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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.
exactly. these punk kids need to know how the American system works. Survival of the fittest: powerful people can enter into debt contracts with the taxpayer whose terms are easily modified.
Punk kids like themselves are scum, though, so their debt should be nondischargable and should follow them around for the rest of their lives.
exactly. these punk kids need to know how the American system works. Survival of the fittest: powerful people can enter into debt contracts with the taxpayer whose terms are easily modified.
Punk kids like themselves are scum, though, so their debt should be nondischargable and should follow them around for the rest of their lives.
True. And where is all this evolution and Darwinism when you need it? We make sure it's taught in schools, that survival is a struggle, not everyone is meant to survive but then we turn around and don't practice it.
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.
Interesting idea, but how would you determine who the top 1% legal citizen students are? Also, most of the top 1% in their high school class have full rides to universities anyway...
So they aren't the ones out there screaming that you have to pay for their pricey private school tuition...
How about the government go and collect the billions of dollars in student loans that hasn't been repaid by those who graduated, defaulted and have been working long enough to have repaid it?
exactly. these punk kids need to know how the American system works. Survival of the fittest: powerful people can enter into debt contracts with the taxpayer whose terms are easily modified.
Punk kids like themselves are scum, though, so their debt should be nondischargable and should follow them around for the rest of their lives.
Your saracasm is noted.
Why do you believe it to be beneficial for a taxpayer-funded loan be dischargeable in bankruptcy? Why do you think that some "punk" wouldn't intentionally run up a student loan tab to get the education he/she wants with the sole intent of discharging it after graduation? Are you really that unconcerned with the steweardship of your tax dollars?
I'm a bit flabbergasted that you (or anyone) don't see the problem with your own thinking.
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.
Mayberry, if college tuition was still the cost it was in 1974, adjusted for inflation of course, many in this generation would be doing the same thing you did. Unfortunately, the astronomical hike in tuition makes it impossible to go to school without mortgaging one's future.
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.
With all do respect, BULL****! The money the government lent to these children belongs to the taxpayer. As a taxpayer, why should I give these spoiled children a gift of tens of thousands of dollars?
I agree with getting the government out of the student loan business. If money is more difficult to borrow, colleges and universities will have to get costs under control to attract students. They have just gotten stupid right now, with costs expanding far faster than inflation.
If loans are privatized, the private lender can look at the person's choice of major and make an educated decision on their likelyhood of paying it back. It might be a way of keeping art history majors from running up $60k in debt, before they start their career at McDonalds. That will also help focus student career choices into areas where there is actual demand.
Student loans shouldn't be forgiven. However, financing education should be way cheaper than it is today... maybe 2% interest at best, maybe completely government issued, and offered at flat or free of interest.
I don't know what affect that would have on the cost of tuition, inflation, etc., but really, is this not a meritocracy? The upper middle class and rich can send precious prince and princess off to school at whatever price, and the middle and lower class has to saddle itself with student loan debt, self-finance by taking a couple classes a year (and thus, significantly delaying achievment and actually starting a career), or forego education altogether.
Then, at a cost of hundreds per month, students pay off their loans over 20-30 years. That money COULD be used as consumer spending, OR going towards retirement, etc. But no, it's paying interest to some banker.
Cheaper financing may be a pipe dream in America, where the common citizenry spends its time worshipping in the laps of bankers and big business... but the LEAST they could do is make student loan payments a dollar for dollar deduction on taxes. Is it not a "personal business expense"? Why should a corporation be able to write off yacht payments but students can't write off student loan payments?
Student loans shouldn't be forgiven. However, financing education should be way cheaper than it is today... maybe 2% interest at best, maybe completely government issued, and offered at flat or free of interest.
I don't know what affect that would have on the cost of tuition, inflation, etc., but really, is this not a meritocracy? The upper middle class and rich can send precious prince and princess off to school at whatever price, and the middle and lower class has to saddle itself with student loan debt, self-finance by taking a couple classes a year (and thus, significantly delaying achievment and actually starting a career), or forego education altogether.
Then, at a cost of hundreds per month, students pay off their loans over 20-30 years. That money COULD be used as consumer spending, OR going towards retirement, etc. But no, it's paying interest to some banker.
Cheaper financing may be a pipe dream in America, where the common citizenry spends its time worshipping in the laps of bankers and big business... but the LEAST they could do is make student loan payments a dollar for dollar deduction on taxes. Is it not a "personal business expense"? Why should a corporation be able to write off yacht payments but students can't write off student loan payments?
get the government (and its taxpayer money) out of education
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