This has nothing to with students. This is really a kickback to universities to perpetuate a failed system (successful only on stuffing pockets
The university system is a fraud pushed onto young people. Anyone that thinks 18 year olds ‘should know better’ making a $100,000 life decision… shouldn’t the adults know better who create this system AND spend the kids entire childhood pushing this upon them.
There is a bigger picture to all this.
Frankly, it is not worth having an emotional opinion either way on this. Clearly just a typical superficial campaign issue to get both sides wound up and stoke division.
Agreed. You can’t beat into kids’ heads that college is their only chance and then call them stupid for having to take out loans to attend. I know people like to shit on the people that took out major loans for go-nowhere careers like gender studies but what about the majority that did not?
This move by Biden only pisses me off because with as horrible as things are for us financially, we get nothing. I want help too, dammit. I want to be able to breathe a sigh of relief instead of sacrifice food to cover bills, or vice versa.
I am one of those people that took out loans for a degree that applies to my good career, and broadly to many others as well! I’m happy to pay my loans back. The only problem is that, without any borrower consent, the interest was changed to daily compounding instead of APR years ago—meaning I will probably end up paying back THREE TIMES what I borrowed. Now how is that acceptable? I think a rational solution is to slash interest rates and make them APR instead of daily compounding, and hold these colleges accountable for their prices. I was paying $580/credit hour at a public university. Almost $2500/class. Not possible out of pocket unless you want to take 15 years to get a degree.
Take a step back.
This has nothing to with students. This is really a kickback to universities to perpetuate a failed system (successful only on stuffing pockets
The university system is a fraud pushed onto young people. Anyone that thinks 18 year olds ‘should know better’ making a $100,000 life decision… shouldn’t the adults know better who create this system AND spend the kids entire childhood pushing this upon them.
There is a bigger picture to all this.
Frankly, it is not worth having an emotional opinion either way on this. Clearly just a typical superficial campaign issue to get both sides wound up and stoke division.
Precisely
Agreed. You can’t beat into kids’ heads that college is their only chance and then call them stupid for having to take out loans to attend. I know people like to shit on the people that took out major loans for go-nowhere careers like gender studies but what about the majority that did not?
This move by Biden only pisses me off because with as horrible as things are for us financially, we get nothing. I want help too, dammit. I want to be able to breathe a sigh of relief instead of sacrifice food to cover bills, or vice versa.
I am one of those people that took out loans for a degree that applies to my good career, and broadly to many others as well! I’m happy to pay my loans back. The only problem is that, without any borrower consent, the interest was changed to daily compounding instead of APR years ago—meaning I will probably end up paying back THREE TIMES what I borrowed. Now how is that acceptable? I think a rational solution is to slash interest rates and make them APR instead of daily compounding, and hold these colleges accountable for their prices. I was paying $580/credit hour at a public university. Almost $2500/class. Not possible out of pocket unless you want to take 15 years to get a degree.
Sort of, by keeping tuition high. The banks already paid the universities though. It's really another bank bailout.
YES! Finally someone gets it.
Also this accelerates the end of the fed so I am all for it.