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Started By
Message
re: The idiocy of canceling student debt
Posted on 2/9/21 at 7:27 am to Dawgfanman
Posted on 2/9/21 at 7:27 am to Dawgfanman
quote:
Classes are full at many places, people can’t even get all the classes they want
Because professors barely teach.
quote:
students demand more and more technology/facilities/etc.
quote:
students demand more and more technology/facilities/etc.
bullshite. You sound like a school admin trying to justify their scam.
1
Posted on 2/9/21 at 7:37 am to Mo Jeaux
quote:
quote: Classes are full at many places, people can’t even get all the classes they want Because professors barely teach. quote: students demand more and more technology/facilities/etc. quote: students demand more and more technology/facilities/etc. Bull shite. You sound like a school admin trying to justify their scam.
Yeah, colleges and universities really seem to be struggling to find people to fill their fancy new classrooms using their govt backed loan money. No one wants that room in the new dorm by the new rec center with the new pool.
I’ve got a 14 and a 16 year old. I can assure you neither is looking at colleges that are cheaper because they are “no frills”. They and all their little friends want to go to the fancy school with the cool stuff.
They wouldn’t think like this if they had to actually pay for it up front. But between the Hope Scholarship in Georgia (and any kid who isn’t an idiot qualifies) and available loans, they will be living a luxurious life for 4-6 years..just like many other students.
People get what they demand, that’s true of the govt we have and the size/scope/luxury of the universities that exist. The govts involvement in how it’s paid for skews this greatly.
Posted on 2/9/21 at 7:51 am to Browncd81
Student loans are defacto grants to colleges and universities. The student borrows far more than is needed for the education provided and the school gets the money and expands their budget.
There is a simple fix to this.
1. Student loans should operate like other loans and be based on a loan to value formula on estimated earnings for the chosen degree. The cost of an individual school should have no bearing on how much a student can get in loans. For Degree X, you can borrow Y.
2. Students must demonstrate satisfactory progress toward their degree with a baseline GPA of say 2.5. If they fall below, they enter a probationary period and have a semester to bring it up.
3. School should be required to educate students on how much a chosen degree can yield them in salary. If the student/parents want to pay out of pocket for John to get a marketing degree at Vanderbilt, then go for it. But we shouldn't allow John to run up $200,000 in student debt. Who benefits in this situation? The bank loaning the money and Vanderbilt. John got hosed(I know, I know, he made the decision. But we aren't going to fix this problem by relying on the judgement of 18 year olds)
4. Lastly, the average student has $32,000 in debt and I have seen average monthly notes of around $393. A college graduate should have no problem paying this.
There is a simple fix to this.
1. Student loans should operate like other loans and be based on a loan to value formula on estimated earnings for the chosen degree. The cost of an individual school should have no bearing on how much a student can get in loans. For Degree X, you can borrow Y.
2. Students must demonstrate satisfactory progress toward their degree with a baseline GPA of say 2.5. If they fall below, they enter a probationary period and have a semester to bring it up.
3. School should be required to educate students on how much a chosen degree can yield them in salary. If the student/parents want to pay out of pocket for John to get a marketing degree at Vanderbilt, then go for it. But we shouldn't allow John to run up $200,000 in student debt. Who benefits in this situation? The bank loaning the money and Vanderbilt. John got hosed(I know, I know, he made the decision. But we aren't going to fix this problem by relying on the judgement of 18 year olds)
4. Lastly, the average student has $32,000 in debt and I have seen average monthly notes of around $393. A college graduate should have no problem paying this.
Posted on 2/9/21 at 7:57 am to Browncd81
Student loan forgiveness is nothing more than the creation of a new dependent class. The left will have these idiots voting for them for the next generation with this grift.
Posted on 2/9/21 at 7:57 am to Browncd81
Universities are now another tax funded, vote collecting, institution that the DEMS are determined to make their own!
Posted on 2/9/21 at 12:18 pm to Browncd81
I have around 20k in student debt, and I wouldn't want a CENT of it paid for by truckers, welders, farmers -- whoever!
That would only stir up resentment, anyway. Much smarter would be to
1) cancel (not pay off!) all federally-held debt. since it's just cancelled, not actually being repaid, there's no need to tax anyone (certainly not working people!)
2) for the rest of the debt, bleed billionaires and ten-millionaires dry -- you'll easily find enough money THERE!
Thoughts?
That would only stir up resentment, anyway. Much smarter would be to
1) cancel (not pay off!) all federally-held debt. since it's just cancelled, not actually being repaid, there's no need to tax anyone (certainly not working people!)
2) for the rest of the debt, bleed billionaires and ten-millionaires dry -- you'll easily find enough money THERE!
Thoughts?
Posted on 2/9/21 at 12:26 pm to FreeSpeechWarrior280
quote:
1) cancel (not pay off!) all federally-held debt. since it's just cancelled, not actually being repaid, there's no need to tax anyone (certainly not working people!)
So how do these institutions recoup that lost? The expense is there, do the public universities do without? The reality, is those welders/farmers, etc... taxes are paying for it. It doesn't magically disappear.
quote:
2) for the rest of the debt, bleed billionaires and ten-millionaires dry -- you'll easily find enough money THERE!
Why? You accumulated the debt, not private individuals. It's not their fault you are irresponsible.
Posted on 2/9/21 at 12:35 pm to Browncd81
Cancel the debt, and that becomes income that can be taxed. Think about a $100,000 debt being taxed at 33%, where will they get the money to pay the IRS for that year, if they can not afford the monthly payments now?
By the way, not all teachers degrees are worthless. I have seen lawyers teaching elementary school, nurses teaching middle, people with chemistry and physic degrees teaching high school (they all turned down the more money path, or retired to teach)
By the way, not all teachers degrees are worthless. I have seen lawyers teaching elementary school, nurses teaching middle, people with chemistry and physic degrees teaching high school (they all turned down the more money path, or retired to teach)
Posted on 2/10/21 at 12:28 pm to BugAC
By institutions, you mean the universities/colleges? They don't have a loss to recoup -- the federal government loaned the money to the student, the student paid the money to the institutions. The only person with a loss is the one left holding the back -- the federal government. Personally, I'm quite happy with them not being repaid by the nation's students!
As for the second point, idk, I guess I'm just being a bit more practical than you? I'm not the most concerned with who personally is responsible -- I want to solve problems. So when I see a giant pit of debt over here, and people who have more money than they know what to do with over THERE...the solution presents itself immediately to me!
As for the second point, idk, I guess I'm just being a bit more practical than you? I'm not the most concerned with who personally is responsible -- I want to solve problems. So when I see a giant pit of debt over here, and people who have more money than they know what to do with over THERE...the solution presents itself immediately to me!
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