Posted on 04/07/2016 7:32:53 AM PDT by SeekAndFind
I’ve tried my hand at doing taxes for people. I had clients with offsets for alimony, child support, and a few other things. I think I had one person with an offset for student loans.
But if you simply made it a rule that no one got a refund while they had student loan debt, a lot more would be collected.
But the REAL problem is the uncontrolled cost of college, funded by uncontrolled lending and spending by the government. The people making the loans have no incentive to ask, “Is there any chance in hell of this loan being repaid?” Tax credits like the American Opportunity Credit - good for up to $4,000 back - are just another way to pour money into overpriced colleges providing worthless degrees.
I wonder if they’d continue to blame Bush three years into the next Democrat presidency.
The University of Phoenix never forced anyone to go to college. They are the Amway of colleges. They don’t sell degrees; they sell dreams. Dreamers are always looking for an easy big score.
Dreamers run up $70k in college loans and then they decide they don’t want to pay the loans back because they didn’t get that dream they promised themselves.
the problem is that a lot of loans were given out to individuals that did not get educated. when you provide loans that are guaranteed to people that have no history on how they deal with bill payment or even there small loans s you will get people that never intend to pay off there loans along with those that after rent and food do not have the money at the end of the month to make payments. we need to scrap the whole student loan program and treat loans for education just like any other loan. the idea that some one can take out 40,000 in loans and not have it tied to anything with equity is insane along with the idea that the loan can not be retired through bankruptcy. all we have done is create a massive house of cards that will collapse eventually.
B I N G O !!!
Remove what the ding-a-ling occupying the White House did to the student loan program.
Of course, they would! Anything a Dem says is accepted as truth at face value by their Media and those that follow them. Everything wrong in this country is laid at the feet of Republicans......and will be for the foreseeable future, or at least until our children are awakened to the indoctrination that has been ongoing in education for decades.
Even this article doesn’t go back far enough.
The real root of the issue is that the government took over the student loan business. In doing so, they created lots of “easy money” that anyone could get for college. By making it so easy to use other people’s money for frivolous pursuits like underwater basket weaving majors, they found that (because nobody buys underwater baskets any more) the students wanted to take the money then wipe the ledger clean.
So, in order to not have the program become fraud against the taxpayers, the government decided to make this government debt non-dischargeable. Sometimes politicians find that acorn, after all.
Get the government out of the student loan business. Make college students find their own way to pay - whether through military service, private loans, scholarships, or out of pocket - and you will find that the plethora of special snowflakes going into special snowflake majors will decline precipitously. Those who need college to pursue their vocation will continue going, but they will have to demonstrate better ability to succeed in order to get the private money. College lenders will have to become better judges of what is worthy of lending in order to not lose their shirts because nobody buys underwater baskets any more.
Find the deadbeats and draft them.
4 years of cleaning latrines and KP ought to do it.
L
Nope but one of them still believes that it will happen someday.
“We sold them an education as we were offshoring the jobs to China.”
If only they had received a classical liberal arts education as understood 100 years ago. Instead they received a modern socialist brainwashing.
One of the greatest failure of modern “education” is the absence of virtue. Instead of being taught the importance of shared values in a culture, respect for others, and responsibilities of citizenship, students in western universities are taught a secular view of moral relativism. There are no absolutes in this view of the world except the absolutes imposed by the state. When each individual defines his or her own morality, there can be no virtue.
As a result today our nation no longer has a shared sense of decency and view of citizenship. Students are no longer taught to be accountable. In the world of today’s academics it is easy to blame others instead of learning from one’s failures and striving to do better. Our current president is the shining example. He has never taken responsibility for the consequences of any of his policies or the activities of his administration.
We were a nation of laws, and law abiding citizens, when we had fewer laws but a shared cultural understanding of right and wrong. Today we have many laws, no common sense of right and wrong, and much lawlessness. We no longer share the the belief all men (and women) are equal before the laws. There are thousands of laws granting special privileges to individuals, groups, organizations, classes of people, etc.
We are now transitioning to an era where it seems normal for the President and his staff to pick and choose which laws they will enforce and which they will ignore. We are now in a land where the elected and unelected members of government are exempt from prosecution. It is ironic the leftists who impeached Richard Nixon in the 1970’s for his lawlessness, now applaud the current occupant of the White House for lawless actions Nixon would not have dared to attempt.
The fact that 40% of college students have walked away from their loans is testimony to an absence of civic duty, personal responsibility, and respect for the law. Unfortunately the statistics indicate at least 40% of those who took out loans learned their lessons well.
I like that approach.
RE: Jobs. We sold them an education as we were offshoring the jobs to China.
You don’t need a college degree to make Nike Shoes or Assemble an iPhone.
Exactly. Not good. It is clear who Obama favors — government workers at the expense of private sector workers.
There is no altruistic motive behind the program.
My son has a big loan to pay off, and while there were periods of low or no income he always communicated with the lender and always set up a payment plan within his budget when he got employment.
A way to put it in perspective — how much is a typical home mortgage ~ $300K. Tuition/Room and Board can be this high for a private school. Less if you shop around and even less if you go to a community college. Still, it can be close to $100K for a typical college.
Anyway, a #300K home mortgage usually takes 30 years to pay off!
Thirty years!!
That means that your typical student will still be paying the loan when they are in their 50s. And forget about getting a home loan with this kind of debt.
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