I do have a problem with government forcing me to financially support American college graduates who should be paying their own way.

But since you have no problem paying for them there should be a charity for you to contribute to if you choose to.

Good.  The .gov should not be in the loan forgiveness bidness...

Bust a deal, face the wheel.

Meh, .gov changes deals all the time.

Look at all the guys who paid into their GI Bill, and when post 9-11 came out, poof, all your money is gone.

Why do I keep reading about well paid teachers (NYC, Bmore, WDC) who do shit work and have shit for graduation rates, or are straight up incompetent (read about NYC rubber rooms for teachers) and yet they are paid some of the highest wages ever. Same with all the incompetent gov workers living high on the hog in the richest counties in the USA (surrounding WDC)?

The leeches think you're a sucker.

A hard lesson in never trusting your government.

Your debt is your debt. No one held a gun to their head to borrow that money.

No fucks given, fuck them and the student loans, I dont give a flying fuck, pay for your own shit

Fuck College

No congress can bind a future congress.

I won't go as far as calling them snowflakes, but I do think it's silly to ever put your trust in the government.  Hopefully, these people who feel "burned" by this situation will have learned a valuable lesson and vote for smaller government in the future.  

There are obvious comparisons to be made between this situation and the pending trainwreck that is Social Security.  The big difference, though, is that participation in SS is not voluntary.

I do agree though if you have a signed agreement for loan forgiveness once you have fulfilled whatever you agreed upon. That it should be honored. But I do not consider working in L.E. Fire Rescue, Teaching public service. I consider that a choosen field work in. You did not decide to become one of these just to get your debt wiped out.

Oh by the way that picture of dragging that ball and chain does not represent you very well. It kind says that the people in the picture are a pos for not paying their student loans.

Whining about that taxpayers should.

They're really going to bitch when SS time comes around.

Yep, the government would definitely be banned from the EE for agreeing to terms and then not following through.

What if the Government made a similar agreement with Blue Collar Trade Schools due to the lack of skilled craftsmen (that the Country is desperately in need of). Go to trade school, work xxx years, and then you will get a full reimbursement for the cost of all your training (schooling and on the job) once you reach Journeyman status. I bet some here in GD would be telling junior to jump on that chance, and would be bitching the loudest about it when the rug was pulled out from under junior right before completing the program.

Both myself and my wife have jobs that would have qualified for that if the program was in place when we were younger. We both have degrees (she has 2) that we, wait for it................................
PAID FOR DAMN OURSELVES!!!

I can see GD is one side or the other with just a few exceptions. My view is that a hypocrite is the worst kind of crite (if that's a thing). Using the EE as an example higher up is a good point. People make shitty deals. People agree to buy crap that they later find cheaper and newer. Those same people are told to honor the deal anyway and to stand by their word.

We can say don't trust the Gov't all day long, but it doesn't change the fact that even though I know our Gov't is corrupt and lying thieves, I still wish/want/expect an honorable American Government that stands by it's word and promises. I don't want them to just keep their word to my political side, but for all Americans.

This is a shitty program that I don't agree with, and don't want to pay for (understanding my taxes would just go to a different shitty program though). The Federal Government has no business in this what soever.

But they did enter into. I didn't raise my voice to stop it (or even learned that it existed in the first place). I didn't march on Washington, write a letter to my Congressman, or even make a Facebook post disagreeing with it. In other words I didn't do my civic duty to stop the Federal Government, made up of elected officials that work for me, from entering into a stupid ass agreement. But they did, and as a citizen and taxpayer (and the politicians rightful boss) I think it should be honored.

Just as, on a really smaller scale, a gun store offers a ridiculously low priced in store deal to get people in the door, and then won't honor it after people drive from two states over to take advantage of it (I mean fuck it, i paid full price for mine. So can you.)

Education costs are so high because we subsidize it regardless of what people study. Education assistance should vary based what the degree being earned and the likelyhood of that degree leading to a prosperous career.

If you're going to college for a degree that obviously worth nothing on the job market like European History or Performing Arts or Musical Studies, or where the supply of people with that degree is heavily oversaturated compared to the demand and there's hundreds of people with that degree for every one job opening like Education or Law, then you shouldn't get education assistance. If the economy is not going to get a return on investment for helping pay for that degree, then pay for it yourself. Sorry.

I think education assistance should be restricted to people studying for degrees that economy is going to get a return on investment on, mainly STEM degrees and trade skill certifications. People going for welding or machinist certifications, in-demand skills where everyone with them has a high chance of making a good deal of money, or Electrical Engineering or Nuclear Physics where you'll make a shit ton of money, should be getting a lot of education assistance. People studying for oversaturated fields like Education and Law should get very little assistance, if at all. And people studying Art History or Gender Studies should definitely get nothing.

This is the problem along with vanishing votech schools.  Instead of letting in a bunch of 3rd worlders, we could be training American students to machine and weld.  Now tax payer funded colleges and universities are propaganda machines with mandatory "diversity" requirements for every major.

If we go with that theory then we can't ever get rid of Obamacare or any other entitlement program. That's all this is.

He's in debt $50,000 for each year of school?
LOL.  No wonder he went to work for the government.  He's too stupid to be employed anywhere else. 

He was just banking on taxpayers bailing him out. Mine as well live it up, right?

Isn't Trump part of the government?

This.  Stop the program if you don't want to deal with it anymore.  Let the people currently under it get forgiven.

My question is taxes, I had a student loan forgiven, but it counted as income.

 If the gov pay the loan off they are still on the hook for taxes on 100-400k

And because the Federal Government has made the money so easy to get, either via loans, federal student aid, or veteran's educational benefits.  

If they shut those programs down or drastically limited the application of the funds as you suggest, college costs would stop rising dramatically and departments for degree programs like Gender and Ethnic studies would be in a lot of trouble.  Want to be a doctor, nurse, engineer, or study agriculture?  No problem.  Here's some aid and/or a loan.  Want to study Philosophy?  Great.  Good luck with that.  Pay your own bills.

Probably more like $15K for school, $35K to live/vacation on.....  A job would totally ruin the ability for random int'l travel.

According to what I've read, no.  Loans forgiven under Public Service Loan Forgiveness program are not considered income by the IRS.

This country has an education addiction. We have beaten it into kids heads that they need to go to college for decades, and we have bought into the idea of "you can't put a price on a good education" and followed it up with a lot of bad educations. There are a ton of jobs that don't require a degree that require a degree to get. We also front load the education system with the less valuable classes. If we really wanted to fix things, we would have state schools that focus purely on the employment qualifications of a degree and give the students who are only in it to get a job a viable career path at a reasonable cost. No arts programs or music programs. No library or athletic facilities. Just classrooms that can be used to provide low cost degrees in a variety of in demand fields.

What undergrad and law school did he go to that cost $300,000

How old are you? Close to social security age?

I'm not.

Similar to Social Security,huh ?

Come to think of it, I don't see so many DeVry/Univ. of Phoenix and other mail order non-brick 'n mortar "schools" advertisements nowadays.  I know the Dept. of Education started investigating many of them because of they sucked up a lot of GI bill moneys and had a high failure rate for their clients.

I don't trust him either.  Results are what we should hold people to.

How about a compromise?

Student loans will be forgiven using the following criteria:
The lowest in-state college tuition rate.
The bare minimum credits required for the position you accepted in order to qualify for the plan.
That's it... anything above those costs are 100% on you.

You spent $300k at a top tier University for a Masters? Good for you.
The position you took for loan forgiveness teaching inner city youts only requires a bachelors degree.
The hours required for that bachelors at the cheapest state school would have cost $20k.

We forgive $20k, you're still on the hook for $280k.

I'll go for that, IF the program is shut down completely after this batch of snowflakes melts.

 I'm guessing they won't.

Of course not.

But if I wanted to pull $250k out of my 401K (money I actually earned and invested) I'd get hit not only with taxes but with about $25k in penalties.

Fuck the snowflakes.

Those under 40 will probably never get any of their social security "back"

I just treat it like another tax

FPNI.

No shit. Whiny ones too, much like yourself. Perhaps you should take the teaching degree you apparently expected to get for mostly free and get the fuck out of rural Kentucky if you want to make money

Social Security retirement age has been a moving target for as long as I've been following politics.

Pensions have been on the bubble.

Tax rates change every year.

Estate/Inheritance Law is fluid.

Hell my property value fluctuates all over making my tax burden variable.

Marriage is no guarantee.

Does it suck? YES! Is it fair? NO! Is it life? YES!

That being said, if there is a signed document for participants then I would honor those. If it's just an application you fill out and provide documentation after 10 years then drop it.

Start over.   You're lost.

BTW, Are you still riding around in Carter's purse or are you just a generic DNC whipping boy these days?

Army repays 40K.

No reason these snowflakes should get anymore than that.

Why should working class americans subsidize people who partied for 8 years and raked up massive debt for their bullshit degress.

looks like a whole bunch of people with fancy, expensive degrees are fixing to get their first real education in the real world.

sounds like the draconian gun laws in NYS

The age of the person is irrelevant.  There's likely people in here that didn't worship the government, but took a lower paying job because it included loan forgiveness.

If you sign something in good faith you can't be faulted for expecting to receive it.

It's probably a program that was a little aggressive cost wise exacerbated by the rampant increase in education costs.

But if you want competent prosecutors and public defenders you better pray some confidence comes back.  If this program puts doubt in the legal profession that their education will get forgiven, then we may be in for a larger problem.

You guys expect the taxpayers to willingly  lay out a trillion bucks for some snot nosed, entitled,  leeches' overly expensive college degrees, you'll  need to improve your personalities.

Let this be a lesson:

Never trust the government. Especially when they say, "I'm here to help you."

Those with state or federal pensions, take note.

Reference: Virtually all of the US History domestic programs since we were a country.

The schools pump sunshine up the young kids asses.  They tell the kids that they will easily get a job paying $100K or $200K a year and will easily be able to pay the loan and have a good life.   The young kids believe it.   The Govt hands out money like it is Monopoly money.   The people that take the ten year deal are virtual slaves to the Govt.   The monthly payment is also reduced.  

Before Obama, a person could declare bankruptcy after 3 years of getting out of school.   Obama extended it to 7 years.

The kids get out of school and find out they can only make $15-$16 an hour because there are no jobs in their field.   They could have gotten those jobs without a degree and are years behind.

These are loans with no collateral.   We need to stop these loans and have a better system in place.

"It would be absolutely detrimental to those of us who have planned our lives around this program. It would be the equivalent of pulling the rug out from under us," said Daniel J. Crooks III, a government attorney who is expecting loan forgiveness from the public service program in six years. 


^ For an attorney, none to bright.

He does work for the government... that right there means he's dumber than the average bear.

I guarantee except for the existence of this "program"; each and every one of those sad sacks who are now  facing huge debt as a result of their having spent far too much on their college costs, would have been more proactive regarding controlling their expenses had they known that it would be they alone, and not the taxpayers, who would be holding the bag for their expensive tastes in schools and living expenses.

Plenty of folks pay their own way through school, no tears for those who became greedy and overspent because they believed they were spending other people's money.

fuck em. Cancel it.


that's EXACTLY what's going to happen to me,  pay in my ENTIRE working life, and it'll be bankrupt and gone before I get to a single cent.

Keep my money, cancel the whole thing and quit taking money from my paycheck.  Let me out.

And student dept forgiveness?  You wracked it up, you pay it off.

I have paid of my loans long ago (as small as they were), so this means my only skin in this game is having to PAY for it.

With that in mind, it is not right to "alter the deal" mid stream. Idiot politicians made the stupid incentives and people planned their lives around them.

As they mentioned, teachers, cops, etc.  Yes the program is stupid, so kill it for future graduates. Don't fuck over people who did a cost benefit analysis and realized that this program was worth it to them.

Sounds a lot like democrats howling that Donald trump didn't pay taxes. Even if true, why blame him? Why not blame those who created the laws in the first place? Sometimes it is the financially smart thing to do to take advantage of the loophole.

What's next, tell people who have owned a home for 10 years that they owe back-taxes on their home mortgage interest deduction because tax law has changed? Give me a break.

I'm all about reducing the size and scope of government, but not fucking people over who took advantage of legal programs as laid out by the government.