Student loan collections start tomorrow

[Anonymous]

I finished paying mine last year, so I was getting billed again. But I'm curious to know whether programs that allowed people to pay based on their income with forgiveness after 25 years still exist.

I know women whose education and work have been derailed by abusive marriages and relationships, who have really struggled with the student loan thing, And a guy whose ex wife got her huge law school loans consolidated with his small tech school loans back when that was a thing, then divorced him, and no longer works as a lawyer--and he is stuck with her debt even though the divorce terms required her to pay.

[Anonymous]

Anonymous wrote:They should start by publishing the colleges with the most outstanding debt.

I don't know the numbers, but there are huge problems with for-profit schools when you consider lower income students. They may rely on those because online courses allow them to work (and take care of families in many cases). The best of them are ok, it appears (I know people who have used them to transition from blue collar factory or restaurant/bar server jobs to professional jobs) but some are known for abusive practices (and sanctioned by DoE in the past--probably nobody will pay any attention now) and for many others what the see as a lifeline to success turns out to be a frayed piece of twine.

I'd like to see in depth research and a detailed breakdown of who owes money, what schools they attended, whether they worked during college (working students have a lower graduation rate and take longer to graduate if they do graduate), etc.

[Anonymous]

Anonymous wrote:Some countries believe educating their people is an investment in its future prosperity and well being. America believes it’s an opportunity to profit off the success or, more likely failure, of discrete individuals.

If you’re wondering why our best and brightest are going to work for Wall Street instead of curing childhood cancer, just look at the incentives we’ve created. Without the steady flow of foreign Ph.Ds who got their undergrads for free and can afford to tough it out on grants, our domestic R&D industry is going to be wrecked. So much for America First.

Beyond diplomacy, how has hiring foreign PhDs helped domestic PhDs who got passed over for jobs but graduated from the same universities? In Europe, that would not happen.

[Anonymous]

Anonymous wrote:Why should he be forgiving loans?

Why did Trump's family get pandemic money for their "businesses"? I didn't get a dollar.

[Anonymous]

Anonymous wrote:

And at least America benefits from having an educated workforce.

The people who took out loans have already been educated. Cancelling those loans (by forcing the taxpayers to subsidize them) does not give us any more educated people.

If the goal is to improve access to education, it would make more sense to collect on the loans and spend the money that would have gone toward "forgiving" (subdizing) them on making education available to more people in the future.

Heartless MAGAs like you are why we have t-rump now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Some countries believe educating their people is an investment in its future prosperity and well being. America believes it’s an opportunity to profit off the success or, more likely failure, of discrete individuals.

If you’re wondering why our best and brightest are going to work for Wall Street instead of curing childhood cancer, just look at the incentives we’ve created. Without the steady flow of foreign Ph.Ds who got their undergrads for free and can afford to tough it out on grants, our domestic R&D industry is going to be wrecked. So much for America First.

Beyond diplomacy, how has hiring foreign PhDs helped domestic PhDs who got passed over for jobs but graduated from the same universities? In Europe, that would not happen.

How many domestic Ph.Ds in STEM do you think we have? And of those, how many go into research work? I’ll tell you - not nearly enough.

[Anonymous]

The colleges with the most student debt are Alabama State, Jackson State, Colorado Technical, Southern University and A & M College, and Texas Southern University.

It seems to me these colleges are preying on black students.

I'm not sure why people at large in America need to fund this financial abuse. These schools wouldn't exist without the rest of us funding this garbage. And we really need to add financial literacy as a high school requirement.

[Anonymous]

The answer of course would be to make the land grant universities affordable again. Cut the admin and the sports teams and focus on education.

[Anonymous]

Loan forgiveness should lead to government collecting more interest from new loans. Obviously there is higher risk than originally calculated.

They can adjust the interest rate based on college attended, major, and grades.
If you are going to a college where more students default on loans, you pay a higher rate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why should he be forgiving loans?

Why should people have to take out massive loans just to get an education in the first place?

I disagree with Trump on more or less everything, but shouldn’t that all depend on what students decide to study? I’ll gladly subsidize more doctors or teachers in rural communities no one wants to work in, but not let’s say, a $60k per year degree in underwater basketweaving from a private college.

[Anonymous]

Anonymous wrote:The answer of course would be to make the land grant universities affordable again. Cut the admin and the sports teams and focus on education.

Exactly. For every student who cares about building a multimillion dollar football stadium or even bothers to attend a single game, there are 10 who don’t give a hoot about a new stadium.

[Anonymous]

Anonymous wrote:

Yet we should be expected to subsidize big corporations and billionaire tax cuts?

No, I don't think that we should be doing that, either.

But, in those cases, there is nothing to be repaid because no one agreed to repay anything. Those were giveaways from the start.

Yep. Billionaires don’t have bootstraps to pull themselves up by? 😂

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why should he be forgiving loans?

Why should people have to take out massive loans just to get an education in the first place?

I disagree with Trump on more or less everything, but shouldn’t that all depend on what students decide to study? I’ll gladly subsidize more doctors or teachers in rural communities no one wants to work in, but not let’s say, a $60k per year degree in underwater basketweaving from a private college.

You're never going to get more doctors or nurses because the number of slots to educate them is purposely throttled to prevent over-supply. Their trade organizations want shortages of doctors and nurses!

This is the reason why some American students go to study medicine in the Caribbean and why we import doctors and nurses from Eastern Europe, Africa, and the Philippines.

Further, residency positions are funded by the federal government and have long lagged the rate of population growth since the 1980s.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some countries believe educating their people is an investment in its future prosperity and well being. America believes it’s an opportunity to profit off the success or, more likely failure, of discrete individuals.

If you’re wondering why our best and brightest are going to work for Wall Street instead of curing childhood cancer, just look at the incentives we’ve created. Without the steady flow of foreign Ph.Ds who got their undergrads for free and can afford to tough it out on grants, our domestic R&D industry is going to be wrecked. So much for America First.

Beyond diplomacy, how has hiring foreign PhDs helped domestic PhDs who got passed over for jobs but graduated from the same universities? In Europe, that would not happen.

How many domestic Ph.Ds in STEM do you think we have? And of those, how many go into research work? I’ll tell you - not nearly enough.

Even people with Masters and Bachelors get passed over. Some of the issue is related to lack of interest from domestic students, some of it is due to the dismantling of K-12 education over the past 30 years (ans gets worse with each passing year like it’s intentional and probably the biggest issue), and among those who do get STEM degrees there is a bias / incentive to bring in foreign professionals for diplomatic reasons. Don’t get me wrong, immigration is a good thing but just like immigrant farm workers, these foreign professionals especially from poorer countries get exploited too (eg, not offered same pay).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Well, why do rich people and corporations get giveaways while low income and middle class students have to take out loans?

That is a question worth asking, but it doesn't change the fact that people who took out student loans agreed to repay them.

What's your answer then? Only the rich and corporations should get free taxpayer money?

It sounds like you want low and middle income people to pay for your college education.

Considering the lifetime earnings of someone like you with a degree versus those grubby uneducated knuckle dragging taxpayers, you should be embarrassed for even asking.