Student Loans Getting Close to Implosion!

[cubsfan]

Good article about American higher education -and how the system morphed to much higher costs over time:

 

https://amgreatness.com/2019/09/01/from-icon-to-just-a-con/

 

The "Prescription" is quite interesting, although the chances of reform the author puts at zero. Reason? too many imbedded interests

 

[Guest oakwood42]

What I think is retarded, is that none of this is forced, and much of this is because of selfishness and motives not really centered around education. Community college is available to everyone, and costs very little. If your goal is an education, why not do that? Its inexcusable to excuse student loans for people who chose to go to $30K+ per year universities, took room and board, and lets face it, basically were there for the "experience" and social aspects...

 

+1 what about those of us who attended community college first, received an associates, moved on to bachelors at basic state university and then paid off debt off? Do we get reimbursed? Do we get some special type of compensation? LOL 

[LC]

Should we not discourage predatory lending simply because some people are financially savvy enough to avoid it?

 

How selfish can you be? It’s like someone with HIV saying “don’t bother looking for a cure, it wouldn’t be fair if you found one anyways, since I’ve been taking HIV medication for 30 years!”

[Castanza]

Should we not discourage predatory lending simply because some people are financially savvy enough to avoid it?

 

How selfish can you be? It’s like someone with HIV saying “don’t bother looking for a cure, it wouldn’t be fair if you found one anyways, since I’ve been taking HIV medication for 30 years!”

 

When does personal responsibility come into play? I'm not disagreeing with your point, but I'm also not agreeing with it. My issue with much of the Democratic policies is they want to remove all personal responsibility, accountability and decision making from the process. We shouldn't have a nanny state, yet I agree there probably are some lending practices which are harmful (but shouldn't necessarily be illegal). On the radio the other day some workplace was offering to pay off student debt for signed employment contracts of a specific length of time. I'd imagine there are some shady practices in the fine print there.

 

Is it not just as shady/predatory to make some "taxpayer" foot the bill for others poor decisions? Does that not also fall under predatory/shady lending practices? I didn't force you to take out a loan and I'm also not volunteering my money to pay for your loan. All you're left with is force which is simply predation on a faceless person aka the tax payer.

 

 

[SharperDingaan]

Should we not discourage predatory lending simply because some people are financially savvy enough to avoid it?

 

How selfish can you be? It’s like someone with HIV saying “don’t bother looking for a cure, it wouldn’t be fair if you found one anyways, since I’ve been taking HIV medication for 30 years!”

 

Discouraging predatory lending is like trying to banish clap.

We might suppress it for a while, but it is not going away - and over the long term, it adapts to whatever drug is being used.

Ultimately it is how much is tolerable.

 

Assume the views on this thread are representative of the population.

Simply writing off the debt, or discharging it through a bankruptcy, is clearly not a socially or politically practical approach. There's little objection to a write-off; but it has to be earned in some way. Society paid for it, society should get something for it, and there is a lot of societal need. Hard to argue against.

 

The US has been trying to reconcile civil rights ever since the 60's, and is still trying 60 years later.

Students loans are not a lot different. Ultimately, change is limited to the pace at which the oldest generation dies out.

Write-offs will eventually occur, but it is going to be a very long 'negotiation'.

 

SD