Will Biden cancel student loan debt?- Page 2

[Sutton Ross]

Posted: 6/1/21 at 10:38pm

ArtMan said: "Any individual, at 18, that receives a student loan and doesn't understand that it is NOT FREE MONEY to spend on whatever, has bigger issues going on. If by the age of 18 they haven't learned this,there is nothing a school and/or parents can teach them. They lack the maturity and responsibility it takes to succeed in college. I would suggest an alternate route for them."

WORD

[TheatreFan4]

Posted: 6/1/21 at 11:02pm

Sutton Ross said: "Lolz. I don't care to read your fu*king novel but I will say that no one on this thread agrees with you so far and everyone here believe in personal responsibility, working hard, and paying off loans.

You've lost the argument. The end."

Okay, so you don't care about financial literacy and just enjoying dunking on people less fortunate. You don't care that your claim about it being taught in schools is vastly inaccurate. Got it.

So, you still owe $10K in loans? Have you repaid any of the total loan? You do understand, I hope, that you received that money from every single American citizen who pays Federal Income Tax. It was loaned to you in good faith. Honor your commitment. Don't play the victim here.

I've paid my loans every single month for years, so kindly go **** yourself. As a tax paying person, I have also been paying into other's student loans. I'm just not deluded enough to sit here and act like the entire system isn't broken from the point of college expenses, lack of financial literacy programs, and lack of wage growth against inflation. I'm able to actually use empathy to relate to people who are not in my circumstances. But really I wouldn't expect a board of prissy theatre snobs to be anything but very classist so here we are. When I was here back when I was in high school years ago I was able to grow out of that theatre queen turned up nose at people, but it's comforting to see that men I talked to in their 30s and 40s way back when have still been unable to. It's all very very cute. Maybe one day you'll get the stick out your ass and acknowledge people's experience who are not your own.

And do you have any idea what the hell INTEREST is? The interest that banks are making off of this money that on your education that causes many people to take 30+ years to actually pay down their balance because the interest ends up costing as much if not more than the initial amount? Don't act like it's a ****ing charity and nobody is making out.

Updated On: 6/1/21 at 11:02 PM

[Highland Guy]

Posted: 6/1/21 at 11:19pm

TheatreFan4 said: "go **** yourself"

 

 

[Sutton Ross]

Posted: 6/1/21 at 11:48pm

[JGPR2]

Posted: 6/3/21 at 9:30am

"And do you have any idea what the hell INTEREST is? The interest that banks are making off of this money that on your education that causes many people to take 30+ years to actually pay down their balance because the interest ends up costing as much if not more than the initial amount? Don't act like it's a ****ing charity and nobody is making out."

Newsflash *** In exchange for loaning people thousands of dollars and taking years to get paid back, banks want to make some money for their investment. Really, you have a problem with them making some money. Interest rates are incredibly low now in comparison to many years ago. Banks give you the option on how many years you have to pay it back based on your decision what is best for you financially. As somebody who a few years ago paid off mortgage loan a bunch of years early,  the interest we paid over the years was not even close to the actually amount we borrowed.

Updated On: 6/3/21 at 09:30 AM

[RippedMan]

Posted: 6/5/21 at 5:17pm

Maybe instead of cancelling all the debt, they could cancel the interest rate? Or provide interest-free loans for all education purposes. I think that's a better solution than just absolving people of debt. Because that money has to come from somewhere. And if you get rid of student debt now, will future generations get that? What about past people who maybe doing some job they didn't want to do because they had to pay off their debts, etc? It's kind of a never ending saga. 

[TheatreFan4]

Posted: 6/5/21 at 5:29pm

RippedMan said: "Maybe instead of cancelling all the debt, they could cancel the interest rate? Or provide interest-free loans for all education purposes. I think that's a better solution than just absolving people of debt. Because that money has to come from somewhere. And if you get rid of student debt now, will future generations get that? What about past people who maybe doing some job they didn't want to do because they had to pay off their debts, etc? It's kind of a never ending saga."

See this is actually sensible because it acknowledges there's a problem that needs to be fixed. That's what I'm not really getting from anyone else here... Student loan debt is an issue. The price of even public college is an issue. Stagnant wages are an issue and all of them need to be addressed.

We're all for reforming the health insurance industry because of the mountains of debt assumed by people (and thus those people never getting care until their condition worsens so much that that they're in a hospital stay that is costing hundreds of thousands of dollars) being out of proportion with the rest of the world. Our college expenses reflect that as well! The US has a lot problems and turning your blind eye to it doesn't help. It just makes you look like a classist asshole with a turned down eye on people.

 

Even if you don't support elimination of student debt (which also would help the economy because its effects peoples credit & that money would be actually getting spent somewhere else as opposed to giving back to a bank in an endless loop), you have to acknowledge SOMETHING has to be done.

[Broadway Joe]

Posted: 6/6/21 at 2:44pm

To me debt isn't the real issue and just canceling it all isn't realistic.

What's more realistic though is that tuitions should be lowered across the board. Colleges would still be making a killing even with reasonable tuitions. Big time college sports should be putting that money back into making tuitions reasonable, not supporting other sports that aren't popular.

[SouthernCakes]

Posted: 6/7/21 at 12:45am

I’d agree with that as I’m from the South and Auburn University just built a $90m football training facility. So clearly they’re fine.

State run schools should be free or very cheap.

[JGPR2]

Posted: 6/7/21 at 4:35pm

"Big time college sports should be putting that money back into making tuitions reasonable, not supporting other sports that aren't popular."

You do that and you have just basically destroyed women's sports in college.

[RippedMan]

Posted: 6/8/21 at 12:32am

Just to play devil's advocate, but by supporting non-successful sports, what's the point? So the women's sports aren't as popular? Okay. Who is gaining anything from it then? The teams are playing to half-sold stadiums, the news isn't covering them, who is gaining from it? the schools are making no money... the players I guess are profiting? 

[JGPR2]

Posted: 6/8/21 at 8:01am

"Just to play devil's advocate, but by supporting non-successful sports, what's the point? So the women's sports aren't as popular? Okay. Who is gaining anything from it then? The teams are playing to half-sold stadiums, the news isn't covering them, who is gaining from it? the schools are making no money... the players I guess are profiting?"

People gaining from it are the women participating in the sport. Just because they don't make millions of dollars for the college does not mean it is not worthwhile. There are lots of benefits to playing sports, physical activity, friendships, develop sportsmanship and other things. These sports also provide jobs at the college to coaches, trainers etc. 

[Islander_fan]

Posted: 6/8/21 at 12:32pm

JGPR2 said: ""Just to play devil's advocate, but by supporting non-successful sports, what's the point? So the women's sports aren't as popular? Okay. Who is gaining anything from it then? The teams are playing to half-sold stadiums, the news isn't covering them, who is gaining from it? the schools are making no money... the players I guess are profiting?"

People gaining from it are the women participating in the sport. Just because they don't make millions of dollars for the college does not mean it is not worthwhile. There are lots of benefits to playing sports, physical activity, friendships, developsportsmanship and other things. These sports alsoprovide jobs at the college to coaches, trainers etc."

 

I fully agree with all this. Though, the one issue I have is that of how the the players are treated. If you’re looking at a school with, say, a major football program and one that has a stadium with the seating capacity of, say, an NFL stadium there are issues. The students do all of the work, yet, basically get nothing in return. The games for major football schools are shown weekly on ESPN. Yet, only the school can profit. Now, some may say that yes, these kids are at a school that, in addition to football has great academics as well. Problem is, those classes that the football team is assigned to are shoddy at best, and will do nothing to help them going forward if they don’t make it pro. And, due to the amount of money that the school profits off these kids, if they decide to just not go to class, they get a pass. 

Furthermore, these kids are not allowed to accept any gifts or endorsement deals either. Hell, a few yers ago, there was a story about how a football player was unable to afford a meal plan. School couldn’t give him one becuse that would be considered a gift. It’s been compared to, and I think it is accurate that this is slave labor. The kids do all the work, and the school gets 100 per cent of the profit made from these kids. 

 

[JGPR2]

Posted: 6/13/21 at 7:54pm

"Now, some may say that yes, these kids are at a school that, in addition to football has great academics as well. Problem is, those classes that the football team is assigned to are shoddy at best, and will do nothing to help them going forward if they don’t make it pro. And, due to the amount of money that the school profits off these kids, if they decide to just not go to class, they get a pass."

You are in control of what classes you take in college and if you are an athlete and don't take advantage of what schools like Notre Dame or Stanford can do for you academically that is your fault. If you really don't know the very low percentage of athletes that make it professionally than once again shame on you.

"Furthermore, these kids are not allowed to accept any gifts or endorsement deals either. Hell, a few yers ago, there was a story about how a football player was unable to afford a meal plan. School couldn’t give him one becuse that would be considered a gift. It’s been compared to, and I think it is accurate that this is slave labor. The kids do all the work, and the school gets 100 per cent of the profit made from these kids."

Have you looked up what it costs to go to major college these days?  I just did a quick search and it cost $78,347 a year to go to Notre Dame which includes tuition, room, meals, books and supplies and even transportation. Most of these young people get full scholarship and it is not just the star players. Food plans are now included as part of a scholarship for athletes. A friend of mine had a son who was "the long snapper" at Mississippi State several years ago and he got full scholarship for 4 years.  If he played more that 7 or 8 plays a game it was a lot. 

P.S. Islanders took Game 1 against Tampa Bay, very impressive. BTW - Loved hearing the Islander crowd in Game 6 against Bruins singing the National Anthem.



 

Updated On: 6/13/21 at 07:54 PM

[TheatreFan4]

Posted: 6/13/21 at 8:27pm

You are in control of what classes you take in college and if you are an athlete and don't take advantage of what schools like Notre Dame or Stanford can do for you academically that is your fault.

They didn't get a full ride to Notre Dame or Stanford on a sports scholarship because they had the grades to get into them, it was so the school could make money off of them.

Have you looked up what it costs to go to major college these days? I just did a quick search and it cost $78,347 a year to go to Notre Dame which includes tuition, room, meals, books and supplies and even transportation. Most of these young people get full scholarship and it is not just the star players. Food plans are now included as part of a scholarship for athletes. A friend of mine had a son who was "the long snapper" at Mississippi State several years ago and he got full scholarship for 4 years. If he played more that 7 or 8 plays a game it was a lot.

Uh huh...it also brings in $14B in revenue annually... 

And then after those 4 years 95% of them are left with nothing. A degree in a major they didn't actually study for because that's what the college allows to keep them playing.

And it's kind of sad that you needed to point out that meal plans are now included after reports of them starving players for years.

There is no reason why they should not be able to be making money off of their own names. College sports are a scam of free labor. 

[JGPR2]

Posted: 6/13/21 at 11:44pm

"They didn't get a full ride to Notre Dame or Stanford on a sports scholarship because they had the grades to get into them, it was so the school could make money off of them."

Yes, the school makes money off them and big time sports like football/basketball basically pay the entire athletic budget of a school. Like I said in another post, there would basically be no women's sports if it was not for the money big time colleges make from football/basketball. Even with sports scholarship the people who get into Notre Dame/Stanford have the grades needed to attend these colleges. I hope you are equally upset that big time colleges also pay their coaches millions of dollars a year. 

"And then after those 4 years 95% of them are left with nothing. A degree in a major they didn't actually study for because that's what the college allows to keep them playing."

Once again, if they choose to not get a decent education and not take a major that can help them in the future, that is their problem. Nobody is forcing them to take some "lame" major and be the stereotypical "dumb jock". You don't have to be a freaking genius to know the odds on you becoming a professional athlete are pretty slim.  In addition, even if you make the NFL for example the average player does not even last 5 years. 

"And it's kind of sad that you needed to point out that meal plans are now included after reports of them starving players for years."

I think it is kind of sad that even with everything else being paid for somebody can't afford a meal plan.  I would have loved it if all I had to pay for for my children to attend college was a meal plan. 

"There is no reason why they should not be able to be making money off of their own names. College sports are a scam of free labor."

That issue is being addressed and I agree that athlete should be able to make money off college selling jersey's with their name on them. 

[Islander_fan]

Posted: 6/14/21 at 9:44am

A few years back, John Oliver discussed this issue on Last Week Tonight. There was an article about it in Rolling Stone which also has the video of the segment. I highly suggest to get a better understanding of things you take a look at it.

Granted, there is only one major thing of note that has changed between now and when the episode aired a couple of years back. That is, the Northwestern University football team tried to fight back against the Bull**** system they’re in by unionizing. A move, which, sad to say, was not successful at all.

I highly suggest you watch the clip because it’s very informative and frankly, I knew that things weren’t great before I watched that episode, and, my takeaway was surprised at how bad it really was.

https://www.google.com/amp/s/www.rollingstone.com/culture/culture-news/watch-john-oliver-blast-ncaa-for-not-paying-student-athletes-201976/amp/

[JGPR2]

Posted: 6/15/21 at 8:27am

"Granted, there is only one major thing of note that has changed between now and when the episode aired a couple of years back. That is, the Northwestern University football team tried to fight back against the Bull**** system they’re in by unionizing. A move, which, sad to say, was not successful at all.

I highly suggest you watch the clip because it’s very informative and frankly, I knew that things weren’t great before I watched that episode, and, my takeaway was surprised at how bad it really was.

https://www.google.com/amp/s/www.rollingstone.com/culture/culture-news/watch-john-oliver-blast-ncaa-for-not-paying-student-athletes-201976/amp/"

First, I can't read the entire article because you have to sign up to be subscriber of Rolling Stone. I will point out in most sports you don't need to play in college to become a professional.  Baseball drafts kids from HS and you can play in other leagues besides college. Young people can play professional basketball in Europe and then the NBA  without going to college. Hockey like baseball drafts kids from HS and they also have leagues to play in and you can bypass college. Let me also add that in sports like basketball, the players who can make it into the NBA stay in college for 1 year (One and Done) before signing million dollar contract. You can become professional tennis or golf player without college. Football is the only one that you really need to go to college for a year or two to get drafted.

If you just want to play college sports and not interested in becoming a professional than it is your choice if you think scholarship is enough payment for your participation. Just curious, how much you and others think college athletes should be paid and if they are paid do they need to give up scholarship?  Finally, while people on this thread are upset that the athletes are not paid there seems to be no outrage with college coaches making millions of dollars a year which is quite a bit more than the average college professor - lol. For example, Coach K of Duke makes almost 9 million dollars a year and Nick Saban makes 9.3 million a year.  Think of how many meal plans they could pay for athletes if they made half of that each year -lol

 

Updated On: 6/15/21 at 08:27 AM

[Islander_fan]

Posted: 6/15/21 at 11:47am

That’s odd about the Rolling Stone article, I was able to access it and I am not a subscriber. Regardless here’s the link to the video I mentioned earlier and highly suggest that you watch it. 

https://youtu.be/pX8BXH3SJn0

Within the NBA, there is discussion as to whether or not they should do away with the one and done rule. The idea initially was to allow those who were stars in high school to be able to skip college altogether and enter the NBA draft. As time went on, they altered it. Now, rule states that in order to enter the draft, you have to be at least 19 and be one year removed high school. Yes, the common course of action for those players is to spend one year in college then enter the NBA draft. The problem is, the NCAA is not a fan fo this. If someone like Lebron James went to college (which he did not) then the school would see what a talent he is and what the future would hold for him and be able to bring in more revenue for the college. 

 

 I honestly think that, asking if they get paid is the scholarship even needed is putting the cart before the horse. It’s like, if you get a a job, they aren’t going to start paying you until you start work. Similar concept here. 

And you’re right, there are a lot of schools with an elite basketball or football program that, in and of themselves are great schools for an academic standpoint. However, with the playing and practice schedule they have (both basketball and football) they are unable to take advantage of the top tier academia classes that are being offered Many professors at big sports schools are under intense pressure to fudge an athletes grades. So that, the school can show the NCAA that a student has close to a 4.0 GPA or whatever the GPA is to be eligible to play. If you watch the video, you will see that there was a major issue at UNC. They were only offering the athletes two classes, both of which will get you nowhere should you be unable to go pro for whatever reason. African Studies and swahili. Even if they didn’t show they still got a passing grade just so that these students could play, and the athlete department could make more money. 

[JGPR2]

Posted: 6/16/21 at 4:41pm

Islander-fan - I was able to view youtube clip and nothing was a real surprise. John Oliver made his points with intelligence and humor. Just curious, if athletes don't have time to take real classes how did somebody like FSU football player Myron Rolle get "Rhodes Scholarship" years ago. I am sorry but I have a hard time thinking Grant Hill of Duke for example took "paper classes".  Those "paper classes" are probably for the one and done NBA people or NFL prospects biding their time before they get drafted. 

I totally agree if a college players image or name is used to sell a product (video, jersey etc) they do deserve to get compensated for this and I believe it is being looked into by the NCAA.

If you want to turn college sports into a semi-professional league than you probably will end college sports.  How much do they get paid? Does the star QB get more than the starting left tackle? Will college players have agents? Do college athletes sign a 1 yr contract or 4 year contract? Will there be bonus clauses? Seriously, do you think colleges want to get involved with something like this for every sport at the college? Be careful, what you wish for because you may not like the end result.

[SmoothLover]

Posted: 7/15/21 at 6:51am

They are talking about free community college for 2 years.

[Sutton Ross]

Posted: 7/15/21 at 10:58am

Which is acceptable. Canceling student loan debt is not. 

[TheatreFan4]

Posted: 7/15/21 at 9:26pm

Sutton Ross said: "Which is acceptable. Canceling student loan debt is not."

It's basically the same thing and is a response to the complaint of "WELL WHAT ABOUT THOSE IN THE FUTURE!? WHAT ABOUT THEIR DEBT!?" 

Canceling a portion of others student is no less acceptable, you're just of the "I got mine" mindset. 

[Sutton Ross]

Posted: 7/15/21 at 9:44pm

Lolz. You don't know a goddamm thing about me. I paid off my loans, was responsible and worked hard to do so. Just because someone was born after me doesn't mean they just don't get to pay anything. The entitlement of Gen Z is appalling.

Love,
A proud, financially responsible millennial.

Ps: Only assholes use all caps to ask questions. Kisses.

Updated On: 7/15/21 at 09:44 PM

[JGPR2]

Posted: 7/15/21 at 9:59pm

"Lolz. You don't know a goddamm thing about me. I paid off my loans, was responsible and worked hard to do so. Just because someone was born after me doesn't mean they just don't pay to pay anything. The entitled of Gen Z is appalling.

Love,
A proud, financially responsible millennial."

In other words and I mean this in a very nice way, you are a grown up and don't expect other people to pay your debts. Congrats on paying off your loans.  I bet it was nice feeling having extra money for other things when you made your last loan payment !!