So this completely shuts the door for potential federal student loan forgiveness, right? Man, I was actually still holding out hope. I didn't understand what I was agreeing to at 18. Loan forgiveness would've had such a significant positive impact on my life (+ those of my family and friends). I'm not sure why I thought something like this ever could've passed :')
this post was submitted on 30 Jun 2023
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I was 16 when I took mine out. My dad was also a dipshit qanon conspiracy theorist who thought the government would have collapsed by now so he coerced me into taking out max loans. Funnily enough, 20k worth, the exact amount that would have been wiped
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Tim Scott
The South Carolina senator praised the ruling as "a victory for common sense."
"You take out a loan, you pay it back. This decision frees taxpayers from shouldering debt they never signed up for," he tweeted.
Weird, I didn't get a decision to shoulder the bad debt these companies that got their PPP loans forgiven.
Or the 2008 Financial bailout on my future.
Or the 200 billion in medicare/covid fraud
These people are incapable of not being disingenuous. They're allergic to good faith. The hypocrisy has become so ingrained in these people that calling it out hasn't been an effective counter to them for years, if not decades. They simply do not care.
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Student debt cannot be simply expunged through bankruptcy, it requires extra steps.
After the 2008 sub-prime mortage crisis, Hedgefunds and Banks didn't stop with their predatory behaviour, they simply shifted it around. Student loans were a prime target for that. As well as commercial mortage backed securities (CMBS) rather than the mortage backed securities (MBS) from that bubble popping in 2008.
With COVID making work from home inevitable and CMBS becoming a huge risk factor as well as student loans possibly being forgiven, the financial elites have been rotating to survive another day until they can resume squeezing your pennies out of you again so they don't have to go under.
Just a piece of the shit pie that the US financial markets are. It's just a huge rackateering ring. I'd be immensely surprised if student loans were ever forgiven or university costs socialized again in the future. It's just too lucrative to fuck young people.
Capitalism has robbed us of more than we could ever even imagine. To the point where most people don't even realize they've been robbed. It's tragic.
We live in a society where amoral, faceless corporations are more valued than actual human life. And those corporations have so much power over people, and their cognition, that the majority have been tricked into consenting to this perverted system against all of their interests. And I would love for someone to explain to me why there should ever be a distinction between the people producing something, and the people/corporations that own the means of that production. Why should these be two different groups, and why in the FUCK would the class that doesn't do any actual goddamn work, make 300x more money? It's fucking disgusting.
But on the other hand, they said they were going to lower taxes. And also, trans people exist, so........
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Loan forgiveness would have been a terrible policy. You guys are behaving like boomers. Broken systems and advocating for handouts instead of fixes.
We're also advocating for fixes. Like free public college.
This was a bandaid because the executive can't simply do that without a law. Some aid is better than no aid especially to young people already in enormous debt.
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My biggest complaint in this (as a student loan borrower) is that they postponed this shit for years, and I didn't make any payments during that time so I wouldn't have to jump through hoops to get reimbursement if this forgiveness plan was actually implemented, so now instead of having interest-free payments going during this time, I'm going to have to start where I was in the beginning.
This could just be my own stupidity, but making a promise that would completely negate the need to make payments made me hold off on making payments.
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