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You may want to reread what I wrote. I didn't say anything about not paying back debt. I said the cost of college was so high that many students had to both work and take on debt while in school. Tuition was significantly lower when so many of us were in school. Such that you could work over the summer and make enough to pay tuition for the year. Now you can't.
What I said was this whole Biden tuition thing is a distraction from the real issue which is the cost of college.
I have a recent college graduate and one kid in college. I am taking college classes at our local CC.
No student loans. Even today it is possible to graduate debt free.
While certain student loan borrowers can use the bankruptcy process to have their loans discharged, the process has been very cumbersome — but this might change thanks to new guidelines.
In January, the Justice Department updated the attestation form that borrowers must complete to seek bankruptcy discharge of their federal student loans, Forbes reported. These changes include “tweaks to the reporting of monthly household income, clarifying instructions regarding when a borrower needs to provide additional information, new questions seeking details on whether a school closure impacted a borrower’s ability to repay their student loans, and more detailed information on a borrower’s student loan repayment, deferment, forbearance, and consolidation history.”
In addition, the updates stated that if the borrower is disabled, the disability does not have to be “permanent,” only “chronic” to potentially be a basis for a bankruptcy discharge.
As many young people continue to waste years going to college, more people are going to file for bankruptcy in the future.
We are not facing the root cause of the problem, which is that some people are going to college who should not, and others are going to colleges that are too hard for them. Hence, they flunk out and owe huge sums of money they cannot pay back.
College is not for every person, and Harvard is not for every college student.
As many young people continue to waste years going to college, more people are going to file for bankruptcy in the future.
We are not facing the root cause of the problem, which is that some people are going to college who should not, and others are going to colleges that are too hard for them. Hence, they flunk out and owe huge sums of money they cannot pay back.
College is not for every person, and Harvard is not for every college student.
This is one of the most important statements in either of these college related discussions. And unfortunately, one that too many people, esp those in education leadership, fail to recognize.
If you're a premier athlete who is vital to the success of the school's basketball, football, or whatever team - I don't think you have to worry too much about passing your classes and graduating.
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