Help me out. I never took a student loan or a pell grant. I paid for college by working 40+ hours a week while going to school and some scholarships. So I have a knowledge gap.

Who issued the student loans, government or the private banks?

By what power can the President can forgive debts? If it's a privately held debt isn't that theft? The loan is an asset owned by the lender? If it's a government debt, doesn't congress control the spending.

What will be the economic impact from forgiving the debt, will it cause the collapse of the lending institution and a loss of jobs?

The millennial snowflakes that support this do not have a responsible bone in their bodies; they've gotten nothing in their miserable lives from the sweat off of their brow. This is just the next stage of getting everything handed to them.

You'll find their like protesting the G20, or trying to beat up Trump supporters while wearing black masks.

I'll say this - a lot of people commenting on this thread went to college when a semester was $500 and books were $10. Things are very different now and unless you can find a part-time job that makes 30-40 grand a year you aren't working your way through college. If your parents don't have it you are stuck with student loans.

I am not defending them for taking $100k in student loans for a women's studies degree, just pointing out that working through college is not realistic in the 21st century.

(I used my GI bill/guard tuition assistance so I didn't pay a dime for any of my degrees. Just pointing out that I don't have a horse in this race.)

quote:

Originally posted by AirmanJeff:
I'll say this - a lot of people commenting on this thread went to college when a semester was $500 and books were $10. Things are very different now and unless you can find a part-time job that makes 30-40 grand a year you aren't working your way through college. If your parents don't have it you are stuck with student loans.

I am not defending them for taking $100k in student loans for a women's studies degree, just pointing out that working through college is not realistic in the 21st century.

(I used my GI bill/guard tuition assistance so I didn't pay a dime for any of my degrees. Just pointing out that I don't have a horse in this race.)

$500 and $10 was a lot more then than now.

Snowflakes need to earn their education. I did it. My wife did it. Not one penny in loans. Other than one thousand dollars that my father left me when he died in 1942, I received no monetary help that I did not earn. GI bill, yeah. Employer's tuition assistance program, yeah, but that was contingent on

1. course work applicable to the company's interests (math, physics, etc., as I was working for Bell Labs), and
   
2. grades earned in the courses. Deal was I paid tuition, then after the course I was reimbursed, percentage of tuition reimbursement was a function of the grade that was earned.

Snowflakes want to coast through on somebody else's (mine) dime? Fuck 'em.

I can maybe see some loan forgiveness under some circumstances. For example, something in the medical area. Partial loan forgiveness earned by working in an area where it's tough to hire people. Sort of a community service thing. Maybe VA hospital or similar.

quote:

Originally posted by AirmanJeff:
I'll say this - a lot of people commenting on this thread went to college when a semester was $500 and books were $10. Things are very different now and unless you can find a part-time job that makes 30-40 grand a year you aren't working your way through college. If your parents don't have it you are stuck with student loans.

I am not defending them for taking $100k in student loans for a women's studies degree, just pointing out that working through college is not realistic in the 21st century.

(I used my GI bill/guard tuition assistance so I didn't pay a dime for any of my degrees. Just pointing out that I don't have a horse in this race.)

I hear that excuse a lot. A couple of points:

If the cost of cars had gone up that much would people be clammering for car loan forgiveness or fighting the greedy car companies, demanding lower prices?

The problem is greedy and bloated colleges and universities who know that they can set whatever price they want and people will just borrow more and more to pay them. They are guaranteed their price, whatever they decide to set.

If you lived in Tennessee everyone can get an Associates degree with no out of pocket expense or you can get a TN Hope scholarship to a 4 year university out of high school if you get a 21 on the ACT and keep a 3.0 GPA.

There are way to go without a loan if you are willing to work, people do it every day.

I've heard that "Ivy League Schools" have enough endowments that they could educate EVERYONE that attended their school for free and still have money left over.

Bama has it nailed.....pure greed. I guess they're on the Gordon Gekko train..."greed is good".

quote:

Originally posted by AirmanJeff:
I'll say this - a lot of people commenting on this thread went to college when a semester was $500 and books were $10. Things are very different now and unless you can find a part-time job that makes 30-40 grand a year you aren't working your way through college. If your parents don't have it you are stuck with student loans.

I am not defending them for taking $100k in student loans for a women's studies degree, just pointing out that working through college is not realistic in the 21st century.

(I used my GI bill/guard tuition assistance so I didn't pay a dime for any of my degrees. Just pointing out that I don't have a horse in this race.)

First, thank you for your service. You're making an incorrect assumption about other people commenting on this topic. I have 3 college degrees in very tough majors from top schools (2 Ivy League), worked full / part time through my studies and still had to take 100k out in loans. No one made me choose my schools, related tuition and my studies... but I paid off my loans and there's ZERO excuses why someone who signs for a loan (of any sort) shouldn't make every attempt to do the same. I don't care if it takes their lifetime to pay off the bill. I've made sacrifices and seen others do the same, all in an effort to get where they are today, which is part of the American Dream. The latter has No Room for the Free Shit crowd, which the left wants dependent on large gov't programs to justify their existence and paychecks. Working through college is Very Easy to do in the 21st century, it just takes the discipline and time management skills (which are hard to accept) that come in handy throughout life.

quote:

Christopher Krell, CRP and partner at Cassaday & Company in McLean, Va., agrees, saying in order to forgive 25% of the current $1.3 trillion dollars of the student loan debt in the U.S., it would cost almost $33 billion—which is something that the government simply can’t afford—let alone banks.

Not quite, EINSTEIN. 25% of 1.3 trillion is 330 billion, not "almost" 33. Maybe he can get a refund on his education costs - he didn't seem to benefit from his time at university.

As for the poor, poor, strapped students - pay up. I'll be damned if I'll willingly pay for you.

quote:

Originally posted by GJG:

quote:

Christopher Krell, CRP and partner at Cassaday & Company in McLean, Va., agrees, saying in order to forgive 25% of the current $1.3 trillion dollars of the student loan debt in the U.S., it would cost almost $33 billion—which is something that the government simply can’t afford—let alone banks.

Not quite, EINSTEIN. 25% of 1.3 trillion is 330 billion, not "almost" 33. Maybe he can get a refund on his education costs - he didn't seem to benefit from his time at university.

As for the poor, poor, strapped students - pay up. I'll be damned if I'll willingly pay for you.

I interned at that company. Guess that explains why I'm not the smartest.

Nobody ever forced somebody to take a loan for college, mortgage, car loan, credit cards etc.

Buck up you deadbeats, and pay your own bills!

I went to college, 12 credit hours per semester as that counted as full time for VA benefits.

While doing that, I worked an average of 60 hours per week doing customer service for IBM, at night because the college did not have the courses I needed in their night study program.

My education includes:
AA in accounting
BS in Human resource management
BS in Production management
minor in Economics

Later did my MBA in finance at Marist college while a night shift manager at IBM Poughkeepsie. Night school.

I have no sympathy for these semi-educated twits who run up 100s of $1000s in debt studying some useless, feel good, subject.

There is a lot of money to be made in some of the professional services like mechanics, plumbers, carpenters, etc. Unfortunately, far too many of American youth today have no concept of actually WORKING.

I paid room and board to live at home from age 14 until I was 17 when I went into the army.

I have no sympathy for these simpering idiots who believe that just because they want something that we/society should automatically provide it for them. You run up the debt, pay it off. You study some stupid shit that will not pay enough to feed and clothe you? Tough shit, go hungry and sleep on a park bench, do not expect me to pay for your meals and room rent, medical expenses, etc.

Below is a link to an article showing all sorts of graphs with salaries for those with bachelor’s degree and an associate’s degree vs. a High School diploma.

Analysis of the economic returns to college since the 1970s demonstrates that the benefits of both a Bachelor’s degree and an Associate’s degree still tend to outweigh the costs, with both degrees earning a return of about 15 percent over the past decade.

There is a pretty big gap from $10 - $30,0000 per year in salary between high school diploma an those with a degree. That pay difference is what you should plan on using to pay off your loan.

Why should those without the benefit of a degree and those that have paid for their degree be required to pay for a degree for you?

Do the Benefits of College Still Outweigh the Cost?

quote:

Not quite, EINSTEIN. 25% of 1.3 trillion is 330 billion, not "almost" 33. Maybe he can get a refund on his education costs - he didn't seem to benefit from his time at university.

That seems to be the real problem with today's college graduates. They borrow a lot of money and don't walk out with much more knowledge than they walked in with.

"You can lead a horse to water, but you can't make him drink."

"You can send a kid to college, but you can't make him think."

-My Father, circa 1960's

H&K-Guy

quote:

The problem is greedy and bloated colleges and universities who know that they can set whatever price they want and people will just borrow more and more to pay them. They are guaranteed their price, whatever they decide to set.

Not to mention the hugely expensive shit like basketball gyms, football stadiums, huge staffs that have no real function related to education of students. My last semester in college of the 4 courses I took, 3 of them had graduate assistants as teachers! The "professors" listed as the teachers were out of country doing "research".

quote:

Originally posted by Skins2881:

quote:

Originally posted by GJG:

quote:

Christopher Krell, CRP and partner at Cassaday & Company in McLean, Va., agrees, saying in order to forgive 25% of the current $1.3 trillion dollars of the student loan debt in the U.S., it would cost almost $33 billion—which is something that the government simply can’t afford—let alone banks.

Not quite, EINSTEIN. 25% of 1.3 trillion is 330 billion, not "almost" 33. Maybe he can get a refund on his education costs - he didn't seem to benefit from his time at university.

As for the poor, poor, strapped students - pay up. I'll be damned if I'll willingly pay for you.

I interned at that company. Guess that explains why I'm not the smartest.

Hey, you're not still there. Looks like you saw the light!

58% said no. Im hopeful.

My daughter just graduated from BYU in May. Not only did she manage to get through college with no student debt, she worked in her field which led to post-graduation employment on day one. During her college days, she also served a year and a half in Argentina on a mission, learned Spanish, got married, and saved $10,000 from working.

You don't need to go to Brown and spend $50,000 a year for an education. That is just a racket perpetuated by easy government money. A person who chooses his/her major well, is motived, and doesn't spend her college days hugging a beer keg can be really successful and graduate with no student debt.

What percent of that 42% do you think voted for Trump? Very small I bet. That was the Bernie crowd.