Stop paying your student loans!

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BMBiology

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All will be forgiven by Warren, Sanders! Don’t be foolish! Vote for them and they will use their magical presidential pen to whip out your debt.

www.cnbc.com

Elizabeth Warren says her plan to eliminate student loan debt can bypass Congress

The plan, which comes weeks before voting begins in the first primary and caucus states, adds urgency to legislation she introduced over the summer to cancel the bulk of the nation's outstanding student debt.
www.cnbc.com www.cnbc.com
 
Warren has a better chance than Sanders but neither will be president
 
Neither will be president but if they did it states:

“ That bill, introduced with Rep. James Clyburn, D-S.C., would forgive up to $50,000 in student debt for individuals with household incomes under $100,000”

Sadly some pharmacists may actually make the cut.
 
King2440 said:
Neither will be president but if they did it states:

“ That bill, introduced with Rep. James Clyburn, D-S.C., would forgive up to $50,000 in student debt for individuals with household incomes under $100,000”

Sadly some pharmacists may actually make the cut.
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I would purposely drop to part time for a year to accomplish the student loan forgiveness
 
King2440 said:
Neither will be president but if they did it states:

“ That bill, introduced with Rep. James Clyburn, D-S.C., would forgive up to $50,000 in student debt for individuals with household incomes under $100,000”

Sadly some pharmacists may actually make the cut.
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Not going to happen. The republicans control the senate and all you need is 40 senators to filibuster a bill. I don't get why people buy into these unrealistic promises. You need Congress approval. If a president can just erase student loan debt, then Obama would have done it already.
 
JustFillIt said:
I would purposely drop to part time for a year to accomplish the student loan forgiveness
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It would take the right set of circumstances to make that worthwhile. First you would have to be single or sole earner and it would make the most sense if you were close to the 100k cutoff and just needed to dip under it. Even then you would “only” get up to 50k forgiven. Still better than a sharp stick in the eye for sure.
 
JustFillIt said:
I would purposely drop to part time for a year to accomplish the student loan forgiveness
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It sounds like a good plan but they say "UP TO $50k" so you could get screwed over if you lost ~$30-50K potential income/benefits and then was only forgiven like $5K lol.
 
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BMBiology said:
Not going to happen. The republicans control the senate and all you need is 40 senators to filibuster a bill. I don't get why people buy into these unrealistic promises. You need Congress approval. If a president can just erase student loan debt, then Obama would have done it already.
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THANK YOU!!! Anyone with any sense can reason through this. Why in the world would the government give up one of their only cash cows? Does anyone realize how much money they make off of the interest they earn on student loans!? Why do you think they wrote it into law that you can't even get rid of your loans by declaring bankruptcy?? Even if democrats controlled both houses, i doubt that anything would be done about student loans.
 
TerryTerry said:
You mean, just pay minimum.
Blindly stop paying student loan would destroy anyone`s credit.
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A lot of people think their loan would be forgiven so they keep on paying the minimum. In the mean time, interest keeps on adding to the principle. They might end up being the ultimate loser.
 
BMBiology said:
They might end up being the ultimate loser.
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Which they would richly deserve.

It's not like someone pointed a gun at them and forced them to take that money. You took money, you spent money - why the eff do you want taxpayers to take care of your responsibility to repay that money?
 
Hels2007 said:
Which they would richly deserve.

It's not like someone pointed a gun at them and forced them to take that money. You took money, you spent money - why the eff do you want taxpayers to take care of your responsibility to repay that money?
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Bernie wants to tax everyone’s retirement funds like 401 k to pay for loan forgiveness.
 
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The cynic in me knows that regardless who is elected, there will be nothing good and plenty of bad things coming my way as an average Jane Taxpayer. I also do not believe that anyone who is involved in politics at a level above, say, a small-town (as in a couple hundred people) mayor is not a scumbag. Either they are one before they get elected, or they become one to survive after they are elected.
 
Hels2007 said:
The cynic in me knows that regardless who is elected, there will be nothing good and plenty of bad things coming my way as an average Jane Taxpayer. I also do not believe that anyone who is involved in politics at a level above, say, a small-town (as in a couple hundred people) mayor is not a scumbag. Either they are one before they get elected, or they become one to survive after they are elected.
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You either die a hero or live long enough to see yourself become the villain. - Harvey marthafauqing Dent
 
Dbric36 said:
Yes pay $15000 more in taxes per year and get $1000 a month from the government. Sounds like a good deal.
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I think he's planning on implementing value added tax. I wouldn't be paying more taxes if I don't buy things. Trickle up economy is what he is proposing. Only candidate smart enough to understand how we can survive the future before china cancels the world economy and commits a suicide.
 
Gotta love magical thinking. First it's Santa Claus who brings presents (that are made for free out of magically obtained materials by selfless elves), then it's Nice Politicians who bring free money (that has no negative consequences whatsoever).

Reminds me of the story of Mansa Musa and one of the earliest examples of 'generosity' and its consequences...
 
I wouldn't recommend not paying your loans ever. Just get on PAYE or REPAY or IBR and pay what you can. UNLESS you are really doing well financially. Right now I am paying all my loans on time with a zero dollar monthly payment due to my income being under the federal poverty line. I don't think it's a good idea to pay off your loans early because having outstanding loaned money is a hedge against your early death. Yes you will pay more interest in the long run but consider this situation:

You aggressively pay off your loans in 7 years. Then you lose your job and have no emergency funds.

You aggressively pay off your loans in 7 years then get diagnosed with cancer or are involved in a fatal automobile accident.

My goal is to get a pharmacy job sometime in the next five years and start paying more towards my loans. I'm currently on PAYE. I chose PAYE because it has the fastest payoff time 20 years vs 25 and it doesn't penalize your wife / husband via taxes if you marry a high earner (i plan on marrying someone that earns a lot of money).

As for OP's original question, just like doing a test claim on a prescription you don't have or filing out a Prior Auth for a patient that is under a physician you have a collaborative agreement with, DON DO IT. It could be considered fraud. You signed up for the loans it's your responsibly to pay them in a manner approved in the contract.
 
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Dbric36 said:
Who is paying to give everyone $1000 per month?
TAXES?
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“A Value-Added Tax (VAT) is currently used by 160 out of 193 countries, including every developed nation except the US, because it is a more efficient way of generating revenue with no loopholes. Big companies and rich people are excellent at moving assets around to avoid taxes – Amazon, Google, and other companies funnel hundreds of billions in earnings overseas. In fact, Amazon paid zero in taxes last year. A VAT makes it impossible for them to benefit from the American people, automation, and infrastructure without paying their fair share.

By implementing a VAT, the American people will get a tiny sliver from the transactions of the big winners from the 21st century economy, the trillion dollar tech companies.

These revenues will help finance the Freedom Dividend and provide a floor for millions of Americans to build on, incentivizing businesses to control costs, encouraging savings, and simplifying administration. While transactions through the supply chain are taxed, only a fraction of that tax is passed on to consumers. Coupled with the Freedom Dividend, it will be quite progressive.”

www.yang2020.com

Value-Added Tax - Yang2020 - Andrew Yang for President

Brief A VAT is currently used by 160 out of 193 developed countries because it is a more efficient way of generating revenue with no loopholes. Big companies and rich people are excellent at moving things around to avoid taxes – Amazon, Google, and other companies funnel hundreds of billions…
www.yang2020.com www.yang2020.com

Want more info? Check out his interview with Joe Rogan:
 
Yep more taxes for the government to waste
 
Dbric36 said:
Yep more taxes for the government to waste
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The money goes directly to U.S citizens. You can spend it on whatever you want - student loans, healthcare, housing. Alaska has a form of universal basic income. They get their money from oil and instead of the government spending the money, the state gives $1-2 k/year to their citizens.
 
LivingMyBestLife said:
I wouldn't recommend not paying your loans ever. Just get on PAYE or REPAY or IBR and pay what you can. UNLESS you are really doing well financially. Right now I am paying all my loans on time with a zero dollar monthly payment due to my income being under the federal poverty line. I don't think it's a good idea to pay off your loans early because having outstanding loaned money is a hedge against your early death. Yes you will pay more interest in the long run but consider this situation:
Click to expand...

Sounds more like you're counting on the disintegration of the global financial system.
 
None of this matters since Joe Biden is going to be the nominee. I don't even know why those 2 bums are still in the race
 
BenJammin said:
None of this matters since Joe Biden is going to be the nominee. I don't even know why those 2 bums are still in the race
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Biden is a neoliberal centrist hack. Same for that ***** Buttigieg and Klobuchar.

Sanders is the true populist in the race and has the best chance to steal the blue collar and independent vote.

Gabbard has the best foreign policy out of all of them. From what I've heard she wants to cozy up with Iran and go after the real bad guys (Saudi).
 
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Sparda29 said:
Biden is a neoliberal centrist hack. Same for that ***** Buttigieg and Klobuchar.

Sanders is the true populist in the race and has the best chance to steal the blue collar and independent vote.

Gabbard has the best foreign policy out of all of them. From what I've heard she wants to cozy up with Iran and go after the real bad guys (Saudi).
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But Yang is the only candidate that can steal trump votes.
 
Gombrich12 said:
Can't pay back $300,000 in loans on a 75K pharmacist salary.
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I would still like to see them pay back the loans in one way or another even if it means garnishing their social security payments.

Most of us don’t get a second chance or bailout for our financial mistakes.
 
stoichiometrist said:
I would still like to see them pay back the loans in one way or another even if it means garnishing their social security payments.

Most of us don’t get a second chance or bailout for our financial mistakes.
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eh... they can't take it when i'm dead. i'll extend this out as long as possible haha
 
stoichiometrist said:
Most of us don’t get a second chance or bailout for our financial mistakes.
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Untrue. Bankruptcy is an option for the vast majority of financial mistakes.
 
I wonder if IBR actually discourage people from working OT, buying stocks. If they make more then their monthly repayment would also goes up.


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Instead of repaying student loans just give out flat cash amounts each time a level of education is completed. 5k-associates or trade certification. 20k-bachelors. 20k-masters. 40k-professional school and phd.
 
BenJammin said:
Quit being a deadbeat and pay your bills.
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I pick and choose.... I refuse to be taken advantage of. I am not afraid to tell an entity that is taking advantage of me to go pound sand.. I maintain a credit score of 780+

Just because someone sends me a bill does not mean that I legitimately owe them money.
 
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