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« Last post by Username on Today at 01:27:54 PM »
Necropost!! Once again FJB is trying to buy votes by "forgiving" student loans. I tried to explain this to my niece. She said that the taxpayer is not involved in any of this. The loan just goes away. I had to patiently explain that the taxpayer is completely involved with this. The money is borrowed from the taxpayer (government) and given to the university through the student. That's the loan. The loan is now "forgiven". The university has the money. The taxpayer (government) paid that money. The taxpayer (government) will not get that money paid back from the student.
That made no sense, so I tried again...
You loan me $1000. Later on, you forgive that loan. Where is the money? I have it. Who lost money on the deal? You did. I no longer have to pay you back that $1000. Why would you forgive that loan? To get something back. So I says, "like votes?"
I then had to explain that the first 80% of the loan's life you're paying only interest and no principle if you make only the minimum payment. This person is supposedly college educated. Dumb as a rock. Yeah, the taxpayers got their money's worth there.