Can't have the Prez "bribing" those deadbeat students or people who need health care, folks who need social security etc. Let's have a libertarian or conservative Prez bribing the wealthy "job creators lol lol". Oh, I know that is not libertarian. let's pretend there is no government and everyone is a rugged individualist.
Loan forgiveness would be a wonderful thing for people swimming in debt, and the economy. You are so blinded by your irrational Obama hate, that you mock something that would obviously help you. You're a fool.
Student loan forgiveness is a terrible idea. It penalizes all sorts of people who've done exactly what we ask people in our society to do: * Students who made the tough choice to go to a cheaper school * Students who took part time jobs to work their way through school * Parents who sacrificed throughout their lives to help pay for their kids' education * People who worked hard to pay off their student loans early * Banks who reasonably invested in kids' educations And on and on. It basically tells everyone "there's no reason to make good economic choices, because at the flip of a switch, we might just change all the rules."
i pretty much agree with your points but the spiraling cost of higher education need to be checked. also, i think we overemphasize the importance of going to college. we could do a better job of de-stigmatizing vocational studies.
One of the biggest reasons why public universities have been raising their tuition in recent years is that the states have cut higher education budgets year after year.
I went to UH, a cheaper school I worked up to 3 jobs during undergrad My mother couldn't afford to contribute to my college expenses Grad school is pilling on more debt, and plenty of people are in situations like mine, where if I didn't have to spend 10 years after I graduate from grad school paying off interest, I could be putting money into the community. Try again.
Who said it was, you missed the point, because you're still butthurt, I'll stop making fun of you if it will make you feel better.
Why did you have to go to grad school? That is a choice. How much is UH instate tuition? It is something like 10K per year right? so if you paid off some of it during your under grad days you should have about 20-30K student loans. If you are in a decent field then 40K plus should not be a problem. It is not that bad a trade off.
Might have been true when you and I were going to school, but the last decade or two have resulted in a completely new paradigm as far as lending, borrowing, repayment prospects and profiteering off thereof.
I don't need to try again. Those were choices you made, knowing the costs and the interest paying you would face. The government could just give everyone $1,000,000 each too, and it would let people put money into the community and help the economy. That doesn't mean it's not a stupid idea.
How so? I agree with an earlier poster that work needs to be done on the cost of going to college, but it doesn't change the decision making from the individual players. A local credit union that makes an education loan to a student does so with the intent of being paid back. If you forgive all the student loans, I see no reason for any lender to ever make a student loan again because they can't calculate their rate of return if we randomly cancel their legal contracts. Similarly, people still make the decision to go to cheaper schools. People still make the decision to work through school to take on less debt. People still save money for their kids to go to college. The decision making process is the same, even if the numbers are much bigger. I'm all for changes to the system. I think the idea that student debt doesn't go away in bankruptcy is stupid and should be changed. I think the changes that took banks out of the process of some student lending is great. I think for-profit schools are a huge scam and need to be changed. But the solutions to all of that do not, in any way, involve forgiving student loans.
But that's not what's happening - the for-profit industry is so huge and has been incredibly disruptive here that a lot of these assumptions that you are making arent' valid. They're responsible for 25% (and probably climing) of all total defaults (not sure of the total debt burden) yet only 12% of all loans Of these defaulters, most of them aren't folks who recklessly decided to go to Oberlin and major in Philosophy, rather than going to YOungstown state and now can't make ends meet. Rather it's people who had no idea what they were getting into and got sucked in by the marketing of DeVry, Phx, and the rest. Best case, it's somebody who enabled themselves to believe that taking 50 g's for a career in video game design by watching commercials was a good idea - but in many cases it's far, far worse (folks recruited from homeless shelters, overseas veterans preyed upon by recruiters) than that. I don't think anything (including forgiveness) shoudl be off the table when dealing with that sector.
That's a problem with the for-profit education sector, though - not of the student loan system. You'd be penalizing the wrong people here. The better solution to that problem is to obliterate the for-profit industry by making the changes Obama wanted to make, directly connecting student loan eligibility to their job placement success. Unfortunately, I believe that was blocked by a GOP Congress.
Well we had selfish or misguided folks not wanting to pay the type of taxes that kept their college costs low. How about we just go back and give present day indebted students a rebate for the additional costs they encurred before we had all the whole conservative/reagan libertarian economics crap. It would be admitting that all the libertarian type economics for the 1% was bs and now we have to make a correction--much like we have had to bail out the banks and some others institutions ruined by that policy blunder.
Sorry for spoiling your party and attempt to re-direct the subject, but your point that I responded to was that student loan forgiveness would hurt people who worked jobs! and their parents saved! blah blah, I am an example to the exact contrary.
Well if you made it reasonably easy to discharge the loans in bankruptcy than it wouldn't be that different from forgiveness for those who have no earning power. I think that this might be better than just discharging them in mass. Something needs to be done not only for the good of the millions so indebted, but for the good of the economy. It would be very stimulative.
Ummm, I think you missed my point entirely. It hurts them because you are given free money while they are not because they made an effort not to have outstanding student loans. And, of course, everyone has to share in the costs/penalties of giving away that free money. You're screwing over good, honest people because you want free money.
I never said that, and again, YOU are missing the point that several people are trying to make to you, but you can believe whatever you want bud.
