Elizabeth Warren Attempting to immediately eliminate student loan debt for 45 million Americans.

[iamdef]

I see the logic for having a new measure to wipe out the debt in one fell swoop, but I do agree this this doesn’t prevent the same problem from rearing its ugly head in the future if there aren’t measures to make college more affordable.

I think what's necessary to prevent this from repeating is informing the public that college is not the only after high school route. We've been fed, "Go to college after you graduate" so much that it's like the only acceptable option

 

[americangenius]

I think what's necessary to prevent this from repeating is informing the public that college is not the only after high school route. We've been fed, "Go to college after you graduate" so much that it's like the only acceptable option

Discussed in another thread, the only thing needed is for government to stop guaranteeing student loans. The only reason tuitions are so high is because banks can loan 100s of thousands of dollars to teenagers at zero risk.

 

[nawghtyhare]

Discussed in another thread, the only thing needed is for government to stop guaranteeing student loans. The only reason tuitions are so high is because banks can loan 100s of thousands of dollars to teenagers at zero risk.

or how about lowering the cost of higher education

 

[americangenius]

Same ones footing the bill for everything else
Which by now folks should be used to
And not even ask

Exactly. Stupid *** question

 

[pdoggy85]

Seems like the income to debt ratio based on what I read.

If you make under $100K annually, you’d get $50K worth of loan debt forgiven. Upward of $100K gets you $25K forgiven. Over $250K, nothing’s forgiven.

But agreed. I’ll believe it when I see it. Legislation gets shot down every day, b.

So basically the people who should have went to college, worked hard, and earned a ton of money from it get nothing forgiven, but the lazy folks who never should have been there in the first place get a do-over? And I get to pay for it even though I paid off my loans like I promised I would? No thanks.

 

[americangenius]

or how about lowering the cost of higher education

Why would schools lower their prices if people are able to pay it? As long as people can borrow without limits, they will continue to raise prices.

 

[americangenius]

Edit, double

 

[getback]

or how about lowering the cost of higher education

Add healthcare to that list. S**t is obnoxious.

 

[nawghtyhare]

Why would schools lower their prices if people are able to pay it? As long as people can borrow without limits, they will continue to raise prices.

cause apparently people arent able to pay

 

[Fozz]

That would be sweet if my student loans were paid off.

 

[Top Boy]

I used maybe 1-5% of what I learned in higher ED in any corresponding job I've had.

Preach. I was STEM so the programming/networking classes I took were definitely useful.

the other 85% of my education was not. I would have no student loans if I could remove that useless 85%.

Made it hard to motivate myself through those trash classes

 

[bigpat630]

This retroactive?

I just paid off my student loan earlier this year. Took me damn 10 years.

 

[wr]

What if schools been raising prices because they knew incoming tech would render them obselete in educating people.They tryna cash out on society and go back to the plantations they started out as.

 

[americangenius]

cause apparently people arent able to pay

As long as they can borrow, people will continue to buy things they can't afford.

 

[americangenius]

So basically the people who should have went to college, worked hard, and earned a ton of money from it get nothing forgiven, but the lazy folks who never should have been there in the first place get a do-over? And I get to pay for it even though I paid off my loans like I promised I would? No thanks.

I feel like if private banks and failed car companies got bailed out with our money to get a do-over, why can't students?

 

[VARNELL HILL]

So basically the people who should have went to college, worked hard, and earned a ton of money from it get nothing forgiven, but the lazy folks who never should have been there in the first place get a do-over? And I get to pay for it even though I paid off my loans like I promised I would? No thanks.

 

[pdino]

10 years ago we use our $ to bail out banks. I never got repaid. But, when it comes to paying off our own.. I doubt it'll pass.

My mortgage - 3.5% with mortgage interest and property tax tax deductible.
My student loans - 6.8% after I refinanced and consolidated. None is tax deductible for me.

 

[nawghtyhare]

10 years ago we use our $ to bail out banks. I never got repaid. But, when it comes to paying off our own.. I doubt it'll pass.

My mortgage - 3.5% with mortgage interest and property tax tax deductible.
My student loans - 6.8% after I refinanced and consolidated. None is tax deductible for me.

 

[boris]

ok, who's footing da bill for da borrowers?

Dunno maybe instead of handing rich people more money that they don't need we can help the average American.

 

[Top Boy]

So basically the people who should have went to college, worked hard, and earned a ton of money from it get nothing forgiven, but the lazy folks who never should have been there in the first place get a do-over? And I get to pay for it even though I paid off my loans like I promised I would? No thanks.

"lazy folk"

I was working 40+ hours a week and taking 12-15 credit hours every semester

Vapid statement

 

[Majorbread]

What about medical bill debt tho??

 

[$tacy]

I got like 6k I owe. If she can get that to 3 she got my vote

 

[denni5themenace]

"lazy folk"

I was working 40+ hours a week and taking 12-15 credit hours every semester

Vapid statement

Come on. Pull yourself up by your boot straps!

 

[runyc]

Discussed in another thread, the only thing needed is for government to stop guaranteeing student loans. The only reason tuitions are so high is because banks can loan 100s of thousands of dollars to teenagers at zero risk.

This. Also, government-backed student loans make it safer for private lenders since the gov't is typically paid off last. I do think income-based repayment strategies are interesting and generally think they are a better value proposition for students who are earning less than $70K after school.

cause apparently people arent able to pay

The school is still getting paid - just like the seller of a home gets paid when you take out a mortgage. The bank/lender is who takes the risk, schools have little reason to stop raising prices unless lenders change their behavior.

 

[wayniac211]

As long as they can borrow, people will continue to buy things they can't afford.

SN to post astounding