Posted on 10/23/2018 7:59:46 AM PDT by SeekAndFind
Let the universities ‘forgive’ the student debt - with their endowments.
The vast majority of students having loans they cannot pay off pursued courses that were not even worthy of grade school.
No way am I willing to pay for those academic losers, so are all now members of the “dependent Democrat” party and never amount to anything. As such, they are future democrat politicians and pot users.
Now, for grads who took real courses and real subjects, but were perhaps screwed by Dorkbama the Muslim eunuch quota boy’s economics, perhaps we can come to an agreement.
If the degrees earned cannot earn enough the loans taken out to pay for them then the loans must be made dischargeable through bankruptcy.
I do not believe for a nanosecond that the universities didn’t know they were making fraudulent claims about what they were selling, and our university system is so antiquated that replacing it rather than trying to overhaul what is already there will be more efficient anyway.
Wouldn’t forgive the debt of any who were fool enough to squander student loans on a BA in queer studies or intersectional feminist literature, etc. Those teaching such classes are grifters.
This is the march toward “FREE” education for all, making it very expensive for the country to basically GIVE worthless degrees to professional students.
If one makes bad choices in life, one needs to live the consequences.
No forgiveness of loans!
What’s funny is that even the “losers” of the degree earners will have jobs under Trump, so there’s no excuse for forgiveness.
Taxpayers were on the hook from the very start of government being involved in education loans. Nobody seemed to have a problem with it until the cost of education blew out like pharmaceuticals.
Already, tuition rates are ridiculously high and climbing higher by the year, far higher than normal costs of living increases would predict. All sorts of added expenses are now mandatory to pay for campus gyms and other perks. Not to mention the costs of maintaining a host of grievance studies majors. Colleges and universities have had no problem hiking tuition rates and fees knowing that students and their parents can “simply” take out loans. If colleges know that their students’ loans will be forgiven in the near future what is to stop them from increasing college costs at even higher rates? Absolutely nothing. It will become a selling point for colleges to encourage even a higher rate of student loans.
I’m not sure if this applies to student loans, but I imagine it does: In general, federal law bars persons who default on U.S. government loans from receiving further financial assistance.
Student loans are one benefit specifically denied under the law to those who cause a loss to the government on direct or guaranteed loans for businesses, farms, houses and other purposes. So anyone who doesn’t repay student loans may not be able to rip off the government a second time.
Small consolation, but at least it will help make their lives harder — just as their deadbeat habits make things miserable for the rest of us, who pay their bills.
We could see this coming for a long time now. Made to order for the Rats.
Bribe millions with forgiveness of student loan debt. Colleges keep raising tuition to pay inflated Rat professor’s salaries then once millions are shackled with huge student loan debt the Rats say vote for us and we’ll free you.
This was the ultimate reason for making all student loans through the federal government.
I agree. Money-back guarantees on degrees that are worthless.
That in turn was made possible by the bizarre and unique property of student loans as being non-dischargable. All the risk was offloaded to the public by doing that.
There’s no way 18-year-olds should be regularly getting 5- and 6-figure loans for education. That part is simply unsustainable and lies at the root of the problem. The university system has turned into a system of extracting the financial futures of students for the benefit of bureaucrats and financiers and no longer serves its alleged primary function.
watch Rob and Vangie debate Virgina house 1. I happened upon it. She’s good acting and sway people, but as I listened every answer was “we deserve better” and blame placing. Rob wasn’t real substantive in answers either mostly said he has a record of..... which she kept bringing up supposed facts of monies he takes and things he voted against etc. She will be another Maxine (expect the govt to do all) type if she gets the seat.
She seemed to think she would get to congress and get medicare Plus Plus for all, college incentives, combine broad band expansion with other underground work on infrastrucure and lots of other great things for people but she gave no way to pay for or how she would be able to get others to vote with her to approve any of it. she came across as a frustrated “mother of 6 girls” who has all the answers but really is clueless imo.
In particular, out of the endowments of the departments that offered the majors these people took that they subsequently couldn’t repay.
Let the “disciplines” that aren’t marketable learn that they have to pony up for encouraging kids to waste money they didn’t have.
This is the key point. In the first place, allowing un-secured debt that cannot be discharged by bankruptcy amounts to a government subsidy to money lenders and fraudulent sellers. More importantly, it is creates a moral hazard to civilization by creating a class of people who can be manipulated by worthless debt. Or should we say enslaved by debt? As well, we were manipulated into subsidizing the worst of academia.
It may be a bitter pill to some. However, arguing that people went into these loans with eyes wide open is a false premise. They were manipulated into believing it was proper and according to the status quo. To allow this to continue is to more deeply institutionalize the fraud as a fundamental part of society...
I wish conservative publications would not buy into liberal language when writing these articles. No one is "forgiving" loans. Its a plan to shift payment of the loans from students who benefited from the education to taxpayers. Or worse yet, future generations by incurring more debt.
Yep, the public assumed the risk, the ignorant students were tagged with the responsibility, and meanwhile the lenders and the schools profited. The whole thing was a was a manipulation from the get-go. Making the debts dischargeable would have secured the integrity of the lenders and the schools without any need for vast bureaucracy and legislation. At this point, we can make a credible argument that discharging the debt is either a public good for the original premise or a public good for reforming an utterly corruptible institution and giving the public a well deserved bitter taste of socialist folly.
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