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I can be empathetic to some complaints of it, but what a piss poor argument against it.
A democracy fails when the majority realize they can vote themselves largess of the Treasury.
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I know politicians doing what their constituents want is weird, but that is absolutely a positive thing and as a representative government is supposed to do.
Representative government is supposed to be just that, the people represented by a governing body. This asshole went around all of that, including the check and balances within them, to go out on his own and write a blank check regardless of what the representatives we elected had to say about it. We don’t elect a monarch, so trying to paint this notion of following through on a promise is flawed at the very core.
-How does this fix college education costs? Or do you just forsee the government paying for university for everybody moving forward?
IE- Government announces tax rebate on EV's. Ford in turn raises MSRP to be inline with the new tax rebate.
-Do you feel forgiving (transferring debt to others who didnt attend university , or were responsible and put themselves/sacrificed in order to pay them off) teaches any self responsibility / accountability?
-What message is this delivering to people who have some fiscal intelligence, and refinanced their high interest fed loans into private for a lower rate, and thus now dont qualify for any forgiveness? Seems like you're penalizing the intelligent and providing for the unintelligent, no?
-Do you think many people who complain about how "predatory" compounding interest is, have been making payments the past two years, while it would of been straight principal, no interest, helping them get ahead? Most folks I know in this situation, have not made any payments through the pause/freeze.
-How does this fix people taking out loans, with zero idea of what their median starting salary would be?
-How would you feel about the following proposal
-Current loans continue to be interest free for the next 2 years. After that, they go to 1/2 the prime rate.
-Starting in grade 9, instead of some mandatory fluff course in high school, there is a requirement for a financial course.
- Basic understanding of how to budget, how to understand / research starting median salaries, living expenses, ect. With the internet there is zero excuse for being surprised that a degree is going to put you into a position that starts at 40k, and at that point with a basic understanding of finance/budget, you can make an educated decision on weather accruing 100k in debt is something you think is wise or not.
-Allow student loans to be removed when declaring bankruptcy, however, your degree is revoked along with it, just as your car/home would be if you defaulted.
-Why is it the tax payers responsibility, to help fund somebody to attend a 4 year university for a degree that society values at XYZ Pay, that doesnt allow the person to pay back the borrowed money?
-Do you find it comical, that whenever the government gets involved things dont make sense? Their arbitrary income cut off for this "program", is over 1.5x (last I checked) the income limit for deducting student loan interest. Not to mention the deduction is capped well below the 10k. These may of changed recently, its been a few years since i've had to deal with student loans.
Once in a while there is a gem of a post like this that hopefully makes people stop and consider the recklessness of what's going on.
Thank you.
I think we'd have to agree first on what 'the problem' is. There's a lot of them. But I think reducing the number of people under somewhat predatory loans, while trying to better themselves and their outcome, is likely a net good.
I think you bring up some fine, decently thought out, non-purely-reactionary points. I like your proposal—anything to try to help people is a great place to start in my opinion. I don't have the answers, I trust economists and people a lot smarter than I to at least have thought them all through. I'm about as leftist as it gets, and this wasn't anywhere near the top of my personal political priorities, which makes sense—I'm a leftist, they're centrist. And this doesn't better my personal situation in anyway, but that's not my goal with policy.
But I'll reiterate again why I think overall this is a good idea—they campaigned on it, constituents want it, and it's happening. That's the process actually working. And it's not to take away personal rights, or to benefit the wealthy. That's progress.
Pit Row
https://educationdata.org/how-much-would-free-college-cost
I know plenty of people who never went to college who make more money than college graduates (my family are all coal miners…they make $60k-$70k per year…more than the medium income of someone with a bachelors degree in your major). One of the wealthiest people I know dropped out of high school…and he’s been working for himself since he was 17…built and sold multiple tech companies…No college…
Plus I know MANY people who do go to college and graduate with no debt…but they don’t get then”college experience” (since they work full time while in school-ME!) so many debt riddled college grads want, and is the real motivation for so many for going to college.
You don’t HAVE to go to college to get ahead in life…and if you do go to college you don’t HAVE to take on a ton of debt to graduate.
I do not understand when people say comments like this. There is no making up for the loss.... tax payers already bought and paid for those F-18s or anything else the government or military has including their salaries. So whatever the government or military builds, buys, sells or gives away it is at the direct expense of the tax payers period. New bridge gets built we as tax payers pay for it... Stimulus money gets tossed around we as tax payers pay for it. There is no money in the government or military, the only money they have is directly generated from us as tax payers.
And now we all see how logic doesn’t work for the ohhhhhh sooooo victimized left…
“People are forced to go through the education system …”
And you posted that silliness in response to an ON POINT quote from Thomas Sowell. That’s an amazingly hi-level of “fail” on your part.
But there are also those in society we need, who have to go to college, and have to take on a ton of debt to get there. (Unless they come from a boat load of money).
I have a semi-wonky heart valve, and when the time comes that it needs attention, I want the guy on the other end of the knife to be highly educated.
There are no doubt money issues with higher education. My 3 kids went that route. They are freshly into new occupations in health care nutrition, teaching, and business/accounting. All are paying off loans. The cost of all that is way more than it needs to be. Universities are big business and a big dollar thing.
If it was actually Student loan reformation that addressed the outlandish cost of higher education I and many others would give him due credit.
But alas it does nothing of the sort.
Come to think of it I can't recall any area that the government has tried to make more affordable that actually became more affordable (long term versus short lived credits).
Edit: state-funded colleges and universities are “regulated” by respective legislatures, but the pushback is nominal. Not saying it’s a rubber-stamp approval, but not not saying it, either. Man, I need to drop a hook in the water and go into the zone…
Seems this would have more people to vote against him, than for. There are lots out there who don't like it. Just read thru this thread. Not much if any in support.
But think about this: nearly 50% of college grads-talking about bachelors degrees-don't even use their degree in their career (and nearly 15% of people who enroll in college never even graduate).
What would happen to college tuition rates with a 65% drop in enrollment (if their potential customers stopped using them)? They went right into the work force, went to a trade school, started their own business, etc. etc.
With a 65% drop in enrollment could colleges maintain their current tuition rates? How much less student loan debt would their be in America?
College is a "cultural requirement" not about "not an absolute requirement" for all people, nor is it required for "getting ahead" in life...kids go for the "college experience", not for the education...
https://www.bloomberg.com/news/articles/2022-04-18/is-college-worth-it-…
"Here’s a statistic that may give some pause: More than half of college graduates over the age of 25 don’t work in their field of study, according to a new survey from Intelligent.com."
"he survey also found that 25% of respondents earn less than $30,000 a year, while approximately one out of seven earned less than $15,000 per year. An individual annual income of $14,097 is considered below the federal poverty threshold."
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