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re: Student Loan Crisis
Posted on 11/12/26 at 1:04 pm to SantaFe
Posted on 11/12/26 at 1:04 pm to SantaFe
it's too far in advance of election time to bring it up now. their voting base will forget about it by time election season rolls around. dont worry, by the end of 2027 they'll start putting it front and center
Posted on 11/12/26 at 1:12 pm to atlgamecockman
Another example of how when the government gets involved, it all turns to crap.
Tie loans to the degrees one is pursuing. You want to become a ______and the median salary is $50k, then the maximum you can borrow is _______.
Make it to where the salary can support the loan.
If the individual changes majors multiple times, takes extra semesters, fails out...well, that is on you. NO FORGIVENESS.
We have to start treating adults as adults. They need to have conversations before loans are given that are adult conversations.
Tie loans to the degrees one is pursuing. You want to become a ______and the median salary is $50k, then the maximum you can borrow is _______.
Make it to where the salary can support the loan.
If the individual changes majors multiple times, takes extra semesters, fails out...well, that is on you. NO FORGIVENESS.
We have to start treating adults as adults. They need to have conversations before loans are given that are adult conversations.
Posted on 11/12/26 at 1:23 pm to SantaFe
quote:
Student Loan Crisis
They are working on a slew of new more powerful 'buzzwords'. These when selected and passed around to the msm will accompany ever single bill, program, interview and charge brought.
Crisis
Running out of time
Accountabilty
Privilege
Violence
Othering
Triggering
Microaggression
Progressive stack
Centering
Safe space
Holding space
Body shaming
Radical transparency
Small ‘d’ democracy
Stakeholders
The unhoused
Food insecurity
Housing insecurity
Person who immigrated
(Third Way)
Get ready and you will see the winners easy enough. Cause they won't shut up about them.
Posted on 11/12/26 at 1:34 pm to SantaFe
It is not a crisis.
The schools need to be on the hook as well. Until the schools have skin in the game, the system will be broken. Going to Tulane on student loans to get a degree in diversity history ain’t going to work for anyone but the school.
Wiping out student loan debt is horrible solution. How are responsible people like me that got two undergrad stem related degrees going to be completed? I worked at a gas station and car repair shop for cash to go to school.
The schools need to be on the hook as well. Until the schools have skin in the game, the system will be broken. Going to Tulane on student loans to get a degree in diversity history ain’t going to work for anyone but the school.
Wiping out student loan debt is horrible solution. How are responsible people like me that got two undergrad stem related degrees going to be completed? I worked at a gas station and car repair shop for cash to go to school.
Posted on 11/12/26 at 1:41 pm to atlgamecockman
quote:
Story here is Boomers told Gen X and Millenials to go to college, made it easy to get loans, then blew up the economy a few times and now the youngest generations are saddled with debt and unable to get their lives going.
Should some folks have not gone to college? Yes. Was the messaging to those folks constantly "you need to go to college so you can earn more"? Also yes.
Despite what you think about personal responsibility, saddling your youngest (and most likely to be entreprenurial at that age) generation with a massive debt burden probably isn't a good way to go about nation building/management.
Silver wealth transfer to the younger generations? Unlikely, much of the Boomer wealth is going to be gobbled up by private equity end of life care.
It's a mess and something definitely has to change. We'll see if anything does.
I only have but 1 upvote to give but 100% spot on.
But you also forget, while the Federal Gov was giving out free money, the institutions responded by increasing costs. It just all compounded to a truly untenable situation for those generations.
Posted on 11/12/26 at 1:54 pm to SantaFe
Pay off your student loans? Not sure of the issue
Posted on 11/12/26 at 2:28 pm to Freauxzen
Yeah I didn't mention that but for sure. Average university "Administration" budgets went through the roof.
Posted on 11/12/26 at 2:39 pm to atlgamecockman
Remember, at least half of high school graduates and college freshmen are functionally illiterate in math and English. So college students need to make up for inadequate K-12 education. I got my degree in four years. If I would have had to take any remedial classes as a freshman, it would have been at least five if not six years to graduate.
With average tuition room and board at $25,000 per year, a college degree is anywhere from $100,000-$150,000. That’s a deep hole to dig out of as you start a career. What kind of income do you need to pay those loans off in 10 years? There are not too many majors that can support that level of debt.
With average tuition room and board at $25,000 per year, a college degree is anywhere from $100,000-$150,000. That’s a deep hole to dig out of as you start a career. What kind of income do you need to pay those loans off in 10 years? There are not too many majors that can support that level of debt.
Posted on 11/12/26 at 2:46 pm to Vacherie Saint
quote:
Dave Smith recently outlined the absurdity of the student loan crisis by asking the audience what would happen if an 18 year old high school senior entered a bank and asked for 200K to start a small business.
I hope his ultimate point was that they need to stop the guaranteed government loans.
You kind of left us hanging on that part, though.
Posted on 11/12/26 at 2:51 pm to Freauxzen
Only a moron would view a student loan as free money. No wonder so many people are broke these days.
Posted on 11/12/26 at 3:07 pm to Vacherie Saint
quote:It's a construct that makes more sense now, but certainly back in the day it was a poor analogy.
Dave Smith recently outlined the absurdity of the student loan crisis by asking the audience what would happen if an 18 year old high school senior entered a bank and asked for 200K to start a small business.
The returns to college education were more or less clear cut for decades, and not at all comparable to startup risk of a small business.
On top of that, student loans are non-dischargeable, meaning that career earnings can be (and are) meaningfully attached in order to secure repayment. Small business, on the other hand can just BK to distance itself from creditors.
And another small point - student loans are not given 4 years upfront. Rather, they are metered out, depending on the student actually passing classes and being in good standing.
None of this is a defense of the leviathan that student loans have become en masse. Just pointing out the absurdity isn't obvious at all - mostly because the analogy is just poor.
Posted on 11/12/26 at 3:16 pm to SantaFe
Debtor prisons
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