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/biz/ - Business & Finance

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51083517 No.51083517 [Reply] [Original]

NORMAL SCENARIO
>student takes out loan from govt
>student makes regular payments to govt
>govt gets the loan back with interest

DEBT FORGIVENESS SCENARIO
>student takes out loan from govt
>student makes regular payments to govt
>govt forgives remaining debt, essentially taking a loss on student
>student is off the hook for future payments, gaining nothing materially

This is a shell game. Biden retroactively paid for a bunch of college kiddies' tuition, counting on future taxpayers to make up for the loss (Hint: IRS army). The real winners are democrat congressman who will keep their seats later this year.

>> No.51083527

>>51083517
Don’t care, still voting for her

>> No.51083554
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51083554

>>51083527
>voting

>> No.51083572
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51083572

>>51083517
If they did what I think they did, we’re about to witness a shitstorm of epic proportions
>millions of retards will get a break now
>celebration at this great achievement
>sometime in January (important: after the elections) they get a letter saying they owe taxes on an extra five figures of income
>a collective WTF befalls the nation

>> No.51083631

>>51083517
>counting on future taxpayers to make up for the loss (Hint: IRS army)

Not me, I'm out. I paid my 30K loan, and now I have to also pay someone else's? All so the predatory lenders who service the gov loans can be made whole?

America: Capitalism for the responsible hardworking. Socialized bailouts for lenders and corporations.

I SERIOUSLY AND FULLY INTEND TO max out all my lines of credit, dump it into Monero, just generally take as much as I can. I have an 800 credit score, I went car free for 5 years after graduation just to pay off my loan, while everyone else went into debt for brand new cars. I even rode the niggerbus, and almost got stabbed once.

This broke me.

>> No.51083648

Only 18% of millennials have student loans.

Why do debtors constantly assume they are a majority or even a large minority?

>> No.51083662

>>51083631
stop with the blue team red team. look for a valid third way party like NJP.

>> No.51083669

>>51083572
it's tax exempt under the American Rescue Plan act.

>> No.51083718

>>51083662
I don't even intend to vote for ANY party. This buckbroke me so hard, along with the few remaining Americans who actually make this country run. I fully intend to use my good boy points (credit score) to rack up as much debt as I can, and ESCAPE.

>> No.51083761

>>51083631
Even though I'm benefiting from it I completely agree with you that it's complete bullshit. But 20k is 20k.

>> No.51083766

Are these waters fucked up?

>> No.51083809

Will this make crypto pump since students will have more money to spend on stupid shit? Doubt it will work that way, Biden should have just given every indebted student 10k, I see no way I can profit from this so I'm against it.

>> No.51083835
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51083835

>>51083517
>have $20k of debt disappear
>gaining nothing materially

>> No.51083868

money is fake and printed out of thin air

stop pretending otherwise

>> No.51084044

>>51083868
Inflation is a real effect from fake currency