Why not forgive car loans too?
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Why not immediately and totally turn the everything upside down and start over?Why not forgive car loans too?
Investment in what? How does someone getting a degree help society? Unless they are in a field that is in demand, that can create innovation for everyone, a degree is largely a way for the student to earn a higher income for themselves.It is not free education, it is investment education.
I would say what happened with the housing industry in 2008 would indicate otherwise. The banks got greedy, gave people loans for houses they damned well knew they couldn't afford. Or you can look at the For Profit Universities that cheated thousands of poor kids who couldn't make it into a real college, and they are still going after those people for debt.
I trust the government a lot more than I do the banking industry...
But only because no one regulated the pricing.
I think it would be interesting do do an audit to find out where all this money goes.
The banks got greedy, gave people loans for houses they damned well knew they couldn't afford
I don't think it will really be inflationary. But it will largely be a give-away to privileged, well educated, strong earning white people, while lesser educated and lower income minorities will be left behind, even positively hurt, as a result as wealth disparities are amplified and increased.
After being elected into power on the votes of black women, the Democrats shit on minorities. Surprise level zero.
You do know that once a mortgage is signed that the money doesn't really come from anywhere..... the Treasury produces New Units that electronically appear in the seller's bank account. Unless the whole thing is a 100% cash deal.
I'd say it wasn't about people who bought houses they couldn't afford, it was about sub prime adjustable mortgages that were great, until those rates went up, and then people's payments skyrocketed.
Ok, the housing crisis was a problem, and yes, it could have been avoided given better lending practices, and I can see what you are saying about private lenders being similarly greedy, but, still, government loans have been one of the factors to increased tuition, considering that 90% of student loans are government backed, I'd say they are a large part of the reason.Um, okay.. whatever.
Only part of the problem. The problem was the banks never should have written many of those loans. But they figured with an inflationary housing market, they could foreclose, keep the downpayments, and still collect all the interest... and it worked fine, until the values of those properties crashed.
When the federal government loans more taxpayer money, schools raise their rates.
The research shows federal aid has a strong tie to tuition in one sector: private, for-profit colleges
The evidence? For-profit colleges where students can pay using federal aid have much higher tuitions than those schools that can't accept aid, according to a 2014 study.
In fact, researchers Stephanie Cellini and Claudia Goldin found that the difference in tuition between the eligible schools and the less expensive, non-eligible schools was about the same as the federal aid students received.
Profting like big dogs
The government GUARANTEES repayment not subject bankrupcy...at market rates.
Jesus you can't FIND a better scam for banks
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I don't consider a college that pumps out 90% of its graduates as social engineers an improvement in our economy and quality of life.
*****SMILE*****
Quality of life for who? Me? Or the student? How does it improve my quality of life if someone else gets an accounting degree or a business degree and goes off in life to make a good living? It benefits them, but unless they get a degree in one of the stem fields and has some ground breaking discovery, it doesn't affect my life in the slightest.
As far as increased productivity, that's not necessarily true. It depends on what your degree is in. If you get a degree in art history or philosophy, your productivity impact is going to be quite limited to the rest of the world, whereas a sanitation worker or road construction crew will have a much bigger productivity impact, without a college degree. .
Now, I do understand that we need to be able to keep up with the rest of the world in education, bit we need to do it in the right areas. Also, we need to look at why other countries can offer low cost, or free college. What factors play into why they can do that, as opposed to why we can't. We're already taxed highly here in the states, and the government keeps finding ways to take more, so, when they start wanting to give free education to people, it tends not to set well.
I would say what happened with the housing industry in 2008 would indicate otherwise. The banks got greedy, gave people loans for houses they damned well knew they couldn't afford. Or you can look at the For Profit Universities that cheated thousands of poor kids who couldn't make it into a real college, and they are still going after those people for debt.
I trust the government a lot more than I do the banking industry...
But only because no one regulated the pricing.
I think it would be interesting do do an audit to find out where all this money goes.
Um, okay.. whatever.
Only part of the problem. The problem was the banks never should have written many of those loans. But they figured with an inflationary housing market, they could foreclose, keep the downpayments, and still collect all the interest... and it worked fine, until the values of those properties crashed.
Ok, the housing crisis was a problem, and yes, it could have been avoided given better lending practices, and I can see what you are saying about private lenders being similarly greedy, but, still, government loans have been one of the factors to increased tuition, considering that 90% of student loans are government backed, I'd say they are a large part of the reason.
Maybe the government can give some sort of incentive for private lenders to offer fixed low interest student loans with reasonable repayment options? An incentive that can't be abused. I just think anything with the government attached to it causes problems, because schools have no incentive to keep costs low if they know the government will pay whatever they charge.
Does More Federal Aid Raise Tuition Costs? Not For Most Students, Research Says
Experts say there isn't solid evidence that federal aid drives up college prices, except in one sector: for-profit colleges.www.npr.org
Ok, the housing crisis was a problem, and yes, it could have been avoided given better lending practices, and I can see what you are saying about private lenders being similarly greedy, but, still, government loans have been one of the factors to increased tuition, considering that 90% of student loans are government backed, I'd say they are a large part of the reason.
Maybe the government can give some sort of incentive for private lenders to offer fixed low interest student loans with reasonable repayment options? An incentive that can't be abused. I just think anything with the government attached to it causes problems, because schools have no incentive to keep costs low if they know the government will pay whatever they charge.
Does More Federal Aid Raise Tuition Costs? Not For Most Students, Research Says
Experts say there isn't solid evidence that federal aid drives up college prices, except in one sector: for-profit colleges.www.npr.org
Why not forgive car loans too?
Investment in what? How does someone getting a degree help society? Unless they are in a field that is in demand, that can create innovation for everyone, a degree is largely a way for the student to earn a higher income for themselves.
What about those who weren't able to go to college for whatever reason? They get to pay for those that did?
Um, okay.. whatever.
Only part of the problem. The problem was the banks never should have written many of those loans. But they figured with an inflationary housing market, they could foreclose, keep the downpayments, and still collect all the interest... and it worked fine, until the values of those properties crashed.