College debt~

[Obi-Wan]

Huh? Me no follow?

[FONT=&quot]March 30, 2010 - President Obama will sign a bill today that ends a 45-year-old program under which banks and other private-sector lenders such as Sallie Mae receive a federal subsidy for making government-guaranteed college loans.[/FONT]

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[FONT=&quot]Instead, the U.S. Department of Education - which already makes roughly a third of these loans through its direct-lending program - will make 100 percent of them starting July 1.
https://www.sfgate.com/business/net...r-student-loan-program-from-banks-3193888.php

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[ORCUS DEMENS]

Schmaltz, I could not agree more. I have always been an advocate that before going to college for a degree, young people should work in the field they want to pursue a degree in. I had a hard time with "Briefcase Experts". Nice suits, slick presentations, and not a clue what they were talking about. I waited, looked at a couple choices for a degree and went as a non-traditional student. I worked, paid my bills and taxes, paid off my loans early. I really dislike having debt but it is sometimes a necessary evil. Is this program a vote grab, sure, just like subsidies for large corporations are a fundraising grab for politicians. Until the supreme court overturns Citizens United, and other dark money political programs, politicians will continue to put their interests ahead of the good of the country.

 

[tikkalover]

And for those who have private loans, such as through the Bank of North Dakota, this loan forgiveness plan will not be helping you.

“Loans held through the bank of North Dakota are issued and guaranteed by the state. And so, the loans held by the Bank of North Dakota are not eligible for the loan forgiveness,” said Kelvin Hullet, the chief business development officer at the Bank of North Dakota.

Hullet says in order for state-funded loans to be forgiven, it would have to be up to the state.

“For private loans, such as those held by the Bank of North Dakota to be forgiven, would require legislation to be passed by the North Dakota legislature,” said Hullet.

However, this extra cash in your pocket will come with a catch in some places.

13 states have already come forward to say borrowers may be hit with up to $1,100 in taxes on forgiven student loans.

These states will count this “canceled debt” as income for students.

North Dakota is not one of these states, but Minnesota is.

 

[NG3067]

I don’t fault anyone for taking advantage of the student loan forgiveness, my blame lies solely on the political system for allowing it. The Dems claim is that if you received PPP or farm programs, you can’t bitch. Likewise I don’t fault anyone for taking advantage of those programs. Any two people on this site could have come up with a better PPP program over a six pack of beer. FFS, people were making more money staying at home than working, and the real energetic ones put in 18hrs a week and made considerably more. Our entire system is broke and in need of a major overhaul.

 

[lunkerslayer]

 

[lunkerslayer]

https://www.google.com/amp/s/news.y...s-enslavement-working-mom-owes-175012016.html
240000 dollar degree to be an elementary teacher

 

[Lycanthrope]

Dont erase any debt, even if life was unfair and gave you a hand...

 

[Lycanthrope]

This is a good talk explaining this issue:
https://youtu.be/G17H1PlChbc