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  1. Standard member vivify
    rain
    02 Dec '16 04:50
    YouTube

    http://www.marketwatch.com/story/us-poised-to-forgive-108-billion-in-student-debt-2016-11-30?mod=mw_share_facebook

    WASHINGTON—The federal government is on track to forgive at least $108 billion in student debt in coming years, according to a report that for the first time projects the full cost of plans that tie borrowers’ payments to their earnings.

    The report, to be released on Wednesday by the Government Accountability Office, shows the Obama administration’s main strategy for helping student-loan borrowers is proving far more costly than previously thought. The report also presents a scathing review of the Education Department’s accounting methods, which have understated the costs of its various debt-relief plans by tens of billions of dollars.

    Enrollment in the plans has more than tripled in the past three years to 5.3 million borrowers as of June, or 24% of all former students who borrowed directly from the government and are now required to be making payments. They collectively owe $355 billion.

    The GAO estimates that $137 billion of that figure won’t be repaid. Most of it—$108 billion—will be forgiven because of borrowers fulfilling their obligations under income-driven repayment plans. The $108 billion only covers loans made through the current school year, however. The overall sum could continue to grow alongside enrollment increase.
  2. 02 Dec '16 07:17
    Originally posted by vivify
    [youtube]EhOG205jQKM[/youtube]

    http://www.marketwatch.com/story/us-poised-to-forgive-108-billion-in-student-debt-2016-11-30?mod=mw_share_facebook

    WASHINGTON—The federal government is on track to forgive at least $108 billion in student debt in coming years, according to a report that for the first time projects the full cost of plans that tie borrowers’ ...[text shortened]... rent school year, however. The overall sum could continue to grow alongside enrollment increase.
    So I, as a taxpayer, have foot the biil. Sucks.
  3. Subscriber Suzianne
    Misfit Queen
    02 Dec '16 08:05
    Originally posted by kquinn909
    So I, as a taxpayer, have foot the biil. Sucks.
    Yeah. Because after all, it really, really sucks to actually invest in America's future.

    We can't have free college like Bernie wanted, but we can afford to forgive student-loan debt. I say we need to cut out the bankster middle-men.
  4. 02 Dec '16 10:52
    Originally posted by Suzianne
    Yeah. Because after all, it really, really sucks to actually invest in America's future.

    We can't have free college like Bernie wanted, but we can afford to forgive student-loan debt. I say we need to cut out the bankster middle-men.
    How is not collecting debt investing in the future? They have already taken the classes.

    If they can't pay their debt that means the education expense was wasted. In other words this is just proof that investing in these people was a failure.
  5. 02 Dec '16 14:43 / 1 edit
    Originally posted by kquinn909
    So I, as a taxpayer, have foot the biil. Sucks.
    Noooo!

    The Fed will pay for it.

    No worries.

    The only problem is, only the dead beats who don't pay their loans get bailed out.
  6. 02 Dec '16 15:31
    If only there was a way to make sure students don't get student debt...
  7. Standard member KellyJay
    Walk your Faith
    02 Dec '16 16:01
    Originally posted by vivify
    [youtube]EhOG205jQKM[/youtube]

    http://www.marketwatch.com/story/us-poised-to-forgive-108-billion-in-student-debt-2016-11-30?mod=mw_share_facebook

    WASHINGTON—The federal government is on track to forgive at least $108 billion in student debt in coming years, according to a report that for the first time projects the full cost of plans that tie borrowers’ ...[text shortened]... rent school year, however. The overall sum could continue to grow alongside enrollment increase.
    So since I have paid mine off instead do I get it my money back, are there lawyers looking
    out for those that tried to do it right?
  8. Standard member KellyJay
    Walk your Faith
    02 Dec '16 16:04 / 1 edit
    Originally posted by Suzianne
    Yeah. Because after all, it really, really sucks to actually invest in America's future.

    We can't have free college like Bernie wanted, but we can afford to forgive student-loan debt. I say we need to cut out the bankster middle-men.
    I paid off my student load do I get my money back? How about my home can we get the
    government to pay that off, it sucks to have to pay for a roof over my head and my
    family's and I even have two dogs. Can someone pay all my all my debt because it
    really sucks to have to pay back what I said I would!
  9. 02 Dec '16 16:54
    Originally posted by Suzianne
    Yeah. Because after all, it really, really sucks to actually invest in America's future.

    We can't have free college like Bernie wanted, but we can afford to forgive student-loan debt. I say we need to cut out the bankster middle-men.
    What makes you think America "can't have" tuition-free college?
  10. Subscriber mchill
    Infinitorum
    02 Dec '16 18:03 / 1 edit
    Originally posted by kquinn909
    So I, as a taxpayer, have foot the biil. Sucks.
    You, the taxpayer have paid far more than 108 billion to Goldman Sachs, Exxon Mobile and other Fortune 500 giants in subsidies and other corporate welfare giveaway's in the last few years. You don't seem to think that "sucks" But you'll cry about helping college kids become educated? Hmmm.....
  11. Standard member vivify
    rain
    02 Dec '16 18:21
    Originally posted by mchill
    You, the taxpayer have paid far more than 108 billion to Goldman Sachs, Exxon Mobile and other Fortune 500 giants in subsidies and other corporate welfare giveaway's in the last few years. You don't seem to think that "sucks" But you'll cry about helping college kids become educated? Hmmm.....
    I nominate this for Most Gangsta Post of the Week.
  12. 02 Dec '16 21:54 / 1 edit
    Originally posted by KellyJay
    So since I have paid mine off instead do I get it my money back, are there lawyers looking
    out for those that tried to do it right?
    You are what they call a "shmuck".

    Paying debt back is soooo yesterday.
  13. 03 Dec '16 01:08
    Originally posted by mchill
    You, the taxpayer have paid far more than 108 billion to Goldman Sachs, Exxon Mobile and other Fortune 500 giants in subsidies and other corporate welfare giveaway's in the last few years. You don't seem to think that "sucks" But you'll cry about helping college kids become educated? Hmmm.....
    Personally I am against all forms of welfare both induvidual and corporate.

    How can a government in debt afford to give tax money away? You can only spend the same dollar once. If you give it away it can't be used to repay obligations.


    You are the guy saying we need to repay our debt in one thread then in this one you say we need to give tax dollars away.

    Make up your mind or wake up and smell the coffee.
  14. Subscriber mchill
    Infinitorum
    03 Dec '16 04:52 / 3 edits
    Originally posted by Eladar
    Personally I am against all forms of welfare both induvidual and corporate.

    How can a government in debt afford to give tax money away? You can only spend the same dollar once. If you give it away it can't be used to repay obligations.


    You are the guy saying we need to repay our debt in one thread then in this one you say we need to give tax dollars away.

    Make up your mind or wake up and smell the coffee.
    You are the guy saying we need to repay our debt in one thread then in this one you say we need to give tax dollars away.

    Wrong! This has nothing to do with "giving tax dollars away" I'm the guy that's saying if the Bush and Obama administrations had not spent the last 16 years printing and spending money like drunken sailors, we would not have a national debt, and would be well equipped to lower college costs with the tax money we already have, with no additional burden on the taxpayer.

    Maybe it's you that needs to "wake up and smell the coffee"
  15. Subscriber Suzianne
    Misfit Queen
    03 Dec '16 05:41
    Originally posted by Eladar
    How is not collecting debt investing in the future? They have already taken the classes.

    If they can't pay their debt that means the education expense was wasted. In other words this is just proof that investing in these people was a failure.
    This is possibly the most stupid thing you've ever said in this forum, and with your record, that's quite an accomplishment.

    Educating America should be this country's highest priority.

    As proof, just look at who voted Trump into office.