Forgiving Student Loans

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This topic contains 6 replies, has 5 voices, and was last updated by  Unseen 5 days, 23 hours ago.

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  • #29193

    _Robert_
    Participant

    I am not sure if most of these loans will ever be paid off. The government got into this business. Instead of regulating tuition, they are up to their elbows in defaults. I find it disturbing that the ultra left wing professorship didn’t have the wherewithal to protest these ridiculous tuition rates and textbook costs against their own administrations.

    Even a bankruptcy does not erase a student loan. I worked my way through school and even though it is not fair for people who managed without borrowing thousands…I think it is a wise thing to do to give these young folks some help.

    #29194

    jakelafort
    Participant

    Not exactly correct Robert in re discharging student loans.

    A debtor is permitted to file a motion to determine dischargeability of their student loan. The standard is not easy to meet…it must impose an undue hardship to require repayment. So if the debtor is utterly lacking in means to do so a judge will eliminate that loan. (debts which are otherwise dischargeable will be discharged unless the creditor files a complaint and prevails)

    #29195

    A well educated workforce should be seen as one of the key economic Factors of Production and added as a separate item to Land, Labor, Capital and Entrepreneurship. The returns to the (any) government will, in the long run, outweigh the costs. Many Universities and Colleges have become centers of mediocrity who churn out students with little practical experience. Students are there just to get the paper rather than to get an education. Teaching staff are  as much concerned with the production of technical papers which they are almost compelled to do in order to raise the profile of their institution as they are with the welfare of their students. In some places it is as if the staff are measured by what they get into peer-reviewed journals as by the results their students get.

    I cannot see the justification for the fees the students incur. There should be grants available. Maybe if you make it to second year you get a 25% reduction in fees, then 50% and in the final year 75%. This would be based on merit and leave graduates with a much smaller debt.

    #29196

    jakelafort
    Participant

    Tuition and expenses are so exorbitant that the good old days of doing enough work to graduate and smoking dope are mostly bygone. If a student does not have a career path it is so easy to blow a quarter mill. and end up with no real prospects…and then get a job sweeping floors. When i went to law school, L A Law helped to popularize the legal profession. Lots of grads could not get jobs. It is kinda the same thing now if a student has not studied for a career that is in demand like engineering they can easily be SOL in their parent’s basement smoking dope and feeling hopeless.

    #29197

    _Robert_
    Participant

    if a student has not studied for a career that is in demand like engineering they can easily be SOL in their parent’s basement smoking dope and feeling hopeless.

    And the hopelessness can easily led to depression and subversions like gun culture, nationalism, MGTOW, video game/porn addictions and poor physical condition. The disillusion must be magnified if the student was coddled for years.

    The whole life of massive consumption requiring two careers, daycare, two $40K SUVs in the driveway of a $500K house, and a $35K wedding was bullshit anyway…but just giving up seems pointless as well. A nation of extremes.

    #29266

    Jody Lee
    Participant

    Ugh, student loans. They’re holding me back from my homesteading dream. If I remain in healthcare, same employer for the next 10 years (9, now) and make consecutive monthly payments…mine are forgiven.

    #29267

    Unseen
    Participant

    Lately on TV are many ads for one or two companies offering ways to refinance student loan on better terms.

    HOWEVER, now that there’s talk of a blanket forgiving of sudent loans, I suspect that anyone who shifts their debt from the government program to one financed by a private loan company might be left out in the cold. Think twice before refinancing.

    • This reply was modified 5 days, 23 hours ago by  Unseen.
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