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Debt forgiveness is a totally backward idea

bluesmoke said:
College has become practically unaffordable and thus needs to be rectified and people making commitments based on what the employment market demands are unable to even make their loan payments. Thus, we should assist payment of current student loan debt. Neither of your proposals are a solution to both the affordability of college AND student loan debt.
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Please reread my proposals in the OP. The first proposal would solve both problems - affordability of college AND student loan debt. Second proposal addresses affordability of college only.
 
bluesmoke said:
Less likely, I would agree. Probably not, I don't know and you don't have the evidence to support "probably", depending on how you define that term. I think anyone who is having to work at less than living wage and has a college degree that the employment market demands which required an amount of loan greater than in the past would be rightfully dissatisfied.
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Department of labor keeps such statistics.

Anyone who is working for less that whatever a living wage is supposed to mean, made a poor choice in education. Their expectations were not realistic.
 
Greenbeard said:
FFELP ended a decade ago, new student loans since then have been Direct loans from the Department of Education. The large corporations we’re shoveling money into are the universities themselves. But you’re right, they always get paid regardless of what happens to the student.
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The difference doesn't matter. The FFELP loans were still subsidized and guaranteed by the government. Also, though student loans are made for a 10-year period, it takes 20 yrs ON AVG for a student loan to be paid-off. As far as the money corps shovel into unis, Uncle Sam shovels in billions, both sources also shovel jointly into R&D that ends up as business product for profit.
 
Slavister said:
Please reread my proposals in the OP. The first proposal would solve both problems - affordability of college AND student loan debt. Second proposal addresses affordability of college only.
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“Please reread my proposals in the OP. The first proposal would solve both problems - affordability of college AND student loan debt.”

Your first prop was:

“pay back tuition to former students, no matter whether it's paid off or not”

Nothing in your first proposal about the cost of attending college. Furthermore, tuition is a major part, but not all, of a student loan/debt, and your proposal does not address current students’ loan debt.

So, no, your first proposal would not “solve both problems - affordability of college AND student loan debt.”

Anything you can clarify for my edification?
 
bluesmoke said:
“Please reread my proposals in the OP. The first proposal would solve both problems - affordability of college AND student loan debt.”

Your first prop was:

“pay back tuition to former students, no matter whether it's paid off or not”

Nothing in your first proposal about the cost of attending college. Furthermore, tuition is a major part, but not all, of a student loan/debt, and your proposal does not address current students’ loan debt.
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Oops, you are right, I meant to say in my first proposal to do both - that AND make public college free going forward; i.e. (1) and (2) both.
 
bluesmoke said:
The difference doesn't matter. The FFELP loans were still subsidized and guaranteed by the government. Also, though student loans are made for a 10-year period, it takes 20 yrs ON AVG for a student loan to be paid-off. As far as the money corps shovel into unis, Uncle Sam shovels in billions, both sources also shovel jointly into R&D that ends up as business product for profit.
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The universities are the corporations walking away with all the money here. The outstanding debt figures refer to money already paid to those universities in exchange for educations that apparently weren’t worth the cost (if indeed wide-scale debt forgiveness is necessary). If all the debt needs to be forgiven, the bad corporate actors in this story are the universities that defrauded a generation with empty promises and a worthless product.
 
Aberration said:
Department of labor keeps such statistics.

Anyone who is working for less that whatever a living wage is supposed to mean, made a poor choice in education. Their expectations were not realistic.
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"Anyone who is working for less that whatever a living wage is supposed to mean, made a poor choice in education."

What choice do you think they should have made that would have so many people making higher wages than they do now?
 
Greenbeard said:
The universities are the corporations walking away with all the money here. The outstanding debt figures refer to money already paid to those universities in exchange for educations that apparently weren’t worth the cost (if indeed wide-scale debt forgiveness is necessary). If all the debt needs to be forgiven, the bad corporate actors in this story are the universities that defrauded a generation with empty promises and a worthless product.
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The unis get the most of the money, obviously. The unis simply took advantage of a market demand. The demand was by the employment market for a college degree to get a job. Colleges charged more for a higher degree of a major that presumably gets a larger salary and charging the most for a degree from the more famous institutions. And, over the yrs, charging more and more and more than COL inflation. The truth is, most of what need to know to do a job right is OJT. Not everybody that pays through the ass for a big-deal higher degree major get what they are "supposed to" in a job. Ask most any Trump University grad.
 
Slavister said:
Oops, you are right, I meant to say in my first proposal to do both - that AND make public college free going forward; i.e. (1) and (2) both.
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Thx. I always appreciate clarification.
 
bluesmoke said:
"Anyone who is working for less that whatever a living wage is supposed to mean, made a poor choice in education."

What choice do you think they should have made that would have so many people making higher wages than they do now?
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Learn a skills someone is willing to pay for. We got a shortage of skilled labor in this country.
 
Aberration said:
Learn a skills someone is willing to pay for. We got a shortage of skilled labor in this country.
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I challenge the claim you make and you give an incongruent reply that is nothing more than another unfounded claim. A claim for which, like the last one, is either misleading or you cannot support. Go away.
 
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