Historic Student Loan Relief

[DrPepper]

I'm not looking for anything. I've gotten to live several decades blissfully with the illusion that my country was not going to collapse into civil war.

If my employer decides to start giving parents more time off with their newborns, I am not going to start picketing. I am just going to be happy for them.

[CrimsonNBlue]

how many of these student (or other) loans are compounding interest or whatever?

As in, you may end up paying more in interest than the loan was worth in the first place.

I think that's definitely part of the problem. I'm personally not ok with people having to pay $250k back for a $100k loan that was lent and serviced by the government. There are plenty of those people. I'm also not ok with people in their 50's and 60's still having to pay off education debt after decades of payments with few missed payments. Plenty of those, too.

Another issue that suggests a systemic problem is the fact that over a third of debtors don't have a bachelor's degree. As I've said, government should use their smart people to figure out how to avoid these issues.

[ousdahl]

speaking of systemic problem, how does student loans and education work in other parts to the world?

[CrimsonNBlue]

speaking of systemic problem, how does student loans and education work in other parts to the world?

There is obviously not one answer to this. In many countries, tuition is partially or fully government funded. I think in a lot of countries, the repayment is income based, and designed much better than the income-based options here. So, the risk of default is shifted to the governments, and universities won't just keep raising the cost of tuition astronomically.

And cost of living for, particularly, graduate students is a sizable portion of the US debt. Many graduate programs won't allow you to work for at least the first year. In US culture, living with parents or on the parents' dime is kind of taboo when you hit age 18. It's not like that everywhere in the world.

[ousdahl]

that's a good point about cultural differences and such.

I also saw some thing about how college tuition has gone up like 300% or something crazy over the past 3 decades, but I don't remember where it was or the exact terms

[CrimsonNBlue]

Of course we should be encouraging things like trade schools, minimum amount of academics needed for desired work industry (community college, etc.), and generally just other career paths.

But, I haven't come across a lot of parents that want to have the dumb kid at school. They're out there competing for the best preschools, kindergartens, etc. to help get in the best private elementary schools and then the best private high schools. The be-elite-at-school and pay a lot for school things are ingrained from a very early age.

[ousdahl]

It's been damn near 2 decades and who knows how many bong rips, but I kinda recall a certain stigma surrounding trade school, at least within my fam. it was college or bust.

You sort of allude to it in your post about the best private schools and such, but there's def a certain prestige and social status and stuff when it comes to education.

[RainbowsandUnicorns]

in this round of freebies, should those of us who paid off our student debt all by ourselves get something for free from our government.

Sure, why not? What would you like - and why do you feel you are deserving of it?

[Deleted User 863]

then maybe we should repo their degrees.



if you're going to repo my car.


something to think about.

could we repo the banks?

after all, didn't we bail them out too?

Do you know what would have happened if we didn't bail out the big banks?

The way you say that comment makes me think, much like your comments on PPP loans, that you don't actually understand the topic you're discussing.

[DrPepper]

30 some years ago, more of your tax dollars went to higher education. When that stopped, the bill for college went up.

[DrPepper]

Join the military for college. Many of today’s 18-year-olds could use the maturity and discipline of some military time before first year anyway (death and depression be damned).

Isnt it biblical that the children will suffer from the wrongs of their parents? Well if your parents suck at money management, being employable, keeping all of life’s financial accidents at bay, too many kids, etc, etc, then you are just stuck in podunk town.

Sidenote, the real ideal of America (as told to me by an immigrant), Is that in America you can invent yourself. You don’t have to have the same job your daddy did. You can reinvent yourself at any age too. This is not possible in all countries.

Another sidenote: Have you been on a college campus lately and seeing the number of international students? There are fewer from China and Europe, but rich kids from other places are still coming to the US. If college is only for the rich, only the rich can go. How many major companies have Indian CEOs?

[RainbowsandUnicorns]

Is the correct answer to your question - more than most people realize?

[Overlander]

then maybe we should repo their degrees.



if you're going to repo my car.


something to think about.

could we repo the banks?

after all, didn't we bail them out too?

Do you know what would have happened if we didn't bail out the big banks?

The way you say that comment makes me think, much like your comments on PPP loans, that you don't actually understand the topic you're discussing.

Fucking hilarious, considering the source

[Deleted User 863]

could we repo the banks?

after all, didn't we bail them out too?

Do you know what would have happened if we didn't bail out the big banks?

The way you say that comment makes me think, much like your comments on PPP loans, that you don't actually understand the topic you're discussing.

Fucking hilarious, considering the source

Doesn't make it any less true/valid.

But giggle away big guy.

[Overlander]

Do you know what would have happened if we didn't bail out the big banks?

The way you say that comment makes me think, much like your comments on PPP loans, that you don't actually understand the topic you're discussing.

Fucking hilarious, considering the source

Doesn't make it any less true/valid.

But giggle away big guy.

That is literally the only thing that you provide on this site. Giggle material

[Deleted User 863]

Fucking hilarious, considering the source

Doesn't make it any less true/valid.

But giggle away big guy.

That is literally the only thing that you provide on this site. Giggle material

And that is literally the only thing that you provide on this site. Pointless arguments.

[zsn]

Another sidenote: Have you been on a college campus lately and seeing the number of international students? There are fewer from China and Europe, but rich kids from other places are still coming to the US. If college is only for the rich, only the rich can go. How many major companies have Indian CEOs?

Are you suggesting that Indian-born CEOs were from rich families? Nothing could be further from the truth. They (most of them anyway) came to the US for graduate level education (mostly subsidized by US taxpayers through research grants and TA stipends) and rose up through the ranks. US-born students had exactly the same opportunity, rich or poor.

[Overlander]

Doesn't make it any less true/valid.

But giggle away big guy.

That is literally the only thing that you provide on this site. Giggle material

And that is literally the only thing that you provide on this site. Pointless arguments.

Haha…you seriously should call it a night on that one

[Deleted User 863]

You just can't help yourself.

[DrPepper]

Another sidenote: Have you been on a college campus lately and seeing the number of international students? There are fewer from China and Europe, but rich kids from other places are still coming to the US. If college is only for the rich, only the rich can go. How many major companies have Indian CEOs?

Are you suggesting that Indian-born CEOs were from rich families? Nothing could be further from the truth. They (most of them anyway) came to the US for graduate level education (mostly subsidized by US taxpayers through research grants and TA stipends) and rose up through the ranks. US-born students had exactly the same opportunity, rich or poor.

The US-born students do Not have the exact same opportunity (free STEM grad school) because they can’t afford an undergraduate degree under Mich’s plan.