"Student loan forgiveness" and rich people who want welfare
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"Student loan forgiveness" and rich people who want welfare
Posted by Powerman on 3/16 at 1:37 pm
So this is a topic that doesn't really get brought up often.

But one of my facebook friends reminded me of it. She is a lefty for sure and she thinks that the government should forgive most if not all of her student loan debt.

Now you're probably thinking this is some dumb arse with an art history degree making 8 dollars an hour serving you your vanilla latte. Quite the contrary. She's an attorney from an Ivy League University.

I have no idea how much money she makes but she is able to afford a nice place in NYC and takes multiple out of the country vacations a year based on her photo albums.

If anything people like this should be asked to pay back the interest at non subsidized rates IMO. If the system paved the way for you to succeed then you could at least pay it back at a non subsidized interest rate.

But she's taking it a step further and suggesting that the tax payers (presumably most of which make much less money than her) pick up the bill.



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Posted by rpg37 on 3/16 at 1:42 pm to Powerman
I do not believe student loans should be forgiven. It the responsibility of the young adult to accept these. It is no different than credit card debt. There should be penalty for these or there is no incentive to pay them back.


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Posted by rpg37 on 3/16 at 1:43 pm to rpg37
In addition, I think it is absurd to ask for handouts. What about the hard-working students who get part-time jobs in college to pay for tuition. You are basically just saying you did that shite for nothing by overturning these.

I would support lower interest rates on these. Like mortages or loans, the ability to refinance should be an option.



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Posted by WeeWee on 3/16 at 1:44 pm to Powerman
No that would limit the incentive to do better amd make
more money. BTW your friend is an educated dumbass if she thinks the government should pick up her debt.



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Posted by Powerman on 3/16 at 1:47 pm to WeeWee
quote:

No that would limit the incentive to do better amd make
more money.

But it also increases the incentive to be a barista with 40K in student loan debt. And it makes tuition more expensive.



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Posted by JabarkusRussell on 3/16 at 1:47 pm to rpg37
I definitely think you should pay back your loans but I wouldn't be opposed if they lowered the interest rate to 5%.


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Posted by udtiger on 3/16 at 1:48 pm to Powerman
No forgiveness.

Period.



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Posted by Powerman on 3/16 at 1:50 pm to WeeWee
quote:

BTW your friend is an educated dumbass if she thinks the government should pick up her debt.


She's extremely intelligent actually

I think it's more of a thing of being selfish and wanting a hand out. As if she didn't greatly benefit from the availability of those loans.



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Posted by Joshjrn on 3/16 at 1:57 pm to Powerman
I have no issue paying back my loans, but I do find the interest rates to be a bit irksome. Interest rates of around 7% strike me as a bit high for a debt taken on to pay for a law school education and can never be discharged in bankruptcy.

I mean really, on what planet will they not be getting their money back? Most mortgages in the state of California are more risky than that



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Posted by WeeWee on 3/16 at 1:59 pm to Powerman
Why would you want to be a barista after college? I think it is a good thing about higher tuiton ( as long it is not incredibly high). Mississippi College is expensive as frick and its making me study harder than when I was at LSU. TOPs would help
pick up the cost of a dropped class now hell
no it comes out my pocket.



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Posted by SlowFlowPro on 3/16 at 2:00 pm to Powerman
quote:

I think it's more of a thing of being selfish and wanting a hand out

for sure

i still have 5-figure student loan debt, and i'm not even gung ho about my decision, BUT, it has allowed me to do some really good things. if my job experiment works, i'll live a comfortable life with a great quality of life



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Posted by St Augustine on 3/16 at 2:01 pm to Powerman
This is my one huge pet peeve because it hits close to home. I got into a graduate program that didn't take federal loans and the only loan available were private loans at a rate over 10.5% (very small school). I had over 80k in loans at this rate. Rather than half assing it, my wife and I spent 2 years busting our asses and dumping just about everything we made into it. Long story short we paid off 92k+ off in 25 months and now I have a job that allows me to make into 6 figures if I so choose. The day we closed that loan was one of the top 10 greatest days of my life because I knew we did exactly what we had to to get it out of our lives.

THEN we started buying cars, a home, and going on vacations. Your facebook friend sucks.


This post was edited on 3/16 at 2:08 pm

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Posted by Powerman on 3/16 at 2:05 pm to WeeWee
quote:

Why would you want to be a barista after college?

I wouldn't. But there are plenty of food service workers with college degrees.

quote:

I think it is a good thing about higher tuiton

How could that possibly be a good thing?




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Posted by JabarkusRussell on 3/16 at 2:11 pm to Powerman
quote:

I wouldn't. But there are plenty of food service workers with college degrees.


And they're not just people with Art/Gender degrees. I know a lot of people with decent degrees, sometimes two, working crap jobs you can do while in high school.



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Posted by WeeWee on 3/16 at 2:12 pm to Powerman
See my post about dropping classes, it didn't bother me at LSU with tops picking up part of the bill. Now that weewee is picking up a much larger bill all by myself I'm staring at notes on my spring break. It is an incentive to study harder and get out in 3.5 to 4 years instead of 5-6. There is another option a buddy of mine stayed at home for 3 years and worked for a
farmer and saved up the money for college or there is always the military.



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Posted by Powerman on 3/16 at 2:14 pm to WeeWee
quote:

See my post about dropping classes,

Right

But your personal story about motivation shouldn't have anything to do with public policy

If you want people burdened with more debt because of higher tuition then you have some backwards priorities for how you think the world should be. And I'd dare say that you aren't getting much of an education if that's the way you think.



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Posted by Interception on 3/16 at 2:14 pm to Powerman
How much would it cost to pay off all the student loan debt in the US? I'm wondering what benifits that would give the US economy?

I want to say the total student loan debt is ~1 Trillion Dollars

ETA: I have no student loan debt. Im just wondering what would happen?


This post was edited on 3/16 at 2:15 pm

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Posted by Powerman on 3/16 at 2:17 pm to Interception
quote:

How much would it cost to pay off all the student loan debt in the US?

Roughly 1 trillion

quote:

I'm wondering what benifits that would give the US economy?


I don't know. But we definitely don't need to be forgiving those debts for people that are making 400K a year.



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Posted by Interception on 3/16 at 2:20 pm to Powerman
quote:

I don't know. But we definitely don't need to be forgiving those debts for people that are making 400K a year.


I don't know but my feeling is we have spent money bailing out people less deserving than college students.



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Posted by WeeWee on 3/16 at 2:31 pm to Powerman
quote:

But your personal story about motivation shouldn't have anything to do with public policy


SO what do you want 50,000 links discussing the pros and cons of higher vs lower interest rates of student loans? You brought one person's opinion into the thread and I'm giving you mine.

quote:

If you want people burdened with more debt because of higher tuition then you have some backwards priorities for how you think the world should be. And I'd dare say that you aren't getting much of an education if that's the way you think.


Thats the problem with you libtards when you can't come up with a reasonable response you just attack your opponent. You have no idea how much of an education I am getting (unless you are a graduate of Mississippi College's Masters of Medical Science program).

There are other ways to par for college than just student loans (work a semester go to school a semester, work before and save up the money, join the military, or parents can save up enough to help pay for their childs education, etc)



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