Warren and Schumer urge student debt cancellation of up to $50,000 for all federal borrowers

[BluesLegend]

Follow the money, it flows right into the Democratic party coffers.

Democrats, assholes that they are PREY on kids by charging them tuition the size of a f'ing home mortgage to purchase a degree. Saddling the kids with a staggering amount of student loan debt that stunts their lives financially for the next 10-20 years.

Degree prices so high no bank would approve a loan for them without that Federal government guarantee of repayment. So with the Federal government guaranteeing repayment universities are free to jack up the price of the degree, the Dem party gets it's kick back, the university sits happy on a pile of cash, the kids well they are screwed.

 

[BluesLegend]

Universities should be the ones to cancel that debt.

But then, who would fund the democrat indoctrination centers?

Funny how everyone seems to be hurting during economic hard times, EXCEPT left wing universities around the country that keep raising tuition anyway.

The money flows from banks, to the universities, to the Dem party coffers. Asshole Democrats yell and scream about prices of just about everything BUT the cost of a degree. It's total crickets on the ridiculous cost of higher education because that's a Dem party cash cow. With friends like Democrats students don't need enemies.

 

[Polishprince]

Degree prices so high no bank would approve a loan for them without that Federal government guarantee of repayment. So with the Federal government guaranteeing repayment universities are free to jack up the price of the degree, the Dem party gets it's kick back, the university sits happy on a pile of cash, the kids well they are screwed.

I don't think this is really true. Well motivated students seeking degrees in academic disciplines where there is a demand for graduates are usually good. Those in other fields can get co-signers or pledge collateral to make it worthwhile for the lenders.

 

[gipper]

Of course they do. Destroying the value of contracts will permit an escape from one's own stupidity.

Warren and Schumer urge student debt cancellation of up to $50,000 for all federal borrowers

Universities should be the ones to cancel that debt.

But then, who would fund the democrat indoctrination centers?

Funny how everyone seems to be hurting during economic hard times, EXCEPT left wing universities around the country that keep raising tuition anyway.

Most major universities are cash cows. Most with 100s $millions in cash assets.
In my opinion, it should also be illegal for colleges to build quad apartments and charge exorbitant rent, that of course, is paid by government backed student loans. Paying $800 a month for a tiny bedroom, shared bathroom and living space with 4 other students means for the size of ONE apartment - the school gets $3,200 / mo. They are making a killing, which is exactly why colleges everywhere built quad centers.

All student loan debt should be canceled. A student loan Jubilee of sorts. The benefit to our economy would be tremendous and would alleviate millions of Americans from debt serfdom.

 

[iamwhatiseem]

As a business we have a good dozen universities as a client, let me tell you about the myriad of administration staffs. Almost as a matter of fact, department heads just simply do not work. They have no idea what is going on, what their staff is doing, and are only occasionally in office. They are paid $six figure salaries, never get involved in what is going on. In my years of experience dealing with them, an average department head has a staff of 4 to 6 people plus 3 or 4 student volunteers who actually do the brunt of the work. Not even the staff work that hard.
There is so much wasted money on high paid staff... you could easily manage a university with 1/3 less staff. Easily.

 

[iamwhatiseem]

Of course they do. Destroying the value of contracts will permit an escape from one's own stupidity.

Warren and Schumer urge student debt cancellation of up to $50,000 for all federal borrowers

Universities should be the ones to cancel that debt.

But then, who would fund the democrat indoctrination centers?

Funny how everyone seems to be hurting during economic hard times, EXCEPT left wing universities around the country that keep raising tuition anyway.

Most major universities are cash cows. Most with 100s $millions in cash assets.
In my opinion, it should also be illegal for colleges to build quad apartments and charge exorbitant rent, that of course, is paid by government backed student loans. Paying $800 a month for a tiny bedroom, shared bathroom and living space with 4 other students means for the size of ONE apartment - the school gets $3,200 / mo. They are making a killing, which is exactly why colleges everywhere built quad centers.

All student loan debt should be canceled. A student loan Jubilee of sorts. The benefit to our economy would be tremendous and would alleviate millions of Americans from debt serfdom.

Doesn't address the issue of what is causing that debt.
PERIOD.

 

[JoeB131]

UIC had $2 Billion in cash assets in 2018.
CASH

Which has nothing to do with anything I said.

The U of I system has an ANNUAL operating budget of 6.5 Billion. So that 2 Billion in cash wouldn't get them through a third of the year. (Yes, U of I also includes Urbana, but you get my point.)

 

[JoeB131]

As a business we have a good dozen universities as a client, let me tell you about the myriad of administration staffs. Almost as a matter of fact, department heads just simply do not work. They have no idea what is going on, what their staff is doing, and are only occasionally in office. They are paid $six figure salaries, never get involved in what is going on. In my years of experience dealing with them, an average department head has a staff of 4 to 6 people plus 3 or 4 student volunteers who actually do the brunt of the work. Not even the staff work that hard.
There is so much wasted money on high paid staff... you could easily manage a university with 1/3 less staff. Easily.

Doesn't sound any different than the upper management of most companies I've worked for, except their salaries are in the seven and eight figures, and they are clueless as to what goes on Day to Day.

You could easily run a corporation on 1/3rd of staff, easily...

Are all your arguments this lame?

 

[BluesLegend]

Degree prices so high no bank would approve a loan for them without that Federal government guarantee of repayment. So with the Federal government guaranteeing repayment universities are free to jack up the price of the degree, the Dem party gets it's kick back, the university sits happy on a pile of cash, the kids well they are screwed.

I don't think this is really true. Well motivated students seeking degrees in academic disciplines where there is a demand for graduates are usually good. Those in other fields can get co-signers or pledge collateral to make it worthwhile for the lenders.

The facts prove otherwise. Look at the price increase of virtually anything else over the past 40 years vs the cost of a degree, it's off the charts.

 

[JoeB131]

Follow the money, it flows right into the Democratic party coffers.

Democrats, assholes that they are PREY on kids by charging them tuition the size of a f'ing home mortgage to purchase a degree. Saddling the kids with a staggering amount of student loan debt that stunts their lives financially for the next 10-20 years.

Degree prices so high no bank would approve a loan for them without that Federal government guarantee of repayment. So with the Federal government guaranteeing repayment universities are free to jack up the price of the degree, the Dem party gets it's kick back, the university sits happy on a pile of cash, the kids well they are screwed.

Again, you are confused, Wingnut.

It used to be the states subsidized the universities... Now it all comes out of tuition.

The reason why these kids spend so much on degrees is that they can't get good paying jobs without one.

 

[gipper]

Of course they do. Destroying the value of contracts will permit an escape from one's own stupidity.

Warren and Schumer urge student debt cancellation of up to $50,000 for all federal borrowers

Universities should be the ones to cancel that debt.

But then, who would fund the democrat indoctrination centers?

Funny how everyone seems to be hurting during economic hard times, EXCEPT left wing universities around the country that keep raising tuition anyway.

Most major universities are cash cows. Most with 100s $millions in cash assets.
In my opinion, it should also be illegal for colleges to build quad apartments and charge exorbitant rent, that of course, is paid by government backed student loans. Paying $800 a month for a tiny bedroom, shared bathroom and living space with 4 other students means for the size of ONE apartment - the school gets $3,200 / mo. They are making a killing, which is exactly why colleges everywhere built quad centers.

All student loan debt should be canceled. A student loan Jubilee of sorts. The benefit to our economy would be tremendous and would alleviate millions of Americans from debt serfdom.

Doesn't address the issue of what is causing that debt.
PERIOD.

Don’t care. Means nothing.

 

[JoeB131]

The facts prove otherwise. Look at the price increase of virtually anything else over the past 40 years vs the cost of a degree, it's off the charts.

I agree, but why is that?

It's because before, states funded operating expenses of universities, and tuition was often a token amount. Please note my discussion of UIC earlier in the thread, where tuition costs increased 3 times the rate of inflation. Why is that? Because the State of Illinois spent less money subsidizing its state universities.

They could shift the burden to the students because the students needed those degrees to get good jobs.

 

[BluesLegend]

Follow the money, it flows right into the Democratic party coffers.

Democrats, assholes that they are PREY on kids by charging them tuition the size of a f'ing home mortgage to purchase a degree. Saddling the kids with a staggering amount of student loan debt that stunts their lives financially for the next 10-20 years.

Degree prices so high no bank would approve a loan for them without that Federal government guarantee of repayment. So with the Federal government guaranteeing repayment universities are free to jack up the price of the degree, the Dem party gets it's kick back, the university sits happy on a pile of cash, the kids well they are screwed.

Again, you are confused, Wingnut.

It used to be the states subsidized the universities... Now it all comes out of tuition.

The reason why these kids spend so much on degrees is that they can't get good paying jobs without one.

The cost of tuition relative to the cost of anything else over the past 40 years has skyrocketed, a fact that utterly destroys your narrative. Be gone from my sight your argument is ignorant.

 

[iamwhatiseem]

As a business we have a good dozen universities as a client, let me tell you about the myriad of administration staffs. Almost as a matter of fact, department heads just simply do not work. They have no idea what is going on, what their staff is doing, and are only occasionally in office. They are paid $six figure salaries, never get involved in what is going on. In my years of experience dealing with them, an average department head has a staff of 4 to 6 people plus 3 or 4 student volunteers who actually do the brunt of the work. Not even the staff work that hard.
There is so much wasted money on high paid staff... you could easily manage a university with 1/3 less staff. Easily.

Doesn't sound any different than the upper management of most companies I've worked for, except their salaries are in the seven and eight figures, and they are clueless as to what goes on Day to Day.

You could easily run a corporation on 1/3rd of staff, easily...

Are all your arguments this lame?

Oh bullshit.... once again.
That might have been true 25 years ago, this is 2020. Corporations have cut the fat yeaaaaarrrss ago.
Bye

 

[iamwhatiseem]

Of course they do. Destroying the value of contracts will permit an escape from one's own stupidity.

Warren and Schumer urge student debt cancellation of up to $50,000 for all federal borrowers

Universities should be the ones to cancel that debt.

But then, who would fund the democrat indoctrination centers?

Funny how everyone seems to be hurting during economic hard times, EXCEPT left wing universities around the country that keep raising tuition anyway.

Most major universities are cash cows. Most with 100s $millions in cash assets.
In my opinion, it should also be illegal for colleges to build quad apartments and charge exorbitant rent, that of course, is paid by government backed student loans. Paying $800 a month for a tiny bedroom, shared bathroom and living space with 4 other students means for the size of ONE apartment - the school gets $3,200 / mo. They are making a killing, which is exactly why colleges everywhere built quad centers.

All student loan debt should be canceled. A student loan Jubilee of sorts. The benefit to our economy would be tremendous and would alleviate millions of Americans from debt serfdom.

Doesn't address the issue of what is causing that debt.
PERIOD.

Don’t care. Means nothing.

Wow...

 

[iamwhatiseem]

Follow the money, it flows right into the Democratic party coffers.

Democrats, assholes that they are PREY on kids by charging them tuition the size of a f'ing home mortgage to purchase a degree. Saddling the kids with a staggering amount of student loan debt that stunts their lives financially for the next 10-20 years.

Degree prices so high no bank would approve a loan for them without that Federal government guarantee of repayment. So with the Federal government guaranteeing repayment universities are free to jack up the price of the degree, the Dem party gets it's kick back, the university sits happy on a pile of cash, the kids well they are screwed.

Again, you are confused, Wingnut.

It used to be the states subsidized the universities... Now it all comes out of tuition.

The reason why these kids spend so much on degrees is that they can't get good paying jobs without one.

The cost of tuition relative to the cost of anything else over the past 40 years has skyrocketed, a fact that utterly destroys your narrative. Be gone from my sight your argument is ignorant.

JoeBlow argument is almost always ignorant. Got to stop answering him.
Gipper is usually decent, but in this thread... holy cow.

 

[Polishprince]

Degree prices so high no bank would approve a loan for them without that Federal government guarantee of repayment. So with the Federal government guaranteeing repayment universities are free to jack up the price of the degree, the Dem party gets it's kick back, the university sits happy on a pile of cash, the kids well they are screwed.

I don't think this is really true. Well motivated students seeking degrees in academic disciplines where there is a demand for graduates are usually good. Those in other fields can get co-signers or pledge collateral to make it worthwhile for the lenders.

The facts prove otherwise. Look at the price increase of virtually anything else over the past 40 years vs the cost of a degree, it's off the charts.

The number of Student Loan Deadbeats who don't meet their obligations varies according to both college and major field of study. That's the facts. It isn't the same across the board.

Whether you like it or not, there is information to estimate the risk to the lender.

Who Is More Likely to Default on Student Loans? - Liberty Street Economics

This post seeks to understand how educational characteristics (school type and selectivity, graduation status, major) and family background relate to the incidence of student loan default. Student indebtedness has grown substantially, increasing by 170 percent between 2006 and 2016. In addition...

libertystreeteconomics.newyorkfed.org

 

[JoeB131]

Oh bullshit.... once again.
That might have been true 25 years ago, this is 2020. Corporations have cut the fat yeaaaaarrrss ago.

Places I worked for never got the message. They all still had the same cronyism, overpaid managers, etc.

There was this one woman who was the holy terror because she was sleeping with the regional manager.

I could tell a hundred horror stories...

JoeBlow argument is almost always ignorant. Got to stop answering him.

I know, I keep making you look silly.... You keep walking into the board.

 

[JoeB131]

The cost of tuition relative to the cost of anything else over the past 40 years has skyrocketed, a fact that utterly destroys your narrative. Be gone from my sight your argument is ignorant.

Yes, it has... for the reasons I stated - Increased demand and decreased state funding.

The thing is, if there was a low-cost alternative to universities, doncha think that they'd have found something better than scams like University of Phoenix?

 

[iamwhatiseem]

Degree prices so high no bank would approve a loan for them without that Federal government guarantee of repayment. So with the Federal government guaranteeing repayment universities are free to jack up the price of the degree, the Dem party gets it's kick back, the university sits happy on a pile of cash, the kids well they are screwed.

I don't think this is really true. Well motivated students seeking degrees in academic disciplines where there is a demand for graduates are usually good. Those in other fields can get co-signers or pledge collateral to make it worthwhile for the lenders.

The facts prove otherwise. Look at the price increase of virtually anything else over the past 40 years vs the cost of a degree, it's off the charts.

The number of Student Loan Deadbeats who don't meet their obligations varies according to both college and major field of study. That's the facts. It isn't the same across the board.

Whether you like it or not, there is information to estimate the risk to the lender.

Who Is More Likely to Default on Student Loans? - Liberty Street Economics

This post seeks to understand how educational characteristics (school type and selectivity, graduation status, major) and family background relate to the incidence of student loan default. Student indebtedness has grown substantially, increasing by 170 percent between 2006 and 2016. In addition...

libertystreeteconomics.newyorkfed.org

I will say - honestly... that is rarely the students fault in full.
Working hand in hand, the government and universities provide loans no matter the students performance. Universities keep right on pushing failing students through, and the colleges keep right on getting paid. ALL so Washington politicians can brag about how many $billions in student loans/grants they give.