Posted on 10/28/2011 9:41:28 AM PDT by stillafreemind
Maybe the problem is that kids are not taught personal pride and responsibility. Nowhere does the constitution say that your college loan must be paid for by the government. The pursuit of happiness means that you have the opportunity to succeed, not a guarantee that you will.
The country and the world are in upheaval. You think if you make noise and cause havoc you can get your way. Good luck with that, you are adults now, take a shot at being one.
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"If he thinks college is expensive wait 'til he pays for a divorce."
I say, Forgive all student loans!, just as soon as I finish three years borrowing for a private MD degree.
Have the college get the bill if the student defaults due to being unable to find a job. Overnight, colleges will stop accepting students who don’t belong in college, and will stop offering majors that will not lead to a job (except if you’re rich and paying cash).
Not forgiven. But college loans should be able to be discharged in bankruptcy. Both sides need to pay for their mistakes. The borrower for spending money on ineffective education, and the lender for providing financing without regard for demonstrated ability to repay. Return the risk.
To me this is very similar to the mortgage debacle. A huge number of folks never should have bought houses and never could have qualified for them without the Feds getting involved. That in turn jacked up the prices and caused the bubble.
Same with the government backed student loans - cheap money just drove up the inflation in tuition costs and too many kids who would be better off going the vo-tech route chose to go to college.
But at the end of the day, you’re responsible for your choices and your debts.
I like your idea. Even better would be to get the government out of the loan business completely and let the private sector base their loan rates on marketability.
You want to major in nursing or mechanical engineering? Fine. Your rate is 5%.
Business? Maybe 7%.
Women's studies? Maybe 45%.
Sign me up with the dinosaurs.
If anything, getting a college loan should be made harder. And it should for limited degrees (like no loans for teaching degrees, law degrees, womyn’s, black, or other ethnic studies, English degrees, etc.).
What we need instead is a better vocational school system.
Our whole system of education has become nationalized by the take over of student loans by the government.
And the housing market is near to being the same.
Nationalized by Fannie and Freddie, and not a single vote by any congressman to do so.
This nation is NOW under SOCIALISM.
Thinking that paying back anything is old school now.
It will be loyalty to the state that will matter from here on out.
Wake UP!
This nation is already lost, and taken over!
Do you think capitalism still exists in this nation? Really?
“If he thinks college is expensive wait ‘til he pays for a divorce.” - Rush Limbaugh
“Instead of getting married again, I’m going to find a woman I don’t like and just give her a house.” - Rod Stewart
This is reasonable provided:
1. they are only forgivable in bankrupty.
2. only forgivable after 5 years of last graduation. (go back to school and 5 years resets)
3. Universities which have a excess of graduate bankruptcies become ineligable for student loan recieving.
OPTIONS:
-only certain degrees are forgivable. Hard science, engineering, big traditional degrees like history, literature, music. Junk degrees like startrekology, [insert interest group] studies, sociology, folk dance, protesting methodology, fungineering, no forgivness or loans.
-those who produce children in marriage (no alternative lifestyle (deathstyle) marriages) can have extended deferments or auto loan payment modifications.
yet millions of young people go to trade school, or the military, or farm, or ranch, or otherwise start working and paying taxes....HOW do they get the same benefits from our govt?....WHO is going to make it even steven for them?
So, they can't find a job or can't find a job they think they should have so we're not paying?
Any excuse not to pay seems to be all the rage.
Sure!
Just have the colleges and universities refund the money.
Ditto. The threat of complete discharge in bankruptcy would immediately cause debt holders to create better deals, and would immediately reduce the foolishness of loaning big money to the immature and ignorant.
Perhaps a law that prevents discharge in bankruptcy seven years after the debt becomes payable, but able to be discharged thenafter.
After they forgive our tax debt.
Or will I be punished again for being responsible, like buying a house valued at on half of what I qualified for and demanding a fixed rate mortgage rather than an ARM that would put me under water in 5 years budget wise.
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