Student loan forgiveness....

[2kwik4u]

Let's add in resource conservation and climate change so we can do it in the keys!

Done. $175k/yr enough?

 

[BlkGS]

Done. $175k/yr enough?

I guess for like... One weekend a month. I'll need an expense account of course.

 

[MajorBummer210]

Took out too much $$$$$ on high interest loans for degrees that don’t pay jack. NOT my fault. #stateschool. #MakeAPlan

 

[seanmclean]

I think this is a macro/micro perspective issue. You aren't wrong but when you aggregate there are clear advantages to college education.
View attachment 178868

I think it would be interesting to see the non-degrees broken into those who pursued a trade (and got licensed) versus those who just went to high school and then started working wherever. I'd bet those kids end higher up the rungs than their education would suggest (and probably make the rest worse).

 

[Stan M]

Phew! I couldn't sleep and read through this thread...now I have to get up and go to work, and I'm exhausted! I'm going back to reading "one picture of your last outing" and "show me what your see"

 

[Rumbo]

What I think is comical is there are many people here who own $50k+ boats advocating for their $50k student loan debt to be further subsidized or outright forgiven. How about you pay for one debt before you take on a “luxury” debt? This is the problem with society.

 

[seanmclean]

What I think is comical is there are many people here who own $50k+ boats advocating for their $50k student loan debt to be further subsidized or outright forgiven. How about you pay for one debt before you take on a “luxury” debt? This is the problem with society.

Pretty myopic view. My boat is paid for, I still think that we can make the student loan situation more palatable and less of a burden for the future generation. My private education left me with a reasonable amount of debt. If I went to a state school today, I would no doubt walk away with a much larger loan burden. I think we can all agree that the cost of education is accelerating at an unreasonable rate, wages are nowhere close. What worked for my parents did not work for me. What worked for me does not work today. The problem is getting larger, but no one wants to do anything because they figured it out in their day.

This is not the way to drive our country forward. There is a balance to be struck between enforcing accountability and avoiding unnecessary burdens. Federal loans should not have an interest rate beyond recovering the necessary administrative costs. Private student loans should have an interest rate cap, IMO. If a private bank wants to offer a student loan at a rate above whatever that cap is, then it should become bankruptcy-eligible automatically. That's an easy win that hurts no one but predatory lenders.

 

[BlkGS]

Pretty myopic view. My boat is paid for, I still think that we can make the student loan situation more palatable and less of a burden for the future generation. My private education left me with a reasonable amount of debt. If I went to a state school today, I would no doubt walk away with a much larger loan burden. I think we can all agree that the cost of education is accelerating at an unreasonable rate, wages are nowhere close. What worked for my parents did not work for me. What worked for me does not work today. The problem is getting larger, but no one wants to do anything because they figured it out in their day.

This is not the way to drive our country forward. There is a balance to be struck between enforcing accountability and avoiding unnecessary burdens. Federal loans should not have an interest rate beyond recovering the necessary administrative costs. Private student loans should have an interest rate cap, IMO. If a private bank wants to offer a student loan at a rate above whatever that cap is, then it should become bankruptcy-eligible automatically. That's an easy win that hurts no one but predatory lenders.

The way forward is getting our education industrial complex under control, not wantonly slashing debt levels (which frankly, is unlikely to even be legal for the president to do).

 

[seanmclean]

The way forward is getting our education industrial complex under control,.

Do you have a suggestion for this? I agree completely, I just don't have any good ideas on that front. I think debt cancellation as a standalone concept is a poor choice too, as we'll be right back in the same mess in an even shorter time horizon.

Whatever the answer is, it will not be simple. Slashing debt cures old problems, without preventing new ones. Fixing the cost of education prevents new problems without addressing the old ones.

 

[BlkGS]

Do you have a suggestion for this? I agree completely, I just don't have any good ideas on that front. I think debt cancellation as a standalone concept is a poor choice too, as we'll be right back in the same mess in an even shorter time horizon.

Whatever the answer is, it will not be simple. Slashing debt cures old problems, without preventing new ones. Fixing the cost of education prevents new problems without addressing the old ones.

Cap professor salaries to a % of state median income (dependent on years of experience)

Get rid of tenure

Require athletics return a certain amount of money to the schools, increasing with each year.

Cap tuition increases to half of the previous years inflation.

Cap financial aid to foreign students to whatever foreign donations are for the school.

Cap student loans based on median salary for the degree.

Require all student applying for loans to submit a proposed budget plan based off expected costs of living, salary, and loan repayment.

This all just a start. There's plenty of other ways to force college to keep reducing their costs and increasing their educational value.



All that said... The "old problems" are people who chose not to prioritize paying down their loans, and instead spent their money on their lives, and now they're upset that they still have loans because of their own doing.

 

[adrianp89]

It’s just a populist idea, and I cannot think of a system you need to invent to do that. Why not forgive all debt, then? It seems that easy, and that money is going to this evil government anyways. Let’s just print tons of money and all become millionaires. Why not?

Gotta love joining the forum just to churn up a highly debated subject from months ago.

 

[Bruce]

Gotta love joining the forum just to churn up a highly debated subject from months ago.

Especially from a VPN IP Address to hide your real location.

 

[mwalker4]

Do you have a suggestion for this? I agree completely, I just don't have any good ideas on that front. I think debt cancellation as a standalone concept is a poor choice too, as we'll be right back in the same mess in an even shorter time horizon.

Whatever the answer is, it will not be simple. Slashing debt cures old problems, without preventing new ones. Fixing the cost of education prevents new problems without addressing the old ones.

I can agree with much of what you are saying. Cost is an issue that needs to be fixed. I personally would like to see skills focused education to be significantly subsidized and performance based. When I worked for a wireless company all of my technicians were prior military because that is one of the few organizations who provide technical training in communications. I can't justify paying for someone's advanced degrees in XXXXX Studies, law degree, or a medical degree in a specialist field. Providing a one size fits all forgiving of student debt is not a just proposal. The government should designate key skills for our economy and those areas should be subsidized.

 

[scokill]

If we are talking about forgiving college loan debt there needs to be a rebate of those who already paid off debt, or saved and/or paid cash.

 

[HangOutdoors]

Payoff my boat and we can call it good on the college debt

 

[adrianp89]

Payoff my boat and we can call it good on the college debt

I will pay off your boat, if you pay off my loans.

 

[mwalker4]

I will pay off your boat, if you pay off my loans.

I don't like this game. I have no debts / mortgages so I wouldn't make out well. How about we all pay our own debts. I'm so old fashioned.

 

[BlkGS]

Especially from a VPN IP Address to hide your real location.

Is that not standard practice now to avoid cookies and crap like that?

I switched to using opera for a browser, it has it built in, and honestly, it's great.

 

[BlkGS]

If we are talking about forgiving college loan debt there needs to be a rebate of those who already paid off debt, or saved and/or paid cash.

That's why I'd rather see it as a one time payout if x dollars to every American. But that doesn't garner votes from the educated poor who got into debt because the same people.offering to get them.outnsaid it was the only way...

 

[Bruce]

Is that not standard practice now to avoid cookies and crap like that?

I switched to using opera for a browser, it has it built in, and honestly, it's great.

Typically standard practice for those that want to hide their location. Using a VPN does not avoid tracking cookies.