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mackdaddy

(1,690 posts)
20. The Dems should amend to make them 0% interest loans, retroactively.
Sat Jan 11, 2025, 07:45 AM
Jan 11

A huge part of this is the interest rates mean that most students will pay back many times what they borrowed, and that unlike Trump they can not even get rid of the debt if they go bankrupt. These loans are the modern version of Indentured Servitude. If a teenage student borrows 10 thousand dollars for school, then with interest they could easily have to pay back 30 or 40 thousand. I taught at a two year college for a few years. It was unbelievably easy for the 18 year olds to sign up for a loan of tens of thousands in the 'financial assistance' office.

My great nephew is going to OU Athens, a State College, In-State tuition and will have about 130 thousand in school loans for a four year degree. That is more than my first home mortgages.

Many of the loans Biden's program addressed, the students had already paid MORE than the principle they borrowed, but had just barely made a dent in the interest that was accruing.

I think if the program were at least only paying back what you borrowed (the principle), the 'you owe it you pay it' in MAGA propaganda would be blunted and still give massive relief to student loan borrowers.

Recommendations

2 members have recommended this reply (displayed in chronological order):

I hate them with the heat of a thousand suns. choie Jan 10 #1
Post removed Post removed Jan 10 #3
and who was going to pay for choie Jan 10 #5
They should at least keep the more reasonable repayment plans choie Jan 10 #6
Not going to be popular to take back what was given Marthe48 Jan 10 #2
I think popularity only mattered when they needed to get votes. defacto7 Jan 10 #9
unfortunately markie Jan 11 #18
You mean like how they took away abortion rights? jvill Jan 11 #21
Yes, like that Marthe48 Jan 11 #27
Fuck them I'll defer it until I die FirstLight Jan 10 #4
Please let me know how you do that! choie Jan 10 #7
Defer is easy when you are disabled and don't make enough FirstLight Jan 10 #12
best of luck to you markie Jan 11 #17
Good for you. The GOP doesn't care about your edge case. But good for solitary you. jvill Jan 11 #22
NOW do the same for your fucking PPP loans. Nt CousinIT Jan 10 #8
I paid off all my student loans in full back in 1993. defacto7 Jan 10 #10
Have you tried a lawyer? jvill Jan 11 #23
needs another rep to propose an amendment. mwooldri Jan 10 #11
Unitary executive for me but not for thee being the GOP rule of the day Prairie Gates Jan 10 #13
Republicans are the party of _ _ _ _ _ _ . Alienkawala Jan 11 #14
The finance and tech bros didn't go to college? jvill Jan 11 #24
Grothman POS nwliberalkiwi Jan 11 #15
f#*k them markie Jan 11 #16
Well, isn't that so 'America First"? Making sure fewer citizens can obtain sinkingfeeling Jan 11 #19
Maintaining an underclass to abuse and take advantage of is actually VERY American... jvill Jan 11 #25
The Dems should amend to make them 0% interest loans, retroactively. mackdaddy Jan 11 #20
Also collect Trump's Covid 'loans'. keithbvadu2 Jan 11 #26
Latest Discussions»Latest Breaking News»GOP Pushes Bill to Stop S...»Reply #20