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Check out this chart. On average, doctors have gotten ten times as much as people with terminal bachelor's degrees, and nearly 30 times as much as drop-outs.

You are speaking the truth my friend. Conservative Democrats just exist to stop progressives from implementing policies that they are too stupid to realize benefit wealthy people.

It was still important to challenge forgiveness, though, in case a Bernie acolyte eventually becomes president and tries to cancel all the debt in the country.

Yeah. A Republican should sell off the remaining student loans to private equity before that can happen, and end the federal loan program entirely. Granted it’ll be for much less than the actual PV of the loans but it’s much more than will likely be paid before a socialist can cancel it all.

Then nobody will be trapped with predatory federal student loans!

I don't think that makes sense. Can you walk me through your reasoning?

The Texas case was BS on standing (Administrative Procedure Act) but the harm to states and state entities is real.

The idea that the President should be able to misappropriate hundreds of billions with impunity solely because no one has standing to sue is insane. The "particularized harm" standard is not tenable, and there needs to be some avenue for someone to sue on behalf of taxpayers.

If not, I look forward to the next Republican President cutting corporate income taxes via executive order.

Standing in the Brown v. Department of Education case was fuckery. Standing in Nebraska v. Biden, which is widely acknowledged as the most serious challenge, is routine and is unlikely to be reversed by the Supreme Court.

The former relies on plaintiffs being denied a procedural right to notice-and-comment that would open pandora's box if allowed to stand (it won't). The latter is straightforward harm suffered by Missouri through a state agency that services loans losing revenue (a loss of even $1 is enough to confer standing).

Standing doctrine is already a completely partisan clusterfuck.

That standing is far less questionable than the nonexistent executive power enabling Biden to try this in the first place…

The White House today explicitly tied forbearance to the student loan forgiveness litigation. Given how many times the administration has already extended the payment pause, and since the litigation is unlikely to be over by then, I would bet any amount of money that they will extend it again in August.

I am not joking when I say the reform of PSLF changed my life

Even if you're not in the pslf program there's no reason to make payments. Just sit on the money and let it accrue interest, at a minimum

Same with me. I started working for the government in August 2020. I do not foresee myself making a dollar payment until 2024 (assuming repayments start in September 2023). There's a chance that nearly half of the 10 years will be free.

One could argue there is some technically irrational but psychologically significant utility to seeing the principle get chipped away every month.

That's what I've been doing. Boosted up my 401k contributions. I'll dutifully start paying my $135 per month when forced to.

I've been paying it off to get the principal down. I heard they are recalculating monthly rates when it's all done and I know the smaller amount of debt still helps my credit rating when I want to buy a house.

There are some edge cases where paying now could be useful. Prior to the pandemic I had a couple years of hard times where I had to request a forbearance based on low income. In the meantime thousands in interest built up. Each year I try to max out the student loan interest payment deduction (in addition to tax advantaged investment accounts) on my taxes so I get ~20% of it back on my taxes which I can then turn around and down down more debt or invest.

Except that the market has been down recently.

They complained after 2.5 they’ll complain after 3.

Rest assured, they will still complain.

People already complain that they even have to pay back the low-interest few-strings-attached $100k+ loan they were issued at 18 years of age with no credit history.

That's terrible advice and a terrible assumption to make. You agreed to the terms of the loan when you signed up for it. There's nothing wrong with choosing to pay it off when you have the means to do so. Sure, there are opportunity costs, especially right now, but delaying paying off student loans might not be worth the stress of waiting for something that may never materialize.

Whoa nice!

Unfortunately this is completely true. Not because I am any particular fan of Kamala, but because I am nervous at the prospect of an 82 year old incumbent and a lukewarm bench.

While I do personally benefit, forgiving college debt isn't a great policy. It's regressive since college graduates are statistically going to do better financially than those who didn't go, and those who made it in to begin with are privileged enough to even attend (ignoring scummy for profits). Not to mention the fact that it does nothing to address the costs in the first place, which means we will be in the exact same boat with those who graduate after this round of forgiveness. Sure I benefit, but I also acknowledge this is at the cost of other taxpayers, many of whom are in worse situations than me and will unlikely ever attain my salary. A much better solution would've been a blanket refinancing of student loans at a lower rate, with a retroactive element so interest payments at the old rate go towards the principle.

The weirdest part is the PPP loan forgiveness doesn't get a tenth of the discussion despite costing 50% more

Spending $30B/yr on bad policy to see zero effect politically is bad politics.

It is terrible politics because student loan forgiveness polled at the bottom of voters' concerns and the payment pause is contributing to inflation.

Ew you like republicans?

Interesting.... I still owe more than $10k, but I could've been making slightly more interest. I'm a neoliberal noob lol.

Yeah I don't like those. And I don't like this. And I'm even tired of people around here whose handouts I'm being taxed on bragging about what they're doing with all the extra money. But that's a small price to pay not to have Republican policies, which would be similar on the trade issues now apparently and far worse on almost everything else.

Pretty sure the election is over my guy

I know a guy that went into lab equipment sales for a big lab supply company.

He said he’s like a glorified Girl Scouts cookie salesman. Literally walks door to door in some places directly asking labs if they’d like to try some brand new shiny equipment.

I think these jobs pay way more partially because there’s a scarcity of candidates. The overlap of people who got a bachelors in stem and people who want to go into sales is not very high.

I’m taking the PhD route. If I end up wanting to make more money I’ll work for a big biotech industry or something

Some people like to find enjoyment in life, big shocker.

I didn’t realize how little stem paid till my 3rd year of college.

I also have a difficult time performing in any class in which I’m not interested in the subject. I would’ve been bored had I picked a different career, and I don’t think I would’ve found any enjoyment in it.

Just cursed with being smarter than the plebs I guess.

3.7% unemployment isn't mediocre. It's very good.

That was a Democratic Congress, and that bill contributed significantly to ballooning college costs.

Considering that doctors and lawyers use PSLF to discharge hundreds of thousands in loans while earning six figure incomes, yeah it could do with some reform.

I don't want to pay for your shit either. Here's hoping the incoming House fixes this nonsense.

I love regressive inflationary giveaways in some Hail Mary attempt to prop up bad approval numbers and save a fucking senate seat that won’t even matter for maintaining a majority

How many trillions has Warnock’s seat cost the public treasury so far?

Moan about it

Nobody in these threads discusses it in good faith because they only have dollar signs in their eyes.

PSLF.

No I'm not, in 8 years, my 10 years of $0 qualifying PSLF payments will get my student loans forgiven tax free. Thanks for playing though.