***First Democratic Debate Tuesday, October 13, 2015***

[2sleepy]

Originally Posted by lorrysda

Sorry, you are wrong. Don't forget all the student loans "forgiven" that were never and will never be repaid. No...only by borrowing in the private section can students become more aware of economic practices. That has been proven by what government student loans have caused.

what student loans were forgiven? It's hard to get out from under a student loan, the only loan 'forgiveness' that I'm aware of are if a school goes out of business without refunding tuition that was financed with a student loan and a few programs that cancel some loans after employment in certain professions, i.e. teaching, nursing, public service. Private sector student loans were a joke, they were 100% guaranteed by the government and had ZERO risk but interest was priced as though there was a risk of default. That was a sweet deal for banks...not sure why you think it was such a grand idea

[LearnMe]

Originally Posted by lorrysda

The government needs to stay out of everything except what the Constitution actually names as where Federal Government can function...PERIOD! Education is NOT one of those.

If we can't get government's destructive interference out of "loaning $'s" for college/university tuition, then it is parents that should stop it. This government-loan mess has put youngsters so far into debt before they even get out of school it will take them years to pay it off and some will never be free. Terrible interference by government. ONLY private-sector loans should ever be used and if it takes 1 or 2 years and then go to work an pay off the debt or save for the next 2 years, that's how each generation learns how to handle their finances properly. A post above indicated only the "rich" could afford higher education. BULL! For decades those wanting higher education...who were NOT RICH...simply worked and save for it. I know a couple people who actually slept in phone booths in cities in order to save $'s to pay their tuition. They all worked hard for their degrees and all that I know who were determined...who were NOT rich...turned their lives into wonderfully productive lives and were fantastic citizens. Poor me is not an excuse. It is the individual's makeup, determination and working for accomplishment that determines one's future.

Even how to handle credit-card debt needs to be understood. I have had credit cards since the 1970's and I never charge any more on my cards than I can pay "IN FULL" at the end of the month (or billing period). I NEVER pay interest. If you want something you can't pay for within that month, save the $'s and buy when you have that amount. There are a few exceptions, such as a vehicle or house or very large expenditure equivalent. However, even there not going into debt works if you figure it out. I lived in a 20' x 40' mobile home for 27 years to save $'s to build a house. We never borrowed $'s to build, but paid with the savings and finished by saving and pay as you go. I now have a gorgeous house and have saved over $100,000 in mortgage interest not paid. May not work for everything that way, but these figures should give food for thought to anyone considering going into debt.

Not hard to smell the Tea Party here...

The old "government needs to stay out of everything except as stated in the Constitution" is a notion and/or argument hard to believe these days. How I wish we could know how our founding fathers would consider that notion or maybe even better how I wish they knew then what we know now.

All the rest, so full of assumptions, presumptions, self-centeredness!

Federal financial aid helped me pay for my education even back when I had a pretty good P/T "college job," making more money than most of my college friends, working as a supermarket night supervisor. Back then I could just about put myself through college (a pretty well-known 4-year university), because tuition was much lower, so was the cost of living/housing.

Fast forward at least a few decades, and no way could my two kids do the same, not without federal financial aid. Though both worked P/T jobs as I did, neither could possibly come as close to covering the cost of their education plus housing plus the rest. Here again the clear evidence that those who make closer to the minimum wage have fallen far behind what it takes to stay ahead and/or out of debt.

Just as crazy is the notion that it should strictly be private lenders who lend this money rather than government. Another gallant effort to put all our faith in the banks and good luck getting terms anywhere near as affordable, in keeping with what a college student needs after getting right out of college. What YOU did may be all fine and dandy as far as you are concerned, but when considering public policy, there are a few more variables that need be considered. Living in a mobile home, for 27 years, may also be fine for you, but not necessarily possible or desirable for others. I rented a room in someone's home for a good amount of time as well, saved some money, but that worked for me for a time...

There are those who need to stay home and care for others, younger siblings, elder parents, extended family. There are those who truly believe their best shot in life is a college degree from a good school, not cheap. You don't say how you also financed your education while living in your mobile home, but it sounds like you don't realize all the considerations involved. Imagine those who get through college and then consider law school! Graduate school, medical school! You think you can save your pennies today and manage all that? Simply get your money from BofA you say?

Glad you are happy in your beautiful home today (as am I), maybe after also putting some kids through college (as I have helped to do), but please, have mercy when it comes to all the libertarian policy and financial advice...

[LearnMe]

PS: I guess the federal government should have also stayed out of the first-time home buyers assistance programs, like FHA.

Or not helped finance our country's infrastructure, our national park system, the space program...

Are we really still having this conversation?

Okay, I know we are all well aware our founding fathers heavily debated whether to include language in the Constitution related to the space program, but ultimately they decided against. Should we not have followed JFK's call to the Moon as a result?