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No, taxpayers shouldn't pay off your student loans.
But how about if taxpayers could write off investment losses the same way as investors who lose money in the stock market when their college educations don't pay off financially?
No, taxpayers shouldn't pay off your student loans.
But how about if taxpayers could write off investment losses the same way as investors who lose money in the stock market when their college educations don't pay off financially?
How about if the federal government never gave 100 percent payback guarantees for defaulted student loans to banks and Sallie Mae...
to include not just amount borrowed, but accumulated interest as well.
Want a fair playing field for students - get rid of Guaranteed Student Loans
backed by the federal government for the enrichment of banks and let
students file bankruptcy in court just like ANY OTHER CONSUMER DEBT.
Quit making student loan debt akin to being a mortgage holder of an education without a job or a house, for the rest of their adult working life.
^what they said. You have no idea how the student loan industry or how banks derivatize student loan debt and reap tons of profit off of handing out bad loans through student loan asset backed securities. Do your homework on SLABS and then make an objective assessment of the situation. Students and there families are definitely NOT on a level playing field with banks and universities.
the government would be better off to right now FORGIVE all student loans currently on the books, and then get OUT of the business of making them.
This could cure some of what ails the OWS crowd....not having to pay back their student loans. AND it would give the government a way out of spending money that we don't have.
Let the States handle student loans with in-state tuition assistance and scholarships. If the fed wants to get involved in college education, let them provide a free ticket....full ride scholarships to the top 1% of LEGAL CITIZEN students. That would insure that the brightest are educated to the fullest without worries of having to pay for a thing...and that would help propel us towards the top in the tech, medical, and science fields again.
How about if the federal government never gave 100 percent payback guarantees for defaulted student loans to banks and Sallie Mae...
to include not just amount borrowed, but accumulated interest as well.
Want a fair playing field for students - get rid of Guaranteed Student Loans
backed by the federal government for the enrichment of banks and let
students file bankruptcy in court just like ANY OTHER CONSUMER DEBT.
Quit making student loan debt akin to being a mortgage holder of an education without a job or a house, for the rest of their adult working life.
Learn the facts.
Not singling you out....you're just the next person to use this argument....but you're wrong. There is no such thing as a "Guaranteed Student Loan" sold by banks or lenders anymore. The federal government has exclusive control of federal student loans. Take a look at Sallie Mae's website....only Private Loans are offered anymore.
As you said.....learn the facts.
Also, bankruptcy for student loans is a TERRIBLE idea! Kids would have ZERO reason not to rack up 100K in student loans and then file for bankruptcy. It makes no logical sense whatsoever to allow this to happen.
^what they said. You have no idea how the student loan industry or how banks derivatize student loan debt and reap tons of profit off of handing out bad loans through student loan asset backed securities. Do your homework on SLABS and then make an objective assessment of the situation. Students and there families are definitely NOT on a level playing field with banks and universities.
The federal government has exclusive control of presently offered federal student loans. What banks do with pre-existing loans is their business and not for you or anyone else to say what they should and shouldn't do. But it should be also known that they are no longer in the business of offering federal student loans.
the government would be better off to right now FORGIVE all student loans currently on the books, and then get OUT of the business of making them.
This could cure some of what ails the OWS crowd....not having to pay back their student loans. AND it would give the government a way out of spending money that we don't have.
Let the States handle student loans with in-state tuition assistance and scholarships. If the fed wants to get involved in college education, let them provide a free ticket....full ride scholarships to the top 1% of LEGAL CITIZEN students. That would insure that the brightest are educated to the fullest without worries of having to pay for a thing...and that would help propel us towards the top in the tech, medical, and science fields again.
Horrible idea. A free ride is not the American Way (at least not yet). It is incumbent on the person who signed on the dotted line to pay their obligations that they willingly and knowingly assumed. This IS the American Way, and it should not change.
Personally, I don't believe that debt should ever be relieved. It is that mentality that has allowed us to get into the mess we are in, now. I don't believe that we should have debtor's prisons, but I do believe that debt should be eventually paid off by the person that enjoyed the benefits of the funds borrowed. If that means they only pay $5/week for the rest of their lives, so be it.
As a people, we need to start understanding that our choices have consequences. No one held a gun to any student's head and said "Borrow, or else."
I came from extremely poor circumstances when I graduated from high school in Michigan in '74, when people were sleeping in their cars because of the debacle in Detroit. It was difficult, but I worked my way through college. Some quarters I couldn't go, others I only took one class, but I got my education and the rewards it provided without one cent of student loans.
Personally, I don't believe that debt should ever be relieved. It is that mentality that has allowed us to get into the mess we are in, now. I don't believe that we should have debtor's prisons, but I do believe that debt should be eventually paid off by the person that enjoyed the benefits of the funds borrowed. If that means they only pay $5/week for the rest of their lives, so be it.
As a people, we need to start understanding that our choices have consequences. No one held a gun to any student's head and said "Borrow, or else."
I came from extremely poor circumstances when I graduated from high school in Michigan in '74, when people were sleeping in their cars because of the debacle in Detroit. It was difficult, but I worked my way through college. Some quarters I couldn't go, others I only took one class, but I got my education and the rewards it provided without one cent of student loans.
I understand what your saying but in reality its not alot of jobs out there and contrary to popular belief if a student owes $100k in school loans he's not gonna graduate and finish school then flip burgers till his opportunity opens up with a career. Truth is, outsourcing is destroying our economy and many tech jobs are being sent overseas and replaced with lower paying jobs here.
Something has to give, you have to socialize something education or healthcare but no one is gonna pay what they don't have and the word default doesn't scare people that much anymore.
I agree with you if America had adequate opportunity but it doesn't, those kids aren't protesting for the hell of it.
the government would be better off to right now FORGIVE all student loans currently on the books, and then get OUT of the business of making them.
This could cure some of what ails the OWS crowd....not having to pay back their student loans. AND it would give the government a way out of spending money that we don't have.
Let the States handle student loans with in-state tuition assistance and scholarships. If the fed wants to get involved in college education, let them provide a free ticket....full ride scholarships to the top 1% of LEGAL CITIZEN students. That would insure that the brightest are educated to the fullest without worries of having to pay for a thing...and that would help propel us towards the top in the tech, medical, and science fields again.
I don't agree that they should be written off. It was their choice to go to a college they couldn't afford, their choice not to work to pay their own way through college or to party their spring breaks instead of working hard like so many do. Why should they be given all this free money?
If they won't pay back their loans they took to get their degrees, then yank their degrees too.
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What they should do,......`
