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

[Matt]

https://www.cnn.com/politics/live-news/ ... index.html

[km1125]

Anyone taking advantage of this program should be required to give up any credits or degrees that were paid for by these $$.

[Ben Zonia]

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.

[MWmetalhead]

We can add most GLIAC schools to the list, too.

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

Comparison by Biden to CARES Act monies given to businesses is outrageous. Those businesses were forced by government to close their doors or operate at greatly reduced capacity for months on end. Those monies also helped fund the purchase of protective gear and other COVID mitigation measures.

I thought Biden wanted to reduce inflation? This irresponsible action just turbo charged our inflation problem.

[MWmetalhead]

By the way, I paid back my loans, in full, within 7 years of graduating. I was earning maybe $75,000 a year in that seventh year. Where is my refund? Instead, I get to enjoy diminution to my hard earned savings, whose future purchasing power will shrink. Yippee.

[TC Talks]

As someone who paid for college by painting houses and working at a radio station, I'll take the credit. Except: I graduated 31 years ago.

And any of you sour grapes who commented; please refund any small business tax credit you have ever received. It's the same type of welfare.

[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.

[TC Talks]

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?

[MWmetalhead]

TC Talks - I've long opposed most corporate tax credits or MEDC-type programs where well connected business people get sweetheart financing. I am no fan of crony capitalism.

Crisis bailouts or loans are a different story and are necessary in some instances to prevent economic calamity.

[bmw]

So now the President has the unilateral authority to cancel hundreds of millions of dollars of debt? Sounds unconstitutional to me. I thought Congress controlled the purse. Even this straight from USA Today a few years ago:

It's true that the Constitution gives Congress the power of the purse, meaning the president cannot spend money without Congress appropriating it.

https://www.usatoday.com/story/news/fac ... 582667002/

What Biden has effectively done is disperse federal funds to students without authorization from Congress.

Of course, I don't expect the media to point any of this out.

[Matt]

So now the President has the unilateral authority to cancel hundreds of millions of dollars of debt? Sounds unconstitutional to me. I thought Congress controlled the purse. Even this straight from USA Today a few years ago:

It's true that the Constitution gives Congress the power of the purse, meaning the president cannot spend money without Congress appropriating it.

https://www.usatoday.com/story/news/fac ... 582667002/

What Biden has effectively done is disperse federal funds to students without authorization from Congress.

Of course, I don't expect the media to point any of this out.

Not exactly - the funds were disbursed when the lights and were used. He just canceled a receivable, and while I disagree with the action and acknowledge it has to be considered a de facto unconstitutional spending authorization, that is the semantic argument he'll make. This of course coming from the same party that considers tax cuts to be spending.

To MW's point about CARES - that was authorized by Congress, so Sloppy Joe's analogy fails there.

[MWmetalhead]

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.

[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".

[bmw]

As a rhetorical question, If he has the power to cancel this debt, then doesn't he also have the power to cancel any and all debts owed to the federal government, including any and all taxes?

Me personally - I paid my way through 6 years of school by working and earning scholarships. I took out one $5500 federal loan my last year of school, and I just finished paying that off a few years ago.

[Matt]

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".

Why did you stop posting as TCSU?

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.