Student Debt vs. Mortgage Debt: What Makes Them So Different?

Unlike mortgages and most consumer loans, education debt can haunt you for life.         

By Tobie Stanger

Consumer Reports 

June 27, 2016

https://www.consumerreports.org/student-loan-debt-crisis/student-loans-vs-mortgages-what-makes-student-debt-different/

Excerpts: 

Americans owe more than $1.3 trillion in outstanding student loans. That's the second largest consumer debt, surpassed only by mortgages. A college education can cost as much as or more than a mortgage. But the stakes are higher if you run into trouble paying your student loans. 

Here's why student debt is harder to manage than a mortgage.

Congress sets federal loan rates each spring off the 10-year Treasury note. Private lenders have their own formulas. Student loan interest rates are typically higher than those of 30-year fixed-rate mortgages.

Can You Refinance to Take Advantage of Lower Rates?

                                                                                        Mortgages                                                                     Yes, through many banks and credit unions.

Student Loans
Yes, but be warned: Few private providers offer these services, and when you refinance federal loans, you forfeit key consumer protections.

Can You Discharge Your Loan in Bankruptcy?

Mortgages
Yes.

Student Loans
Not without proving “undue hardship” to a bankruptcy judge with challenges from the lender, a high bar.

Can the Loan Grow Bigger Over Time?

Mortgages
Not really, due to rules forbidding servicers from setting too-low payments, causing interest to add up.

Student Loans
Yes. That can happen with income-based repayment plans and in other circumstances. When unpaid interest is added to principal, debtors pay interest on interest.

“Where is the New Theology Leading Us?”

By Fr. Reginald Garrigou-Lagrange, O.P.
Published in A.D.1946

https://web.archive.org/web/20070807042825/http://www.cfnews.org/gg-newtheo.htm

Editor’s note: Catholic Family News proudly presents its exclusive English translation of Father Garrigou-Lagrange’s landmark work, “La nouvelle théologie où va-t-elle?”, which was first published in 1946 in Rome’s Angelicum, one of the most prestigious theological journals in the world. Father Garrigou-Lagrange, O.P. one of the greatest Thomistic theologians of this century, warned that the “New Theology” of Maurice Blondel, Henri de Lubac, etc. is nothing more than a revitalized Modernism. This same new theology was subsequently deounced by Pope Pius XII in Humani Generis. This article, because of its in-depth nature, is meant not only to be read, but studied. It is hoped that the publication of this work will help dispel the widespread confusion of our time, especially since, by admission of its own adherents, this modernist “new theology” has become “the official theology of Vatican II”.  (See Si Si No No series "They Think They Have Won" on “The New Theology”)

Excerpts: 

It should be remembered that on December 1, 1924, the Holy Office condemned 12 propositions taken from the philosophy of action, among which was number 5, or the new definition of truth: “Truth is not found in any particular act of the intellect wherein conformity with the object would be had, as the Scholastics say, but rather truth is always in a state of becoming, and consists in a progressive alignment of the understanding with life, indeed a certain perpetual process, by which the intellect strives to develop and explain that which experience presents or action requires: by which principle, moreover, as in all progression, nothing is ever determined or fixed.”18 The last of these condemned propositions is: “Even after Faith has been received, man ought not to rest in the dogmas of religion, and hold fast to them fixedly and immovably, but always solicitous to remain moving ahead toward a deeper truth and even evolving into new notions, and even correcting that which he believes.”19

Many, who did not heed these warnings, have now reverted to these errors.

Thus is modernism reprised: “Truth is no more immutable than man himself, inasmuch as it is evolved with him, in him and through him.42 As well, Pius X said of the modernists, “they pervert the eternal concept of truth.”

            

This is what our mentor, Father M.B. Schwalm previewed in his articles in Revue thomiste, (1896 through 1898)43 on the philosophy of action, on the moral dogmatism of Father Labertbonnière, on the crisis of contemporary apologetics, on the illusions of idealism, and on the dangers that all of these posed to the Faith.

But while many thought that Father Schwalm had exaggerated, little by little they conceded the right to cite the new definition of truth, and they more or less ceased defending the traditional definition of truth, as well as the conformity of judgment to intuitive being and the immutable laws of non-contradiction, of causality, etc. For them, the truth is no longer that which is, but that which is becoming and is constantly and always changing.

Thus to cease to defend the traditional definition of truth by permitting it to be illusory, it is then necessary to substitute the vitalist and evolutionary. This then leads to complete relativism and is a very serious error.

Moreover, this leads to saying what the enemies of the Church wish to lead us to say. When one reads their recent works, one sees that they are completely content and that they themselves propose interpretations of our dogmas, whether it be regarding original sin, cosmic evil, the Incarnation, Redemption, the Eucharist, the final universal reintegration, the cosmic Christ, the convergence of all religions toward a universal cosmic center.44

One understands why the Holy Father in his recent speech published in the September 19, 1946, issue of L’Osservatore Romano, said, when speaking of the “new theology”: “If we were to accept such an opinion, what would become of the unchangeable dogmas of the Catholic Faith; and what would become of the unity and stability of that Faith?”

Relics

What positive proof have you that the Catholic Church is the only true Church?

3. What positive proof have you that the Catholic Church is the only true Church?

The proof, lies in the fact that the Catholic Church alone corresponds exactly to the exact religion established by Christ. Now the Christian religion is that religion which

(a) Was founded by Christ personally;

(b) Has existed continuously since the time of Christ;

(c) Is Catholic or universal, in accordance with Christ's command to go to all the world and teach all nations;

(d) Demands that all her members admit the same doctrine;

(e) Exercises divine authority over her subjects, since Christ said that if a man would not hear the Church he would be as the

Now the Catholic Church alone can claim

(a) To have been founded by Christ personally. All other Churches disappear as you go back through history. Christ said, "Thou art Peter, and upon this rock I will build My Church" (Matt. XVI, 18). There are many claimants to the honor of being Christ's Church. But among all non-Catholic Churches, we find one built on a John Wesley; another on a Martin Luther; another on a Mrs. Eddy, etc. But the Catholic Church alone can possibly claim to have been built on Peter, the chief of the Apostles, and one-time Bishop of Rome.

(b) To have existed in all the centuries since Christ.

(c) That every one of her members admits exactly the same essential doctrines.

(d) To be Catholic or universal.

(e) To speak with a voice of true authority in the name of God.

4. Where in Scripture does it mention that Christ founded any such system?

In general, Christ terms His Church a kingdom which supposes some organized authority. However, the explicit steps in the establishing of an authoritative hierarchy are clear. Christ chose certain special men. "You have not chosen Me: but I have chosen you" (Jn. XV., 16). He gave them His own mission. " As the Father hath sent Me, I also send you" (Jn. XX., 21). This commission included His teaching authority: “Teach all nations Whatsoever I have commanded you," (Matt. XXVIII, 19-20); His power to sanctify-*Baptizing them," (Matt. XXVII., 19-) forgiving sin, "Whose sins you shall forgive, they are forgiven," (Jn. XX., 23) offering sacrifice, "Do this for a commemoration of Me" (1 Cor, XI., 24); His legislative or disciplinary power—“He who hears you, hears Me, and he who despises you despises Me," (LK. X., 16); "Whatsoever you shall bind on earth, shall be bound also in Heaven," (Matt. XVIII.,18). "If a man will not hear the Church, let him be to thee as the heathen," (Matt. XVIN, 17). 

The Apostles certainly exercised these powers from the beginning. Thus we read in the Acts of the Apostles, "They were all persevering in the doctrine of the Apostles," (I., 42). St. Paul himself did not hesitate to excommunicate the incestuous Corinthian (1 Cor. V, 3-5). And he wrote to the Hebrews, "Obey your prelates, and be subject to them" (Heb. XIIII, 17.)

Source: 

True Church Quizzes

(A Catholic Response to Protestant Objections concerning The One True Church). By: Fathers Rumble and Carty. Radio Replies Press, St. Paul 1, Minnesota, U.S.A. 1943 

IMPRIMATUR                                                            Joannes Gregorius Murray                                Archiepiscopus Sancti Pauli

http://www.catholicapologetics.info/apologetics/protestantism/true.htm

A Statement by Pope Saint Leo II

 “…[I]t is not allowable for anyone to produce another faith, that is, to write or to compose or to consider or to teach others; those who dare to compose another faith, or to support or to teach or to hand on another creed to those who wish to turn to knowledge of the truth, whether from Hellenism or Judaism or indeed from any heresy whatsoever, or to introduce novelty of speech, that is, invention of terms, so as to overturn what has now been defined by us, such persons, if they are bishops or clerics, are deprived of their episcopacy or clerical rank, and if they are monks or layfolk they are excommunicated.”

—Pope Saint Leo II, Third Council of Constantinople, c. A.D. 681

Facebook Users Keep Posting Sarcastic Memes Comparing Their Mortgages And Credit Cards To Student Loans When There Is No Comparison!

There are memes posted by Facebook users throughout Facebook that sarcastically announce that their mortgage or their credit card “now identifies as a student loan”. 

These posts on Facebook are ignorant. People with mortgages and with credit card debt have more rights and better options compared to student loan borrowers, including full bankruptcy rights. 

Massive student loan debt will only continue to increase if these Facebook posts continue to spread without them being countered with hard facts! 

______

I wonder how many people who are vehemently opposed to student loan relief and claim that student loan relief hurts the economy and tax payers were quick to accept and cash their free COVID stimulus checks that were sent from the federal government (IRS) in 2020 and 2021 and how many of these critics favored the forgiven of their PPP loans and never condemned it? Some members of Congress had all of their PPP loans forgiven including accrued interest. These same members of Congress are now calling student loan relief “unfair”. 

The counter argument to the PPP comparison is that they were forced on businesses that were forced to shut down and limit their services because of the pandemic and that the payments forbade these businesses from opting for bankruptcy and that these businesses never benefited from the loans.

This argument is flawed. I know of many local businesses and many churches that benefited from the PPP loan. The spread of the virus at that point was much more widespread compared to its variants and so closing of businesses and other places was a consequence of the early stages of the pandemic. Businesses are able to file for bankruptcy and even include their PPP loan and have the loan discharged in full if they find their financial situation too burdensome. As the following law group explains:

IS MY PPP OR EIDL LOAN DISCHARGEABLE IN BANKRUPTCY?

If you are a business owner that has received a PPP or EIDL loan and you are facing financial losses beyond your control it may be in your interest to consider bankruptcy. The PPP and EIDL loans are in fact dischargeable during bankruptcy proceedings.

What does dischargeable mean?  It meas that you don’t owe the loan anymore, and don’t have to pay it back.  The basic benefit of bankruptcy is that it discharges many types of loans so that you can get on with your life.

https://www.bankruptcytruth.com/are-ppp-loans-eidl-loans-dischargeable-in-bankruptcy/

But PPP loans in many cases have been full forgiven (including accrued  interest). Almost $30 billion have been forgiven as of this writing with many applications still being processed. 

Unfortunately, student loan borrowers who are in severe and almost irrecoverable economic hardship do not have this same opportunity including bankruptcy filing in spite of the fact that the U.S. Constitution stresses a uniform right to bankruptcy but Congress took this right away only from student loan borrowers. 

The Constitution says in Article I, Section 8., 

“. . . To establish uniform Laws on the subject of Bankruptcies throughout the United State.”

But the laws are not “uniform”. How can a person who is in debt not be permitted by law to file for bankruptcy when the Constitution guarantees this as a right. 

As Alan Collinge of Student Loan Justice and author of The Student Loan Scam says,

“The Congress of 1976 (and subsequent Congresses through 2005) stripped this protection uniquely from student loans. Today, we see the consequences; a viciously predatory, hyper-inflationary, lending behemoth which has grown to nationally threatening proportions. This is precisely the sort of lending catastrophe that the Founders wished to avoid.

“Lending systems fail from time to time. This has been true dating back to biblical times, and continues to be true to the present day. In the mid-eighties, for example, the S&L crisis saw the failure of a third of U.S. Savings and Loan Institutions, and the dissolution of the Federal Savings and Loan Insurance Corporation (FSLIC).”

He also pointed out in another post, 

“After the Revolutionary War was won and the

Constitution was written, the Founders felt that

bankruptcy rights were so important, they place the

creation of a uniform bankruptcy system near the top of the list when enumerating the powers of Congress. Bankruptcy was, in fact, placed ahead of the powers to declare war, to coin currency, to raise an army and a navy, for example!”

The student loan lending system has become a miserable failure but the finger pointing is always pointed at the wrong people (the borrowers) instead of at the government, the schools and the lenders who have purposely bloated loans and penalties that no one - unless he or she wins Mega Millions - will be able to pay. 

President Trump Also Advocated Student Loan Forgivenss

From October 2020, 

Trump Includes Student Loan Forgiveness In Latest Stimulus Proposal, Signaling Its Broad Appeal 

https://www.forbes.com/sites/adamminsky/2020/10/11/trump-includes-student-loan-forgiveness-in-latest-stimulus-proposal-signaling-its-broad-appeal/

Excerpt:

President Trump has offered to forgive some student loan debt as part of a new $1.8 trillion stimulus proposal to House Democrats, indicating how rapidly the idea of cancelling student debt has gained broad, bipartisan appeal.

_____

At least back in 2020 there was bipartisan support for student loan forgiveness by President Trump and members of Congress representing the Right and the Left but because it is another election year with a failed Democrat in the Oval Office the issue has once again become one-sided politically and with no real solutions being addressed and passed by Congress including reversing the horrible student loan bills that Biden helped pass when he served in the Senate (“Joe Biden Backed Bills To Make It Harder For Americans To Reduce Their Student Debt,” https://www.ibtimes.com/joe-biden-backed-bills-make-it-harder-americans-reduce-their-student-debt-2094664). 

Biden voted in favor of depriving student loan borrowers of the right to declare bankruptcy without being countered in court by the Department of Education. That is a problem that no one in the mainstream media has addressed. I am shocked that my fellow Conservatives have not bashed Biden on that one issue!!

____

I wonder how many people who are vehemently opposed to student loan relief and claim that student loan relief hurts the economy and tax payers were quick to accept and cash their free COVID stimulus checks that were sent from the federal government (IRS) in 2020 and 2021 and how many of these critics favored the forgiven of their PPP loans and never condemned it? Some members of Congress had all of their PPP loans forgiven including accrued interest. These same members of Congress are now calling student loan relief “unfair”. 

No, Student Loan Cancellation will not cause Inflation

By Alan Collinge of Student Loan Justice and author of The Student Loan Scam

https://studentloanjustice.medium.com/no-student-loan-cancellation-will-not-cause-inflation-f46a331ea5a0

Excerpts: 

Both arguments are asinine. The claim that cancelling student loans will benefit the wealthy is easily disproven in this article, and won’t be repeated here. The argument that cancelling student loans will only accelerate the current inflationary trend, however, has yet to be addressed, but there are at least three different arguments that demonstrate clearly that the claim is ridiculous on it’s face.

First: The average student loan borrower has a monthly payment of roughly $400/month. According to the Bureau of Labor Statistics✎ EditSign✎ EditSign, the average monthly expense for an average household (2.5 people) in the U.S. was $5,875. Annual inflation, currently, is 8.5%. This leads to an increase in monthly expenses for the average household of about $500/month. The monthly increase in these borrowers income that would result from student loan cancellation would not even cover the increase in their monthly expenses due to inflation. Therefore, even total student loan cancellation could not contribute to additional consumption (demand), and thus could not contribute to inflation.

The large majority of student loan borrowers are in the bottom 80% of earners, and they are- as everyone in the middle and lower income levels is- feeling the brunt of this inflation most of all. According to the Department of Education’s former Chief Operating Officer, Wayne Johnson, 85% of these borrowers were underwater on their loans (ie unable to pay, or paying but with increasing loan balances) before the pandemic- so these people were struggling well before Covid, and the inflation we are seeing now only exacerbates their plight- even with student loan cancellation. large majority of student loan borrowers are in the bottom 80% of earners, and they are- as everyone in the middle and lower income levels is- feeling the brunt of this inflation most of all. 

According to the Department of Education’s former Chief Operating Officer, Wayne Johnson, 85% of these borrowers were underwater on their loans (ie unable to pay, or paying but with increasing loan balances) before the pandemic- so these people were struggling well before Covid, and the inflation we are seeing now only exacerbates their plight- even with student loan cancellation.

The federal student loan system is, by all rational metrics, catastrophically failed. At a minimum, standard bankruptcy protections should be returned to these loans immediately. Ultimately, however, the President will have to cancel the loans broadly, deeply, and perhaps totally. It would be far better for the country to act boldly now, rather than string this problem out through yet another election.

We can do better than this.

 

No, Student Loan Cancellation will not Benefit the “Wealthy”

By Alan Collinge 

https://studentloanjustice.medium.com/student-loan-cancellation-will-not-benefit-the-wealthy-92694be79936

Excerpt: 

 This failure is a direct result of the wholesale removal of consumer protections from these loans. Not only have bankruptcy protections and statutes of limitations been stripped uniquely from federal student loans, the loans have also been stripped of Truth-in-Lending laws, greatly restricted Fair Debt Collection laws, and even state usury laws are not applicable to federal student laws. This, and a draconian collection regime which serves to hyper-inflate loans with penalties, fees, etc, have pushed the lending system over the brink of legitimacy.

——

I seen a meme on a few popular Facebook pages that claims student loan forgiveness or cancellation only benefits the affluent in that it gives them a break on their student loan that the non-affluent lack. The meme is stupid. If the affluent have student loans then they would have paid them off on their own a long time ago or they would pay their tuition without assistance because they are, after all, AFFLUENT! Duh!

Do they even know what the word “affluent” means?

Matthew 24:7-8, 11-13

"For nation shall rise against nation, and kingdom against kingdom; and there shall be pestilences, and famines, and earthquakes in places: Now all these are the beginnings of sorrows.....And many false prophets shall rise, and shall deceive many. And because iniquity hath abounded, the charity of many shall grow cold. But he that shall persevere to the end, he shall be saved." 

(Matthew 24:7-8, 11-13)

The Catholic Church

Because of its indefectibility the truths revealed by God will always be taught in the Catholic Church. Saint Ambrose said: “The Church is like the moon; it may wane, but never be destroyed; it may be darkened, but it can never disappear.” Saint Anselm said that the bark of the Church may be swept by the waves, but it can never sink, because Christ is there. When the Church is in greatest need, Christ comes to its help by miracles, or by raising up saintly men to strengthen and purify it. It is the bark of Peter; when the storm threatens to sink it, the Lord awakens from His sleep, and commands the winds and waters into calm: “Peace; be still!” 

—My Catholic Faith (book)

https://angeluspress.org/products/my-catholic-faith

BREAKING NEWS: Kansas Woman Injured in Botched Legal Abortion After Pro-Life Amendment Defeated

 Video: 911 recording (redacted)

Excerpts:

Dangerous hemorrhages continue at the Trust Women Wichita abortion business after the Value Them Both Amendment failed at the ballot box earlier this month. A recount in several counties over the weekend showed little change in the results.

____

The constitutional amendment was intended to restore the state’s ability to put abortion restrictions or bans in place to protect innocent babies from violent death and expectant mothers from life-threatening injuries. Tennessee passed a similar constitutional amendment at the ballot box in 2014 and will be abortion free this week as a result.

Multiple emergency medical teams were immediately dispatched. Moments later, at 3:45 p.m., emergency medical personnel were observed rushing into the abortion facility. Shortly after, the woman was pushed out hurriedly on a gurney and loaded with such urgency that Operation Rescue’s onsite associate was completely taken aback and missed the opportunity to capture a photo of the tragic event.

____

The 911 records confirmed those suspicions. Though the 911 recording and the computer aided dispatch (CAD) transcript are highly redacted, both revealed that she was suffering from a “post-procedure hemorrhage.”

“The Trust Women facility, obviously named with political motivation, is a dangerous, high-volume abortion business that is not worthy of the trust of women or anyone else,” Newman added. “This is clearly evidenced by the growing number of critical hemorrhage cases requiring emergency transport. These women walked into a Kansas abortion clinic only to be wheeled out on gurneys in need of life-saving treatment at the closest emergency room. Kansas must do better!”

Read full article: 

https://www.lifenews.com/2022/08/22/kansas-woman-injured-in-botched-legal-abortion-after-pro-life-amendment-defeated/

Recommended:

Silent No More Awareness Campaign

https://www.silentnomoreawareness.org/about-us/

Related:

1. Woman taken in ambulance after abortion at Wichita facility on Palm Sunday

https://www.liveaction.org/news/woman-ambulance-abortion-wichita-palm-sunday/

2. Seventh woman in 16 weeks taken by ambulance from NYC Planned Parenthood 

https://www.liveaction.org/news/seventh-woman-16-weeks-nyc-planned-parenthood/

3. Woman injured in 34th documented incident at dangerous NYC Planned Parenthood 

https://www.liveaction.org/news/woman-injured-34th-nyc-planned-parenthood/

4. “BUTCHER OF BELLEVUE” INJURES DANGEROUSLY HEMORRHAGING ABORTION PATIENT DAYS BEFORE CHRISTMAS 

https://www.operationrescue.org/archives/butcher-of-bellevue-injures-dangerously-hemorrhaging-abortion-patient-days-before-christmas/

5. Women Killed by Legal Abortion

The following is a partial list of documented cases of women killed by legal abortion in the United States. Special thanks to Life Dynamics and Operation Rescue for data. More info can be found at PriestsForLife.org.

https://www.priestsforlife.org/brochures/maternal-death-list.pdf

6. Here’s 64 Documented Cases Where Botched Abortions Injured Women in 2021, There’s Thousands More

https://www.operationrescue.org/archives/butcher-of-bellevue-injures-dangerously-hemorrhaging-abortion-patient-days-before-christmas/

Rhode Island Lacks A True Conservative Talk Radio Host And This Is Hurting The State

Rhode Island has enjoyed a long and rich history of AM talk radio. There are talk radio personalities who are fondly remembered for their wit and wisdom. Everyone’s favorite is arguably the late Salty Brine. He was known for his popular catch-phrase "no school Foster-Glocester" which he routinely uttered when the Foster-Glocester school district announced school closings, especially in response to severe weather during the harsh New England winters.  

In a state that is largely pro-Democrat, it is not surprising that many of the talk radio hosts past and present were/are Democrat. The popular personalities from the old days were, for the most part, subscribed to the classical liberal school of political philosophy. They were conservative on many points of view. The advocates of modern liberalism would not see eye-to-eye on many issues that these old-school classical liberals espoused on Rhode Island talk radio many years (or decades) ago.

Were there or are there any conservative talk radio hosts among the long list of Rhode Island’s talk radio hosts? It depends on how you define the word “conservative”. There have been a few talk radio hosts in Rhode Island who have been labeled “conservative” but they certainly can never be compared to hard-core conservative’s like Rush Limbaugh, Dan Bongino, Mark Levin and Sean Hannity. There have been a few among the RINO crowd, that is, token conservatives similar to ones you may see on The View. 

At this time, John DePetro is probably the closest radio personality that espouses conservative viewpoints in Rhode Island but sometimes listening to him can be frustrating and disappointing because he can be inconsistent and he will occasionally quote a Never-Trumper or even the ultra-liberal New York Times as he did today when he questioned - wrongfully - President Trump’s opposition to the FBI’s Mar-a-Lago raid. He could have (and should have) been fair by citing sources that strongly vindicate Trump (including the sources I have posted throughout this blog), but instead he took a page out of the Never-Trumpers playbook. He knew in his conscious that he was wrong because he was struggling to make his point-of-view as he was trying to gather his thoughts in between pauses. It was difficult to follow him as he was attempting to explain his thoughts. He would have been better off if he had done his research and read the latest bombshells from sources like The Western Journal, Breitbart, PJ Media, The Political Insider and The Washington Free Beacon. Mention should have been made concerning the deeply disturbing allegations the FBI whistleblowers are making to members of Congress. This story ought to be included in any conversation concerning Trump and the FBI raid. 

The FBI raid involved members of disgraced special agent and anti-Trump fanatic Peter Stroak’s counterintelligence unit even though this unit is under active investigation by both Durham and the bureau’s disciplinary arm, the Office of Professional Responsibility. Shouldn’t this very important information be included in discussions on Trump and the raid on Mar-a-Lago? 

FBI Field Office Chief During Botched Whitmer Plot Got a New Assignment Not Long After ... Ever Heard of Mar-a-Lago? https://www.westernjournal.com/fbi-field-office-chief-botched-whitmer-plot-got-new-assignment-not-long-ever-heard-mar-lago/

BOMBSHELL: FBI Unit Responsible for Raid on Mar-a-Lago Also Behind Russiagate Hoax https://pjmedia.com/news-and-politics/matt-margolis/2022/08/19/bombshell-fbi-unit-responsible-for-raid-on-mar-a-lago-also-behind-russiagate-hoax-n1622486 

I do not know of any true conservative in Rhode Island who can go on local radio with his or her own show and espouse non-RINO, non-Never Trumper viewpoints and who would courageously and consistently promote and defend Pro-Life beliefs on issues like abortion. 

Not one so-called “conservative” talk radio host was at the Rhode Island State House back in 2019 covering the heated debate over the abortion-expansion bill. Pro-Life leaders like Kara Young and Barth Bracy were not invited as guests on talk radio and if they happened to appear on a radio program they were often cut off or there appearance was abruptly cancelled. 

I recall, for example, back in 2012 when News Talk 630 WPRO & 99.7 FM disregarded the "Equal-time rule" with Pro-Life advocate and political candidate Chris Young. Chris Young deserved to take part in a Tuesday debate with two other District 1 candidates. He was a major candidate for political office for several years. If he were only a "minor" candidate then the aforementioned rule probably would not apply. He seemed to have been ignored because of his pro-life and Catholic viewpoints?

Anyway, talk radio in Rhode Island is in dire need of a solid conservative personality. Some may argue that WHJJ has already filled that void but their lineup features nationally syndicated personalities like Sean Hannity. Where are the potential conservative “stars” among the locals? Do they exist? 

Is Joe Biden About To Throw A Bone At Student Loan Borrowers?

“Not even a bone. It is a political play and totally unserious.”

— Alan Collinge of Student Loan Justice and author of The Student Loan Scam

UPDATE: Biden went ahead today and cancelled $10,000 in student loans for some borrowers ($20,000 for Pell Grant borrowers). He also extended the postponement of payments through December 2022. This is ridiculous and not for the reasons that my fellow Conservatives like Rep. Jim Jordan and Charlie Kirk keep mentioning (I hate to disagree with them but this is one issue that they in many ways get wrong. I am surprised they have not criticized Biden for being partly responsible for causing the student loan crisis and for removing the options and protections that borrowers had years ago. See article below by International Business Times). Notice how Biden failed to address the fact that bankruptcy is still missing from the rights of borrowers (because it was Biden who voted to remove it) and notice how the postponement extension does nothing to help the ongoing crisis. It just means that for over 21/2 years borrowers have faced a severe and forced delay in trying to pay off their loans without real solutions and at a time when the economy with growing inflation has not restored our nation back to pre-COVID conditions. 

And there was no mention about the stalled bill S.2598! 

The following video by Alan Collinge of Student Loan Justice and author of The Student Loan Scam: raises a few legitimate points in response to Biden’s latest actions: 

Here is a very good interview with Alan:

UPDATE 2: 

Why are Senators Schumer and Warren celebrating Biden’s latest actions on student loans when his actions differ from the proposals they kept pushing Biden to accept? Answer: They are all in on the ruse! 

UPDATE 3: 

My fellow Conservatives on Facebook have bought into the common myths and conceptions about student loans and about borrowers (not all borrowers are “slackers”) made by leading critics on student loan relief or cancellation. They apparently are unaware of the fact that the rights and protections enjoyed by other people in debt including mortgage and credit card debts are excluded from student loan borrowers and they apparently are unaware of the fact that even if the entire federal student loan program ended today taxpayers would not have to pay for it because the money loaned does not have anything to do with tax dollars for non-borrowers. The studies claiming otherwise are bogus (see Alan Collinge’s videos addressing this issue with facts). Student loan forgiveness always effects the borrower and never touches taxpayers in general because of what’s called “Cancellation of Debt (COD)” income. Borrowers with forgiven debt would receive a Form 1099-C as documentation. The debt forgiven is taxable income. Therefore, Biden’s student loan forgiveness is meaningless because it provides zero relief for borrowers. 

Here’s what President Biden’s student loan forgiveness means for your taxes 

https://www.cnbc.com/2022/08/24/heres-what-president-bidens-student-loan-forgiveness-means-to-your-taxes.html

Excerpts: 

Taxable student loan forgiveness often creates a significant burden, especially for lower-income borrowers with large balances, Miller said.  

Typically, when lenders forgive at least $600 of student loans and it’s taxable, they’ll send borrowers and the IRS a copy of Form 1099-C, which includes the exact amount of canceled debt, said Tommy Lucas, a CFP and enrolled agent at Moisand Fitzgerald Tamayo in Orlando, Florida.

 

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The latest news reports suggest that Clueless Joe Biden is prepared to reduce the student loan debt by only $10,000 per borrower. This is significantly lower than the $50,000 reduction proposed by a few leading members of Congress. 

He is basically throwing borrowers a bone. 

Biden’s plan is as laughable as the 'Supplemental' Stimulus Checks that were issued in response to the horrendous negative economic impact made by the China Virus and the lockdown. Many businesses are still suffering to the point they are understaffed and facing hurdles caused by the pandemic and currently by inflation. 

Biden is the same person who helped to increase the out-of-control student loan debt. He backed bills that made it more difficult to pay off student loans and he took away from student loan borrowers the protections that people with mortgages, for example, have in place including the bankruptcy option. 

Joe Biden Backed Bills To Make It Harder For Americans To Reduce Their Student Debt 

https://www.ibtimes.com/joe-biden-backed-bills-make-it-harder-americans-reduce-their-student-debt-2094664

Excerpt:

As a senator from Delaware -- a corporate tax haven where the financial industry is one of the state’s largest employers -- Biden was one of the key proponents of the 2005 legislation that is now bearing down on students like Ryan. That bill effectively prevents the $150 billion worth of private student debt from being discharged, rescheduled or renegotiated as other debt can be in bankruptcy court.

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And now his fallen economy and rising inflation and poor decline in GDP makes it much more difficult for all Americans to pay bills and put food on the table. It is terrible the student loan program was created in the first place because in the long-run it has caused more problems than it has solved. The negatives far outweigh the positives but this probably was not envisioned when the program was started. 

What is also troubling is the fact that lenders, including the government, irresponsibly and hyperactively gave large loans to kids fresh out of high school and to people with a history of health problems or other problems with the promise from their school that they will live the American Dream after graduation and not worry about paying their bills. These schools on orientation day sent out their best salespeople who cleverly made it sound like going to college is the equivalent of winning a billion dollars in the national lottery! The reality, however, is far from this well-manufactured perception. 

Recommended Reading: 

No, Student Loan Cancellation will not Benefit the “Wealthy”

By Alan Collinge 

https://studentloanjustice.medium.com/student-loan-cancellation-will-not-benefit-the-wealthy-92694be79936