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So someone who took out $60,000 a year in student loans to pay for tuition and fees totaling $20,000 a year should have their debt forgiven?
They borrowed that money, so they're responsible.
Just 15 years ago, I finished two additional Bachelor Degrees, a Master's and PhD, and I did it all on Ohio State educational grants, federal Pell Grantsand by working full-time or holding two to three part-time jobs, and cutting all possible expenses.
I shared an apartment with 4 others about a mile from campus. We had internet, but no cable/satellite. I walked, biked or rode the bus to and from classes or to and from work, to avoid the expense of auto insurance, car payments, repairs and gasoline. I was paid a $10,000 stipend as a TA, but still had work one or two part-time jobs. I eventually moved to another apartment, which I shared with another student, and then saved up enough money to pay for my own apartment when getting my doctorate.
One of the students I roomed with did use student loans, but she only borrowed $3,000 to $4,000 a year for her last three years, so her debt was hardly stifling. Of course, she also had a car.
People who bury themselves in student debt don't have to do that. They do it because they want to do it and they shouldn't be permitted to foist it off on the public.
These people that borrowed $40,000 to pay $10,000 in tuition and fees and party on the other $30,000 a year need to pay it back.
Ok then...
And yes, people who are truly bankrupt should not have to carry unserviceable debts for life. Just like society doesn’t force someone who took out loans for a business that fails or someone who over consumed on personal debts to do it either.
Ah, one of those conservative elitists who want to do away with college opportunities for all in the name of making sure their own kids get ahead.
OMG, the conclusions people jump to.
I don't even have kids.
I got a liberal arts degree myself.
I don't think it was all that useful.
But I love how some liberals, who love to hold themselves up as so open minded, just love to go into attack mode and stereotype people they don't even know.
Funding for major federal higher education programs grew significantly from the onset of the recession, even as state support fell. The federal spending areas that experienced the most significant growth were the Pell Grant program and veterans’ educational benefits, which surged by $13.2 billion (72 percent) and $8.4 billion (225 percent), respectively, in real terms from 2008 to 2013. The biggest decline at the state level was in general-purpose appropriations for institutions, which fell by $14.1 billion (21 percent) over the same period. During those years, the number of full-time equivalent (FTE) students grew by 1.2 million (8 percent).
My mother was the one who used to do the loan applications with me (lovely chore, that!), and the money ALWAYS was allocated as going to the college, NEVER to me.
I didn't even think it was possible to receive student loan money until I started watching the court shows, and that was a shock - "where did you get the money you loaned to your boyfriend?" "My student loans."
WHA?????????? If that money is to pay for schooling, it should go TO THE SCHOOL, not the student. I never saw a penny of the money that paid for my degree.
Women have used their student loan proceeds to get boob jobs and other cosmetic surgery.
The school administrators who hire an "Elizabeth Warren" to teach ONE CLASS for millions of dollars a year. What can she offer that some other teacher can't?
.... to pay the salaries of overpaid professors who should be getting the same pay as a high school teacher.
The vast majority of high school teachers have only a Bachelor's Degree, not a PhD.
High school teachers do not conduct research, nor do they publish papers and books, which can boost a university's standing.
High school teachers also do not supervise TAs and RAs.
High school teachers do not attract students. Many students applied to the engineering program at the University of Cincinnati, simply because former astronaut Neil Armstrong was teaching engineering courses.
I had the pleasure of taking classes taught by Madeleine Briskin, Emeritus Professor of Geology and Physics. She conducted research at the Mid-Atlantic Ridge, and by studying the orientation of iron atoms in rocks, discovered that Earth's magnetic field changes about 750,000 years, meaning there's a magnetic pole reversal, where the north magnetic pole becomes the south magnetic pole.
That was a "first."
And, yes, we are overdue for a magnetic pole reversal in geologic terms, which will happen sooner in geologic time, rather than later.
How many of your high school teachers discovered a "first"?
In fact, how many high school teachers have actually worked in the fields in which they teach?
If you don't understand the differences between college professors and high school teachers, you might want to learn.
.... to pay the salaries of overpaid professors who should be getting the same pay as a high school teacher.
They borrowed money to pay for their educations. If you have an issue with salaries, you need to take it up with your state legislature and board of regents (assuming a public university).
No kid is in debt “because dumb old people caused the price of education to skyrocket.” Kids are in debt because they borrowed money.
To be fair, a lot of kids for a long time were sold a bill of goods and because they were 18, they believed it. Wanna borrow $110K for a Social Workers degree? Go For It! Listening to radio, TV, media, it seems like only in the last few years has the advice severely tempered and changed to "Don't borrow more than you want to be on the hook for, and think about the long term prospects of your field of study, and if you want said social workers degree, maybe Regional State is a better option that St. Moneybags.
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