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06-21-2020, 08:13 AM
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Location: Lake Norman, NC
8,626 posts, read 12,858,469 times
Reputation: 35211
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Sorry, but if you took the loan, then you OWE the loan.
If student debt is forgiven, then these same people will welch on their mortgage payments.
It's a never ending, lack of personal responsibility, cycle that's become prevalent and rampant in this country.
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06-21-2020, 08:40 AM
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19,948 posts, read 5,678,070 times
Reputation: 36397
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Why expect accountability? Borrow all you can borrow. It is just a piece of paper. It is just too cumbersome to get grants or pay your own way. Defer until it dies of old age. Declare bankruptcy - they will not take your house, your car, your whatever away from the poor young uninformed student who did not realize that when you borrow money it has to be paid back. No, that is what those silly taxpayers are responsible for. Let's add a degree or two as long as the gravy train runs.
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06-21-2020, 08:41 AM
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5,653 posts, read 3,653,152 times
Reputation: 12468
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06-21-2020, 10:15 AM
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13,395 posts, read 11,926,738 times
Reputation: 35675
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Quote:
Originally Posted by City Guy997S
While those two were Political Science degree rockstars, most are not.
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True, but that has nothing to do with a specific college major. Anyone with the personal drive to succeed will do well. |
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06-21-2020, 05:56 PM
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14,441 posts, read 17,526,997 times
Reputation: 23048
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Quote:
Originally Posted by Serious Conversation
It absolutely could.
I'm an older Millennial. I graduated with about $10k in student loan debt, which was paid off relatively quickly. I know people with tens of thousands of debt still in their 30s.
Without that debt burden, those people would have freedom to do a lot of things.
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A very good friend is a Dr/married to a lawyer. Their student loans are $3500 a month for 30 years.
3500 X 12 = 42K
42K X 30 = 1.26mm.
Where did they go wrong? Deferred debt, incomes never skyrocketed. They make good money, but not huge money.
It is affecting their purchasing power for homes/cars/retirement savings contributions. Their choice to borrow, so let them pay it back. |
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06-21-2020, 05:57 PM
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14,441 posts, read 17,526,997 times
Reputation: 23048
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Quote:
Originally Posted by charlygal
True, but that has nothing to do with a specific college major. Anyone with the personal drive to succeed will do well.
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Correct but would a truly successful kid today pick a poly sci major?  |
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06-21-2020, 06:07 PM
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962 posts, read 495,992 times
Reputation: 3491
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Quote:
Originally Posted by Minethatbird
Why is it the responsibility of the US taxpayer to help students buy houses and start businesses?
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That's right.
And what's next? Are the US taxpayers on the hook for all the money bet on Pioneer of the Nile in the 2009 Kentucky Derby? |
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06-21-2020, 09:13 PM
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20,494 posts, read 6,295,707 times
Reputation: 13583
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Quote:
Originally Posted by Lillie767
Why did college costs sky rocket? Generally because students could borrow the money. If student loans were not so easy to obtain, colleges would not have been able to raise their prices so much and so fast.
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A few years back an employee of mine was considering a vocational school and asked my opinion. What I found was the max amount that someone could get a student loan for a vocational school was what everyone was charging. Its like if the government backed loans to buy cars up to 100k. Pretty soon all cars would be $100k and people would complain about being able to afford them. |
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06-22-2020, 12:13 AM
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Location: Oregon, formerly Texas
9,031 posts, read 5,905,763 times
Reputation: 15370
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Quote:
Originally Posted by Oklazona Bound
A few years back an employee of mine was considering a vocational school and asked my opinion. What I found was the max amount that someone could get a student loan for a vocational school was what everyone was charging. Its like if the government backed loans to buy cars up to 100k. Pretty soon all cars would be $100k and people would complain about being able to afford them.
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I work for a college and can tell you what instruction costs. Just for instruction it's between 8k and 10k per student per year to deliver. That does not factor the various services.
Colleges utilize the labor of highly educated individuals and that's not cheap. A 50k instructor costs 80k when their health insurance and other benefits are factored in. If there was a fairy tale world where we didn't have those costs maybe it'd be cheaper.
Vocational subjects are even more expensive because of small class sizes and equipment needs. |
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