Anonymous B joined in and replied with this 6 years ago, 5 minutes later[^][v]#1,104,033
It has no chance. The Republican-controlled Senate will nix it within 5 minutes.
Fake anon !ZkUt8arUCU joined in and replied with this 6 years ago, 25 minutes later, 30 minutes after the original post[^][v]#1,104,044
@previous (B)
In a Biden administration though...???
@OP
Neat, that should clear up a couple hundred a month for me to save. If I hadn't had to pay $350/mo for the past 7 years I'd be a lot richer! Can't undo that but can always start saving.
chill dog !!81dzJNNYL (OP) replied with this 6 years ago, 4 minutes later, 35 minutes after the original post[^][v]#1,104,048
@previous (Fake anon !ZkUt8arUCU)
Jesus, that's almost as much as my rent+utilities. I'm amazed you did that.
Anonymous D joined in and replied with this 6 years ago, 28 minutes later, 1 hour after the original post[^][v]#1,104,059
I will be debt free, if it passes. Well, like 90% debt free.
chill dog !!81dzJNNYL (OP) replied with this 6 years ago, 29 seconds later, 1 hour after the original post[^][v]#1,104,060
Fake anon !ZkUt8arUCU replied with this 6 years ago, 4 minutes later, 1 hour after the original post[^][v]#1,104,065
@1,104,048 (chill dog !!81dzJNNYL)
Nothing you can't do if you put your mind to it and are really cheap and don't spend money on dates by being single!
tteh !MemesToDNA joined in and replied with this 6 years ago, 10 minutes later, 1 hour after the original post[^][v]#1,104,078
@previous (Fake anon !ZkUt8arUCU)
You need a vice. It'll give you character, and absorb some of your excess funds. May I suggest alcoholism?
Anonymous F joined in and replied with this 6 years ago, 3 minutes later, 1 hour after the original post[^][v]#1,104,082
Democrats won't even pass the stimulus bill. Republicans will retaliate by not passing this.
Fake anon !ZkUt8arUCU replied with this 6 years ago, 3 minutes later, 1 hour after the original post[^][v]#1,104,085
@1,104,078 (tteh !MemesToDNA)
I'll drink for social purposes or do the marijuanas if it'll help me get laid but at the end of the day those things are just not that enjoyable to me. Maybe I'm just a square idk.
Meta !Sober//iZs joined in and replied with this 6 years ago, 2 minutes later, 1 hour after the original post[^][v]#1,104,086
Could you imagine being the ni??a who just finished paying off the last of his $30,000 student loan when this passes ??
Meta !Sober//iZs double-posted this 6 years ago, 1 minute later, 1 hour after the original post[^][v]#1,104,087
Also people are gonna shit themselves when they get the 1099-C in the mail and go to file their taxes... ?
Kook !!rcSrAtaAC joined in and replied with this 6 years ago, 4 minutes later, 1 hour after the original post[^][v]#1,104,093
Anonymous I joined in and replied with this 6 years ago, 12 minutes later, 2 hours after the original post[^][v]#1,104,127
This proposal is just part of the Dem Green Deal.
What fucking big help is it in the scope of this current crises? It amounts to shit except for vote buying for the election.
Meta !Sober//iZs replied with this 6 years ago, 18 seconds later, 2 hours after the original post[^][v]#1,104,128
@1,104,116 (chill dog !!81dzJNNYL)
When a debt is cancelled/written off, you get a form for your taxes called a 1099-C (one of several different form 1099s that are used to report income outside of a regular, permanent, job).
So let's say you owe the bank $30,000 and the bank decides to write it off (collections were unsuccessful, maybe out of charity, whatever). The bank will cancel your debt and then send you a form 1099-C telling you they discharged $30,000 of debt that you owed, but now do not owe. That $30,000 is now taxable income for tax purposes, and you have to pay tax on it the same as if you got a $30,000 bonus at work. Depending on what bracket you're in, that could be 10% or 15% or whatever of that $30k is now owed in taxes.
The reasoning behind this is that you are now $30k richer by having the $30k written off. The bank needs to file the 1099-C to take that $30k as a loss for their own tax return. So when they file a 1099-C they're basically saying to the IRS "hey we discharged this dude's debt so we're gonna show a $30k loss on that loan" and the IRS says "okay cool thanks" and then goes to collect the tax from the guy who got the debt write-off instead of the bank.
(Edited 4 minutes later.)
Anonymous I replied with this 6 years ago, 2 minutes later, 2 hours after the original post[^][v]#1,104,130
You asked for a loan, so pay the damn loan.
I guess Matt is your role model now about the Reid thing.
(Edited 20 seconds later.)
Anonymous I double-posted this 6 years ago, 2 minutes later, 2 hours after the original post[^][v]#1,104,132
@1,104,128 (Meta !Sober//iZs)
They're still getting off very easy by not being honorable and paying what they begged for.
chill dog !!81dzJNNYL (OP) replied with this 6 years ago, 7 minutes later, 2 hours after the original post[^][v]#1,104,136
@1,104,127 (I)
People have minimum payments of hundreds of dollars a month. You're asking what difference it would make?
Anonymous I replied with this 6 years ago, 3 minutes later, 2 hours after the original post[^][v]#1,104,137
@previous (chill dog !!81dzJNNYL)
I would totally favor suspending payments that high for a year.
Anonymous I double-posted this 6 years ago, 6 minutes later, 2 hours after the original post[^][v]#1,104,139
@1,104,136 (chill dog !!81dzJNNYL)
Ok...look... I had no idea the payments on those average like $280 a month.
By all means that shit should be immediately put on hold for people in an economic crises, yes.
But to cancel a $25,000 loan because shit got tight for six months, No.
Anonymous I triple-posted this 6 years ago, 2 minutes later, 2 hours after the original post[^][v]#1,104,141
@1,104,136 (chill dog !!81dzJNNYL)
I dont think you have anywhere near that big of a payment though but I'd just guessing.
(Edited 1 minute later.)
chill dog !!81dzJNNYL (OP) replied with this 6 years ago, 5 minutes later, 2 hours after the original post[^][v]#1,104,146
@1,104,137 (I)
The economy won't recover quickly. People will be tight on cash for a long time. And tuition is insanely high in the US. Nowhere else charges so much for post secondary education. It's extortionate to be frank, especially considering it was free only a few decades ago, and until relatively recently it was possible to graduate without any debt from working part time during the school year and full time during the summer.
@previous (I)
Of course not, $50/month. I also only had like $15k in loans total because I'm not american and the cost of education here is reasonable.
(Edited 28 seconds later.)
Meta !Sober//iZs replied with this 6 years ago, 1 minute later, 2 hours after the original post[^][v]#1,104,148
@previous (chill dog !!81dzJNNYL)
Do you do anything other than bash America all day? ?
We get it: you hate our country.
Anonymous I replied with this 6 years ago, 2 minutes later, 2 hours after the original post[^][v]#1,104,149
@1,104,146 (chill dog !!81dzJNNYL)
Did the government come to people's houses and negotiate them to take a loan...or did people ask the government for a loan?
Should peoples mortgages be forgiven right now? Their car payments?
chill dog !!81dzJNNYL (OP) replied with this 6 years ago, 3 minutes later, 2 hours after the original post[^][v]#1,104,152
@1,104,148 (Meta !Sober//iZs)
I've been watching tv haha. Think im gonna maybe practice playing music later.
I don't hate the us, why would i? I'm pointing out the flaws i see.
@previous (I)
Prices havent inflated on those things anywhere close to tuition.
Anonymous I replied with this 6 years ago, 30 seconds later, 2 hours after the original post[^][v]#1,104,153
@1,104,148 (Meta !Sober//iZs)
I guarantee you if I posted about Canada all day...damn near every day...or rather if another U.S. poster did...(cause she is of course biased against me) shed definitely be up in their ass saying they were being fucked up.
Anonymous I double-posted this 6 years ago, 3 minutes later, 2 hours after the original post[^][v]#1,104,155
@1,104,152 (chill dog !!81dzJNNYL)
People have $400 car payments and $3000 mortgage payments each month.
How can they make it through this if someone can't pay $280 ?
chill dog !!81dzJNNYL (OP) replied with this 6 years ago, 16 minutes later, 3 hours after the original post[^][v]#1,104,162
@previous (I)
Those people tend to make a lot more money than recent graduates. If they don't and they have those kinds of expenses they're horrifically irresponsible. It's weird to me that you're equating these two very different groups of people. My rent and utilities is $400/month. Fake anon has been making student loan payments of $350/month for seven years and he still has like $30k of student debt. That's ridiculous.
(Edited 1 minute later.)
Fake anon !ZkUt8arUCU replied with this 6 years ago, 25 minutes later, 3 hours after the original post[^][v]#1,104,173
@1,104,155 (I)
People with mortgages do not generally often have student loans, and if they do, they are earning enough to have been able to purchase a home with several hundred thousand dollars as down payment. No one with a $3000/month mortgage is also existentially frightened about a $300 bill because they have another bill 10x that size to pay anyway. You'd have to be earning well in excess of $60k/yr post-tax to afford $36,000/year payments The car payment thing is true, but what people are concerned about is having to pay both. It's not like people have a car payment or a loan, or rent. They have all 3 and other expenses to boot. I'd totally be in favor of a temporary pause/some flexibility on car payments and rent as well. Because a huge number of college loans are given out or guaranteed by the government, they can actually do something about those more easily than writing a bill to deal with landlords and car dealers etc. I don't think that because we can't do everything, we should do nothing. Especially in times of crisis like this.
Anonymous I replied with this 6 years ago, 5 minutes later, 3 hours after the original post[^][v]#1,104,175
Fake anon !ZkUt8arUCU replied with this 6 years ago, 2 minutes later, 3 hours after the original post[^][v]#1,104,176
@1,104,162 (chill dog !!81dzJNNYL)
Well $350/mo is the minimum. I try to pay more than the minimum whenever possible so my average payment is probably somewhere in the $4-500/month range. I had a 6 month grace period when I graduated where no payments were due and no interest accrued so I could have a job and some built up income first. So it's been closer to 6 years. 72 months at say $450/month means I've paid about $32k in monthly loan payments on about $55k debt (plus 4.5% interest). I also got a one time check for a couple thousand dollars from a family member's estate after they died which I used to pay off a smaller student loan in full because I hated checking multiple sites and I wasn't gonna be able to build up a lot of savings anyway. So in total in my first 6 years of working, not earning an insane amount of money, I've used somewhere around 75% all of my disposable income paying for college. I'm in better shape than a lot of my peers as a result but even knocking $10k off my bill would let me see a future in which I am debt free for the first time in over 10 years. I don't expect that to actually happen. I'll pay the rest of this off eventually, but the sooner I stop paying $450/month to Aunt Sallie, the sooner I can actually buy things and contribute to the overall economic system meaningfully.
(Edited 2 minutes later.)
Anonymous I replied with this 6 years ago, 25 seconds later, 3 hours after the original post[^][v]#1,104,178
Anonymous I double-posted this 6 years ago, 5 minutes later, 3 hours after the original post[^][v]#1,104,182
@1,104,176 (Fake anon !ZkUt8arUCU)
So your loan was twice the average in the country. That's a lot.
chill dog !!81dzJNNYL (OP) replied with this 6 years ago, 37 seconds later, 3 hours after the original post[^][v]#1,104,183
@1,104,176 (Fake anon !ZkUt8arUCU)
Well that's it. If people aren't tied to these obscene loans that are probably unpayable for many people during this crisis, they're more able to contribute to the economy. And right now the economy can use all the stimulating it can get.
I actually have to call my bank tomorrow, i think they've fucked up my loan payments. Im dreading that.
Fake anon !ZkUt8arUCU replied with this 6 years ago, 13 minutes later, 4 hours after the original post[^][v]#1,104,188
@1,104,182 (I)
Yup but I got effectively a 50% scholarship at a school that I thought was out of my academic league. I wasn't going to NOT go. It's a decision you make 10/10 times and then deal with the consequences later. @previous (chill dog !!81dzJNNYL)
Yup. Now there is truth in that federal dollars are limited. Every dollar that goes towards ending student loans is a dollar that doesn't go towards some other project that you could argue is more worthy. I am just one complainer in a country full of them. But I try to be pretty realistic about what I see as the major issues affecting me and what the opportunity costs are. If we are going to do tax cuts for wealthy people financed exclusively by deficit spending, then I think students should get some deficit spending love too! I don't think that's too much to ask.
Anonymous J joined in and replied with this 6 years ago, 4 hours later, 8 hours after the original post[^][v]#1,104,285
@previous (Fake anon !ZkUt8arUCU)
You went to NYU iirc?
Erik !jzYkdX7lIw joined in and replied with this 6 years ago, 6 minutes later, 9 hours after the original post[^][v]#1,104,290