Reply to any cons in suspended student loans debt?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How about a middle ground. Pay back your loans but make it interest free. People should pay back what they take out, not pay back three times what they take out even when faithfully making monthly payments. [/quote]

What happens to the bond funds holding these student loan asset backed securities? A lot of retirement funds hold these securities.[/quote]
And what happens to the next group of students who wants to take out a loan but no one will lend to them because there’s no profit incentive to take that risk?[/quote]

Dp- well hopefully the next group will have fewer students.
College isn’t for everyone. We need to shift back to trade schools and industry trained workforces.
Also: maybe colleges wouldn’t be able to demand so much for tuition. The price of college has skyrocketed because of all the free money.[/quote]

Well, I think we have our answer then.

Set all existing and future loans at 0% interest active immediately.
The current generation of borrowers will have relief and light at the end of the tunnel.

The next generation will be spared the crisis, as lenders won't be so predatory to unsuspecting 18-year-olds, and in turn colleges will be forced to lower their tuitions. Meanwhile, more students will learn from the crisis of their older brothers and sisters and consider other options unlike what parents in the 1990s did, which is say that college was everything and that if you didn't go to college, your career would be at McDonalds.

I'll also add in the mix that [b][i]financial literacy must be taught in schools![/i][/b] I hate the argument that it's parents' responsibility. In a perfect world, sure, every parent will be able to inform their children about saving, balancing a budget, loans, and investing. But why perpetuate class structure and poverty? If a child's parents happen to lack financial skills, why should the child inherit the disadvantage with respect to her peers? Financial education from an early age would level the playing field and be a great equalizer for a true meritocracy.[/quote]

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