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Started By
Message
Erasing student debt
Posted on 4/12/22 at 2:38 pm
Posted on 4/12/22 at 2:38 pm
At work, if I'm in charge of something, I have to fix the problem. I cannot pass the buck to someone who had nothing to do with it.
Incompetence and corruption is why higher education in this country doesn't produce an ROI. That's on leadership - Democrats and our feckless GOP. A secondary reason is of course the people with useless degrees who think the economy owes them
Making blue collar workers and college graduates who paid off their student loans foot the bill with their tax dollars is an admission of guilt that leadership has no answer to the skyrocketing costs of education and also and admission that they won't even try. Where then would be the accountability if they did that? Also - since they're not addressing the costs, are we going to have to do this again in 8-10 years. Is this the new American way, we'll have to have a jubilee every decade to wipe out student debt? Or, as usual, are they not thinking ahead like you or me might?
I work in the industrial sector - power plants, a mill, and now manage infrastructure on a massive farm with its own electric grid, generation, SCADA, and a fleet of large well pumps (up to 2,000 Hp). I don't want my children going to college even though I did since it's no longer economically rewarding. I want them learning a trade - electrician, welder, etc - and if they want to be in management, then they can work their way up while possibly taking coursework in the evenings, after they've gotten some practical skills under their belt.
Directly hiring motivated kids right out of high school and having them mentor under an engineer while earning their degree at night is the way to go. The private sector should open pathways since leadership failed and allowed college to become a ripoff. Meanwhile, that will force colleges to compete if they want to stay relevant - get rid of junk courses and trim costs.
Incompetence and corruption is why higher education in this country doesn't produce an ROI. That's on leadership - Democrats and our feckless GOP. A secondary reason is of course the people with useless degrees who think the economy owes them
Making blue collar workers and college graduates who paid off their student loans foot the bill with their tax dollars is an admission of guilt that leadership has no answer to the skyrocketing costs of education and also and admission that they won't even try. Where then would be the accountability if they did that? Also - since they're not addressing the costs, are we going to have to do this again in 8-10 years. Is this the new American way, we'll have to have a jubilee every decade to wipe out student debt? Or, as usual, are they not thinking ahead like you or me might?
I work in the industrial sector - power plants, a mill, and now manage infrastructure on a massive farm with its own electric grid, generation, SCADA, and a fleet of large well pumps (up to 2,000 Hp). I don't want my children going to college even though I did since it's no longer economically rewarding. I want them learning a trade - electrician, welder, etc - and if they want to be in management, then they can work their way up while possibly taking coursework in the evenings, after they've gotten some practical skills under their belt.
Directly hiring motivated kids right out of high school and having them mentor under an engineer while earning their degree at night is the way to go. The private sector should open pathways since leadership failed and allowed college to become a ripoff. Meanwhile, that will force colleges to compete if they want to stay relevant - get rid of junk courses and trim costs.
Posted on 4/12/22 at 2:41 pm to Browncd81
But how are the women's studies, LGBT, BLM crowd ever going to become our government leaders?
Posted on 4/12/22 at 2:44 pm to Browncd81
quote:
get rid of junk courses and trim costs.
That's a start, but what they need to get rid of are the easy student loans to people who aren't qualified to repay them. Do that and the universities will have no choice but to trim costs.
Posted on 4/12/22 at 2:52 pm to AUHighPlainsDrifter
Here is a solution.
Up to $50k in student loans will be paid by the government. Any more than that and you did a crappy job of picking a college that afforded some value.
Upon agreeing to that deal, the former student agrees to pay an additional 5% on their federal income taxes every year until it has been repaid.
Current burden is removed
Interests charges go away
5% isn’t going to kill you if you have a real job.
People who saved and paid for college are not being completely disrespected.
$50,000 cap may create some downward pressure for tuition as parents and students become more cost conscious when picking schools and majors to pursue.
I am afraid the alternative is a big giveaway with no claw back.
Up to $50k in student loans will be paid by the government. Any more than that and you did a crappy job of picking a college that afforded some value.
Upon agreeing to that deal, the former student agrees to pay an additional 5% on their federal income taxes every year until it has been repaid.
Current burden is removed
Interests charges go away
5% isn’t going to kill you if you have a real job.
People who saved and paid for college are not being completely disrespected.
$50,000 cap may create some downward pressure for tuition as parents and students become more cost conscious when picking schools and majors to pursue.
I am afraid the alternative is a big giveaway with no claw back.
Posted on 4/12/22 at 2:59 pm to Browncd81
quote:
pass the buck to someone who had nothing to do with it.
The M.O. of our federal government since WW2.
Posted on 4/12/22 at 3:04 pm to LSUBadger
Even better solution:
You took out a loan, (rather than working and paying as you go), now fricking pay it back.
You took out a loan, (rather than working and paying as you go), now fricking pay it back.
Posted on 4/12/22 at 3:09 pm to LSUBadger
quote:As a parent with a child with some college debt (<20K), this sounds like a decent compromise and shows evidence of a workable, sensible solution to the problem - which naturally means that
Up to $50k in student loans will be paid by the government. Any more than that and you did a crappy job of picking a college that afforded some value.
Upon agreeing to that deal, the former student agrees to pay an additional 5% on their federal income taxes every year until it has been repaid.
Current burden is removed
Interests charges go away
5% isn’t going to kill you if you have a real job.
People who saved and paid for college are not being completely disrespected.
$50,000 cap may create some downward pressure for tuition as parents and students become more cost conscious when picking schools and majors to pursue.
quote:is what our braintrust will end up choosing.
a big giveaway with no claw back
Posted on 4/12/22 at 3:13 pm to LSUBadger
quote:
Up to $50k in student loans will be paid by the government.
The government has no money. Just say "taxpayer," because ultimately that's who is paying for it.
Posted on 4/12/22 at 3:20 pm to Browncd81
quote:
Browncd81
Wow, an actual decent and intelligent take on the issue... not just "the kids need to pay back their damn debt".
Thank you.
The problem is every part of society wants the college experience to do something for them.
Businesses want colleges to train and prepare future white-collar workers
Hippy liberals want colleges to about exploration and finding yourself
The ivory tower class wants colleges to be about developing the ability to read, write, and think at a higher level
High schools want colleges to be available to everyone, so they can use that as a carrot / stick to motivate high schools students
Parents want college as a way to start kicking the kids out of the house
And kids want college as a way to get away from their parents while still having a cash flow from them
Posted on 4/12/22 at 3:20 pm to LSUBadger
quote:
People who saved and paid for college are not being completely disrespected.
quote:
LSUBadger
Was your tuition paid for by TOPS?
Posted on 4/12/22 at 3:30 pm to Browncd81
Or…… we could bust some knee caps and raise the vig
Posted on 4/12/22 at 3:43 pm to WildTchoupitoulas
Speaking of TOPS, how about a national lottery to cover the costs? For the record, I’m opposed to lotteries, but they’re here to stay. My only input would be that you get no relief if you didn’t finish the degree.
Posted on 4/12/22 at 3:45 pm to FearlessFreep
quote:
As a parent with a child with some college debt (<20K), this sounds like a decent compromise and shows evidence of a workable, sensible solution to the problem - which naturally means that
quote:
a big giveaway with no claw back
is what our braintrust will end up choosing.
What if you wiped out your child's college debt yourself and asked them to pay you back interest free? At least you have some benefit from your child being educated so you have skin in the game.
And if the answer is you'd like to but can't afford it - why should my millwrights and electricians have to?
Interest charges do not go away - they get transferred to the taxpayers via increased service on the national debt that is added by fronting up to $50k. This solution is merely sweeping the costs under the rug.
The answer - fix the costs and vote out everyone who did nothing about college going out of control on their watch. And one of the solutions above is correct - the government guaranteed loans. Another solution is to bypass full-time overpriced higher education (ie, competition) with direct paths from high school while taking night classes
Posted on 4/12/22 at 3:48 pm to Browncd81
This is just as stupid as "cancel rent"
Posted on 4/12/22 at 3:50 pm to djmed
quote:
This is just as stupid as "cancel rent"
Exactly. There's a solution for that one too - build more housing
Posted on 4/12/22 at 3:52 pm to Browncd81
Easy solution...pay your f'ing bills
I don't care if they majored in Gender Studies, Ethnic History, Sociology, or Journalism.
There should be a caveat to Student Loans. Pay your bill or serve how ever many years it took to graduate or flunk out.
I don't care if they majored in Gender Studies, Ethnic History, Sociology, or Journalism.
There should be a caveat to Student Loans. Pay your bill or serve how ever many years it took to graduate or flunk out.
Posted on 4/12/22 at 3:58 pm to Bamafig
People who actually paid their way through college want to know the difference between having your college paid for by taxpayers through TOPS, and having your college paid for by taxpayers through loan forgiveness.
Posted on 4/12/22 at 4:13 pm to WildTchoupitoulas
Did it the old fashioned way. Worked my way through school.
Posted on 4/12/22 at 4:14 pm to Browncd81
quote:This is dumb. Are you suggesting engineers, accountants, doctors, etc. don't get economically rewarded?
I don't want my children going to college even though I did since it's no longer economically rewarding
Posted on 4/12/22 at 4:24 pm to LSUBadger
quote:
Did it the old fashioned way. Worked my way through school.
Do you feel that the students who had their tuition paid for with TOPS somehow disrespected those of us who paid ourselves?
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