Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
In reply to the discussion: Biden support among 18-29 year olds... [View all]Celerity
(44,496 posts)53. that subject is going to be a shitshow of a fight (George 'fuckstick' Will's already dropping bombs)
Student loan forgiveness is a Schumer-Warren gift to the well-off
https://www.washingtonpost.com/opinions/student-loan-forgiveness-is-a-schumer-warren-gift-to-the-well-off/2021/02/09/75877a64-6b08-11eb-9f80-3d7646ce1bc0_story.html
One drama of Joe Bidens infant presidency was foreshadowed 13 months ago in Iowa when a rival for the Democratic presidential nomination, Sen. Elizabeth Warren of Massachusetts, answered a question. Her a program for every problem repertoire included as much as $50,000 of forgiveness for indebted students or former students from households making less than $100,000, declining to zero for $250,000 households. An Iowan said to her:
My daughter is getting out of school. Ive saved all my money [so that] she doesnt have any student loans. Am I going to get my money back?
Warren: Of course not.
Iowan: So youre going to pay for people who didnt save any money, and those of us who did the right thing get screwed?
Of course: Activist government usually serves those who know how to activate it relatively affluent and articulate complainers. Last November, Adam Looney wrote in The Post that, About 56 percent of student debt is owed by those with masters or professional degrees, and almost 35 percent of loan balances are owed by individuals in the top 20 percent of income distribution. The five degrees responsible for most debt are: medical and law, bachelors and masters in business, and bachelor of science for nursing. The typical college graduate with debt ($28,500) can retire it in 20 years with $181 monthly payments.
Senate Majority Leader Charles E. Schumer (D-N.Y.) wants Biden to accomplish Warrens project with a flick of a pen. Schumer wants the legislative branch to be irrelevant to one of the largest transfers of wealth more than $1 trillion in U.S. history, a sum equal, according to Looney, to the total amount spent on cash welfare since 1980. Progressives say the 1965 Higher Education Law, which authorizes the education secretary (there wasnt one until 1979) to compromise federal student loans (there were none until 1958, and few in 1965), empowers an executive branch official to dispose of a gigantic sum. And federal student loan forgiveness might be followed by another pen flick forgiveness of federal loans to students parents: The New York Times reports that under the Parent PLUS program, 10 to 15 percent of parents of undergraduates take out loans that typically grow to over $64,000 by graduation day.
snip
https://www.washingtonpost.com/opinions/student-loan-forgiveness-is-a-schumer-warren-gift-to-the-well-off/2021/02/09/75877a64-6b08-11eb-9f80-3d7646ce1bc0_story.html
One drama of Joe Bidens infant presidency was foreshadowed 13 months ago in Iowa when a rival for the Democratic presidential nomination, Sen. Elizabeth Warren of Massachusetts, answered a question. Her a program for every problem repertoire included as much as $50,000 of forgiveness for indebted students or former students from households making less than $100,000, declining to zero for $250,000 households. An Iowan said to her:
My daughter is getting out of school. Ive saved all my money [so that] she doesnt have any student loans. Am I going to get my money back?
Warren: Of course not.
Iowan: So youre going to pay for people who didnt save any money, and those of us who did the right thing get screwed?
Of course: Activist government usually serves those who know how to activate it relatively affluent and articulate complainers. Last November, Adam Looney wrote in The Post that, About 56 percent of student debt is owed by those with masters or professional degrees, and almost 35 percent of loan balances are owed by individuals in the top 20 percent of income distribution. The five degrees responsible for most debt are: medical and law, bachelors and masters in business, and bachelor of science for nursing. The typical college graduate with debt ($28,500) can retire it in 20 years with $181 monthly payments.
Senate Majority Leader Charles E. Schumer (D-N.Y.) wants Biden to accomplish Warrens project with a flick of a pen. Schumer wants the legislative branch to be irrelevant to one of the largest transfers of wealth more than $1 trillion in U.S. history, a sum equal, according to Looney, to the total amount spent on cash welfare since 1980. Progressives say the 1965 Higher Education Law, which authorizes the education secretary (there wasnt one until 1979) to compromise federal student loans (there were none until 1958, and few in 1965), empowers an executive branch official to dispose of a gigantic sum. And federal student loan forgiveness might be followed by another pen flick forgiveness of federal loans to students parents: The New York Times reports that under the Parent PLUS program, 10 to 15 percent of parents of undergraduates take out loans that typically grow to over $64,000 by graduation day.
snip
Edit history
Please sign in to view edit histories.
63 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
![](du4img/smicon-reply-new.gif)
Yes they are! Sad to say I thought they were in my day as well, but then look what happened
KPN
Feb 2021
#22
If they want ANY kind of gun control they have to be supportive of the Democratic Party
MagickMuffin
Feb 2021
#6
They thought Biden was an old-time moderate-- out of touch with young Americans...
idziak4ever1234
Feb 2021
#9
Mine are anti repub but as long as they vote Democratic I am ok with that
questionseverything
Feb 2021
#51
that subject is going to be a shitshow of a fight (George 'fuckstick' Will's already dropping bombs)
Celerity
Feb 2021
#53
Or just get bitter about keeping their lips just above water while Wall Street and politicians
KPN
Feb 2021
#34
I don't know. I think they have learned that elections have consequences. They've been the
KPN
Feb 2021
#28
The Other 30% Have Stockholm Syndrome And Are Held Captive By Fundie Jerk Wads
DanieRains
Feb 2021
#31
And it will stay that way as long as Biden is able to deliver on his promises w/o obstruction
Fiendish Thingy
Feb 2021
#39