University endowments should cover bad student loans (Poll)

[kyzr]

Universities peddle degrees that may or may not be worth the cost.
Therefore, universities should be liable to cover student loan defaults. Since they make money on tuition.
Universities need to take responsibility for their products and their accepted students, NOT THE TAXPAYERS!!

List of colleges and universities in the United States by endowment - Wikipedia

en.wikipedia.org

We need a new LAW that puts university endowments on the hook for student loan defaults, to be reimbursed as the loans are paid back over time.

The endowments pay the bad student loans so the Federal Budget does NOT have to borrow more to cover them.

 

[ActionJackson]

Workers should NEVER be forced to pay for the bad decisions that others make. If you can't pay your bills, don't sign the contract.

 

[Polishprince]

If colleges had to co-sign for their student's loans, they'd be a lot more selective as to who they gave the loans to.

 

[Polishprince]

My guess is that a college would be a lot more anxious to co-sign a $100,000 note for an oriental kid with a 1500 SAT score studying electrical engineering or proctology, than they would for an Affirmative Action black kid from the hood with an 650 SAT score, in Gay Studies.

And that would cause a lot of grief from the faculty in those kinds of departments.

 

[1srelluc]

Harvard has a 41 Billion endowment fund.

I hope the coming lawsuits trims that down a bit.

 

[Resnic]

Universities peddle degrees that may or may not be worth the cost.
Therefore, universities should be liable to cover student loan defaults. Since they make money on tuition.
Universities need to take responsibility for their products and their accepted students, NOT THE TAXPAYERS!!

List of colleges and universities in the United States by endowment - Wikipedia

en.wikipedia.org

We need a new LAW that puts university endowments on the hook for student loan defaults, to be reimbursed as the loans are paid back over time.

The endowments pay the bad student loans so the Federal Budget does NOT have to borrow more to cover them.

Nope. You take a loan, it's your responsibility to pay it back and no one else's.

If you get a degree that's worth it or not is the students decision. They know what they want, they see the contract to take on the debt for it, and they sign it agreeing to it. All the school does is say "hey we have these degrees" then potential students have to go to the school and sign up on their own.


Saying someone should pay off someone else's debt is insane. I took on debt for my car and house, who is going to pay for that? Oh that's right, no one except me.

 

[percysunshine]

If colleges had to co-sign for their student's loans, they'd be a lot more selective as to who they gave the loans to.

They would also have to lower tuitions and get rid of the massive administrative bureaucracies created by all the free government money.

 

[MarathonMike]

It shouldn't be called "loan forgiveness" it's a re-negotiation. You can settle a credit card debt for a fraction of what you owe. You should be able to re-negotiate with the college(s) that gouged you.

 

[TroglocratsRdumb]

Universities peddle degrees that may or may not be worth the cost.
Therefore, universities should be liable to cover student loan defaults. Since they make money on tuition.
Universities need to take responsibility for their products and their accepted students, NOT THE TAXPAYERS!!

List of colleges and universities in the United States by endowment - Wikipedia

en.wikipedia.org

We need a new LAW that puts university endowments on the hook for student loan defaults, to be reimbursed as the loans are paid back over time.

The endowments pay the bad student loans so the Federal Budget does NOT have to borrow more to cover them.

that is a great idea

 

[Independentthinker]

Universities peddle degrees that may or may not be worth the cost.
Therefore, universities should be liable to cover student loan defaults. Since they make money on tuition.
Universities need to take responsibility for their products and their accepted students, NOT THE TAXPAYERS!!

List of colleges and universities in the United States by endowment - Wikipedia

en.wikipedia.org

We need a new LAW that puts university endowments on the hook for student loan defaults, to be reimbursed as the loans are paid back over time.

The endowments pay the bad student loans so the Federal Budget does NOT have to borrow more to cover them.

I think you US needs to quit backing questionable student loans instead of rubber stamping everything.

 

[Dekster]

Universities peddle degrees that may or may not be worth the cost.
Therefore, universities should be liable to cover student loan defaults. Since they make money on tuition.
Universities need to take responsibility for their products and their accepted students, NOT THE TAXPAYERS!!

List of colleges and universities in the United States by endowment - Wikipedia

en.wikipedia.org

We need a new LAW that puts university endowments on the hook for student loan defaults, to be reimbursed as the loans are paid back over time.

The endowments pay the bad student loans so the Federal Budget does NOT have to borrow more to cover them.

Force schools to charge loan borrowers no more than the cost of instruction as tuition and fees; don't cover living expenses at all; set interest rates at a flat rate for all borrower. People talk about "Well you signed the loan", the reality is you don't know what your interest rate will ultamately be until you consolidate. For some borrowers it may be 2.4 % for another it might be 9.5%. Just depends on when you did it and where the fed rate was at that time. That is one of the ways Biden is screwing people who are just now getting into the Ford loans when inflation is so high just with the hope they will get some forgiveness. These borrowers might be going from 4% loans to almost 8% loans. That is undoubtedly why they are agast that so many borrowers haven't switched programs. It is economic suicide if you end up underwater on your payments and nothing happens which so far, virtually nothing has happened unless you are a government employee or went to the Devry Institute of Underwater Demolition & Flag Man Training

 

[SassyIrishLass]

Deadbeats should pay for their loans... them and nobody else.

If they refuse then let the chips fall where they do

 

[kyzr]

Nope. You take a loan, it's your responsibility to pay it back and no one else's.
If you get a degree that's worth it or not is the students decision. They know what they want, they see the contract to take on the debt for it, and they sign it agreeing to it. All the school does is say "hey we have these degrees" then potential students have to go to the school and sign up on their own.
Saying someone should pay off someone else's debt is insane. I took on debt for my car and house, who is going to pay for that? Oh that's right, no one except me.

1. If you don't make payments on your house or car they can be repossessed and re-sold.
2. Paying big bucks for an education has risks that the university should share. Is an Art-History degree worth borrowing $200,000 for? Maybe if the universities counseled applicants as to job and salary expectations the student would make a wiser career path.
3. As it is now, universities charge big bucks, the kids sign for the loans, then they default, then the taxpayers get fucked. Universities need to take responsibility for student loans.

 

[kyzr]

I think you US needs to quit backing questionable student loans instead of rubber stamping everything.

Exactly. The universities have no skin in the game. The kids get their degrees and then get hammered by their student loans.
There may be better career paths than an expensive (unaffordable?) degree.
The universities need to look at the job market anmd work with industry to show what good paying jobs are out there.

 

[kyzr]

Force schools to charge loan borrowers no more than the cost of instruction as tuition and fees; don't cover living expenses at all; set interest rates at a flat rate for all borrower. People talk about "Well you signed the loan", the reality is you don't know what your interest rate will ultamately be until you consolidate. For some borrowers it may be 2.4 % for another it might be 9.5%. Just depends on when you did it and where the fed rate was at that time. That is one of the ways Biden is screwing people who are just now getting into the Ford loans when inflation is so high just with the hope they will get some forgiveness. These borrowers might be going from 4% loans to almost 8% loans. That is undoubtedly why they are agast that so many borrowers haven't switched programs. It is economic suicide if you end up underwater on your payments and nothing happens which so far, virtually nothing has happened unless you are a government employee or went to the Devry Institute of Underwater Demolition & Flag Man Training

EXACTLY! I like the German model where kids are shown training as well as degrees. Then there are low cost community colleges to start out instead of 4-expensive years.

 

[kyzr]

Deadbeats should pay for their loans... them and nobody else.
If they refuse then let the chips fall where they do

They'll live under a bridge or sell drugs. Lose-Lose.