re: When do the DEMs/Biden get serious about some Student Loan Forgiveness?

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We should also give out loans based on expected earnings. So, if you can make $50k coming out of college with your degree, you can take out a total of X of student loan debt.

If you can make $200k, you can take out more.

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if we're going to go that route, tie the price of a degree to the actual cost of offering the degree. for all the grief that women's studies and art history degrees get, they are remarkably cheap to offer compared to engineering of science degrees.

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and also makes education costs go through the roof.

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No, it doesn’t. Free money at the point of purchase makes costs go through the room.

Athletics are a small line item. If a school of 20,000 loses $10M on athletics (which has some funny money built in for the academic side of the university anyway), that’s $500/student. That’s a “computer fee” or “parking permit.”

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Never.

You borrowed the money, you pay it back.

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While I tend to agree - I paid every penny of mine back - you can’t deny that the government enabled, dare I say even encouraged, the sky high tuition increases that forced most into those loans.

They hold some responsibility … as do the slimy opportunistic universities.




I don’t know the best way to fix it, but the federal government should either pay for standard educations (profitable and needed degrees) or remove themselves completely from it - underwriting loans to 18 year old kids for worthless degrees isn’t the answer.

Perhaps a good start/compromise would be to stop offering loans and to continue with zero interest on current loans?

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I don’t know the best way to fix it, but the federal government should either pay for standard educations (profitable and needed degrees) or remove themselves completely from it - underwriting loans to 18 year old kids for worthless degrees isn’t the answer.

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Government will pay for a high school degree.

I think we need to as a society agree as to what a reasonable level of education should be. Why is it we say everyone needs a high school degree but not a college degree? Where do we draw the line?

Once we figure that out, we can figure out best way to pay for it.

I'm happy for everyone that says they paid off their loans. Our current system is broken.

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seriously, so loans is a bigger deal for you than murdering fetuses? if you vote democrat, you're already a pos.

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Hence the reason Republicans win Congress then turn around and lose it. More concerned with Abortion than fixing the economy, unemployment, student loan debt, inflation, high energy prices, etc. It's always the economy stupid. People vote their pocket books.

I don't like abortion either, but i worry more about empty shelves, inflation affecting my household income, the prices of goods and services, etc. Keep focusing on abortion first and foremost and watch Dems take back power every 2 to 4 years.

About the same time they finally start helping black people like they have promised to do since LBJ had Kennedy shot.

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This actually would do a lot of good

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Nope.

Student loan forgiveness would not solve the problem, it would just kick it down the road and make it worse long term. The problem is that the government had no business being involved with loans to begin with. All this did was give universities a blank check to increase costs, add layers of useless administration, and offer degrees of negligible value. Cancelling student debt would just set the expectation that it would happen again in a decade or so and everything would get worse.

How to fix the problem?

1. Get the government out of the student loan business.

2. Banks could still offer loans but set interest rates and borrowing limits based on the expected future earnings of the degree being pursued.

3. Make universities have skin in the game by forcing them to co-sign on all loans, or even better, be the bank themselves and loan money to their own students.

4. Student loans become bankruptable with the caveat being that if you default, your degree is invalidated and the school can withhold transcripts and wipe out your grades.

Do these 4 things and you’d immediately see a vast change in how universities operate. Many majors and classes would become “cash only” as they have zero economic value. High value majors would see lower interest rates AND lower costs. Schools would have to compete with each other on price and the mountains of diversity and other useless administration would be dissolved. Fancy buildings, lazy rivers, and pointless courses like bowling would be relics as universities push to get students through as quickly and cheaply as possible so they can begin paying back the loans.

Should be voting democrat? To "fix" student loan debt? Go slam your thumb with a framing hammer. Did you vote for Biden simply to get out of a debt you are responsible for?