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Message
re: Student loan bubble about to burst
Posted on 4/11/17 at 1:55 pm to LSUTigersVCURams
Posted on 4/11/17 at 1:55 pm to LSUTigersVCURams
Maybe if we took some money away from the giant corporate welfare machine that is the defense budget and put it towards higher education we might be able to give lower income students a chance at college
1
Posted on 4/11/17 at 1:56 pm to Pbhog
quote:
Maybe if we took some money away from the giant corporate welfare machine that is the defense budget and put it towards higher education we might be able to give lower income students a chance at college
That doesn't do jack shite to reduce the cost of higher education. If anything it exacerbates the problem.
Posted on 4/11/17 at 2:01 pm to upgrayedd
Really we need to go after price gougers like the ones that charge $500 for a book. That won't happen under a republican controlled government, I'm still waiting for trump to hold the pharmacutical industry price gougers responsible like he said he would.
Posted on 4/11/17 at 2:03 pm to PoundFoolish
This will be the beginning of a massive move to online higher education.
Anytime the government buys a lot of a service whether it be healthcare or higher ed the market is going to get screwed up. There is no reason higher ed should have increased in cost greater than the rate of inflation.
Louisiana should spin off our higher education institutions into private, debt free entities TODAY.
Taxpayers are about to be faced with albatrosses that JBE wants to continue to raise taxes to fund not unlike SUNO.
Anytime the government buys a lot of a service whether it be healthcare or higher ed the market is going to get screwed up. There is no reason higher ed should have increased in cost greater than the rate of inflation.
Louisiana should spin off our higher education institutions into private, debt free entities TODAY.
Taxpayers are about to be faced with albatrosses that JBE wants to continue to raise taxes to fund not unlike SUNO.
Posted on 4/11/17 at 2:05 pm to Pbhog
quote:
Really we need to go after price gougers like the ones that charge $500 for a book
Agree.
quote:
That won't happen under a republican controlled government,
Didn't happen under a democrat controlled government either. Not to mention that the left essentially has a monopoly on control of higher education so they're more to blame than republicans.
quote:Completely irrelevant to this discussion.
I'm still waiting for trump to hold the pharmacutical industry price gougers responsible like he said he would.
Posted on 4/11/17 at 2:06 pm to Pbhog
quote:That sure as hell didn't happen under the Democrat controlled government either.
Really we need to go after price gougers like the ones that charge $500 for a book. That won't happen under a republican controlled government, I'm still waiting for trump to hold the pharmacutical industry price gougers responsible like he said he would.
Posted on 4/11/17 at 2:06 pm to I B Freeman
The solution certainly IS NOT more government funded "free" education.
Posted on 4/11/17 at 2:07 pm to I B Freeman
quote:What?! The solution to everything is more government funded _______ .
The solution certainly IS NOT more government funded "free" education.
Posted on 4/11/17 at 2:09 pm to I B Freeman
I like two solutions:
1) Allow SLoan payments to be pre-tax.
2) Blow it all up. Government eat the debt and completely pull out (TWSS) of the Education Business.
1) Allow SLoan payments to be pre-tax.
2) Blow it all up. Government eat the debt and completely pull out (TWSS) of the Education Business.
Posted on 4/11/17 at 2:20 pm to PoundFoolish
Make college free.
Posted on 4/11/17 at 2:22 pm to 50_Tiger
quote:This reminds me. I can't understand why as a single person, I could deduct up to $2500.00 of my student loan interest, and my now wife could as well. Now that we're married, we can only deduct up to $2500.00 combined.
Allow SLoan payments to be pre-tax.
Posted on 4/11/17 at 2:24 pm to buckeye_vol
quote:
This reminds me. I can't understand why as a single person, I could deduct up to $2500.00 of my student loan interest, and my now wife could as well. Now that we're married, we can only deduct up to $2500.00 combined.
Because why would the government want to promote marriage as a good thing? lol...
Posted on 4/11/17 at 2:50 pm to PoundFoolish
quote:
Education (especially higher education) is a privilege and not a right.
I somewhat disagree with this statement.
As a society, we should be able to provide up to an undergrad degree to anyone who can handle the academic rigor. That should be a "right"
However, that "right" does not include a 30K a year education at a private school in women's studies. That's a privilege.
Posted on 4/11/17 at 2:51 pm to buckeye_vol
quote:
I can't understand why as a single person, I could deduct up to $2500.00 of my student loan interest, and my now wife could as well. Now that we're married, we can only deduct up to $2500.00 combined.
Let me help you understand.
The people in Congress don't have student loans at the current time.
Do you understand now?
Posted on 4/11/17 at 2:56 pm to I B Freeman
I posted this earlier to mock some of the people going "just get a job and pay for it," but this graph is ultimately a wonderful example of a market thrown completely out of whack by the government getting involved.
In any rational market this would not have happened.
Posted on 4/11/17 at 2:56 pm to 50_Tiger
quote:
Blow it all up. Government eat the debt and completely pull out (TWSS) of the Education Business.
Pretty much 100 percent of student loans issued since 2010 are owned by the feds. Before that though, a good chunk is owned by the feds and a good chunk of it is owned by private lenders, but guaranteed by the feds. Also a chunk is owned privately with no guarantee.
For the chunk the government owns, sure, just make an accounting entry and stop issuing new debt and we are good to do.
For the stuff owned by private, I don't know how you do that.
Posted on 4/11/17 at 2:58 pm to CorporateTiger
In just ten years it got completely out of whack. That's incredible.
Posted on 4/11/17 at 2:59 pm to LSUFanHouston
Weirdly having what is effectively an unlimited risk-free cash flow fricks up a market.
Posted on 4/11/17 at 3:01 pm to LSUTigersVCURams
That only fixes one problem while exacerbating another
The real problems are the skyrocketing costs of higher education.
People are taking out loans because they have to. Schools charge whatever because people just take out loans for it. Lenders turn the screws because people have to take out loans for higher education.
Wash rinse repeat.
Yes, I know people work through college for various degrees, but this doesnt help much for professional school folks who, effectively, have a mortgage payment upon graduation and no home to show for it. This in and of itself stifles the economy to a degree.
The real problems are the skyrocketing costs of higher education.
People are taking out loans because they have to. Schools charge whatever because people just take out loans for it. Lenders turn the screws because people have to take out loans for higher education.
Wash rinse repeat.
Yes, I know people work through college for various degrees, but this doesnt help much for professional school folks who, effectively, have a mortgage payment upon graduation and no home to show for it. This in and of itself stifles the economy to a degree.
This post was edited on 4/11/17 at 3:02 pm
Posted on 4/11/17 at 3:05 pm to Tiguar
quote:
People are taking out loans because they have to. Schools charge whatever because people just take out loans for it. Lenders turn the screws because people have to take out loans for higher education.
So if you cut off the money flow, what are schools going to do?
My guess is you would have a 5 year period of really, really bad stuff. Colleges would close, Those that stayed open would have entire residence halls and class buildings go unused and probably mothballed, etc.
But you would also have a lot of innovation. We would really start to use online learning, which would open up a school to anyone in the world with the funds and an internet connection. Those who wanted, and could afford, a traditional college experience could continue to do so, although their options may be a bit limited.
After 5 years, we would be in a much better place.
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