Agree, although to take into consideration the false dilemma of trying to make this into a moral hazard, I would compromise a little and make the forgiveness to be mostly means tested. And also include the ones that were scammed by Trump like universities and colleges.
I think kids racking up tens of thousands of dollars in debt for some silly-ass degree in whatever “studies” (with the accompanying dismal employment prospects) is the flavor of the week is a bad thing.
We need to build more colleges. Full stop. I think this plan Warren is proposing is bad for reasons already stated, but I think you’re making a classic error here in accusing people of not wanting to fix the underlying issues just because we don’t like this particular plan.
My sorta alma mater, Ohio State, hasn’t drastically increased its in-state undergraduate enrollment in the 20 years since I left there. Instead, they’ve jacked up the prices to keep people out. If college is good, and I think it is, then Ohio should focus on building a second university to rival Ohio State so it can accept a lot more students at lower prices. But nobody is proposing this. Instead we’re trying to figure out ways to gift existing colleges more taxpayer dollars and not demanding that they accept more students.
Well, there are economists and business groups that do see a benefit on loan forgiveness.
That the economical argument, as for the moral one:
I’m not sure how you’d do this without drastically changing the effect vs what Warren is proposing. Most people fresh out of college hardly pay any federal income tax anyway. It would take years or decades for them to use enough tax credits to pay off $100k in loans.
I think an educated populace is a very good thing and very important to the health of our society.
I know the GOP does not agree with this. “I love the poorly educated!” and all that.
It’s ok to just own that your party does not want American citizens to be educated.
Yes, but at the same time most of the ones in power are not bothering on overseeing those institutions that are offering those silly-ass degrees.
Yeah, all those kids with their high debt and their crazy degrees like check notes education and law.
“Area, ethnic, cultural, gender, and group studies” majors make up about 0.4% of college students:
Wow. Owned by your own Secretary of Education. HD do you even know what the administration you support is doing? Because they don’t seem to share your concerns regarding “silly-ass degrees”. Obama on the other hand tried to do something to help with that problem.
Airbeck, you are straw-manning in this thread. Saying that the GOP doesn’t like education because how shoddily the U.S. education model works is akin to war-hawks who say that Democrats who oppose $700 billion defense budgets “do not support our men and women in uniform.”
What about those of us who got “good” degrees but still ended up with lots and lots of debt?
I got a degree in Chemical Engineering in 2011. I graduated with a significant amount of debt. (I got kind of screwed when I tried to get in state tuition in Indiana and was denied because I wasn’t legally emancipated from my parents who lived in Kansas at the time. Funnily enough, a few years ago, they moved back to Indiana.) I worked all through college and did my best to save but tuition for us out-of-state students rose every year. On top of that, my parents declared bankruptcy and weren’t able to cosign on my loans. My senior year, I ended up with some truly terrible private loans with double digit interest rates. Trust me, I took advantage of every opportunity to avoid borrowing more money. My hands were tied at that point.
So, 8 years out of school, I still owe north of $80k on my loans, and was only just able to refinance my private student loans to a much more reasonable interest rate. I got stuck in a spiral where I couldn’t refinance my student loans because the banks felt that I couldn’t afford my student loans and, meanwhile, the principles weren’t going down because of the exorbitant interest rates that would go up every quarter.
I admit that I signed up for them. I did sign my name on the dotted line. But, please, don’t tell me that this system isn’t exploitative.
She’s just pandering. It’s a way to buy votes. She can’t be so dumb that she actually believes it’s a good idea.
No that’s not true at all. Look at the link I posted. Republicans think that college is a bad thing for America. They said it not me. It’s the whole “colleges are all about liberal indoctrination” thing.
So tell me then, what policies are the GOP fighting for that would actually improve education in the US? And I mean all education, not just private/charter schools. We need to judge our outcomes by all students.
Not so much “kids” but “peers.” Someone who worked hard from, say, 2015 through 2020 to pay off loans would have endured considerable financial tightness, whereas someone who graduated in 2020 just entering the Warren presidency would not have had to repay any of their loan. That is not a parent-to-kid-or-grandkid age gap, that is an age gap of mere years. It would be a 28-year old having resentment against a 22-year old, who in many ways in a comparative peer. The resentment would be greater because of how close the age gap is.
Please check Post #24
She and Bernie are trying hard to separate themselves from the rest of the contender field. With good reason, too; at their respective ages (they’re both over 70,) it is likely their last realistic shot at the presidency.
So a program that costs $125 billion a year, and boosts GDP by $86-108 billion, is a boon for the economy? Not to mention -
What a preposterous piece of nonsense.
Regards,
Shodan
Just curious, where do you think you can obtain a degree in LGBT Studies?
A) The University of Phoenix, one of those evil for-profit colleges (hint) or
B) UC Berkeley, one of those noble and delightsome non-profit public colleges that are seeking to prepare youth to launch their life of success with low tuition and a practical degree that will help them find employment (hint)
Bonus question:
How would you feel about applying the “cut off federally guaranteed student loans to colleges if their graduates did not earn enough money to pay them off” to public colleges and universities? Or is what’s good for the goose not good for the gander in this case?
Well stop being so spiteful and self centered and think about how your kids and grandkids would benefit, rather than looking at your neighbor in an envious rage. It’s bad that so many people have gotten screwed in the student loan system. It would be worse to refuse to fix that because you demand that everyone after you must suffer exactly as you have!!!
We are supposed to be forming a more perfect union, not trying to ensure that any suffering we’ve endured must continue in perpetuity so everyone after us will suffer equally.
Of course you could just print money and give everyone a check. No need to tie it into poor personal financial decisions. Why distort the market further and reward time and effort wasted on worthless degrees?
I paid off my student loan because I only borrowed what I needed and deliberately chose a degree that had demand and earning potential. If octopus can get a decent paying engineering degree what’s stopping others?