What is going on with student loans?

[Anonymous]

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Anonymous wrote:There is no point in any forgiveness unless it's part of a broader solution to the cost of higher education. Forgiveness now just sets up the same problem in another decade

Agree that there needs to be a broader solution, but it's a bit hyperbolic to say "there's no point in any forgiveness" without it. The people who get their loans forgiven will benefit, especially those with low balances and low incomes (where a low balance is a burden). I do think it should be for people who have been in repayment for a certain amount of time and not just everyone who happens to be in repayment right now and then nobody else.

And entering freshman who face the same situation (actually worse thanks to educational inflation) get nothing. There hasn't even been a whisper about solving that end of the problem other than empty campaign rhetoric.

$10,000 of forgiveness is something Biden can do right now. He can't unilaterally commit to forgiving incoming freshmen's debt that they haven't even accrued yet. He probably won't even be president when they go into repayment. He can't forgive everyone's loans forever or stop inflation of college tuition. I do think his administration should come up with a plan to deal with that, but it doesn't mean he can't forgive $10,000 now. It's the responsibility of Congress to come up with a longer term solution.

The department of education as well as any grant issuing arm of the government can attempt to control costs through rule making. If you tied research grants to undergraduate affordability, schools would find a way to make it happen

Fair enough but that's a great example of something that would help future borrowers but not borrowers currently in repayment. So is your issue that you only want to help future borrowers?

DP it should be obvious that a systemic fix would be far more meaningful than some useless one-off loan forgiveness. Not sure why you’re having difficulty understanding that.

Wow you are pleasant. Sounds to me like you don't understand the need to help current borrowers that are struggling.

The government isn’t your dad, there to bail you out from every dumb choice you make. You are accountable for your choices and your actions.

But my actual dad was a failure. I wasn’t born to someone wealthy and he only had an 8th grade education (got his GED in the Air Force during the Korean War). I didn’t pick my parents. Why should I suffer because they couldn’t get their sh*t together. Government should have a social safety net.

Life is unfair. Why should I pay for your stupidity? I worked my way through college and graduated with zero debt. You could have done the same but you chose to go into debt. Your problem, not mine.

OK grandpa. That's not actually possible now

This. No one has a summer job or work study arrangement that nets them the 60-80k per year they need to pay for college. Grandma or Grandpa here probably went to college in 1979 when the tuition was $1,000 and you could make that waiting tables. Get mad at your alma mater for hiking tuition, not a bunch of kids who are trying to give themselves a brighter future.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no point in any forgiveness unless it's part of a broader solution to the cost of higher education. Forgiveness now just sets up the same problem in another decade

Agree that there needs to be a broader solution, but it's a bit hyperbolic to say "there's no point in any forgiveness" without it. The people who get their loans forgiven will benefit, especially those with low balances and low incomes (where a low balance is a burden). I do think it should be for people who have been in repayment for a certain amount of time and not just everyone who happens to be in repayment right now and then nobody else.

And entering freshman who face the same situation (actually worse thanks to educational inflation) get nothing. There hasn't even been a whisper about solving that end of the problem other than empty campaign rhetoric.

$10,000 of forgiveness is something Biden can do right now. He can't unilaterally commit to forgiving incoming freshmen's debt that they haven't even accrued yet. He probably won't even be president when they go into repayment. He can't forgive everyone's loans forever or stop inflation of college tuition. I do think his administration should come up with a plan to deal with that, but it doesn't mean he can't forgive $10,000 now. It's the responsibility of Congress to come up with a longer term solution.

The department of education as well as any grant issuing arm of the government can attempt to control costs through rule making. If you tied research grants to undergraduate affordability, schools would find a way to make it happen

Fair enough but that's a great example of something that would help future borrowers but not borrowers currently in repayment. So is your issue that you only want to help future borrowers?

DP it should be obvious that a systemic fix would be far more meaningful than some useless one-off loan forgiveness. Not sure why you’re having difficulty understanding that.

Wow you are pleasant. Sounds to me like you don't understand the need to help current borrowers that are struggling.

The government isn’t your dad, there to bail you out from every dumb choice you make. You are accountable for your choices and your actions.

But my actual dad was a failure. I wasn’t born to someone wealthy and he only had an 8th grade education (got his GED in the Air Force during the Korean War). I didn’t pick my parents. Why should I suffer because they couldn’t get their sh*t together. Government should have a social safety net.

Life is unfair. Why should I pay for your stupidity? I worked my way through college and graduated with zero debt. You could have done the same but you chose to go into debt. Your problem, not mine.

OK grandpa. That's not actually possible now

This. No one has a summer job or work study arrangement that nets them the 60-80k per year they need to pay for college. Grandma or Grandpa here probably went to college in 1979 when the tuition was $1,000 and you could make that waiting tables. Get mad at your alma mater for hiking tuition, not a bunch of kids who are trying to give themselves a brighter future.

My father has this view. What he doesn't say and my mother loves to remind him about is that he worked a few hours a week and that was enough to cover tuition and room and board.

[Anonymous]

Anonymous wrote:
Not that many Americans went to college and a sizeable number who did do not have loans anymore. It's a wealth transfer to the few that will piss off the many.

https://www.census.gov/content/dam/Census/library/working-papers/2022/demo/sehsd-wp2022-09.pdf

Fake news. The overall immediate college enrollment rate for American 12th graders has been nearly 70% for quite some time, approaching 85 to 90% when you factor in later non-immediate enrollment.



https://nces.ed.gov/fastfacts/display.asp?id=51

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no point in any forgiveness unless it's part of a broader solution to the cost of higher education. Forgiveness now just sets up the same problem in another decade

Agree that there needs to be a broader solution, but it's a bit hyperbolic to say "there's no point in any forgiveness" without it. The people who get their loans forgiven will benefit, especially those with low balances and low incomes (where a low balance is a burden). I do think it should be for people who have been in repayment for a certain amount of time and not just everyone who happens to be in repayment right now and then nobody else.

And entering freshman who face the same situation (actually worse thanks to educational inflation) get nothing. There hasn't even been a whisper about solving that end of the problem other than empty campaign rhetoric.

$10,000 of forgiveness is something Biden can do right now. He can't unilaterally commit to forgiving incoming freshmen's debt that they haven't even accrued yet. He probably won't even be president when they go into repayment. He can't forgive everyone's loans forever or stop inflation of college tuition. I do think his administration should come up with a plan to deal with that, but it doesn't mean he can't forgive $10,000 now. It's the responsibility of Congress to come up with a longer term solution.

The department of education as well as any grant issuing arm of the government can attempt to control costs through rule making. If you tied research grants to undergraduate affordability, schools would find a way to make it happen

Fair enough but that's a great example of something that would help future borrowers but not borrowers currently in repayment. So is your issue that you only want to help future borrowers?

DP it should be obvious that a systemic fix would be far more meaningful than some useless one-off loan forgiveness. Not sure why you’re having difficulty understanding that.

Wow you are pleasant. Sounds to me like you don't understand the need to help current borrowers that are struggling.

The government isn’t your dad, there to bail you out from every dumb choice you make. You are accountable for your choices and your actions.

But my actual dad was a failure. I wasn’t born to someone wealthy and he only had an 8th grade education (got his GED in the Air Force during the Korean War). I didn’t pick my parents. Why should I suffer because they couldn’t get their sh*t together. Government should have a social safety net.

Life is unfair. Why should I pay for your stupidity? I worked my way through college and graduated with zero debt. You could have done the same but you chose to go into debt. Your problem, not mine.

Wait, who said I’m stupid? I had a full scholarship. I took out a small amount to pay for room, board, and health insurance, which I paid them off already. I fully support forgiving the debt of others, even if I don’t benefit. It will improve society. We need a social safety net for the US. There should be a safety net of some sort for those who didn’t go to college but hit hard times too.

[Anonymous]

Nobody should ever get modern cancer treatments because my grandma died of cancer with harsh and now obsolete cancer treatment. My grandma bootstrapped her way through cancer and you and your kids should too!

[Anonymous]

If I already have a college degree and want to go back at age 55 to get another degree, do you think taxpayers should pay for my loans?

[Anonymous]

Anonymous wrote:If I already have a college degree and want to go back at age 55 to get another degree, do you think taxpayers should pay for my loans?

Possibly, yes. Depends on what the degree is in and what your prior degree was.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If I already have a college degree and want to go back at age 55 to get another degree, do you think taxpayers should pay for my loans?

Possibly, yes. Depends on what the degree is in and what your prior degree was.

Interesting.

Is Biden only willing to pay debts of certain degrees?

[Anonymous]

Anonymous wrote:

Anonymous wrote:If I already have a college degree and want to go back at age 55 to get another degree, do you think taxpayers should pay for my loans?

Possibly, yes. Depends on what the degree is in and what your prior degree was.

Why does it matter was my prior degree is?

If Biden is paying off student loan debt, then I’m going back for another degree on taxpayers’ dime.

[Anonymous]

Anonymous wrote:Nobody should ever get modern cancer treatments because my grandma died of cancer with harsh and now obsolete cancer treatment. My grandma bootstrapped her way through cancer and you and your kids should too!

I know, what is with this awful American I suffered so you should too attitude? We should want things to be better and easier for younger generations.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Nobody should ever get modern cancer treatments because my grandma died of cancer with harsh and now obsolete cancer treatment. My grandma bootstrapped her way through cancer and you and your kids should too!

I know, what is with this awful American I suffered so you should too attitude? We should want things to be better and easier for younger generations.

Not just younger generation.

Anyone of any age should be able to get all student loans paid off by Biden. That’s why I’m going back for another degree (for free this time).

[Anonymous]

Nothing is going to happen. Queen Pelosi does not care about peasants and your student loans.

[Anonymous]

Anonymous wrote:Nothing is going to happen. Queen Pelosi does not care about peasants and your student loans.

Yes, she does.

[Anonymous]

Will Biden payoff student loans for Study Abroad semesters?

[Anonymous]

Anonymous wrote:Will Biden payoff student loans for Study Abroad semesters?

I hope so. That would really help me out.