The wealthy liberal elites high up in the ivory towers of these universities have the full power of the administrative state a.k.a. the once democratic government to market, propagandize, and ultimately insulate them from having any skin in the education game. How else can you sell $200k degrees in gender studies and make the local plummer foot the bill for it.
Imagine having to demonstrate to the bank you'll be able to pay back your loan the way the plummer was required to do.
ajax, I don’t think that a $200K loan can be paid off by the program, at least not as currently deployed. Per the DoE:
”The Department of Education will provide up to $20,000 in debt cancellation to Pell Grant recipients with loans held by they Department of Education, and up to $10,000 in debt cancellation to non-Pell Grant recipients. Borrowers are eligible for this relief if their individual income is less than $125,000 ($250,000 for married couples).”
Curiously, the cost of loan forgiveness from the PPP program - about 90% of $800 billion issued - seems to be shaping up to a much greater cost. If you’re going to worry about plumbers paying off other folks’s debt, the PPP might be a more suitable target for your anger.
The inflation numbers are going to fall off a cliff starting in Sept when people start paying student loans again.
That's an interesting observation and prediction -- worth checking up on when the September consumer spending numbers are in.
I suspect trips, entertainment, and cars will be the first things to fall off. Taylor Swift tickets might finally come back to earth when 20 million 20-30somethings don't have hundreds of dollars of monthly disposable income anymore.
That's an interesting observation and prediction -- worth checking up on when the September consumer spending numbers are in.
I suspect trips, entertainment, and cars will be the first things to fall off. Taylor Swift tickets might finally come back to earth when 20 million 20-30somethings don't have hundreds of dollars of monthly disposable income anymore.
Gun to the head, I'd bet that you're right. But I've been surprised about the pandemic emergency economy and the post emergency economy a few times. I was very surprised at the extent to which people saved pandemic relief funds rather than spending them. Which also caused me to be surprised at the relatively abrupt release of pent-up demand. So it all depends on the behavior of folks with student loans, and I don't have a good handle on that.
he/him When I go to sea, don’t fear for me. Fear for the storm.
Jessica Best, Fear for the Storm. From The Strange Case of the Starship Iris.
The wealthy liberal elites high up in the ivory towers of these universities have the full power of the administrative state a.k.a. the once democratic government to market, propagandize, and ultimately insulate them from having any skin in the education game. How else can you sell $200k degrees in gender studies and make the local plummer foot the bill for it.
Imagine having to demonstrate to the bank you'll be able to pay back your loan the way the plummer was required to do.
ajax, I don’t think that a $200K loan can be paid off by the program, at least not as currently deployed. Per the DoE:
”The Department of Education will provide up to $20,000 in debt cancellation to Pell Grant recipients with loans held by they Department of Education, and up to $10,000 in debt cancellation to non-Pell Grant recipients. Borrowers are eligible for this relief if their individual income is less than $125,000 ($250,000 for married couples).”
Curiously, the cost of loan forgiveness from the PPP program - about 90% of $800 billion issued - seems to be shaping up to a much greater cost. If you’re going to worry about plumbers paying off other folks’s debt, the PPP might be a more suitable target for your anger.
If you pare that comment down to 26 words, bolding half of them, Xanax might drag his dull eyes over them as he scrolls. Good post, though.
- Doc
Hugh Nibley claimed he bumped into Adolf Hitler, Albert Einstein, Winston Churchill, Gertrude Stein, and the Grand Duke Vladimir Romanoff. Dishonesty is baked into Mormonism.
Gun to the head, I'd bet that you're right. But I've been surprised about the pandemic emergency economy and the post emergency economy a few times. I was very surprised at the extent to which people saved pandemic relief funds rather than spending them. Which also caused me to be surprised at the relatively abrupt release of pent-up demand. So it all depends on the behavior of folks with student loans, and I don't have a good handle on that.
The funny thing is that a ton of people are going to ask for exemptions or some type of deal but I don't think the lenders are going to be sympathetic at this point. At some point you just have to pay your debts. After 3 1/2 years people finally are going to come back to reality on student loans. The 10k/20k forgiveness was a nice thought (I'd have liked it for my wife) but these people thinking their loans were going to be forgiven are living on a different planet.
The wealthy liberal elites high up in the ivory towers of these universities have the full power of the administrative state a.k.a. the once democratic government to market, propagandize, and ultimately insulate them from having any skin in the education game. How else can you sell $200k degrees in gender studies and make the local plummer foot the bill for it.
Imagine having to demonstrate to the bank you'll be able to pay back your loan the way the plummer was required to do.
ajax, I don’t think that a $200K loan can be paid off by the program, at least not as currently deployed. Per the DoE:
”The Department of Education will provide up to $20,000 in debt cancellation to Pell Grant recipients with loans held by they Department of Education, and up to $10,000 in debt cancellation to non-Pell Grant recipients. Borrowers are eligible for this relief if their individual income is less than $125,000 ($250,000 for married couples).”
Curiously, the cost of loan forgiveness from the PPP program - about 90% of $800 billion issued - seems to be shaping up to a much greater cost. If you’re going to worry about plumbers paying off other folks’s debt, the PPP might be a more suitable target for your anger.
PPP program? Wasn't that passed in response to the scamdemic lockdowns that crippled the economy and racked a cool $20 trillion in debt for future generations to assume responsibilty for?
And when the Confederates saw Jackson standing fearless like a stonewall, the army of Northern Virginia took courage and drove the federal army off their land.
]PPP program? Wasn't that passed in response to the scamdemic lockdowns that crippled the economy and racked a cool $20 trillion in debt for future generations to assume responsibilty for?
Senators Shaheen, Collins, Cardin, and Rubio authored the Paycheck Protection Program. It was a $953-billion business loan program established during the Trump administration in 2020. Sorry, buddy, the the GOP is going to own this one.
God, you MAGAs are hypocrites with short memories.
- Doc
Hugh Nibley claimed he bumped into Adolf Hitler, Albert Einstein, Winston Churchill, Gertrude Stein, and the Grand Duke Vladimir Romanoff. Dishonesty is baked into Mormonism.
]PPP program? Wasn't that passed in response to the scamdemic lockdowns that crippled the economy and racked a cool $20 trillion in debt for future generations to assume responsibilty for?
Senators Shaheen, Collins, Cardin, and Rubio authored the Paycheck Protection Program. It was a $953-billion business loan program established during the Trump administration in 2020. Sorry, buddy, the the GOP is going to own this one.
God, you MAGAs are hypocrites with short memories.
- Doc
BS. You know how we each stood on this issue at the time. The PPP loans were abused and lasted way longer than necessary. We were back working under Death Santis's direction for years before you lazy cowards ever went back to work. This was an orchestrated and deliberate destruction of the US economy with a democratic socialist stimulus Trojan horse that used the China virus as an excuse.
And when the Confederates saw Jackson standing fearless like a stonewall, the army of Northern Virginia took courage and drove the federal army off their land.
