Student Debt Forgiveness for Frontline Health Care Workers Act

[cbtk18]

Dear Friends,

I just signed the petition "Forgive student loan debt for doctors, nurses, and health professionals" and wanted to ask if you could add your name too.

This campaign means a lot to me and the more support we can get behind it, the better chance we have of succeeding. You can read more and sign the petition here:

Forgive student loan debt for doctors, nurses, and health professionals

Health professionals carry crushing loads of student debt, from tens to hundreds of thousands of dollars. Now they are like soldiers in war, saving lives while risking their own and protecting the rest of us, and many have already died while doing their duty. Without the debt burden more would...

sign.moveon.org

Thank you!



P.S. Can you also take a moment to share the petition with others? It's really easy – all you need to do is forward this email or share this link on Facebook or Twitter:

Forgive student loan debt for doctors, nurses, and health professionals

Health professionals carry crushing loads of student debt, from tens to hundreds of thousands of dollars. Now they are like soldiers in war, saving lives while risking their own and protecting the rest of us, and many have already died while doing their duty. Without the debt burden more would...

sign.moveon.org

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Members don't see this ad.

 

[cbtk18]

Today, Carolyn Maloney, a congresswoman from New York, said she will introduce legislation to do just that. The so-called Student Debt Forgiveness for Frontline Health Care Workers Act would eliminate graduate school debt for health care workers who are providing care in response to the coronavirus pandemic. It would include recent graduates and professionals who are still paying off their loans.

“Medical professionals in hospitals and other medical settings are operating in extraordinarily difficult and dangerous circumstances to provide care for critically ill COVID-19 patients and protect our communities. New York City has been hit particularly hard in the pandemic, and many other areas of the country are beginning to experience surges in patients with COVID-19 symptoms, putting great stress on health care institutions and their employees. The least we can do to recognize their service is to forgive their graduate student loan debt so that they are not forced to worry about their financial wellbeing in addition to their health and the health of their families while they respond to a public health emergency," Maloney said in a news release.

 

[cbtk18]

Movement to Forgive Health Care Workers' Student Debt

Consuelo López-Morillas, a professor emerita at Indiana University, Bloomington, started a petition asking lawmakers to cancel student loan debt for doctors, nurses and health care professionals who are responding to the coronavirus pandemic. More than 385,000 people have signed on since it...

www.insidehighered.com

 

[cbtk18]

We Should Forgive Student Loans For Doctors Risking Their Lives To Fight Coronavirus

"The best way we can say thanks is to erase this enormous financial burden ... a cost that was required to fight and win this war."

m.huffpost.com

 

[cbtk18]

Another petition:

Forgive student loan debt for doctors, nurses, and health professionals

Health professionals carry crushing loads of student debt, from tens to hundreds of thousands of dollars. Now they are like soldiers in war, saving lives while risking their own and protecting the rest of us, and many have already died while doing their duty. Without the debt burden more would...

sign.moveon.org

 

[igap]

I think that forgiving medical student debt is pretty dumb. As a physician, with student debt, I find the notion of physician debt forgiveness laughable. Instead of hanging that debt on the taxpayer, how about just using your physician salary to pay off the debt? It's pretty basic, you just pay back what you borrowed. When you borrow money you sign an agreement that commits you to pay back the money at later date. Asking the American tax payer to bail you out after you have accrued the debt is embarrassing. Don't sign those petitions. Just be honorable and pay your debt back.

 

[Modstopizdy]

I think that forgiving medical student debt is pretty dumb. As a physician, with student debt, I find the notion of physician debt forgiveness laughable. Instead of hanging that debt on the taxpayer, how about just using your physician salary to pay off the debt? It's pretty basic, you just pay back what you borrowed. When you borrow money you sign an agreement that commits you to pay back the money at later date. Asking the American tax payer to bail you out after you have accrued the debt is embarrassing. Don't sign those petitions. Just be honorable and pay your debt back.

Yeah but actually nah. I'm putting my health on the line while the rest of the population diddles at home, I want some reward for that. Hell, even if I was diddling at home along with everybody else I'll take the debt relief if I can get it, simple self interest at play here. You're overcomplicating things brah, let's get those monies.

 

[Spikebd]

This country is a dumpster fire so I’d feel no remorse taking advantage of this program.

 

[Spikebd]

I think that forgiving medical student debt is pretty dumb. As a physician, with student debt, I find the notion of physician debt forgiveness laughable. Instead of hanging that debt on the taxpayer, how about just using your physician salary to pay off the debt? It's pretty basic, you just pay back what you borrowed. When you borrow money you sign an agreement that commits you to pay back the money at later date. Asking the American tax payer to bail you out after you have accrued the debt is embarrassing. Don't sign those petitions. Just be honorable and pay your debt back.

Look at this comment and then open up news headlines talking about NBA franchise worth billions getting federal money. Why shouldn’t we clamor for our scraps in this insane collapsing empire?

 

[Modstopizdy]

Look at this comment and then open up news headlines talking about NBA franchise worth billions getting federal money. Why shouldn’t we clamor for our scraps in this insane collapsing empire?

Because it's not "honorable" as the guy said, lmao. If some shyster is trying to play me for a chump by invoking honor, heroism etc I don't like it but I get it, kill or be killed, fool or get fooled. But when dudes who are ostensibly on "my team" go off earnestly talking about how we should abide by extinct notions of honor and responsibility while in reality everyone else abides by merciless dog eat dog struggle for finite resources, it pisses me off. The medical profession is the quintessential example of "can't win with these cats."

 

[thesauce]

Lol. Nice try guys...

No we don’t deserve hundreds of thousands of dollars extra to treat COVID patients. A pandemic is always a possibility when entering the medical field. You had a choice.

 

[thesauce]

Look at this comment and then open up news headlines talking about NBA franchise worth billions getting federal money. Why shouldn’t we clamor for our scraps in this insane collapsing empire?

Yeah - why shouldn’t we do exactly what these people shouldn’t be doing??

 

[igap]

It's pretty simple guys. A debt is a debt. If you borrow money, you pay it back. It's actually more than just an honorable thing to do, it is actually required by law. If you financed your medical school with debt, then you agreed to pay it back by signing the papers. It's just embarrassing the attitude of some of my "teammates" regarding basic financial responsibility. Now that you have your expensive degree that will allow you to earn a very secure multi-6 figure salary for life, you want someone else to pay your debt back??? I agree with Modstopizdy, you all are the epitome of "can't win with these cats".

 

[Spikebd]

It's pretty simple guys. A debt is a debt. If you borrow money, you pay it back. It's actually more than just an honorable thing to do, it is actually required by law. If you financed your medical school with debt, then you agreed to pay it back by signing the papers. It's just embarrassing the attitude of some of my "teammates" regarding basic financial responsibility. Now that you have your expensive degree that will allow you to earn a very secure multi-6 figure salary for life, you want someone else to pay your debt back??? I agree with Modstopizdy, you all are the epitome of "can't win with these cats".

Oh believe me I'm paying mine back. Trust me though, I'll gladly accept the governments offer to erase my debt.
The days of physician as noble and honorable are no longer. We are expendable workers. I’ll be happily playing my role as a cog for either academia or some monstrous health organization.
The point is that the US Empire is done. as we circle the drain politicians will try to desperately save their positions by promising us free things. This includes the death of fee for service and implementation of socialized medicine. I’ll serve in my role to the best of my ability, but I fully understand the systems days are numbered and won’t blindly be taken advantage of as we collapse.

 

[Eilat87]

I think that forgiving medical student debt is pretty dumb. As a physician, with student debt, I find the notion of physician debt forgiveness laughable. Instead of hanging that debt on the taxpayer, how about just using your physician salary to pay off the debt? It's pretty basic, you just pay back what you borrowed. When you borrow money you sign an agreement that commits you to pay back the money at later date. Asking the American tax payer to bail you out after you have accrued the debt is embarrassing. Don't sign those petitions. Just be honorable and pay your debt back.

What if the bill offered to reimburse the student loan payments you had already paid back? Then would you be onboard?

 

[ThoracicGuy]

What if the bill offered to reimburse the student loan payments you had already paid back? Then would you be onboard?

No.

 

[ThoracicGuy]

Dear Friends,

I just signed the petition "Forgive student loan debt for doctors, nurses, and health professionals" and wanted to ask if you could add your name too.

This campaign means a lot to me and the more support we can get behind it, the better chance we have of succeeding. You can read more and sign the petition here:

Forgive student loan debt for doctors, nurses, and health professionals

Health professionals carry crushing loads of student debt, from tens to hundreds of thousands of dollars. Now they are like soldiers in war, saving lives while risking their own and protecting the rest of us, and many have already died while doing their duty. Without the debt burden more would...

sign.moveon.org

Thank you!



P.S. Can you also take a moment to share the petition with others? It's really easy – all you need to do is forward this email or share this link on Facebook or Twitter:

Forgive student loan debt for doctors, nurses, and health professionals

Health professionals carry crushing loads of student debt, from tens to hundreds of thousands of dollars. Now they are like soldiers in war, saving lives while risking their own and protecting the rest of us, and many have already died while doing their duty. Without the debt burden more would...

sign.moveon.org

 

[ThoracicGuy]

^^Oh what a surprise to see thoracic guy here, this dude is literally against anything that would benefit his own profession, from debt relief to adequate PPE for residents lmao. He's the ne plus ultra of why this profession is doomed to forever be taken advantage of until such a day as it becomes no longer useful and is mercifully put out of its misery.

Why should physicians get huge handouts? Where is that money coming from? Other taxpayers are who pays for you. Should I, as a taxpayer, pay for your loan? Should I pay for any schooling loans? I don't think so.

Physicians have the ability to earn well and pay off their loans. They should do so.

 

[Modstopizdy]

Why should physicians get huge handouts? Where is that money coming from? Other taxpayers are who pays for you. Should I, as a taxpayer, pay for your loan? Should I pay for any schooling loans? I don't think so.

Physicians have the ability to earn well and pay off their loans. They should do so.

I absolutely agree with you on the bolded. I'm assuming you're in the position of already having paid off your laons, or maybe never even having to take them out in the first place. Bravo, for you the loan forgiveness has zero benefit and is in fact against your interest as a taxpayer. If this is the case I have nothing against your stance as you're merely acting in your own self interest ie being logical. If I had already spent years paying off my own debt only to be told I'll now be taxed extra to pay off the debt of those who came after me I'd be furious too lol.

What I cannot stand is those who would stand to benefit from loan forgiveness yet nevertheless are against it and make schmaltzy invocations to honor and other such gobbledygook that society has moved past long ago. Even at the height of medieval chivalry, there was no expectation that you had to act honorable towards oathbreakers: honor was a two way street. Well wake up folks, oathbreaking is the societal norm, honor is dead, and playing the role of knight-errant doesn't make you honorable but a fool. The feds, insurance companies, and patients have no problem trying to weasel their way out of paying us any chance they get, so let's look at the world like it is.

 

[deleted480308]

I absolutely agree with you on the bolded. I'm assuming you're in the position of already having paid off your laons, or maybe never even having to take them out in the first place. Bravo, for you the loan forgiveness has zero benefit and is in fact against your interest as a taxpayer. If this is the case I have nothing against your stance as you're merely acting in your own self interest ie being logical. If I had already spent years paying off my own debt only to be told I'll now be taxed extra to pay off the debt of those who came after me I'd be furious too lol.

What I cannot stand is those who would stand to benefit from loan forgiveness yet nevertheless are against it and make schmaltzy invocations to honor and other such gobbledygook that society has moved past long ago. Even at the height of medieval chivalry, there was no expectation that you had to act honorable towards oathbreakers: honor was a two way street. Well wake up folks, oathbreaking is the societal norm, honor is dead, and playing the role of knight-errant doesn't make you honorable but a fool. The feds, insurance companies, and patients have no problem trying to weasel their way out of paying us any chance they get, so let's look at the world like it is.

It’s bad economics

 

[RangerBob]

I absolutely agree with you on the bolded. I'm assuming you're in the position of already having paid off your laons, or maybe never even having to take them out in the first place. Bravo, for you the loan forgiveness has zero benefit and is in fact against your interest as a taxpayer. If this is the case I have nothing against your stance as you're merely acting in your own self interest ie being logical. If I had already spent years paying off my own debt only to be told I'll now be taxed extra to pay off the debt of those who came after me I'd be furious too lol.

What I cannot stand is those who would stand to benefit from loan forgiveness yet nevertheless are against it and make schmaltzy invocations to honor and other such gobbledygook that society has moved past long ago. Even at the height of medieval chivalry, there was no expectation that you had to act honorable towards oathbreakers: honor was a two way street. Well wake up folks, oathbreaking is the societal norm, honor is dead, and playing the role of knight-errant doesn't make you honorable but a fool. The feds, insurance companies, and patients have no problem trying to weasel their way out of paying us any chance they get, so let's look at the world like it is.

I think maybe you are surrounded by the wrong people or working in the wrong environment. Honor has been alive and well everywhere I’ve lived/worked, and I do not regularly run into oath-breakers.

I think loan forgiveness for docs is a terrible idea. I am one of those people you’re referring to who would stand to benefit quite significantly. It’s just bad ethics and bad economics. Even forgiving the entire country’s student loan debt is a moral hazard, but more ethically defensible than forgiving just (typically) high-earning healthcare professionals’ loans.

 

[Spikebd]

I absolutely agree with you on the bolded. I'm assuming you're in the position of already having paid off your laons, or maybe never even having to take them out in the first place. Bravo, for you the loan forgiveness has zero benefit and is in fact against your interest as a taxpayer. If this is the case I have nothing against your stance as you're merely acting in your own self interest ie being logical. If I had already spent years paying off my own debt only to be told I'll now be taxed extra to pay off the debt of those who came after me I'd be furious too lol.

What I cannot stand is those who would stand to benefit from loan forgiveness yet nevertheless are against it and make schmaltzy invocations to honor and other such gobbledygook that society has moved past long ago. Even at the height of medieval chivalry, there was no expectation that you had to act honorable towards oathbreakers: honor was a two way street. Well wake up folks, oathbreaking is the societal norm, honor is dead, and playing the role of knight-errant doesn't make you honorable but a fool. The feds, insurance companies, and patients have no problem trying to weasel their way out of paying us any chance they get, so let's look at the world like it is.

The bolded is why my philosophy towards this nation has changed so much in the past few years. The parasitic class who run staffing companies for EM, Anesthesia, Radiology, Pathology, etc all make millions off our backs. Then when times get rough they crony up to corrupt politicians and bureaucrats who probably would be jailed and executed in more honorable times for their treachery. The bureaucrats then dutifully bail them out.

So yes, we are surrounded by a lot of honorable people in our personal lives. The sad reality is us regular and honorable people doing the dirty work are so often taken advantage of by parasites. The corporate elite sold off our manufacturing overseas, opened the floodgates to unlimited immigration which lowered wages, and pushed for the destruction of traditional family values.

 

[Spikebd]

It’s bad economics

Jubilee (biblical) - Wikipedia

en.wikipedia.org

 

[Spikebd]

If we're going to be force fed Medicare for All, we should ask for all we can during the transition.

 

[ThoracicGuy]

If we're going to be force fed Medicare for All, we should ask for all we can during the transition.

Only if you let Democrats into power...

 

[ThoracicGuy]

I absolutely agree with you on the bolded. I'm assuming you're in the position of already having paid off your laons, or maybe never even having to take them out in the first place. Bravo, for you the loan forgiveness has zero benefit and is in fact against your interest as a taxpayer. If this is the case I have nothing against your stance as you're merely acting in your own self interest ie being logical. If I had already spent years paying off my own debt only to be told I'll now be taxed extra to pay off the debt of those who came after me I'd be furious too lol.

What I cannot stand is those who would stand to benefit from loan forgiveness yet nevertheless are against it and make schmaltzy invocations to honor and other such gobbledygook that society has moved past long ago. Even at the height of medieval chivalry, there was no expectation that you had to act honorable towards oathbreakers: honor was a two way street. Well wake up folks, oathbreaking is the societal norm, honor is dead, and playing the role of knight-errant doesn't make you honorable but a fool. The feds, insurance companies, and patients have no problem trying to weasel their way out of paying us any chance they get, so let's look at the world like it is.

I'm still paying on my loans. It's still a bad idea, just like free college and forgiveness of all student loans.

 

[Spikebd]

To avoid a depression, forgive debts, one economist says - Marketplace

One economist believes hope of avoiding a COVID-19 economic depression lies in full forgiveness of personal debts.

www.marketplace.org

"Hudson: A debt cancellation is needed when debts go beyond the ability to be paid, and all personal debts, all non-business debts, tend to mount up beyond what they can be paid. You have debt-strapped individuals right now who lost their jobs, or their stores have closed down, or they work in restaurants and they’re unable to earn the money to pay. Arrears are rising on student debts [and] on automobile loans, it’s obvious that the debts are growing so large that the only way of paying them is to foreclose on the property, or let them be homeless, or kick them out in the streets. And the reason that the Babylonians and the early Jews cancel the debts was not because they were idealists. They weren’t egalitarians. All the debts have to be canceled by the government. And the government cancels it because it doesn’t want to make the economy fall into austerity. It doesn’t want people to lose their livelihood and become unproductive members of society. The reason your cancel the debts is you want to preserve stability. "

 

[deleted480308]

To avoid a depression, forgive debts, one economist says - Marketplace

One economist believes hope of avoiding a COVID-19 economic depression lies in full forgiveness of personal debts.

www.marketplace.org

"Hudson: A debt cancellation is needed when debts go beyond the ability to be paid, and all personal debts, all non-business debts, tend to mount up beyond what they can be paid. You have debt-strapped individuals right now who lost their jobs, or their stores have closed down, or they work in restaurants and they’re unable to earn the money to pay. Arrears are rising on student debts [and] on automobile loans, it’s obvious that the debts are growing so large that the only way of paying them is to foreclose on the property, or let them be homeless, or kick them out in the streets. And the reason that the Babylonians and the early Jews cancel the debts was not because they were idealists. They weren’t egalitarians. All the debts have to be canceled by the government. And the government cancels it because it doesn’t want to make the economy fall into austerity. It doesn’t want people to lose their livelihood and become unproductive members of society. The reason your cancel the debts is you want to preserve stability. "

That’s not how that works

 

[<L>]

To avoid a depression, forgive debts, one economist says - Marketplace

One economist believes hope of avoiding a COVID-19 economic depression lies in full forgiveness of personal debts.

www.marketplace.org

"Hudson: A debt cancellation is needed when debts go beyond the ability to be paid, and all personal debts, all non-business debts, tend to mount up beyond what they can be paid. You have debt-strapped individuals right now who lost their jobs, or their stores have closed down, or they work in restaurants and they’re unable to earn the money to pay. Arrears are rising on student debts [and] on automobile loans, it’s obvious that the debts are growing so large that the only way of paying them is to foreclose on the property, or let them be homeless, or kick them out in the streets. And the reason that the Babylonians and the early Jews cancel the debts was not because they were idealists. They weren’t egalitarians. All the debts have to be canceled by the government. And the government cancels it because it doesn’t want to make the economy fall into austerity. It doesn’t want people to lose their livelihood and become unproductive members of society. The reason your cancel the debts is you want to preserve stability. "

Yeah, doctor debt isn't exactly contributing to societal risk here, bud.

Petitions/threads like this are always a nice reminder that most physicians are upper class adults who came from upper class childhoods who think that 3-6 years of residency at 55k/year makes them the oppressed proletariat.

 

[Spikebd]

Brancaccio: And I just learned this in preparation for talking with you today, professor, they did a version of a debt jubilee in the years that followed the Second World War in Germany?


Hudson: Yes, that was the economic miracle. And Germany canceled all debts except for the debts that employers owed their employees. And everybody kept a minimum balance. And it was easy for the allies to cancel the German debts in 1948, because most debts were owed to the old Nazis, or the people who had been Nazis, or to banks that were part of the Nazi regime. So the Allies didn’t want to let the creditors, who were the old Nazis, have power over the coming German democracy. So they canceled the debts, and Germany, as a result, its industry and its families were debt free, and that’s what enabled it to recover. And that was the essence of the German economic miracle: the debt cancellation. Right now, America’s economy is strapped. America could have another economic miracle by writing down the debts.

 

[Spikebd]

Terminal Deflation Is Coming

Central banks’ interventions in the pandemic economy are unprecedentedly vast—and not nearly enough.

foreignpolicy.com

"The risk now is not that it is doing too much but too little. Supporting credit markets will not reopen locked down businesses or get unemployed people to buy new cars. No one-off stimulus check will reassure anyone that the lockdown will not extend through the fall, or return once it has been lifted. Demand stimulus through normal fiscal and monetary policy tools—even on an unprecedented scale—are incommensurate to this crisis. People need direct, universal, unconditional income support. Far from generating a sudden hyperinflation, it may be the only way to avoid a deflationary spiral that rivals the Great Depression."

 

[deleted480308]

Brancaccio: And I just learned this in preparation for talking with you today, professor, they did a version of a debt jubilee in the years that followed the Second World War in Germany?


Hudson: Yes, that was the economic miracle. And Germany canceled all debts except for the debts that employers owed their employees. And everybody kept a minimum balance. And it was easy for the allies to cancel the German debts in 1948, because most debts were owed to the old Nazis, or the people who had been Nazis, or to banks that were part of the Nazi regime. So the Allies didn’t want to let the creditors, who were the old Nazis, have power over the coming German democracy. So they canceled the debts, and Germany, as a result, its industry and its families were debt free, and that’s what enabled it to recover. And that was the essence of the German economic miracle: the debt cancellation. Right now, America’s economy is strapped. America could have another economic miracle by writing down the debts.

Who exactly are the nazis in your proposal?

 

[deleted480308]

Terminal Deflation Is Coming

Central banks’ interventions in the pandemic economy are unprecedentedly vast—and not nearly enough.

foreignpolicy.com

"The risk now is not that it is doing too much but too little. Supporting credit markets will not reopen locked down businesses or get unemployed people to buy new cars. No one-off stimulus check will reassure anyone that the lockdown will not extend through the fall, or return once it has been lifted. Demand stimulus through normal fiscal and monetary policy tools—even on an unprecedented scale—are incommensurate to this crisis. People need direct, universal, unconditional income support. Far from generating a sudden hyperinflation, it may be the only way to avoid a deflationary spiral that rivals the Great Depression."

Free money for everyone is a bad idea

 

[deleted480308]

That’s something to look into, isn’t it?

Enlighten us

 

[ThoracicGuy]

Terminal Deflation Is Coming

Central banks’ interventions in the pandemic economy are unprecedentedly vast—and not nearly enough.

foreignpolicy.com

"The risk now is not that it is doing too much but too little. Supporting credit markets will not reopen locked down businesses or get unemployed people to buy new cars. No one-off stimulus check will reassure anyone that the lockdown will not extend through the fall, or return once it has been lifted. Demand stimulus through normal fiscal and monetary policy tools—even on an unprecedented scale—are incommensurate to this crisis. People need direct, universal, unconditional income support. Far from generating a sudden hyperinflation, it may be the only way to avoid a deflationary spiral that rivals the Great Depression."

We do not need a universal income. We do not need to build an even bigger welfare state off the backs of those who are productive. This will also deincentivize some people from working since they get a government handout.

Bad idea and one I hope never comes to be.

 

[<L>]

We do not need a universal income. We do not need to build an even bigger welfare state off the backs of those who are productive. This will also deincentivize some people from working since they get a government handout.

Bad idea and one I hope never comes to be.

Well I'm on team "big safety net" and team "liberal use of stimulus" but even for me bailing out doctor loans is still a waste of public money.

 

[ThoracicGuy]

Well I'm on team "big safety net" and team "liberal use of stimulus" but even for me bailing out doctor loans is still a waste of public money.

A short term stimulus due to this once-in-a-lifetime event is one thing. An ongoing UBI is quite another. I can understand the former, but abhor the latter.

 

[Spikebd]

A short term stimulus due to this once-in-a-lifetime event is one thing. An ongoing UBI is quite another. I can understand the former, but abhor the latter.

These are wild times. I wouldn’t advocate For any physician to base any financial plans on any of these proposals. However, my instinct tells me the student debt issue will only grow worse with time.
COVID is accelerating an already bad situation, that’s for certain.

 

[ThoracicGuy]

These are wild times. I wouldn’t advocate For any physician to base any financial plans on any of these proposals. However, my instinct tells me the student debt issue will only grow worse with time.
COVID is accelerating an already bad situation, that’s for certain.

Increasing loan amounts has led to increasing tuition costs which leads to increasing loan amounts and so on. Universities are looking to maximize their income and this is an easy way to do it.

Ultimately rising tuition costs is really the fault of the government. Now if the government gives free schooling, the universities aren't going to be doing it for free. They'll be sucking off the teat of the government even more than now.

No.

 

[Spikebd]

Increasing loan amounts has led to increasing tuition costs which leads to increasing loan amounts and so on. Universities are looking to maximize their income and this is an easy way to do it.

Ultimately rising tuition costs is really the fault of the government. Now if the government gives free schooling, the universities aren't going to be doing it for free. They'll be sucking off the teat of the government even more than now.

No.

I agree that the .gov created this mess with unlimited financial aid. These universities are totally in on the scam, too.

 

[deleted480308]

These are wild times. I wouldn’t advocate For any physician to base any financial plans on any of these proposals. However, my instinct tells me the student debt issue will only grow worse with time.
COVID is accelerating an already bad situation, that’s for certain.

The way to solve the student loan issue is stop guaranteeing access to them and make them dischargeable going forward. Then banks will stop making dumb loans to people unlikely to pay them back

 

[qwerty89]

The way to solve the student loan issue is stop guaranteeing access to them and make them dischargeable going forward. Then banks will stop making dumb loans to people unlikely to pay them back

I agree.

Problem is that people won't like what that will lead to. Yes it would cause tuition to fall but there would still be some who would be unable to secure the funding to go to school. Someone with a 2.9 GPA from a crappy high school won't be happy to find out that Bank of America won't lend them $200,000 to go to Arizona State University to major in "undeclared". Inevitably there will accusations of sexism, racism, etc. I don't think the public will be OK with that.

Same thing goes to housing policy. If you assume that owning a home is not only the "American Dream" but a "right" well then you have to make sure everyone can get a home. If people with bad credit scores are unable to secure a mortgage well then its up to our noble politicians to "tip-the-scales" to ensure that everyone has "fair" access to housing....and whats the harm in that?...

 

[TAVR4life]

Tuitions at US universities are the highest in the world. Government handed out tax payer subsidized loans like candy to 18 year olds who had no idea what they were signing up for. Universities are in on this racket and drastically increased their tuition as a result leading to record endowments.

The crime isn’t loan forgiveness, it’s tax payer subsdized student loans going to banks and universities who created a rigged system.

 

[radio frequency]

Oh believe me I'm paying mine back. Trust me though, I'll gladly accept the governments offer to erase my debt.
The days of physician as noble and honorable are no longer. We are expendable workers. I’ll be happily playing my role as a cog for either academia or some monstrous health organization.
The point is that the US Empire is done. as we circle the drain politicians will try to desperately save their positions by promising us free things. This includes the death of fee for service and implementation of socialized medicine. I’ll serve in my role to the best of my ability, but I fully understand the systems days are numbered and won’t blindly be taken advantage of as we collapse.

Bro, then don’t worry about it. If the country collapses, your debt won’t matter anymore anyway. You’ll have bigger problems.

 

[southerndoc]

I imagine the income limitations for the stimulus checks will be similar to the student loan forgiveness. Doubt people with incomes >$150k will get any forgiveness.

 

[<L>]

Bro, then don’t worry about it. If the country collapses, your debt won’t matter anymore anyway. You’ll have bigger problems.

People who love to predict the societal collapse of the USA are usually people who aren't well versed in US history.

 

[radio frequency]

People who love to predict the societal collapse of the USA are usually people who aren't well versed in US history.

Isn't that the case usually?!

Off topic here, but I'm super excited to have glanced at spikebd's profile picture, then recognized the molecule. I'm kind of shocked and a little proud that I remembered what vanco looks like!

 

[ThoracicGuy]

Official Proposal: HEROES Act With New $1,200 Stimulus Check and Fixes For CARES Act

Senator Pelosi releases the HEROES Act and a new $1,200 stimulus check.

www.google.com

Day-by-day, Bill-by-Bill, the debt jubilee gets more realistic.

This country had extraordinary issues before COVID-19, and now those issues have accelerated immensely.

This next bill will forgive $10,000 of student loans along with another round of Trump stimulus bucks. It’s very possible the Republicans destroy this program in the Senate, as they only support murderers and billionaire globalists, and don’t care about plebeians.

Pelosi's bill is a handout to liberal causes. It is DOA.

Anyways, Democrats are the ones that are all into murders and globalists these days, don't you know...

 

[Spikebd]

A Jubilee Not to Celebrate: Debt Forgiveness | National Review

Stiffing creditors violates property rights, spikes interest rates, and destabilizes markets.

www.nationalreview.com

This is behind a paywall but you might be entitled to a free article at the site if you don’t visit it often. This article is a defense of the establishment position. He argues in favor of the banks and usurious? lenders. This is a standard belief from the National Review, which is accurately labeled a “NeoCon” publication. The author argues in favor of issuing more debt in order to get out of the crisis. Some people argue that a weakness of the entire fractional reserve system leads to situations we are in now - growing inequality, unpayable debts, and a need for perpetual and unsustainable economic growth. I think that’s why a lot of the establishment enjoys unfettered illegal immigration

 

[kaycee18]

Why should physicians get huge handouts? Where is that money coming from? Other taxpayers are who pays for you. Should I, as a taxpayer, pay for your loan? Should I pay for any schooling loans? I don't think so.

Physicians have the ability to earn well and pay off their loans. They should do so.

the govt is giving out money to families earning up to 150K. It's just fair for healthcare workers to get some benefits too. the interest rate on my loans is too high. So, even reducing the interest rate will provide some relief.