Rational for canceling student debt?

[DesWad]

What is the reasoning for canceling student debt?
https://finance.yahoo.com/news/warre...144757566.html

Is it fair to cancel student loans and not to offer debt reduction to others who initiated similar financial risk?

If I choose to forgo 4 years of college and work for the $50,000 vs. going to school for -$50,000 to obtain the same technical experience; how should I be equally rewarded under a student debt forgiveness plan?

We all know how the left idolizes fairness.
PFFT

[Strokey_McDingDong]

I think this would be proposed if a totally tax funded higher education system was ever implemented. It makes no sense to cancel student loan debt and allow the same retarded system to continue raising tuition costs, forking out tens of thousands of dollars in loans per student, and providing low quality education in return.

If the education system was dramatically changed so that students did not have to pay for tuition, then it would make sense to also cancel student loan debt.

They should just cancel all debt. Fuck them.

[1blackman1]

There would be a huge economic stimulus if student loan debt was canceled. Home buying would spike among other things. That’s really the best rationale there is. People Paying student loan debt has no benefit to the economy. People spending money that employs folks does.

[winn dixie]

Forgiveness of student loans is a horrible idea!

However the cost of tuition is ridiculous.

[matchingmole]

Originally Posted by DTickler

What is the reasoning for canceling student debt?
https://finance.yahoo.com/news/warre...144757566.html

Is it fair to cancel student loans and not to offer debt reduction to others who initiated similar financial risk?

If I choose to forgo 4 years of college and work for the $50,000 vs. going to school for -$50,000 to obtain the same technical experience; how should I be equally rewarded under a student debt forgiveness plan?

We all know how the left idolizes fairness.
PFFT

The Trumptard right is irrational

[royamcr]

Cancellation of some debt in high in demand career paths makes sense. I don't believe all of it should be cancelled. 50% to 75% based on field of study would be good. Should have to graduate first and get a job in your field.

[Lucas McCain]

I believe it is fair to adjust student loans if you are a benefit to society such as a teacher or in healthcare for example, but for a guy like me who just wants money, charge me the full amount. It's not like I'm helping anyone except to make the rich get richer. I'm hardly a benefit to society if I look at the big picture as far as my career choices. Greedy people like me should have to pay 100% of their student loans back. That's just my opinion.

I hate my job. I do it for the money. I hated school. I did it for the money. I hated living in the North East for so many years. I did it for the money. Yeah, I'll pay the lenders back everything and thanks for the loans because they were well worth it because I had no money.

[Ripmany]

Gary bustle people wasted their dumb ass time and calls for free money everybody's helping better than Trump did

[ggew44]

I dont believe in cancelling debt. You willingly signed the paper and made a terrible decision. The problem is everybody else made that same bad decision with you and now a whole generation is stuck under the thumb of debt load. I don't think student loan debt should just be cancelled, but something needs to be done to help right the ship. This does effect the economy and later on it will effect this generations ability to retire and make way for another generations ability to move up in a company's ranks. I think an adequate solution would be to subsidize the interest for five years. During this time people with student loan debt should throw everything extra they have at the student loan while making their regular payments. This would drastically drop the principle amount they owe or in some cases wipe out the debt. The people that take advantage and sacrifice to pay it off will be rewarded while the ones who make no effort will be in the same place they were before. I know it is still not fair, but when presented with a problem you have to move forward with the best solution you can find. You will never make everyone happy. Young students need to be taught financial responsibility before leaving high school. Start teaching it in middle school and pound it into their heads every year. Might as well, they are pounding everything else!

[Strokey_McDingDong]

In some way, tax payers are already paying a good portion of student debt. There are, most likely, a lot of people who will never pay off their student debt, and with things like income adjusted repayment plans and forgiveness programs (you don’t have to work as a teacher or nurse or for the government to recieve a forgiveness program), they don’t have to. Only the people who take out private student loans rather than federal loans get royally fucked. I for one am not required to pay back my loans in full. I am required to pay what I c can based on my income for a long ass time but not for life.

Say some asshole owes 150k in student loans, which is becoming more and more common, and they get a job making 30 dollars an hour. Unless they can find a higher paying job, that shit isn’t going to get paid off. They will pay something per month for 10 to 15 years and than it will be forgiven. This only works for federal loans, not for private loans. If you have 150k of private loans, than you’re fucked.

[nevergaveitathought]

it is another bad leftist idea but it gets votes

and it rewards another leftist program, easy money loans

which rewards leftist colleges with profligate administrators giving out salaries and benefits.

these sort of institutions have well planned out stair steps of employee rewards which then are used to justify the higher ups salaries and benefits, sort of like the round robin of buzzfeed being the source for another leftist rag and that leftist rag being the source for buzzfeed and cnn reporting it using buzzfeed as the source and comey citing buzzfeed as the source all in the Russian collusion hoax

as in most leftist lies, the lie has momentum and takes on a life of its own as the players just continue acting their parts long after the truth is known. and so it goes with college administrations

its like the leftist lies concerning the election fraud or hunter biden's criminality was Russian disinformation, the truth is known but the lies don't stop

and it also rewards a sluggish 5 or 6 year meandering through courses, many of which are harebrained, by students who don't wish to be taxed in their studies

additionally a large proportion of student debt is held by graduate students while only about 14% of adults hold graduate degrees

take a plumber, who doesn't go to college but goes into debt for trucks and equipment and advertising, why not pay off his debt? its the same thing

or families, or kids who don't take on debt but pay their own way by working? are they due refunds?

[VitaMan]

Bill Gates says "Life in unfair....get used to it."


The strangest economic idea set forth is "the poor are poor because the rich are rich". Therefore, they owe us.


Schools continue to beg alumni for money, so they can turn their campuses into country clubs, market that, and charge the students even more tuition. Scholarships are just a way for schools to collect more money. They keep the money.....another student is added....which costs the school nothing to have an additional student in a classroom.


Hopefully the online classes and education will eventually replace the universities and college campuses.

[nevergaveitathought]

the answer is not found in creating a cycle of government loans, huge college fees and bills supporting ever greater salaries and benefits, followed by ever greater debt forgiveness by that same government

the cycle needs to be broken, not made worse

[dilbert firestorm]

Originally Posted by VitaMan

Bill Gates says "Life in unfair....get used to it."

The strangest economic idea set forth is "the poor are poor because the rich are rich". Therefore, they owe us.

Schools continue to beg alumni for money, so they can turn their campuses into country clubs, market that, and charge the students even more tuition. Scholarships are just a way for schools to collect more money. They keep the money.....another student is added....which costs the school nothing to have an additional student in a classroom.

Hopefully the online classes and education will eventually replace the universities and college campuses.

many of these universities are public schools and get their funding from the state.


apparently the states have abdicated to the universities on setting tuition rates for non-natives. states have to be the ones to fix it, since the public universities won't do it.

[WTF]

Originally Posted by nevergaveitathought

the answer is not found in creating a cycle of government loans, huge college fees and bills supporting ever greater salaries and benefits, followed by ever greater debt forgiveness by that same government

the cycle needs to be broken, not made worse

Students loans should be forgiven in bankruptcy. No different than Trump in business dealings.


Before 1976, all student loans could be discharged in bankruptcy. Then, an exception to bankruptcy discharge of student loans was added to the U.S. Bankruptcy Code at 11 USC 523(a)(8).