In March 2019 the U.S. Senate defeated The Bank on Students Emergency Loan Refinancing Act by a vote of 58-38. The act, proposed by Senator Elizabeth Warren (D-MA) would lower the interest rate on existing student loans from 7% to 3.86%. The act would be financed by levying a mandatory income tax of 30% on everyone who earns between $1 Million and $2 Million dollars per year. Proponents argue that current student loan interest rates are nearly double normal interest rates and should be lowered to provide relief for millions of low-income borrowers. Opponents argue that the borrowers agreed to pay the interest rates when they took out the loans and taxing the rich would hurt the economy.
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@9SLQ2HR9mos9MO
Increase taxes on rich. I don't particularly care for student loans. Why should their loans be forgiven when others struggle and take out loans to survive and ours aren't forgiven?
@9RNYL2J10mos10MO
Colleges should not charge students as much as they do. As far as taxing the rich that money should go to things such as k-12 schools, shelters for abuse victims, and cleaning up our streets.
@9R4BH2610mos10MO
Focus on colleges /universities reducing cost and/or providing low interest financing. Tax dollars should not be used.
@9K9QP7QRepublican1yr1Y
I support EVERYONE paying a percentage of their wages to taxes! What I do not support is double earners, high income paying more than the billionaires out there. There should be a flat tax or less loop holes for the very wealthy to get tax breaks from.
@9JTJ27SRepublican1yr1Y
No, student loans should be capped at low interest rates so people can afford to go to college and not be in debt forever.
@9JJJJYS1yr1Y
You should have to pay your debts. But the government is giving way too much college . That can't even get a job with a degreefor
@9HRD7WFRepublican1yr1Y
No, but all colleges/universities that are not private should be free, but in one way or another competitive to get in too. All current people that are still paying off their student loans should be pardoned from their payment responsibilities, and given at the bare minimum 40% of what they already paid off. Additionally, people who already paid off all their student loans should be paid back in full, and paid back 10% of the grand total of what they paid off, additionally, they should also be paid back $2,000 for every year since they paid off all their student loans. This should only be for colleges/universities that are NOT private.
@9F9YKKQ2yrs2Y
Yes, but end all tax credits and subsidies to force higher education to finance itself as a consequence of manufacturing this crisis
@9DHQX782yrs2Y
No because the more you tax the rich the more you will have to pay for items
@96J9WSV3yrs3Y
No, higher education should fall under the free market system
@96FH6HD3yrs3Y
We should use a flat tax rate so everyone is taxed equally and eliminate loop holes, student loans should be privatized and government should stay out of it. I didn't have my loans paid for, I had to work to pay them off and now I'm paying off others school loans with my taxes.
@963W324Constitution3yrs3Y
Too simple and ineffective, bust up big companies, government should have no role in student loans but should stop predatory lending and the notion that everyone should go to college
@94FZLTR3yrs3Y
This isn't a viable solution given the fact that the rich will find loopholes in the system.
@94CLXC93yrs3Y
Increasing taxes on the rich would I my give the government more money to spend poorly, none of it would actually go to paying tuitions
@949TVZM3yrs3Y
Free tuition after mandatory national service of 24 months.
@948J7M33yrs3Y
The poor should be taxed more
@93WSXCV3yrs3Y
College tuition should be cheaper to start
@93R7JDXRepublican3yrs3Y
Where is the correlation in this?
@93KQHT43yrs3Y
We should tax the rich and make people pay their own student loan debts
@93BPTXF3yrs3Y
No, but the colleges should not be allowed to charge as much as they do.
@92P3CL43yrs3Y
Lower the salaries of chancellors and stop their tripple dipping pension plans
@92GTJ6B3yrs3Y
Colleges need to be cracked down upon and be given no federal money and job restrictions that require degrees should in most cases be changed.
No and ban student loans
@928VP7W3yrs3Y
No, the banking and lending system should be regulated and nationalized to take care of its citizens and prevent predatory practices.
@9237VNZConstitution3yrs3Y
Remove predatory loan interest
@8Z63X623yrs3Y
No. I don’t have a student loan to pay off so this doesn’t apply to me.
@8Z63X623yrs3Y
I don’t have a student loan to pay off so this doesn’t apply to me.
@8Z5XXGZ3yrs3Y
Remove interest, don't increase tax.
@8YTP83XRepublican3yrs3Y
Close tax loopholes and have a flat rate tax.
@8YPYT7C3yrs3Y
Increase taxes on the rich but not just for funding for student loans.
@8Y5Y6NS3yrs3Y
No and end the student loan program
@8Y5869B3yrs3Y
Federal government needs to reduce it’s financial aid to universities and colleges
@8XGCJCZ4yrs4Y
He/she who applied for and received the loan, is therefore responsible for that loan, interest and all.
@8WXVLLS4yrs4Y
Create an Income Cap at 2 million USD to still encourage upward mobility and wealth creation while avoiding capital from pooling into too few hands.
@8WWSRN24yrs4Y
Yes, only on the extremely wealthy
@8WD37GGIndependent4yrs4Y
Stop giving loans to kids
@8VV2PP84yrs4Y
No but they should be zero interest from the govt
@8VMY8JW4yrs4Y
No we should regulate the tuition each college is asking while also enforcing what and how they spend that money
@8TZLSD34yrs4Y
Students should pay for their own loans
@8TZ2BRF4yrs4Y
No because the rich find ways to avoid taxes so it wouldn’t matter anyways and the middle class would have to pay and they would struggle
@8TYSZ4BRepublican4yrs4Y
Lower the cost of tuition. It has been proven that every time the Government increases the funds for the poor, the schools increase tuition to claim as much of that free money as possible. All at the cost of the middle class (who cannot pay for college like the rich can).
@8S97B7W4yrs4Y
We should not be taxed on income aka our ability to work.
@8S95MBH4yrs4Y
No, the government should issue interest free loans.
@8S7T53Z4yrs4Y
Colleges and universities need to lower their tuition rates by 75%
@8S26LD74yrs4Y
some people work hard to get were they are right know they deserved to pay the same amount as anyone else
@8QXLVQL4yrs4Y
I do not support raising the taxes of anyone, even the rich
@8QX8CBC4yrs4Y
You get the loan, you pay it. Period.
@8QFVKV54yrs4Y
Put a cap on the cost of school that want to have student who receive public funds.
No, because their job isn’t to pay for everybody else to go to school
@8PTBFNN4yrs4Y
taxes are a percent so the rich are already taxed more
@8PR6RXFRepublican4yrs4Y
If you fall into student debt. It’s nobody else’s responsibility to pay for your debt besides yourself.
Slightly more taxes for very wealthy.
@8PK65764yrs4Y
Yes, but don't use the money to pay for student loans.
@8PFSTTY5yrs5Y
No, and eliminate interest completely.
@8PD6VX35yrs5Y
I am graduating debt free, with a brand new truck paid off in 2 years and i am a home owner. If i did it you can too. Not my responsibility to fund your poor choices.
@8P5TXBX5yrs5Y
Wealthy should pay taxes too and not get all the breaks
@8NFXCRGRepublican5yrs5Y
No matter how much you make you should be charged 10% of your income.
@8LSPFSQ5yrs5Y
College shouldn't be free, but more affordable.
@8HSGTGW5yrs5Y
I think we need to look at why education has become a for profit endeavor.
@8HP8D3H5yrs5Y
yes we should but make the student pay their own loans
@8GYXTWXRepublican5yrs5Y
Forgive student loan debt. Make 4yr college degree free.
@8GVDZPK5yrs5Y
Percentage tax based off income
@8FVQPCP5yrs5Y
Raise taxes for the rich, do nothing about loans because that's their own problem
@8FFH2LMIndependent5yrs5Y
Enforce taxes on the rich get rid of big business tax breaks
@8F9YC5D5yrs5Y
Student debt should be abolished
@8F7QQGVRepublican5yrs5Y
No, But Either Leave student interest rates alone or lower student loan interest rates.
@8DFK7485yrs5Y
Depends on yearly income
@8CW9DYC5yrs5Y
The rich have a choice to move, and the middle class/poor will be forced to pay.
Bankruptcies should be allowed on student loans. The tax payers should not bail out the greedy who extorted the young.
@8C5ZDWS5yrs5Y
a slight increase on the rich
@TruthHurts1012yrs2Y
No, most certainly NOT. The government is a corrupted and dangerous leviathan and political power is the a terrible evil that must be constantly held down before it devours our liberties and destroys our rights. Freedom isn't something you just get because you're an American; you have to be willing to endure the pain of fighting for it and that means opposing every last government measure on the face of this earth that goes beyond what is SPECIFICALLY mentioned in the glorious Constitution of our CONFEDERATED REPUBLIC.
@99Z83DRIndependent2yrs2Y
Increase taxes for the rich but keep student interest loans the same.
@99VHNBH2yrs2Y
Increase taxes on the 1% not people who are not within the highest tax bracket.
@99RLBVY2yrs2Y
Yes, but students should still pay full rates for their choice to college.
@97ZWRVT2yrs2Y
Better Management of Money
@97SJFKC3yrs3Y
Yes, but they should not be taxed too harshly otherwise we may lose their businesses and in turn lose economic benefits from them.
@97QQQZD3yrs3Y
Yes, and abolish the interest rate.
@9764L293yrs3Y
increase taxes on the rich but redirect the money to public programs.
@93FZ2XKRepublican3yrs3Y
No and student loans are the responsibility of those who choose to apply for them, not the responsibility of the government or anyone else other than those who choose to undertake said loans for that matter
@924K4PB3yrs3Y
No, but we should go to a flat tax with 0 loop holes
@8Z5TPW73yrs3Y
Force colleges to drop tuitions and tax them
@8W7MN7V4yrs4Y
College administrators need to take the pay cut
@8RS5GM84yrs4Y
No, what does the success of some people have to do with interest rates? People agree to the terms of a loan when they obtain it. Don't tax the rich for the borrowers stupidity.
@77durgeConstitution5yrs5Y
Yes, but interest rates are too high as is, and should be decreased regardless.
@8FQVX7RRepublican5yrs5Y
Offer students 2 years at a Jr College or Trade School for free.
No, but we should still reduce interest rates for student loans At public colleges and universities.
@8SK4ZQT4yrs4Y
Your not supposed to learn
No, but we should still reduce interest rates for student loans At public colleges and universities
No we should eliminate student loans from public colleges and universities.
No but we should still eliminate student loans from public colleges and universities.
No, but we should still reduce interest rates for student loans From public colleges and universities
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