Elizabeth Warren Attempting to immediately eliminate student loan debt for 45 million Americans.

a blinkin

a blinkin

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Looks like the senator isn’t waiting for 2020 to roll this out.
  • Sen. Elizabeth Warren introduced a bill Tuesday that would forgive the student debt of tens of millions of Americans.
  • Under the legislation, all 45 million Americans with student debt would see at least a portion of their balance greatly reduced. Three-quarters of borrowers would have all their loans scrubbed.
  • Warren first proposed her plan in April, but the legislation – dubbed the Student Loan Debt Relief Act – offers new details on how the Massachusetts senator would dismantle the country's outstanding student debt tab, soon expected to exceed $2 trillion.
 
dcallamerican said:
Like all these other pipe dreams, I will believe it when I see it.

Also who/what will determine the % of the debt gdtting forgiveness?

I mean IT SOUNDS good.
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Seems like the income to debt ratio based on what I read.

If you make under $100K annually, you’d get $50K worth of loan debt forgiven. Upward of $100K gets you $25K forgiven. Over $250K, nothing’s forgiven.

But agreed. I’ll believe it when I see it. Legislation gets shot down every day, b.
 
If she runs on this she has my vote....

This is essentially a highly effective stimulus. I also like and agree that there should be tiers of relief. I just don’t need the same assistance as someone making 50k.

This will enable literally millions to purchase homes, and other goods they don’t need. There will be some inflation, but that’s ok.
 
Shes setting up her platform nicely for a general election run. First thing she can point to is trying to help the middle class and stimulate the economy, while the GOP shot it down and refused to help. If she does get it passed (lol) she can say she helped more Americans with one act than Trump has ever helped anybody.
 
youngogjosh said:
Nail meet head:

Critics say the plan is costly and fails to address the root of the problem with today's higher education system. "This proposal does nothing to decrease the cost of college and does not help future students," said Richard Hunt, president and CEO of the Consumer Bankers Association.
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all the money they spend on dumb ****
im fine for them doing something good
 
Just paid mine off a few months ago. Can I get a partial refund?

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Fact of the matter is that an increasing amount of the American public are seeking higher education because the industries that offer “good jobs” require having a degree. Then with all these graduates and a reduced number of jobs, individuals are seeking further education to stand a better chance in the job market. More education typically equals more debt, and this reduces an individual’s ability to spend on other things (homes, cars, unnecessary ****, etc).

I see the logic for having a new measure to wipe out the debt in one fell swoop, but I do agree this this doesn’t prevent the same problem from rearing its ugly head in the future if there aren’t measures to make college more affordable.
 
a blinkin said:
Fact of the matter is that an increasing amount of the American public are seeking higher education because the industries that offer “good jobs” require having a degree. Then with all these graduates and a reduced number of jobs, individuals are seeking further education to stand a better chance in the job market. More education typically equals more debt, and this reduces individual’s ability to spend on other things (homes, cars, unnecessary ****, etc).

I see the logic for having a new measure to wipe out the debt in one fell swoop, but I do agree this this doesn’t prevent the same problem from rearing its ugly head in the future if there aren’t measures to make college more affordable.
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A good start would be removing mandatory general studies to some extent. I had to take some variations of art, music, phys ed, etc in college. Had to take "American Pop Music." Everyone was completely withdrawn and uninterested. I felt bad for the professor because it was a complete waste of everyone's time (and money).

Would be ideal if more schools had accelerated programs as options for folks who didn't want to take those "filler" courses.

I used maybe 1-5% of what I learned in higher ED in any corresponding job I've had.
 
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