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re: Why are most of you so aginist student loan forgiveness?
Posted on 3/25/20 at 4:12 pm to TH03
Posted on 3/25/20 at 4:12 pm to TH03
quote:
What other bills do you have, specifically luxury items or necessities that you opted for upgrades on?
I'm not saying I couldn't, personally, afford to pay more. I'm not because it wouldn't make financial sense for me in my particular circumstance. I'm simply explaining the paradigm for a great many borrowers.
0
Posted on 3/25/20 at 4:13 pm to RocketPower
fricking whining deadbeats.
Posted on 3/25/20 at 4:13 pm to Epic Cajun
quote:
Is there any proof that increased undergraduate degrees increase government revenue?
Sure, look at the average salary of a person who has a degree, versus the average salary of someone who doesn't.
Well, if I look at that it doesn't support your position. I can look at average federal tax receipts over the last 100 years and see that they have fluctuated between 15-20% of GDP consistently regardless of the amount of undergraduate degrees in the workforce.
Posted on 3/25/20 at 4:13 pm to Antonio Moss
quote:
Almost exact same track for me. Same school and came out with around $100K Paid it off in five years.
Kudos, man. That's some discipline
Posted on 3/25/20 at 4:14 pm to RocketPower
Then pay off my mortgage bitch!
Posted on 3/25/20 at 4:14 pm to cardswinagain
quote:
Did the OP cut and run?
That's the MO in a troll thread
Posted on 3/25/20 at 4:16 pm to RocketPower
Because it doesn’t fix the problem. I am for it if they also change the way it is done.
Examples: loans tied to degree or future income.
Examples: loans tied to degree or future income.
Posted on 3/25/20 at 4:16 pm to TimeOutdoors
quote:
I am just going to assume this is a troll post
Yeah it has to be.
I’m 9 pages in and don’t think OP has been back since The first post.
Posted on 3/25/20 at 4:16 pm to RocketPower
quote:
How does it affect you and dont say showing responsibility. Most of you went and got a full 4 years degree for what we paid for a semester's meal plan
And we wonder why we're in the shape we're in.
Posted on 3/25/20 at 4:17 pm to Joshjrn
quote:
Kudos, man. That's some discipline
It really wasn't super difficult. Paid mortgage, hit match on my 401K, and had a fairly conservative budget. I took every extra penny and stuck into a savings account and as soon as it reached the payoff amount for the loan with the highest interest rate, I cut a check. It started slow because a lot of my income was being eaten up by minimum payments on the student loans. But as they began to fall, I was paying each loan quicker and quicker.
Posted on 3/25/20 at 4:17 pm to Antonio Moss
quote:Because there are a ton of other factors that go into that over a 100 year span.
I can look at average federal tax receipts over the last 100 years and see that they have fluctuated between 15-20% of GDP consistently regardless of the amount of undergraduate degrees in the workforce.
Look at an average person who has no degree in 2019, versus an average person who has a degree in 2019. Which one do you think paid more in taxes?
Posted on 3/25/20 at 4:18 pm to Antonio Moss
quote:
It really wasn't super difficult. Paid mortgage, hit match on my 401K, and had a fairly conservative budget. I took every extra penny and stuck into a savings account and as soon as it reached the payoff amount for the loan with the highest interest rate, I cut a check. It started slow because a lot of my income was being eaten up by minimum payments on the student loans. But as they began to fall, I was paying each loan quicker and quicker.
Then kudos, because it sounds like you were making bank
Posted on 3/25/20 at 4:20 pm to Epic Cajun
Not paying back your student loan makes you a liar and a thief.
Posted on 3/25/20 at 4:20 pm to RocketPower
I served in the military to afford college. Sorry you’re Gender Studies degree isn’t all you thought it would be.
Posted on 3/25/20 at 4:22 pm to Antonio Moss
quote:
First, there are a lot worthy causes that should get pretax relief compared to student loans - like private school tuition payments for dependents.
lol.
quote:
When you grant pretax relief, you reduce government revenue
Good.
quote:
leads to taxes in another area
Not necessarily true
quote:
more government debt.
Literally no one who makes any of these decisions care about that.
quote:
Second, from an economics perspective, government loans have saturated the higher education market driving tuition prices through the roof. Allowing pretax payments only magnifies this problem.
Third, affordable student loans have devalued undergraduate degrees which have negatively affected employment. Many jobs whose skill sets do not require college education still require an undergraduate degree simply because so many people already have them.
Make the loans dischargeable in bankruptcy with colleges accepting federal loans on the hook for a portion that goes unpaid. College admissions will get competitive real fricking quick.
Posted on 3/25/20 at 4:22 pm to Nawlens Gator
quote:Are you a troll, or retarded?
Not paying back your student loan makes you a liar and a thief.
I don't have a student loan, and haven't once advocated for forgiving student loans in this thread (or anywhere).
Posted on 3/25/20 at 4:24 pm to RocketPower
Just here to downvote OP.
Posted on 3/25/20 at 4:28 pm to Epic Cajun
quote:
Because there are a ton of other factors that go into that over a 100 year span.
Look at an average person who has no degree in 2019, versus an average person who has a degree in 2019. Which one do you think paid more in taxes?
This is a huge fallacy. Would that average salary be any different with out the sheet of paper?
Take a run of the mill office manager making the bachelor's degree average of $60,000. That job has no skill set necessary from upper education. The only reason its required and why he has it, is because the labor pool is flooded with unnecessary bachelor degrees. The median salary (adjusted for constant dollars) has held close to inflation.
Posted on 3/25/20 at 4:35 pm to Antonio Moss
quote:There is no way to determine an accurate answer to this. The fact (not an opinion or guess), is that the average worker with a degree in 2019 makes more money than the average worker without a degree.
This is a huge fallacy. Would that average salary be any different with out the sheet of paper?
Posted on 3/25/20 at 4:39 pm to RocketPower
The loans should be forgiven and the system turned upside down. State colleges need to be free like K-12 is but with admissions based on SAT and GPA.
Private colleges available for those who want specialized education or can't get into the state universities.
Who says the educational system has to stop at 12th grade? With free admission to state universities, the privates would have to cut tuition costs to compete for students.
Higher education needs to be free for those who want it and qualify academically.
The Sallie Mae BS jacked up tuition to astronomical levels. I went to school in the Dinardo Era and tuition and fees were high but still affordable. The cost of a college education now is ridiculous and has greatly outpaced inflation. The system is broken with it's only purpose to make the elite rich and enslave new grads with the burden of $200k of loans.
Regarding the OP, college tuition costs are egregiously inflated and the loans are BS and should be forgiven. For those of you who just paid off your $120k of loans, I'm sorry, tough luck but just because you got ripped off doesn't mean it's okay to rip off the next class of students. At some point it needs to end.
Private colleges available for those who want specialized education or can't get into the state universities.
Who says the educational system has to stop at 12th grade? With free admission to state universities, the privates would have to cut tuition costs to compete for students.
Higher education needs to be free for those who want it and qualify academically.
The Sallie Mae BS jacked up tuition to astronomical levels. I went to school in the Dinardo Era and tuition and fees were high but still affordable. The cost of a college education now is ridiculous and has greatly outpaced inflation. The system is broken with it's only purpose to make the elite rich and enslave new grads with the burden of $200k of loans.
Regarding the OP, college tuition costs are egregiously inflated and the loans are BS and should be forgiven. For those of you who just paid off your $120k of loans, I'm sorry, tough luck but just because you got ripped off doesn't mean it's okay to rip off the next class of students. At some point it needs to end.
This post was edited on 3/25/20 at 4:41 pm
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