I have no problem with forgiving student loans. Assets of the banks, schools, and Congressmen who benefited from the scheme should be seized to recover the funds.
For those of us who paid back our loans in full I have an issue with total forgiveness. Maybe a write down but too many people today think signing a note or any promise to pay anything back is a a joke. People need some accountability for their actions or it sends the wrong message to the next generations.
Me too. Myself and my wife did without for 20+ years and paid 100K per child so they could get a degree and have a shot at a good life. No deals you took out a loan you owe it back!
My dream is that universities are transformed in to legitimate research and vocational training only. No more taking geology as an accounting major (unless you choose to for fun) and other BS electives.
Only Gen Ed’s should be English, basic math and useful things like computer skills.
Looks like student higher education loans are gonna be moved to Treasury which they claim could be seamless.
They are proposing tying the maximum amount you could borrow to potential future earnings.
Seems there is an issue with the Pell Grants. Some "students" sign up just to get the cash and then drop out. Hmmm, I'm thinking there is a solution for that.
Yes but telling people they will be deployed may make them decide to pay it back and if they choose to serve they should get the shit jobs no one else wants to do. No one gets a free ride.
For those with student loans that can’t find a job, maybe you chose the wrong major. Research the job demand and prospects before you choose a major. There should be a time limit on loan paybacks or huge penalty charged.
A lot of these people were lied to by their idiotic boomer parents and school administrators. You think most 17 year olds know better? I didn’t. Luckily I got out early.
And if you want to tank the native population then sure just use Jewish usury and make it very hard for them to have kids or buy a house. Then declare a crisis and bring in a bunch of illegals and Pajeets to replace them. Oh wait that’s what they did. Punishing American students like you suggest does nothing.
End federal student loans, make colleges compete for students, make them cut the fluff courses and majors that provide nothing of value. Those who have student loans can pay back at a zero or much lower interest rate. It’s the 4-5% interest rates that are killing people.
The simplistic, “You should have known what you were getting into” is so mind numbing at this point. I can’t help that every authority figure in my life for 10 years said, “Go get a degree, any degree and you’ll be set for life!” My degrees are in history btw not basket weaving. Two generations now have been sold a lie and as such debt slavery. I’ve paid my dues for 8 years and still owe more than borrowed.
It’s also rich that many say tough luck while acknowledging the problem we are in was created by the government guaranteeing these college loans. Thus making the cost of college balloon year over year.
Exactly this ^. I'm a boomer and college was actually affordable when I went through, not the 200+K total it is now. Attach 7% interest to it and it puts our youth in permanent slavery. I don't see why people can't see this? This college deal turned into a scam with both colleges and liberal professors raking in the lion's share of it. The student debt problem needs to be dealt with, 0% interest and perhaps some claw back from the endowments of these institutions are in order.
I've know several that have made a career out of just going too college just by changing their degree criteria, turning a 4yr into 8+yrs. Something has to change, I don't like my tax dollars being wasted on a debt forgiveness. If that's case then forgive my mortgage and don't stop there my car also.
Just a thought: There is so much waste... What if taxes are collected on those who owe student loans until they are paid back? Those who did not take them out, or paid them out no taxes? IMO - no more interest. The university prices were greatly inflated. Can the stollen diamonds be returned to student loans as well? No interest? Can't pay for it? The degree is forfeit?
"Just a thought: There is so much waste... What if taxes are collected on those who owe student loans until they are paid back? Those who did not take them out, or paid them out no taxes? IMO - no more interest. The university prices were greatly inflated. Can the stollen diamonds be returned to student loans as well? No interest? Can't pay for it? The degree is forfeit?"
...viable alternatives to a conundrum of enormous scale...
With a total of about 1.8 trillion owed, it is hard to ignore all of the possible waste fraud and abuse in the University propaganda machine. As a tax payer It angers me that our money was used for brainwashing the world. It seems more unfair that college students paid more for their personal intense brainwashing courses. I went through it as a student to become a teacher, I was already in my 30s and saw BS for BS. I know it got worse...
This has always had an easy solution: End taxpayer-guaranteed student debt, and make student loan debt dischargeable in bankruptcy. Anyone who has successfully declared bankruptcy since getting their student debt should have it voided the day this change is made. Simple.
In other words, everybody just goes back to using a commercial lender? And let companies finance tuition for future work payoff if the degree is specific to a certain industry.
35+ years of actual work using Microsoft makes me at least moderately experienced. Had some awesome costing workbooks I created when I was product manager and project managing creating juvenile products.
For those loans that were already paid off completely, will those individuals get a reimbursement as well? Would like to be fully reimbursed if education loans are suddenly being forgiven. I've got receipts LOL. Where do I sign up?
THe bottom line is this. Forgiving student loans is not about helping the students. It's about taken care of the liberal schools system that has taken control of everything.
If students can't get a job in the area of study they graduated with they should be able to sue the schools for a refund
A secondary, graduate degree might be paid back by student but the undergraduate precursor degree forfeited. e.g.That JD law degree would stand but the Yale undergraduate forfeited to welch on paying for 4 years (hundreds of thousands) tuition.
they need to pay back their loans. seems it was tax payers money they borrowed from, so pay it back to the Treasury. i had to pay my student loans back, i never even questioned having to pay it back. i never ever expected my loans to be forgiven.
how is this group any better than the ones who took out loans in the last, how many decades ago?? this is what entitlement has brought us to.
what about all the parents who saved and struggled for decades to pay for their kids college? how do they get any money back?
so NO, you decided gender studies was a good idea, you pay for it.
I actually got a history degree thank you very much. Problem is what did your degree cost vs mine? People in the 60s, 70s, and 80s could generally work a full time summer job and part time during school year to afford their education. Thanks to government intervention loans are a necessity to “afford an education.”
It is a big difference in that the cost of a year of tuition was $800 in 1980. Minimum wage was $3.10. You could work a full time minimum job for the summer and afford school. You really only needed 260 hours of work but that’s without taxes taken out. Now you need 1350 hours of minimum wage (without taxes taken) to afford their average public tuition. There is a vast difference today in what most people paid bs the cost now all thanks to the government backed loans. With 2 generations being told you need a degree to get a job.
I have paid for 8 years without deferment or anything what the DOE has told me to pay and my balance is still more than I originally borrowed. I have a mortgage and have had car loans and they go down over time and have been or will be paid off. My student loans though? The government got to screw 2 generations into debt slavery. It’s no different to me at this point than the money laundering in Ukraine, the bank and auto bail outs etc. It was all intended to line pockets and create slaves.
I have no problem with forgiving student loans. Assets of the banks, schools, and Congressmen who benefited from the scheme should be seized to recover the funds.
For those of us who paid back our loans in full I have an issue with total forgiveness. Maybe a write down but too many people today think signing a note or any promise to pay anything back is a a joke. People need some accountability for their actions or it sends the wrong message to the next generations.
I have said the best compromise is to make it zero % interest.
Me too. Myself and my wife did without for 20+ years and paid 100K per child so they could get a degree and have a shot at a good life. No deals you took out a loan you owe it back!
Bingo
They could argue that the Universities funded by USAID promoted worthless and counterproductive Education life paths. As such, the loan is nul & void.
My dream is that universities are transformed in to legitimate research and vocational training only. No more taking geology as an accounting major (unless you choose to for fun) and other BS electives.
Only Gen Ed’s should be English, basic math and useful things like computer skills.
5 percent of the total amount owed is in default.
Looks like student higher education loans are gonna be moved to Treasury which they claim could be seamless.
They are proposing tying the maximum amount you could borrow to potential future earnings.
Seems there is an issue with the Pell Grants. Some "students" sign up just to get the cash and then drop out. Hmmm, I'm thinking there is a solution for that.
" I'm thinking there is a solution for that."
...automatic military conscription...
This I can agree with.
But we're trying to improve the quality of our military, not 'soy it up' even more.
Yes but telling people they will be deployed may make them decide to pay it back and if they choose to serve they should get the shit jobs no one else wants to do. No one gets a free ride.
For those with student loans that can’t find a job, maybe you chose the wrong major. Research the job demand and prospects before you choose a major. There should be a time limit on loan paybacks or huge penalty charged.
A lot of these people were lied to by their idiotic boomer parents and school administrators. You think most 17 year olds know better? I didn’t. Luckily I got out early.
And if you want to tank the native population then sure just use Jewish usury and make it very hard for them to have kids or buy a house. Then declare a crisis and bring in a bunch of illegals and Pajeets to replace them. Oh wait that’s what they did. Punishing American students like you suggest does nothing.
End federal student loans, make colleges compete for students, make them cut the fluff courses and majors that provide nothing of value. Those who have student loans can pay back at a zero or much lower interest rate. It’s the 4-5% interest rates that are killing people.
I cannot applaud this enough!
The simplistic, “You should have known what you were getting into” is so mind numbing at this point. I can’t help that every authority figure in my life for 10 years said, “Go get a degree, any degree and you’ll be set for life!” My degrees are in history btw not basket weaving. Two generations now have been sold a lie and as such debt slavery. I’ve paid my dues for 8 years and still owe more than borrowed.
It’s also rich that many say tough luck while acknowledging the problem we are in was created by the government guaranteeing these college loans. Thus making the cost of college balloon year over year.
Exactly this ^. I'm a boomer and college was actually affordable when I went through, not the 200+K total it is now. Attach 7% interest to it and it puts our youth in permanent slavery. I don't see why people can't see this? This college deal turned into a scam with both colleges and liberal professors raking in the lion's share of it. The student debt problem needs to be dealt with, 0% interest and perhaps some claw back from the endowments of these institutions are in order.
Why would a homeowner with a mortgage from the corrupt central bank have to continue to pay then………
I've know several that have made a career out of just going too college just by changing their degree criteria, turning a 4yr into 8+yrs. Something has to change, I don't like my tax dollars being wasted on a debt forgiveness. If that's case then forgive my mortgage and don't stop there my car also.
"I've know several that have made a career out of just going too college "
...back in the stone age, we called those cats "BUS riders"...
(bachelor of university studies)
...as a pup, I hated these older guys because they would horn in on all of the females my age...
...the girls always found them "irresistibly sophisticated"...
...wags tail disgustedly...
https://archive.ph/1t33A
Thank you!
Just a thought: There is so much waste... What if taxes are collected on those who owe student loans until they are paid back? Those who did not take them out, or paid them out no taxes? IMO - no more interest. The university prices were greatly inflated. Can the stollen diamonds be returned to student loans as well? No interest? Can't pay for it? The degree is forfeit?
"Just a thought: There is so much waste... What if taxes are collected on those who owe student loans until they are paid back? Those who did not take them out, or paid them out no taxes? IMO - no more interest. The university prices were greatly inflated. Can the stollen diamonds be returned to student loans as well? No interest? Can't pay for it? The degree is forfeit?"
...viable alternatives to a conundrum of enormous scale...
With a total of about 1.8 trillion owed, it is hard to ignore all of the possible waste fraud and abuse in the University propaganda machine. As a tax payer It angers me that our money was used for brainwashing the world. It seems more unfair that college students paid more for their personal intense brainwashing courses. I went through it as a student to become a teacher, I was already in my 30s and saw BS for BS. I know it got worse...
" It seems more unfair that college students paid more for their personal intense brainwashing courses."
u/#howl
This has always had an easy solution: End taxpayer-guaranteed student debt, and make student loan debt dischargeable in bankruptcy. Anyone who has successfully declared bankruptcy since getting their student debt should have it voided the day this change is made. Simple.
In other words, everybody just goes back to using a commercial lender? And let companies finance tuition for future work payoff if the degree is specific to a certain industry.
They still owe the money, so they can still pay it back. No problem.
It’s nothing an excel workbook and a moderately experienced person can’t keep track of.
" a moderately experienced person"
...are in short supply...
..there are some relatively experienced persons available...
35+ years of actual work using Microsoft makes me at least moderately experienced. Had some awesome costing workbooks I created when I was product manager and project managing creating juvenile products.
Eliminate it. ALL the Schools are dirty and they will be disqualified immediately due to their practices.
$1.5 Trillion SAVED !
For those loans that were already paid off completely, will those individuals get a reimbursement as well? Would like to be fully reimbursed if education loans are suddenly being forgiven. I've got receipts LOL. Where do I sign up?
How about having grace upon the borrowers, maybe they shouldn't have to pay it back.....BUT, whatever degree they attained will be forfeited.
THe bottom line is this. Forgiving student loans is not about helping the students. It's about taken care of the liberal schools system that has taken control of everything. If students can't get a job in the area of study they graduated with they should be able to sue the schools for a refund
"BUT, whatever degree they attained will be forfeited.
...junk in...
...junk out...
Who would hire a "gender studies graduate"? Not too many mainstream corporations.
Fantastic idea! You don’t get to keep your house if you don’t pay for it. So…
A secondary, graduate degree might be paid back by student but the undergraduate precursor degree forfeited. e.g.That JD law degree would stand but the Yale undergraduate forfeited to welch on paying for 4 years (hundreds of thousands) tuition.
As someone with two degrees. I’ll take that deal.
they need to pay back their loans. seems it was tax payers money they borrowed from, so pay it back to the Treasury. i had to pay my student loans back, i never even questioned having to pay it back. i never ever expected my loans to be forgiven.
how is this group any better than the ones who took out loans in the last, how many decades ago?? this is what entitlement has brought us to.
what about all the parents who saved and struggled for decades to pay for their kids college? how do they get any money back?
so NO, you decided gender studies was a good idea, you pay for it.
I actually got a history degree thank you very much. Problem is what did your degree cost vs mine? People in the 60s, 70s, and 80s could generally work a full time summer job and part time during school year to afford their education. Thanks to government intervention loans are a necessity to “afford an education.”
what difference does it make what your degree cost vs mine? i still paid back every penny and it took years.
It is a big difference in that the cost of a year of tuition was $800 in 1980. Minimum wage was $3.10. You could work a full time minimum job for the summer and afford school. You really only needed 260 hours of work but that’s without taxes taken out. Now you need 1350 hours of minimum wage (without taxes taken) to afford their average public tuition. There is a vast difference today in what most people paid bs the cost now all thanks to the government backed loans. With 2 generations being told you need a degree to get a job.
I have paid for 8 years without deferment or anything what the DOE has told me to pay and my balance is still more than I originally borrowed. I have a mortgage and have had car loans and they go down over time and have been or will be paid off. My student loans though? The government got to screw 2 generations into debt slavery. It’s no different to me at this point than the money laundering in Ukraine, the bank and auto bail outs etc. It was all intended to line pockets and create slaves.