$1.6T Student Debt - No Warning, Just Gone
https://www.foxnews.com/politics/bernie-sanders-to-propose-eliminating-all-1-6-trillion-of-student-debt-in-america
Look, no one thinks student debt problem is more out of control than I do.
However, this 'solution' is:
a) not creative
b) nothing more than a plan to buy, err bribe for, votes
More from the party of unintended consequences. As always the Devil will be in the details...
Comments
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When you support handing out trillions in cash every year, it’s probably best you don’t cry about bribing people for votes.
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I support handing out trillions in cash? Since when?allpurpleallgold said:When you support handing out trillions in cash every year, it’s probably best you don’t cry about bribing people for votes.
Link please. -
I would agree that buy votes through handing out cash is very much a bi-partisan problem.allpurpleallgold said:When you support handing out trillions in cash every year, it’s probably best you don’t cry about bribing people for votes.
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UBI? I was like 95% sure you at least liked the idea of it.pawz said:
I support handing out trillions in cash? Since when?allpurpleallgold said:When you support handing out trillions in cash every year, it’s probably best you don’t cry about bribing people for votes.
Link please. -
Which as Benjamin Franklin predicted "will herald the end of the Republic".YellowSnow said:
I would agree that buy votes through handing out cash is very much a bi-partisan problem.allpurpleallgold said:When you support handing out trillions in cash every year, it’s probably best you don’t cry about bribing people for votes.
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Intellectually curious.allpurpleallgold said:
UBI? I was like 95% sure you at least liked the idea of it.pawz said:
I support handing out trillions in cash? Since when?allpurpleallgold said:When you support handing out trillions in cash every year, it’s probably best you don’t cry about bribing people for votes.
Link please.
I like the fact that Yang has enough foresight to see a looming problem that will effect millions and his willingness to get out in front. I'm not convinced that is the solution. I concede it seems to be working in Alaska.
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Why not just pay off all the home mortgages? Much more effective at freeing up money to poor into the economy. Paying for stupid useless degrees will few up nothing since those people can't aren't making their payments anyway.
But I say pay your own Fucking debt you promised to repay.
But hell I'm just an honest person that does what he says he'll do. -
Yes.YellowSnow said:
I would agree that buy votes through handing out cash is very much a bi-partisan problem.allpurpleallgold said:When you support handing out trillions in cash every year, it’s probably best you don’t cry about bribing people for votes.
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Also, I've got a better idea than debt forgiveness. How about we actually make people uphold the obligations they willingly signed up for, and do something to reduce the cost of college in a substantial way so that future generations are not completely fucked over by these out of control spiraling costs. My solution is to fire about half of the administration at all colleges and that would allow tuition to be reduced by 15-20% right there.
I made those numbers up, but still. Poont stands. -
So I agree to a point. I'm not sure if this is true, you guys can speak better than I can to this. But I've heard from quite a few people that they think UW and other universities really bring in the immigrants such as Chinese to fill the student population. Because they pay way higher tuition rates than in State kids do.Swaye said:Also, I've got a better idea than debt forgiveness. How about we actually make people uphold the obligations they willingly signed up for, and do something to reduce the cost of college in a substantial way so that future generations are not completely fucked over by these out of control spiraling costs. My solution is to fire about half of the administration at all colleges and that would allow tuition to be reduced by 15-20% right there.
I made those numbers up, but still. Poont stands.
I do agree on the administration and cutting costs. I'd also like to add that they waste a shit ton of funding on meaningless research. What about separating the research from the educational arms of universities? -
Oh and I disagree with getting rid of student debt. The only thing I'd support is a system where you pay on time for X number of years and the rest is forgiven. So if your loans are 15 years and you pay on time the first 10, then cool. And you can only have so many months of deferment.
I know a dude who makes about $140k a year, graduated 6 years ago. Came out making $120k. His $150k in loans is still in deferment. Like how does that work? He graduated from wsu so that explains part of it. -
The Chinese are all over UW last I heard 2 years ago they were paying 95k a year. That's what I was told.2001400ex said:
So I agree to a point. I'm not sure if this is true, you guys can speak better than I can to this. But I've heard from quite a few people that they think UW and other universities really bring in the immigrants such as Chinese to fill the student population. Because they pay way higher tuition rates than in State kids do.Swaye said:Also, I've got a better idea than debt forgiveness. How about we actually make people uphold the obligations they willingly signed up for, and do something to reduce the cost of college in a substantial way so that future generations are not completely fucked over by these out of control spiraling costs. My solution is to fire about half of the administration at all colleges and that would allow tuition to be reduced by 15-20% right there.
I made those numbers up, but still. Poont stands.
I do agree on the administration and cutting costs. I'd also like to add that they waste a shit ton of funding on meaningless research. What about separating the research from the educational arms of universities? -
I have a friend with three kids. All in school at the same time. Daughter went to Pepperdine, one son to Brown and the other son was at Auburn. He was spending over 130K a year for his kids' education. His wife had told the kids they could go where they wanted and she was writing checks that were very difficult for her husband to cover. In September he discovered that his son at Auburn was about to flunk out from Spring term (too much partying), his son at Brown was changing his major to Education and when the kids grandmother had a heart attack and he called his daughter in the middle of the night in her single bed dorm room at Pepperdine a guy answered the phone. At Christmas break they exchanged gifts like they always did and each kid got an envelope with a one way ticket back to Atlanta to go to a state school of their choice. No way was he going to pay for his daughters latest boyfriend to live at Pepperdine (he wasn't even a student), his son to party his brains out while he was paying out of state to Auburn and what pissed him off the most was he was spending about 70K for his son at Brown who changed from a specialized technical degree to a elementary education degree that he could get at one of our local schools around Atlanta. They bitched but he told them if they didn't want the deal that they were on their own. In addition each kid had to take on 33% of the cost of their education. The expense went from $135K a year to 36K and the kids were covering 12K of that so he had a net savings of $111K a year. The youngest is a senior at UGA but the other two have graduated and have great jobs they are happy with. My friend made the two older kids pay on their debt for two years after college and then paid the debt off if he found they never missed a payment which the two oldest never did. The youngest, like the other two, will never hear of his father paying all their debt off until he gets the gift.
The point of the story? College doesn't have to break the bank. There are much cheaper ways to go about things. People who run up $150K in debt and then can't pay it back have no right to be taking that debt on in the first place. It is cheating the tax payers and hurting the help pool for those that need it and are doing things wisely. We shouldn't be loaning money to people who are getting an art history degree from an out of state tuition school. No one should be getting loans for out of state. It is clearly a waste of money. And yes, the problem is that the college campus cocoon has tripled the amount of administrators over the last 3 decades and it has driven the cost of an education into the stratosphere in some cases. On a side note, no one who goes to Harvard or Stanford should ever have to pay a dime. Their endowments would cover free education for a hundred years, the greedy bastards. -
Why should your student loan debt be forgiven just because you've paid on time for a number of years?2001400ex said:Oh and I disagree with getting rid of student debt. The only thing I'd support is a system where you pay on time for X number of years and the rest is forgiven. So if your loans are 15 years and you pay on time the first 10, then cool. And you can only have so many months of deferment.
I know a dude who makes about $140k a year, graduated 6 years ago. Came out making $120k. His $150k in loans is still in deferment. Like how does that work? He graduated from wsu so that explains part of it. -
CSBBendintheriver said:I have a friend with three kids. All in school at the same time. Daughter went to Pepperdine, one son to Brown and the other son was at Auburn. He was spending over 130K a year for his kids' education. His wife had told the kids they could go where they wanted and she was writing checks that were very difficult for her husband to cover. In September he discovered that his son at Auburn was about to flunk out from Spring term (too much partying), his son at Brown was changing his major to Education and when the kids grandmother had a heart attack and he called his daughter in the middle of the night in her single bed dorm room at Pepperdine a guy answered the phone. At Christmas break they exchanged gifts like they always did and each kid got an envelope with a one way ticket back to Atlanta to go to a state school of their choice. No way was he going to pay for his daughters latest boyfriend to live at Pepperdine (he wasn't even a student), his son to party his brains out while he was paying out of state to Auburn and what pissed him off the most was he was spending about 70K for his son at Brown who changed from a specialized technical degree to a elementary education degree that he could get at one of our local schools around Atlanta. They bitched but he told them if they didn't want the deal that they were on their own. In addition each kid had to take on 33% of the cost of their education. The expense went from $135K a year to 36K and the kids were covering 12K of that so he had a net savings of $111K a year. The youngest is a senior at UGA but the other two have graduated and have great jobs they are happy with. My friend made the two older kids pay on their debt for two years after college and then paid the debt off if he found they never missed a payment which the two oldest never did. The youngest, like the other two, will never hear of his father paying all their debt off until he gets the gift.
The point of the story? College doesn't have to break the bank. There are much cheaper ways to go about things. People who run up $150K in debt and then can't pay it back have no right to be taking that debt on in the first place. It is cheating the tax payers and hurting the help pool for those that need it and are doing things wisely. We shouldn't be loaning money to people who are getting an art history degree from an out of state tuition school. No one should be getting loans for out of state. It is clearly a waste of money. And yes, the problem is that the college campus cocoon has tripled the amount of administrators over the last 3 decades and it has driven the cost of an education into the stratosphere in some cases. On a side note, no one who goes to Harvard or Stanford should ever have to pay a dime. Their endowments would cover free education for a hundred years, the greedy bastards.
JFC
WTF?
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YAADS
Have another pint Cirrhosis. The sooner the liver gives out the happier you will be. -
As an incentive to actually pay them down. It's too easy to just let them roll in deferment. As my post indicated.SFGbob said:
Why should your student loan debt be forgiven just because you've paid on time for a number of years?2001400ex said:Oh and I disagree with getting rid of student debt. The only thing I'd support is a system where you pay on time for X number of years and the rest is forgiven. So if your loans are 15 years and you pay on time the first 10, then cool. And you can only have so many months of deferment.
I know a dude who makes about $140k a year, graduated 6 years ago. Came out making $120k. His $150k in loans is still in deferment. Like how does that work? He graduated from wsu so that explains part of it.
Back in the day, my loans, if I made all 12 payments, I'd get a letter every year saying 1% of my loans were forgiven. And my interest rate was reduced under 3% after a couple years. -
Did the daughter hook up with Skinny at UGA in a fivesome?Bendintheriver said:I have a friend with three kids. All in school at the same time. Daughter went to Pepperdine, one son to Brown and the other son was at Auburn. He was spending over 130K a year for his kids' education. His wife had told the kids they could go where they wanted and she was writing checks that were very difficult for her husband to cover. In September he discovered that his son at Auburn was about to flunk out from Spring term (too much partying), his son at Brown was changing his major to Education and when the kids grandmother had a heart attack and he called his daughter in the middle of the night in her single bed dorm room at Pepperdine a guy answered the phone. At Christmas break they exchanged gifts like they always did and each kid got an envelope with a one way ticket back to Atlanta to go to a state school of their choice. No way was he going to pay for his daughters latest boyfriend to live at Pepperdine (he wasn't even a student), his son to party his brains out while he was paying out of state to Auburn and what pissed him off the most was he was spending about 70K for his son at Brown who changed from a specialized technical degree to a elementary education degree that he could get at one of our local schools around Atlanta. They bitched but he told them if they didn't want the deal that they were on their own. In addition each kid had to take on 33% of the cost of their education. The expense went from $135K a year to 36K and the kids were covering 12K of that so he had a net savings of $111K a year. The youngest is a senior at UGA but the other two have graduated and have great jobs they are happy with. My friend made the two older kids pay on their debt for two years after college and then paid the debt off if he found they never missed a payment which the two oldest never did. The youngest, like the other two, will never hear of his father paying all their debt off until he gets the gift.
The point of the story? College doesn't have to break the bank. There are much cheaper ways to go about things. People who run up $150K in debt and then can't pay it back have no right to be taking that debt on in the first place. It is cheating the tax payers and hurting the help pool for those that need it and are doing things wisely. We shouldn't be loaning money to people who are getting an art history degree from an out of state tuition school. No one should be getting loans for out of state. It is clearly a waste of money. And yes, the problem is that the college campus cocoon has tripled the amount of administrators over the last 3 decades and it has driven the cost of an education into the stratosphere in some cases. On a side note, no one who goes to Harvard or Stanford should ever have to pay a dime. Their endowments would cover free education for a hundred years, the greedy bastards.
Axing for a fren.
YKW, too.
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If an incentive like that would work I would have no problem with it but we have to put in rules now so that there are no more $160K BS's and BA's worth of loans. It makes zero sense.2001400ex said:
As an incentive to actually pay them down. It's too easy to just let them roll in deferment. As my post indicated.SFGbob said:
Why should your student loan debt be forgiven just because you've paid on time for a number of years?2001400ex said:Oh and I disagree with getting rid of student debt. The only thing I'd support is a system where you pay on time for X number of years and the rest is forgiven. So if your loans are 15 years and you pay on time the first 10, then cool. And you can only have so many months of deferment.
I know a dude who makes about $140k a year, graduated 6 years ago. Came out making $120k. His $150k in loans is still in deferment. Like how does that work? He graduated from wsu so that explains part of it.
Back in the day, my loans, if I made all 12 payments, I'd get a letter every year saying 1% of my loans were forgiven. And my interest rate was reduced under 3% after a couple years.
I would like to have known who you were getting your loans through. They never offered anything like that to me! -
Homes are saleable. Diplomas are not.Sledog said:Why not just pay off all the home mortgages?
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How about the incentive that you signed a contract and borrowed the money now you're on the hook to pay it back. People should pay back the money they are contractually obligated to pay and not one penny less.2001400ex said:
As an incentive to actually pay them down. It's too easy to just let them roll in deferment. As my post indicated.SFGbob said:
Why should your student loan debt be forgiven just because you've paid on time for a number of years?2001400ex said:Oh and I disagree with getting rid of student debt. The only thing I'd support is a system where you pay on time for X number of years and the rest is forgiven. So if your loans are 15 years and you pay on time the first 10, then cool. And you can only have so many months of deferment.
I know a dude who makes about $140k a year, graduated 6 years ago. Came out making $120k. His $150k in loans is still in deferment. Like how does that work? He graduated from wsu so that explains part of it.
Back in the day, my loans, if I made all 12 payments, I'd get a letter every year saying 1% of my loans were forgiven. And my interest rate was reduced under 3% after a couple years.
You shouldn't need an incentive not to be a dead beat. -
My dad was pour so they were federal subsidized loans. He made too much for Pell Grant. I actually paid a chunk of my college at the time which was dumb looking back. I should have maxed out the loans at interest free during college and put the money I was paying for school into investments.Bendintheriver said:
If an incentive like that would work I would have no problem with it but we have to put in rules now so that there are no more $160K BS's and BA's worth of loans. It makes zero sense.2001400ex said:
As an incentive to actually pay them down. It's too easy to just let them roll in deferment. As my post indicated.SFGbob said:
Why should your student loan debt be forgiven just because you've paid on time for a number of years?2001400ex said:Oh and I disagree with getting rid of student debt. The only thing I'd support is a system where you pay on time for X number of years and the rest is forgiven. So if your loans are 15 years and you pay on time the first 10, then cool. And you can only have so many months of deferment.
I know a dude who makes about $140k a year, graduated 6 years ago. Came out making $120k. His $150k in loans is still in deferment. Like how does that work? He graduated from wsu so that explains part of it.
Back in the day, my loans, if I made all 12 payments, I'd get a letter every year saying 1% of my loans were forgiven. And my interest rate was reduced under 3% after a couple years.
I would like to have known who you were getting your loans through. They never offered anything like that to me! -
Sounds like they have a contract!SFGbob said:
How about the incentive that you signed a contract and borrowed the money now you're on the hook to pay it back. People should pay back the money they are contractually obligated to pay and not one penny less.2001400ex said:
As an incentive to actually pay them down. It's too easy to just let them roll in deferment. As my post indicated.SFGbob said:
Why should your student loan debt be forgiven just because you've paid on time for a number of years?2001400ex said:Oh and I disagree with getting rid of student debt. The only thing I'd support is a system where you pay on time for X number of years and the rest is forgiven. So if your loans are 15 years and you pay on time the first 10, then cool. And you can only have so many months of deferment.
I know a dude who makes about $140k a year, graduated 6 years ago. Came out making $120k. His $150k in loans is still in deferment. Like how does that work? He graduated from wsu so that explains part of it.
Back in the day, my loans, if I made all 12 payments, I'd get a letter every year saying 1% of my loans were forgiven. And my interest rate was reduced under 3% after a couple years.
You shouldn't need an incentive not to be a dead beat. -
I hear that banks can foreclose on people even if they're current on their loans. At least that's what some fucking moron from El Monte said.CirrhosisDawg said:
Sounds like they have a contract!SFGbob said:
How about the incentive that you signed a contract and borrowed the money now you're on the hook to pay it back. People should pay back the money they are contractually obligated to pay and not one penny less.2001400ex said:
As an incentive to actually pay them down. It's too easy to just let them roll in deferment. As my post indicated.SFGbob said:
Why should your student loan debt be forgiven just because you've paid on time for a number of years?2001400ex said:Oh and I disagree with getting rid of student debt. The only thing I'd support is a system where you pay on time for X number of years and the rest is forgiven. So if your loans are 15 years and you pay on time the first 10, then cool. And you can only have so many months of deferment.
I know a dude who makes about $140k a year, graduated 6 years ago. Came out making $120k. His $150k in loans is still in deferment. Like how does that work? He graduated from wsu so that explains part of it.
Back in the day, my loans, if I made all 12 payments, I'd get a letter every year saying 1% of my loans were forgiven. And my interest rate was reduced under 3% after a couple years.
You shouldn't need an incentive not to be a dead beat. -
There's a lot of things people should and shouldn't be. You shouldn't be a Homophobic faggot but we accept that. A lot of people are deadbeats. A lot of college graduates defer their student loans indefinitely. Reducing the liability also brings more money into the economy for people who are actually educated. For someone who supports tax cuts for the wealthy. I'd think you'd support invectives for people who actually pay their debts.SFGbob said:
How about the incentive that you signed a contract and borrowed the money now you're on the hook to pay it back. People should pay back the money they are contractually obligated to pay and not one penny less.2001400ex said:
As an incentive to actually pay them down. It's too easy to just let them roll in deferment. As my post indicated.SFGbob said:
Why should your student loan debt be forgiven just because you've paid on time for a number of years?2001400ex said:Oh and I disagree with getting rid of student debt. The only thing I'd support is a system where you pay on time for X number of years and the rest is forgiven. So if your loans are 15 years and you pay on time the first 10, then cool. And you can only have so many months of deferment.
I know a dude who makes about $140k a year, graduated 6 years ago. Came out making $120k. His $150k in loans is still in deferment. Like how does that work? He graduated from wsu so that explains part of it.
Back in the day, my loans, if I made all 12 payments, I'd get a letter every year saying 1% of my loans were forgiven. And my interest rate was reduced under 3% after a couple years.
You shouldn't need an incentive not to be a dead beat. -
They can’t? I’m sure you have a link. Answer the question GayBob.SFGbob said:
I hear that banks can foreclose on people even if they're current on their loans. At least that's what some fucking moron from El Monte said.CirrhosisDawg said:
Sounds like they have a contract!SFGbob said:
How about the incentive that you signed a contract and borrowed the money now you're on the hook to pay it back. People should pay back the money they are contractually obligated to pay and not one penny less.2001400ex said:
As an incentive to actually pay them down. It's too easy to just let them roll in deferment. As my post indicated.SFGbob said:
Why should your student loan debt be forgiven just because you've paid on time for a number of years?2001400ex said:Oh and I disagree with getting rid of student debt. The only thing I'd support is a system where you pay on time for X number of years and the rest is forgiven. So if your loans are 15 years and you pay on time the first 10, then cool. And you can only have so many months of deferment.
I know a dude who makes about $140k a year, graduated 6 years ago. Came out making $120k. His $150k in loans is still in deferment. Like how does that work? He graduated from wsu so that explains part of it.
Back in the day, my loans, if I made all 12 payments, I'd get a letter every year saying 1% of my loans were forgiven. And my interest rate was reduced under 3% after a couple years.
You shouldn't need an incentive not to be a dead beat. -
You can't defer your loans indefinitely. Do you have any more fantasy stories you'd like tell us Hondo? I support invective for people who don't pay their debts.2001400ex said:
There's a lot of things people should and shouldn't be. You shouldn't be a Homophobic faggot but we accept that. A lot of people are deadbeats. A lot of college graduates defer their student loans indefinitely. Reducing the liability also brings more money into the economy for people who are actually educated. For someone who supports tax cuts for the wealthy. I'd think you'd support invectives for people who actually pay their debts.SFGbob said:
How about the incentive that you signed a contract and borrowed the money now you're on the hook to pay it back. People should pay back the money they are contractually obligated to pay and not one penny less.2001400ex said:
As an incentive to actually pay them down. It's too easy to just let them roll in deferment. As my post indicated.SFGbob said:
Why should your student loan debt be forgiven just because you've paid on time for a number of years?2001400ex said:Oh and I disagree with getting rid of student debt. The only thing I'd support is a system where you pay on time for X number of years and the rest is forgiven. So if your loans are 15 years and you pay on time the first 10, then cool. And you can only have so many months of deferment.
I know a dude who makes about $140k a year, graduated 6 years ago. Came out making $120k. His $150k in loans is still in deferment. Like how does that work? He graduated from wsu so that explains part of it.
Back in the day, my loans, if I made all 12 payments, I'd get a letter every year saying 1% of my loans were forgiven. And my interest rate was reduced under 3% after a couple years.
You shouldn't need an incentive not to be a dead beat. -
take away fed loans and watch the price of tuition collapse
If you can't afford to pay back the loans, that was a pretty bad decision on your part. All that debt to study 17 genders
SAD -
If you know how to work the system. Indefinitely isn't far off. Or if your loan was prior to 1993.SFGbob said:
You can't defer your loans indefinitely. Do you have any more fantasy stories you'd like tell us Hondo? I support invective for people who don't pay their debts.2001400ex said:
There's a lot of things people should and shouldn't be. You shouldn't be a Homophobic faggot but we accept that. A lot of people are deadbeats. A lot of college graduates defer their student loans indefinitely. Reducing the liability also brings more money into the economy for people who are actually educated. For someone who supports tax cuts for the wealthy. I'd think you'd support invectives for people who actually pay their debts.SFGbob said:
How about the incentive that you signed a contract and borrowed the money now you're on the hook to pay it back. People should pay back the money they are contractually obligated to pay and not one penny less.2001400ex said:
As an incentive to actually pay them down. It's too easy to just let them roll in deferment. As my post indicated.SFGbob said:
Why should your student loan debt be forgiven just because you've paid on time for a number of years?2001400ex said:Oh and I disagree with getting rid of student debt. The only thing I'd support is a system where you pay on time for X number of years and the rest is forgiven. So if your loans are 15 years and you pay on time the first 10, then cool. And you can only have so many months of deferment.
I know a dude who makes about $140k a year, graduated 6 years ago. Came out making $120k. His $150k in loans is still in deferment. Like how does that work? He graduated from wsu so that explains part of it.
Back in the day, my loans, if I made all 12 payments, I'd get a letter every year saying 1% of my loans were forgiven. And my interest rate was reduced under 3% after a couple years.
You shouldn't need an incentive not to be a dead beat.
https://studentaid.ed.gov/sa/repay-loans/deferment-forbearance -
CD only has 17 genders? Is guess 57.RaceBannon said:take away fed loans and watch the price of tuition collapse
If you can't afford to pay back the loans, that was a pretty bad decision on your part. All that debt to study 17 genders
SAD
