Economy Studen Loan Forgiveness by EO, Biden say nope.

This is kind of how I feel about it. Anyone who's attended University in the last 10 years should be aware of the concerns with taking out these loans at this point. My neigbhor's kid got a loan and the financing company made him take some sort of webinar on the risks prior to getting the loan.
I agree that student debt should be BKable like most other loans, but until that happens, everyone knows what they are getting into when they sign on the bottom line.

Don't want to be saddled with debt that can't be bankrupted out, don't get a student loan.
 
What do guidance counselor advise?
Hell if I know, I went to high school in the hood albeit in a very good public education program. Essentially my guidance counselor told me not to get a girl pregnant, bring a gun to school, or bring a sharpened pool cue to a gunfight off school property.
 
I'm far from a leftist, but looking into an overhaul of the student loan system in the US seems to be in order. There's something wrong if a billionaire can declare bankruptcy several times after taking calculated risks with a known way out, but dumbass decisions in your late teens can saddle you with dept for a lifetime.
I agree definitely need to reorganize colleges. That said forgiving debt is like giving someone Tylenol for a fever. It's a symptom and doesn't address all the reasons why college is so expensive and why people who don't need college are pushed into going.
 
Imagine if there were a republican president in the modern era who could get elected and was as far from the right as Biden is from the left. Sadly, it only works one way in this two party system.

And yet republican dipshits will still cry and moan and call Biden a radical socialist.
 
I'm curious, when kids are signing up for these loans, where are the parents to tell them whether or not it's a good idea based on their projected major? Also, don't they have to get cosigners that are often parents? I'd think if that's the case they'd come in and pump the brakes. I got loans for the first 1/2 of my university years but for the life of me can't remember if I had a co-signer or not....
well, if you don't have a graduate degree, and you have racked up 50k of student debt. Then you were fucking lazy as shit and wanted to do what your friends were doing even though it wasn't viable. These people are the ones that had shit ass grades and couldn't even qualify for the smallest scholarships.

If I could qualify for something like 90% tuition, with a 3.1-3.2 cumulative GPA with a bunch of C's, and I consider myself to be probably one of the laziest humans in the existence of man kind. Then I don't know what the fuck these people do with their lives that lead them into these situations involving massive amounts of debt.
 
I'm curious, when kids are signing up for these loans, where are the parents to tell them whether or not it's a good idea based on their projected major? Also, don't they have to get cosigners that are often parents? I'd think if that's the case they'd come in and pump the brakes. I got loans for the first 1/2 of my university years but for the life of me can't remember if I had a co-signer or not....
I've thought about a scaled loan system based on projections of income and career viability. I'm sure there are holes to be poked in that idea, but degrees in esoteric fields without real world applications could be viewed as a sort of "luxury certs" and treated as such. Then again, this conversation is out of my wheelhouse, so what do I know?
 
The thing that gets me most about the trap is that there's so many jobs requiring a degree to apply that require nothing of the sort in practice. It's a credentialist, pay-to-play system that makes some feel the need to get a degree regardless of its actual applicability.
 
Imagine if there were a republican president in the modern era who could get elected and was as far from the right as Biden is from the left. Sadly, it only works one way in this two party system.

And yet republican dipshits will still cry and moan and call Biden a radical socialist.

It seems to me you lived your life like a candle in the wind...
 
I'm curious, when kids are signing up for these loans, where are the parents to tell them whether or not it's a good idea based on their projected major? Also, don't they have to get cosigners that are often parents? I'd think if that's the case they'd come in and pump the brakes. I got loans for the first 1/2 of my university years but for the life of me can't remember if I had a co-signer or not....

The parents got their college degrees for a few thousand per semester year vs. tens of thousands.

So they have a skewed point of when it comes to the risks.
 
I agree that student debt should be BKable like most other loans, but until that happens, everyone knows what they are getting into when they sign on the bottom line.

Don't want to be saddled with debt that can't be bankrupted out, don't get a student loan.
I'm not going to disagree with this, but at the point of implementation there will be people saying how unfair it is to those under the old system. Not like this could be done retroactively in any fair manner, so how to take the next step?
 
I've thought about a scaled loan system based on projections of income and career viability. I'm sure there are holes to be poked in that idea, but degrees in esoteric fields without real world applications could be viewed as a sort of "luxury certs" and treated as such. Then again, this conversation is out of my wheelhouse, so what do I know?
I like your line of thinking, but I'm wondering if not doing the opposite would be better. That is to say, for fields where we as a society need people (STEM, doctors, finance, etc.) we make schooling easier to finance. If someone has the money and wants to learn about Comparative Asian Anal Massage, well more power to them...
 
I agree definitely need to reorganize colleges. That said forgiving debt is like giving someone Tylenol for a fever. It's a symptom and doesn't address all the reasons why college is so expensive and why people who don't need college are pushed into going.
Yeah, I don't think there's an easy solution.

But then how to reset the system?
 
I like your line of thinking, but I'm wondering if not doing the opposite would be better. That is to say, for fields where we as a society need people (STEM, doctors, finance, etc.) we make schooling easier to finance. If someone has the money and wants to learn about Comparative Asian Anal Massage, well more power to them...
That's what I was getting at. The more likely your degree is to contribute to the betterment of society the lower the fee. Something along those lines.

You want to study lesbian dance theory? There's fewer available loans, or at higher rates, or under special terms.

Having said that, a society without arts or culture is a bland one devoid of soul.
 
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