re: Almost 20,000 students ask to have student debts erased

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The people in industry that require a 4 year degree for things that don't need them. Sales for starters

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There's a ton of well paying jobs available out there that do not require a four year degree. Might have to get your hands dirty though which I'm sure to you is "trashy".

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For loans the size necessary to take care of the costs of going to school these days, yes. Especially with the lack of education on the subject provided by the financial aide departments, which again you have no clue about apparently.

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Interesting. So you they're not mature enough to take out loans because they cannot comprehend that they'll have to one day repay that loan. So, does this mean you don't consider an 18 year old an adult? Should we take back their right to vote? I man, if they cannot do something as simple as take out a loan, how can they be expected to be able to make an intelligent decision when it comes to our political leaders?

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Who should be responsible for taking out, and ultimately paying off, these loans? The stupid boomer parents who were too selfish to save for their kids' education? I'm a bit fuzzy on your vision of how this process should work.

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I believe he thinks the money should just come from the magical money tree (government) and nobody have to pay it back. They can always just print up more money, right?

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Who should be responsible for taking out, and ultimately paying off, these loans? The stupid boomer parents who were too selfish to save for their kids' education? I'm a bit fuzzy on your vision of how this process should work.

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The students themselves. The biggest issue is that there should not be federally backed loans.

Two things:

1. All loans should be through private insurers.

2. Bankruptcy should be allowed.

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I sound like a grumpy old man

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you and Darth not only sound like grumpy old men, but also willfully ignorant. No one is denying that personal responsibility matters. But if you truly believe that's where this starts and ends, then you are intentionally turning a blind eye to an epidemic. As the auburn fan said earlier, this is very much like the housing market crash of 2008. Sure, those people shouldn't have bought those homes that were outside of their means. But we later learned that not only was that a problem, but there was an entire chain of events leading to that.

This is not a subject where you can claim occam's razor. It's just not.

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Off topic but similar circumstance so kind of related. Ive been putting of buying a sailboat for the last 10 years. I can get the 300,000 loan no questions asked but cant afford to pay it back in reality after slip rentals , storage dry dock etc. should I just bite the bullet and get it?
i mean if things get too tough I can just walk away from it right?

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You should learn how to form a sentence before knocking people taking out loans for school. Looks like you need them more than anyone else here.

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The kid, but there should be some education before hand

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OK, Here's your education...

If you take out a loan, you will have to pay it back in full and with interest. And before signing the loan you should understand all the fees, penalties, and most important of all, the interest on the loan. Don't just look at the initial monthly payments, look at how much it will eventually cost you to pay off the entirety of the loan. Now weigh that amount against your goal for that loan and make sure the loan is worth taking out for what you want to use it for. And finally, all the information I just listed that you'll need is clearly spelled out in the terms of the loan. Read them before you sign. You can read I assume.

There, now you've been educated. And you didn't even have to take out a student loan this time. You're welcome.

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you just don't understand how simple it is to get these giant loans with basically no explanation

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I understand it perfectly. And I think it's shitty.

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The kid, but there should be some education before hand.

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Good, we completely agree. I have been of the opinion that personal finance should be a required course in every high school in the country forever. Unfortunately, I'm not on any school boards. But the idea that the people who took out the loans shouldn't be responsible for paying them back is not acceptable. If you are making life-changing decisions about your future, shouldn't you do a little investigation on your own before deciding to take out enough loans to get that gender studies degree from Swarthmore?

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I really love how you think that wall of text was necessary for me. So where did you go to college? We're all dying to know.

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He didn't go to college. That is where he gets his sense of superiority from in these threads.

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The difference between college loans and your loan is that it hasn't been beaten into the brains of all children over the last 40 years that buying a sailboat is required to be successful in American society.

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That is what they don't get.

When you grow up and for 12 years you are constantly told that you HAVE to go to college no matter what to succeed in this world, you are going to go to college and take the loans no matter the cost.

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now you've been educated

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Do you have any clue how any of this works with federal loans?