Economy Studen Loan Forgiveness by EO, Biden say nope.

[Finding Deebo]

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.

I think you hit the nail on the head with this one. The issues you've addressed here are somewhat parallel to the issues plaguing the heatlh care system....

Educational Institution: Well, since loans are available we can charge what we want!
Bank: Since Educational Institutions charge so much, you need loans!

Doctors, Hospitals, Pharms, Medical Device companies: Don't worry about the price, that's what insurance is for!!
Insurance companies: Since Medical care costs so much, you need insurance!!

Notice in neither price is addressed. On a very superficial level, I like the idea of Socialized Medicine, but unless they tackle gouging in a serious manner, all it means is more cost to people already paying....

 

[Finding Deebo]

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.

Agreed, but I'm not sure you need a degree for them....

 

[hillelslovak87]

"Dear Daddy Biden,

I am your typical woke non binary self absorbed dip shit who thought it was a great idea to take lesbian tap dance theory in college. It was an expensive course but I was trying to shag all of them hawt overweight blue haired SJW females but found them to be angry and easily triggered. As such I dropped out after a few months but I still have this darn debt now and an education that doesn't lead to a career.

Could you please, you know...cancel out my financial mistakes? I swear I won't make the same mistake twice!

Sincerely,

Helicopter"

Shop your one man show somewhere else, lady!

 

[Bald1]

Agreed, but I'm not sure you need a degree for them....

Without accreditation how do you know the legitimacy of experts? I think every tidbit of knowledge should be preserved even stuff I have no use for. After all, if Suzy soccer mom wants to learn some useless craft or theory she should be set up for success in her pursuit of (to me) time wasting.

 

[Bald1]

Baffling that student loan debt is the only type of debt you can’t declare bankruptcy for

I know a businessman here in town who's abused bankruptcy laws several times and he got away with it free and clear. And he's not even Orange! It's yet another case of those with the means can find a way to abuse the system while average plebs get screwed. In this particular conversation the discrepancy bugs me more than the lack of taking responsibility for one's own actions.

 

[Finding Deebo]

Without accreditation how do you know the legitimacy of experts? I think every tidbit of knowledge should be preserved even stuff I have no use for. After all, if Suzy soccer mom wants to learn some useless craft or theory she should be set up for success in her pursuit of (to me) time wasting.

I agree with accrediation for things like STEM, finance, etc. But art is fairly subjective. I don't think Picasso or Van Gogh needed any credentials.

 

[Mcountry]

I don’t think the majority of people voted for Biden because they wanted student debt forgiveness tbh. He was just the safe option to get away from the moron killing our credibility worldwide without really changing anything. Otherwise Bernie would have won.

This is very true.

I can't tell you how much sleep I've lost wondering what that fat bitch I'm charge of germany thinks about our nation.

Lol

 

[Mcountry]

Because assets can be repossessed, your degree cannot.

The solution is to fix what allows universities to charge that much. It is not to say "cool, charge whatever you want and we'll just have the taxpayers pick up the tab".

Jordin petersen who is practically hitler of course, wanted more competition through means of line learning. Which could drive down prices if those course started gaining in popularity.

 

[nostradumbass]

Jordin petersen who is practically hitler of course, wanted more competition through means of line learning. Which could drive down prices if those course started gaining in popularity.

Online courses? Sounds just like something that would've been suggested in Germany in the 30s.

 

[Jesus H. Sherdog]

I can't tell you how much sleep I've lost wondering what that fat bitch I'm charge of germany thinks about our nation.

Lol

Yes I’m aware that you don’t understand that leaving multilateral institutions and displaying incompetence has weakened our ability to influence the world and therefore empowered China. The big winners of the Trump presidency were China, Saudi Arabia and Israel.

I’m all for nationalism, but isolationism in this interconnected world can only lead to weakness. You stay in multilateral institutions so you can influence them.

 

[JSN]

Because assets can be repossessed, your degree cannot.

The solution is to fix what allows universities to charge that much. It is not to say "cool, charge whatever you want and we'll just have the taxpayers pick up the tab".

keep in ind though that bankruptcy keeps your assets from being repossessed despite your outstanding debts.

But agreed that the system is fundamentally more flawed and a simple bailout would not be a good policy.

 

[Bald1]

I agree with accrediation for things like STEM, finance, etc. But art is fairly subjective. I don't think Picasso or Van Gogh needed any credentials.

We're probably going to disagree here, but this particular part of the conversation is pretty low on the priority scale in my view, so all good.

All in all, it's good to see most people at least acknowledging the fact that there's something rotten in Denmark.

 

[Finding Deebo]

We're probably going to disagree here, but this particular part of the conversation is pretty low on the priority scale in my view, so all good.

All in all, it's good to see most people at least acknowledging the fact that there's something rotten in Denmark.

Respect....

 

[Lead]

He already signaled he wasn’t for that proposal. He’s been pushing for something at 10k at most and originally tied it to public service. Even when Schumer and Warren tried to bring it back up, he referred to the 10k again.

 

[Big Nasty Edison]

Wait I thought he was a socialist!?!?!

 

[Lead]

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.

There needs to be a solution for costs side first. Addressing mass forgiveness first is only going to escalate the problem imo. I think they should begin considering tying loan performance to the institutions, looking at defaults over time and possibly tying the loan to a certain percentage of their income. Still reading into it but there needs to be more accountability on the university that they are selling something that backs what they charge.

 

[HereticBD]

I love how he's already tired of the balancing act of trying to appease insane leftists before he's even in office.

You go, Biden. Send the children to bed.

 

[ElKarlo]

Yeah, I don't think there's an easy solution.

But then how to reset the system?

good question. Reform is definitely needed for multiple reasons. Maybe start at one small University and radically redo it, and then see what worked and learn from that?
I think micro schools is the way to go. With technology you don't need to cram thousands of students in massive campuses. It just doesn't make sense at all for so many reasons from inefficiencies to the fact that we don't work in massive factories with 5k employees.

 

[High Altitude]

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?

You're right, it would be a huge pill to swallow for lots of people. I don't think there is an easy way to do it. Probably would phase it in over time. Certain percentage per year qualifies, and it increases every year until 100% of the loan qualifying for bankruptcy.

 

[ElKarlo]

Wait I thought he was a socialist!?!?!

No. He's s corporatist and like Obama papers over that with divisive social justice nonsense, as long as it's free.