Posted on 03/10/2020 5:14:35 AM PDT by CheshireTheCat
...All university endowments over $1 billion in size should pay their fair share in taxes to pay off student loans. A 25 percent–per-year tax on these tax-subsidized behemoths can go towards helping deal with the student loan crisis.
Any student attending a college with an endowment of greater than $1 billion is ineligible for student loans or federal student grants or scholarships. The combination of these two items will force the relevant universities to use their endowments to help students out rather than hoarding the money...
(Excerpt) Read more at americanthinker.com ...
Paupers prison is another approach. Loans only for careers that actually exist is another approach. Business, law, medicine etc.
Undo the bill that Biden voted for. Put student loans back under the bankruptcy code. Problem solved.
Hey now the Howard Zinns of the indoctrination centers need golden parachutes too.
BIGGER GOV idea: Forget about chicken $ student debt slaves repayment. Take over ALL home lenders stuff. Let’s make some REAL bank MOFOS. Competition??? That is so last millennium.
Oh...and while I’m rantin’...here’s another. I waited 3/12 hours to get a license plate (for a very used car I had purchased) at the Secretary of Socialists here in Michigan. People were REALLY ticked. Better get some armed guards in there...or would lack thereof serve another agenda. Just saying’. See something, say something. Right?
#innocentvictims
Fund research, etc.? Or pay extravagant salary packages to the people at the very top and practically nothing for classroom maintenance (my experience)?
Liberty University has an endowment of over $1.3 billion. Falwell would not be please.
No, those who took the loans don’t need to have them paid off by someone else—especially by government fiat. What we need to do is to simply stop giving out student loans from the government. Go back to letting lenders make any loans they think are good and will be paid back. (E.g., for med school or engineering)
Oh, and we need to scrap our current public schools and start over with modest programs to teach reading early and phonetically.
Unless you are getting a degree in law, engineering, science or medicine...I don’t see the logic in loaning a ‘kid’ more than $25,000 for college. Someone ought to spreadsheet-out a listing that says if you choose a loser-degree that only gets you $35k a year, then you max out at $15,000 for the four-year period.
One observation...an electrical engineer, just getting out of college...can expect a starting salary of $68k a year, and within five years....probably will clear $90k or more a year. That’s the kind of person that I could see loaning $70-odd thousand to wrap up a degree. But why even borrow that much? You could do two years of a community college, living at home....then do two years of a state public college, and get the electrical engineering degree for $40k to $50k.
Have the universities refund the tuition and fees for offering a useless overpriced product. False advertising laws need to be put to use
Oh...and just one more thing BIG GOV. Open up another bureaucracy The DEV...Department of Electric Vehicles. With golf season coming up. DEMAND that those old duffers who make it past elimination viruses have a Golf Cart License. The fee could be graduated based on money saved in the bank. Some of those zombies are scary. They even try to multi task on their iPhones. FOUR!!
/rant
One place to look at university trust funds are the stories written by Michael McDonald at Bloomberg and his coverage of Harvard Investments.
This would also assure that the universities would give student loans only to students that would actually be likely to graduate and that the loans would only be in course work that likely results in jobs.
The biggest fix would be to have the college co-sign the loan (or even make the loan in the first place). If the student doesn’t pay, the college is out the money.
We would immediately see universities tighten admission requirements to exclude people who are unqualified to be in college, and eliminate courses and majors that don’t actually prepare students to earn a living.
Great minds think alike
I 100% agree. I think one can easily trace the amount in student debt to the cost of tuition et al to obtain a degree. STOP the madness and STOP putting out government insured loans. Costs will go down quickly or collegescams will have to fund the exhorbantant salaries of administrators and professors out of their endowments. Case solved. Indebtedness will drop as nothing is heaped onto the government guarantee and if not, it will be expunged when the debtors die. BTW, one additional thing they could do is offer a program that the loan will be paid off if one pays off the original balance, not the penalties and fees with a one time payment. The loan originator gets their money back and gets to claim the excused accrued interest as a loss.
Interesting I didn’t know that. Also, the average debt students end up with comes out to about half a car loan. Add all that up and it’s a big number, but for most it would be manageable if we hadn’t convinced them they deserve to have it vaporized for them.
Still, get the taxpayer out of funding the largely ineffective, indoctrinating and overpriced college educations of others!
NOT ONE CENT OF TAX MONEY TO "PAY OFF" STUDENT LOANS!!!
I saved and paid for my children's educations, so why should I pay through my tax dollars for someone who wouldn't do the same?
Congress has made it difficult if not impossible to discharge student loan debt through bankruptcy.
We need to change the law to make it easy to discharge student loan debt through bankruptcy. By doing so, the loan lenders will have skin in the game, loan eligibility requirements will become stricter and schools will need to be more competitive in pricing because the flood of "guaranteed" loan money will contract.
Under the current system, the banks have no incentive for prudence in lending to students because the student cannot discharge the debt. The schools have no incentive to hold down costs because easy and abundant loan money is available to students.
But not federally-funded loans.
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