Home Forums Hunting & Shooting Hunter's Campfire What Impact Will President Biden's Student Loan Forgiveness Have on Your Investments

Sorry, but WE didn't allow this to happen..................as with most stupid schitt that goes on, the government & the lending institutions let it happen all on their own.

I had no say in the matter, but if I had, it would not have happened.

Forgiving these loans will accomplish next to nothing; the students who actually got a degree in something worthwhile have mostly gotten jobs & paid back all or most of their loans.

The one who got no degree or a completely useless one, have no jobs, won't have a job & most likely will never have a job.

The lending institutions should bear the brunt of non-payment, not the tax-paying citizen who ultimately will with Biden's .gov plan to cover the lenders.

MM

Glad I worked my add and put two kids thru school on my dime so the pos can forgive

The thing is even worthwhile degrees are way overinflated in cost and the government keeps on pushing for bigger degrees when it isn’t necessary. No doubt there are dumb misguided kids without knowledgeable parents that go into worthless “gender studies” type degrees but given the rate of return should the government be backing those degrees to misguided 18 year olds and driving up cost? The government might just as well offer backed loans for European sports cars to 18 year olds as “gender studies” degrees.

At the end of the day the government raises the educational requirements and then requires all but the elite to take out government default free loans to go to government owned schools to pay for it and then requires you to pay them back a mortgage worths of debt.

The end result is people in there early 20’s with a mountain of debt even with a good degree PO’d and upset with the American dream. A good job goes along ways towards a culture that buys into America and it’s ideals. Being a debt slave to the US government for well over a $100k has the opposite effect.

“Education” in this country has gotten stupid expensive.

How many clueless boomers sent their kids off for higher education? only to have them go into stupid debt or waste the parents money to be indoctrinated into Marxism..... a bunch.... fools

It's typical liberal BS, let's party on someone else's dime. I busted my azz to put two kids through college so they'd be debt free when they graduated. I'm not sure what's going to happen going forward but those of us who pay taxes will get screwed.

So does this mean college will be free in the future? Where does this end? What happens when a kid goes and applies to go to college next year, do they get student loan forgiveness also? Doesn't make sense.

I don't know about investments but Biden should get an honorary PhD for this. He's teaching a college level class to many thousands of young people that their word means nothing and that they can screw the taxpayers at will.

Its bull chit. Everyone else paid for there loans

Have private lending institutions lend the money with no government guarantee and insist the schools co-sign the loan. Solved


But then there would be too many kids not showing up at four years of marx camp. And the colleges would not have endless money to blow and their faculty would have to be trimmed down to those disciplines with a future.

Oh yeah, for the OP, this program will have the same effect as all other leftist free stuff programs. Think Cloward Piven.

I look at it like this. The answer isn’t government “forgiveness” but K-12 has been cheap for a 100 years. Going back to when a HS diploma meant something because most farm kids were pulled out of school by 8th grade to work the family farm. Fast forward a 100 years and there is no reason for the equivalent of a HS education (a Bachelor’s Degree) should cost what it does. It’s a racket to make debt slaves.

It will be a tragedy to forgive this debt. The real tragedy was to allow loans to go to liberal colleges to pay for our kids to be indoctrinated. That's when college tuition started going up. Liberals just keep making more and more money to indoctrinate the kids without really teaching them anything, useful, that they can make a living with. Educational loans should be ended all together. The price of college would come down. Most don't need the money anyway because of all the money they have on hand.

Yes its a tragedy to forgive thus debt. I agree. Its also a tragedy that trillions were recently given away to "help" give relief to powerful corperation and its a tragedy that the 2.3 Trillion report missing at the pentegon from the very mouth of Donald Rumsfeld one day before 9/11 wasnt investigated and followed up on. Just a whole bunch of tragedy going on.

I dont believe in forgiving that debt but I even more opposed to the corperate welfare, the crony capitalism, and black slush funds of the pentegon. Student debt is a mere drop in the bucket compared to that. Worse is yet to come with the new health care issues we'll face. We'll be getting used to losing.

This is the entire solution. Cap the loans at $30k for a 4 year degree, or whatever number works. With limited cash available, tuition will have to go down to get people to go to anything but state schools. Kids need to come up with a plan to figure out their education. It will help them be more successful if they have their skin in the game and a plan to follow. The debt forgiveness is as bad as giving the huge loans in the first place.

You understand the big picture. Well said!

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At the end of the day the government raises the educational requirements and then requires all but the elite to take out government default free loans to go to government owned schools to pay for it and then requires you to pay them back a mortgage worths of debt.

The end result is people in there early 20’s with a mountain of debt even with a good degree PO’d and upset with the American dream. A good job goes along ways towards a culture that buys into America and it’s ideals. Being a debt slave to the US government for well over a $100k has the opposite effect.
[/quote]

That is a huge misconception... even a cop out. With a little planning, people can go get a college degree with limited debt. Kids can work and save money through high school, attend state schools with low tuition and work during college to keep the loans down. My daughter is paying her own way with a few scholarships and lots of saving. Nobody has to be elite to go to school without debt. What one does need is a plan, a little time to save and common sense in choice of college. Working in college makes a big difference. Believe it or not, people with this type of plan and work ethic are more likely to succeed in school and in life.

What I’m going to laugh at is all of those that think they are going to have college loans paid off that transferred them to something outside of the Fed. Government ones, like Discover, etc.. I don’t see how those can be forgiven as they are no longer government backed student loan debt. My wife racked up student loan debt, but she is paying it back. Currently there is 0 percent interest on student loans, that feds own. I think everyone that took them out needs to pay them back. I also think the price of a college degree is too darn high as well.

That is a huge misconception... even a cop out. With a little planning, people can go get a college degree with limited debt. Kids can work and save money through high school, attend state schools with low tuition and work during college to keep the loans down. My daughter is paying her own way with a few scholarships and lots of saving. Nobody has to be elite to go to school without debt. What one does need is a plan, a little time to save and common sense in choice of college. Working in college makes a big difference. Believe it or not, people with this type of plan and work ethic are more likely to succeed in school and in life.

A tragedy for sure. Personal finance common sense isn’t very common and debt is king. Per usual, the democrat solution worsens the problem. As a culture we should be teaching financial literacy to our kids and we don’t.

Bailing these kids out won’t help them learn anything except that debt is okay. Financial train wreck moving toward.

Plus.... since I paid every dollar of mine it just really pisses me off.

But there is all kinds of schemes where this occurs right now. My cousins is nearing 10 years of payments on 250k in loans. She’s a grade school teacher, overpaid, spreading communist propaganda to kids, we foot the bill. Disgusting.

I’d worry more about the impact of warrantless firearms seizures then the impact of student loan debt. One will have a very perceptible impact and one won’t be noticed...