re: Cancel student debt for nearly everyone?

But math.

Will this come with a $10k a month living wage too?

And we’ll be paying that back with taxes. It all comes full circle.

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particularly for graduate students

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

Graduate school should all be research based.

Grow up playa and embrace responsibility

Trashy to not pay what you owe. But, then, trashy defines the Left.

where were you to whine about auto bailout or banker bailout?

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

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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.

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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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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.

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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.

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

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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..