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+--- Thread: Student Loan Debt (/Thread-Student-Loan-Debt--36175)
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Student Loan Debt - Seagull - 11-14-2020
Is the student loan debt going to be forgiven with this new administration?
If so is it worth the gamble to incur debt so it will be forgiven?
Isn't what we all voted for after alll?
RE: Student Loan Debt - dfrecore - 11-14-2020
It's certainly not what I voted for...
RE: Student Loan Debt - StoicJ - 11-15-2020
(11-14-2020, 10:45 PM)Seagull Wrote: Is the student loan debt going to be forgiven with this new administration?
If so is it worth the gamble to incur debt so it will be forgiven?
Isn't what we all voted for after alll?
Yes, borrow as much as you can.
RE: Student Loan Debt - Thorne - 11-15-2020
(11-15-2020, 12:05 AM)StoicJ Wrote:(11-14-2020, 10:45 PM)Seagull Wrote: Is the student loan debt going to be forgiven with this new administration?
If so is it worth the gamble to incur debt so it will be forgiven?
Isn't what we all voted for after alll?
Yes, borrow as much as you can.
/s
^ You dropped this
Personally, I'm going to sign up for 5 Master's degrees and rack up 150k in debt, then fake my death and assume the role of my totally real twin brother with the same name when the Biden administration ultimately fails to actually enact these nutbar plans
RE: Student Loan Debt - Merlin - 11-15-2020
Who knows if this will actually manifest or not. It certainly won't help those of us who funded our own college degrees or those who have already paid off their past college debts. Either way, I am not expecting there to really be any kind of debt forgiveness program for people with multiple degrees.
Personally, I'd love to see the country go back to providing solid funding for public colleges as other countries do. So between state and federal support, colleges will be able to provide free (or much cheaper) in-state tuition for college students. College tuition increases are due in large part to the reduction in federal funding for colleges. A good chunk of the tuition at big schools goes toward funding scholarships for students from low-income families. So my hope is that with increased federal funding to public colleges and universities, they will be able to greatly reduce or eliminate tuition for in-state students pursuing their first degree and reduce tuition for out-of-state and folks and those seeking additional and/or advanced degrees.
I doubt that any of these programs will really help foreign students much. But if overall support is increased and schools don't have to fund their own scholarship programs, overall costs should come down for foreign students as well.
I guess we'll have to wait and see how it all shakes out.
RE: Student Loan Debt - dfrecore - 11-15-2020
(11-15-2020, 05:02 AM)Merlin Wrote: Who knows if this will actually manifest or not. It certainly won't help those of us who funded our own college degrees or those who have already paid off their past college debts. Either way, I am not expecting there to really be any kind of debt forgiveness program for people with multiple degrees.
Personally, I'd love to see the country go back to providing solid funding for public colleges as other countries do. So between state and federal support, colleges will be able to provide free (or much cheaper) in-state tuition for college students. College tuition increases are due in large part to the reduction in federal funding for colleges. A good chunk of the tuition at big schools goes toward funding scholarships for students from low-income families. So my hope is that with increased federal funding to public colleges and universities, they will be able to greatly reduce or eliminate tuition for in-state students pursuing their first degree and reduce tuition for out-of-state and folks and those seeking additional and/or advanced degrees.
I doubt that any of these programs will really help foreign students much. But if overall support is increased and schools don't have to fund their own scholarship programs, overall costs should come down for foreign students as well.
I guess we'll have to wait and see how it all shakes out.
I'm guessing that if you give colleges more money, they will spend it on more administrators rather than students. Just my guess, but I'm going from past experience.
RE: Student Loan Debt - rachel83az - 11-15-2020
(11-15-2020, 11:13 AM)dfrecore Wrote: I'm guessing that if you give colleges more money, they will spend it on more administrators rather than students. Just my guess, but I'm going from past experience.
I agree. There needs to be a tuition cap, not just blindly giving schools more money.
And I don't completely buy the higher tuition is because of scholarships thing. If tuition was lower, more students wouldn't need scholarships. Schools just say that because giving away a couple of scholarships makes them look good while still being able to rake in the dough. Except it's an unsustainable gravy train, as evidenced by the number of schools that are now struggling to make ends meet.
RE: Student Loan Debt - Merlin - 11-15-2020
(11-15-2020, 11:29 AM)rachel83az Wrote: I'm guessing that if you give colleges more money, they will spend it on more administrators rather than students. Just my guess, but I'm going from past experience.
I would hope that this would come with stipulations as to how the money must be used for tuition relief.
Prior to the 1980's, tuition was super low. Low enough that average families could afford to send their kids to college without student loans. When the government started reducing funding to colleges, tuition prices started to spike. This would ideally reverse that trend or make college inexpensive or tuition-free for local students, like schools in Europe.
(11-15-2020, 11:13 AM)dfrecore Wrote: I agree. There needs to be a tuition cap, not just blindly giving schools more money.
And I don't completely buy the higher tuition is because of scholarships thing. If tuition was lower, more students wouldn't need scholarships. Schools just say that because giving away a couple of scholarships makes them look good while still being able to rake in the dough. Except it's an unsustainable gravy train, as evidenced by the number of schools that are now struggling to make ends meet.
It isn't all schools, but this is well documented. The big schools set aside like 40% of all tuition toward scholarships for low-income students.
I don't think blindly giving schools money makes any sense. There has to be rules on how the money gets used. A tuition cap would be another approach. But that is harder to manage since schools have different tuition requirements based on their size and the type and number of academic programs.
RE: Student Loan Debt - ss20ts - 11-15-2020
I wouldn't count on anything until this actually makes it's way through Congress and they pay some bills. Until then, it's all a hope and a dream.
RE: Student Loan Debt - Merlin - 11-15-2020
(11-15-2020, 04:37 PM)ss20ts Wrote: I wouldn't count on anything until this actually makes it's way through Congress and they pay some bills. Until then, it's all a hope and a dream.
For sure. Until it's actually a done deal, don't rack up debt. I assume the folks talking about racking up debt are joking and poking fun at this more than anything.