The Decline Of America: Student Loan Forgiveness Act Of 2012 Introduced (Glenn Beck, dollars)
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I really see nothing to rage or even be upset about in this.
That's because you're not a right wing nut frothing at the mouth about the possibility of someone who isn't rich getting something from the government.
I hear you've had multiple abortions and may even like gay people.
Kids aren't building the schools and the classes, schools are dumbing down the classes to pass more students and reap the rewards. Yes kids do something dumb degrees but to be honest alot of these jobs don't require degrees but jobs require them to limit the amount of people hiring.
Many years ago, I worked alongside of mechanical engineers on a daily basis. The ones that succeeded were willing to get their hands dirty and dive in with the rest of us. Those that didn't, muttled through and got their entry level engineer pay throughout their career.. Kids today think they are above getting their hands dirty and actually learning more than theory. The crew I was working on at the time had education majors workng on it, for the same wage as I was working for without a degree and they were happy to be making a higher wage than their counterparts in a classroom. The overall mentality has changed and it is to our demise that it has.
That's because you're not a right wing nut frothing at the mouth about the possibility of someone who isn't rich getting something from the government.
I hear you've had multiple abortions and may even like gay people.
The government doesn't have its own money to give away, but it does have our taxpayer money to redistribute.
Id like whoever is loaned my money, to have to pay it back with interest as agreed, just as I have had to do when I have taken out a loan.
FWIW the federal government should have nothing to do with education or guaranteeing loans.
That's not how student loan distributions work. The "student loan money" goes automatically to the tuition amount to begin with, and the school itself generally authorizes what may be borrowed above that amount for living expenses.
Anyway, a bill like this is just recognition of reality - default rates are over 25% already, and if you include deferments and other non-default loan modifications, less than half of all student loans are "performing" as they were originally intended.
When something like that happens, it's usually a signal that the market has failed, and the anticipated repayment structure is not realistic anymore.
This is also, over the medium term, something of a backdoor bailout to taxpayers and median-value homeowners. All the economic studies indicate that when people service student loans, their consumption in other areas of the economy falls off, often sharply. Now that we have a rising percentage of the population as a whole burdened with those kinds of debts, the effects on the overall economy are threatening to get serious.
Without some method of reining in debt payments, the economy as a whole will take a hit while a handful of financial industry "players" continue to benefit.
The government doesn't have its own money to give away, but it does have our taxpayer money to redistribute.
Id like whoever is loaned my money, to have to pay it back with interest as agreed, just as I have had to do when I have taken out a loan.
FWIW the federal government should have nothing to do with education or guaranteeing loans.
One of these days conservatives will admit they're not the only taxpayers. I personally pay a tax rate that is DOUBLE the friggin rate of the Republican nominee for president.
Our government has an interest in promoting an educated citizenry. I realize the Reps don't like that idea because it might promote independent thought and make someone realize that Rush is a moron but most civilized people do.
I actually sort of agree with the OP. I paid off my student loans. So should other people. But you can't bail out rich bankers and then pretend you're into personal responsibility.
Decline of America caused by student loan forgiveness?! It seems the OP is examining the symptom rather than addressing the root causes that have brought us to this specific conundrum. Idiots in this country, including our own president, tell everyone to go to college although there are not millions of jobs available for college grads. An entire generation of young people has been pressured into going to college by lazy Baby Boomers who have no clue how to generate wealth for America because they never contributed to our country's wealth the way their parents did through elbow grease and a hard day's work. Any job that requires manual labor or physical exertion has been taught to be shameful by Baby Boomers to their children. As a result, tens of thousands of American factories have been shut down and relocated to China and illegal immigrants now dominate all manual labor professions from construction, maintenance to fast food to landscaping; all jobs once proudly performed by native-born American citizens. This leaves tens of millions of American kids with nothing but the option to chase the handful of living wage White collar jobs or skilled trade jobs in America. Unfortunately, not everyone is handy, so more kids opt to go to college instead of trade school.
Sadly, colleges and universities in America have taken complete advantage of the fact that every Tom, Dick and Jane is going to college nowadays. Colleges no longer attract only the best and brightest. The quality of college education has fallen steeply in the past 10-20 years and colleges have become more interested in getting kids through college and collecting their enormous tuition payments rather than teach them useful vocational skills. People running colleges aren't complaining because they are getting filthy rich off of the college casino that every other high school grad is gambling in every Fall, Winter, Spring and Summer. College has never been about attaining vocational skills. Rather, college has been about creating a well-rounded worldly individual. This has been the basis of college since the days of Greek antiquity. This is the reason why all kids are required to take core math, science AND art classes. It is only a recent phenomena where college has become a high-stakes gamble that may or may not enhance a person's employability and immediate future earnings. For the vast majority of kids in school today, college has become an extended adolescence for 20 somethings where young people develop terrible maladaptive habits like everyday binge-drinking, laziness, lack of steady employment and poor eating habits while racking up tens to hundreds of thousands of dollars in debt. Hundreds of thousands of college kids fritter away their student loans on not only classes and text books, but also the latest iphone, multiple pairs of $300 Nikes that come out every month, an endless supply of liquor for every day of the year and all-out Spring Break trips to exotic locales. It is well-documented that college kids do not learn much away at school no matter what they study. Most college kids getting good jobs upon graduation get these jobs on the strength of networking and family connections; not learned knowledge, talent or aptitude. This is really not possible seeing as 90% of jobs ad's ask for both a college degree and 5+ years of full-time professional work experience. This weeds pretty much everybody out because people that do have work experience often do not have college degrees and people with college degrees do not have work experience. Also, older workers work experience often is outdated due to constant innovations in technology. There are few winners here. Ever since loans have been allowed to subsidize paying for higher education, the price of college has risen astronomically. Does any of this seem familiar? *cough* housing bubble *cough*. College has become a massive exploitative scam that destroys the future of millions of young adults before their lives even begin. Someone over the age of 35 has no idea how hard it is to succeed, let alone make simple ends meet, for the average young person these days...
I do agree adding the nearly one trillion dollars in student loan debt to the national debt is further screwing over America. But America is in deep #$%@ already.
Fair points....but absolving these students of their legal responsibilities is not the answer to the problem either. What are you teaching current and future students if the government comes to the rescue after doing all of the things you mentioned above? Party, be lazy, and don't learn and the government will forgive your debts for doing so?
You obviously haven't the faintest clue how federal student loans work, because none of them can be deferred for ten years, and especially not when you have a steady income.
I'm sure you got the jist of his argument without having to get technical. The idea here is that students can choose to do other things with their money instead of paying their legal obligations if this law is passed.
Young culture looks down on low paying jobs, who pushed all these college programs? Why do I see IT grads being promised big money when a good amount of jobs are overseas? Someone is pushing false hopes and dreams on the youth. What the other poster said is true, how many young people don't even know how to cook these days?
Colleges pushing careers when after graduation, you'll make 9 a hour.
You speak of lots of "pushing" things on college kids. Who's doing the pushing? What are they pushing? I've never had anything pushed on me that I wasn't able to deflect using my own good judgement and common sense. Are you suggesting that college students aren't smart enough to do their own calculations about their own future?
I really see nothing to rage or even be upset about in this.
Good! When I get the bill for the portion of those "forgiven" loans that I have to now pay as a taxpayer, I'll send it to you.
Then you'll have even more to not rage or even be upset about.
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