re: Democrats' $50,000 student loan forgiveness plan

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TOPS has enabled thousands and thousands of people to benefit from socialized higher education. It's a safe bet that most of the posters here that attended LSU benefited from near-free college tuition. I'll take the downvotes, but we have no room to talk.

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It's at least merit based. It should definitely have higher standards though.

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All funded by Uncle Sugar guaranteeing loans.

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This was one of the dumbest decisions that our government has made, and they double down on it by just allowing universities to raise tuition at will. Anyone with a brain can see the issue here, but no one wants to do anything about it.

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You want to know why tuition has exploded over the past fifteen years? Look at the size of the administration of any major university back then compared to now.

You'll find your answer real fricking quick. All funded by Uncle Sugar guaranteeing loans.

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Probably track the Professor's salaries too. I know first hand professors making 150-200k who teach a class or two and don't seem to do shite. With visibly a more time for recreation than I have.

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I’ve paid 1800$ a month for 9 years and still have 40k plus... I’ll gladly take the money. Tired of paying for 2 homes and one I don’t live in. Yes I knew the costs upfront, I make good money but I’m not going to turn down a bailout

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I don't blame anyone who is happy about getting the bailout (if it happens). I blame the fricking government for handing it out. Whether or not you would be happy about it doesn't affect the decision of our government

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Probably track the Professor's salaries too. I know first hand professors making 150-200k who teach a class or two and don't seem to do shite. With visibly a more time for recreation than I have.

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That's generally the exception to the norm. There has been an ever increasing push to limit tenured professors and hire adjunct professors. Less money, easier to get rid of if they don't toe the administration line.

Not to say there aren't tenured professors leveraging this shite to jack up their pay and limit competition by strangling any younger tenure track profs.

About 160k loan and interest on 2 48k loans were at 6+ at the time through the federal plus loans. You don’t realize how much interest I’ve paid

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You want to know why tuition has exploded over the past fifteen years? Look at the size of the administration of any major university back then compared to now.

You'll find your answer real fricking quick. All funded by Uncle Sugar guaranteeing loans.

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absolutely. i worked for a decent sized k-12 district in texas as a network coordinator. i started in january 2009 and by the time i jumped over to the private sector in 2014, the administration had grown by 20%. we added 3 new superintendent positions and multiple director positions.

one of the most hilarious things i saw was that there was a principal who just flat out sucked and they made a position for him in facilities to be the "green director."

6 figure salary. he reported in his first year that they saved $80k in electricity costs. they literally lost money on him being in that position, and that's not including the multiple 100k system i installed for him that turned off lights and watering. on top of the thousands he spent to print off signs to "turn off the lights in empty rooms" by every single light switch in the school district.





i'm all about being green and saving the tax payers money but that sort of cronyism ended my adoration of working for the government.

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Probably track the Professor's salaries too. I know first hand professors making 150-200k who teach a class or two and don't seem to do shite. With visibly a more time for recreation than I have.

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Where is this at? Just curious.

Here, almost all of the major Universities and even CCs have phased in part-time adjuncts that get paid next to nothing. The only ones seeing that kind of salary are specialty professors and there aren't many. Half of the HS teachers I work with are also adjuncts at the CC up the road.

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These people were never told that only specific loans qualified

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I agree that lenders didn't do much at all to help these people, and in some cases gave wrong advice.

However,the rules have been out there awhile as to requirements for the loans to be in Direct Lending Program and exclusion of private and certain perkins loans.

The US Dept of Ed has also recommended since at least 2009 that people certify employment each year to make sure they are progressing towards the 120 payments.


* Annual certification also gives you a better due process argument on any changes made to program by Feds or Congress.

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I mean, it's a solution to A problem, but I do agree it doesn't really address the underlying problem of out of control higher education costs.

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Universities will see this bailout and continue charging higher tuition (and fees) because now people will be even more willing to take out larger loans because the government will eventually bailout those future loans.

Government solutions to solve a problem created by previous government solutions. What could go wrong?