag them down, because of less cut throat competition.

I had a full academic scholarship for the first four years. I don't want to brag, but I'm so tired of you people putting me down. I know what I'm talking about.