high school should include required classes in financial literacy and planning, including college expenses and return on investment. Each graduating senior should be required to prepare a draft financial life plan that includes job, work description, realistic salary, life expenses, family expenses saving plan. No diploma without completing this exercise. edit: everyone with a GPA below a C should be required to walk through a life plan based on minimum wage salary.
Don't have government subsidized student loans and make student loans dischargeable in bankruptcy. Education costs will plummet. Right now they love giving out student loans to people to get a degree in Women's Studies (or insert other unmarketable degree here), because the lender is guaranteed to get their money plus interest no matter how much the school charges. There is every incentive for the school to charge $60k+ per year and soak the taxpayers. No bank is going to make an unsecured loan of $200k to someone with no credit to get a degree in Women's Studies, because there is no expectation that it will ever be paid back. Without that endless revenue stream, Universities will either lower tuition, or radically reduce their offerings to those who can afford to attend or will reasonably be expected to earn enough to pay off their loans (STEM majors, etc.)
I cited that example because of a physician I know that regretted that decision for 20 yrs before he put in another 10+ to become a doctor. He was around 45 when he was finally done His exact statement, “study film in NYC at 18…or goto Ohio for engineering?!…no **** I chose that”
PREACH!!!! student should know or at least have a good idea about finances and investing…it should be mandatory
I’d have no qualms about scrapping the entire Senior year of HS curriculum and doing nothing but classes on budgeting, taxes, loans, insurance, investments, entrepreneurship, real estate, banking, personal finance, etc.
If high school kids knew how screwed they would be with a minimum wage job, they might get scared enough to work hard and find a path to avoid that.
at the very least, some of these English courses can go to make way for more important things like finances and investing sorry Mrs. Smith, nobody read that 16th century poem u assigned yesterday
I could give a lecture on not getting a bullshit degree. I’m doing well now, but man those first 5 years out of college with a political science degree were TOUGH.
To be frank... I thought grade school education was about teaching kids HOW to look that stuff up on your own and comprehend it using research and critical thinking skills obtained through school work.
WaPo https://www.washingtonpost.com/opinions/2022/08/24/biden-student-loan-forgiveness-mistake/ Opinion: Biden’s student loan announcement is a regressive, expensive mistake By the Editorial Board August 24, 2022 at 3:00 p.m. EDT Under progressive pressure to force grandiose policy changes, President Biden has generally embraced sensible reforms over flashy gimmicks. But his Wednesday student loan announcement did just the opposite. After weeks of anticipation, Mr. Biden announced he will extend the pause on student loan payments until the end of the year. He will also forgive up to $10,000 for those making less than $125,000 a year — and up to $20,000 for Pell Grant recipients under that income threshold. Both measures are ill-conceived and misdirected. The loan pause, which President Donald Trump instituted in March 2020, was an emergency measure at a time when people were struggling to find jobs or had to remain home due to the pandemic. Thankfully, the situation is very different today: The unemployment rate for people with bachelor’s degrees and higher is just 2 percent. It’s hard to make the case that college graduates are still facing an unprecedented crisis. The loan-forgiveness decision is even worse. Widely canceling student loan debt is regressive. It takes money from the broader tax base, mostly made up of workers who did not go to college, to subsidize the education debt of people with valuable degrees. Though Mr. Biden’s plan includes an income cap, the threshold does not reflect need or earnings potential, meaning white-collar professionals with high future salaries stand to benefit. Student loans, moreover, are a poor proxy for household income: An analysis by policy researcher Jason D. Delisle found that, in 2016, students from high-income and low-income families were just as likely to take on debt for their first year in an undergraduate program — and students from high-income families borrowed the largest amounts. Mr. Biden’s plan is also expensive — and likely inflationary. The Committee for a Responsible Federal Budget estimates that extending the loan pause to the end of the year would cost $20 billion, while forgiving $10,000 for households making less than $300,000 would cost $230 billion. Together, these policies would nullify nearly a decade’s worth of deficit reduction from the Inflation Reduction Act. Moreover, it is unclear that the 1965 Higher Education Act even grants the president the legal authority to take such a sweeping step, given that it was historically understood to permit only more targeted relief. True, Mr. Biden did not go as far as many on the left wanted: Democratic lawmakers and activists had urged the White House to cancel up to $50,000 in student loan debt, with no income limits. Mr. Biden was right to rule that out earlier this year — and would have been wise to focus on reforms that help the neediest. His proposal to make the income-driven repayment program more generous at least targets a program that scales the help people get with their incomes. But a better approach would focus on expanding Pell Grants and other college finance programs pinpointed to the truly needy. Mr. Biden’s latest budget proposal called for doubling the maximum awards for Pell Grants by 2029 — a measure that would make college more affordable for low-income families for years to come. And, as with other worthy programs, Congress and the Biden administration should find a credible way to pay for such an expansion, rather than just adding more to the national tab. Mr. Biden’s student loan decision will not do enough to help the most vulnerable Americans. It will, however, provide a windfall for those who don’t need it — with American taxpayers footing the bill.
Republicans sure like to btch about how Biden student loan decision is not doing enough to help folks in need or how it's adding to the nations debt. Meanwhile these same btches r those who support tax cut for the rich and additional funding for the military. They never care about the nation debt when it comes to pushing sht for their benefit. Ima b honest this doesn't help graduates like me but it's better than the Republicans who will never even bother to do this much. Republicans politicsns tells poor folks to pull up their boot strap and work hard to paid off their loans while ask for ppp loans for God knows why. Hypocrites
your continued pushback on kids learning about finances and investing is getting old…u will never convince me that it shouldn’t be mandatory
It's just a difference of opinion and an opinion I'm very open to changing but I need a expert in child brain development and childhood education to change my mind on it. From what I understand, grade school isn't really about memorizing knowledge but exercising the brain to be intellectually curious and critical thinkers that can navigate media sources
I paid off my wife's student loans ahead of schedule. Zero jealousy or bitterness here. This is only one small step of many that need to happen to get an entire generation out of an economic ditch.
Honestly u figured folks would have more empathy for those currently struggling to pay off them dam student loans. Them Republicans politicians managed to get their ppp loans forgiven but helping students out is too much of a "financial burden for our nation" they have to btch about it.
Oh twitter is alight with freezing cold takes of conservatives b****ing about this and then getting exposed for having taken ppp loans that were then forgiven. Lulz. The only thing more nauseating are the army of national review warriors claiming to suddenly care so much about the non college educated.
