Rational for canceling student debt?

[Grace Preston]

I don't feel that student debt should be automatically cancelled. However...


1. I do believe that we need to honor the public service agreements that were made with a number of teachers, health professionals, social workers. Many folks did their obligated time in the public sector for loan forgiveness that they were ultimately refused.


2. I do believe that just like any other form of debt, they should be dis-chargeable in BK. Perhaps that would alter the system that now allows 18 year olds with no credit sense to obtain 50k in loans without a job.



3. I feel that the interest rates on student loans should be equal to the interest rates on savings accounts. Wanna drop the fed rate to practically 0? Fine. Then the interest rate on student loans should be practically 0.

[the_real_Barleycorn]

Some of these universities have some huge endowments. Since the universities profited most from conning people into going to college, take half of the entire endowment to pay off the debts of their students. Take it as far as it will go. Maybe they'll have to drop their tuition rates, like inflation, in order to make the money go farther.

[Yssup Rider]

Originally Posted by the_real_Barleycorn

Some of these universities have some huge endowments. Since the universities profited most from conning people into going to college, take half of the entire endowment to pay off the debts of their students. Take it as far as it will go. Maybe they'll have to drop their tuition rates, like inflation, in order to make the money go farther.

Conning people into going to college?

Of course! Why not?

Great post, citizen.

[nevergaveitathought]

Originally Posted by the_real_Barleycorn

Some of these universities have some huge endowments. Since the universities profited most from conning people into going to college, take half of the entire endowment to pay off the debts of their students. Take it as far as it will go. Maybe they'll have to drop their tuition rates, like inflation, in order to make the money go farther.

on a like note, I say the administrators should be made, along with the colleges themselves and any separated legal entity, such as a foundation holding all the money, to guarantee the student debt or at least a substantial portion of it, say 60%

and when the worth of an education cant pay back the cost of same, they have to pay up

[dilbert firestorm]

one issue with the public universities is the way the receive the largess from the states. some states are essentially defunding education without addressing the tuition issue. by cutting funds in exchange, some state have given public universities the ability to raise tuition rates without asking the state legislature permission to do so.

[rexdutchman]

What about the students that PAID OFF THE LOANS , money back paid ?