snip...
so you vilify a whole generation for a decision that you now regret. I didn't tell you to do it so go fuck yourself back, or go to your room until you can act like an adult and take responsibility for your own life-your choice.[/QUOTE]

Blow it out your ass grandpa.[/QUOTE]

Oh good snappy come-back time. I'm surprised you didn't call me poopy-pants junior.

I gotta say, this topic frustrates me to no end. My wife and I have 3 (grown) kids. We were fortunate and took care of their undergrad (conditioned on them working part time and maintaing a rather high GPA target. Two completed graduate programs that they paid for - financed through student loans. After completing school, both lived modestly and paid off their loans quickly. Their classmates, who bought nicer cars, went to fancy restaurants, and bought bigger cars will have their student debt forgiven. How is that fair?

We are sending a clear message to the young - you do not have to be financially responsible. Live life large and big brother will come to your rescue. Hey, over the last 4 years the feds have imposed all sorts of restrictions on collecting debts - reducing the stress if you decide to stop making your car payments, credit card payments etc.

We've had members here post about the problems they had getting dead beat tenants evicted from rental properties when they stopped paying rent. What happened to the idea of repaying what you borrowed.

Thanks for letting me rant!!

Our deal with our three sons was that we would pay their student loans off if the graduated. Our youngest just graduated in May and all student loans combined is now under 100k and we don’t expect anyone to pay the loans for us.

quote:

Originally posted by reloader-1:
In the 60’s/70’s/80’s, you could work your way through most 4 year institutions and graduate with little to no debt, and even if you didn’t the debt load was quite easily paid through a combination of good employment possibilities and inflation.

I don't think that's accurate at all. I grew up in Denver. There is absolutely no way I could have attended the Univ of Colo in Boulder and done what you said. I did go to the University of Colorado at Denver ('75-'78). The only way I got out without debt was by living at home. I worked 25-30 hours a week during school semesters and as much as possible on breaks and the summer. I had a whopping $150/semester scholarship from the Colorado Scholars program. The rest came from my pocket.

I don't know a single co-worker from the 80s that was able to pay off their school debt in 5 years - the period you mentioned in your note.


BTW, congrats on paying $400k of debt off in 5 years. But what the hell kind of jobs do you have where you can feed yourself and be able to pay $80,000 per year towards debt? Most college grads don't make $80k a year to start out.

i am old and sicky and i am so happy that i will be going soon. i can't stand the democrap party and their brainwashing. is sad that it work and people this days are so lazy so a government takeover would work at some point and there's nothing the republican party can do about it. So sad.

Forget the pandering socialism for a second....isn't it a bit of a stretch to call this guy a presidential candidate? Even a "longshot" presidential candidate. I mean serious, I never even heard of this guy until I opened this thread, and I bet I'm not the only one. Maybe he should be referred to as a "presidential candidate, technically" but I think it would be even better to say something like "guy pretending to be a presidential candidate."

quote:

Originally posted by senza nome:

quote:

“I don’t think it’s fair that the student and the parent has to bear all of this risk when it’s benefiting the entire economy,”

Just how does the entire economy benefit from an economic degree from Boston University?

My son received a Trustee Scholarship to Boston University.

Paid for room and board with my help and a summer job writing code.

Graduated cum laude with a degree in Economics!

Received a Fellowship from Princeton for his PHD.

Rents himself out as a consultant for an obscene hourly rate!

I don't know how the entire economy benefits, but he graduated

with honors no debt and California is doing quite well with the taxes he pays!

quote:

Originally posted by George43:

quote:

Originally posted by senza nome:

quote:

“I don’t think it’s fair that the student and the parent has to bear all of this risk when it’s benefiting the entire economy,”

Just how does the entire economy benefit from an economic degree from Boston University?

My son received a Trustee Scholarship to Boston University.

Paid for room and board with my help and a summer job writing code.

Graduated cum laude with a degree in Economics!

Received a Fellowship from Princeton for his PHD.

Rents himself out as a consultant for an obscene hourly rate!

I don't know how the entire economy benefits, but he graduated

with honors no debt and California is doing quite well with the taxes he pays!

I’m glad your son is doing well, but I do believe you missed the subtle dig at AOC.

It took me 5-1/2 years to get my "4 year" BSME, and another 2-1/2 for my MBA. I took 2 semesters off to work TWO full time jobs, and worked part time as a welder, burger flipper and 3rd shift maintenance man for the entire 8 years. No student debt, but I worked my ass off and went to a school I could afford.
I'd like for someone to pay off my mortgage please - free shit for all!

quote:

Originally posted by ChicagoSigMan:
Forget the pandering socialism for a second....isn't it a bit of a stretch to call this guy a presidential candidate? Even a "longshot" presidential candidate. I mean serious, I never even heard of this guy until I opened this thread, and I bet I'm not the only one. Maybe he should be referred to as a "presidential candidate, technically" but I think it would be even better to say something like "guy pretending to be a presidential candidate."

You are not Alone, Never heard of him before. i guess everyone is running for the presidency now. Every nut job and creepy dudu wants to be in charge now.

quote:

Originally posted by k5blazer:
Forgive student loans and watch the cost of college skyrocket.

I went to college, graduated in 1977. I went on the GI bill which paid me $330 per month. It took 1.5 months of that to pay for registration and books.

As I understand it now, that $300 will pay for maybe 2 text books.

And, were those student loans turned over to banks?

So, I guess, that for gubbermint to eliminate student loan debt the gubbermint would have to pay off those debts to the banks.

I can find no reasonable excuse for the outrageous cost of college indoctrination that exists today.

Maybe a more realistic approach would be to actually investigate why college is so damned expensive today?

So-called professors making outrageous sums to do very little does not help.

My last year at UM, 3 of the professors who were listed as teachers of my 4 courses never saw the damned class rooms! How could they? They were on university funded "research" projects offshore.

Hmmm... got out of the Army in ‘65 and went to FSU. Worked at the local blood bank, the FSU Infirmary lab and for the Biology Dept as a research assistant. Graduated in ‘68 with no student debt.

I did get the GI Bill that was a huge help! Thank you Uncle Sam...

Now... there are a vast number of good-paying jobs that do not require a college education. There is nothing wrong with industrial arts, but there is an undeserved stigma for not going to college.

There are shortages in almost all of the trades... try to hire a competent carpenter, plumber, painter etc. The are scarce and costly.

Simply put, college is not for everyone and it is not fair to the child to force them into it.

They'll say anything to get vote and these idiots are dumb enough to believe them.

I would like to ask college students if they support wiping out their student debt. There will be an obvious answer.

I would then ask them if they support if it it means their parents will have to pay 70% tax and thus be thrust into poverty.

I would then ask them if its still ok if they understand that no matter how good of a job they get, they will be paying for everyone else's student debt and their current lifestyle will likely not change.

Here's how it will go down. Lets say Poncahontas gets the nomination. She'll campaighn promising student loan forgiveness. Also let's say she wins the presidency. She will come out and say I wanted to cancel your student debt but those evil republicans have blocked it. It's their fault.....sorry. She knows it will never happen. So does Bernie and all the other clowns. Just bait to sucker the dumbest among us.

These plans don't "eliminate" the debt at all. They merely transfer it from those who incurred it to those who didn't.

Give them all jobs, clearing minefields.

I never went to college, I enlisted.

*ETA This is also a good example of how the government shouldn't be "run like a business". Government shouldn't have been involved at all.

quote:

Originally posted by reloader-1:
It’s not the 1970’s or 1980’s anymore, with a strong domestic manufacturing economy, a nascent computer boom, and a dearth of foreign competition. Nowadays, every 20 year old from Bangkok to Bogota is a competitor for intellectual work, and a flood of legal and illegal immigrants have made physical labor employment damn near worthless for huge swaths of the US.

And both sides of congress pushing to import every third person from India and China to destroy the entry level white collar job market.

quote:

Originally posted by Mr. Kook:

quote:

Originally posted by reloader-1:
Not in favor of this at all.

However, something HAS to be done about the cost of education as a whole. In the 60’s/70’s/80’s, you could work your way through most 4 year institutions and graduate with little to no debt, and even if you didn’t the debt load was quite easily paid through a combination of good employment possibilities and inflation.

By this point next year, my spouse and I will have paid $400k in student loans completely off, in 5 years post masters completion. In that time, we have not saved anything for retirement, for a future house, or really spent any money other than food and necessary transportation.

With a child, what this means is that we will not contribute anything to the economy in terms of spending until we are 50 or so, (mid-30’s now), which is fine for us but not so great for the economy as a whole.

And I completely echo what Arc said... fuck ‘em

Really simple solution to the college tuition expense problem: make all student loans going forward dischargeable in bankruptcy and get the fed.gov out of the student loan industry. Every future student loan would be made by loan officers who are risking their employer's own money. They will look into whether or not a given field of study results in employment, how much the student will be paid, the student's grades in high school, and will follow the student's educational career closely, making sure their investment is a good one and cutting off funding when the risk outweighs the reward. Schools will respond in kind by adjusting the prices levied for various fields of study and classes.

People who are already up to their eyeballs in student debt need to repay it. No free lunch for them.

This times 1000!

Why should everyone get loans? It’s easy to list the occupations that are in high demand. Just fund students that are earning their degrees in those jobs.
Yes, the fuzzy degrees in underwater basket wearing and gender studies aren’t going to get funded.
The military funds schooling with a payback requirement. Get the training/degree, the serve a set number of years.
All this “forgive student loans” doesn’t answer the basic question: After the debt is forgiven, how do you fund next years students? You’re not really going to not fix this are you?