Student loan 'Forgiveness",Too little to help anyone, just enough to make everyone angry

[actaeon277]

Here's how I'd solve the college debt situation:

1.) Establish a government bank/loan system
2.) Offer zero interest loans for degrees that are currently needed in the work force
3.) Make repayment of those loans function as an opt-in additional tax, that is only applied when making money off that degree
4.) Some sort of legal stipulation that would prevent someone from leaving the country before they pay back their loan

It helps everyone and improves the GDP of the country. It presents zero risk to the individual and drives people into needed fields. So you'd have far more qualified people entering the work force, taking up degrees that the market is demanding.

Till you get a glut on the market.
When I was in high school, computer programming was the "thing" to do.
4 years later, no money in it because TOO MANY people went in for it.
Pretty sure, this will make it worse

 

[Tombs]

Till you get a glut on the market.
When I was in high school, computer programming was the "thing" to do.
4 years later, no money in it because TOO MANY people went in for it.
Pretty sure, this will make it worse

It's still more financially sane than having lump sums out, as it at least provides the ability to improve things rather than just add to inflation.

 

[actaeon277]

get the government out of student loans.
No more "guaranteeing".

Bet the costs start coming down.

 

[Leadeye]

I'll be curious to see if a new legal industry gets started up finding ways to get to get more out of the loan forgiveness. Tax lawyers make a good living finding ways around taxes, I'm betting there's going to be loopholes.

 

[Onebad06vtx]

What a crock or s@@t!
FJB

 

[DoggyDaddy]

degrees that are currently needed in the work force

You mean ___________ studies? Which every HR department seems to "need" right now?

 

[DoggyDaddy]

Till you get a glut on the market.
When I was in high school, computer programming was the "thing" to do.
4 years later, no money in it because TOO MANY people went in for it.
Pretty sure, this will make it worse

See, you should've been born earlier. I was only exposed to computers when I started college in 1978. And while we didn't have to punch our own, punch cards were still being used (for Fortran IV).

It's what made me work in restaurants for 15 years before getting back to IT work.

 

[GodFearinGunTotin]

 

[mrbunky]

It’s called buying votes

 

[rooster]

No one here probably wants to hear this but I’m gonna say it anyway.

Shouting
“ I got a **** deal back in my day so those who came after me should too”

Isn’t a good argument against loan forgiveness or any other program/plan to fix college. In fact it’s not a good argument against any “progress”

 

[Mij]

I helped my wife pay off her school loans as a tradesmen when I was a 10th grade drop out, made more in 3-4 months than she made in a year at first.

After 24 years in the building & trades union I went back to school. First thing I did was get a second GED. The local school (Ivy-Tech) wouldn’t recognize my U.S.Army GED (1968).

Then I went to the school and talked to a counselor about my options, I selected a degree field and wrote them a check for the full 2 years. No loans, no grants. 2 years later I went to work for the State of Indiana in a research position with a state division, my boss was a direct report to the governor.

Now does any body want to hear or even care what my opinion of paying off some dirt bags loans is/are?

Today I pay more taxes to the state and federal govt. than a lot if not most taxpayers in the state pay. If anyone thinks I owe them something, they are welcome to come out and I’ll serve them breakfast. Then they can grab a post hole driver, cause tomorrow I’m driving posts. If they were here today they could have helped dig the hole that I buried my first cow in.

In the words of big red ———-*********——-kiss—******——*****—-and——*****-*****——******* then—-********——-*****—-****—-go——-**********——-******. And that’s all I have to say on the subject.

 

[actaeon277]

 

[actaeon277]

Uh.. we have NO idea how much this will cost.




Oh there's a GREAT plan.

 

[JTClark]

Just ban ALL government involvement in education of any kind. If you want your kids educated, YOU PAY THE BILL. You want them to ride the bus, YOU PAY IT.

I pay the little monsters education for 12 years and then have to pay their college and food and board in prison any way. End all government involvement in ALL education pre k to what ever. Just end it all.

 

[AndreusMaximus]

No one here probably wants to hear this but I’m gonna say it anyway.

Shouting
“ I got a **** deal back in my day so those who came after me should too”

Isn’t a good argument against loan forgiveness or any other program/plan to fix college. In fact it’s not a good argument against any “progress”

Umm... literally not a single person in this thread has made that argument.

Saying "I worked my rear end off to get to where I am now and I don't appreciate the government taking away my money to give to people who've had a far easier time of it then me, just because they made bad decisions and borrowed money with no plan for paying it back" is a far cry from saying "I had a rough go so everyone else should."

 

[SnoopLoggyDog]

The excitement will turn to anger in January 23, when they get letters from the IRS that the $10k counts as "income" and they have to pay taxes on it. By then, the midterms will be long over.

 

[Karl-just-Karl]

I work with two people (far more than that actually) that have willingly admitted out-loud that they think this is great. No remorse or second thoughts. They are now planning where their money is going to go for various purchases.

When asked if they have the money for other things, why they couldn't use it to pay off their debt, they smirk and say that they really didn't need the "relief" but they are glad that they are getting it. There is a total disconnect and a failure to understand that their response is just giving me a one-finger salute right in my face.

Narcissistic clown world.

 

[bobzilla]

Umm... literally not a single person in this thread has made that argument.

Saying "I worked my rear end off to get to where I am now and I don't appreciate the government taking away my money to give to people who've had a far easier time of it then me, just because they made bad decisions and borrowed money with no plan for paying it back" is a far cry from saying "I had a rough go so everyone else should."

This. I had it rough because I made poor decisions. That’s how we learn.

 

[04FXSTS]

When my wife started school for her BS in nursing we were both working and she cut her hours to what she could manage around school. I wanted a new Harley Davidson but put that off by ordering a 2004 model. That way she would graduate in the spring of 2003 and my Harley would come in that fall.
Worked out well because we paid for her schooling as we went. Did not have any money for extras for about 4 years but she walked out with her diploma and not one red cent of school debt. So now that I am retired and she is semi-retired the idiot in charge wants to steal our money to pay for student loans, bull****.
Also makes me wonder when I see interviews where people talk about being $100,000's in debt how much went to I-phones and Nikes and all the other crap these entitled kids think they have to have. We did have a phone back then, a flip phone that we shared so she could get hold of me in an emergency. Jim.

 

[KLB]

Saying "I worked my rear end off to get to where I am now and I don't appreciate the government taking away my money to give to people who've had a far easier time of it then me, just because they made bad decisions and borrowed money with no plan for paying it back" is a far cry from saying "I had a rough go so everyone else should."

Come on. They are not taking money away from us. They are piling even more debt onto the Federal Government. Our tax dollars were spent long before they would get around to this.