Posted on 02/13/2020 6:16:23 AM PST by karpov
“We need to put the responsiblility where it belongs, on the schools...”
I do understand your point, and agree the colleges pushed their product. But —so did the parents and high schools. Should all three entities cover the kid’ debts?
For me, in the end, the students (with their parents knowledge) agreed to and accepted the debt. No different than a car loan made easy for a college kid by a car dealer.
If their debt is taken away, by whomever, it’s still the message “It’s OK, you can walk. Feel better now?” and likely no lesson really learned by the student. My 2 cents.
That's complete bullshit!!!!!
So, those who were smart suffer by paying back their loans and paying higher taxes. Idiots pay nothing. Seems there is a smart tax.
Why not offer debt forgiveness in exchange for renunciation of future claims on social security retirement benefits? I’m serious. Solve two problems at once.
Yep! My post 2nagrees!
For our kids, we did parent loans for part and they got their own loans also. Ours and one child’s are paid off, other child is very close to paid. We got them (used) cars, too.
Our first child was the first in my and my wife’s family to “go off to college” at a university. That was “a thing” for us all at that time. They got a 4 year degree, but don’t need it for the job they ended up in. They now wish they’d stayed home and gone to community college for something more useful and job-centric. I suspect many wish the same now.
The second child did 1-1/2 years and bugged out, really does not like school. Doing trade OJT and cert’s now and doing well.
Sallie Mae (SLM) had quite a spike in the past few weeks, btw.
Philosophically I am in total agreement.
I am also however resigned to the fact that this is GOING to happen.
In about 10 to 15 years Millenials will comprise 50.001% of the voting bloc. In my daily encounters with them they are so wound-up and PO-ed about this subject that I guaran-damn-tee you that they ARE going to vote themselves loan forgiveness the moment they are in a position to do so.
Two factors that seem to have them all worked up about this:
1) They look at the bank bailout of 2008 and figure “Hells Bells, if THEY can get a bailout from the Feds, why in the world can’t I get one?”
2) Some of them working in STEM fields get to work and find themselves sitting next to an H1B candidate who got his degree essentially for free in his home country. To be working to pay off a debt when the government allows their employer to import debt-free candidates to compete with you just does not sit well with them.
You can be damned sure that certain industries in this country (real estate, automobiles) will lobby for loan forgiveness as they’ll be salivating for Millenials to have that extra disposable income.
It sucks, but it is going to happen I tell you.
I understand.
I think that the schools bear the majority of the responsibility and need to pay. Thru the nose.
The kids will/have learned.
The parents often are also caught, many cosigned.
It will also deflate the leftist suprmemacy in the colleges.
All to the good.
“It will also deflate the leftist suprmemacy in the colleges.”
And we need to end the leftist supremacy in our pubic schools. It all starts there, in kindergarten.
Since they are going to walk away from the debt, why not give it to them now and get something for it? Wipe out a yuuge portion of the unfunded SS liability, and give them a chance to move on with their lives.
absolutely.
If you are employed by a government or not-for-profit organization, you may be able to receive loan forgiveness under the Public Service Loan Forgiveness Program .
The PSLF Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time [at least 30 hours per week with your employers] for a qualifying -non-religious non-profit or public service-type] employer.
Qualifying employment for the PSLF Program is not about the specific job that you do for your employer. Rather, it is about who your employer is. Employment with the following types of organizations qualifies for PSLF:
Serving as a full-time AmeriCorps or Peace Corps volunteer also counts as qualifying employment for the PSLF Program.
If you are employed by a not-for-profit organization, time spent on religious instruction, worship services, or any form of proselytizing may not be counted toward meeting the full-time employment requirement.
For the purposes of the Public Service Loan Forgiveness Program, not-for-profit organizations that are not tax-exempt under Section 501(c)(3) of the Internal Revenue Code are considered qualifying employers if, as their primary purpose, they provide at least one of the following public services:
Early childhood education includes licensed or regulated child care, Head Start, and state funded pre-kindergarten.
Law enforcement includes organizations that are publicly funded and whose principal purposes include crime prevention, control or reduction of crime, or the enforcement of criminal law.
Public education includes services that provide educational enrichment or support directly to students or their families in a school or a school-like setting.
Public health includes organizations that employ nurses, nurse practitioners, nurses in a clinical setting, and full-time professionals engaged in health care practitioner occupations and health support occupations, as such terms are defined by the Bureau of Labor Statistics.
Public interest law refers to legal services provided by an organization that is funded in whole or in part by a local, state, federal, or tribal government.
A qualifying loan for PSLF is any nondefaulted loan you received under the William D. Ford Federal Direct Loan (Direct Loan) Program.
More: https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service
These Americans fled the country to escape their giant student debt
"The congressional spending bill signed by President Donald Trump contained relief for student loan borrowers who work in public service
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