37 Comments
 

I miss the tweets tho

"If you don't have any enemies in life you have never stood up for anything" - Winston Churchill | "It's a testament to the sheer belligerence of the profession that people would rather argue about the 'risk-adjusted returns' of using inferior tooth cleaning methods." - kellycriterion
 

Good chance he returns -- https://www.forbes.com/sites/siladityaray/2023/06/28/trump-is-reportedl…

As of last week, he isn't exclusively bound to Truth Social and Twitter is much friendlier towards him w/ Elon at the helm. So would guess it's a matter of when, not if given you want wide distribution and to reach supporters directly (vs. the media which could choke him off like they are with RFK)

 

Personally, I'm conflicted about the decision. I think that it would have been ridiculous to absolve a large amount of people from their debts they incurred to pursue a degree that would never allow them to pay off that debt (a generality) but I actually think the decision was wrong. One of the elements that need to be satisfied would be that the plaintiffs were harmed. It was clear that those who brought the suit were not harmed and in Kagan's dissent she noted that this suit was brought simply because they disagreed with the ideology.

I also think that a majority feel the student debt / loan structure is broken and this decision doesn't help in trying to figure out how to actually address the underlying problems in student loans. I believe if they passed it through, Congress and the like would have been up in arms and thought, "well we cant let that happen again" and decide a different way to address these issues so that people can't just have their debts discharged freely

 

The system is 100% broken and the incentives are perverse to the maximum. But at the end of the day, people chose to take out a loan and should be responsible for it. My only compromise would be forcing schools that accepted said money and continually raised prices be forced to use their endowments to bail out all the useless degrees they sold if they want to continue receiving government support in the form of backed loans or funding. If they can't, better start selling off pointless assets and buckle down on teaching the folks who actually generate an ROI

"If you don't have any enemies in life you have never stood up for anything" - Winston Churchill | "It's a testament to the sheer belligerence of the profession that people would rather argue about the 'risk-adjusted returns' of using inferior tooth cleaning methods." - kellycriterion
 
But at the end of the day, people chose to take out a loan and should be responsible for it.

Totally agree but I think this is exactly the logic that Biden was trying to exploit. All the PPP loans that businesses got and were forgiven they figured they could argue is the same as the students who took on the debt. One of the Plaintiff's that actually contested the forgiving of loans was a business owner from Texas who had some crazy $$ amount of PPP loans discharged.

https://theintercept.com/2022/11/09/student-debt-relief-lawsuit-ppp-myr…

 
PrivateTechquity 🚀GME+BBBYQ💀

The system is 100% broken and the incentives are perverse to the maximum. But at the end of the day, people chose to take out a loan and should be responsible for it. My only compromise would be forcing schools that accepted said money and continually raised prices be forced to use their endowments to bail out all the useless degrees they sold if they want to continue receiving government support in the form of backed loans or funding. If they can't, better start selling off pointless assets and buckle down on teaching the folks who actually generate an ROI

If we think that 18 year olds aren't mentally competent enough to drink beer how can we say they are mentally competent enough to take out that much loan debt? Especially when our education system doesn't teach them real life skills?

 
Most Helpful

I’ve been against it because it doesn’t address the root of the problem which is schools raising tuition at ridiculous rates. If democrats are all for regulation, why haven’t they done anything about rising tuition costs? Quit making it so easy to get student loans. If they made it where government funded loans could only go up by annual inflation, schools wouldn’t be able to raise tuition the way they have. The government really shouldn’t be in the loan business and they definitely shouldn’t be funding masters degrees. If you’re going for a masters that makes sense, you’ll have no problem getting funding from a bank. 
 

 

100% it's on the schools for making the situation as big as it is by unsustainably rising prices. But it's still at the end of the day government's fault for perverting market incentives with these idiotic loans being backed by tax payers. 

"If you don't have any enemies in life you have never stood up for anything" - Winston Churchill | "It's a testament to the sheer belligerence of the profession that people would rather argue about the 'risk-adjusted returns' of using inferior tooth cleaning methods." - kellycriterion
 

azb92

If democrats are all for regulation, why haven't they done anything about rising tuition costs? 

Have you checked the political affiliation of most people working of college campuses? I think you have your answer.

 

double non-target

Personally, I'm conflicted about the decision. I think that it would have been ridiculous to absolve a large amount of people from their debts they incurred to pursue a degree that would never allow them to pay off that debt (a generality) but I actually think the decision was wrong. One of the elements that need to be satisfied would be that the plaintiffs were harmed. It was clear that those who brought the suit were not harmed and in Kagan's dissent she noted that this suit was brought simply because they disagreed with the ideology.

I also think that a majority feel the student debt / loan structure is broken and this decision doesn't help in trying to figure out how to actually address the underlying problems in student loans. I believe if they passed it through, Congress and the like would have been up in arms and thought, "well we cant let that happen again" and decide a different way to address these issues so that people can't just have their debts discharged freely

I couldn't possibly disagree more with this assessment--it's even worse than arguing for the principle of student loan forgiveness because it's a complete surrender of the entire constitutional order. Joe Biden attempted to use "standing" as a legal weapon to do an end-run around the law as no one is directly harmed by the state giving money to someone else. The plaintiffs narrowly tailored their complaints to successfully defeat the gross abuse of the principle of standing and the rule of law by the Biden administration. This is a total success for the rule of law.  

 

No offense but you're looking at this the wrong way. The decision has nothing to do with whether student loan forgiveness is good or bad. That's an entirely separate discussion. It's simply saying that the executive branch is not the correct way to legislate this.

If the Democrats want loan forgiveness, they are free to pass a bill in House and Senate just like any other spending bill which is the appropriate area to do this.

I think that this is part of the problem with people complaining about SCOTUS lately. The SCOTUS is about interpretting the constitutionality of laws, not deciding whether they are good laws or bad laws. Similarly with the affirmative action decision, you could argue that affirmative action is a good thing but should still be struck down because it does not uphold the principles of equality set in other clear legal precedents.

 

Would echo other post below who mentions it's not the issue of of do we or do we not cancel it, it's not within the executive purview -- this must be decided by legislative branch. The president cannot magically wave a wand and make any law he wants real, that's why we have separation of powers 

The other issue is that cancelling the debt would DESTROY the incentive structure beyond repair for universities. They've already been exploiting this free debt system for years with 5-6% annual price hikes, you're just incentivizing them to hurt future generations by doing even bigger hikes because they can now get away with it. That is ultimately unsustainable 

 

Dear mods, are you going to take this one down too or did SCOTUS follow our guidelines on this one?

"If you don't have any enemies in life you have never stood up for anything" - Winston Churchill | "It's a testament to the sheer belligerence of the profession that people would rather argue about the 'risk-adjusted returns' of using inferior tooth cleaning methods." - kellycriterion
 

You cant even begin the conversation of forgiving student loans without addressing the issue that caused it in the first place. Cheap and free (for a while) govt debt that directly goes to academic institutions who in turn jack up tuition costs and hire unneccessary administrative positions that serve as a safe haven for crazy idealogues that wouldnt last in the private sector without having their beliefs challenged. Instead they can fester with each other in their ivory towers and indoctrinate our youth. Every crazy story you here of some professor promoting these far left talking points are doing so at the tax payers expense. It's completely asinine.

You cap tuition increases for any insitution that uses public loan money exceeding a certain %, with strings attached on building new development and hiring practices for non-professors/teachers/TAs then we can talk student loan forgiveness. Until then, you have a person bleeding out on the ground and your solution is to grab a mop to clean the floor instead of supplies to fix the wound. 

 

What I find ridiculous about recent SCOTUS decisions is that these questions even required the SCOTUS.

1. We can't discriminate on race in the U.S. What about Asians in school admissions? Read the first line. Not sure what there was to debate here.

2. Can the president just forgive hundrends of millions of student debt.....clearly the role of Congress through a legislative process.

 
NoEquityResearch

What I find ridiculous about recent SCOTUS decisions is that these questions even required the SCOTUS.

1. We can't discriminate on race in the U.S. What about Asians in school admissions? Read  thefirst line. Not sure what there was to debate here.

2. Can the president just forgive hundrends of millions of student debt.....clearly role of Congress through a legislative process.

#3. Obviously, people have a First Amendment right (no, a moral, natural right) not to make a website for a cause he or she finds morally objectionable.  

 

clearly you have never met a liberal before

"why should we be able to defend the borders...they are just a construct, open borders for all!"

"they are not homless,  just unhoused"

"they are not illegal immigrants, but "undocument migrants"

"hi my name is rachel, she/her are are my preferred pronouns, I acknowledge I am on the land of the Sunapee Peoples Nation  ..."

 

Conservatives blocking student debt forgiveness, while not only forgiving PPP loans - but going great lengths to reduce oversight, is all you need to know.

This is crony capitalism of the worst kind. 

 

tackytech

Conservatives blocking student debt forgiveness, while not only forgiving PPP loans - but going great lengths to reduce oversight, is all you need to know.

This is crony capitalism of the worst kind. 

This is arguing apples and oranges. The government forced businesses to shut down and provided a monetary grant system that they nominally structured as a "loan." The PPP money was a grant so long as it was used for the proper purposes--keeping the companies' workers employed. If they didn't use the money properly, only then would the grant money convert to a loan structure. In practice, the grant money wasn't "loan forgiveness"--it was the recipient utilizing the grant money in a way acceptable under the law, thus the government disclaimed its ownership in the funds granted. You, the Biden admin, and the rest of the proponents of student debt transfer are taking the words "loan" and "loan forgiveness" with respect to PPP literally and are then dishonestly comparing it to the student loan regime. They have nothing to do with each other except for superficial similarities with respect to vocabulary. 

An honest comparison of student loan debt would be to mortgage debt, auto loans, or credit card debt, not to a grant program.  

 

Sure, that's a very fair and legit argument - but my problem with the PPP loans is that it seemed to be designed to:

1) Help businesses that actually needed it 

2) Fill the pockets of unethical business owners 

It was a feeding frenzy. They literally held seminars on how to maximize the situation, whether you needed it or not. 

 
GregMadeMeDoIt

tackytech

Conservatives blocking student debt forgiveness, while not only forgiving PPP loans - but going great lengths to reduce oversight, is all you need to know.

This is crony capitalism of the worst kind. 

This is arguing apples and oranges. The government forced businesses to shut down and provided a monetary grant system that they nominally structured as a "loan." The PPP money was a grant so long as it was used for the proper purposes--keeping the companies' workers employed. If they didn't use the money properly, only then would the grant money convert to a loan structure. In practice, the grant money wasn't "loan forgiveness"--it was the recipient utilizing the grant money in a way acceptable under the law, thus the government disclaimed its ownership in the funds granted. You, the Biden admin, and the rest of the proponents of student debt transfer are taking the words "loan" and "loan forgiveness" with respect to PPP literally and are then dishonestly comparing it to the student loan regime. They have nothing to do with each other except for superficial similarities with respect to vocabulary. 

An honest comparison of student loan debt would be to mortgage debt, auto loans, or credit card debt, not to a grant program.  

This is actually a good representation of the argument on the loans.  

Side note - I just think people are pissed because there's no handout.  


Also, no one forced anyone into being in debt.  Everyone had the conscious decision as an adult to get student loans.  

 

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