this post was submitted on 30 Jun 2023
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Now wait a damn minute. It is not just the working class that owes loans for schooling, one may say the lowest economic class in the US made the least use of student loans, it is the middle class that benefitted the most. Kids that got out of public school and went straight to work, either in factory, construction, etc. made very little use of those loans. On the other hand some who did get loans may have used them as capital to escape work and are now well off, just didn't feel like paying.
The populist right invested in this reality and got a significant part of the real working class who never saw a student loan to "rightfully" say if you are going to donate 30-50.000 to others why not give me just as much too?
The neoliberal nightmare (Biden) as brother/comrade Manning Marable called him (in contradiction to the "neo-fascist disaster" Trump) invested in appealing to this lower middle class of managerial stuff and their kids, to give them a gift so he can get elected. And he did probably on this promise for a gift himself. He may have known it wouldn't legally make it all the way so it was a cheap promise to make. Who knows what's next from this war-monger constitution abolitionist (covid violations of constitutional human rights).
The 1.2 trillion of fake dollars printed and distributed wasn't illegal, corporations sucked it all up, but loan wavers are, because they are not for everyone's benefit.
EDIT: To go to a short term trade school to get a license or certificate within months (such as CDL driver's license) only costs a few thousands in loans and mostly the payments of were made sortly after by an employer. To go through university and graduate education loans could easily reach 50+ k$, for which an MBA could graduate, start an Inc. consulting/accounting/financing and as a person can have unpaid loans while their business could be bringing millions. Truck driver got 3000, and it was paid 6-9mos after first job. Golf-club life member owes $100k with penalties and interest and doesn't care, it was government guaranteed and nobody is chasing to throw him in prison.
I'm not really sure where your weird take on this comes from, but the lowest economic class does not get enough pell grants and financial aid to not have to take out student loans.. and middle class absolutely took out loans. The wealthy had their college paid for, mostly by paying right out of pocket. The people who can afford to make the payments do, and did. This was never about hand outs or freebies.
For the last 12 years, if you would have been paying attention, was packed full of predatory lending practices on students because they have no choices. It's either pay and not afford rent, not pay and suffer wage garnishments, or take part in there programs where you can at least pay a little bit see your balance skyrocket because you aren't even paying the interest on it. There. Were. No. Options. And before you go into the BS about, then go to trade school: need flash - trade schools were packed and no one was hiring. It was either better you skill set, or fight for the low wage fast food jobs.
The loan forgiveness was meant to right the wrongs that happened under republican leadership of these programs.
It's ridiculous that I even have to explain this. It's like people choose to be blind and worship the people stepping on their heads with their heels.
undefined> The loan forgiveness was meant to right the wrongs that happened under republican leadership of these programs.
I remember since the early 90s under no republican leadership the gov guar. student loans were sold over cheap to private banking and collection to collect. Again we are not a liberal crowd here to preach anti-republicanism when real defense and advancement to capitalism is carried out by dixocrats, including a dark-skinned one.
Remember who in the 90s passed legislation to wipe out urban poor housing under no protest no contest in court for 1/3 value offerings, and handed out urban land to developers to beautify and modernize cities? This caused the real-estate boom, the explosion of housing costs, and the transfer of the financial bubble into housing and development, to yet another bubble that blew up and sentenced the entire world to pay off the US financial bubble. It also created the transportation havoc created in nearly all urban/metro areas and had people travel 1-2hrs to get to a reasonably paying job.