[Locked due to politics] Student debt cancelation. Seems there are strong opinions against it from some.

[ice445]

Can I just make a point here? Culturally, we've been telling our children for decades that if you don't go to college, you'll be working at McDonald's for life. I heard it all through school growing up. Many kids just go based on the pressure to do so. How are you supposed to really know what to do with your life at such a young age? Let's say someone gets a basket weaving degree, are they really 100% at fault for that? Some people are lucky and know what they want to do, and just do it. Others stumble onto what they are good at. But for many other average people, they get completely lost in the process and rack up obscene debt while doing so. The system is designed to feed kids into the meat grinder. 18 year old kids who are clueless. Many have no good role models in life to help them understand their options either. I sure didn't.

I don't think debt forgiveness makes sense economically, but we need to do something to end this meat grinder. Preferably by lowering cost of admission or making trades more culturally acceptable.

Sponsored

 

[oneheadlite]

Don't know if this has been posted but;

...if you are going to live in this country and take on a bill for
services rendered to you for a fee, PAY THE DAMN BILL!!
I'm sick of people wanting something for nothing.
NOBODY made you sign for the further instruction to helpyou get a job.

Same as paying your damn taxes.
People owe them; "pay them"!!!!!

 

[Polski]

The tree was me, the jail reference was someone I knew. Am I an idiot because a tree fell on me? The person who was in jail who was innocent was Proven innocent by DNA over a decade later. Was he an idiot because he was beaten into a confession for days? Things do happen that are out of our control.

That is exactly what I am talking about, "do not argue with an idiot - he will bring you to his level and win with experience" - stop being a little bitch, pay your fucking debt/college/mortgage like normal people do... Don't ask me for my money (taxes that I pay)

 

[15ThreePoint7]

That is exactly what I am talking about, "do not argue with an idiot - he will bring you to his level and win with experience" - stop being a little bitch, pay your fucking debt/college/mortgage like normal people do... Don't ask me for my money (taxes that I pay)

Don't know how you got to that from my statement.

 

[Jmtoast]

Can I just make a point here? Culturally, we've been telling our children for decades that if you don't go to college, you'll be working at McDonald's for life. I heard it all through school growing up. Many kids just go based on the pressure to do so. How are you supposed to really know what to do with your life at such a young age? Let's say someone gets a basket weaving degree, are they really 100% at fault for that? Some people are lucky and know what they want to do, and just do it. Others stumble onto what they are good at. But for many other average people, they get completely lost in the process and rack up obscene debt while doing so. The system is designed to feed kids into the meat grinder. 18 year old kids who are clueless. Many have no good role models in life to help them understand their options either. I sure didn't.

I don't think debt forgiveness makes sense economically, but we need to do something to end this meat grinder. Preferably by lowering cost of admission or making trades more culturally acceptable.

plenty of people run small businesses and never go to college. But many who could never do because of what you’re saying.

 

[newmoon]

Not one cent of my taxes should include any payment of student loans to anyone period. You agreed to take out the student loans for school, it is your debt and not mine. The Democrat party is simply buying votes.

If they want to extend payment terms or lower interest rates that is fine just don't use taxpayer dollars to forgive their debt.

 

[HoosierDaddy]

As for the loans still owed. The federal reserve could forgive them. Then that money would not need to come frome anywhere, it would not need to be paid by anyone. The institution that created it simply writes it off.

Again, I have a hard time believing some of these posts aren't jokes.

Does anyone actually think student loan repayments just get shredded? Of course not, the money is used to pay for other govt services, roads, welfare, food stamps, etc, etc, etc, etc, etc..

If you write off the loans, you either cut those other services by an equal amount OR raise taxes an equal amount to compensate.

If anyone really believes it doesn't cost anything to write off the loans they should push for the govt to loan every citizen a million, no make it 10 million, and then write those off since it wouldn't cost anything.

As JB would say: Come on man!

 

[Cobrakit]

As JB would say: Come on man!

Actually JB's probably leaning hard that way! Again, no FREE LUNCH, someone has to pay. Do these folks think that the government doing anything doesn't weigh on the backs of taxpaying citizens. Have they seen how much of the federal budget is already tired up with entitlement programs that we can't afford.

OBTW I'ld like to own a Ferrari or Lamborghini, but I can't afford it and enjoy the other parts of my life. This is also why I have a Cobra replica that I built myself instead of an original Cobra that Carroll Shelby built. However, if all you free college folks would like to donate to my supercar fund, I'll set up a GOFUND me page! Thanks in advance for your support!!!!

 

[Bugs]

We might address one root-cause of the problem by improving the career guidance that we give to our kids. (Background: Our 3 young'uns were regularly employed in school, had scholarships and with help from us were able to graduate college without debt.)

Our experience for all 3 of them is that their High School guidance counselors were significantly biased towards college, rather than other options such as trades, technical, business, etc. Their first encounter with the counselor involved, among other things, determining their degree of financial resources, including calculating the size of the student loans they could qualify for. That is all well and good, except that the counselors provided no caution about the responsibility accompanying the loans. They seemed to present student loans as the normal, standard path to a 4-year college degree.

By the time our 3rd kid was in H.S. and contemplating higher education, we had her run a ROI analysis (Return-On-Investment) of time and cost for her prospective higher education and subsequent career choices. She found and talked with educators from a variety of schools and departments as well as folks from her target professions to determine what to expect. It wasn't easy for her, but she (mostly) enjoyed the process and agrees this brought clarity to her decisions. I wish I’d thought of this for my first two kids.

I suggest at least some version of this process be a standard exercise for all High School Juniors or Seniors regardless of the careers they are considering. This would give them a sense of what activities the jobs entail, learn the income they can expect from these potential careers and better realize what will be required from a lifestyle perspective to meet any loan obligations they assume.

I've seen recent efforts within our state to balance the “college bias” message to students. Idaho has modified their "Go On" and “Don’t Fail Idaho” education-promotion campaigns to focus a bit more on college alternatives and to promote the importance of completing High School.

One of the best efforts that I’ve seen in this regard comes from Mikes Rowe - the guy from "Dirty Jobs". He has established the Mike Rowe WORKS Foundation to promote the honor and prestige of good ol’ fashioned work. He says it much better than I ever could. I agree with his viewpoint.

 

[Briebee72]

IM curious show many of you with paid off loans sitting in offices with degrees telling others to not be afraid to go out and get a trade job and do good old manual labor , got your degree so you could get a office job because you yourself didnt want to do manual labor?

 

[Bugs]

I'm sorry Briebee72, but to me, your last response sounds like trolling.

I come from a blue-collar background and 95% of my family work in non-college-related careers. All of us started in low-skilled labor-only jobs, but all of us have moved into more highly-trained, less manual intensive jobs.

I have no problem with people desiring to improve their skills and their value to their employers or their careers whether that be via college, trade schools, apprenticeships or just plain tenacity and imagination.

I've spent enough time on the end of a shovel to know I didn't want to stay there.

 

[Jmtoast]

IM curious show many of you with paid off loans sitting in offices with degrees telling others to not be afraid to go out and get a trade job and do good old manual labor , got your degree so you could get a office job because you yourself didnt want to do manual labor?

I have no degree, make 6 figures in an area where 6 figures is very good pay, and am set in regards to retirement. You don't need to do manual labor to be self employed. Plenty of options. Like real estate for example. I personally know plenty of guys who are wealthy thru real estate. Flipping, rentals, selling, and etc... Internet is another option.

 

[Briebee72]

I'm sorry Briebee72, but to me, your last response sounds like trolling.

I come from a blue-collar background and 95% of my family work in non-college-related careers. All of us started in low-skilled labor-only jobs, but all of us have moved into more highly-trained, less manual intensive jobs.

I have no problem with people desiring to improve their skills and their value to their employers or their careers whether that be via college, trade schools, apprenticeships or just plain tenacity and imagination.

I've spent enough time on the end of a shovel to know I didn't want to stay there.

No IM not trolling, First you got to understand my background. I have never been a put myself first person. I got into medicine, which is a total selfless industry where you job is to literally care about everyone else. My entire career is about empathy, sympathy and putting others before myself.

People tend to take things as a blanket statement and always seem to include themselves into anything said. I am not saying everyone here is completely unsympathetic to others but read the comments and you can see how one would draw that conclusion.

IM not saying EVERYONE is but , read the comments for face value and it does seem there is more then just a little bit of hypocrisy here on this topic.

People saying others should do manual labor when they themselves don't or saying others should pay their debts like they did but then follow it up with a list of ways they actually did not pay out of pocket for their own debts. Even though they have convinced them selves they have when in reality other people, funds or agencies signed the checks. read the comments and maybe youll see what I see.

But I think the biggest difference is I work in a selfless field that you must put others before yourself and everything is about others. So I guess its life experiences that divide us and make our individual opinions what they are.

I just think people have lost touch with the fact that we all need other people and that we all need help sometimes. That Money is not the be all end all of life yet many have made it that way.

Ill say again I am not saying any person is right or wrong in this thread. I simply wanted people to talk. Do I expect anyone to change their mind ... LOL Nope. I know thats not gonna happen but at least I put it out there. I do have some hope as I have seen a few comments , a few rather well worded responses at that, that don't directly agree fully, but at least acknowledge the problem and see where it is a problem without simply saying well screw them.

I think I am one of a dieing breed of people who actually care what happens to other humans. Instead of walking past a homeless person and instantly saying go get a job I did. You have no idea what their circumstances are. Same with student loans. Sometimes people just need help.

 

[ice445]

I know this not supposed to be political, but it is. I live in one of the liberal states where they do money grabs where they can, trying to get out of debt.. This all needs to stop. States and Federal need to STOP SPENDING, STOP SPENDING, STOP SPENDING. If you want to have student loads forgiven, look to the college and universities for the money.

Yeah, and its bipartisan too. Both sides LOVE spending money that our children haven't even earned yet..

 

[15ThreePoint7]

Again, I have a hard time believing some of these posts aren't jokes.

Does anyone actually think student loan repayments just get shredded? Of course not, the money is used to pay for other govt services, roads, welfare, food stamps, etc, etc, etc, etc, etc..

If you write off the loans, you either cut those other services by an equal amount OR raise taxes an equal amount to compensate.

If anyone really believes it doesn't cost anything to write off the loans they should push for the govt to loan every citizen a million, no make it 10 million, and then write those off since it wouldn't cost anything.

As JB would say: Come on man!

Do you know how a bank creates a loan? It's actually interesting.

As for loans to everyone, they could, then the dollar would crash.

Sponsored