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

Well, I've been thinking about this a lot lately, especially as my lifelong responsible savings will be impacted. What affect do you think President Biden's student loan forgiveness will have on your IRA or mutual fund or savings and investments in general? My intent isn't that this be a "Biden sucks" thread. To me, that is a given. I want people's input on the affects you think it will have and what, if any, steps are you are taking to protect your retirement savings?

Be mindful that the student loan forgiveness won't just be waiving a magic wand and the debt will be gone. That would make the Great Depression look like an economic boom. It will be we taxpayers paying back those lending institutions, universities and the government.

We’re living in a bubble anyway. I don’t think it’s going to do squat.

Not having seen or heard any news today,did he sign an EO about it?
I know Schumer was hawking 50k in debt forgivness.
But I don't know if Joe caved.

It will make your hard earned dollars worth less because all those deadbeats will have a bunch of extra cash to go out and compete with your hard earned money for goods(smaller amounts thanks to shutdowns). More money plus fewer goods equals higher prices.

Perhaps some of the deadbeats will invest in the market so perhaps they will head even higher?

Im laughing at all the losers that owe 50K and can't even get a job .

Hope they let me use all that $$ out of the 2 kids 529 plan if it’s going to be free now.
All this country does is reward poor decisions and punish hard work and smart choices. I’m tired of the BS.

yep

Not yet from what I’ve heard but I believe that the left will keep part of their promise to alleviate some of that debt.

It'll make all those busboys with Liberal Arts degrees think they made a good educational choice.

The value of the dollar will shrink, again and the economy will shrink so we won't know which of Biden"s decisions led to the the latest recession.

A liberal solution to a liberal caused problem. How college students can't see the racket that liberal politicians and liberal college administrators are running on them, at their very expense, baffles my mind. It really wasn't that long ago that in state tuition was very reasonable.

Unfortunately those loans were predatory from the get go as is the education system. Lots of kids got loans and were going to school just enough to live on the loans. Bad idea. Stupid.

The idea to laugh ar these young f0lks not having a usable degree or any experiance isnt something to take glee in either. Its a tragedy and we allowed this to happen.

I dont know what this may do to retirement funds but it probably wont be positive for most folks.

At best this education system is an criminal enterprise as is the loaning of college costs and the insane rising costs. Its not funny because young people were duped into the game as is normalnfolks saving for retirement and the social structure at large. Its a sad tale, but continuing down the same path will only make it worse.

One of my biggest complainst Trump ( i voted for him twice) is that he blew the opportunity to captivate these young people and engage with them a workable solution to this crisis. His arrogance didnt allow him to visit schools and students and put their voices and concerns before congress and also the interests of jilders of this debt. He had an opporrunity to reach out to young folks and put this mess in a spotlight instead of spend time in Mar a Lago. He had the opportunity to do something for a whole block of young voters but did nothing. This burns me, and now we have a demented lackluster idiot in the house calling the shots yet he cant point to the door that leads out of the room.

Are you kidding me. How da f u c k could he win in a rigged election? Do you think Berkeley or some other liberal chit hole university would let him speak. Trump used social media to reach the younger generation no one has before.

If the argument is that 18 year olds aren't sophisticated enough to realize what student debt means, and 18 year olds aren't mature enough to buy a handgun, then why are they still allowed to vote? Once upon a time it was because they were being drafted, which was a good argument, but that's been gone for years.

To answer the original question: It will increase the already bloated federal debt. That's not a good thing.

There's only one solution to this problem and that's to quit handing out so many damn student loans.

This is a danged good post.

I doubt this will be covered with taxes. If they do it, it will be an exercise in 1.6 trillion more of monetary easing.

After another 2 trillion in "Covid relief", mostly to pay off blue state and blue city debt, this additional 1.6 trillion will push the total debt to 32 Trillion by year end.

I'd be fine if they either allowed them to default on their student loans or limit the interest rate to a quarter percent over the rate of inflation but to completely forgive them is theft from everyone who wasn't an idiot.

I graduated in 2015 with a bachelors of science Metallurgical engineering degree. I had 50k in student loans when I graduated and I had multiple job offers when I graduated because I went to one of the top schools for that degree. I knew the degree I was getting and how I would be able to pay it back. I had 10 years to pay it and I did it in 5. I think student loans are just handed out to anyone and everyone and it should really be based on the degree you are working towards. If you are getting an art history degree you can only borrow up to a certain amount. If you are getting an engineering degree where the average starting salary for your program is 72,000$ then you might be allowed to borrow more. Also I saw a lot of students that finished their bachelors and started right in on a masters and PHD. When they graduated they only might make 90,000. Is an extra 50k in student debt a smart move to only make 18k higher starting salary if that? They really need to look at it as a business proposal when they give out student loans.

I agree with much of this. Kids are told that if they don’t go to college they’ll never be anything. The government now requires most trades to have an associate degree. RN’s use to only need an associates degree but the government is pushing for bachelor degrees. School teachers use to need a bachelors but now the government has made a big push for Masters Degrees. The government artificially raises the requirements beyond what is needed from a practical standpoint and then offers loans for hundreds of thousands of dollars to kids. The same mostly GOVERNMENT OWNED university’s couldn’t charge what they do if they didn’t have a ready supply of kids feeling like they need the degrees to make a living and the government backing the loans. The government has a hell of a racket going on. Artificially raise requirements for jobs, then back the loans with no chance of default or filing bankruptcy on, and send the kids off with thousand in loans that they could never otherwise qualify for to government schools... To then repay a mortgage worth’s or more in debt to the government in addition to income taxes.

In today’s society college age students should be able to take nearly everything online for dirt cheap. How is it that a middle schooler requiring small classes and more hands on supervision can be educated for a few thousand a year but a college student that should be self sufficient and can learn at home or in a lecture hall with several hundred students cost several times more in cost?

yup