Let's talk about the future effects of this student loan disaster

oh you can get even deeper ignoring student loans and all that

the gap between the upper-middle and underclasses is expanding its separation very quickly. given the importance of things like technology (insert: "when the robots take over, the only human employment will be coding" jokes) and higher education, there is simply no way that this gap doesn't exponentially increase in size over the next few decades

a better framing for this discussion is the stupid focus (both DEM and GOP) on low-skilled manufacturing jobs and not student loans. pandering to the population to increase the number of these jobs is pandering to devolve our society. the realization of concepts like technology and automation is very crucial to accepting the inevitable future of our economy, and that economy is not a pretty place for the underclass

One of my fiancée's peers has over $500k of student debt going into a residency program. She'll probably tack on a hundred thousand more before finishing. Even in the medical field this is a crushing level of debt to shoulder. My fiancée finished undergrad, a Ph.D, and dental school with zero student loans.

The Midwest was absolutely wrecked by factory jobs leaving. Imagine every fast food joint and retail shop being automated.

Something that worries me is student debt becoming so high that "Dirty Jobs" starts to actually be a desired career path for many. You see it claimed by some: "I'm glad I became a welder instead of going to college. I got a job at 19 and have made a nice life for myself despite the rigors of physical labor."

As mentioned already in this thread, automation through technology is a very real part of our future. Even those "dirty jobs" could be performed by robots leaving what choices for lower-IQ workers and for those that don't have the money to afford colleges?

The OT boner for blue collar jobs amuses me. There's a reason those jobs pay well- no one wants to weld or wade in shite.

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Having our young white collar workforce completely restricted in spending power is going to frick shite up.

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If there's one thing we know how to do its find a way to extend credit irresponsibly

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So what do you do when a massive student loan bubble results in crippling leverage for an entire generation of your population rendering them financially unqualified to obtain mortgage financing and their 'God-given right' to a slice of the 'American Dream'? Well, you simply change the rules to allow mortgage lenders to ignore all that pesky student debt...anything less would simply be evil and potentially racist, sexist and all sorts of other -ist words.

Luckily, Fannie Mae is right on top of the issue and has just released new rules allowing millennial borrowers to, among other things, simply exclude student loans, credit cards and auto loans that are "paid by someone else"...wink wink...when applying for a new mortgage. As an added benefit, taxpayer subsidized mortgage loans can also now be used to repay student debt...Hooray for taxpayers!

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LINK

i've made at least one thread about UBI years ago

it's an interesting concept, especially as a replacement for our welfare state

what's more interesting is how it's viewed. some see it as a way to deliver middle-class income to all to pursue all sorts of virtuous and creative efforts, while others see it as a "gotcha" to create Dawrin's dream of survival of the fittest, fricking over the poor and exploiting their bad decision making

I paid my rent, tuition, and my bar tabs off through my summer job!

Rent was $100, tuition $400

Who would have thought that mandated, practically unlimited credit line with no collateral would cause a massive bubble and misallocation of resources?