Cancelling Student Debt?

[DGS49]

Student Debt Is a Racial Equity Issue. Here’s How Mass Debt Relief Can Address It. - Roosevelt Institute

$75,000 in student debt cancellation would increase household wealth, help close the racial wealth gap, and boost our struggling economy.

rooseveltinstitute.org

The linked article addresses the racial component of student debt. Nothing surprising. Black student debt is higher than white student debt; Blacks have worse job prospects; it's a bigger burden...blah, blah, blah.

Erase $10k? 25k? 50k? Hell, why limit it all? Just cancel out the whole fucking thing for everybody!

But as with the general problem of student immaturity, un-realism, and poor judgment when deciding (1) whether to go to college full time at all, (2) what college to attend, and (3) what to major in, these questions become even more acute for people with fewer family resources - such as many Black students.

Are they encouraged to maximize their exploitation of free or low-cost "state" schools? Forego full-time college and combine employment with part-time studies? Major in subjects that are likely to be in demand four or five years hence? Utilize military service as an avenue to higher education? Or do they go to an expensive private college and major in "Ethnic Studies"? I wonder.

These are not "racial" questions. They are questions that everyone of limited means MUST confront. I - a white guy - employed all of the strategies mentioned in the preceding paragraph, and ended up with a law degree. And zero debt (of course that was a different time, tuition-wise).

Does not this "discussion" typify the total financial unreality of the political Left in this country? They talk like canceling debt is just a decision to be implemented with a snap of someone's fingers, with no ramifications other than the release of the burden to the affected ex-students. Where is this money - hundreds of billions of dollars - to come from? Taxing The Rich? There are not that many "rich" people, and they don't like to be taken advantage of.

This is one of many issues where the foolishness of Democracy is manifest. How many 18-35 year olds voted for Biden in this past election with the hope that some or all of their student debt would be cancelled? Is that a valid reason for a vote? Free stuff?

I'm glad my days of paying a lot of FIT are over. Fuck it. I just don't care anymore.

 

[Blues Man]

Cancelling mortgage debt would do even more

 

[Toro]

Horrible idea

 

[pknopp]

As long as we are going to continue to plow billions into the markets I'm going to support things that spreads that around to as many as possible.

 

[Blues Man]

Horrible idea

We gave all those too big too fail companies more than enough money to pay off every mortgage in the country. But hey why bail out the little guy when you can have huge corporations in the pocket of the fucking government.

 

[Harry Dresden]

Cancelling mortgage debt would do even more

yes it would.....

 

[Taz]

Student Debt Is a Racial Equity Issue. Here’s How Mass Debt Relief Can Address It. - Roosevelt Institute

$75,000 in student debt cancellation would increase household wealth, help close the racial wealth gap, and boost our struggling economy.

rooseveltinstitute.org

The linked article addresses the racial component of student debt. Nothing surprising. Black student debt is higher than white student debt; Blacks have worse job prospects; it's a bigger burden...blah, blah, blah.

Erase $10k? 25k? 50k? Hell, why limit it all? Just cancel out the whole fucking thing for everybody!

But as with the general problem of student immaturity, un-realism, and poor judgment when deciding (1) whether to go to college full time at all, (2) what college to attend, and (3) what to major in, these questions become even more acute for people with fewer family resources - such as many Black students.

Are they encouraged to maximize their exploitation of free or low-cost "state" schools? Forego full-time college and combine employment with part-time studies? Major in subjects that are likely to be in demand four or five years hence? Utilize military service as an avenue to higher education? Or do they go to an expensive private college and major in "Ethnic Studies"? I wonder.

These are not "racial" questions. They are questions that everyone of limited means MUST confront. I - a white guy - employed all of the strategies mentioned in the preceding paragraph, and ended up with a law degree. And zero debt (of course that was a different time, tuition-wise).

Does not this "discussion" typify the total financial unreality of the political Left in this country? They talk like canceling debt is just a decision to be implemented with a snap of someone's fingers, with no ramifications other than the release of the burden to the affected ex-students. Where is this money - hundreds of billions of dollars - to come from? Taxing The Rich? There are not that many "rich" people, and they don't like to be taken advantage of.

This is one of many issues where the foolishness of Democracy is manifest. How many 18-35 year olds voted for Biden in this past election with the hope that some or all of their student debt would be cancelled? Is that a valid reason for a vote? Free stuff?

I'm glad my days of paying a lot of FIT are over. Fuck it. I just don't care anymore.

Why not? We spend almost a trillion each year on weapons, when we could use a lot of that money for good...

 

[xband]

Anyone who goes to college is an idiot. Anyone who gets a student loan to go to college is a stupid idiot.

 

[Votto]

Horrible idea

STFU and enjoy what you voted for

 

[Taz]

Anyone who goes to college is an idiot. Anyone who gets a student loan to go to college is a stupid idiot.

Ya, who needs doctors...

 

[Votto]

Student Debt Is a Racial Equity Issue. Here’s How Mass Debt Relief Can Address It. - Roosevelt Institute

$75,000 in student debt cancellation would increase household wealth, help close the racial wealth gap, and boost our struggling economy.

rooseveltinstitute.org

The linked article addresses the racial component of student debt. Nothing surprising. Black student debt is higher than white student debt; Blacks have worse job prospects; it's a bigger burden...blah, blah, blah.

Erase $10k? 25k? 50k? Hell, why limit it all? Just cancel out the whole fucking thing for everybody!

But as with the general problem of student immaturity, un-realism, and poor judgment when deciding (1) whether to go to college full time at all, (2) what college to attend, and (3) what to major in, these questions become even more acute for people with fewer family resources - such as many Black students.

Are they encouraged to maximize their exploitation of free or low-cost "state" schools? Forego full-time college and combine employment with part-time studies? Major in subjects that are likely to be in demand four or five years hence? Utilize military service as an avenue to higher education? Or do they go to an expensive private college and major in "Ethnic Studies"? I wonder.

These are not "racial" questions. They are questions that everyone of limited means MUST confront. I - a white guy - employed all of the strategies mentioned in the preceding paragraph, and ended up with a law degree. And zero debt (of course that was a different time, tuition-wise).

Does not this "discussion" typify the total financial unreality of the political Left in this country? They talk like canceling debt is just a decision to be implemented with a snap of someone's fingers, with no ramifications other than the release of the burden to the affected ex-students. Where is this money - hundreds of billions of dollars - to come from? Taxing The Rich? There are not that many "rich" people, and they don't like to be taken advantage of.

This is one of many issues where the foolishness of Democracy is manifest. How many 18-35 year olds voted for Biden in this past election with the hope that some or all of their student debt would be cancelled? Is that a valid reason for a vote? Free stuff?

I'm glad my days of paying a lot of FIT are over. Fuck it. I just don't care anymore.

More than likely the democrats will find a way to cancel black student debt and leave the white racists to fend for themselves

 

[occupied]

Instead of wage growth we opted for debt growth as the path to the middle class. The boomers sit around bragging that they started with nothing when today's graduates would be thrilled to start with nothing instead of a debt they will be paying for years and years.

 

[pknopp]

Anyone who goes to college is an idiot. Anyone who gets a student loan to go to college is a stupid idiot.

I have to wonder how your voodoo doctor does in treating cancer?

 

[Mac-7]

As long as we are going to continue to plow billions into the markets I'm going to support things that spreads that around to as many as possible.

I dont support subsidizing the markets

so from where I sit you are doubly bad

 

[pknopp]

As long as we are going to continue to plow billions into the markets I'm going to support things that spreads that around to as many as possible.

I dont support subsidizing the markets

so from where I sit you are doubly bad

I deal in realities.

 

[Mac-7]

I deal in realities.

Doubling down on bad fiscal policies is a reality we dont need

 

[Dont Taz Me Bro]

As long as we are going to continue to plow billions into the markets I'm going to support things that spreads that around to as many as possible.

Cancelling student debt won't solve the problem of college tuition costs. In fact, it will only make it worse.

 

[Votto]

Instead of wage growth we opted for debt growth as the path to the middle class. The boomers sit around bragging that they started with nothing when today's graduates would be thrilled to start with nothing instead of a debt they will be paying for years and years.

Progressives wash their hands of any responsibility for the unaffordability of higher education.

Here you have had a system over the years where tuition ONLY goes up. While others may suffer economically during economic declines, everyone suffers EXCEPT those at the university level.

How do they do it? Well government simply took over student loans and lowered interest rates, that way students could afford higher tuition by the government decreasing interest rates. However, to make sure students could not get out of their debt, to appease universities around the country, government made sure that getting out of student debt was the most draconian of all debt. In other words, you can never be free of it and will follow you till the day you die!

However, now we have arrived at a place where interest rates can't really be lowered any further, which means fewer and fewer kids will actually go to college. Now we are looking square into the bubble of ballooning costs for our Leftists universities around the country. The answer? Free college, but we all know it's not free, don't we.

No, now they will simply print money, which will further erode the wealth Americans may already have, as America continues its decline Marx style. But at least we all now know why tuition rates are so outrageous. Government drove them up, just like they did with health care.

So why do universities enjoy such a symbiotic relationship that no other industry seems to with government? It's because the agreement with the Left wing colleges with government is, indoctrinate for us and you will be handsomely reimbursed. And any kid who will try and forgo college, we will make sure that the economy is such that they will have no future.

 

[TroglocratsRdumb]

"increase wealth" LOL
increase taxes and debt

 

[occupied]

Instead of wage growth we opted for debt growth as the path to the middle class. The boomers sit around bragging that they started with nothing when today's graduates would be thrilled to start with nothing instead of a debt they will be paying for years and years.

Progressives wash their hands of any responsibility for the unaffordability of higher education.

Here you have had a system over the years where tuition ONLY goes up. While others may suffer economically during economic declines, everyone suffers EXCEPT those at the university level.

How do they do it? Well government simply took over student loans and lowered interest rates, that way students could afford higher tuition by the government decreasing interest rates. However, to make sure students could not get out of their debt, to appease universities around the country, government made sure that getting out of student debt was the most draconian of all debt. In other words, you can never be free of it and will follow you till the day you die!

However, now we have arrived at a place where interest rates can't really be lowered any further, which means fewer and fewer kids will actually go to college. Now we are looking square into the bubble of ballooning costs for our Leftists universities around the country. The answer? Free college, but we all know it's not free, don't we.

No, now they will simply print money, which will further erode the wealth Americans may already have, as America continues its decline Marx style. But at least we all now know why tuition rates are so outrageous. Government drove them up, just like they did with health care.

So why do universities enjoy such a symbiotic relationship that no other industry seems to with government? It's because the agreement with the Left wing colleges with government is, indoctrinate for us and you will be handsomely reimbursed. And any kid who will try and forgo college, we will make sure that the economy is such that they will have no future.

Secondary education needs an overhaul for the 21st century to be sure, but not by the right. Seems you have forgotten what every other country in the world knows, subsidizing education is a national investment in the future.