Posted on 08/02/2019 10:57:45 AM PDT by Brian Griffin
1. Limit new federal student loans to:
a. $15,000/first, second, third, fourth year - college education on a state/regionally/nationally accredited engineering track or domestic licensing/certification law teacher/nursing/physician assistant track,
b. $8,000/first year - general college education,
c. $10,000/second, third, fourth year - general college education,
d. $5,000/additional year, but to no more than $40,000 for any student in total student loan indebtedness - undergraduate college education [students taking more than four years to graduate]
e. $12,000/additional year - general college education, four-year college degree already earned by the student,
f. $25,000/first/second/third year - bar acceptable, state/regionally/nationally accredited law school education,
g. $40,000/year - domestic licensing law acceptable, state/regionally/nationally accredited dentist/medical doctor education.
2. The yearly limits of shall be adjusted for inflation as are federal income tax rate thresholds.
3. Reduce the yearly limits by the higher of:
a. 20%, if the college has in the prior academic year frequently been unable to timely provide its students with courses needed to graduate in the normal timeframe to earn a degree,
b. the percentage of federal loans previously granted to the college that were in default/deferment, as determined by the federal Department of Education, at a time within the past year.
4. Semester loan limits shall be half of the yearly limits.
5. Term loan limits shall be the yearly limits divided by the usual number of terms per academic year.
6. Require colleges, and their holding companies, to co-sign associated new student loans, if federal or if federal bankruptcy student loan exemption is to be applied.
7. Limit future federal loan originations for attendance at any educational institution to the value of real property (and half that of third party publicly traded securities) fully secured to the federal Department of Education as collateral.
8. Allow new private student loans signed or co-signed by a person at the time of issue related to the student by blood, adoption or guardianship to be subject to federal bankruptcy discharge ten years or more after issue, excluding deferment periods, less:
a. one month per 1/10th interest rate percentage above four,
b. one month per 1/100th of the net loaned amount in debt add-ons, such as points, fees and charges.
that I paid
A BAD CYCLE easy loans drive up the cost of education, requiring more loans.
no government student loans to colleges which have large endowment funds.
not everyone should go to college, increase qualifications for 4 years schools.
“If you can crawl into a public library you can learn enough to be a nuclear physicist ... if you have the desire and drive ... “
Public libraries are almost void of that technical information.
“the Constitution does not permit the government to confiscate my money and lend it to someone else.”
I got eight National Defense Student Loans myself.
The Congress has the power to raise armies and fund a navy.
Armies and navies need weapons.
I was educated to build weapons, and other stuff, such as command & control communications systems.
You are recommending price controls. In short, price controls dont work, so .... no.
“Simply make the college co-sign for 50% of a students loan.”
And colleges might double their tuitions.
That works for me.
All that is needed is to remove Taxpayer Guarantee’s, and hold Education Institutions financially accountable for any defaulted loans for a degree in Advanced Under Water Basket Weaving, Lesbian Dance Theory and Asian Bi-Sexual Studies....
“I have been thinking about this and came up with this:
Let them wipe it out with bankruptcy, And the Government will pay 1/3 of the loss and the bank eats the rest.”
Time to rethink. The fed is the banker which means you are the banker and will have to eat the whole pie.
“You are recommending price controls. In short, price controls don’t work, so .... no.”
Most of the middle class own their own house. A mortgage can be obtained on it. Parents can establish college savings accounts.
Lower income folks can earn scholarship money.
Hundreds of thousands of people in New York City are quite happy with rent control and their apartments.
The renters in Stockholm are quite happy. Can you guess why?
“So wed be back to only the rich going to college? Brilliant!!”
Ronald Reagan went to college, without getting any federal student loan money. I believe it was during the Great Depression.
We ate up the bailout of the bankers, that cost even more. This is going to affect our culture when an entire generation or two is in indentured slavery.
https://www.youtube.com/watch?v=pUanS5OWy_k
A whole generation waiting to get marred, buy a house, a car, etc. It will not be a good thing. And they really were hoodwinked.
I should also mention that not all of them will file bankruptcy.
I completed college, and I was/am by no means ‘rich’.
I just worked my a#@ off
I didn’t mean the books. I meant internet access. Many of the largest universities make recordings of their lectures available to the public.
“you are ignoring the aspect of ‘why does it cost so much?’
Miss Middle Class overpays so Miss Other Side of the Tracks pays much less, or nothing at all.
You write like a lawyer. And by that, you include lawyer on a peer basis with med students.
By the time med students graduate nowand work through their residency, the boomers will be dead and the whole system will be changing again.
Colleges are going to fail, based on nothing else than demographics. There is no reason to make college more attractive to anyone. There is no need for the government to subsidize anyones education.
Everyone seems to be afraid to say, let the market work.
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