Bernie Sanders announces a plan to cancel all $1.6 trillion of U.S. student loan debt.
Saw this posted soon after the announcement:
https://i.imgur.com/ISqwXxd.png
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Bernie Sanders announces a plan to cancel all $1.6 trillion of U.S. student loan debt.
Saw this posted soon after the announcement:
https://i.imgur.com/ISqwXxd.png
Why not instead just give everyone $30K to rid yourself of any debt? Debt of any kind causes the same effect that they all keep complaining about, so why not free all people? Then they always say how it would stimulate the economy, so why not stimulate it more?
Those that chose not to go to college, or worked hard to pay their way thru college shouldn't have to pay for those who went and chose take out loans instead of exploring other options.
I'd go along with an artificial intelligence medical program you could ask questions and get reliable answers about your health. Maybe sponsored by the CDC. Writing off a trillion bucks in college loans, I'm really skeptical about that. Mr Sanders is just proposing this idea for votes...
Thought the whole democratic race is about trying to promise more free stuff than the others in hopes that you will get more votes? :)Quote:
Originally Posted by BushMasterBoy
Moral Hazard.
Let me quickly enroll in school for xyz degrees on a loan. [hahhah-no]
Why are people who didn't go to college paying for those who did?
Why are people who went to college paying for those who didn’t?
Now I'm confused. I assume the meme must be referring to some statistic that more people don't go to college than those that do. I'm curious as to how the income levels and tax rates really shake out on who's paying for what though.
As to the topic at hand, college is clearly broken (in no small part thanks to the government, as usual), but erasing debt does nothing to fix the problem. People who've taken out loans they don't feel like they can pay back must take responsibility for their decisions. It IS bullshit how much college costs, but no one forced you to take those loans. Check cashing and payday loan places have interest rates up to over 1,000%. 1,000%. But no one is talking about rescuing those people.
College can be fixed, but forgiving the debt while not changing anything else is much more a complete failure than it is even a band aid approach.
^^^^ this, not having a discussion about why Tuition is so high or that it keeps increasing while “erasing the debt” is pointless. Or not allowing any more student loans. What happens with people that take new loans.
If he gets elected I might take some out just for fun.
Well, in CO they capped it at 36% with no other fees to be charged, if I can remember correctly. But that's my point, any type of debt can crush someone, so why just student debt.Quote:
Originally Posted by Irving
If the government is going to pay for education, tuitions will go up.
50% of those that go to college and don't graduate still get saddled with student loans.
Pretty amazing that the tuitions are so expensive for educations that are of such low quality.
If you want the degree, then *you* pay for it. The government has no business making student loans or using tax dollars to fund them.
You can get a credited free transferable community college courses during High school, if they are far advanced.
Sounds kind of like the medical insurance issue....Quote:
Originally Posted by Irving
Hmmm...seem to remember a subplot in a movie about eradicating debt by blowing up the banks...
http://m.media-amazon.com/images/M/M...5NzM@._V1_.jpghttp://images-na.ssl-images-amazon.c...VL._SY445_.jpghttp://dygtyjqp7pi0m.cloudfront.net/...D0392C553EE750
You can actually graduate HS with an associate's degree and even some work toward your third year of college, free, if you're smart enough and work hard enough. AP tests, CLEP tests, taking college courses in lieu of more advanced HS courses.Quote:
Originally Posted by MrPrena
My nephew in Santa Fe went to a charter school affiliated with SFCC and about 1/3 of his class graduated with AS or AA degrees in addition to their diplomas. My nephew was lazy, he only got the equivalent of a year of free college credits with his diploma.
Libs think we whine about "moral hazards" for fun, but this will have significant consequences. They are effectively teaching young people that there is no need for work. Just vote yourself money!
So what do Marxists do when they've removed the natural incentives for work? In an economy based on the government redistribution of finite resources that have to be created?
HEY! What's the FIRST RULE????? [Rant2]Quote:
Originally Posted by TFOGGER
The people pushing for this the hardest are the colleges and universities themselves.
The LAST thing they want is for people to actually apply a cost-benefit analysis to the choice of whether to go to college.
Because if people did, enrollment at colleges nationwide would probably drop 50% or more.
Once everybody has a BA, what is the value of a BA? Virtually nothing. In some industries it's already to the point where merely being a "college graduate" doesn't even open the door anymore. Unless you graduated from an ivy league school, if you don't have an advanced degree or some significant experience, your resume goes into the circular file.
IOW that BA in "communications" from Drunken State University is about as valuable as your "employee of the month" trophy from Wendy's.
Colleges and universities are the perpetuators of the biggest scam currently running in the USA - the one that says "if you don't go to college and get a degree, you won't be able to get a good job." So we have people with BA's in Creative Writing slinging coffee at Starbucks while businesses that employ technicians are having to import them from other countries in order to get their work done.
What a dope I was for paying my school loan off [facepalm]
/humor
FIFYQuote:
Originally Posted by babarsac
Well, maybe not. Perhaps from a very narrow employer perspective. But I doubt you'd ever hear someone say (not now anyway), "What's the value of being able to read if everyone else can read just as well as you?"Quote:
Originally Posted by Martinjmpr
This would be a valid analogy, if college degrees were truly about education. Sadly, college ends up being expensive daycare for superannuated adolescents more often than not, and those that want to truly learn about most things can do it without the dubious benefits of the college environment.Quote:
Originally Posted by Irving
When you can get a degree in "Puppet Arts", "Bagpiping", or "Surf Science and Technology", what's the real goal here?
This has mostly been a dumb argument and it's more tired now than ever. You can have a PhD in physics but it doesn't matter if that's not what your profession is aboutQuote:
Originally Posted by Gman
Seems like post-secondary education has become diluted. I don't think you should necessarily be a subject matter expert after a BA/BS but you should be able to hold your own. Cut out the crap courses that have nothing to do with the degree and spend that time on worthwhile courses. I am also a believer that instructors should have real world work experience.
I didn't know the first thing about the oilfield but I took a job that had me living on the rigs for the majority of every month. The pay was great and I lived like a peasant to pay my student loans off in a year. It was far from my dream job but it was a job and it opened a ton of doors to much more enjoyable jobs.
Agreed. I seriously considered minoring in Geology when I was in college. I had zero interest in geology, but it would have only taken like 2-3 more classes to get a minor. I had exactly one geology class to get me that close. I was taking other bullshit classes to fill up credits anyway and though "why not?" I went into college knowing that it didn't matter what I majored in, and never had any intention of pursuing a career in whatever major I chose. If I thought that way, I wasn't the only one; and if people go into college with that mind set, then it's kind of an issue. On the other hand, I went to the cheapest college I could and spent as little time there as possible and never had any student loans to complain about either. The types of jobs I've pursued have asked about my grades, or even where I went, exactly zero times, let alone what my major was.Quote:
Originally Posted by fj605
There are a lot of propped up industries in the world, and college is just another one of them.
This is why I like Michael Faraday. Of course he lived in different times than now, but wow.
He was too smart to even go to High school. University? He was probably laughing at Harvard and Cambridge.
I chose not to go to college so allow me to explain to you how I revel in the idea of paying for someone else's college education. Please explain to me again how their financial success helps me ultimately.
I guess they assume that because I didn't receive secondary education I'm dumber than a box of rocks and we'll fall for such nonsense. How about you just let me keep more the money I earned and I will worry about my own financial success and well-being.
Through hard work, smart decisions & fiscal responsibility I've done just fine for myself. I guess these are foreign concepts to our government.
Yes, but that's not fair! Isnt socialism about being equal. No matter how hard you do or dont work?Quote:
Originally Posted by Jer
I went to college, I have an AS and a BA. It may have taken more years, and money, than it should have. But guess what, I got a job, worked hard, and paid off the loans. I even had a decent car and a house.
These socialists just arent willing to put in the hard work it takes. They expect high paying jobs with their underwater basket weaving degrees, while also charging up their credit cards, or so claims the articles I've read.
I swear they're just racing to see who can cause a civil war the fastest. Clause I know I'm not paying for their bad choices/mistakes.
Employers aren't going to pay for those social degrees. Someone has to, because they're important for society /s
Wouldn't that be something. Paying tons of money to pay for college early in your career is explained away due to an anticipation of higher wages. Knowing the time value of money, how much value would that money have if it went into a retirement account rather than pay for college?Quote:
Originally Posted by Martinjmpr
Truth.Quote:
Originally Posted by Gman
And how much better is it to pay off that finite fixed debt tied to your own economic mobility rather than have an increasing tax burden for life that you can't control?
Some of these people have staggering debt, true. But look at gross incomes and do the math on tax increases over the lifetime of production. Taxes are biggest risk to economic security, they are effectively limitless (morally and legally). The banks will eventually cut you off and bankruptcy can offer some relief.
Education is a complete failure.
The most hilarious thing about this strategy (and if you REALLY want to take the wind out of their sails) point out who it benefits the most:
Doctors and attorneys.
They get $100,000-$200,000 in student debt paid off so they can immediately put their $150k-$500k/year salary towards super cars and mansions.
Oh, you little Antifa? You only get your $8,000 paid off. But, thanks for campaigning and then paying to give the 1%'s $100,000. [ROFL2]
It's not like the people agitating for debt relief will actually get anything out of it, other than not having to make the payments.
All of that money is going to flow to the educational and financial institutiones that made those risky loans in the first place. It's yet another bailout of organizations that privatized profits and socialized losses.
I think the full implication of the moral hazard here will be "you didn't build that."Quote:
Originally Posted by OxArt
If society is paying the Dr.'s 12 years of higher ed costs, is the Dr. still making that kind of money? Probably not. He's probably working for a single payer system at a fixed salary that is unlikely to reflect his personal investment in that profession.
Which is fine because it's not like we need to incentivize performance in medicine. <-- sarc
And there's no profession that creates a valuable service/product that can't be nationalized. <-- not sarc
Full tuition for med school?
Do MSTP.
If not, they should be drenched with debt.