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Mr Personality
Cal State Fullerton Fan
Deep in ya throat
Member since Mar 2014
20313 posts

re: Cancel student debt for nearly everyone?
I have student loans I don’t want to pay back. Sounds good to me.


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726
Remo Williams
USA Fan
The Home of the Brave
Member since Dec 2010
652 posts

re: Cancel student debt for nearly everyone?
But math.


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40
Joshjrn
LSU Fan
Baton Rouge
Member since Dec 2008
14535 posts

re: Cancel student debt for nearly everyone?
As mentioned on this thread, the issue is the interest rate, particularly for graduate students. 7% for an attorney for a debt that can’t be discharged in bankruptcy is just silly. I’ve paid over $30k towards my loans and my balance is higher today than when I graduated.


MrLSU
LSU Fan
New York/New Orleans/Melbourne/30A
Member since Jan 2004
14071 posts

re: Cancel student debt for nearly everyone?
Will this come with a $10k a month living wage too?


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41
Smeg
Member since Aug 2018
3230 posts

re: Cancel student debt for nearly everyone?
quote:

 I’ve paid over $30k towards my loans and my balance is higher today than when I graduated.

What are you paying per month, the absolute minimum? Same thing will happen with a credit card, with any loan.


DeafJam73
LSU Fan
Baton Rouge
Member since Sep 2010
15123 posts

re: Cancel student debt for nearly everyone?
And we’ll be paying that back with taxes. It all comes full circle.


Mr Perfect
Lamar Fan
Member since Mar 2010
11189 posts

re: Cancel student debt for nearly everyone?
sure is but millionaire bankers got bailed out.. where were you to whine about that dude?

so f em and f this soy arse society and f you too dude


Privateer 2007
UNO Fan
Member since Jan 2020
60 posts

re: Cancel student debt for nearly everyone?
quote:

particularly for graduate students


Maybe we should get rid of graduate programs where students pay tuition?

Graduate school should all be research based.



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40
Smeg
Member since Aug 2018
3230 posts

re: Cancel student debt for nearly everyone?
quote:

 f you too dude

F me?
F you. I took out loans. I paid them all back.

The real "F you" will be if student loans are forgiven and irresponsible people are rewarded by being given what
people like me earned by working hard, saving, and paying off our loans instead of enjoying the money.

To forgive these loans is basically spitting in the face of those who sacrificed to pay them off. It's essentially saying "you're a sucker for working those extra hours and not buying that newer car you wanted. You could have fricked off and you'd be in same place, financially, right now."


shamrock
Ole Miss Fan
Baton Rouge
Member since Sep 2015
2777 posts

re: Cancel student debt for nearly everyone?
Grow up playa and embrace responsibility


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200
TD SponsorTD Fan
USA
Member since 2001
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Jake88
George Mason Fan
LSU/Saints Fan
Member since Apr 2005
40549 posts

re: Cancel student debt for nearly everyone?
Trashy to not pay what you owe. But, then, trashy defines the Left.


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212
TexasTiger89
LSU Fan
Houston, TX & Kuala Lumpur
Member since Feb 2005
18677 posts

re: Cancel student debt for nearly everyone?
quote:

to others who did not agree to the loan.


Otherwise known as tax payers.


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170
Mr Perfect
Lamar Fan
Member since Mar 2010
11189 posts

re: Cancel student debt for nearly everyone?
where were you to whine about auto bailout or banker bailout?

didn't hear a peep from your arse then did we..


Smeg
Member since Aug 2018
3230 posts

re: Cancel student debt for nearly everyone?
I believe in the free market. I don't believe we should subsidize failure. I'm not for bailing out companies that can't sustain themselves. Doesn't matter if it's a car company or the USPS. If it can't support itself, then it doesn't need to exist. The market will find a way for something more efficient and profitable to replace it.


volod
Southern Fan
Leesville, LA
Member since Jun 2014
4839 posts

re: Cancel student debt for nearly everyone?
quote:

WASHINGTON (AP) — Presidential candidate Elizabeth Warren says she’d order her secretary of education to cancel up to $50,000 in college debt for about 95% of student borrowers on her first day in office, effectively erasing outstanding loans for about 42 million Americans.


The problem isnt that students owe loan money that they borrowed. It is that college tuitions have skyrocketed to absurd heights largely due to guaranteed monies from government.

My interpretation is going to ruffle feathers. Here goes:

Prior to the 1950s, college was kept in check by the market. This is because few people could afford to go. It was also a socioeconomic metric as only really rich or really smart people could go (not to mention the civil rights issues involved).

Once the GI Bill was introduced, college attendance exploded. And once the government saw how easily financing education could guarantee profit (ie loans cant be bankrupted away) they decided to dominate the market.

This lead to more people earning degrees. So most degrees have less value save all but the most rigorous or selective programs. And even those are full of competition and subject to economic problems.

But what compounded the growing problems was that industry made degrees the de facto hiring mechanism. Larger companies in particular love to use it as a mechanism to weed out candidates.

There are business owners on here who will disagree with me. But the question isnt if a handful of small companies do it. Its if the majority of large companies do it. And if said companies are hiring positions that are non-collegiate (restaurants, manual laborer, etc.) then this has no effect on those industries.

Also, the colleges themselves increased what they asked for to the point where half of the tuition has NOTHING TO DO WITH THE ACTUAL EDUCATION. The cost has reached a point where working a part time time job making minimum wage still doesnt cover the expenses at your average state University.

There are ways to mitigate this. 2 year community college then transfer to 4 year. Or possibly go to your local university (assuming they have a program you're interested in).

I doubt most people just want to be in crushing debt. The truth is that even more responsible people going to college have difficulty paying off loan debt along with other facts of life (cars, home, kids, etc.)

I'm not "making excuses" for anyone. But I am focusing on the reality of the situation. You aren't going to make everyone prioritize or think the same way you do.


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Mr Perfect
Lamar Fan
Member since Mar 2010
11189 posts

re: Cancel student debt for nearly everyone?
oh weird. college isn't a free market system since the feds got involved so why you out here supporting them gouging students? explain it dude. you're a walking arse contradiction


volod
Southern Fan
Leesville, LA
Member since Jun 2014
4839 posts

re: Cancel student debt for nearly everyone?
quote:


I believe in the free market. I don't believe we should subsidize failure. I'm not for bailing out companies that can't sustain themselves. Doesn't matter if it's a car company or the USPS. If it can't support itself, then it doesn't need to exist. The market will find a way for something more efficient and profitable to replace it.


So did you disagree with former President Bush, because that's exactly what he did with Ford and GE.

I'm pointing that out because it's a fair criticism that Republicans love to bash Democrats for policies helping regular people, but bend the knee to bail out corporations for bad decisions and pay a private enterprises with public funds.

If you are bipartisan on this, I agree with you.


Smeg
Member since Aug 2018
3230 posts

re: Cancel student debt for nearly everyone?
quote:

college isn't a free market system

Sure it is. You can choose to invest in an education or not. You can go to work right out of high school if you wish. You can invest a little in a trade school or a lot and get a PhD. It's up to you to weigh the costs and benefits of each option.

If you invest in a degree that doesn't reward you enough to pay off the loan... Maybe that program shouldn't exist.

You agreed to the terms of the loan when you took it out. Just like agreeing to the terms of a credit card. If you rack up debt and can't pay it off, don't expect someone else to foot the bill.


Smeg
Member since Aug 2018
3230 posts

re: Cancel student debt for nearly everyone?
quote:

So did you disagree with former President Bush, because that's exactly what he did with Ford and GE.

I just told you I don't believe in government bail outs. If Ford can't compete because other automobile companies can make vehicles that more consumers want to buy... sorry? Ford has to be profitable in it's own. It has to find it's own niche. Either it has to be more efficient and make similar cars cheaper than it's competitor or make high end cars that justify the price tag. The market will always determine everything. Nothing good comes from supporting something that can't support itself. This applies to almost anything. The government shouldn't be subsidizing solar panels, etc..


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131
LuckyTiger
Minnesota Fan
Someone's Alter
Member since Dec 2008
15451 posts
 Online 

re: Cancel student debt for nearly everyone?
WASHINGTON (AP) — Presidential candidate Elizabeth Warren says she’d order her secretary of education to cancel up to $50,000 in college debt for about 95% of student borrowers on her first day in office, effectively transferring outstanding loans for about 42 million Americans to taxpayers.


There you go, fixed.


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