patrick.net

Patrick says

Trump actually put forth having an endowment tax specifically to encourage universities to use those endowments as a source for scholarships.

work as as a landscaper under the table.

problems solved.

Patrick says

i really hate how government throws money at big ed, and we all end up paying for it more and more every year.

FortwayeAsFuckJoeBiden says

i really hate how government throws money at big ed, and we all end up paying for it more and more every year.

You're not the only one.

Patrick says

FortwayeAsFuckJoeBiden says

i really hate how government throws money at big ed, and we all end up paying for it more and more every year.

You're not the only one.

https://m.youtube.com/watch?v=zT9WUIfdKIA

https://nitter.pussthecat.org/CurtisHouck/status/1562552358424711170#m

Doocy: "But someone is paying for it. Who?"

KJP: "I just--I just laid out. I just laid --"

Doocy: "Who?"

KJP: "--out for you. No, Peter, I just laid out for you how we're seeing this process and why this matters."

Doocy: "Wealthy Americans? Big corporations? Who's paying?"

Patrick says

That guy on the right is me. I started saving for my daughter's tuition from before she was born. The double insult is that the easy credit assholes bid up the cost of college which made the responsible people have to pay a lot more.

Why not give a $10,000 credit to all who went to college in the last x years? True, neither loan forgiveness nor credit is a good idea (moral hazard), but at least the credit would be fairer.

A large percentage of the student loan forgiveness went to Republican families (I am guessing a larger percent to Democrats).

A large percentage of PPP forgiveness went to Democrat families (I am guessing a larger percent to Republicans).

Instead of going through the whole PPP rigamarole, the government could have simply given the same dollar amount to everyone. They did not because the rich and better connected somehow deserved more. The $10k debt forgiveness doesn't come close to the Coin given to the politically connected.

But why forgive it at all? Allow BK and write it off. It's a fucking scam. No other industry can lock in a loan and FORCE it to be paid back. They can repo, foreclose, garnish wages, etc. Student loans are the ONLY financial product that HAS to be paid.

I went through the housing crisis in real estate as a job. Let's say you have a credit card with a high balance. Stop paying it. See what happens. Credit will get fucked, but they can't do anything. That's why CC interest rates are soooooo high.

Fact is everyone you see with a boat, a Harley or some other toy is likely defaulted on it. Or they're not paying other bills. 100%. Almost 50% of Americans don't pay taxes. If they're not doing that, how do you think they afford the toys. They can't. So they default on the debt.

We've only had 4 new houses built in my town in 10 years. 30 storage units were built. Cheaper to hide the defaulted debt than to pay it. Let's put it that way.

HeadSet says

Why not give a $10,000 credit to all who went to college in the last x years? True, neither loan forgiveness nor credit is a good idea (moral hazard), but at least the credit would be fairer.

Becuase that would make some sense and would not punish people who are responsible...DUH

In general, this just makes me want to puke. They bailed out sociology and wammins studies majors at expense of engineers and plumbers.

On top of being a flagrant abuse of power and unfair to those who did the right thing, it's probably not even effective at buying votes.

The sociology and wammins studies majors will always vote for Democrats anyway, at least until repeated boosters kill them off.

Patrick says

On top of being a flagrant abuse of power and unfair to those who did the right thing, it's probably not even effective at buying votes.

The sociology and wammins studies majors will always vote for Democrats anyway, at least until repeated boosters kill them off.

The government takeover of student loans by Obama was to create a wild card that could be used to buy votes at a critical time in the future. True, those sociology majors vote Dem when they do vote, but since this is not a Presidential year and the economy is so bad, these people may have sat out this election. This $10k loan forgiveness will motivate the borrowers to get out and vote, hoping that re-electing a Dem means more loan forgiveness in the future.

BTW, isn't Congress in control of budgets, and not the president?

Patrick says

BTW, isn't Congress in control of budgets, and not the president?

Next you will be saying that we cannot attack another country without Congress declaring war.

https://slaynews.com/economy/black-swan-author-says-colleges-not-taxpayers-should-pay-for-bidens-student-loan-wipeout/

Economist Nassim Nicholas Taleb has criticized President Joe Biden’s controversial student loan debt forgiveness plan.

Taleb, the author of the bestselling book “The Black Swan” which deals with the extreme impact of rare events, argues that colleges should foot the bill for the scheme and not U.S. taxpayers.

https://ground.news/ points out that absolute zero media on the left give a shit about who is going to pay for all those transgender studies degrees.

https://thefederalist.com/2022/08/29/bidens-student-loan-forgiveness-plan-rewards-loyal-democrats-and-punishes-everyone-else/

https://nitter.pussthecat.org/Not_the_Bee/status/1564048193847021574

Student loans is left version of ppp from the right. Both are corrupt.

Patrick says

Which is why Trump wanted to tax endowments that were sitting and not being used to aid students.

https://www.dailymail.co.uk/news/article-11264087/Biden-administration-scales-student-debt-relief-MILLIONS.html

The Biden administration quietly announced a change in its student debt forgiveness program on Thursday that could exclude up to 4 million borrowers with loans owned or backed by private companies.

The u-turn by the federal government comes after the first legal challenges were filed to the policy and following criticism of the huge costs to taxpayers. Critics also claimed the plan is an illegal use of President Joe Biden's executive power.

The Education Department announced that privately-held loans won't qualify for the relief plan, which the Congressional Budget Office said earlier this week could cost $400billion over a decade.

The scale back on Perkins and Federal Family Education Loans - which are bank loans backed by federal guarantees - is over concerns the companies could challenge the Biden administration in court, Politico reported.