Biden administration to cancel student loan debt for at least 40,000 borrowers. SCOTUS strikes down Biden’s student loan relief plan
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It's quite the opposite. Americans go to the doctor far more often than Canadians do.
In fact, at one point the Canadian government even put out a series of commercials encouraging people not to go to the doctor. Telling them that frequent and unnecessary visits were draining the public health care system.
You would never see something like that in the United States.
Out here I've seen some of the brokest people I've ever met regularly visit the doctor to get treated for ibs, restless leg syndrome, even snapping hip syndrome whatever that is. If you went to a Canadian doctor with these problems they would probably find a professional way to cuss you out and tell you to stop wasting their time.
In fact, knowing I wouldn't have medical insurance for a minute I went to a Canadian doctor for a physical about a month before I moved to the US. Doctor asked me if there was anything specifically wrong I told her no. She rolled her eyes and said "what the hell are you doing in my office then?"
At the time it didn't shock or surprise me because that's just how Canadian doctors are.
And yes, there are certain medical procedures that even low income Canadians get performed in the United States. A big one is ultrasounds because Canadian doctors will almost never tell you the baby's sex.
When my step dad was battling stage 4 lung cancer he needed to see a specialist who needed the test results from a different specialist to begin treatment. The Canadian system book these appointments backwards and there was nothing he could do about it.
So he ended up paying $5,000 out of pocket to see an American specialist just to get his test results ready on time. That appointment probably extended his life for at least another 2 years.
Here's a recent news article that talks about the recent problems with the Canadian medical system. Ask yourself if this would ever be an issue in an American city.
B.C. senior takes out ad in desperate quest to find a doctor for her husband | Globalnews.ca
A Victoria-area couple has gone to extreme lengths to try and find a doctor to fill essential prescriptions in the latest sign of strain on B.C.'s health-care system.
globalnews.ca
It's quite the opposite. Americans go to the doctor far more often than Canadians do.
In fact, at one point the Canadian government even put out a series of commercials encouraging people not to go to the doctor. Telling them that frequent and unnecessary visits were draining the public health care system.
You would never see something like that in the United States.
Out here I've seen some of the brokest people I've ever met regularly visit the doctor to get treated for ibs, restless leg syndrome, even snapping hip syndrome whatever that is. If you went to a Canadian doctor with these problems they would probably find a professional way to cuss you out and tell you to stop wasting their time.
In fact, knowing I wouldn't have medical insurance for a minute I went to a Canadian doctor for a physical about a month before I moved to the US. Doctor asked me if there was anything specifically wrong I told her no. She rolled her eyes and said "what the hell are you doing in my office then?"
At the time it didn't shock or surprise me because that's just how Canadian doctors are.
And yes, there are certain medical procedures that even low income Canadians get performed in the United States. A big one is ultrasounds because Canadian doctors will almost never tell you the baby's sex.
When my step dad was battling stage 4 lung cancer he needed to see a specialist who needed the test results from a different specialist to begin treatment. The Canadian system book these appointments backwards and there was nothing he could do about it.
So he ended up paying $5,000 out of pocket to see an American specialist just to get his test results ready on time. That appointment probably extended his life for at least another 2 years.
Here's a recent news article that talks about the recent problems with the Canadian medical system. Ask yourself if this would ever be an issue in an American city.
B.C. senior takes out ad in desperate quest to find a doctor for her husband | Globalnews.ca
A Victoria-area couple has gone to extreme lengths to try and find a doctor to fill essential prescriptions in the latest sign of strain on B.C.'s health-care system.
Most of what you have said are problems with Canada, not universal health care. Even so, Canada's health care system is more popular amongst Canadians than the US system is amongst Americans. Canadians do go to the doctor more and also have more doctors per capita.
Canada lags behind peers in doctors per capita, but average in physician visits
TORONTO — Canada lags well behind all but the United States among 11 of the wealthiest nations when it comes to the number of doctors per capita, a new report indicates. The analysis by the Commonwealth Fund, a health-care advocacy group, finds Canadians have 2.7 practising physicians per 1,000...
toronto.citynews.ca
There are options for broke people in the US, but those options don't cover everyone. Half of Americans get their health insurance through their employer, meaning if they lose their job like a lot of people did in 2020, they lose their health coverage as well. Not a good thing during a pandemic.
Also republicans are openly hostile to those programs that helped the broke people you know get care. For the people who do get care and pay a non discounted price out of their own pocket, a lot end up in financial trouble. 67% of people who declared bankruptcy cited medical issues as the reason.
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Some Things I Like and Don't Like About Student Loan Forgiveness - A Wealth of Common Sense
Some pros and cons of the new student loan forgiveness plan.
awealthofcommonsense.com
Some Things I Like and Don’t Like About Student Loan Forgiveness
Posted August 28, 2022 by Ben Carlson
One of the worst parts of the polarized nature of society now is many people have predetermined feelings about certain events.
My tribe likes this so I like it too. My tribe hates this so I hate it too.
The responses are becoming predictable.
There’s little room for nuance these days.
The student loan forgiveness plan from the Biden administration is a case in point. People on both sides of this one are unwilling to see there are pros and cons here.
I don’t have strong feelings one way or another on this one but there are things I like and don’t like about the loan forgiveness itself and the discourse around it.
I don’t like how colleges and universities are getting off the hook. Forgiving the loans does nothing to help with the fact that the cost of higher education is out of hand.
The cost of college is up exponentially more than CPI over the past 40+ years.
Forgiving the loans doesn’t solve the root cause of the problem here. If anything, this could make the costs worse going forward.
I wish there would have at least been some language around the potential for future bills to address the rising cost of higher education.
I do like the fact that younger people are finally being helped out by the government. It feels like the government has all but ignored people under 40 for years now in lieu of old people.
Young people these days have much higher costs for essentials across the board — student loans, daycare, healthcare, the high cost of housing — that previous generations simply didn’t have to deal with.
The Department of Education estimates that 65% of borrowers that are eligible for student loan relief are 39 and under.
Older people complain young people don’t get out and vote but maybe it’s because politicians don’t help young people enough.
It’s about time.
I don’t like the fact that the government is still charging high interest rates on student loan debt.
I graduated from college with somewhere in the neighborhood of $20k-$25k in student loans. That was a decent amount back in my day but the interest rate I paid was only 2.5%, making the payments reasonable in relation to the debt load.
In fact, the interest rate was so low that I used the entire 15 year life of the loan to pay it off. There was no reason to pay it off early.
I don’t understand why student loan rates are so much higher now than when I graduated especially when you consider the government is the lender for the majority of these loans.
I’m sticking by my idea from last year that instead of loan forgiveness we should start by canceling the interest on these loans:
The average rate for existing borrowers is 5.8%.
A 5.8% interest rate on $1.6 trillion equates to $93 billion a year in interest payments for those paying back their loans.
The government owns 92% of all student loan debt.
Why does anyone need to make so much money on this debt? The government can effectively borrow at 0% short-term rates right now. Wouldn’t this be a good investment to make for future generations of workers?
The government can no longer borrow at 0% but borrowing rates were higher back when I graduated (2004) than they are now.
Someone is always going to be angry when something like this happens but wouldn’t the cancelation of interest on the debt be a fair compromise?
That way people still pay back what they borrowed but don’t fall behind because the government is charging egregious rates.
I do like the income cap on the forgiveness here. It’s not perfect but this isn’t bad:
The $125k (individual) and $250k (for married couples) income caps do seem high considering those levels of earnings puts you in the 76th and 94th percentile of earners respectively.
My guess is they put the cap that high for the people who live on the coasts who will complain about the high cost of living and how low six-figure incomes don’t go that far.
But it nice there is some form of means testing here.
I don’t like rich old people complaining about young people getting handouts.
Rich old people have been getting tax cuts for decades. They’ve been getting handouts for years.
Give me a break.
I do like the potential psychological benefits this could provide to people who felt like they were stuck.
It’s estimated more than 43 million people will qualify to have some or all of their student loans forgiven.
I can’t back this up with data but I would guess the majority of these 40+ million people will be overjoyed with this news. Many of them will likely experience as much psychological relief as financial relief.
It could allow some people to buy a home sooner than expected. Or start a business. Or stress a little less about money.
You might not agree with how this relief is taking place but it’s OK to be happy for other people even if you’re not personally affected by this.
I don’t like the all-or-nothing nature of the discourse around this topic.
I paid my student loans off and it doesn’t really bother me that others are getting relief.
But I understand why some people are upset about this plan.
Isn’t this a handout?
Why not cancel $10k in debt (credit cards, auto loans, mortgage loans) for everyone who qualifies even if they didn’t go to college?
What about the people who already paid off their student loans?
I also understand why some people are happy about this plan.
Why not throw young people a lifeline?
Why do we expect 18-year-olds to be able to make a decision that could cost them tens or hundreds of thousands of dollars in debt?
Since when is any government program fair?
I can see both sides on this one but it makes sense why this is such a polarizing topic.
I guess we’ll just have to wait a few days until the next crisis du jour comes around so we can all argue about something else.
Most of what you have said are problems with Canada, not universal health care. Even so, Canada's health care system is more popular amongst Canadians than the US system is amongst Americans. Canadians do go to the doctor more and also have more doctors per capita.
Canada lags behind peers in doctors per capita, but average in physician visits
TORONTO — Canada lags well behind all but the United States among 11 of the wealthiest nations when it comes to the number of doctors per capita, a new report indicates. The analysis by the Commonwealth Fund, a health-care advocacy group, finds Canadians have 2.7 practising physicians per 1,000...
There are options for broke people in the US, but those options don't cover everyone. Half of Americans get their health insurance through their employer, meaning if they lose their job like a lot of people did in 2020, they lose their health coverage as well. Not a good thing during a pandemic.
Also republicans are openly hostile to those programs that helped the broke people you know get care. For the people who do get care and pay a non discounted price out of their own pocket, a lot end up in financial trouble. 67% of people who declared bankruptcy cited medical issues as the reason.
I bring up Canada because it's the country I have the most first-hand experience with. If you spent time living in the uk, japan, germany, or any other country with the universal system feel free to make comparisons.
Because these charts lack context.
For instance, the one you just posted shows that the Japanese have far more doctors visits per capita than every other country. Is this because they have better access to medical care, or is it because they have one of the world's oldest populations? Or perhaps they have terrible public health and safety policies which makes Japan's people get sick more often.
Without context it's impossible to tell.
That said, I will admit that the United States medical system is TERRIBLY flawed. It's overpriced, needlessly confusing, and doesn't work well with public health policy.
However, privatize medicine has led to a lot of advancements, created a pool of highly talented doctors, and created one of the highest standards of care in the world.
The bad parts of the system can't be undone overnight and universal health Care will not be the magic bullet everybody thinks it is. It would create a lot of unexpected consequences, including putting millions of black people out of work.
IMO, the best solution would be to have a universal health Care system for minor injuries and illnesses that don't take a lot of training or resources to treat. If you break your arm you can go to any hospital and get patched up for free.
The private health Care system and insurance would be for complicated long-term injuries and illnesses like cancer or HIV.
Money is the reason Americans don't go to the doctor while folks in other high income countries do.
The graphic came from this article.
"It isn’t so much a case of being scared of the doctor, it really boils down to price and trying to save a few extra bucks. Healthcare is outrageously expensive in the United States."
Americans Visit Their Doctor 4 Times A Year. People In Japan Visit 13 Times A Year [infographic]
How often do you pay your doctor a visit? Depending on your nationality, this question can have wildly different answers. On average, an American visits the doctor four times a year, substantially less than in other countries. In Japan, people usually go to their doctor 13 times a year. Why? It...
www.forbes.com
"After losing her job in May 2016, Finley also lost her health insurance coverage and struggled to find a new job. Three months later, Finley was found dead in her apartment after avoiding going to see a doctor for flu-like symptoms."
"Finley is one of millions of Americans who avoid medical treatment due to the costs every year."
"A December 2019 poll conducted by Gallup found 25% of Americans say they or a family member have delayed medical treatment for a serious illness due to the costs of care, and an additional 8% report delaying medical treatment for less serious illnesses."
The Americans dying because they can't afford medical care
Millions of Americans – as many as 25% of the population – are delaying getting medical help because of skyrocketing costs
As far as the impact on Black Americans, if universal health care would ultimately be harmful to us, America would have moved to it long ago. The main reason we don't have it now is that white America does not want us to disproportionately benefit from anything.
Black and Hispanic Americans stand the most to gain from universal health care. We're disproportionately uninsured, we disproportionately work jobs that force us to work while sick, and our life expectancies are lower. If we have to choose between being unemployed or being DEAD, that's an easy choice.
Money is the reason Americans don't go to the doctor while folks in other high income countries do.
The graphic came from this article.
"It isn’t so much a case of being scared of the doctor, it really boils down to price and trying to save a few extra bucks. Healthcare is outrageously expensive in the United States."
Americans Visit Their Doctor 4 Times A Year. People In Japan Visit 13 Times A Year [infographic]
How often do you pay your doctor a visit? Depending on your nationality, this question can have wildly different answers. On average, an American visits the doctor four times a year, substantially less than in other countries. In Japan, people usually go to their doctor 13 times a year. Why? It...
"After losing her job in May 2016, Finley also lost her health insurance coverage and struggled to find a new job. Three months later, Finley was found dead in her apartment after avoiding going to see a doctor for flu-like symptoms."
"Finley is one of millions of Americans who avoid medical treatment due to the costs every year."
"A December 2019 poll conducted by Gallup found 25% of Americans say they or a family member have delayed medical treatment for a serious illness due to the costs of care, and an additional 8% report delaying medical treatment for less serious illnesses."
The Americans dying because they can't afford medical care
Millions of Americans – as many as 25% of the population – are delaying getting medical help because of skyrocketing costswww.theguardian.com
As far as the impact on Black Americans, if universal health care would ultimately be harmful to us, America would have moved to it long ago. The main reason we don't have it now is that white America does not want us to disproportionately benefit from anything.
Black and Hispanic Americans stand the most to gain from universal health care. We're disproportionately uninsured, we disproportionately work jobs that force us to work while sick, and our life expectancies are lower. If we have to choose between being unemployed or being DEAD, that's an easy choice.
Next to retail the medical industry is the second biggest employer of black people around the country. Universal healthcare would close a lot if not all private hospitals and clinics. It's hard to keep your doors open when the entire business model gets turned on its ass overnight.
The government would probably rehire a lot of this staff, but that could take months or years. You're talking about a complete restructuring of a $1 trillion dollar industry.
I was a little dubious about your chart before, but after seeing it was a user survey conducted by Gallup poll I'm a lot less impressed.
Why would they call up a patient who could miscount their visits or be unsure about whether or not a chiropractor counts as a doctor when they could just ask the doctors themselves?
I suspect that the press commissioned the poll in this way so that they could use the patient stories to fit whatever narrative they wanted.
At the end of the day there are a lot of reasons why people avoid the doctor that have nothing to do with money. Maybe it's because they're relatively healthy. Practitioners of alternative medicine. Cultural or religious taboos regarding doctors or medical practices. A young population with a low birth rate. An economy that's not based on injury prone industries, etc.
..as mentioned previously: this is looking like they are just starting to get the ball rolling on more changes to come
Hmmmmmm
How will this loan forgiveness affect Incoming college students?
How will this loan forgiveness affect Incoming college students?
The Not-So-Hidden Reason For Republicans’ Student Loan Anger
Student loan forgiveness was supposed to be a good thing. It would end debt for millions and help families drowning under massive payments. So why are some Republicans so mad?
Dope articleThe Not-So-Hidden Reason For Republicans’ Student Loan Anger
Student loan forgiveness was supposed to be a good thing. It would end debt for millions and help families drowning under massive payments. So why are some Republicans so mad?www.huffpost.com
Yeah this was a damn good article. We still will get the fuck Joe folks to disagree.The Not-So-Hidden Reason For Republicans’ Student Loan Anger
Student loan forgiveness was supposed to be a good thing. It would end debt for millions and help families drowning under massive payments. So why are some Republicans so mad?
Student Loan 'Forgiveness'
This peaked my interest because I don't want my SS being offset with this garbage living overseas. 1. The Lack of Information (Fraud, Inducement) Let say the government issues misleading information to a large portion of the population by claiming the infection rate from AIDS and Monkeypox...
www.bgol.us
I wrote an excellent thread about this, how they only started incorporating racial demographics until 2017, possibly by Betsy Devos under the Trump Administration?
It is hard to push free trade, lost manufacturing, and telling people to go to college as alternative when the default rate is so high. I know President Obama was trying to setup free trade deals, and this might have been why he incorporated an Income Derived Repayment component to student loans to hide this data. At 10% and with a lower income exemption, even the IDR plan caused people to fail this, but President Biden plan dropped it down to 5% with a $31,000 exemption of income up from $20,000.
I don't know how you can overlook race since it can create drastically different realities, and alter my decisions. I used the example of AIDS and monkeypox, the infection is low for the general population but sky high if you are a gay black.
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Fuck Betsy Devos. That bitch was the walking devil.
She wanted to treat student loans as regular loans where they use your credit score to determine your interest rate.
Could you imagine having 100K and an interest rate of like 20% because your credit is fucked up?
I remembered being told the jobs of the future require higher education, don't worry about these jobs going overseas. I have been writing about old black media pushing this garbage when I was young, college scholarships, Different World, Cosby Show. President Trump exposed these clowns, than setup trade policy bringing manufacturing back such as 25% tariffs on EV. We would be driving a cheap Chinese EV car right now coming off a container ship if it wasn't for President Trump. This type of study should have been done under the Obama administration but if you are pushing TPP, it would not align with your objective.
He saw what he was doing with the Income Derived Repayment plans and outed him quietly. No wonder his house is getting raided.
2017
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America is going to have to decide whether it wants to continue to be a 1st world country or whether it wants to sank to the bottom. If it wants to continue to be a 1st world country as I see it 2 things are going to have to happen. One people are going to have to start being paid living wages and that means McDonald's workers and janitors whatever all of those people provide a necessary service. Two if you want an educated work force the government is going to have to foot the bill. Its going to come a time when muthafuckas won't be taking out these outrageous loans with little to no return on investment.
I would be careful reviving an old loan, after having debt forgiveness applied. They may encourage you to consolidate under the new program with an IDR scheme that is now available. The minute you do this, interest starts being applied to the loan balance again. Those IDR take 20 years to finish out, you are better off saving up the funds to pay it off at once at a future date.
If the debt forgiveness leaves you with a small balance, you might consider it, but if you are look at it taking your balance down from $100,000 to $80,000 than don't do it. An IDR will take 20 years, so you have to factor in your age.
Interest is not accruing when it is in default status, I believe. Believing you can resume payments to finish out the remaining part of the loan is foolhardy. You will pile up more interest costs and it will hit your credit report for another seven years if you redefault. I would discuss debt settlement with your servicer and other options.
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It looks like interest was set to 0% during the student loan pause triggered by COVID-19. Consolidating your loan and getting an IDR may be a good option if your income is low.
Under the old plan of 10%, with a lower non discretionary income protected from repayment this might not be the case. President Biden is knocking this down to 5% which is in the ballpark, plus you will get your tax refunds.
If you use Fresh Start, your loan will not be reported to the credit bureaus if you redefault again. With all these financial experts with Youtube channels, they need to dig into this. I should start one providing guidance to student loan borrowers with my extensive knowledge and more research.
Under the old plan of 10%, with a lower non discretionary income protected from repayment this might not be the case. President Biden is knocking this down to 5% which is in the ballpark, plus you will get your tax refunds.
If you use Fresh Start, your loan will not be reported to the credit bureaus if you redefault again. With all these financial experts with Youtube channels, they need to dig into this. I should start one providing guidance to student loan borrowers with my extensive knowledge and more research.
I would be careful reviving an old loan, after having debt forgiveness applied. They may encourage you to consolidate under the new program with an IDR scheme that is now available. The minute you do this, interest starts being applied to the loan balance again. Those IDR take 20 years to finish out, you are better off saving up the funds to pay it off at once at a future date.
If the debt forgiveness leaves you with a small balance, you might consider it, but if you are look at it taking your balance down from $100,000 to $80,000 than don't do it. An IDR will take 20 years, so you have to factor in your age.
Interest is not accruing when it is in default status, I believe. Believing you can resume payments to finish out the remaining part of the loan is foolhardy. You will pile up more interest costs and it will hit your credit report for another seven years if you redefault. I would discuss debt settlement with your servicer and other options.
Currently (before the Covid pause) interest was accruing.....The plan Biden implemented would stop the interest from accruing if you make payments...Also, the 10% has been reduced to 5% under his new plan....
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It looks like interest was set to 0% during the student loan pause triggered by COVID-19. Consolidating your loan and getting an IDR may be a good option if your income is low.
Under the old plan of 10%, with a lower non discretionary income protected from repayment this might not be the case. President Biden is knocking this down to 5% which is in the ballpark, plus you will get your tax refunds.
If you use Fresh Start, your loan will not be reported to the credit bureaus if you redefault again. With all these financial experts with Youtube channels, they need to dig into this. I should start one providing guidance to student loan borrowers with my extensive knowledge and more research.
We can do the shit together.. I been following this shit since 2011 and when I opted into PSLF in 2014...Loans wiped out January 2022...
He said the quiet part out loud and you really just have to love it.
2017
I am just wondering what administration conducted this study. It looks like they were doing statistical sampling and went hardcore in 2017. College is AIDS and the gay community is us being infected at over 50%. A year or a year and a half could have easily been done under President Trump.
It can't just be all me - I am catching heat and have other things I am doing, this is the type of game you need to watch out for, otherwise you will lose big time such as my generation.
I had a youngling come up to grateful for all that I have done over the years, mass incarceration, student loans, jobs, and many other things. They were telling me they have hope now and feel their future is brighter. There is no one else like you, you are unique.
I am just wondering what administration conducted this study. It looks like they were doing statistical sampling and went hardcore in 2017. College is AIDS and the gay community is us being infected at over 50%. A year or a year and a half could have easily been done under President Trump.
It can't just be all me - I am catching heat and have other things I am doing, this is the type of game you need to watch out for, otherwise you will lose big time such as my generation.
I had a youngling come up to grateful for all that I have done over the years, mass incarceration, student loans, jobs, and many other things. They were telling me they have hope now and feel their future is brighter. There is no one else like you, you are unique.
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Love this. Yeah any payments made after March 2020 the Feds will cut you a check. That’s impressive she paid almost 50K off.
All those people that the GOP are trying to fuck over on student loans will get their revenge during midterms. The GOP has pissed off so many different groups of people trying to get revenge for 45 that they have basically tanked the midterms hopes.
Raw
Republicans have no leader right now because this is a horrible idea but as a Democrat……go ahead Republicans be my guess
The Republicans gave away all that damn money around $2 trillion to the rich and corporations with the trumps tax cut a few years ago….man this is not looking good for them.
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