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re: Cancelling student loan debt seems like an incredibly unfair policy (re: warren)
Posted on 6/17/19 at 10:47 am to HailHailtoMichigan!
Posted on 6/17/19 at 10:47 am to HailHailtoMichigan!
Reducing Social Security is also a slap in the face to the younger generation. tit for tat.
2
Posted on 6/17/19 at 10:48 am to HailHailtoMichigan!
Talking about forgiving loans also encourages bad behavior by current and future students. Why pay for college when you can rack up debt and hope it gets paid off based on these proposals? Slow pay loans and hope to outlast the debt. If loan forgiveness doesn’t happen, those people will be stuck with massive debt that was encouraged by pandering politicians.
Posted on 6/17/19 at 10:48 am to SSpaniel
quote:
Here's a hint: Don't want to incur a huge amount of student loan debt? DON'T TAKE IT OUT IN THE FIRST PLACE!!!!
With college prices as they currently are, for most people, that's going to mean not going straight to a 4 year college.
Which isn't a bad thing, but it's going to take a major change in our society's thinking to accomplish that. Lot of pressure on these kids to go straight to a 4 year school.
Posted on 6/17/19 at 10:51 am to Tchefuncte Tiger
quote:
This. Don't rack up $100K in student debt for a fine arts degree than whine about how your job at Starbucks isn't enough to repay the loan.
What are we doing to teach 17 year olds that signing up for 100K in debt to get a fine arts degree is going to result in a Starbucks job that won't let you repay the debt?
What are we doing as parents, as teachers, as a society, to get dumb arse high schoolers to understand this?
Posted on 6/17/19 at 10:52 am to BobABooey
quote:
Talking about forgiving loans also encourages bad behavior by current and future students.
kinda like what we saw with bank bailouts and mortgages?
Posted on 6/17/19 at 10:52 am to yatesdog38
But they paid into it!! 
Posted on 6/17/19 at 10:54 am to NIH
yup...
Personal Finance should be taught in HS and completed before anyone can get a student loan. That would help
Personal Finance should be taught in HS and completed before anyone can get a student loan. That would help
Posted on 6/17/19 at 10:56 am to HailHailtoMichigan!
quote:It also does jack shite to solve the problem.
Cancelling student loan debt seems like an incredibly unfair policy (re: warren)
In fact, it ENCOURAGES the problem.
The PROBLEM is that for some retarded reason, as a society as a whole, we have completely disconnected the concept of actual VALUE as it relates to degrees.
It's basically considered impolite to notice that not all degrees are created equally even within the same schools.
Posted on 6/17/19 at 10:57 am to yatesdog38
quote:If you reduce future benefits AND reduce what one is forced to pay in, that's a freaking BENEFIT to young people that I only WISH had been offered to me 25 years ago
Reducing Social Security is also a slap in the face to the younger generation. tit for tat.
Posted on 6/17/19 at 10:59 am to LSUFanHouston
quote:
What are we doing to teach 17 year olds that signing up for 100K in debt to get a fine arts degree is going to result in a Starbucks job that won't let you repay the debt?
What are we doing as parents, as teachers, as a society, to get dumb arse high schoolers to understand this?
They all understand it. They just don't care because they're living for the moment.
If you think they don't understand it, go up to an 18 year old and offer to let him "buy" a Ford Festiva at a cost of $80K with the caveat that he can wait 4 years to start making payments. EVEN THEN, that dude ain't paying fricking $80 for a Festiva
Posted on 6/17/19 at 10:59 am to yatesdog38
quote:Nope. It literally wouldn't help at all. Because personal finance isn't the problem.
Personal Finance should be taught in HS and completed before anyone can get a student loan. That would help
Posted on 6/17/19 at 10:59 am to ShortyRob
quote:
If you reduce future benefits AND reduce what one is forced to pay in, that's a freaking BENEFIT to young people that I only WISH had been offered to me 25 years ago
At this point they are reducing benefits and NOT reducing payments
At some point, they are going to be reducing benefits AND increasing payments.
Posted on 6/17/19 at 11:00 am to LSUFanHouston
quote:Absolutely.
kinda like what we saw with bank bailouts and mortgages?
And, just because we were retarded once shouldn't somehow obligate us to be retarded again!
Posted on 6/17/19 at 11:00 am to yatesdog38
Not all student loan debt is bad. If it helps fund education that leads to a 40-50 year career - is it really that horrible?
And the majority of people are not getting art history degrees at private liberal arts U. The majority of folks in college are at a state school getting communications, business, marketing, education, etc. type degrees. The problem is that the white collar force is saturated in most areas and you either have to get a second degree (and more debt) or change paths.
And the majority of people are not getting art history degrees at private liberal arts U. The majority of folks in college are at a state school getting communications, business, marketing, education, etc. type degrees. The problem is that the white collar force is saturated in most areas and you either have to get a second degree (and more debt) or change paths.
Posted on 6/17/19 at 11:01 am to HailHailtoMichigan!
We took out an SBA loan after Katrina. Balance is sitting at $25k. If this happens, I want my SBA loan forgiven as well!
Posted on 6/17/19 at 11:01 am to LSUFanHouston
quote:SS benefit payments haven't changed that I'm aware of. I mean, there are people that want to change them, but I haven't seen them changed.
At this point they are reducing benefits and NOT reducing payments
quote:Yep. Because, like always, we seem to insist on waiting for the car to go over the cliff before hitting the breaks.
At some point, they are going to be reducing benefits AND increasing payments.
Posted on 6/17/19 at 11:01 am to ShortyRob
quote:
If you think they don't understand it, go up to an 18 year old and offer to let him "buy" a Ford Festiva at a cost of $80K with the caveat that he can wait 4 years to start making payments. EVEN THEN, that dude ain't paying fricking $80 for a Festiva
That tells me that they don't understand the relative values of a diploma and a car.
It doesn't surprise me at all that many high school students, especially boys, understand the finances of a car, better than they understand the finances of college.
You kinda just proved my point.
I also agree with your other post that this is a soceital/value proposition problem as well
Posted on 6/17/19 at 11:03 am to HailHailtoMichigan!
quote:
It’s a slap in the face to people who just finished off paying their loans off, or are halfway or so
Certainly. I wouldn't mind, if this were the case, that people who paid off their own loans got a significant benefit.
The Student Loan crisis should be on the backs of the boomers and not Gen X/early millenials.
quote:
It’s also unfair because.....nobody forced college students to take on so much debt in the first place.
quote:
It is your own fault if you get a degree in something that will not provide you an income that can sufficiently supply funds to pay down your debt while still providing you a solid standard of living.
But I'm actually going to disagree here. The overwhelming climate of our policies, of our business practices, of how we think about Higher Education from all sides, all but forces people into college. And we pepper college propaganda, still to this day, to where any normal kid probably can't even envision a future without college.
Business requiring degrees at unprecedented levels, even for entry level positions, is a BIG part of the problem. They are reducing HR spend, and basically making college, not their own processes, the filter for applicants. All while increasing the pool of applicants. The private sector has taken advantage of the point of college in a pretty bad way.
Parents, end up seeing colleges as the ultimate way out and the only way to create a living.....
And governments have used it as a money sink, creating administration bloat to "build special projects."
All the while, college SHOULD be about studying things that are intellectually valuable, this is NOT job training. The purpose of college being lost is EVERYONE's fault.
College is NOT about getting a job. And it never should have been.
This post was edited on 6/17/19 at 11:04 am
Posted on 6/17/19 at 11:03 am to ShortyRob
quote:
SS benefit payments haven't changed that I'm aware of. I mean, there are people that want to change them, but I haven't seen them changed.
Yes, the word "suggesting" should be added to that phrase.
Posted on 6/17/19 at 11:05 am to LSUFanHouston
quote:Or, the relative values of one diploma vs another.
That tells me that they don't understand the relative values of a diploma and a car.
quote:Nah. They know it. Trust me. You don't have a bunch of kids studying Gender Studies or Modern Dance who are thinking, "yep, it's pretty likely I'm gonna get paid similar to my friend majoring in mechanical engineering!".
It doesn't surprise me at all that many high school students, especially boys, understand the finances of a car, better than they understand the finances of college.
BUT.......you have to look at what THEY are valuing IN THE MOMENT.
1. Hey mom, I'm going to college just like you asked
2. You mean I get to party while the govt gives me money.....even enough to buy a car on the side.........and not pay for it until I stop going to school. Well shite, no problem. I won't stop going(12 year plan)
They aren't retarded. Hell. You have students actually ADDING ON student loans so they can keep going to school to avoid paying their CURRENT student loans!
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