Forgive Student Loans?

[volinbham]

You have a great point. What Biden should have done is make all federally backed student loans dischargeable through bankruptcy instead of forgiving x amount. That would stop the lenders and institutions from preying on inexperienced naive kids.

The government is the primary lender - the government is forgiving loans it made; not loans it guaranteed to banks. I'm not sure how they would even do that unless they purchased the loan from a bank.

 

[OHvol40]

You have a great point. What Biden should have done is make all federally backed student loans dischargeable through bankruptcy instead of forgiving x amount. That would stop the lenders and institutions from preying on inexperienced naive kids.

I don’t disagree. Furthermore, incentivize state schools to stop the runaway tuition nonsense by withholding or limiting their federal lending when they don’t meet some affordability parameters. If you create a marketplace where state schools are competing for enrollment and drive the tuition prices down, I’d say we’d be in a better spot.

 

[OHvol40]

which finance institutions?

Never heard of education finance?

 

[C-south]

Never heard of education finance?

Apparently 50 million haven’t

 

[OHvol40]

Lol. Simple minds think they’re smarter and more important than they actually are until reality hits. Like not being able to pay student loans.

Yep, we should all aspire to be long-haulers with $200,000 mortgages, amirite?

 

[volinbham]

I don’t disagree. Furthermore, incentivize state schools to stop the runaway tuition nonsense by withholding or limiting their federal lending when they don’t meet some affordability parameters. If you create a marketplace where state schools are competing for enrollment and drive the tuition prices down, I’d say we’d be in a better spot.

As someone who's been a university employee for over 30 years I can tell you the Federal government is a major cost driver. Between the virtually no limit lending enabling tuition increases and massive growth in government programs/policies driving major growth in the administrative function of universities it's easy to see how Higher Ed costs have far outpaced inflation.

It is easily and directly traceable to government policies.

When I started my current position we had maybe 5 administrators for about 60 full time faculty (in our school). We are now at about 25 administrators and about 80 faculty. This doesn't account for the entire administrative offices that have been added at the university level primarily as the result of compliance requirements and/or government programs.

 

[C-south]

Yep, we should all aspire to be long-haulers with $200,000 mortgages, amirite?

Idgaf what you aspire to be. It’s not everyone else’s responsibility to make you happy or pay your bills.

 

[volinbham]

Never heard of education finance?

in what form - what is being financed and who are the institutions you are referring to?

 

[GroverCleveland]

Government steps in when and where markets fail to serve society appropriately. Don't like government - take away the need.

Government made this freaking mess.

 

[C-south]

Government steps in when and where markets fail to serve society appropriately. Don't like government - take away the need.

Just when we think you can’t say anything dumber.

 

[Ashevolle]

the bulk of these loans are not from banks...that ended 10 years ago

Lots of that debt is still keeping Americans from achieving financial stability 10 years later.

 

[C-south]

Lots of that debt is still keeping Americans from achieving financial stability 10 years later.

Oh well.

 

[Ashevolle]

It's 100% relevant when you are using/abusing over reaching emergency powers.

What constitutes an emergency is debatable.

 

[OHvol40]

in what form - what is being financed and who are the institutions you are referring to?

In the form of lending. Federal and private institutions.

 

[Ashevolle]

Oh well.

It is what it is. Deal with it.

 

[OHvol40]

Idgaf what you aspire to be. It’s not everyone else’s responsibility to make you happy or pay your bills.

Oh sweetheart, you don’t pay any of my bills lol

 

[C-south]

It is what it is. Deal with it.

As Ktown would say, “it doesn’t effect me”.

 

[C-south]

Oh sweetheart, you don’t pay any of my bills lol

Lol. Ok freeloader.

 

[volinbham]

In the form of lending. Federal and private institutions.

I'm just trying to understand it in context of your post - are you saying the Feds are holding access to education hostage by lending money to students? I'm missing something.

"Education and finance institutions see an opportunity to hold hostage access to valuable professions and make generally well-meaning, motivated, bright people pay a king’s ransom to enter those professions."

 

[GroverCleveland]

Simple minds produce simple thoughts I suppose.

And you are producing a lot.

 

[OHvol40]

I'm just trying to understand it in context of your post - are you saying the Feds are holding access to education hostage by lending money to students? I'm missing something.

"Education and finance institutions see an opportunity to hold hostage access to valuable professions and make generally well-meaning, motivated, bright people pay a king’s ransom to enter those professions."

Yes, they are all compliant in creating a system that has allowed higher education to astronomically overcharge while still maintaining the illusion of opportunity for upward mobility.

 

[OHvol40]

And you are producing a lot.

Another quip of wisdom lol

 

[C-south]

Yes, they are all compliant in creating a system that has allowed higher education to astronomically overcharge while still maintaining the illusion of opportunity for upward mobility.

You can get two free years of college in most areas and then transfer to another university. These are self inflicted problems. Deal with it on your own.

 

[OHvol40]

Lol. Ok freeloader.

I doubt you pay any taxes meaningful enough to call anyone a freeloader.

 

[volinbham]

Yes, they are all compliant in creating a system that has allowed higher education to astronomically overcharge while still maintaining the illusion of opportunity for upward mobility.

thanks for the clarification