Senate votes to kill $400 billion student loan handout, sets up fifth Biden veto

Of course, it is. But is there a correlation with people who chose easy and fun undergraduate majors (I was one of them; I get it) and those who found that their degrees did not rate them the careers they would need to pay off these loans? Yes, there is. And one of the necessary reforms might be to limit the scope of studies in conditions where the government is paying the cost. As I said, I favor putting all the current money toward merit-based scholarships in exchange for a term of service. An example that I would wholeheartedly support would be to give the Department of Education a healthy budget to recruit, educate, and license teachers, similar to how the DoD does the same to make military officers via ROTC scholarship. The government would pay your way through a 5-year undergraduate and masters program, then place you in a struggling public school for a contract of five-year service. After that, you teach where you want.

 

I hear ya about rewarding "bad choices," but don't think it's as severe a matter as you. You might be incorrect about families that could have paid the costs, as only students who received Pell Grants would be eligible for the largest benefit (20k reduction). Others would be eligible for 10k reduction, but only if their household income is <125k. This is not a matter of subsidizing the rich. I won't claim to be all for it either, but some of the arguments against tend not to be based on facts.

 

I definitely agree with you that the whole system needs an overhaul. My only issue with some posters is that they don’t realize how the landscape has changed with regards to the costs of education and housing, etc.

It’s not 1980 anymore and getting an entry level job and paying your student loans is not as easy as it was.

You should see the look on my students face when I tell them that my tuition at UF from 77-81 was 750 per year. My parents as high school educated folks could afford my education. That can’t happen anymore.

Edit: I was replying to UFTaipan. Don’t know why it didn’t show.

 

Kinda like rich folks

 

I think we all agree it’s harder.
The main point I and others are trying to make is that the flood of money into the system has largely caused the cost spike, so flooding more in, especially to kids who had a choice to take out those loans when there are many other paths to a middle class life, only makes things worse not better. Especially when it’s basically a give away to everyone and not the kids who did the right things and truly need it. And to be paid for by others who did the right thing too by other taking out responsible loans, getting good degrees, going to trade schools, or other good paths.
No one is unsympathetic to the cost of college, but this isn’t the answer.
And that will be my last post on it.

 

Sounds about right my friend.

 

... And by the time they really need good credit, they will have rebuilt theirs.

 

I just wish that people would fight just as hard to stop the bailout of banks and corporations, but of course that would never happen. We've been programmed to fight hardest against the little guy

 

If we can just give hundreds of billions of $$$ to Ukraine for free, then we can do the same for graduates. It's interesting to me that Pubs will fight against the little guy but won't bat an eye to take tax breaks to the wealthy, some of whom are invested in the student loan servicer businesses. I'm not fan of the Dems either, both parties should be shown the door.

 

There’s nothing “free” about what the Ukrainians are doing in return for our military aid. But I’ll certainly be willing to not only forgive the college debt of but also transport, arm, and feed anyone who wants to go serve in the Ukrainian armed forces for the duration of this war. Sign them up.

 

It’s not a give away to everyone, though. At least be honest about the proposal on the table.

 

How come no one ever makes this argument about school vouchers and school tuitions/costs?

 

I agree nothing free about it, except the taxpayer gets screwed. Its the politicians and their crony donors that get to "sell" there weapons and supplies on top of deals with rebuilding once the war is over. I am not in favor of sending anyone in harms way. I would rather use that money to either increase pay/incentives to plus up our enlistments and modernize our Military. Europe has more than enough equipment to keep Russia in check.

 

True and given the fact it'll almost certainly never pass, it's not a giveaway for anyone.

 

I don't think this is accurate. Only direct loans held by the federal government qualify for forgiveness. That means the government won't be paying off anything. They'll just wipe the obligation from their books and no longer attempt to collect on it.

 

True, but couldn't that be solved by only allowing bankruptcy some period of years after graduation?

 

Biden and his ceiling shattering spokesperson made it clear today that Joe wants the less educated and poorer Americans to pay the bills of the higher educated higher earning elites. Let's go Brandon.

 

Wait, I thought they were poor people that couldn't afford their loans because they chose the wrong majors. Now they are "the elite" who are earning a bunch of money too?

 

If you borrow money, it is your obligation to pay it back.

Pretty simple actually but for some reason, you don’t get it.