And in the millionaire world neither have:
Bill Gates
Michael Dell
Steve Jobs
Richard Branson
Mark Zuckerberg
Jack Dorsey
Chuck Todd (NBC lefist snob)
Steve Wozniak
Ted Turner
Larry Ellison
and on and on......
Should Student Loans Be Forgiven or Enforced?
- Thread starter College#19
- Start date
Bill Gates
Michael Dell
Steve Jobs
Richard Branson
Mark Zuckerberg
Jack Dorsey
Chuck Todd (NBC lefist snob)
Steve Wozniak
Ted Turner
Larry Ellison
and on and on......
Remember the posts about how Twitter could never monetize because advertisers never trusted the data on amount of unique users?
They admit they "overestimated". Of course everyone knew they were fos which is why they couldn't get serious ad revenue. Musk said one of the first things he will do is force each profile to be a confirmed real person. That alone will generate a much more ad revenue
They admit they "overestimated". Of course everyone knew they were fos which is why they couldn't get serious ad revenue. Musk said one of the first things he will do is force each profile to be a confirmed real person. That alone will generate a much more ad revenue
Continuing to lay the foundation for executive action using their covid created "public health" powers
Paying for tuition for everyone is one thing. I could maybe accept that. Paying all student debt including living in posh "dorms" and not working a single day for 4-5 years and then getting all of that paid off is ridiculous. Those same decisions were available historically just not as a part of student loans. You could go live like a king and rack up debt, you just had to figure out how to pay for it. When every student out there with debt went to school they had the same decision. Go to school for 3k a semester in tuition and live off campus with roommates and work to pay your rent and food and you got by for around 25k. Go live like a king in a new dorm and you have 100k debt. How anyone would expect the taxpayers to cover the extra 75k is beyond reasonable IMO.
There is no good argument for doing this.
Unless you’re for building a welfare socialist state.
Unless you’re for building a welfare socialist state.
And buying votes with government money from a privileged class of people.
That is essentially what I meant, but we agree.
I was going to say that that demographic is too lazy to go to the polls, but the Dems Ave figured out a way around THAT as well.
I was going to say that that demographic is too lazy to go to the polls, but the Dems Ave figured out a way around THAT as well.
Agree on buying votes. Disagree on the privileged people. The privileged people never need student loans.
The Revolt of the College-Educated Working Class
Over the past decade-and-a-half, many young, college-educated workers have faced a disturbing reality: that it was harder for them to reach the middle class than for previous generations. The change has had profound effects — driving shifts in the country’s politics and mobilizing employees to...
This probably fits here in some way.
A big reason for that ^ IMO, is that EVERYBODY has college shoved down their throats, and learning a trade is seen as a somehow inferior path. Even though a master electrician will earn MUCH more than all but a select segment of folks with a college degree. The staggering shortage of HVAC techs, electricians, welders, plumbers etc. proves my point.
I don’t have the facts, but my hunch is that the folks that have the largest student debt loads, are kids that grew up in white middle and upper-middle class homes.
I’d be shocked if that isn’t true.
Wait until someone gets 90K of student debt forgiven and they have to come up with the money to pay the taxes on that.
Might be but broad brushing all college graduates as "privileged" is far from accurate. At least some of us had nothing given to us and fought every inch to get where we are. Nothing privileged about that.
I agree with you. But I think, if they are GOING to forgive debt, there should be means testing (which should include parents’ income and holdings)*
*I am vehemently opposed to entire idea though.
*I am vehemently opposed to entire idea though.
And how far back do you go?
Once I got out of the Air Force, I went back to college, and had to get loans (the GI bill wasn’t around anymore when I joined in 1984)
I paid my loans off. It took almost 10 years, but I did it (while supporting a family of four) Surely I deserve a rebate, right?
served my country
paid my loan back
no GI Bill
Once I got out of the Air Force, I went back to college, and had to get loans (the GI bill wasn’t around anymore when I joined in 1984)
I paid my loans off. It took almost 10 years, but I did it (while supporting a family of four) Surely I deserve a rebate, right?
served my country
paid my loan back
no GI Bill
I don't think they should be forgiven. They should be eligible for bankruptcy. So I don't agree with the forgiveness approach.
However...if they aren't going to forgive it needs to be across the board. No need in wasting more money by deciding who meets certain criteria. The ssa already shows how that is a failure
My biggest concern isn't the forgiveness. I suspect the government already recoups w shockingly low percentage of what's owed. My concern is the notion it's "one time forgiveness" because we know they won't be the case
It’s ludicrous they want to cancel the debt but not do a damn thing about what caused the debt to begin with. How are colleges still able to leave sticker prices so high?
I think that some here have the wrong impression about me. I am totally against it.
Why not pay off student loans? Those 1400 checks set the world back on its axis imagine the good paying off everyone’s debt for liberal art degrees would do
Also, some of those majors listed in the article may be what people love, but does not mean the market will support.
Exactly, why should I and millions others who have worked all of our lives paying taxes and now retired paying taxes pay for people who go to college. Many of them (the larger portion) will not be working in the field of their degree. Their debt is not my problem it is theirs.
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If they forgive loans now. they should pay everyone back who paid theirs off. Make a huge push for this and maybe they will come to their senses and see just how ridiculous and destructive that would be.
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Just FYI, but an article I was reading said Biden was considering 10k. I don’t think it’s ever been discussed for full forgiveness.
Also the more I thought about it I think I’ve figured out a good solution to this whole mess. Cap the annual amount of aid the government gives every year to universities, therefore making the process of who to give it to more selective and making it known the university doesn’t have infinite money it can collect, and then make rest of loans up to private companies with interest capped at 4%. Genius! You can thank me later.
Also the more I thought about it I think I’ve figured out a good solution to this whole mess. Cap the annual amount of aid the government gives every year to universities, therefore making the process of who to give it to more selective and making it known the university doesn’t have infinite money it can collect, and then make rest of loans up to private companies with interest capped at 4%. Genius! You can thank me later.
Because they fund the politicians asking to saddle the American taxpayer with this bill.
Look at the universities that funded Warren. They're in bed together.
https://www.opensecrets.org/2020-presidential-race/elizabeth-warren/contributors?id=N00033492
I agree. Predatory lending needs to be addressed.
Forgiving the loans is just not right.
This is essentially how the entire political system works. Puppet plays a character for the citizens to give them the illusion of choice. Puppet enriches themselves and their cronies and legislation is pushed or killed based on the wishes of lobbyists.
It’s all political bribery. Big Pharma pays, politicians and CDC/FDA do what they want. Companies pay to skew things in their favor and around and around we go. Every election cycle we have these assholes come out and cosplay that they’re like us and asking for votes and even then, your vote will be offset by shady crap.
Nearly every government agency should be abolished. Politicians wealth confiscated.
Honestly term limits would solve an absolute shit ton of issues. Something that will never happen unfortunately.
Lol... can you imagine CNN if 38 states got together to do that? "THEY'RE THREATENING OUR DEMOCRACY!!!! THIS IS WHITE SUPREMACY!!!!"
Lol - ya the actual state legislatures would vote to limit the terms for themselves. That would be like teachers forming a union to make it so they don’t get tenure.
So much this. The underlying problem is that the price for higher education has gotten ludicrous BECAUSE of our federal student loan program. There's very little incentive to look for "value" in choosing schools.
Maybe the U.S. government needs to get out of the business of guaranteeing higher education loans altogether and let students/parents of students take out loans based on their ability to pay. I know that favors the rich, but it's necessary to protect students from their own poor judgment.
We have created an education bubble, similar to the housing bubble in 2007. A harsh but necessary correction is needed.
Amen, brother. UNC sent me a recruiting letter years ago for their first on-line MBA class. I reached out to the director and said, "how much?" It was $86K. Little did she know that I had a buddy on the inside who helped develop that program. Dude told me that the margin on it was absolutely huge, meaning the UNC would be taking in a hell of a lot more than the cost of the program. And this could all be funded on government loans.
I told the director that I'll pay her $11K for the program because UNC's cost was estimated around $10K and I'll throw in $1K for overhead. She didn't respond.
My stepson graduated high school by the skin of his teeth. When he got out, he got a factory job, bought a car, and was doing fairly well for himself. However, he frequently visited his friends down at UK, and they must have convinced him that he should go to school and party like they were as well.
He enrolled at Cincinnati State in the fall of 2017. Result: Hardly went to classes, dropped out after 1 semester, didn't pay his rent, and eventually lost his car. Has been jumping from job to job, working for a month or so, and then just stop going in. We finally kicked him out several years back. He's been living with his sister (my stepdaughter) pretty much ever since, continues to start jobs, work a month or two, and then just blow them off.
My new wife and I just bought a very large house, and both my stepdaughter and stepson are moving back in for 6 months to a year to allow her to pay off some debt and save up to buy a house, but they both have to pay rent. We've already told my stepson he needs to pay his own way and if he doesn't have it, he's out. We'll see what happens.
BTW, my own oldest daughter, who is graduating from WKU next month, is in a similar boat. Has not shown any initiative whatsoever to find a job related to her degree. She's high-functioning autistic, but she is very smart and very capable. I've told her what I've told my stepson numerous times: Go to any temp service around Northern Kentucky by 10 am and she can be working at a warehouse job for $16 an hour (or more) by noon.
He enrolled at Cincinnati State in the fall of 2017. Result: Hardly went to classes, dropped out after 1 semester, didn't pay his rent, and eventually lost his car. Has been jumping from job to job, working for a month or so, and then just stop going in. We finally kicked him out several years back. He's been living with his sister (my stepdaughter) pretty much ever since, continues to start jobs, work a month or two, and then just blow them off.
My new wife and I just bought a very large house, and both my stepdaughter and stepson are moving back in for 6 months to a year to allow her to pay off some debt and save up to buy a house, but they both have to pay rent. We've already told my stepson he needs to pay his own way and if he doesn't have it, he's out. We'll see what happens.
BTW, my own oldest daughter, who is graduating from WKU next month, is in a similar boat. Has not shown any initiative whatsoever to find a job related to her degree. She's high-functioning autistic, but she is very smart and very capable. I've told her what I've told my stepson numerous times: Go to any temp service around Northern Kentucky by 10 am and she can be working at a warehouse job for $16 an hour (or more) by noon.
I know a guy that uses his student loan debt to save on taxes. He could of paid it off years ago. He has made over $100,000 since the day he got out of school. He intentionally is paying the least to save on taxes.
I don’t have the link but they did a survey and the average salary a student expects to get out of college is 103k but reality is 50k so ya these kids take out these loans with the thought it’s just gonna get paid back in no time until reality sets in.
