Free College and Discharge of Existing Student Loans

[Gman]

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.

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?

[Skip]

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?

Truth.

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.

[FoxtArt]

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.

[Justin]

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.

[Skip]

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.

I think the full implication of the moral hazard here will be "you didn't build that."

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

[MrPrena]

Full tuition for med school?
Do MSTP.

If not, they should be drenched with debt.