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

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what a privilege to be in that position.

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I agree. My parents sacrificed a lot to provide that for me. I'm doing the same for my kids. It makes me sad that so many parents are too selfish to help advance their kids' lives. That still doesn't excuse the reckless path of massive student loan debt.

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My parents paid for college

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you should recuse yourself from this thread. I'm happy for you. But it's hard to talk about a process with someone who has never been involved in that process.

I wish I was nearby so I could put my foot up your stupid arse.

I see that. With your user name you must be ok. I own property a couple miles from Cades over in Wears.

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you should recuse yourself from this thread.

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I've never played D1 college football either. Yet I still have the audacity to post on a sports board too. I'm a pretty smart guy, I can figure out things I haven't actually done before. I'm also genuinely curious about where this complete reversal of thinking between generational groups comes from. I'm trying to understand rather than just blindly hate. It is pretty challenging sometimes though.

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I've never played D1 college football either. Yet I still have the audacity to post on a sports board too.

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I'm sure you can't speak on how recruitment works for a D1 athlete, or what it's like to balance a D1 schedule with school.

Yes, you went to college and understand how loans work. But without being involved in the actual process of applying for a loan, attempting to understand your contract, dealing with financial aid and the idiots they employ, etc..you just don't get it. You can try, but some things can only be learned through experience. Just be happy you didn't have to because you had good parents.

I'll be the first to say I was absolutely mislead and absolutely had to deal with someone who knew less than I did at times within the financial aid department. I could have done more, and probably should have. But I didn't understand things at 18 that I do now. I'm still going to pay my loans, because I can.

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And they approved those hikes because they knew that every May a fresh crop of idiots would come out of high school and be willing to pay it. And they'll keep on hiking those prices up until they finally reach a level people are unwilling to pay.

You see, the funny thing about the free market is the owner of a product will always charge the maximum for their goods or service the market will support. Once the price of their goods or services moves beyond what the market will support, that owner will either have to lower their price or go out of business.

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You are 100% right and 100% wrong in the same post. Congrats.

The market will not find equilibrium until it crashes because the people taking on the absurd tuition rate hikes are not the ones having to pay those costs. This is not a free-market problem in the slightest - this is what happens when the federal government turns on the monetary faucet. It was a huge issue in the housing market crash and it is again with the student debt bubble.

In the simplest terms think of it like a credit card vs. a cash purchase. You're more inclined to buy shite you don't need at prices you can't afford if you're allowed to pay it back over time. If you have to go directly into your checking account all of a sudden you don't need 4 new polo shirts. The biggest difference is that instead of paying interest based on your creditworthiness, the federal government blindly gives out the money regardless of your ability to pay it back.

When money comes easy it goes easy. Millenials are spending it and every generation older than them keeps the money coming - sort of a chicken or the egg scenario.

I get the generational changes that occur but things just seem to be flying down the hill.

My Mother paid what she could, I got some scholarship money, and I worked part-time during college. I don't understand why these folks rack up such debt. It must be the divorce rate, absent Father's, global warming, ethanol....the movement to shitty country music maybe?

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Are you seriously going to sit here and act like you had it all figured out at 18?

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i was smart enough at 18 to understand that going to an elite university at $30-40k/year was too expensive of a choice when i had an OK-average university offering to pay me to go there