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It would have a stimulative effect for sure, those students would likely be able to purchase homes, and start families sooner which would have a positive effect on the economy. However, is it worth $900,000,000,000...that is the bigger question. I would add a moral hazard argument, but after the bank bailouts that is pretty much dead.
They would also start out in life with the idea that they do not have to take responsibility for their own spending habits.
NO, NO, NO! Never allow government to forgive such debt. Actually, the government should never have been making these loans in the first place.
The only stimulative effect I see would be "teaching" these loan recipients to escape the responsibility of paying for borrowing $'s...very bad lesson in life.
Yes, this horrible economy of today needs to recover. However, there are sane and sensible ways to do that. The first and foremost is GET THE GOVERNMENT OUT OF THE WAY...never have government loans forgiven which throws that burden onto the taxpayers.
So I'm seeing this make the rounds on Facebook -- sign a petition to forgive all student loan debt, which is somewhere around $900B.
Would that entire $900B be actual deficit spending?
Would forgiving student loans be rewarding irresponsible borrowing behavior or rewarding poor educational choices?
Would it set a bad precedent for future loan choices?
Why stop there, why not pay off all credit card debt?
Would this have a true stimulative effect?
Is this in any way a serious proposal?
Why do you consider, based on one of your fallacious and complex questions, that funding college with student loans constitutes "irresponsible behavior or rewarding poor educational choices"?
On the next question, it would do that -- set a bad precedent. I realize there's some graft with the system in place now -- but the gov. gives you subsidized loans that you cannot hide from, cannot discharge in Chapter 7 or 11, and must pay back someday.
Student loans, I'd venture to guess, fund the majority of those seeking a college education.
Discharging it would boost the economy because people would use that money to start buying more crap that they don't need.
It won't ever happen, though. The wealthy, fat-cat loan sharks need money to buy their crap too.
Last edited by DiogenesofJackson; 09-10-2011 at 07:13 AM..
Reason: add emphasis
Do you really believe that?? In this day and age blue collar jobs are very hard to find..ie manufactoring and journey level professions..and, without a degree thats about all thats left besides low wage service jobs. So where does that leave the average citizen trying to improve themself? Not everyone that got a student loan was a professional student.
With the very bad education being given today, "most" young people would be far better off to find a job and learn their vocation "on the job." It means starting at the bottom and working up. In the long run, anyone doing this will have a far better future, get better jobs and be more productive and responsible in the job arena.
There are only a very few areas in which "higher-education" is helpful out in the real world. Most of those areas are in the "solids" like math, real science (not the crap global warming and foolishness like that), physics...real solid areas that biased, uneducated and foolish professors cannot screw up with their political agendas and/or foolish prejudices. Add to that the medical arena for basics, but it is the internships and time spent with long-established doctors that have had "ON-THE-JOB experience." There are other areas that require the solids for basic background, but any formal education in required areas is ONLY a beginning.
Why do you consider, based on one of your fallacious and complex questions, that funding college with student loans constitutes "irresponsible behavior or rewarding poor educational choices"?
On the next question, it would do that -- set a bad precedent. I realize there's some graft with the system in place now -- but the gov. gives you subsidized loans that you cannot hide from, cannot discharge in Chapter 7 or 11, and must pay back someday.
Student loans, I'd venture to guess, fund the majority of those seeking a college education.
Discharging it would boost the economy because people would use that money to start buying more crap that they don't need.
It won't ever happen, though. The wealthy, fat-cat loan sharks need money to buy their crap too.
There are the ambitious college students who actually work their way through school. Some make the decision not to go to a party school and instead save money by living at home and attending a near by college and work many hours to pay for their tuition and books.
What about them? They are often the smarter students by far because they didn't choose to start off heavily in debt, and they get nothing if the borrowers have their big debts wiped out.
Yes by all means forgive,bailout these loans to irresponsible kids so some else has to pay it has become the American way....maybe the credit collectors will quit calling my house asking for my niece's address or phone for her loan or grant she has not paid.She blames Bush too for all her misery when it was created by her own hand by being irresponsible.Kids today are to babied by T-Ball soccer moms who stay on mommy and daddy's HC plan to the age of 26...you should be on your own at 18 to explore the world not the parents basement living like a spoiled brat.At 18 we could legally drink beer [3.2%] besides being allowed to vote or serving your country.... you over aged professional students need to get a life.
No American student should have to pay anything for advanced education. Their resulting contributions to society way more than compensate for the expense of educating them.
No American student should have to pay anything for advanced education. Their resulting contributions to society way more than compensate for the expense of educating them.
Like living in mom and dads basement ? I have a friend in his late 50's still going to school with many degrees,never married works crappy jobs and has not done one damn thing to contribute to society other than
"do you want another cold one? $1.75 please...well i guess he does know how to store beer correctly at farenheit to celsius temperatures,keep the books right,and is interesting to talk to.
Like living in mom and dads basement ? I have a friend in his late 50's still going to school with many degrees,never married works crappy jobs and has not done one damn thing to contribute to society other than
"do you want another cold one? $1.75 please...well i guess he does know how to store beer correctly at farenheit to celsius temperatures,keep the books right,and is interesting to talk to.
You do understand the value of an edu..... err, never mind.
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