Two conservative groups are asking a federal court to block the Biden administration’s plan to cancel $39 billion in student loans for more than 800,000 borrowers.
Without PPP loans half the country would be unemployed and the economy would be a disaster. Meanwhile, a college education increases your lifetime earnings by $1.2 million, so you’re just being greedy and asking for a bailout.
Sure, if you ignore interest, it’s easy to pay off that $37k. Too bad there’s interest and people are paying more on that than their original loan was worth. People with good jobs. How are you unaware of this?
The $37k includes interest, and even if it didn’t, your loan is heavily subsidized. Without the federal government’s guarantee, you would need to fork over collateral and your APR would be double digits. The government is already giving you a massive handout and you have the nerve to ask for more.
Good. Pay your loans, people. Money doesn’t grow on trees.
Who wants to tell him
Why should people have to pay back their student loans when corporations didn’t have to pay back their much bigger PPP loans?
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Because those loans were dischargeable when they applied for them, whereas students agreed to pay back what they borrow.
Sorry, your answer is “because they said it was okay that time and not okay the other time?”
Without PPP loans half the country would be unemployed and the economy would be a disaster. Meanwhile, a college education increases your lifetime earnings by $1.2 million, so you’re just being greedy and asking for a bailout.
How much of that $1.2 million goes to paying back loans with interest?
The average federal student loan debt is $37k. If you can’t afford 37k over the span of several years you need to reexamine your financial decisions.
Sure, if you ignore interest, it’s easy to pay off that $37k. Too bad there’s interest and people are paying more on that than their original loan was worth. People with good jobs. How are you unaware of this?
The $37k includes interest, and even if it didn’t, your loan is heavily subsidized. Without the federal government’s guarantee, you would need to fork over collateral and your APR would be double digits. The government is already giving you a massive handout and you have the nerve to ask for more.