Thwarted by the conservative-leaning court, Biden told reporters that his administration would pursue student loan relief through a different avenue, the Higher Education Act.
Predatory lenders? Biden’s plan largely targeted federal loans. That shit was pretty regulated and had very low interest rates. A pay day loan it was not.
I think it is down right greedy for those who will typically be the highest wage earners to get loan relief for the loans that will make them wealthy. Why not apply that to business loans as well?
It is particularly paid by those that will have lower wages so how can you say it hurts none?
It’s funny how we can print and print money for decades, we can “invest” in private industries, give them loans with favorable interest rates, billions in grants, look the other way with regards to regulations, not block anti-competitive practices, but the second we try to help actual people directly everybody loses their shit.
Want to help the economy? That $10,000 (or $20,000) for Pell grant recipients might allow someone to save $300 more a month towards a house, a car, or spend it on goods and services. After 3 years, that’s money back in the economy rather than back to bank that have gotten plenty of help in the best.
Hurt is a strong word but other people would be paying for that benefit.
It's not hard to imagine someone who decided to miss out on college and take the career penalty of lacking a 4 year degree just to avoid debt feeling like it's a bit unfair to have to help pay for other peoples degrees. People who made the decision to take on the debt.
Maybe it's would be a societal good overall but it's not like there isn't another valid side to the debate. Personally I think that money could be better targeted towards those in poverty whether they have student debt or not.
it’s a weak argument that boils down to “I’m already paying for things via my taxes but I choose to whine about this instance of the Iraq wars… plural”
Trump gave billions to already rich billionares via tax cuts that were permanent for the upper class and temp for everyone else. Don’t get me started on the billions of fraudulent PPP loans that were forgiven and no one said a peep.
But college? For the working class? “What a waste of MY MONEY…”
It means the people fighting against it are only fighting against it because they don't get anything from it and that maybe they need to stop and consider that not every piece of legislation needs to benefit them and them only.
I am fighting against it because it only supports those that will become some of the wealthiest sector in the country at the cost to a segment that will be in the lower end of wealth. It is simply greed.