Relief of College debt.

[Handloader]

Mabey I am just pissy this morning, but this tugs at my taint. We didn't have a lot of money growing up. My pop was an enlisted man in the Air Force. I was one of those that joined the Army in the late 80's "open-contract" (read infantry). I didn't join for any noble reason-only to change my financial situation (it took being in the Army to teach me that). I took the college bonus and paid into the GI Bill. When I was in, I'd take compressed college classes at Ft Campbell when I was not in the field. Did my time in the Middle East, re-enlisted and went into a medical field. When I got out of the military, I used my GI bill, and would take classes while working full time. I didn't earn my PhD until I was in my 40's. No fucking debt, I payed that shit with sweat and service.

Blowing off $50K in college debt for these fuck-sticks is complete bullshit. I'm not going to get all that lost time back (family, play, hunting..etc). Moreover, I am not going to get a check for pay-back because I didn't suck welfare's tit.

Rant-off

Elizabeth Warren said canceling $50,000 in student debt would give 36 million borrowers 'permanent total relief'

President Joe Biden has faced mounting pressure to cancel $10,000 in student-loan debt — a figure Democrats have sought to raise to at least $50,000.

news.yahoo.com

 

[Maxduty]

It's not going to happen IMO. They've already had the bill for the 50K relief and it never went anywhere. Now it's down to 10K and still hasn't seen much headway. Maybe before the next election cycle, but I'm doubting it. Most of the current administrations voter base can't or hasn't gone to college cause they just got here. And it only forgives Federal loans. I think a lot of people are going to find they don't qualify even if it does pass. Seems to be a lot of lip service and foot dragging at this point.

 

[hlee]

While I am against student loan forgiveness, if it does pass, I'll put in the paperwork for my piece of the pie...

 

[Thorny]

^^^ Same, looks like i will finally get that useful degree I have wanted, "Underwater Basket Weaving"^^^^
I'm sure Focahauntis will appreciate my efforts, as much as I appreciate hers.

 

[theLBC]

i would be furious, and even more so because we wouldn't be paying for just tuition and books....
....because students get more than that now, and spend their student loan money at starbucks and panera bread, or spring break vacations, while i was living on top ramen when i was in school.

 

[Maxduty]

This is where some are going to get upset. There are only three types of Federal loans that I can find that seem to qualify.
Direct Loans, Federal Family Education Loans (FFEL), and Perkins Loans with outstanding balances. Didn't get it from the .gov and you'll be on the hook.

 

[shields shtr]

My brother took the route of the OP, got a degree in an engineering field, then ended up going into a different branch of the service. Zero college debt. I took a circuitous route and ended up just dropping out of college because I was spinning my wheels and just wasting money. I am no Elon Musk, but I do pretty good for myself and my family now and own a business. I took zero loans out while attending school, did it with savings and working construction in the summer.

The entire "higher education" system in my opinion is a fucking sham. The premise that most 18 year old kids know exactly what they are going to do in life right out of high school is crazy. So they take general course requirements, get sucked in, then feel like they have to get a degree in something or it's all for not. Then, many of them take jobs that don't pay them enough to make meaningful progress on their debt payments as they saddle themselves with more debt while buying houses and cars. It's a vicious cycle. I would agree there are some fields that may require a 4 year degree, but I would argue that 2 years (if needed) would be plenty, and at least one of those 2 years should have some on the job training.

 

[Crewdog135]

IF this passes, watch tuition across the board go up by $10k overnight. The .gov becoming the sole guarantor of college loans started the whole tuition explosion in the first place.

 

[Cowpokey]

It's not going to happen IMO. They've already had the bill for the 50K relief and it never went anywhere. Now it's down to 10K and still hasn't seen much headway. Maybe before the next election cycle, but I'm doubting it. Most of the current administrations voter base can't or hasn't gone to college cause they just got here. And it only forgives Federal loans. I think a lot of people are going to find they don't qualify even if it does pass. Seems to be a lot of lip service and foot dragging at this point.

It's campaign season again, have to get those promises of "free money" out there, to secure the youngster vote. They are too stupid to understand they signed for that debt; it's not our fault they partied for 4 years and didn't get a usable education.

 

[Cowpokey]

IF this passes, watch tuition across the board go up by $10k overnight. The .gov becoming the sole guarantor of college loans started the whole tuition explosion in the first place.

I disagree...it would go up the same amount (or more) than the amount of "forgiveness". The main reason tuition went up so much was because of student loans being so easy to get.

 

[Crewdog135]

I disagree...it would go up the same amount (or more) than the amount of "forgiveness". The main reason tuition went up so much was because of student loans being so easy to get.

Essentially we are saying the same thing I think. However much they "forgive" will definitely be looked at as a per student bonus by the colleges. And the loans are so easy to get because the .gov is the guarantor of student loans. If you see low interest student loans, the .gov has told the banks that your tax dollars guarantee the loan repayment.

 

[Cowpokey]

Essentially we are saying the same thing I think. However much they "forgive" will definitely be looked at as a per student bonus by the colleges. And the loans are so easy to get because the .gov is the guarantor of student loans. If you see low interest student loans, the .gov has told the banks that your tax dollars guarantee the loan repayment.

Yeah, sorry...I read your post to reply, not to understand.

 

[Maxduty]

Essentially we are saying the same thing I think. However much they "forgive" will definitely be looked at as a per student bonus by the colleges. And the loans are so easy to get because the .gov is the guarantor of student loans. If you see low interest student loans, the .gov has told the banks that your tax dollars guarantee the loan repayment.

If it's from a bank or private institution, federal protections no longer apply according to my understanding. That's the part of the forgiveness that going to bite people in the ass. Those loans are private. As I understand it, only the three loans listed above can have forgiveness applied in the event it happens.

 

[lariat]

This is the issue: people want to get the benefits of their labor without working for it. And it is an injustice. I killed myself to get through college, working full time and going to school near full time. Graveyard shifts, hauling cotton gin parts across the state, working in wheat mills, just doing whatever to get it done. There was real benefit to that - its called growing the fuck up and being an adult.

By granting forgiveness there is a massive benefit to BOTH the debtor and society that is being denied. It removes the learning that's comes with bad decision making and creates a situation where more bad decisions that have a high probability of being paid for by the taxpayers occur. By NOT paying the loans, it allows the real world to say with a loud an clear message: "you fucked up. No one wants to pay you for the bullshit you went to college for, and it has no value in the marketplace. Therefore you now have to work where you can to pay it off and figure out your next course of action and get better at making decisions". This benefits society. Answering for our mistakes produces wisdom and a more efficient use of resources in the country. Coddling losers benefits no one except the communists.

YOU made the decision, I didn't. You pay for your decisions, don't take my tax dollars and think for one second that you are not stealing.

 

[Maggot]

Basically, then the Feds are GIVING each person 50K. Why dont I get cut a check for 50?

 

[RUTGERS95]

its' wrong, plain and simple. you took the loan, you pay for it. parents and kids need to be more responsible and colleges need to cut the fat. when I was in school, professors and admin didn't make nearly what they make

 

[Franko]

If you borrowed the money you can pay it back. Shut the fuck up about how inconvenient it is and get to work.

 

[davsco]

It's not going to happen IMO.

oh i thought a bunch of student loans have been forgiven or paid off already, no?

either way, yes, complete BS and blatant robbing from peter to pay paul. college is an INVESTMENT, not an entitlement and should be viewed and treated as such. you know what the cost will be and should have a pretty good idea of what the payout (ie salary etc) will be. if the math doesn't work, go to Plan B. there are plenty of folks that didn't waste money on college but are working hard and doing great.

but folks like me that worked multiple jobs during school and graduated debt-free, and those that similarly took the military and VA route, and those that took on debt but worked hard to pay it off, we're getting screwed royally!

 

[davsco]

Basically, then the Feds are GIVING each person 50K. Why dont I get cut a check for 50?

yes if you're going to raise my taxes to pay for this bullsh1t, then at least hand the $$ out to EVERYONE, including the folks that made good decisions.

 

[Animal357]

It's free, what's the problem?????????????????

 

[theLBC]

IF this passes, watch tuition across the board go up by $10k overnight. The .gov becoming the sole guarantor of college loans started the whole tuition explosion in the first place.

a lot of folks don't understand why tuition is so expensive already.
hint: it isn't pay raises for professors...
example: i read that university of chicago spends $13 million on diversity staff alone with avg salary of $80k.

 

[BCP]

Make it go away in a bankruptcy. The way our society is built around debt slavery is bullshit.

 

[DocRDS]

I paid my loans. give me double or quadruple.

Get to work slackers and pay back your loans.

 

[vinniedelpino]

Boy do I feel like an asshole for working two jobs while going to school full time and paying tuition out of pocket.

That's gonna be a BIG step closer to completely losing my shit.

 

[W54/XM-388]

Make it go away in a bankruptcy. The way our society is built around debt slavery is bullshit.

That simple change would be a good start.
I'd also suggest that the whole B.S. about how you have to front pay all the interest and you also have to pay all the interest as if it went on forever, even if you pay it off right away needs to change right away.
Making it calculated exactly like you would a normal mortgage or car loan, with no penalties for early payoff and maybe at the same rate as the Fed Funds rate or similar, if the government is getting involved.

But all in all, it's a great comeuppance for all the stupid young folks who so worshiped biden and bernie and were willing to do anything and vote anyone who promised them free stuff. They get in and it's "about that free stuff..."

It's pretty much going to stay dead like most campaign promises both sides make to their voters.

 

[JMGlasgow]

 

[vinniedelpino]

How about we start by refusing to respect "men" that don't pay their debts and keep their word?

Make it known that we view view them as children and interact with them accordingly. The whole passive aggressive thing is awesome once you figure out how to work it....

 

[Maggot]

a lot of folks don't understand why tuition is so expensive already.
hint: it isn't pay raises for professors...
example: i read that university of chicago spends $13 million on diversity staff alone with avg salary of $80k.

Cheap fucking bastards.

San Francisco pays 80K to people for picking up human turds.

 

[hlee]

How about we start by refusing to respect "men" that don't pay their debts and keep their word?

Make it known that we view view them as children and interact with them accordingly. The whole passive aggressive thing is awesome once you figure out how to work it....

Yes. Children cannot get a loan, and are not responsible for the repayment. I'm pretty sure most that advocate for loan forgiveness are TRYING to be treated as children...

 

[Hobo Hilton]

Mabey I am just pissy this morning, but this tugs at my taint. We didn't have a lot of money growing up. My pop was an enlisted man in the Air Force. I was one of those that joined the Army in the late 80's "open-contract" (read infantry). I didn't join for any noble reason-only to change my financial situation (it took being in the Army to teach me that). I took the college bonus and paid into the GI Bill. When I was in, I'd take compressed college classes at Ft Campbell when I was not in the field. Did my time in the Middle East, re-enlisted and went into a medical field. When I got out of the military, I used my GI bill, and would take classes while working full time. I didn't earn my PhD until I was in my 40's. No fucking debt, I payed that shit with sweat and service.

Blowing off $50K in college debt for these fuck-sticks is complete bullshit. I'm not going to get all that lost time back (family, play, hunting..etc). Moreover, I am not going to get a check for pay-back because I didn't suck welfare's tit.

Rant-off

Elizabeth Warren said canceling $50,000 in student debt would give 36 million borrowers 'permanent total relief'

President Joe Biden has faced mounting pressure to cancel $10,000 in student-loan debt — a figure Democrats have sought to raise to at least $50,000.

news.yahoo.com

When I run across a man like you, I can tell you have something the other's don't have. Something money can't buy. I'm sure you understand.

 

[jbuck88]

IMO the reason it got out of control is when the Feds guaranteed repayment. They made the loans so they weren't a allowed to be dismissed thru bankruptcy. After this everyone wanted to give "students" money knowing they had very little to no risk at all. Then of course the colleges and universities see their ability to jack up rates since now anyone could afford them with guaranteed loans.

Fix it, by removing that protection.

 

[NoDopes]

I need to go back to school until I'm old enough to retire... Free money and healthcare..

 

[W54/XM-388]

IMO the reason it got out of control is when the Feds guaranteed repayment. They made the loans so they weren't a allowed to be dismissed thru bankruptcy. After this everyone wanted to give "students" money knowing they had very little to no risk at all. Then of course the colleges and universities see their ability to jack up rates since now anyone could afford them with guaranteed loans.

Fix it, by removing that protection.

The government also guaranteed that they would get all the interest and it wouldn't matter if the person repaid the loan early...

 

[Cowpokey]

And to think, I paid in to the GI Bill (back in the day, if you wanted it you had to do that) and have never used any of it. Thankfully they took away the 10 year expiration on it, so at some point if I want to go to school I'll still have that option.

 

[archangel485]

The far left will keep pushing for this until they get it. The good news is the far left is losing political clout in a hurry as of late. But this really isn't any different than any number of socialist policies already in place. For example, income taxes. There is a fairly large group of people who get the earned income tax credit (nothing earned about it) who literally pay in nothing and get thousands back. Same thing could be said of the child tax credit, although to be fair a much larger percentage of the population gets that one. This is no different, just another avenue for the government to hand out money to those who don't work as hard, in this case at getting a degree without blowing all their money.

 

[vinniedelpino]

Yes. Children cannot get a loan, and are not responsible for the repayment. I'm pretty sure most that advocate for loan forgiveness are TRYING to be treated as children...

Only when it's convenient for them. They can't have their cake and eat it too.

 

[TurboTrout]

The simple way to fix this is get the government out of the education industry.

If you were a school, folks could BK out of your loans just like a car loan, you wouldn’t dream of trying to sell some dumb 19yr old bimbo a 100k “art degree” because you know she will just end up a bartender or something and you have a snowballs chance in hell of getting that money back.

 

[Rthur]

Couple of questions:
Have those with a loan earned a degree?
Do those with a degree consider themselves to be educated?
Do people without degrees understand the requirements of a loan?
...

R

 

[TurboTrout]

Couple of questions:
Have those with a loan earned a degree?
Do those with a degree consider themselves to be educated?
Do people without degrees understand the requirements of a loan?
...

R

I always viewed education as a business expense, so for me it’s; after you left the school what was your ROI on tuition.

 

[Hobo Hilton]

I always viewed education as a business expense, so for me it’s; after you left the school what was your ROI on tuition.

That is one of my Philosophy's of like.... I have dabbled in many things. Paying to "dabble", to me, is simply a tuition paid to learn something. An example, I took a chunk of extra money and day traded for several months. What ever I lost was, to me, simply paying tuition to learn a lesson.

Those lesson's will stick with a person for the rest of their life. We pay to play.. ROI could take a lifetime to regain... For the savvy.

 

[TurboTrout]

That is one of my Philosophy's of like.... I have dabbled in many things. Paying to "dabble", to me, is simply a tuition paid to learn something. An example, I took a chunk of extra money and day traded for several months. What ever I lost was, to me, simply paying tuition to learn a lesson.

Those lesson's will stick with a person for the rest of their life. We pay to play.. ROI could take a lifetime to regain... For the savvy.

True, I have also paid for education that I knew would have a small chance of breaking even.

However, in my opinion, that’s the difference between going into it as a career “your future” type arrangement, vs going into it as a curiosity/hobby.

Having a family income of 70k a year and sending Jr to school for a 100k degree, often this isn’t viewed as a hobby move, it’s often approached as a means for one’s offspring to gain good/specialized employment

 

[DarnYankeeUSMC]

I am all for a partial free education.
1. An aptitude test is given. Similar to the asvab.
2. To qualify the person must be enrolled in a degree course in line with the test. To include a person going into a trade school. Because not everyone is college material.
3. It will be paid back through a payroll deduction similar to social security. A percentage is automatically deducted from the paycheck.
4. All courses not in the study subject are at the expense of the student.
5. No forgiveness for the loan.
6. Schools must qualify for the program.
7. No More Welfare!!!

 

[Bigfatcock]

I solved my student loan problem by never going to college.

I had really good guidance counselors who told me I was going to likely end up in jail, so college wasn’t even a discussion, lol. They saved me so much money.

 

[TurboTrout]

I am all for a partial free education.
1. An aptitude test is given. Similar to the asvab.
2. To qualify the person must be enrolled in a degree course in line with the test. To include a person going into a trade school. Because not everyone is college material.
3. It will be paid back through a payroll deduction similar to social security. A percentage is automatically deducted from the paycheck.
4. All courses not in the study subject are at the expense of the student.
5. No forgiveness for the loan.
6. Schools must qualify for the program.
7. No More Welfare!!!

Why do I have to make loans, with no interest paid back into my paycheck, under the threat of violence to random losers?

I paid for mine, I have zero desire to pay for others just because their parents are dead beats and they don’t want to get a job themselves.

 

[Crewdog135]

I have two in undergrad now (one pre-Physical Therapy, one pre-Med). Both worked their asses off and both got substantial scholarships. Wife and I pick up the balance, because we can and the kids are doing their part. I've told them grad school is on them. I have 2 younger kids in middle school. At this point, they are less motivated. I've told them that the support they received is commensurate with the effort put forth. They've had all the same opportunities, what they do with it is on them.

 

[RUTGERS95]

Why do I have to make loans, with no interest paid back into my paycheck, under the threat of violence to random losers?

I paid for mine, I have zero desire to pay for others just because their parents are dead beats and they don’t want to get a job themselves.

I agree, my only issue is the cost of education today. It's really gotten out of hand and something needs to be done

 

[TurboTrout]

I agree, my only issue is the cost of education today. It's really gotten out of hand and something needs to be done

Get the government out of it, let it be free market and let someone be able to treat the loan the same as a car loan, frankly a used car has more value than most of the BS in these schools.

Folks also need to treat it like buying a product for a business, people don’t have a issue asking what invoice is on a car, why don’t people go on about what the real cost is per credit hour per student.

We involved gov (seldom turns out well) and elevated the education industry to near religious levels.

 

[sirhrmechanic]

Amazing how all the little weenies who are whining about student debt are buying Tesla's, $1500 phones (with $2500 a year plans) and drinking $7 Starbucks Lattes....

Just 'sayin.

Pay back your loans hippie fruitbats. If you wanted a free education, the GI Bill works great!

Sirhr

 

[TurboTrout]

Amazing how all the little weenies who are whining about student debt are buying Tesla's, $1500 phones (with $2500 a year plans) and drinking $7 Starbucks Lattes....

Just 'sayin.

Pay back your loans hippie fruitbats. If you wanted a free education, the GI Bill works great!

Sirhr

Most of the ones with 100k art degrees ain’t driving anything nice, are financing the phones and probably buying the latte with their credit card, yeah crippling debt lol

 

[DarnYankeeUSMC]

Why do I have to make loans, with no interest paid back into my paycheck, under the threat of violence to random losers?

I paid for mine, I have zero desire to pay for others just because their parents are dead beats and they don’t want to get a job themselves.

Small price, that's already paid. No more welfare, food stamps or any other free shit is the trade off.
Illegals would run for the border heading back. Local, state and federal taxes will be reduced.
You are thinking about you. Not what is best for the Republic. It would remove the voter base that keeps the piglosi, AOC, finestien and the rest in office.
But if you can't see that....