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Lawmakers Introduce Legislation Cancelling Student Loan Debt
#1
The "cheap vote" political party trying to buy 45,000,000 votes from the lazy and dumb again.

https://diverseeducation.com/article/150375/

I worked three jobs (UPS/Sears/National Guard) for 5.5 years and went to college full-time to get my first BS.  Many of the 45 million Americans that have student loan debt are just greedy.  I know a 60-years old today going to get a Ph.D. with all loans who does NOT need it and has zero intentions of paying off this debt.  Way to subsidize bad decision making.  
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#2
Real boomer hours.
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#3
To me, "greedy" is an incredibly lazy assessment of people trying to get ahead in their lives. As college costs rose while wages stagnated, many learners have had to take out loans to be able to afford that same education, on top of working the same hours and gaining less for it.

Personally, I'd say if this college debt is creating a large economic burden that ripples throughout our entire society, we should probably not listen to the aging segment of our population who wax on about the past (avoiding any mention of how they took advantage of the social policies that they now rail against for others), and look more to the rising generation and their inability to obtain a similar quality of life for a similar quantity of effort.

I know I had about $20K in college debt and paid it off in 3 years. Still, I can reason that since much of the American Dream mythos is driven by home ownership and access to a "brighter future," we'd likely want to work to preserve that for the current generation, many of whom are facing a level of debt that will preclude any kind of future resembling that which the Boomer babies had.

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#4
Special the people who own 100k student loan. Most of them are doctor or lawyer owns student loan. It is not fair the government bail them.
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#5
(07-29-2019, 06:54 AM)Imbanewbie Wrote: Special the people who own 100k student loan. Most of them are doctor or lawyer owns student loan. It is not fair the government bail them.

That is covered:

Quote:Cancel up to $50,000 in student loan debt for every person with household gross income at $100,000 or less.


Note that it's not necessarily the person's income, but household (gross) income.
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#6
(07-29-2019, 06:02 AM)PrettyFlyforaChiGuy Wrote: To me, "greedy" is an incredibly lazy assessment of people trying to get ahead in their lives. As college costs rose while wages stagnated, many learners have had to take out loans to be able to afford that same education, on top of working the same hours and gaining less for it.  

Personally, I'd say if this college debt is creating a large economic burden that ripples throughout our entire society, we should probably not listen to the aging segment of our population who wax on about the past (avoiding any mention of how they took advantage of the social policies that they now rail against for others), and look more to the rising generation and their inability to obtain a similar quality of life for a similar quantity of effort.

I know I had about $20K in college debt and paid it off in 3 years. Still, I can reason that since much of the American Dream mythos is driven by home ownership and access to a "brighter future," we'd likely want to work to preserve that for the current generation, many of whom are facing a level of debt that will preclude any kind of future resembling that which the Boomer babies had.

I have 2 kids who are nearing college age, and I will be helping them pay for college - so you're telling me that I have to pay for THEIR college AND other people's college?  No thanks.  This is not because I'm stingy, or aging, it's because I believe in paying for what I signed up for.  Everyone didn't HAVE to take out these loans - they chose to.  I also don't want to pay off other people's cars, or houses.  Again, not because I am some greedy jerk, but because I didn't sign up for their car payments or mortgages.  AND, I don't think they should have to pay off mine.
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#7
(07-29-2019, 12:05 PM)Ideas Wrote:
(07-29-2019, 06:54 AM)Imbanewbie Wrote: Special the people who own 100k student loan. Most of them are doctor or lawyer owns student loan. It is not fair the government bail them.

That is covered:

Quote:Cancel up to $50,000 in student loan debt for every person with household gross income at $100,000 or less.


Note that it's not necessarily the person's income, but household (gross) income.

You are right, but you never know if they will quit their job and they report low income for the first year so they can quilify bailout their student loans.
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#8
My parents didn't pay for college and kicked me out early, it took 8 years to get my bachelor's degree without taking out any loans. I don't agree with having to pay someone else's bills, but I wouldn't be against some measure helping people to refinance their loans at a much lower rate, and writing off part of their loans in exchange for services to their community. Community college also needs to be free or near-free, and something must be done to lower tuition at state universities. A bachelor's degree at my flagship costs 50k, that's insane. But I don't wanna pay for someone's 70k art institute degree, while I busted my ass and worked around the clock doing things the right way, sorry.
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#9
Yes it would incentive people to take a year off to erase 100k in debt. Or work some cash jobs such as bar tending or waiting tables.
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#10
(07-30-2019, 01:48 AM)dfrecore Wrote: I have 2 kids who are nearing college age, and I will be helping them pay for college - so you're telling me that I have to pay for THEIR college AND other people's college?  No thanks.  This is not because I'm stingy, or aging, it's because I believe in paying for what I signed up for.  Everyone didn't HAVE to take out these loans - they chose to.  I also don't want to pay off other people's cars, or houses.  Again, not because I am some greedy jerk, but because I didn't sign up for their car payments or mortgages.  AND, I don't think they should have to pay off mine.

Well said.


(07-31-2019, 03:05 PM)NolaRice Wrote: My parents didn't pay for college and kicked me out early, it took 8 years to get my bachelor's degree without taking out any loans. I don't agree with having to pay someone else's bills, but I wouldn't be against some measure helping people to refinance their loans at a much lower rate, and writing off part of their loans in exchange for services to their community. Community college also needs to be free or near-free, and something must be done to lower tuition at state universities. A bachelor's degree at my flagship costs 50k, that's insane. But I don't wanna pay for someone's 70k art institute degree, while I busted my ass and worked around the clock doing things the right way, sorry.

Also well said. I'm curious when you said it took you 8 years to get your bachelors degree, are you referring to your TESU degree or a prior degree?

Here are my ideas on how to make college less expensive. I think they should change the way Pell Grant works. Maybe make it so you don't get a refund check. Too many people exploit that, especially in my state. Although they have made it harder, by requiring more classes to get aid and if you don't attend the first class your aid is frozen and too many withdrawals screw up your aid as well. Anyways, I say if they get rid of the refund, they could expand the pell grant to more people or just give the existing people more aid if they take a full load. Another idea is to have a staggered Pell Grant based on credits completed. Basically, if you are almost done with your degree you get more aid. I'm not sure how this would work exactly, but the idea is, it would encourage people to not just start a degree, but finish it as well.

Also, find a way to make more scholarships available for upperclassman as well as non-traditional college students. Most scholarships only available to high school seniors and first-year college students.

Additionally, people should really educate people about student loans. Lots of people have no idea how they work. I know someone who used their student loans to pay for a new television, concert tickets and a fancy apartment because "student loans cover it."
I also know someone who took out a $1,000 loan (the least amount they were allowed take out) and used that loan to pay for only $400 worth of CC courses. But they spend so much money on vending machines, soda and snacks. With the right guidance if they had just made better choices along the way; They might not even needed to take out a loan at all.

I really think there should be some sort of personal finance class or test mandatory for all college students, or at least for any student who wants to take out a large loan.
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