At least half of students defaulted or failed to pay down debt within 7 years

$1? damn...

That being said cost of college is outrageous and it's growing rapidly. Something needs to be done and quickly.

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Thoughts?

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It's almost unbelievable. Almost. But there are so many deferment programs, interest only repayment options, etc. It's frankly ridiculous.

I think student loan forgiveness is insane, but we did bank loan forgiveness for all intents and purposes, so it's hard for me to get upset about the idea.

It's kind of ridiculous to take out massive loans for undergrad in the first place. If the parents can't afford the school and you can't get scholarships, then go to a cheaper school or go to a community college for two years before transferring. Graduate school or professional school is a different story because scholarships are hard to come by plus hopefully you're setting yourself up to make a good income with which to pay off those loans.

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Thoughts

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Offer a dumb 18-22 year old a government backed loan he doesn't have to start paying until after he graduates and tell the school that they can charge whatever they want because there is no limit to the loan amount and you end up with some serious issues.

Schools need to tighten enrollment and evaluate waste.

With 100% approved government backed loans schools have become bloated in every aspect.

And you get kids coming out into a job force expecting years of experience.

You can't take an entry level job making 40-50k if you have 20k a year loan payments which leads to all kind so other problems.

Cut at least half the Universities in the US and allow only the cream of the to attend while also getting rid of useless degree programs like gender studies and liberal arts. Then build up trade and technical schools to build a better workforce. Next ensure that Student Loans are not government backed. Doing this will stop the madness of allowing 18 year olds to mortgage their future for a degree program that will not be worth it in the long run and it will also force kids to think about how much student loans they will take. The US needs to approach education differently and not sell the "college experience."

Well, that number or more are underemployed, so it's not surprising. At a moderate standard of living, normal bills alone are $1500/mo.

I still have no idea why books cost so much. I had to pay $340 for a textbook once. Most books are $120 minimum. And now you have even in-state public tuition costing $15k/yr for only two semesters, and that's a lot of money.

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In a country and work environment that has problems finding good candidates for open positions

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This is not true at all

What sucks is I pay 2k a month for my student loans. Have a good job and career in a place i love. However I make too much money for me to write off my loan interest . That's not fair at all for me to be successful and I can't write them off. This needs to be changed

How many foreclosures do we have?

Let's just forgive those loans!

How many vehicles are repoed every year and still owe money?

shite let's forgive that too!

No responsibility for anyone.