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Senate Democrats propose canceling $10,000 in student debt for all borrowers amid coronavirus

WillHurtDontCare

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This concerns politics so I am not sure if it is off limits on this forum, but it is a big enough idea that I figured it was worth mentioning.


This could just be a PR stunt where they expect the Republicans to shut it down and the democrats can talk about how they tried.

But if it is sincere, does anyone else get the feeling that there is something horrible behind this? Like either the situation around the coronavirus is more dire than we know, or there is just some nefarious scheme attached to this?
 
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Strategery

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But if it is sincere, does anyone else get the feeling that there is something horrible behind this? Like either the situation around the coronavirus is more dire than we know, or there is just some nefarious scheme attached to this?
Best guess: they're trying to get people more comfortable about buying shit in an attempt to further prop up the market?
 

reedracer

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This concerns politics so I am not sure if it is off limits on this forum, but it is a big enough idea that I figured it was worth mentioning.


This could just be a PR stunt where they expect the Republicans to shut it down and the democrats can talk about how they tried.

But if it is sincere, does anyone else get the feeling that there is something horrible behind this? Like either the situation around the coronavirus is more dire than we know, or there is just some nefarious scheme attached to this?
I don't believe the folks with $10k school debt are in trouble. Depending on income I think the issues come in to people with $30k and up in debt. And yes people signed the note, but the rules around these loans and the way they work border on indentured servitude where the passage is a college education instead of a ship ride.
 

lowtek

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They expect this to go on for 18 months. They've already put rates to 0 and are talking about helicopter money. What are they going to do when unemployment and inflation skyrocket ?

I still owe a bit on my student loans. Guess I'd be a moron to continue paying.
 
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Val Okafor

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Please include me in the beneficiaries.

That is pure politics, by the way, it's not happening. It may be to appease Sanders base so he can bow out!
 

BizyDad

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They expect this to go on for 18 months. They've already put rates to 0 and are talking about helicopter money. What are they going to do when unemployment and inflation skyrocket ?

I still owe a bit on my student loans. Guess I'd be a moron to continue paying.

My thoughts exactly
 
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Gr8FUL

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This concerns politics so I am not sure if it is off limits on this forum, but it is a big enough idea that I figured it was worth mentioning.


This could just be a PR stunt where they expect the Republicans to shut it down and the democrats can talk about how they tried.

But if it is sincere, does anyone else get the feeling that there is something horrible behind this? Like either the situation around the coronavirus is more dire than we know, or there is just some nefarious scheme attached to this?
Definitely sounds fishy, the whole thing wreaks. Neither party ever gives up something for nothing. Traditionally they like to give you something in your right hand and take it from you in your left hand
 

QDF

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They expect this to go on for 18 months. They've already put rates to 0 and are talking about helicopter money. What are they going to do when unemployment and inflation skyrocket ?

I still owe a bit on my student loans. Guess I'd be a moron to continue paying.

Exactly -- I paid off $40k in private loans last year (for a degree I didn't even finish), but I refuse to pay off the $10k in government student loans I have because of all this talk of the government canceling student loan debt, even before the coronavirus.

If I paid it off and immediately afterwards, they decided to erase this debt, I (and I'm sure many others) would be quite pissed.
 

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