Go away. Your act is past the freshness date.
And leave society to you mental midgets?
Only a retard like yourself can look at America and not see anything wrong.
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Go away. Your act is past the freshness date.
So your only two options in life were to go to the law school you did or dig ditches?So much ignorance in this thread. Every person over 40 thinks this is simply "I worked hard and paid for it myself, so should they!" But they ignorantly fail to accept that if they did exactly the same thing today as they did in their day, they'd be saddled with debt for 20 years, because it costs 10X as much. My wife worked full time as a manager at Starbucks while going to undergrad. 9 years later she still owes $40k. I got through undergrad without any debt, then went to law school, worked in public service for 6 years before going private, and owe $30k MORE today than I did when I graduated. I was making payments on those loans all that time, but they don't even keep up with the interest. Now that I'm private sector, I'm getting back ahead, but I'll end up paying over $300k for law school.
Now of course you can say I made that choice, and that's true. But the point is the system became broken because of stupid government decisions (longer discussion, but essentially unlimited money being given out without any regulation on schools meant they would all jack up tuition to pay for their arms races), so our generation was left with two choices: (1) do what you actually want with you life and incur unending debt, or (2) do some job you'll hate. Great choice. Really bold for all the folks here who want to say "go dig ditches" when they didn't get screwed by the stupid decisions of prior generations that led to the inflated tuition, so they could actually choose to do what they wanted with their life without it burdening them with an additional mortgage for 20 years.
If approved will the government be paying for just a bachelor degree or will they also be required to pay for Master's Law School, etc.? Why should some kids be forced into spending the rest of their lives unsatisfied with just a Bachelor's degree.
Life isn't a picnic and most of us don't get to do what we want to do because we do what we have to do for ourselves and our family.
During WW2, my uncle chose to join the Army in 1944 because his other choice was to continue mining coal with a pick and shovel, mostly on his knees. He had sh1tty choices, made one, and lived life.
My heart bleeds for those poor students and how tough they had it. They were not forced to make that choice and it isn't because someone else screwed up the system, but rather because life isn't always fair or just or comfortable. Tough. This country guarantees opportunity, not success; and certainly not success at the expense of others that didn't make the same bad decisions as you might have.
I wanted a house but that came with taking on massive debt. Renting apartments would leave me unsatisfied in life. Where is my help to eliminate my mortgage payments?
Student loan debt was exempted from bankruptcy protection when the Clinton Administration and the Democratic Congress re-wrote bankruptcy legislation in 2005. Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which made it so that no student loan — federal or private — could be discharged in bankruptcy unless the borrower can prove repaying the loan would cause “undue hardship,” a condition that is incredibly difficult to demonstrate unless the person has a severe disability. That essentially lumps student loan debt in with child support and criminal fines — other types of debt that can’t be discharged.
College is an investment in your future - not a right.
Would you invest $100,000 for something that won't ever provide the return on investment? Alot of this generation (and quite a few when I was in school) don't think of things like this. They see college is 'free' - since the payback is years into the future and don't comprehend what they are getting into.
I get the point of choosing between what you love to do and a career that will be financially rewarding - I get that it is a hard choice. I had to make the same choice - and while I don't love my career - there are things that make me enjoy it some - but I ensure my Out of work life is that much better to offset it.
It isn't black/white. If you want to be in a 'rewarding' industry that doesn't pay much - go to less expensive schools, or try to get into the field via alternate routes (apprenticeship/etc).
Again I get how tough it can be to choose between fields - but at the same time - the student made a choice to take on debt that would be tough to pay back. It was a bad choice and personal accountability needs to come into play at some point.
Now can we fix the system - and make it better - yes. I am for fixing interest rates to be very low, or capping the interest to a certain amount, and allowing students to lengthen the period to repay loans (I was 10 years in and refinanced to lock in a 1.4% rate over 20 years - so i will be paying for my loans for a total of 30 years - but i can't beat the rate) and stuff to enable some relief from this.
However - just erasing the debt - that is possibly the worst idea. What about the students before them, or the students after - why just a subset. Won't this encourage more bad behavior? It won't teach fiscal responsibility - which needs to be addressed.
Wiping the debt clean doesn't address the problems - just currently treats the symptoms.
I love that people blame the Baby Boomers for everything (I am not a baby boomer). Yes some in that generation contributed to the issues today - but many did not.
The issues with student loans are caused by
1) Government stating you can't discard SLs via bankruptcy (i get the theory) which allowed many lenders to not care how much students were borrowing because they new they'd get it back
2) Universities becoming bloated with Admin and building, and arms races - with all this guaranteed income
3) Students not understanding finances. They don't pay for college so don't truly grasp the cost - the tuition, room and board, etc are monopoly money. I have met people (both when i was in school and recently) who purposely borrow more money for school so they can 'have fun'. I am not talking tuition, room/board, fees, books, etc - I am talking bar money, shopping money, etc. They don't realize or care that the $5 beer they are buying will cost them $20 to repay.
4) Students not being honest about return on investment. Taking $100,000 loans to major in something that will earn $25 k to start and max out at $75 k isn't a good investment.
Erasing their debt - is rewarding bad behavior. If I were to invest $100k in a very risky stock that goes under the next day - can I get rewarded by getting my cash back because I made a bad choice?
You have such a myopic view of things!
Every one of your talking points boils down to one thing. The progressive movement.
Woodrow Wilson is responsible for the federal reserve, the income tax and (the most overlooked, IMO,) the popular election of senators.
FDR is responsible for social insecurity and the tying of health insurance to our employer.
LBJ is responsible for Medicare.
Obama set in motion the nationalization of 20% of the economy though Obamacare.
Sure, there were unprincipled swamp dwellers, like W and his father, but every economic and societal problem we now have has its roots in the progressive movement.
And the reason you can't grasp this is because you were educated in a system that has been overrun by progressives and you get your news from a media that has no objectivity at all.
So your only two options in life were to go to the law school you did or dig ditches?
Right
I don't know about the affordability of the Warren plan but there surely would be huge benefits to society if applicants to colleges were chosen based solely on merit rather than ability to pay. We already have a somewhat inefficient "socialistic" system in that those who can afford to pay subsidize those who can pay some and those who can't pay any may be left out.College is an investment in your future - not a right.
Would you invest $100,000 for something that won't ever provide the return on investment? Alot of this generation (and quite a few when I was in school) don't think of things like this. They see college is 'free' - since the payback is years into the future and don't comprehend what they are getting into.
I get the point of choosing between what you love to do and a career that will be financially rewarding - I get that it is a hard choice. I had to make the same choice - and while I don't love my career - there are things that make me enjoy it some - but I ensure my Out of work life is that much better to offset it.
It isn't black/white. If you want to be in a 'rewarding' industry that doesn't pay much - go to less expensive schools, or try to get into the field via alternate routes (apprenticeship/etc).
Again I get how tough it can be to choose between fields - but at the same time - the student made a choice to take on debt that would be tough to pay back. It was a bad choice and personal accountability needs to come into play at some point.
Now can we fix the system - and make it better - yes. I am for fixing interest rates to be very low, or capping the interest to a certain amount, and allowing students to lengthen the period to repay loans (I was 10 years in and refinanced to lock in a 1.4% rate over 20 years - so i will be paying for my loans for a total of 30 years - but i can't beat the rate) and stuff to enable some relief from this.
However - just erasing the debt - that is possibly the worst idea. What about the students before them, or the students after - why just a subset. Won't this encourage more bad behavior? It won't teach fiscal responsibility - which needs to be addressed.
Wiping the debt clean doesn't address the problems - just currently treats the symptoms.
I love that people blame the Baby Boomers for everything (I am not a baby boomer). Yes some in that generation contributed to the issues today - but many did not.
The issues with student loans are caused by
1) Government stating you can't discard SLs via bankruptcy (i get the theory) which allowed many lenders to not care how much students were borrowing because they new they'd get it back
2) Universities becoming bloated with Admin and building, and arms races - with all this guaranteed income
3) Students not understanding finances. They don't pay for college so don't truly grasp the cost - the tuition, room and board, etc are monopoly money. I have met people (both when i was in school and recently) who purposely borrow more money for school so they can 'have fun'. I am not talking tuition, room/board, fees, books, etc - I am talking bar money, shopping money, etc. They don't realize or care that the $5 beer they are buying will cost them $20 to repay.
4) Students not being honest about return on investment. Taking $100,000 loans to major in something that will earn $25 k to start and max out at $75 k isn't a good investment.
Erasing their debt - is rewarding bad behavior. If I were to invest $100k in a very risky stock that goes under the next day - can I get rewarded by getting my cash back because I made a bad choice?
How did our trillion dollars + investment in the F35 work out? I guess if money gets boondoggled through military complex with 0 accountability then a-ok. Investment to assist with atrocious, predatory, inescapeable student debt? Socialism!
2019
Average Price of a New Car: $37,577
Average Student Loan Debt: $37,172
https://mediaroom.kbb.com/2019-01-0...owth-Since-2013-According-to-Kelley-Blue-Book
https://www.nitrocollege.com/research/average-student-loan-debt
Exactly how would this subject be discussed without it becoming political? The root of it goes to the role of government, whether that is as part of the cause or as part of the solution. I would argue there is no way to discuss it without it becoming political.
Before then. But which administration gutted the Consumer Finance Protection Bureau charged with protecting students from bad/predatory loans and loan managers? And who could hold companies like Navient accountable when they purposefully steered students eligible for the public service debt forgiveness program away from it?
A properly educated person should be able to state the pros and cons of the issue and not just make political statements up front on which to base their judgments. Also, a properly educated person should realize there are benefits of education, both societal and individual, beyond mere ticket-punching.Exactly how would this subject be discussed without it becoming political? The root of it goes to the role of government, whether that is as part of the cause or as part of the solution. I would argue there is no way to discuss it without it becoming political.
I agree that more needs fixed. It has to be a complete overhaul if any debt is to be forgiven at all, or else we're right back here again in a few years. So yes, I agree.
I just disagree there was a true choice. Prior generations could go to college for what area they wanted to spend the rest of their life without having to be in debt for 30 years. Why is this generation not afforded that same opportunity when it's the prior generations that screwed that up for them? They screwed it up, the put an entire generation into unbearable debt just for making the same decisions they made about their educations 30 years earlier. Why shouldn't they pay for those mistakes? Why is the next generation responsible for it? Because they all should've realized the prior generation screwed it up and become plumbers instead? A whole generation of nothing but tradesman doing something they hate because their parents' generation were idiots. Ridiculous.
You may have an argument about the F-35. But here's the thing. Defending this nation's sovereignty is a constitutional mandate. Creating an unlimited pile of money for student loans is prohibited by the constitution.
I'm also a conservative and former libertarian who has voted for nothing but republicans my entire life, yet I'm arguing the other side. I argue it, despite being against my own party, because (1) I see it's effect first hand among all my peers, and (2) I believe the fallout is going to devastate our economy in the future.
So everyone who graduated in 1960-2000 and paid off their debts in 3 years can puff their chest about how hard they worked and "kids these days are lazy and made bad choices" and all that ignorant BS, but it doesn't change the fact that prior generations caused this debt for millenials by refusing to take control of the unregulated money going to schools, and this debt will cripple our country in the future if nothing is done. If you're fine with our economy crumbling because of your generation's allowing this tuition situation to occur, fine.
I don't know about the affordability of the Warren plan but there surely would be huge benefits to society if applicants to colleges were chosen based solely on merit rather than ability to pay. We already have a somewhat inefficient "socialistic" system in that those who can afford to pay subsidize those who can pay some and those who can't pay any may be left out.
PS: Perhaps the least practical part of her plan seems like the tax on wealth. How do you even start to reliably measure that? i can imagine the schemes diverted from productive enterprise to accountants and lawyers to underestimate it.
I'm also a conservative and former libertarian who has voted for nothing but republicans my entire life, yet I'm arguing the other side. I argue it, despite being against my own party, because (1) I see it's effect first hand among all my peers, and (2) I believe the fallout is going to devastate our economy in the future.
So everyone who graduated in 1960-2000 and paid off their debts in 3 years can puff their chest about how hard they worked and "kids these days are lazy and made bad choices" and all that ignorant BS, but it doesn't change the fact that prior generations caused this debt for millenials by refusing to take control of the unregulated money going to schools, and this debt will cripple our country in the future if nothing is done. If you're fine with our economy crumbling because of your generation's allowing this tuition situation to occur, fine.
I don't get blaming the generation. It was the college administrators and politicians that screwed it up. Policies introduced (usually by the left) to try and fix things that weren't broken have broken things.
60 years ago - people couldn't afford college - so they joined the military which then paid for college (with GI bills).
Yes today - it is unfair to some extent that college is expensive - but if you are studying something that won't pay the loans - work to lower the loans. Join the Military for 4 years which will pay a good chunk of your tuition. Go to community college for 2 years and transfer credits. There are many options available that require some sacrifice - but kids don't want to do that. They want to go to the prestigious, expensive university and major in something that will better the world with no regard for how it will play out. We should not be rewarding these kids who aren't willing to make some sacrifices themselves.
It's not about unlimited money, at least not for me. College should cost you something. It's just that prior generations allowed the lending to be uncontrolled, so colleges jacked up tuitions (of course, if you're told your business can sell 10 widgets for $10, or the same 10 for $10,000 and demand doesn't change, you will charge more). If anyone in government had the testicular fortitude to do what's right instead of what feels good, they would've told colleges they only get federal funding it tuition increases follow national inflation. They didn't, they just let it go nuts, and a left a generation riddled with a lifetime of debt just for going to college.
I appreciate your enlightened views on the subject.I'm also a conservative and former libertarian who has voted for nothing but republicans my entire life, yet I'm arguing the other side. I argue it, despite being against my own party, because (1) I see it's effect first hand among all my peers, and (2) I believe the fallout is going to devastate our economy in the future.
So everyone who graduated in 1960-2000 and paid off their debts in 3 years can puff their chest about how hard they worked and "kids these days are lazy and made bad choices" and all that ignorant BS, but it doesn't change the fact that prior generations caused this debt for millenials by refusing to take control of the unregulated money going to schools, and this debt will cripple our country in the future if nothing is done. If you're fine with our economy crumbling because of your generation's allowing this tuition situation to occur, fine.
Why is this generation not afforded that same opportunity when it's the prior generations that screwed that up for them? They screwed it up, the put an entire generation into unbearable debt just for making the same decisions they made about their educations 30 years earlier.
You take the money out of the economy one way or another. The government either raises taxes to cover it, which removes money from the economy; pays for it through raising the national debt which will eventually be paid back either with interest or through inflation; or saddle the loan makers with eating the losses if they aren't the government. At this point the only question is what part of the economy the money comes from, not whether the money comes from the economy or not. Money spent is money spent.
If you want to pay off everyone's college debt, then make a similar payment to those that paid off their debt themselves and those that didn't take on the debt in the first place and didn't benefit from a degree. Otherwise you are just taking from everyone to pay a benefit to people that already got one - a college degree.
With an average student debt of $37,000, why do you keep stating that half of the population will have $1K in payments?
Because it's a little complicated and you probably wouldn't understand it anyway, like most absolutist statements, that is not necessarily true.Government intervention in the free market, no matter where, creates inflation.
We took the classes, majors, and worthless degrees sold to us and setup by the miserable/greedy old bastards from your generation.
Why not admit that miserable old f u c k s like yourself are solely responsible for today’s student lending climate?Why not take responsibility for your own actions and look out for yourself. There is no reason to believe everything you are told. I certainly have never done so.
When I was younger I transferred from UCSB to Bowling Green, and I made the conscious choice to leave California because I thought it was too expensive. Even though I can afford much more and could pay cash for a new car, I currently drive a 17-year-old Honda Accord.
You miserable young f*cks are babies too lazy to take responsibility for your actions. Also, if you want to blame someone, blame the Leftist PC universities, which have profited off of young, immature students.Why not admit that miserable old f u c k s like yourself are solely responsible for today’s student lending climate?
This doesn't take money from anyone, it eliminates money owed to the government.
Fortunately you all will be dead in 20 years. Then “we” can balance social security and fix problems without curmudgeons in our way.You miserable young f*cks are babies too lazy to take responsibility for your actions.
You are arguing the point because you are up to your a$$ in debt.
"All of your peers" average $37K in college debt -- which isn't really that much in grand scheme of things.
As a former libertarian, can't you see there's no place in the constitution that allows the federal government to involve itself?
You're relying on people who walk around with their hands out 7 days a week to show testicular fortitude. Not gonna happen!
I appreciate your enlightened views on the subject.
Or maybe you are faced with having to pay for your kids' college?
Like those conservatives who hate gays until they have a gay kid.
One more thing. I love the “blame the Millennials” crowd. We took the classes, majors, and worthless degrees sold to us and setup by the miserable/greedy old bastards from your generation.
I am all for a true, good plan to reduce costs for those who can't afford it. It does bother me that many great students can't go to college because of finances - but it can't just be tax the rich. That won't work. That is re-distribution of wealth - and in my mind discourages much of the drive. The US became the industrial leader in part because the government stayed out of business and allowed the free market to reward those who worked hard and developed new areas).
That said - people need to take responsibility. I am all for helping those who truly need help attend college - but there should be strings (minimum GPA, specific majors, expectation that they continue to help the system after college, etc).
According to some in this thread, Millennials are probably to blame for cheap labor in other countries too. Damn pesky colleges.I truly sympathize with kids who graduated last 10-12 years. When I graduated in mid 90s with BA, the market valued a college degree. Economy needed workers and total debt from PSU instate with R&B was probably low 40k. You could easily find a job for 40k in 1997 with tech bubble and we were afforded training and reiubursement by employers. They needed us to learn and grow. Today, you get 100k debt and 40k job. Employers could give a sh&t if you have MBA and won't pay more. No training, no ed reimbursement. I work for rich global bank too. Why? Cheap asian labor. H1B and outsourcing have destroyed social contract with US working youth. I puke at these articles "oh you should have studied comp engineeering" 95% of people don't have brains or desire for it. There used to be a place for non techs, it was journalism and publishing. Now it is gone.