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Why can't you pay student loans with pre-tax dollars?

Australia does this AFAIK. Why the fuck can't we?
fishy alcoholic national
  10/20/17
Australia DOES NOT do this. Loans to students by the gove...
adulterous main people
  10/20/17
there should be little in the way of government support for ...
Costumed sable resort
  10/20/17
get your fucking pea-brained libertarian horseshit out of my...
fishy alcoholic national
  10/20/17
lol? They’re subsidizing the entire education system, includ...
Slimy Abode
  10/20/17
7.5% interest, they're not subsidizing anything, brother.
fishy alcoholic national
  10/20/17
No one else would give these kids loans. What I should say i...
Slimy Abode
  10/20/17
"Point is, it’s not the place to just inject free marke...
fishy alcoholic national
  10/20/17
They are distorting the market by guaranteeing the loans.......
Sienna bawdyhouse
  10/20/17
And yet they still turn a profit at the current rates.
fishy alcoholic national
  10/20/17
Nah bro https://www.forbes.com/sites/prestoncooper2/2017...
Sienna bawdyhouse
  10/20/17
"Under FCRA accounting procedures, the federal student ...
fishy alcoholic national
  10/20/17
Yup not like the government's accounting might be misleading...
Sienna bawdyhouse
  10/20/17
DoE says 40%+ of borrowers behind on payments
Slimy Abode
  10/20/17
Yup not like the government might have actual reasons for us...
fishy alcoholic national
  10/20/17
lol https://blogs.wsj.com/economics/2018/02/13/the-studen...
hairraiser light newt
  02/14/18
Do you SERIOUSLY think those student loans are getting paid ...
passionate elite den
  10/20/17
No bank is giving an 18 yo with no assets $50k a year in loa...
Slimy Abode
  10/20/17
But it's PROFITABLE. Also, government intervention should...
Sienna bawdyhouse
  10/20/17
If SBA loans can be discharged (which is the case), then stu...
lavender rehab dog poop
  10/20/17
Private loans existed even when bankruptcy was available.
lavender rehab dog poop
  10/20/17
They turn a fucking profit. LOL indeed.
Concupiscible Snowy Selfie
  10/20/17
i know, it's ridiculous. im all for funding a solid, low-...
Costumed sable resort
  10/20/17
from a policy perspective it makes basically no sense to for...
Galvanic Party Of The First Part
  02/14/18
because the government wants to get paid twice
Wonderful Menage Patrolman
  10/20/17
ding ding ding! we suck
fishy alcoholic national
  10/20/17
It’s obvious. This is why big government Libs are retarded
Slimy Abode
  10/20/17
Don't think this is a partisan issue. This is a fuck boomers...
fishy alcoholic national
  10/20/17
Correct.
Concupiscible Snowy Selfie
  10/20/17
It’s a people voting for higher taxes and big gov issue
Slimy Abode
  10/20/17
...
fishy alcoholic national
  10/20/17
...
fishy alcoholic national
  10/20/17
because of (((them)))
Dashing nursing home faggot firefighter
  10/20/17
Um should education be tax deductible for everyone then?
Sienna bawdyhouse
  10/20/17
Sure, why not? If you cite a revenue shortfall, I'll tell yo...
fishy alcoholic national
  10/20/17
Ok. I just think that must be a part of your argument. Oth...
Sienna bawdyhouse
  10/20/17
True. It's sensible public policy.
fishy alcoholic national
  10/20/17
I don't really see the point though. The $$ would need to b...
Sienna bawdyhouse
  10/20/17
We already do that. Cost and changing the culture of America...
fishy alcoholic national
  10/20/17
But it doesn't just address loan repayment. It must address...
Sienna bawdyhouse
  10/20/17
"You won't recognize/admit that a huge part of the prob...
fishy alcoholic national
  10/20/17
Education should be treated like other investments. Inter...
lavender rehab dog poop
  10/20/17
"We really don't need to be encouraging more people to ...
lavender rehab dog poop
  10/20/17
Paying with pretax income will drive up the cost.
passionate elite den
  10/20/17
Lol at subsidizing "college education" which is no...
adventurous theatre double fault
  10/20/17
18000000000
Sienna bawdyhouse
  10/20/17
...
Slimy Abode
  10/20/17
...
Dashing nursing home faggot firefighter
  10/20/17
...
topaz knife
  10/20/17
...
Jet market famous landscape painting
  02/14/18
b/c that would deprive the federal government of billions of...
topaz knife
  10/20/17
It should be deductible as a business expense, and there's n...
lavender rehab dog poop
  10/20/17
It's a flimsy capital/revenue distinction I agree. It's rea...
adulterous main people
  10/20/17
That’s the best reason to do it. The federal budget is what ...
French Stag Film Chad
  02/14/18
Like an HSA?
pea-brained lemon juggernaut
  10/20/17
Because retarded out of touch boomers who make the laws paid...
know-it-all seedy field indirect expression
  02/14/18
lol at subsidizing this shit and driving up tuition prices e...
Ocher razzle public bath wrinkle
  02/14/18
College should be treated like other business investments. ...
lavender rehab dog poop
  02/14/18
pay your loans, faggot. you don't need subsidies unless you ...
Jet market famous landscape painting
  02/14/18


Poast new message in this thread



Reply Favorite

Date: October 20th, 2017 3:41 PM
Author: fishy alcoholic national

Australia does this AFAIK. Why the fuck can't we?

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34488926)



Reply Favorite

Date: October 20th, 2017 9:01 PM
Author: adulterous main people

Australia DOES NOT do this.

Loans to students by the government (called HELP loans) are paid back by a levy on your taxable income that only kicks in once you reach a certain income level.

So for example, someone earning A$55,000 pays an extra 4% levy on their taxable income with that 4% reducing their HELP loan balance.

This means the repayment is coming out of post-tax income: its income you would otherwise have received but which instead goes to the government.

If you take out private loans to fund further study then the interest MAY be tax deductible if the purpose of the study is to improve your earning prospects in your current field of work. If its to train for an entirely new field its not deductible.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34491153)



Reply Favorite

Date: October 20th, 2017 3:42 PM
Author: Costumed sable resort

there should be little in the way of government support for student loans

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34488938)



Reply Favorite

Date: October 20th, 2017 3:44 PM
Author: fishy alcoholic national

get your fucking pea-brained libertarian horseshit out of my thread.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34488964)



Reply Favorite

Date: October 20th, 2017 4:15 PM
Author: Slimy Abode

lol? They’re subsidizing the entire education system, including the loans.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489201)



Reply Favorite

Date: October 20th, 2017 4:17 PM
Author: fishy alcoholic national

7.5% interest, they're not subsidizing anything, brother.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489222)



Reply Favorite

Date: October 20th, 2017 4:19 PM
Author: Slimy Abode

No one else would give these kids loans. What I should say is that they’re “distorting” the market place. Point is, it’s not the place to just inject free market principles into higher ed

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489233)



Reply Favorite

Date: October 20th, 2017 4:30 PM
Author: fishy alcoholic national

"Point is, it’s not the place to just inject free market principles into higher ed"

Public universities should be free or nearly free as they are in many civilized nations. The federal government isn't "distorting" the market, it is applying a band-aid to the problem of state legislatures continually raising the cost of higher education beyond what most ordinary citizens can afford. The main purpose of universities should be to prepare citizens to compete in the economy, not for absurd amenities, residences, sports, etc.

And it's insult to injury that the federal government itself preys on students too with the policies mentioned ITT.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489342)



Reply Favorite

Date: October 20th, 2017 4:32 PM
Author: Sienna bawdyhouse

They are distorting the market by guaranteeing the loans....

The loans would NOT be given at the 7.5% or whatever rates if not for fed government

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489356)



Reply Favorite

Date: October 20th, 2017 4:33 PM
Author: fishy alcoholic national

And yet they still turn a profit at the current rates.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489368)



Reply Favorite

Date: October 20th, 2017 4:36 PM
Author: Sienna bawdyhouse

Nah bro

https://www.forbes.com/sites/prestoncooper2/2017/08/04/why-government-doesnt-profit-from-student-loans/#67a8ba49eb63

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489385)



Reply Favorite

Date: October 20th, 2017 4:46 PM
Author: fishy alcoholic national

"Under FCRA accounting procedures, the federal student loan program will turn a small profit of $28 billion over the coming decade, according to CBO. But using fair-value accounting, which incorporates the full market risk of the loans, taxpayers will lose a whopping $183 billion over the same time period."

Just do apply a one-time exception to government accounting standards to suit your argument.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489482)



Reply Favorite

Date: October 20th, 2017 4:49 PM
Author: Sienna bawdyhouse

Yup not like the government's accounting might be misleading!

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489503)



Reply Favorite

Date: October 20th, 2017 4:50 PM
Author: Slimy Abode

DoE says 40%+ of borrowers behind on payments

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489513)



Reply Favorite

Date: October 20th, 2017 4:52 PM
Author: fishy alcoholic national

Yup not like the government might have actual reasons for using different accounting standards than Acme, Inc!

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489526)



Reply Favorite

Date: February 14th, 2018 1:05 PM
Author: hairraiser light newt

lol

https://blogs.wsj.com/economics/2018/02/13/the-student-loan-problem-that-wont-go-away/

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#35401516)



Reply Favorite

Date: October 20th, 2017 5:08 PM
Author: passionate elite den

Do you SERIOUSLY think those student loans are getting paid back? They won’t profit in the long run.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489648)



Reply Favorite

Date: October 20th, 2017 4:48 PM
Author: Slimy Abode

No bank is giving an 18 yo with no assets $50k a year in loans to study art history without some government intervention

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489500)



Reply Favorite

Date: October 20th, 2017 4:49 PM
Author: Sienna bawdyhouse

But it's PROFITABLE.

Also, government intervention should include no bankruptcy availability

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489505)



Reply Favorite

Date: October 20th, 2017 9:34 PM
Author: lavender rehab dog poop

If SBA loans can be discharged (which is the case), then student loans should be dischargeable.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34491373)



Reply Favorite

Date: October 20th, 2017 9:32 PM
Author: lavender rehab dog poop

Private loans existed even when bankruptcy was available.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34491362)



Reply Favorite

Date: October 20th, 2017 4:19 PM
Author: Concupiscible Snowy Selfie

They turn a fucking profit. LOL indeed.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489236)



Reply Favorite

Date: October 20th, 2017 4:38 PM
Author: Costumed sable resort

i know, it's ridiculous.

im all for funding a solid, low-cost public system of community colleges, trade schools and state universities and little in the way of loan guarantees. it's absurd that dumbasses can take out 5- or 6-figure loans to pay for bullshit art degrees.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489407)



Reply Favorite

Date: February 14th, 2018 1:13 PM
Author: Galvanic Party Of The First Part

from a policy perspective it makes basically no sense to forego tax revenue to alleviate the strain of paying student loans. it would be a handout to the middle class and continue to encourage people to take on unreasonable student loan debt.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#35401572)



Reply Favorite

Date: October 20th, 2017 3:43 PM
Author: Wonderful Menage Patrolman

because the government wants to get paid twice



(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34488943)



Reply Favorite

Date: October 20th, 2017 3:45 PM
Author: fishy alcoholic national

ding ding ding! we suck

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34488968)



Reply Favorite

Date: October 20th, 2017 4:16 PM
Author: Slimy Abode

It’s obvious. This is why big government Libs are retarded

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489207)



Reply Favorite

Date: October 20th, 2017 4:18 PM
Author: fishy alcoholic national

Don't think this is a partisan issue. This is a fuck boomers of either party issue.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489228)



Reply Favorite

Date: October 20th, 2017 4:20 PM
Author: Concupiscible Snowy Selfie

Correct.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489241)



Reply Favorite

Date: October 20th, 2017 4:22 PM
Author: Slimy Abode

It’s a people voting for higher taxes and big gov issue

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489255)



Reply Favorite

Date: October 20th, 2017 3:49 PM
Author: fishy alcoholic national



(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489014)



Reply Favorite

Date: October 20th, 2017 4:14 PM
Author: fishy alcoholic national



(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489196)



Reply Favorite

Date: October 20th, 2017 4:15 PM
Author: Dashing nursing home faggot firefighter

because of (((them)))

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489203)



Reply Favorite

Date: October 20th, 2017 4:31 PM
Author: Sienna bawdyhouse

Um should education be tax deductible for everyone then?

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489346)



Reply Favorite

Date: October 20th, 2017 4:32 PM
Author: fishy alcoholic national

Sure, why not? If you cite a revenue shortfall, I'll tell you that maybe we should worry about that at the cost of attendance level.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489357)



Reply Favorite

Date: October 20th, 2017 4:33 PM
Author: Sienna bawdyhouse

Ok. I just think that must be a part of your argument. Otherwise everyone would just get loans instead of paying up front.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489365)



Reply Favorite

Date: October 20th, 2017 4:34 PM
Author: fishy alcoholic national

True. It's sensible public policy.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489373)



Reply Favorite

Date: October 20th, 2017 4:35 PM
Author: Sienna bawdyhouse

I don't really see the point though. The $$ would need to be made up from something else. We really don't need to be encouraging more people to waste tens of thousands of $$$ on pointless education.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489382)



Reply Favorite

Date: October 20th, 2017 4:42 PM
Author: fishy alcoholic national

We already do that. Cost and changing the culture of American higher education are far more intractable problems.

This addresses loan repayment. Default rates continue to rise and student loans are the biggest form of consumer debt. This would encourage repayment and lower defaults.



(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489435)



Reply Favorite

Date: October 20th, 2017 4:51 PM
Author: Sienna bawdyhouse

But it doesn't just address loan repayment. It must address education cost as a whole or else the policy has a YUGE flaw in it (people not paying for education up front).

What they should do is allow the loans to be dischargeable in bankruptcy. LOL at any loans being given out then.

You won't recognize/admit that a huge part of the problem is that we don't need to be sending every kid to 4 years of partying/studying dumb shit for 10s of thousands of dollars a year.

Until you recognize that, your analysis of it is misguided and not worth listening to.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489519)



Reply Favorite

Date: October 20th, 2017 5:00 PM
Author: fishy alcoholic national

"You won't recognize/admit that a huge part of the problem is that we don't need to be sending every kid to 4 years of partying/studying dumb shit for 10s of thousands of dollars a year."

I not only recognize this, I agree completely. Like I said, cost and culture are separate issues and can't be addressed with a single policy. You think Congress could write a law tomorrow that no universities should cost more than $20k/year? Or that idiots with a 2.7 GPA shouldn't go to UC Santa Cruz and study art history?

It's pie in the sky thinking to think that is remotely achievable overnight.

My analysis is far more narrow. People should be able to pay for education tax-free. It'll never happen because we're nothing more than infinitesimal components in long-term government revenue projections that include getting taxed up-front, then paying penurious penalties for 25 fucking years.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489580)



Reply Favorite

Date: October 20th, 2017 9:31 PM
Author: lavender rehab dog poop

Education should be treated like other investments.

Interest and tuition should be deductible.

Bankruptcy should be available.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34491357)



Reply Favorite

Date: October 20th, 2017 9:30 PM
Author: lavender rehab dog poop

"We really don't need to be encouraging more people to waste tens of thousands of $$$ on pointless education."

That's where bankruptcy comes in.

Reintroduce loan dischargeability and create some level of claw back against the colleges that fail to produce productive graduates.

The sting of disgorged money will convince colleges to make reforms.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34491352)



Reply Favorite

Date: October 20th, 2017 5:46 PM
Author: passionate elite den

Paying with pretax income will drive up the cost.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489933)



Reply Favorite

Date: October 20th, 2017 4:33 PM
Author: adventurous theatre double fault

Lol at subsidizing "college education" which is now just letting 95 IQ nigs rant about "white supremacy"

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489364)



Reply Favorite

Date: October 20th, 2017 4:33 PM
Author: Sienna bawdyhouse

18000000000

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489370)



Reply Favorite

Date: October 20th, 2017 4:42 PM
Author: Slimy Abode



(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489446)



Reply Favorite

Date: October 20th, 2017 4:49 PM
Author: Dashing nursing home faggot firefighter



(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489508)



Reply Favorite

Date: October 20th, 2017 5:10 PM
Author: topaz knife



(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489656)



Reply Favorite

Date: February 14th, 2018 1:19 PM
Author: Jet market famous landscape painting



(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#35401621)



Reply Favorite

Date: October 20th, 2017 5:11 PM
Author: topaz knife

b/c that would deprive the federal government of billions of dollars for no good reason?

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34489658)



Reply Favorite

Date: October 20th, 2017 9:27 PM
Author: lavender rehab dog poop

It should be deductible as a business expense, and there's no good reason to favor education obtained after the taxpayer has joined a field, which is deductible.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34491337)



Reply Favorite

Date: October 20th, 2017 9:32 PM
Author: adulterous main people

It's a flimsy capital/revenue distinction I agree. It's really all about such a deduction costing too much.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34491358)



Reply Favorite

Date: February 14th, 2018 1:12 PM
Author: French Stag Film Chad

That’s the best reason to do it. The federal budget is what funds the liberal agenda

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#35401564)



Reply Favorite

Date: October 20th, 2017 6:01 PM
Author: pea-brained lemon juggernaut

Like an HSA?

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#34490007)



Reply Favorite

Date: February 14th, 2018 1:10 PM
Author: know-it-all seedy field indirect expression

Because retarded out of touch boomers who make the laws paid their way through college ($100 per semester) by working part time at the record store and assume our generation can easily do the same but for our indolence.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#35401553)



Reply Favorite

Date: February 14th, 2018 1:19 PM
Author: Ocher razzle public bath wrinkle

lol at subsidizing this shit and driving up tuition prices even more. We need to discourage people from taking out loans, not encourage more of it.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#35401617)



Reply Favorite

Date: February 14th, 2018 1:25 PM
Author: lavender rehab dog poop

College should be treated like other business investments.

And, as with other business investments, the debt should be dischargeable in bankruptcy.

When the threat of bankruptcy looms, lenders (including the feds) will be more prudent and put pressure on colleges to not be such spendthrift, irresponsible fuckups. And, if necessary, we can create some sort of partial clawback from colleges to tighten the incentives link.

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#35401675)



Reply Favorite

Date: February 14th, 2018 1:26 PM
Author: Jet market famous landscape painting

pay your loans, faggot. you don't need subsidies unless you majored in some useless bullshit like law or gender studies, in which case get fucked

(http://www.autoadmit.com/thread.php?thread_id=3769804&forum_id=2#35401690)