The people I know who will benefit did not stop working through the pandemic. Some say they did not ask for this, but will not pass on it. And, they express guilt over the fact that taxpayers who never attended college will not receive any benefit. It reeks of classism. Make those bricks so our kids can go to college! Most everyone decries the cost of college, yet no one seems to be putting pressure on politicians for actual reform.
Should Student Loans Be Forgiven or Enforced?
- Thread starter College#19
- Start date
If Biden is successful in pulling off this stunt for more votes I think it should come with some stipulations for those who take the money. A few simple things like:
1) The Biden check should be treated as a default of a loan.
2) It should go on your credit score as a non payment of a loan.
3) You should not be eligible for any loan until the life of this loan is over. No house mortgage, no new cars.
4) You would not be eligible for any loan until your credit score was 750 or above.
This is just a start. A person who does not pay their student loan has proven to be a poor financial risk and should be treated as such.
The interest rate on the loan should only (1) serve the cost of the government program and, possibly, (2) provide a modest incentive for the government to be able to contract service of the loan. I am not sure what else should be needed.
There should be some penalty or flag so future lenders know they're possibly lending to a non-creditworthy borrower. While I do find it cowardly and insulting that people that didn't need this bailout are being shouted down by those taking it, we shouldn't make it worse than it already is.
Flag them and maybe make it so they can't file bankruptcy on another loan for 10 years. Responsible adults shouldn't lower ourselves to their level. We need to be better than that and lead by example that you can actually borrow money and pay it back.
That explains why the variable-rate loan is marketable when the rate is about to increase.
Can a lender ask that question on a future loan application? Did you take a government handout for your student debt?
The fact is that many of these benefited voters are not underwater. There was no attempt to discern, beyond income, who is and who is not. The DOE and it’s contractors have that kind of data so that this could have made more sense. Instead, it’s an attempt at a young person vote grab.
Biden wants to hire a misinformation director to decide what misinformation to spread to the masses. Sounds perfect.
Not everyone needs to go to college. Also nothing keeps kids from working while going to college.
I had a job throughout undergrad and scrambled for food, at times.
Well said, there must be some penalty to pay if you get a government bail out on a loan. And I would apply that to an individual, a business and a state or local government. When Americans have to bail out California and New York because of their asinine policies they should pay a price.
Throwing money at problems has to end. Face the problem and fix it. If you just hand out freebees people will never learn and improve. If an individual can not repay a student loan they either had a major that does not produce substantial gainful income or they are irresponsible.
I would be interested, as a taxpayer, in knowing what these people who can not pay majored in college and what their occupation is. I bet a lot of them are just living above their means and are the type who want instant gratification in life and do not have the discipline to save and wait until you can afford something you want. Society does not owe them a penny.
You can link whatever you want. I know what happened to me and my student loans.
So how much does an electrician school cost? It depends on where you enroll. Electrician training cost varies by the length and location of the program. However, in general, you should expect to spend anywhere between $1,000 and $11,000 to attend a training program. This sum may sound like a lot of money, but it’s important to remember that schools may have grants, loans and scholarships available to alleviate your electrician training costs.
https://electricalschool.org/electrician-schooling-cost/
Northwest HVAC/R in Spokane, WA, for example, provides a one-year certificate program for $6,500.
https://www.vocationaltraininghq.com/cost/hvac-training/
You can enroll in the Penn Foster plumbing technology program which costs $868, or Ashworth College which costs $800.
Another option is to enroll in a certificate program in plumbing that costs $1,250-$3,000 and AC/C Tech in Indianapolis offers a five-course program in plumbing technology for $1,250.
If an associate’s degree in plumbing technology is what interests you, the cost is $3,000-$23,000.
https://www.howtobecomeaplumber.org/plumbing-school-cost/
https://electricalschool.org/electrician-schooling-cost/
Typical Costs
The HVAC certificate comes at the price of $1,200-$15,000 and is available at a technical school or community college for 6-12 months.Northwest HVAC/R in Spokane, WA, for example, provides a one-year certificate program for $6,500.
https://www.vocationaltraininghq.com/cost/hvac-training/
Typical Costs
An online training program in plumbing costs $800-$1,000.You can enroll in the Penn Foster plumbing technology program which costs $868, or Ashworth College which costs $800.
Another option is to enroll in a certificate program in plumbing that costs $1,250-$3,000 and AC/C Tech in Indianapolis offers a five-course program in plumbing technology for $1,250.
If an associate’s degree in plumbing technology is what interests you, the cost is $3,000-$23,000.
https://www.howtobecomeaplumber.org/plumbing-school-cost/
This should be more of a focus when advising high school students on future careers. These jobs pay excellent money and are in need. You can always find work in one of these trades. Contractors are building so many new houses in the area I live that it may take up to a year to get a remodeling job at your house.
I am remodeling two bathrooms and I contacted a general contractor in November of last year. He may be able to get started next month. No promises.
Bet we would never be in this current situation if this was a focus going back to the 80's.
I hope online learning platforms force colleges to rethink their strategy. If you want a job in tech, there is almost ZERO reason to go to college. Anything you could ever want to learn will be on Udemy or Code Academy.. and even if those programs fall short at times, it's not like listening to a professor talk about 10-year old technology is any better.
It's going to be wild to see how these learning platforms grow.. from course offerings to teaching styles that may use these professors in a live format.
It's going to be wild to see how these learning platforms grow.. from course offerings to teaching styles that may use these professors in a live format.
Great point. Coding will be the vast majority of jobs available in the very near future. Colleges are way behind in that field and employers don't care about college degrees. Could be a major catalyst in the much needed reset.
I also know the parents of two students that borrowed money for college but dropped out in the first semester. I guess we will be paying their loans for them. Will it ever end. Will people ever take responsibility for what they do? I am sure they had a great college experience on our money.
You can go even further than that. IT Security, Infrastructure Engineering, Helpdesk, Project Management.. the entire stack of IT can be, and should be, done online.
And as you alluded to, what comes next? Can business and economics be done on a platform like this? I think so. Obviously any jobs that require hands on will need to be done in-person.. but even something like Cooking, look at what COVID did with everyone stuck at home. People learned to cook through Youtube and Tiktok videos.
Shouldn't everybody be feeling the cuddles and big hearts everytime they make that interest payment? You wanted Obamacare...so you should feel totally altruistic making those payments
Yes, you should pay back a loan you took as an adult. Plenty of kids didn’t go to school because of the expense.
How bout we stop making college so expensive and this whole issue eventually ends itself? Either that or stop making it a requirement that people have degrees to get jobs that barely pay for our bills.
The title implies that someone’s debt will be forgiven. FALSE. That debt is just transferred to people that in some cases could not afford to go to college that are currently employed.
The title should read” Student debt transferred to other people that had nothing to do with the original loan “.
The title should read” Student debt transferred to other people that had nothing to do with the original loan “.
Remove the federal guarantee for student loans and make them dischargeable in bankruptcy and the price of college will crater overnight.
It is asinine that the federal government is in the business of guaranteeing student loans in the first place. It is completely disingenuous to discuss student loan forgiveness without closing Fannie Mae, etc first.
That will never happen, of course, because too many institutions have a vested interest in getting kids accustomed to sucking on the government tit.
Did someone just type the thread title into ChatGPT and bump it with the answer, or did an AI bot do it itself?
If the AI bots are already just randomly instigating internet fights, I fear (hope?) the end will be here sooner rather than later.
If the AI bots are already just randomly instigating internet fights, I fear (hope?) the end will be here sooner rather than later.
AI may end message boards and social media. I don't really want to communicate in any medium where there are non-humans talking.
Was that a fight or was that the biggest milquetoast response it could come up with?
But how would you know? I assume that there are more than a few bots on message boards (perhaps this one) given that they are probably using this as a training model.
I believe randomly and its purpose is it will come back in 30 days or so and edit the post to include some type of spam/fraud link.
On this board it seems it’s always a new poster in an old thread with a super generic post and they don’t respond to any replies.
Funny you mention that my i know a kid that is going thru an internship with habitat for humanity and is in community college and aspires to be a welder and it pays 100k and they are begging to fill these jobs!
Maybe people should quit listening to what society thinks is normal and not go to an overpriced college with no guarantee of a job?
I am against it. But if it were implemented, I agree completely with 1 & 2.
3 & 4 seem maybe a little extreme, but I don't disagree with the intent (to make it more difficult for them to get another loan to default on).
College is insanely expensive. And I have yet to see a good reason why. My education 30-35 years ago was good. The cost at the same schools is now 10x as high. Total inflation has not been anywhere close to 10x over those 30-35 years.
It is directly caused by federal student loan programs. No one in their right mind would ever loan an 18 year old $50k+/yr for four years to get some nonsense liberal arts degree in lefthanded puppetry or whatever unless (a) that loan could not be bankrupted and (2) the federal government guarantees its repayment when the borrower inevitably can't meet the payment terms.
That has caused an obscene skyrocketing of costs with no end in sight unless the federal government gets out of the business completely which, again, will never happen because too many universities have too much political power to ever allow that to happen.
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