Economy Studen Loan Forgiveness by EO, Biden say nope.

[Fugazy]

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

Dude, no wtf kind of question is this?

You can’t seriously wonder this.

Even kids with a good home often have no idea what it takes to survive financially in the US.

Im no liberal at all.
Liberals disgust me for the most part.

But for fucks sake, open your eyes. Clearly there is an overwhelming absence of financial literacy and education in this nation among all groups of people.

 

[Hadron90]

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.

Well, a lot of them got duped by Lying Joe. Joe promised $̶5̶0̶k̶ ̶s̶t̶u̶d̶e̶n̶t̶ ̶l̶o̶a̶n̶ ̶r̶e̶l̶i̶e̶f̶ $̶1̶0̶k̶ ̶s̶t̶u̶d̶e̶n̶t̶ ̶l̶o̶a̶n̶ ̶r̶e̶l̶i̶e̶f̶ --that he'd look into student loan relief. It would be dumb to make payments on it for 1.5 years if Joe is just going to wipe it out at the stroke of a pen. The cynic in me would almost wonder if the promise of student loan relief while interest was frozen, only to rugpull any prospect of it as soon as he announces interest would be unfrozen, wasn't to manipulate people into not paying while there was no interest.

 

[Fugazy]

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.

18 year olds are generally idiots and the state gives the universities so much money they can do whatever the fuck they want.

It’s wrong and literally “bad” but this is what it is. We need to change it, but it is such a predatory system wrapped in the benevolence of education that it cannot be overlooked or forgiven.

 

[Hadron90]

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

No, many don't. And that's who colleges are praying on. They love low-income students. Billy Bob gets access to basically unlimited subsidized student loans because his FAFSA says his mom is a crack whore and his dad is a deadbeat, and Billy Bob is dumb as shit and has a 2.6 high school GPA. They love promising him that he will become a sports broadcaster for ESPN making $700k a year.

 

[panamaican]

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.

First, an education is not a "tangible asset". The physical diploma might be a tangible asset but no one is borrowing tens of thousands of dollars to get a physical piece of paper. And "an education" is not what most people are bargaining for either. They are bargaining for "an education that results in a job", not an education for the sake of education.

In the law, there's a concept about "mistake" and another concept called "a meeting of the minds". These aren't particularly complicated terms but they underpin contracts and their validity. For the vast majority of the student population, they are bargaining for a degree that will lead to a job in the field of study. It doesn't matter if it's Jazz studies or Chemistry. They're looking for a job in that specific field, which the education is supposed to make possible. There are very few students studying chemistry or Jazz with no job expectations associated therewith. Someone would have to disregard the entire intersection of education and the job market to claim otherwise.

To ignore that a major part of the student's reason for entering the contract is to land a job is to ignore the essential element of one of the parties to that contract. Disdain for liberal arts degrees doesn't change that fact. And in enforceable contracts, if one party is aware that the other party has a belief that is not in accord with the facts but still enters into a contract at the expense of the mistaken party, that contract is usually deemed not valid.

And logically that makes sense. If I go to buy a car that I think can drive up a steep hill and the salesman, knowing that this is what I want the car for, sells me a car that he knows cannot go up a steep hill, we never contracted for the same thing. I contracted for one type of car, he sold me something else entirely. It doesn't matter that it's a car and it drives. It doesn't meet the purpose for which I entered the contract. I was mistaken as to the car's ability and the salesman knowingly took advantage of my mistake when I relied on him. In 99% of contracts, the mistaken party gets to walk away from the contract and the other party doesn't get to keep their money.

Yet because some people have a low opinion of liberal arts degrees they want to throw out the basic fairness of contracts for no discernible reason other than what I assume is spite.

 

[Paradigm]

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

Should have come from a better lineage then...

Dude, no wtf kind of question is this?

You can’t seriously wonder this.

Even kids with a good home often have no idea what it takes to survive financially in the US.

Im no liberal at all.
Liberals disgust me for the most part.

But for fucks sake, open your eyes. Clearly there is an overwhelming absence of financial literacy and education in this nation among all groups of people.

Relax...just a little sarcasm. For what it's worth, I graduated with a worthless bachelor's from a UC school myself. Took a bit but I eventually got to the six figure mark...which could have been done without a 4 year degree.

 

[Ichibanner]

First, an education is not a "tangible asset". The physical diploma might be a tangible asset but no one is borrowing tens of thousands of dollars to get a physical piece of paper. And "an education" is not what most people are bargaining for either. They are bargaining for "an education that results in a job", not an education for the sake of education.

In the law, there's a concept about "mistake" and another concept called "a meeting of the minds". These aren't particularly complicated terms but they underpin contracts and their validity. For the vast majority of the student population, they are bargaining for a degree that will lead to a job in the field of study. It doesn't matter if it's Jazz studies or Chemistry. They're looking for a job in that specific field, which the education is supposed to make possible. There are very few students studying chemistry or Jazz with no job expectations associated therewith. Someone would have to disregard the entire intersection of education and the job market to claim otherwise.

To ignore that a major part of the student's reason for entering the contract is to land a job is to ignore the essential element of one of the parties to that contract. Disdain for liberal arts degrees doesn't change that fact. And in enforceable contracts, if one party is aware that the other party has a belief that is not in accord with the facts but still enters into a contract at the expense of the mistaken party, that contract is usually deemed not valid.

And logically that makes sense. If I go to buy a car that I think can drive up a steep hill and the salesman, knowing that this is what I want the car for, sells me a car that he knows cannot go up a steep hill, we never contracted for the same thing. I contracted for one type of car, he sold me something else entirely. It doesn't matter that it's a car and it drives. It doesn't meet the purpose for which I entered the contract. I was mistaken as to the car's ability and the salesman knowingly took advantage of my mistake when I relied on him. In 99% of contracts, the mistaken party gets to walk away from the contract and the other party doesn't get to keep their money.

Yet because some people have a low opinion of liberal arts degrees they want to throw out the basic fairness of contracts for no discernible reason other than what I assume is spite.

Your telling me that you receive a tangible asset upon graduation. You agree with that. I've never said that education is tangible so I don't know why you feel compelled to state that which I'm already aware of and in agreement to. There is a reason why people actually care about having their diploma conferred to them. They want to be able to show that they are a graduate. It matters. It's the culmination of their educational journey. People actively pursue a replacement diploma if they lose theirs. The diploma has value greater than the paper itself.

Students aren't bargaining for a degree that will lead to a job. If they are then they're doing it wrong because nowhere in the paperwork that I signed when attending college was employment possibility mentioned, much less guaranteed. Employment was mentioned in the actual classes that pertained to my major. Once again, no guarantee was made pertaining to it and I, as a logical human being, understood this.

Some or many people may have a low opinion of Liberal Arts degrees because of the very situation we're talking about. Many of the degrees don't lead to employment and are useless. I've never seen a single ad stating "Philosopher Wanted". I can understand the want to study a subject but some day you have to put on the big boy pants and face reality.

You want to talk about contracts. Okay. An 18 year old signs a contract to get their BA in Philosophy. Nothing in the contract states that actual jobs exist in that field or that they will find employment utilizing the degree and education. You still want the University to be held accountable for giving the young adult what they signed up for. An education and the "tangible" piece of paper proving the completion of said education. I find this absurd.

Only in today's world can ignorant people put themselves into a predicament after getting everything they're entitled to and blame the institution that met the contract that was agreed upon.

 

[KBE6EKCTAH_CCP]

https://www.yahoo.com/finance/news/biden-student-debt-loan-forgiveness-cancel-173246655.html

"I’m going to get in trouble for saying this," Biden told a meeting of news columnists on Wednesday, raising the Democratic argument that "the president may have the executive power to forgive up to $50,000 in student debt. Well, I think that’s pretty questionable. I’m unsure of that. I’d be unlikely to do that.”

With the proliferation of cross-post-colonial-gender-studies degrees in the English-speaking world, I am inclined to also say fuck you pay your loan.