Economy Studen Loan Forgiveness by EO, Biden say nope.

[HAWTRIDDUM]

Biden is a banking president, wall street owned his ass long before he was even the vice president.

Wall street tells him and Kamala no on forgiving student debt, they will obey.

 

[RogerB08]

That's a pretty bad comparison. You're comparing people getting a loan and agreeing to the terms of repayment to people who use existing law to re-structure and do things favorable to their finances and company health.

A better comparison might be anyone with a car or home loan.

You make that agreement at 18 or 19 years old with you're whole working life ahead of you under the impression that you'll get a job that will enable you to pay it back. By the time you figure out you fell into a trap, it's too late.

 

[Rob Battisti]

Ban interest.

 

[Paradigm]

You make that agreement at 18 or 19 years old with you're whole working life ahead of you under the impression that you'll get a job that will enable you to pay it back. By the time you figure out you fell into a trap, it's too late.

These kids don't have parents to guide them financially?

 

[RogerB08]

These kids don't have parents to guide them financially?

Yeah not every kis is lucky enough to have parents with great financial acumen.

 

[evansusmc2]

These kids don't have parents to guide them financially?

Man, once these people get into college things change. They no longer have their parents taking care of the (maybe financially), and no one is there forcing them to go to class. The drop out rate here in Indiana is around 40% (which is actually an improvement from a few years ago).

 

[Ichibanner]

You make that agreement at 18 or 19 years old with you're whole working life ahead of you under the impression that you'll get a job that will enable you to pay it back. By the time you figure out you fell into a trap, it's too late.

You're not wrong, but making mistakes, being accountable for them, and learning from them is part of life. Restructuring the learning institutions makes more sense to me than telling young people "Don't worry about the debt you incurred from earning your useless BA in Philosophy, uncle Sam will bail you out and make sure you're not accountable for your actions."

The cost of college has risen 30-50% in the last 10 years on average. Faculty pay hasn't risen in kind so that isn't driving the increase. Why has tuition increased this much? Why are we still requiring that students spend 4 years in the learning environment, much of which is full of fluff courses? Why is tuition high in schools that make nearly $100 million per year in sports revenue?

I don't think it's the Government's job to correct or mitigate consequences from our bad decisions. I think we'd be better off overhauling the education system and how the Universities operate.

 

[gluehuffer1776]

still no loan forgiveness? lol. with the thousands of illegals invading, it will be even tougher for these libtards with worthless degrees to get minimum wage jobs.

 

[Long Dark Blues]

Ban interest.

This, 100%.

 

[Poatan Power]

can mandate vaccines but can't do this lol

 

[Fluffernutter]

These kids don't have parents to guide them financially?

Because the parents have been sold the same bill of goods. They too have been brainwashed that if their kid doesn't go to university, then they are bad parents. Especially if those parents went to university and we're able to pay their tuition by working summers.

 

[Hadron90]

That's a pretty bad comparison. You're comparing people getting a loan and agreeing to the terms of repayment to people who use existing law to re-structure and do things favorable to their finances and company health.

A better comparison might be anyone with a car or home loan.

His point is that bankruptcy can't discharge student debt.

 

[RogerB08]

You're not wrong, but making mistakes, being accountable for them, and learning from them is part of life. Restructuring the learning institutions makes more sense to me than telling young people "Don't worry about the debt you incurred from earning your useless BA in Philosophy, uncle Sam will bail you out and make sure you're not accountable for your actions."

The cost of college has risen 30-50% in the last 10 years on average. Faculty pay hasn't risen in kind so that isn't driving the increase. Why has tuition increased this much? Why are we still requiring that students spend 4 years in the learning environment, much of which is full of fluff courses? Why is tuition high in schools that make nearly $100 million per year in sports revenue?

I don't think it's the Government's job to correct or mitigate consequences from our bad decisions. I think we'd be better off overhauling the education system and how the Universities operate.

Accountability is one thing; being trapped in debt that no matter what you do, you can't get out from under is another level of fucked up, and that fact that it's that way be design is next level fucked up. This is a systemic problem that we are the only country that experiences it. It doesn't have to be this way.

 

[Shadiata]

can mandate vaccines but can't do this lol

One puts more money in his pockets than the other...

 

[TeTe]

The sad part is that only 11 percent of student loan borrowers have been paying back anything their loans during the 1.5 years of interest forbearance. It's amazing how much I've been able to take off of my principal in this time. Even when the interest does kick back in, a lot more of my payment will go towards the principal.

 

[panamaican]

That's a pretty bad comparison. You're comparing people getting a loan and agreeing to the terms of repayment to people who use existing law to re-structure and do things favorable to their finances and company health.

A better comparison might be anyone with a car or home loan.

Except it's nothing like a car or a home loan. When you take out a car loan, you get the car - measurable asset. The same with the house, you're getting something tangible.

The problem with the student loan situation is that you're not really taking out the money for the degree. You're taking out the money because the degree is supposed to translate into a job. If the degree doesn't turn into a job then you didn't get what you were really bargaining for.

If you wanted to make a house comparison, it would be like taking out a home loan, paying the contractor, and then the contractor doesn't finish building the house. Most of us would recognize the problem with that situation. Sure, the loan was paying the contractor for a service but when the contractor f's up, we put the onus on the contractor to make the borrower whole. In the student loan situation, when the service provider (the college) fails to deliver the promised product, we're letting them keep the money and telling the borrower "sucks to be you".

We'd never tell a homeowner whose contractor didn't deliver the agreed upon house that the contractor gets to keep the money and the borrower still have to pay off the loan despite never getting the house. We let the homeowner file for bankruptcy or sue the service provider to the extent that they failed to deliver.

If we let students sue universities for the actual difference in marketability of their degrees vs. the cost, we'd see alot of schools either cut the cost of degrees or devote a lot more time to job placement for students.

 

[Prelimtapper]

The solution to all this unpaid debt, has nothing to do with Loan forgiveness and everything to do with the job market and the lack of accepting entry level grads. There are a ton of people who worked hard, where in good majors and worked to pay off some of their student loans whom struggled to get anything post graduation, because companies don't want people without experience. They are either too lazy or don't want to spend the cost to train. Even in the trades in Canada that practice is starting to seep, contractors don't want to take on apprentices. So the government is going to forgive all this debt just to lead to another generation full of debt?

I'm hoping young people thinking of going to college know the goose is cooked. The cost as increased 8x since 1980 and the salary coming out has stayed stagnant. You're better off working full-time after high school doing fast food/factory/general labourer stuff and doing college part-time if you can.

 

[Ichibanner]

DELETED - Post got messed up. See below....

 

[Ichibanner]

Except it's nothing like a car or a home loan. When you take out a car loan, you get the car - measurable asset. The same with the house, you're getting something tangible.

The problem with the student loan situation is that you're not really taking out the money for the degree. You're taking out the money because the degree is supposed to translate into a job. If the degree doesn't turn into a job then you didn't get what you were really bargaining for.

If you wanted to make a house comparison, it would be like taking out a home loan, paying the contractor, and then the contractor doesn't finish building the house. Most of us would recognize the problem with that situation. Sure, the loan was paying the contractor for a service but when the contractor f's up, we put the onus on the contractor to make the borrower whole. In the student loan situation, when the service provider (the college) fails to deliver the promised product, we're letting them keep the money and telling the borrower "sucks to be you".

We'd never tell a homeowner whose contractor didn't deliver the agreed upon house that the contractor gets to keep the money and the borrower still have to pay off the loan despite never getting the house. We let the homeowner file for bankruptcy or sue the service provider to the extent that they failed to deliver.

If we let students sue universities for the actual difference in marketability of their degrees vs. the cost, we'd see alot of schools either cut the cost of degrees or devote a lot more time to job placement for students.

You are financing your education. You get a tangible asset. It's called a diploma.

You are agreeing to get an education, not agreeing that your education will lead to employment. That's the hope, not the actual reality. Hence, why most colleges lack job placement.

Do young adults receiving a BA in Global Jazz Studies from UCLA really expect a job? How blissfully unaware are the people you're talking about?

If the University delivered on their promise to provide you with an education and Liberal Arts degree in the major of Theater with a focus on textual analysis they've provided what the student requested. Why are you holding the University at fault for giving the useless degree that the student spent 4 years obtaining? Sounds more like an issue with parenting, a guidance counselor, or the individual that wasted time getting a useless degree.

You're talking about students suing for getting what they asked for. The University isn't responsible for your shitty job prospects or failure at life once you exit the campus.

 

[Hadron90]

E
You are financing your education. You get a tangible asset. It's called a diploma.

You are agreeing to get an education, not agreeing that your education will lead to employment. That's the hope, not the actual reality. Hence, why most colleges lack job placement.

You don't necessarily get a diploma. At some state schools, only about 60% of students complete their degrees.

Do young adults receiving a BA in Global Jazz Studies from UCLA really expect a job? How blissfully unaware are the people you're talking about?

They do, because recruiters make misleading claims about the value of those degrees to impressionable 18 year olds who have never been in the work force. You will ask the recruiter who visits your high school questions like "I can major in Jazz? Lol, won't I be poor and homeless?", and they will say "No, actually a recent study published in The Journal of Bumfuck shows that the average Jazz student earns $200k a year and marries a super model. Did you know that famous film composer Twittle Dee majored in Jazz? Now he has 3 Oscars and a mansion made out of extinct animal bones. That could be you!"

If the University delivered on their promise to provide you with an education and Liberal Arts degree in the major of Theater with a focus on textual analysis they've provided what the student requested. Why are you holding the University at fault for giving the useless degree that the student spent 4 years obtaining? Sounds more like an issue with parenting, a guidance counselor, or the individual that wasted time getting a useless degree.

You're talking about students suing for getting what they asked for. The University isn't responsible for your shitty job prospects or failure at life once you exit the campus.

A ton of scams provide a product. The point is they make misleading claims about the product and take advantage of people who don't know any better.