Subsidizing college is bad enough, but why are we subsidizing graduate school? College graduates should be able to save for graduate school and/or get funding from their school, not rely on taxpayers.
Bullshit!
Perhaps some of these people are $150,000 in debt because they have advanced degrees in Lesbian Dance Theory and they now work at Starbucks for not much more than minimum wage. I suppose those folks will be the really big winners here.
And don’t forget that forgiven debt is TAXABLE INCOME. Watch them squeal when that comes around.
Just part of THE BIG DEMOCRAT PARTY MONEY MAKING AND MONEY LAUNDERING OPERATION!
To be clearer — this debt forgiveness is bullshit!
The forgiven will not learn, nor those following. It is indirect welfare for college and university progressive indoctrination centers.
The opposite needs to happen, like garnisheeing of paychecks. Bankruptcy is currently more difficult with college loans, but possible.
And, NO more school welfare for foreign students to come here to study. Use that money for American citizens!
To err is human.
To make mistakes big enough to take the entire company down requires a graduate degree.
why?
Please forgive my taxes for next 10 years.
Confiscate it from college endowments and professor pensions, as they were the beneficiaries of the largess.
How about not giving loans to meaningless degrees? Only give loans to Science, Computers etc., where placement after graduation is pretty much a sure thing. Also base all loans pending a reasonable GPA. IMHO
Convenient how kids were told they NEED a college degree, money be damned, and now along come the socialists to save their financial life situations with just a vote.
(Just my little conspiracy theory)
If you finance school with loans and don’t pay back the loan, you should have the credits taken back, just like they do with houses and cars. If you have a professional certification bases on those credits, you lose your certification.
My graduate school in a STEM program was funded by grants, fellowships, and work-study programs. That means that it was all taxpayer funded.
I think the primary issue here is that people are getting loans to study subjects that have low rates of leading to successful careers, causing them to be unable to repay their loans. Rather than subsidizing unproductive degrees, we should be encouraging people to look at the long term opportunities in their selected course of study.
People who receive STEM degrees have very low unemployment rates. Even in the Obama years, people who had a Ph.D. in a STEM field had a 1-2% unemployment rate.
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.
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