Forgive Student Loans?

#51
#51
volmaverick said:
the price would be A LOT cheaper if there were not the student loans

They would have to drop the price to get students, as of now they don't because of the loans

If you were selling something and knew the buyer could get a loan that would pay your high asking price. You would have no reason to adjust your price
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Not necessarily.

There are still a substantial number of students that are enrolled in universities (where the tuition is the highest, compared to community colleges and 'for-profit' colleges, which we will discuss later) that do not take out student loans (anywhere between 40-60%, depending on the source of the data). This means that these 'sellers' will still be able to 'sell' their 'product', just on a smaller scale. Of course, if they want to maintain the same number of enrolled students, they must decrease tuition costs; however, if they want to keep tuition high and maintain the same level of financial health (since one cannot exactly call it 'profit') they can simply lay off faculty and staff members, of which they would have too many based on the new, smaller pool of students. Hell, some schools might even raise tuition in order to, in some manner, retain their 'prestige' (or to pay for some high-tech gear that they deem essential to their research mission).

Further, a highly disproportionate number of defaulted student loans come from those who took loans out to 'attend' for-profit schools (e.g., University of Phoenix). These for-profit schools are less expensive than the majority of their private non-profit and public counterparts ($14K/year at University of Phoenix; $50K/year Boston University; $17.8K/year in-state, $36K/year out-of-state University of Tennessee).

According to the New York Time's, 96% of those who 'attend' for-profit institutions use student loans and 30% default. Yet, this appears to be the cheapest 4-year degree program path. Maybe, the individuals that are defaulting should have never been in school (hmm...maybe they were not accepted to private and public universities); if that is the case, the solution is not to punish those individuals who make it in to universities, take out loans, and, for the most part, pay them back.
 
#52
#52
bamawriter said:
Even though you have a different solution, you are joining Obama and Co. in focusing on the wrong problem.

The problem is not that people are getting huge student loans. Rather, it is that higher education has become way too expensive.
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Same problem as minimum wage (sort of). Minimum wage goes up, inflation goes up. More grant / loan money made available to students, tuition goes up.
 
#53
#53
volmaverick said:
the price would be A LOT cheaper if there were not the student loans

They would have to drop the price to get students, as of now they don't because of the loans
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I don't agree with the loans driving the cost up as much as the Hope scholarships.

Our oldest started school shortly after the scholarships started, according to some friends tuition went up almost as much as you got from the Hope.

Now our youngest is a Freshman and tuition/fees have gone even higher, outpacing the hope award by far.
 
#54
#54
If its the guaranteed availability of revenue that is driving tuition up then why do so many universities across the country face budget shortfalls, lay off professors, and shut down programs?
 
#55
#55
burntorangeVOLffle said:
If its the guaranteed availability of revenue that is driving tuition up then why do so many universities across the country face budget shortfalls, lay off professors, and shut down programs?
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for one thing, operating costs have gone up significantly. the red flag that's been ignored is the rise in administrative hiring. in my opinion, administrative positions (e.g. office of __) should not eclipse those of professors', either in number or salary.
 
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#56
#56
burntorangeVOLffle said:
If its the guaranteed availability of revenue that is driving tuition up then why do so many universities across the country face budget shortfalls, lay off professors, and shut down programs?
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It's not that there is a certain level of guaranteed revenue, it's that we are guaranteed to have more students than market equilibrium calls for. Schools accounted for this by having too many costs in terms of faculty, administration, and overhead (fixed costs). There are probably less students enrolling/staying in school, and probably less students paying out of state tuition (so state budget suffers). Variable costs get snipped first.
 
#57
#57
azVolFan said:
Same problem as minimum wage (sort of). Minimum wage goes up, inflation goes up. More grant / loan money made available to students, tuition goes up.
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This is exactly how it works. Generalizing, but a school will have approximately the same number of seats available with more money available to purchase those seats.

Tuition is raised and demand remains about the same.
 
#58
#58
burntorangeVOLffle said:
If its the guaranteed availability of revenue that is driving tuition up then why do so many universities across the country face budget shortfalls, lay off professors, and shut down programs?
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Ever seen one of the budgets? They're mini few along unionized bastions of lunacy and hardcore leftists, by and large. Governance is a bunch of long winded debates by a bunch of knuckleheads who wouldn't know finance if it kicked them in the teeth, so decision making is typically a disjointed mess. Some business programs do it better, but not dramatically so.
 
#59
#59
These Woke pols want student loans forgiven — including their own

Many of the woke politicians who have pushed for student-loan cancellation are themselves hip-deep in school debt, federal records reviewed by The Post show.

Most members of “The Squad” — the coterie of socialist legislators led by Rep. Alexandria Ocasio-Cortez (D-N.Y.) — fall into this category. Collectively, they owe between $180,004 and $400,000 in student loans, the records show.

Rep. Ocasio-Cortez had a balance of between $15,001 and $50,000 in federal student loans as of 2020, according to her most recent personal financial disclosure.

Despite her $174,000 annual salary, the economics major hasn’t paid off her balance, despite a zero percent interest rate and no payments due since March 2020.

'The Squad' want student loans forgiven — including their own
 
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#60
#60
College education was a sham from the start, but the fact that I saw it while others went ahead and racked up thousand in debt, and now I have to pay for it with my lower salary ticks me off tbh. I didn't because of the debt I would take on. You were not smart enough to see that and now I'm paying for your education .**** my life.
 
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#61
#61
Franklin Pierce said:
These Woke pols want student loans forgiven — including their own

Many of the woke politicians who have pushed for student-loan cancellation are themselves hip-deep in school debt, federal records reviewed by The Post show.

Most members of “The Squad” — the coterie of socialist legislators led by Rep. Alexandria Ocasio-Cortez (D-N.Y.) — fall into this category. Collectively, they owe between $180,004 and $400,000 in student loans, the records show.

Rep. Ocasio-Cortez had a balance of between $15,001 and $50,000 in federal student loans as of 2020, according to her most recent personal financial disclosure.

Despite her $174,000 annual salary, the economics major hasn’t paid off her balance, despite a zero percent interest rate and no payments due since March 2020.

'The Squad' want student loans forgiven — including their own
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This is a way to sidestep the 27th Amendment I suppose...
 
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#62
#62
Franklin Pierce said:
These Woke pols want student loans forgiven — including their own

Many of the woke politicians who have pushed for student-loan cancellation are themselves hip-deep in school debt, federal records reviewed by The Post show.

Most members of “The Squad” — the coterie of socialist legislators led by Rep. Alexandria Ocasio-Cortez (D-N.Y.) — fall into this category. Collectively, they owe between $180,004 and $400,000 in student loans, the records show.

Rep. Ocasio-Cortez had a balance of between $15,001 and $50,000 in federal student loans as of 2020, according to her most recent personal financial disclosure.

Despite her $174,000 annual salary, the economics major hasn’t paid off her balance, despite a zero percent interest rate and no payments due since March 2020.

'The Squad' want student loans forgiven — including their own
Click to expand...
F these people
 
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#64
#64
I paid more than $100K for higher education for my children out of my pocket with no student loans. I will not vote for anyone who forgives student loans without some penalty. I'm for 0% interest refinancing as long as the payment term is 10 years or less.
Paying off the student loans are not about the students, its about making sure the lenders are made whole on their predatory lending.
How many of you did, or went to school with someone that took a year off to work, so they could pay for school?
 
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#65
#65
As a condition of forgiving student loans the government got out of guaranteeing student loans, I mean 100% out of it and left it up to private institutions I might be willing to listen. But to forgive the loans and continue the current practice of backing them with taxpayer money is a non-starter.
 
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#66
#66
Hand out trillions in tax dollars to corps friendly with politicians? Oh yeah, we support that!

Hand trillions in tax dollars back to the people? No way you socialist bastard!
 
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#67
#67
I had no idea that AOC and others were still carrying substantial amounts of Student Loan debt.

Makes more sense now.
 
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#68
#68
A tale of two Dads-

Dad 1 never owned a new vehicle, bass boat, 4-wheeler, pontoon, camper, took lavish vacations, had an expensive gun collection, expensive fishing equipment or really did anything frivolous ever. After saving, scratching, clawing, working long hours and investing, he accumulated $150k. He bought each child a sensible new vehicle that would last 10+ years and gave each child $50k for college and said do what you wish...go to community college and pocket the rest, go be a doctor and figure out the rest of it. Both did well with their funds and education.

Dad 1's coworker Dad-2 constantly traded for a new full size GMC. Last count was 6 new trucks in the last 8 years. He's had multiple bass boats with each being more impressive than the last. He's upgraded campers several times and now has a 5th wheel. Skiing is also a big thing for Dad 2. Poor Dad 2 says "well, my kids are almost done with high school and we have nothing for them. We just couldn't afford to put any money back for them." Dad 2 has a higher salary than Dad 1.

Dad 1 will be livid if the debt of Dad 2's kids is magically wiped away.
 
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#69
#69
utvolpj said:
Hand out trillions in tax dollars to corps friendly with politicians? Oh yeah, we support that!

Hand trillions in tax dollars back to the people? No way you socialist bastard!
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Is your point here that in the student loan forgiveness that the money is going to the people or to the corporations holding their debt?
 
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#71
#71
MurphyVol said:
A tale of two Dads-

Dad 1 never owned a new vehicle, bass boat, 4-wheeler, pontoon, camper, took lavish vacations, had an expensive gun collection, expensive fishing equipment or really did anything frivolous ever. After saving, scratching, clawing, working long hours and investing, he accumulated $150k. He bought each child a sensible new vehicle that would last 10+ years and gave each child $50k for college and said do what you wish...go to community college and pocket the rest, go be a doctor and figure out the rest of it. Both did well with their funds and education.

Dad 1's coworker Dad-2 constantly traded for a new full size GMC. Last count was 6 new trucks in the last 8 years. He's had multiple bass boats with each being more impressive than the last. He's upgraded campers several times and now has a 5th wheel. Skiing is also a big thing for Dad 2. Poor Dad 2 says "well, my kids are almost done with high school and we have nothing for them. We just couldn't afford to put any money back for them." Dad 2 has a higher salary than Dad 1.

Dad 1 will be livid if the debt of Dad 2's kids is magically wiped away.
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They are giving money to the people indebt from college.

Not the people:
Who did not get themselves in debt while in college.
Those who did not get themselves in debt by going to trade school.
Those who did not get themselves in debt not going to college at all.
 
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#72
#72
MurphyVol said:
A tale of two Dads-

Dad 1 never owned a new vehicle, bass boat, 4-wheeler, pontoon, camper, took lavish vacations, had an expensive gun collection, expensive fishing equipment or really did anything frivolous ever. After saving, scratching, clawing, working long hours and investing, he accumulated $150k. He bought each child a sensible new vehicle that would last 10+ years and gave each child $50k for college and said do what you wish...go to community college and pocket the rest, go be a doctor and figure out the rest of it. Both did well with their funds and education.

Dad 1's coworker Dad-2 constantly traded for a new full size GMC. Last count was 6 new trucks in the last 8 years. He's had multiple bass boats with each being more impressive than the last. He's upgraded campers several times and now has a 5th wheel. Skiing is also a big thing for Dad 2. Poor Dad 2 says "well, my kids are almost done with high school and we have nothing for them. We just couldn't afford to put any money back for them." Dad 2 has a higher salary than Dad 1.

Dad 1 will be livid if the debt of Dad 2's kids is magically wiped away.
Click to expand...

I get the point but Dad 2 needs to mind his own business.
 
#73
#73
LouderVol said:
Is your point here that in the student loan forgiveness that the money is going to the people or to the corporations holding their debt?
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The debt is removed from the people. In the end it benefits both but it seems only one is an acceptable solution. Why is giving money directly to corps with no regular citizen involved or accountability preferable?

Pay it off and remove the govt
 
#74
#74
LouderVol said:
They are giving money to the people indebt from college.

Not the people:
Who did not get themselves in debt while in college.
Those who did not get themselves in debt by going to trade school.
Those who did not get themselves in debt not going to college at all.
Click to expand...

My kids got their undergrad degrees debt free.
 
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