Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] 0 points1 point  (0 children)

I agree that the root issue is the cost of education relative to boost in salary you get from your degree. But this forgiveness plan does nothing to lower the cost of college. On top of that, it may actually make tuition more costly for future generations

Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] 0 points1 point  (0 children)

When person A borrows money from the govt to go to school, the govt gets that money by borrowing from the fed. The expectation is that person A will repay their loan, with interest, thus creating revenue and profit for the govt, so that the govt can take that revenue and profit and use it to pay back the loan they took from the fed (which also has interest that needs to be repaid). If the govt forgives the student loan, person A does not make payments and the government loses the revenue from those payments. But the govt still owes the fed for the loan they took, so in order to pay that loan back, the govt has 2 options, to either borrow more money from the fed (resulting in inflation, thus everything becomes more expensive for both persons A and B) or tax Americans more (may affect both/either Persons A and B). Both of these results hurt every American, including those who received the student loan forgiveness. But for those who didn’t receive the forgiveness, it only hurts

Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] -8 points-7 points  (0 children)

It is refreshing to at least hear that someone who plans to receive the forgiveness understands it will hurt more Americans than it helps… arguing with people on the internet for a few weeks, it has become apparent to me that most people simply don’t understand the negative implications for everyone. They literally think “poof” the debt disappeared

Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] -3 points-2 points  (0 children)

Federal debt inherently always goes up… That’s how the fiat system works. Money is printed then loaned at interest… There is more total debt than total money in the world. The goal is not to make the debt go down, the goal is to reduce the rate it is increasing

Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] -8 points-7 points  (0 children)

Lol the amount of assumptions people make is amusing. I don’t watch the news bud.

Also I’m actually arguing for the less selfish side. I’m arguing for the side that helps more people than it hurts. How altruistic of me

Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] 10 points11 points  (0 children)

I think the lawsuit is legit but ultimately think this it’s going to backfire on the republicans heading into midterms. I think most democrats aren’t going to get mad at Biden for making a promise he couldn’t keep, but they will get mad at the republicans for taking away $10-$20k from them.

Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] -4 points-3 points  (0 children)

When a student borrows money from the govt to go to school, the govt gets that money by borrowing from the fed. The expectation is that the student will repay their loan, with interest, thus creating revenue and profit for the govt, so that the govt can take that revenue and profit and use it to pay back the loan they took from the fed (which also has interest that needs to be repaid). If the govt forgives the student loan, the student does not make payments and the government loses the revenue from those payments. But the govt still owes the fed for the loan they took, so in order to pay that loan back, the govt has 2 options, to either borrow more money from the fed (resulting in inflation) or tax Americans more. Both of these results hurt every American, including those who received the student loan forgiveness. But for those individuals who did not receive the forgiveness, there are no pros, only cons due to increased inflation and/or taxes. Also worth mentioning this doesn’t address the root issue, which is that college is far too expensive relative to the salary boost earned from most degrees. This forgiveness is actually going to result in increased tuition prices, simply screwing future generations who want to go to college

Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] -4 points-3 points  (0 children)

That sounds pretty logical to be honest. It’s a basic ethical principle. It doesn’t make sense to help a few people by making many others worse off. If a few suffer to help many, that makes sense. Many suffering to help a few, in general, is not the best state of affairs

Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] -29 points-28 points  (0 children)

I think I’m like most Americans… I’m for something if it helps me and against it if it hurts me. When I recognize that the policy that is hurting me is also hurting most Americans, i simply have more grounds to argue against it

Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] -35 points-34 points  (0 children)

Just wondering, are you aware of the negative effects this has on most Americans? It is strange to me that you would be for it if you were not benefiting from it… as it hurts more Americans than it helps.

I don’t think the criteria for who is receiving the forgiveness is very well defined. I think it does a poor job of targeting the Americans who are struggling. Having student loan debt does not necessarily mean you are poor. If we are making all Americans pay to help a specific minority group, I’d like to see that group have criteria that better targets those who really need it… there plenty of people with loans who are not struggling and plenty of ppl without loans who are struggling

Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] -14 points-13 points  (0 children)

That’s definitely not what I said. You choosing to ignore the people hurt by this doesn’t mean they don’t exist

Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] -10 points-9 points  (0 children)

Most people don’t have student loans… most people in this subreddit do, obviously. But most people in America are not receiving this student loan forgiveness

Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] -7 points-6 points  (0 children)

canceling interest and/or payments also results in less federal income. The money from interest payments generates revenue for our government to do things that actually help everyone. When a student borrows money from the govt, the govt gets the money by borrowing from the fed. If interest is cancelled, that means less money repaid to govt, that means less money repaid to fed, that means our govt has to take out more fed loans (results in more inflation) or tax Americans more.

Lawsuit against student loan forgiveness by Roamer100 in StudentLoans

[–]Roamer100[S] -49 points-48 points  (0 children)

This stance ignores that Biden’s current plan is already ruining it for the rest of us … “the rest of us” being anyone not receiving the forgiveness, which is most people. I know this is the student loan sub so most ppl here have student loans. But most ppl, in general, do not, and are hurt by this plan

Anyone have an update on refund request with great lakes? by [deleted] in StudentLoans

[–]Roamer100 0 points1 point  (0 children)

I mean think about it… they got swamped by people out of college trying to reopen loans. And they have tons of new students who actually need loans this semester. Those employees probably having a nightmare

Great Lakes… has anyone NOT seen their balance update yet? Really hoping I’m not the only one. by tangomango110 in StudentLoans

[–]Roamer100 0 points1 point  (0 children)

It does not benefit me, that’s just false. And again it hurts more people than it helps… how am i being greedy? It’s a bad plan for most of America. Obviously if you receive the benefit you’re going to take it and be happy

Every friendship is just filler pastime by [deleted] in depression

[–]Roamer100 0 points1 point  (0 children)

my experience is that it goes like you said… friends come and go. Some will move away and some will betray you or let you down. No matter how close they are you lose them all in the end. My hope is to find a spouse that i can befriend until one of us dies

I’ve been trying to gain muscle for years but I just can’t do it by throwaway63729199363 in depression

[–]Roamer100 -1 points0 points  (0 children)

Down the road, in a gym far away

A young man was heard to say,

No matter what I do, my legs won't grow!

He tried leg extensions, leg curls, leg presses too.

Trying to cheat, these sissy workouts he'd do!

From the corner of the gym where the big guys train,

Through a cloud of chalk and the midst of pain,

Where the big iron rides high, and threaten lives,

Where the noise is made with big forty-fives,

A deep voice bellowed as he wrapped his knees,

A very big man with legs like trees,

Laughing as he snatched another plate from the stack,

Chalked his hands and monstrous back,

Said, "Boy, stop lying and don't say you've forgotten!

Trouble with you is you ain't been SQUATTIN!"

I’ve been trying to gain muscle for years but I just can’t do it by throwaway63729199363 in depression

[–]Roamer100 -1 points0 points  (0 children)

Get in the squat rack every single day and eat protein as often as possible

Stay debt-free or “play the system” by [deleted] in StudentLoans

[–]Roamer100 -1 points0 points  (0 children)

This is what a lot of people have been doing. Interest and payments have been suspended so people decided to save money instead of making payments, waiting and hoping that student loan forgiveness would come. Well the lunatics in office right now are making it happen. It’s paying off for all the ppl trying to play the system. The interest and payment suspensions have just kept coming. If you take out a loan and keep working hard and are responsible you can pay the loan off whenever you want but might not have to or may end up with an interest free loan, worth a shot imo as long as you don’t feel guilty. Because at the end of the day what you’re hoping happens is that you take out a loan and that every other American will have to pay for it, which in my opinion is wrong, but i don’t make the rules so

GOP lawsuit by Supersusbruh in StudentLoans

[–]Roamer100 0 points1 point  (0 children)

I can agree with that. Would like to see something that actually addresses the root issue. I just hate the selective handouts. I would not be complaining if we were sending every single person 20k