Biden's Student Loan Forgiveness Bribe is a deal with the Devil. I didn't vote to pay for someone else's poor decisions; they voted to force me to pay for their mistakes. Socialism is forced servitude
I would like to see the rates adjusted retroactively and then going forward — to a non-usurious level — and the borrowers credited accordingly for moneys already paid.
The resulting balance will be a fair way for them to honor their commitments and many will find their newly adjusted debt is already paid off.
The remaning debts will be honestly owed, and in due course: freedom. Otherwise, years of debt slavery — due to both government schemes and colleges’ commensurate exploitation (with their greatly inflated tuition and housing costs, and student [& parent] wooing employees & offices. ) — to which this royal scam would bind the unwise student and or their parents.
I know of such a student. His loans (beginning in 2011) were limited, his interest 2-4x the going rate at the time. His single parent got sucked in too, but with Parent Plus loans, at an even more usurious interest rate (6.7-8.5% at the time): double that of his student loans. — With just high enough an income and just non-minority enough to be the perfect patsies.
The trick was and is: no allowable student loan can possibly cover more than a minor portion of the money needed to attend an out-of-town state U or regular private college (unless he qualifies for scholarships or special status) So the unwise parent will supplement with a second loan of her own — or else, well… the routine of college following HS, then a great job for her only precious son is out (such a myth was marketed to prospective students and parents alike as much as ever the covid vaccine was)— and I’m not talking prestigious schools here; all but a few in the entire country played the game. And only a small fraction of students were brilliant enough to merit a free ride.
Well, this young man has dutifully taken on his single fool of a mom’s obligation, feeling that it is all his burden of debt. But I think she fell into a trap many parents fell into: she failed to read her Parent Plus Loan’s fine print. It said that interest accrues from the time of loan receipt and not after graduation, as it was in her day. So, her 7.5% avg interest neatly compounded her loans by the time her son graduated.
A hard worker, he had difficulty finding a job upon graduation. Seasonal wild land firefighting for the state and interim coaching jobs helped pay the minimum to avoid penalties, while he lived at home. Now, he’s a full-time firefighter and trainer with the forest service, paid a decent salary and constantly continuing his knowledge — and still ever paying what he can (after a covid respite). It’s still uphill, the high interest loans are still roaring apace. With nearly every penny going to the govt contracted loan collector, he’ll never catch up.
In my view, the whole setup is and was wrong, and perhaps both criminally usurious and slyly conceived. Most of the student borrowers were far too immature and the parents too inattentive and foolish.
The government should be examined for their egregious actions and it must be set to right.
But NO to to blanket amnesty. It not only penalizes all taxpayers — but it doubly wrongs and penalizes those who either wisely eschewed the entire loan route, took out a more modest debt and have worked & scrimped to pay it off, and parents who were positioned so to have paid back their PPL debts quickly.
So, there is more to the story than just dumb kids who took stupid classes (which have no place anyway) and who chose majors that never had any usefulness or potential. It’s likely that far less than 40% of them actually belonged in the sham vestiges of places of higher learning in the first place. Those students— and we — certainly don’t benefit, since so many of the jobs they do get are blights on the country
There is much more to tell. But the whole thing has been a great, bloated bill of goods, hard sold and stupidly bought.
Thank you for a detailed explanation and picture of what a real student's life looks like. This is what people (like me a year ago) need to hear about this issue.
I would like to see a push to allow for student loans to be discharged in bankruptcy. Not because I believe that is a better solution, but to expose the student loan scam for what it really is. Big Government and Big Education in bed together.
I will be lambasted for this, but I am tired of hearing about basket weaving classes and blue hair.
Single struggling mothers sometimes went to school whilst working FT, when including internships, practicums and residencies, adding up to literally 80 hour weeks. I used to think anyone claiming that had to be lying.
Student loans are a usurious trap. it is slavery. You get far enough into the programs that you can't leave - then they change the curriculum to be "credentialed" IN THIS OR THAT. You have no choice. You miss out on family gatherings, compromise your health, but it is for the promise of good living *which it is at the time you begin.*
But by the time you finish, you are held on short tether to COMPLY with AMA/APA licensing body's new demands - support political agendas (this is NEW - not 20 years ago!), encourage your patients to vax (!!!!!), help with mental stress of CLIMATE CHANGE (seriously), encourage early intervention in gender "affirmation." Which of course you cannot ethically do. So you keep your head low and help those you genuinely can.
But the loans keep raising interest (when you are halfway through you have no variable/fixed CHOICE and they know it) - now @ 12% and rising. What was manageable now is ~$1600/mo. For a profession which has vanished. Not, though, the expenses (liability insurance, continuing "education," records requirements - 6 file cabinets worth, ethical responsibility for patients, emergencies, etc).
So the "unfairness" is on both sides folks. I have paid ~ $200K and owe more than I took out.
NO - not foolishness, but trust in what WAS a viable, responsible and altruistic profession.
But you signed the papers. What about a home mortgage? If you are still a single mother and have trouble paying the mortgage what happens? You lose the house. Maybe we should make everyone that takes the money work a volunteer service job for a few years to "pay" the rest of us off?
I went to college and grad school and paid out of pocket while working full time and having just adopted kids. What do I get???
That was built into Obamacare. Labor for the govt in exchange for some bit off your student loans. It’s on page 5,687,982 or something. I saved it back in around 2012 on a long-dead ipad. *Sigh*
Teachers, nurses, doctors…Student loans (already overhauled & taken over by the govt.) were intended, I am sure, to subsidize that sick ‘heatlh care” scheme and guarantee that the right people became richer & more powerful, and the others? Pffft. Who cares? We will own them.
This is the trap, isn't it. Because of your own personal situation, you deem it acceptable to transfer the burden onto everyone else for your own circumstances (whether you chose them, or whether they 'happened to you' shouldn't be a deciding factor, but people rationalize it away as the latter whether that's true or not.) The problem is, there is only one way forward with this kind of "burden transference": everyone gets poorer, whether they asked for it, or not. Everyone becomes a slave to the system. I didn't ask to take on other people's debt; and yet I'm forced to, at the point of a gun. This is the toxicity of the siren song we know as "socialism". It sounds sweet, but results in ships perishing on the rocks. At the very least, you should vote in the next cycle AGAINST those who created this bribe, or we risk an inexorable decline into disaster as civilization.
I agree — and well said. But for one thing: I don’t see that our taxes, while under certain leadership increasing, have anything to do with the money the govt spends. That’s bottomless. It is both nonexistent (except to us peons) and infinite. So, what money they take from us becomes what it really is: a mirage. It’s to them a mere part of the bigger and boundless mirage they bribe the useful with into doing their will, as they in turn are bribed into doing some other one’s will, and so on. A confiscation of our time, our labor, our families’ well-being, our freedom, our lives —That’s real! But, the money isn’t.
I hope reality returns to our exchange system. Real for real. I expect the reckoning will happen at some point.
You are right that we should not be forced to take on other people's freely-entered-into debt, but also I discovered recently that student loans as I knew them are not the student loans of today, any more than college now is what it was when I got a pretty good education.
The same government that wants taxpayers to pay for somebody else's education is the government that sold usurious loans to naive students and their hopeful parents under the pretense that it was the same thing the previous generation had.
Let's point fingers not at the victims, nor the part-victims, but at the real criminals, starting with the Department of Education which apparently is the beneficiary of student loans now.
I wrote similarly (but more long-winded) just now (somewhere in these comments)
The problem started when the government under BHO— took over all student lending and made new rules. Sucker punched Americans. It’s a lot like the “health-care system” racket, which we’ve come to understand so well — It’s actually related.
The problem begins with the loan structures and interest rates; the so-called education system does its part.
So…
Get the govt out of education and RETROACTIVELY restructure the loans to a non-usurious, normal loan. Subtract the sum a debtor has already payed on the loans from the new total owed and go forward at the new, fair rate and principal.
Colleges may also be liable for their part: price-gouging (but I’d need a lawyer to comment on that). A class-action suit against these crooked (yes, crooked) universities and the public/private or /state partnerships might help.
The medical associations especially are part of the collusion.
Thank you. I suspect that this is precisely why they are doing this - to turn yet another sector of America one against the other. And is is working. You are absolutely correct - none of my grandchildren are going to
college." They are finding entrepreneurial or trade niches and will educate themselves =;-)
Yes, along with all the other "transfers" - funding kinetic wars abroad, worldwide biowarfare funding, plandemic "loans" to business, on and on. It is all enslavement - that's the point. So to cash aspersion on one group when it's all going down is rather like rearranging deck chairs on Titanic. The whole shitshow needs to (and will) come to a screeching halt. USD fiat is no more.
Soon they will have no ability to fund ANYthing. Not drug/gun smuggling, human trafficking, and all of their evil dirty now not-so-hidden deeds. Student loans is "just" a trigger point among a vast already-socialist out-of-control "elite" enslavement of the population at large. You wold rather pay for wars, biolabs, human trafficking? (you ARE - we all are).
Student loans just get the attention and turn one against the other - just as they want. It is playing into their hands. =:-\\
Great article. The problem is that those who take the devil's money do not read your article, nor do they have a conscious. They laugh in our faces and call us stupid while they keep partying with our money.
The National Debt Now at a hair short of 35 Trillion will never be paid off. The vote buying give-aways to college students, "new comers" formerly known as ILLEGAL ALIENS (or our replacements) Only mean wage slavery at low wages for most. Remember when the buying power of a dollar was a dollar and living wages were around $40 a week. A ounce gold coin was $20. Of, course none of us do remember that because that was around 1912. You could also buy a new automobile for around $500. So, for this generation of students what will be the retirement age? Pensions and Social Security will be thought of as Stipends. If you remember the movie Spinal Tap, a stipend was defined as an amount so small it was not considered money.
I want my money back which I paid for my kids' education. I don't want to pay for other's basket weaving courses and their party time in school. Go out and earn your money like we all had to do.
The bribe is for a vote. It's very hard to turn down "free money", but very easy to vote red. Double cross Biden. What's he gonna do, send his thugs and demand you vote for him?
I know my millennial son-in-law, up to his hairline in student debt, will no longer vote Biden. Hates Trump too. May just sit this one out. None of them understand what’s really going on, but they will not vote for Biden.
CC— May I ask you to read my post and tell me your thoughts? I think there is a solution outside of our binary discussion. Much appreciated.
I would like to see the rates adjusted retroactively and then going forward — to a non-usurious level — and the borrowers credited accordingly for moneys already paid.
The resulting balance will be a fair way for them to honor their commitments and many will find their newly adjusted debt is already paid off.
The remaning debts will be honestly owed, and in due course: freedom. Otherwise, years of debt slavery — due to both government schemes and colleges’ commensurate exploitation (with their greatly inflated tuition and housing costs, and student [& parent] wooing employees & offices. ) — to which this royal scam would bind the unwise student and or their parents.
I know of such a student. His loans (beginning in 2011) were limited, his interest 2-4x the going rate at the time. His single parent got sucked in too, but with Parent Plus loans, at an even more usurious interest rate (6.7-8.5% at the time): double that of his student loans. — With just high enough an income and just non-minority enough to be the perfect patsies.
The trick was and is: no allowable student loan can possibly cover more than a minor portion of the money needed to attend an out-of-town state U or regular private college (unless he qualifies for scholarships or special status) So the unwise parent will supplement with a second loan of her own — or else, well… the routine of college following HS, then a great job for her only precious son is out (such a myth was marketed to prospective students and parents alike as much as ever the covid vaccine was)— and I’m not talking prestigious schools here; all but a few in the entire country played the game. And only a small fraction of students were brilliant enough to merit a free ride.
Well, this young man has dutifully taken on his single fool of a mom’s obligation, feeling that it is all his burden of debt. But I think she fell into a trap many parents fell into: she failed to read her Parent Plus Loan’s fine print. It said that interest accrues from the time of loan receipt and not after graduation, as it was in her day. So, her 7.5% avg interest neatly compounded her loans by the time her son graduated.
A hard worker, he had difficulty finding a job upon graduation. Seasonal wild land firefighting for the state and interim coaching jobs helped pay the minimum to avoid penalties, while he lived at home. Now, he’s a full-time firefighter and trainer with the forest service, paid a decent salary and constantly continuing his knowledge — and still ever paying what he can (after a covid respite). It’s still uphill, the high interest loans are still roaring apace. With nearly every penny going to the govt contracted loan collector, he’ll never catch up.
In my view, the whole setup is and was wrong, and perhaps both criminally usurious and slyly conceived. Most of the student borrowers were far too immature and the parents too inattentive and foolish.
The government should be examined for their egregious actions and it must be set to right.
But NO to to blanket amnesty. It not only penalizes all taxpayers — but it doubly wrongs and penalizes those who either wisely eschewed the entire loan route, took out a more modest debt and have worked & scrimped to pay it off, and parents who were positioned so to have paid back their PPL debts quickly.
So, there is more to the story than just dumb kids who took stupid classes (which have no place anyway) and who chose majors that never had any usefulness or potential. It’s likely that far less than 40% of them actually belonged in the sham vestiges of places of higher learning in the first place. Those students— and we — certainly don’t benefit, since so many of the jobs they do get are blights on the country
There is much more to tell. But the whole thing has been a great, bloated bill of goods, hard sold and stupidly bought.
What a sorry con job. What sorry patsies.
Thank you for a detailed explanation and picture of what a real student's life looks like. This is what people (like me a year ago) need to hear about this issue.
I would like to see a push to allow for student loans to be discharged in bankruptcy. Not because I believe that is a better solution, but to expose the student loan scam for what it really is. Big Government and Big Education in bed together.
Exactly described:
“This is the price of Socialism: it is a deal with the Devil.”
“If not you, who? If not now, when?”
God bless you and your family supporting your work! You are much appreciated.🙏🙏
If only someone would come up with a way to depopulate the world of morons.... What about a medical trial that you don't get paid to partake in?
That should sort out those damned moron sellouts 😁
This article crystallizes the essence of inflation, taxes, socialism and the demise of prosperity to we the people!
I will be lambasted for this, but I am tired of hearing about basket weaving classes and blue hair.
Single struggling mothers sometimes went to school whilst working FT, when including internships, practicums and residencies, adding up to literally 80 hour weeks. I used to think anyone claiming that had to be lying.
Student loans are a usurious trap. it is slavery. You get far enough into the programs that you can't leave - then they change the curriculum to be "credentialed" IN THIS OR THAT. You have no choice. You miss out on family gatherings, compromise your health, but it is for the promise of good living *which it is at the time you begin.*
But by the time you finish, you are held on short tether to COMPLY with AMA/APA licensing body's new demands - support political agendas (this is NEW - not 20 years ago!), encourage your patients to vax (!!!!!), help with mental stress of CLIMATE CHANGE (seriously), encourage early intervention in gender "affirmation." Which of course you cannot ethically do. So you keep your head low and help those you genuinely can.
But the loans keep raising interest (when you are halfway through you have no variable/fixed CHOICE and they know it) - now @ 12% and rising. What was manageable now is ~$1600/mo. For a profession which has vanished. Not, though, the expenses (liability insurance, continuing "education," records requirements - 6 file cabinets worth, ethical responsibility for patients, emergencies, etc).
So the "unfairness" is on both sides folks. I have paid ~ $200K and owe more than I took out.
NO - not foolishness, but trust in what WAS a viable, responsible and altruistic profession.
But you signed the papers. What about a home mortgage? If you are still a single mother and have trouble paying the mortgage what happens? You lose the house. Maybe we should make everyone that takes the money work a volunteer service job for a few years to "pay" the rest of us off?
I went to college and grad school and paid out of pocket while working full time and having just adopted kids. What do I get???
That was built into Obamacare. Labor for the govt in exchange for some bit off your student loans. It’s on page 5,687,982 or something. I saved it back in around 2012 on a long-dead ipad. *Sigh*
Teachers, nurses, doctors…Student loans (already overhauled & taken over by the govt.) were intended, I am sure, to subsidize that sick ‘heatlh care” scheme and guarantee that the right people became richer & more powerful, and the others? Pffft. Who cares? We will own them.
…A whole lotta scheming going on.
This is the trap, isn't it. Because of your own personal situation, you deem it acceptable to transfer the burden onto everyone else for your own circumstances (whether you chose them, or whether they 'happened to you' shouldn't be a deciding factor, but people rationalize it away as the latter whether that's true or not.) The problem is, there is only one way forward with this kind of "burden transference": everyone gets poorer, whether they asked for it, or not. Everyone becomes a slave to the system. I didn't ask to take on other people's debt; and yet I'm forced to, at the point of a gun. This is the toxicity of the siren song we know as "socialism". It sounds sweet, but results in ships perishing on the rocks. At the very least, you should vote in the next cycle AGAINST those who created this bribe, or we risk an inexorable decline into disaster as civilization.
I agree — and well said. But for one thing: I don’t see that our taxes, while under certain leadership increasing, have anything to do with the money the govt spends. That’s bottomless. It is both nonexistent (except to us peons) and infinite. So, what money they take from us becomes what it really is: a mirage. It’s to them a mere part of the bigger and boundless mirage they bribe the useful with into doing their will, as they in turn are bribed into doing some other one’s will, and so on. A confiscation of our time, our labor, our families’ well-being, our freedom, our lives —That’s real! But, the money isn’t.
I hope reality returns to our exchange system. Real for real. I expect the reckoning will happen at some point.
I Pray it goes the right way.
You are right that we should not be forced to take on other people's freely-entered-into debt, but also I discovered recently that student loans as I knew them are not the student loans of today, any more than college now is what it was when I got a pretty good education.
The same government that wants taxpayers to pay for somebody else's education is the government that sold usurious loans to naive students and their hopeful parents under the pretense that it was the same thing the previous generation had.
Let's point fingers not at the victims, nor the part-victims, but at the real criminals, starting with the Department of Education which apparently is the beneficiary of student loans now.
Very well said.
I wrote similarly (but more long-winded) just now (somewhere in these comments)
The problem started when the government under BHO— took over all student lending and made new rules. Sucker punched Americans. It’s a lot like the “health-care system” racket, which we’ve come to understand so well — It’s actually related.
The problem begins with the loan structures and interest rates; the so-called education system does its part.
So…
Get the govt out of education and RETROACTIVELY restructure the loans to a non-usurious, normal loan. Subtract the sum a debtor has already payed on the loans from the new total owed and go forward at the new, fair rate and principal.
Colleges may also be liable for their part: price-gouging (but I’d need a lawyer to comment on that). A class-action suit against these crooked (yes, crooked) universities and the public/private or /state partnerships might help.
The medical associations especially are part of the collusion.
A thorough overhaul
needs to happen.
It all reeks. And we need to clean it out.
Thank you. I suspect that this is precisely why they are doing this - to turn yet another sector of America one against the other. And is is working. You are absolutely correct - none of my grandchildren are going to
college." They are finding entrepreneurial or trade niches and will educate themselves =;-)
That's the point.. except for the uber rich we are all the same poor.
Next we will be buying houses for the poor cause they can't afford them.. oh wait we do that LOL And illegals too!
Yes, along with all the other "transfers" - funding kinetic wars abroad, worldwide biowarfare funding, plandemic "loans" to business, on and on. It is all enslavement - that's the point. So to cash aspersion on one group when it's all going down is rather like rearranging deck chairs on Titanic. The whole shitshow needs to (and will) come to a screeching halt. USD fiat is no more.
Soon they will have no ability to fund ANYthing. Not drug/gun smuggling, human trafficking, and all of their evil dirty now not-so-hidden deeds. Student loans is "just" a trigger point among a vast already-socialist out-of-control "elite" enslavement of the population at large. You wold rather pay for wars, biolabs, human trafficking? (you ARE - we all are).
Student loans just get the attention and turn one against the other - just as they want. It is playing into their hands. =:-\\
Great article. The problem is that those who take the devil's money do not read your article, nor do they have a conscious. They laugh in our faces and call us stupid while they keep partying with our money.
The National Debt Now at a hair short of 35 Trillion will never be paid off. The vote buying give-aways to college students, "new comers" formerly known as ILLEGAL ALIENS (or our replacements) Only mean wage slavery at low wages for most. Remember when the buying power of a dollar was a dollar and living wages were around $40 a week. A ounce gold coin was $20. Of, course none of us do remember that because that was around 1912. You could also buy a new automobile for around $500. So, for this generation of students what will be the retirement age? Pensions and Social Security will be thought of as Stipends. If you remember the movie Spinal Tap, a stipend was defined as an amount so small it was not considered money.
I want my money back which I paid for my kids' education. I don't want to pay for other's basket weaving courses and their party time in school. Go out and earn your money like we all had to do.
The bribe is for a vote. It's very hard to turn down "free money", but very easy to vote red. Double cross Biden. What's he gonna do, send his thugs and demand you vote for him?
I know my millennial son-in-law, up to his hairline in student debt, will no longer vote Biden. Hates Trump too. May just sit this one out. None of them understand what’s really going on, but they will not vote for Biden.
It's not loan forgiveness it's loan transfer from then to all of us.