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H.R. 4170, The Student Loan Forgiveness Act of 2012 (64 comments ↓ | 3 wiki edits: view article ↓)

  • This item is from the 112th Congress (2011-2012) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

H.R. 4170 would increase purchasing power, strengthen economic recovery, and restore fairness in financing higher education in the United States through student loan forgiveness, caps on interest rates on Federal student loans, and refinancing opportunities for private borrowers.

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VOTE NO!

March 19, 2012, 12:28am (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

Q

March 24, 2012, 4:48pm (report abuse)

Forcing banks and colleges to forgive student loans?

Can we say: Communism?

VOTE NO!

March 24, 2012, 10:56pm (report abuse)

YOU SIGNED UP FOR THE DEBT.

YOU OWE THE MONEY.

PAY YOUR DEBT!

VOTE NO!

VOTE YES!

March 27, 2012, 8:11am (report abuse)

THE FOLLOWING COUNTRIES ARE THE TOP 25 RECIPIENTS OF U.S.FOREIGN AID IN 2009 AFGHANISTAN,IRAQ,ISRAEL,EGYPT,PAKISTAN,SUDAN,WEST BANK GAZA,ETHIOPIA,KENYA,COLOMBIA,JORDAN,GEORGIA,SOUTH AFRICA,BURKINO FASO,NIGERIA,MEXICO,RUSSIA,UGANDA,NAMBIA,TANZANIA,HAITI,CONGO,MOZAMBIQUE,ZAMBIA,ZIMBABWE TO THE TUNE OF 47.7 BILLION AND YOU CANT HELP AN AMERICAN?

VOTE NO!

March 27, 2012, 8:06pm (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

VOTE YES!

April 2, 2012, 3:28pm (report abuse)

Some of us took out these loans as cosigners before being unemployed for two years and now being underemployed, and college graduate cannot find a job making more than $25K per year. Things happen. The repayment options for private student loans needs to help us pay back what we owe.

VOTE NO!

April 2, 2012, 6:32pm (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

kudos

April 3, 2012, 10:29am (report abuse)

You must be a banker. Of course I will whine when it is costing me and arm and leg to obtain an education for the hopes of providing shelter and food for my family.

Do you really think most 18-year old college students truly understood what repaying a loan meant? Yes being 18 meant that you were an adult; but it did not mean that you understood enough about the world and economy to make life-changing decisions like borrowing loans.

The reason why our economy is not growing is because consumer purchasing power is affected substantially by the bad decisions we made in the past. It is sad to say that going to college is becoming more of a bad decision than ever before. If it costs an arm and a leg to educate the mind, all we are doing is minimizing the number of bright minds that could really change the world.

VOTE NO!

April 3, 2012, 12:35pm (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

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(logged-in user) April 3, 2012, 6:19pm (report abuse)

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tahsa

April 4, 2012, 4:58pm (report abuse)

I have been paying on my consolidated loan four ten tens. Have paid just under $70,000 and only $5,00 of this has been applied to principal amount due. The loan balance now is almost the same as it was. Original loan amount was $50,000 but was in forbearance for several years while I was a government worker. If you haven't dealt with the heavy hand of a student loan lender, you really don't know what you are talking about!!!!!

VOTE NO!

April 5, 2012, 12:20am (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

shabrena

April 5, 2012, 4:03pm (report abuse)

VOTE YES This will help somany of us.. I have 300K in student loan debt because of fees and default payments., its crazy!

SteveR

(logged-in user) April 6, 2012, 10:53pm (report abuse)

I have only done a cursory review, but this has all the appearances of promoting another financial bubble just like the housing bubble.

As with all bills of this ilk, the objectives are laudably, but like (green energy)Solyndra, the taxpayers will be left on hook. We are already $Trillions$ in debt.

VOTE NO!

April 6, 2012, 11:32pm (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

Vote Yes!

April 11, 2012, 3:52pm (report abuse)

I am sure most of you who are calling for vote no had free rides because your parents could afford to pay. This would be a major stimulus for the economy, it would far outweigh the tax breaks given to the wealthy. So many would be able to purchase homes and cars if this debt was forgiven.

Sure, we can subsidize oil companies with record profits, bail out Wall Street Executives who make risky decisions, but no we can't help the average person who is trying to get ahead by bettering themselves with an education.

How about we just keep giving tax breaks to billionaires and millionaires, that has worked so well for our economic growth and average wages for the majority of the people in this country.

VOTE NO!

April 13, 2012, 3:25pm (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

quillory

April 20, 2012, 10:27pm (report abuse)

Well done. You killed that debate.

Really!?!

April 21, 2012, 1:21am (report abuse)

Hey "VOTE NO!", why don't you try to actually back up your opinion with some substance instead of reposting the same response over and over to anyone that showing support. Some supporters may be whining and just looking for a handout, but others here have some well thought out arguments. I see both sides of this and I am someone with over $100K in student loans, that I have every intention of repaying. I visited this site to get some perspective on the issue. However, after seeing your redundant, weak and monotonous ramblings over and over again, I would be inclined to support this bill just because as you have made more than obvious here, the opponents are narrow-minded wind bags without original thoughts or the ability to make a logical, rational argument. If you are against this bill, SHUT UP - all you are doing is gathering support for the bill. Actually, now that I leaning for it, keep talking, you push those on the fence the other way, just to distance themselves from you!

Former GOPer

April 21, 2012, 11:20am (report abuse)

Vote Yes! Banks have repeatedly destroyed our country via cronyism and political corruption. Real wages have not increased since 1973 while college costs and loans have grown over 500% in the same time period. If we don't invest in education, we are done as country. To let slime bankers and college mills get over b/c they have politicians in their pockets is wrong. Vote Yes.

Greg Again

April 22, 2012, 10:52pm (report abuse)

Wow, this is a tough one. My knee jerk reaction is to say, "you borrowed, you pay." But, another perspective I've got to respect is the one that says that the lenders are making their money back (with interest) many times over (of course I'd have to see some hard numbers to really know). The above opinion that 'we give so much to foreign aid, so why not throw American's a bone,' is a clear fallacy, but it's also good point. Personally, I say vote no. I owe, and I feel that to default (even legally) is just exacerbating the social and fiscal trends of "it's not by problem."

Alicia

April 23, 2012, 8:28pm (report abuse)

I have $50,000 in private loans, since I cannot pay it off right away I had to extend my payments to just be able to temporarily pay the loan payment every month. Sallie Mae tells me with interest I will have paid $113,950 I'm not asking to have my loans wiped away, but I am asking for some reasoning by Sallie Mae and other loan holders. There should be restrictions on these loan sharks and bankruptcy should be reinstated for student loans. I planned to have a high paying job so this wouldn't be an issue. Due to the lack of jobs I am making $10 an hour with a B.A. we need help.

VOTE NO!

April 24, 2012, 11:42pm (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

wow...

April 28, 2012, 9:43pm (report abuse)

Hey broken record, do you have anything intelligent to add to this discussion? You sound like a 6 year old in an argument calling someone a "stupid head" over an over again. I find it very interesting that you post your ridiculous response to everyone expressing an opinion that differs from yours, but you don't respond to anyone addressing you directly. Coward.

J.a.m.i.e.

April 30, 2012, 1:55pm (report abuse)

This does not forgive the debt of every college student. Just those that are in public service. We ALL know that teachers are vastly underpaid. If we can't pay them more money in salary, then forgiving their debt after 60 consecutive, on-time payments is a GREAT alternative.

We can't expect to have a pool of highly qualified public servants to work for peanuts AND no incentives. This will allow our public servants, such as teachers, to be able to purchase homes, cars, etc. once their student loans are forgiven. This in turn helps stimulate the economy.

This is not a handout. This is rewarding those that help us and our children AND only rewards those that have shown the wherewithal to pay on-time and participate in public service for 5 years.

If you are worried on how we should pay for it? Tell your Congressman (or woman) to stop subsidizing the oil companies!!

@wow...

May 1, 2012, 12:41am (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

@J.a.m.i.e.

May 1, 2012, 12:47am (report abuse)

Apparently your degree in basket-weaving didn't include reading comprehension. Perhaps you should get someone smarter than you to explain just what this bill says. There are a lot more "gimmes" in this bill than you describe.

VOTE NO!

slk

May 1, 2012, 9:21am (report abuse)

VOTE YES! The cost of higher ed has become such a burden on our younger generation, we may as well stop building homes, and close the mortgage loan business. OK, when I went to school it cost a reasonable amount. Cash was a feasible way to "pay as you go". However, I am still working due to the questionable health care and retirement that will be available. So there goes another job for a new graduate (when I could retire today with my years of service).

I've said my peace, and no it is not communism, it's capitalism, and making our country divided more than ever. (can you say cast system?)

@slk

May 1, 2012, 2:10pm (report abuse)

You need to ask for a refund from wherever you got your education.

The word is "caste".

And just what does your lack of planning during your supposedly "productive" years have to do with these scammers paying back what they owe? not one damn thing! Just you crying because you couldn't be bothered to prepare for retirement.

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

Angie

May 5, 2012, 10:16am (report abuse)

I say vote yes. Things happen. No one ask to loose their jobs. Yes, I owe a lot in student loans. I plan to pay them back. I agree the person who is saying no. How would you feel if you were not born with a silver spoon in your mouth and had to pay back 100k or more in loans. It is sad people are saying no. However, no one said no when the banks need to be bail out. No one said no to the car dealer ships being bad out. Need I go on. What about your military who borrowed money to go to school and got wounded? How are they able to work and pay for their loans? People can we think and have some compassion for those who have every good attention to pay back our loans? Many people who get things handed to them do not have a care in the world.

Angie

May 5, 2012, 10:28am (report abuse)

To the person who is saying no. What is your occupation? I realize I placed bad for bail in my last post. Question/Comment: Allow someone in your family to get internally ill and you have to spend your money on helping them. I know of people who live in million dollar homes and now in apartments because of a family member getting ill(insurance did not pay the whole bill). More than one child in college need I go on. Unless you are making millions then this does not effect you.

VOTE NO!

May 6, 2012, 11:18pm (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Failire to plan on your part is not a reason to avoid your debt!

Quit whining and pay up.

VOTE NO!

Unfortunate Senior

May 10, 2012, 2:31am (report abuse)

Gov't bails out everyone else it's time they bailed out there future becasue thats what we are and unless we get out of debt fast the economy of the near future is going to suffer. Vote yes!

VOTE YES!

May 12, 2012, 11:09am (report abuse)

Ignoring the individual relief, forgiveness, after 10 years of payments, still makes economic sense. Imagine the amount of freed up spending money that would otherwise be going towards gov't backed loans. A generation of college graduates is surely too big to fail.

VOTE NO!

June 3, 2012, 12:53pm (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Failire to plan on your part is not a reason to avoid your debt!

Quit whining and pay up.

VOTE NO!

Noah

June 15, 2012, 10:34pm (report abuse)

Hey broken record,

Why don't you fess up and tell us what you do for a living... Certainly you're not a rocket scientist. I am and I am in overwhelming debt. I have paid on student loans for 5 years and my initial debt has actually INCREASED 20 grand after deferring loans while I pursued a second doctorate degree. Higher education is actually a penalty. What kind of f...D UP system is that? You sir are a coward, a banker, or a lawyer. I consider all 3 an insult.

VOTE NO!

June 16, 2012, 7:50am (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Failire to plan on your part is not a reason to avoid your debt!

Quit whining and pay up.

VOTE NO!

Noah

June 16, 2012, 12:49pm (report abuse)

Pretty easy to back seat drive and run your mouth when you probably don't even have a dog in this fight. Coward just as I suspected. I am not whining. I am not looking for a handout and I am managing a HUGE burden with a 700+ credit score. I will not default. I will not fail. I would never rely on bacteria like you to whine about paying my debt by my default. The system CAN/SHOULD be improved to invest in our youths education. You probably consider your GED "higher education". Thank god your opinion can be silenced by the masses. Consider yourself less than worthless, undereducated, immaterial. Coward

VOTE NO!

June 21, 2012, 4:05pm (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

VOTE NO!

noah

June 28, 2012, 12:37pm (report abuse)

Congrats on learning that new copy/paste function. That's going to get you real far in life. Dare I say someday you might even be computer literate. Dream big you IDIOT.

@noah

June 29, 2012, 11:31pm (report abuse)

It will probably get them much farther along than your worthless education. Just how is that basket weaving degree working out for you anyway? No wonder you are having such a hard time paying your debts.

VOTE NO!

June 30, 2012, 11:49am (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

noah

July 1, 2012, 3:42pm (report abuse)

basket weaving no. college professor and published research scientist with six figure yes. I have never missed a single loan payment. Your comments and arguments are pathetic . Fess up or shut up. I suggest you reading the bill so you can find out what is actually about. If you need it translated the first grade level let me know. Coward.

VOTE NO!

July 2, 2012, 12:26am (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

Poor noah

July 2, 2012, 12:28am (report abuse)

Anyone who was a "college professor and published research scientist with six figure" would not be here complaining about how unfair it was.

Sounds like just another troll trying to stir things up.

NOAH

July 2, 2012, 1:26am (report abuse)

I am what i say. I have a lot of late nights at the computer and a keen interest in fixing a broken system for the future. Just because you make a lot of money doesn't mean you enjoy donating to bankers abusing an unsustainable system. Just like the housing market. Greed. I have a hard time telling my students to spend 5-8 years of their life in graduate school when compounding interest could literally cripple you for life financially. I make six figures, but i drive old cars that are paid for, live in affordable housing. Hardly the high life. Ever increasing tuition and unaffordable education has a ceiling just like the housing market. The system is severely broken (just like welfare and medicine) and nobody is willing to step up to the plate to fix it. When somebody tries,undereducated people with inflamed egos complain loudly. I have a pretty good vantage point with which to back up my views. Reading between the lines with your reply makes you incredibly underqualified.

@noah

July 2, 2012, 9:04am (report abuse)

You claim to be an educator. Are you teaching your students that it is right to default on their loans? Sounds like someone should contact your employer and seek to have you removed from teaching.

Yes, the system is broken. And you and your kind are a large part of the reason.

NOAH

July 2, 2012, 12:39pm (report abuse)

THAT RESPONSE MAKES NO F...ING SENSE. YOU ARE AN IDIOT. CONGRATULATIONS. TRY HARDER NEXT TIME .

Poor NOAH

July 2, 2012, 3:56pm (report abuse)

Now I ask you folks - Is this the person who should be teaching value systems to the next generations? Certainly causes me to worry where we are headed.

Noah

July 12, 2012, 1:09pm (report abuse)

I broke rule # 357. Never argue with an idiot. He'll drag you down to his level and beat you with experience. Fact is you have not even provided a single SHRED of a decent argument AGAINST this bill. Only copy and paste b.s., childlike rhetoric, illogical babble. You probably have never even left this country to see how far behind our educational system is compared to other countries. It is not wrong to prepare a student for unachievable

goals including debt that cannot be repaid based on a bankers GREED. This prevents loans from being defaulted on. If I am the CAUSE of this then I guess I caused the housing crash, the car industry crash, Oprah to be fat, and guns that kill people. How is it wrong to invest in our educational system? Any 3 year old could argue your case better than you. Go ahead and prove your idiocracy. Just open your mouth. EPIC FAIL with an F-

VOTE NO!

July 15, 2012, 1:00pm (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

Hey Noah!

July 15, 2012, 9:47pm (report abuse)

Are you sure your name isn't Angela Davis? You sure sound like that pinko biyatch.

Noah

July 16, 2012, 12:33pm (report abuse)

Wow a social communist from the Reagan era? Thanks for proving my point, and that you are in fact an imbecile. You should try out for the new game show "are you smarter than a first grader?". Just don't expect to go home with the grand prize! We will see who gets the last laugh when congress votes. Try making a valid argument COWARD.

@Noah

July 16, 2012, 2:41pm (report abuse)

HMMMM.

A total of 20 cosponsors and moving around from subcommittee to subcommittee. Doesn't look like congress will be voting. Why? Because this is another of those bills that is a bad idea and the congress knows it.

At the end of the year I'll be here to have that last laugh when this one dies a well-deserved death.

Yep

July 16, 2012, 10:50pm (report abuse)

Sure sounds like old noah has a little pink running through him there.

And his only comeback is to challenge with words like imbecile and coward? Really, wouldn't you expect more from someone who claims to be so highly educated? Sounds more like another of those 12 years old kids hiding in mommy's basement playing on the computer.

steven highland

July 17, 2012, 8:46pm (report abuse)

I say forgive loans up to a certain amount would be fair and give some people a chance to start over,after all how many foreign people move here with large debt in their own countrys and come here to start over with a clean slate.

***

July 17, 2012, 9:17pm (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

Academic Librarian

August 6, 2012, 5:09pm (report abuse)

I say vote "YES"!!! After having a midlife career/life change (divorce, lost job, mental problems) I went back to school to to what I wanted to do, which was/is to be a librarian. Am now working at a private university but at 57 years of age with roughly $38K of student loan debt left to pay, I'll be working until the day I die. I have had to renegotiate my loan and will have to renegotiate again within another year.

My daughter and her husband lost their house a year ago, in part, because of student loans (they both have them) and another of our friends owes over $60K worth. While a forgiveness of $40K does not sound like much, it would go a long way to help our economy grow because the debt relief would help generate sales of larger-ticket items, providing more work for everyone 'downstream'.

For those naysayers who berate the rest of us, ask around and see if your friends who have kids (or themselves) who have student loans and see what they say...you might be surprised.

YES

webmaster

(logged-in user) August 6, 2012, 5:52pm (report abuse)

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***

August 17, 2012, 6:37pm (report abuse)

***July 17, 2012, 9:17pm (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

And if you don't like what you read here you have another option - GO SOMEWHERE ELSE AND WHINE!

Alicia

December 5, 2012, 4:42pm (report abuse)

To the person "VOTE NO," you really need some help. Do you really think your behavior is normal? I seriously find it spooky. Hope you never hurt anyone intentionally.

Johnva

December 13, 2012, 9:15am (report abuse)

This isn't a freebie to student loan holders. It makes it easier to handle the debt load. The fed bailed out the banking industry and auto industry so why not turn attention to another looming crisis.

Student loan debt is approaching the 1 Trillion mark. Want to provide a boost to the economy? Pass this bill and make it easier to handle student loan debt. Allows more money to get pumped back into the economy.

***

December 23, 2012, 11:49pm (report abuse)

Same old whine.

"IT"S NOT FAIR!!"

"IT"S NOT MY FAULT!!"

"I DIDN"T KNOW!!"

Quit whining and pay up.

VOTE NO!

Looks like all you whiners lose again.

Too Bad!

DEAD

January 2, 2013, 2:01am (report abuse)

DEAD!

DEAD!

DEAD!

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