[karpov]

Blacks and Hispanics are less likely than whites to repay student loans, which somehow constitutes an injustice towards them. This justifies forgiving student loans? Instead, we should end government-guaranteed student loans, which would force colleges to cut costs.

[stanne]

Any white kid with a scholarship is a rare bird.

[Texas Eagle]

It’s not debt forgiveness. It’s debt transference. As in, it gets transferred to the taxpaying public. The colleges and universities get the money before the student who didn’t learn a damn thing in the college or university gets a chance to default on it.

[econjack]

This program should require a payback of all sums with interest. My daughter-in-law was a nurse by training but then decided to go to law school, using a student loan to pay for it. She specializes in health law. In her first case, she won and her share of the settlement was more than I earned in my last 6 years of college-level teaching. Even though she is family, why should my tax dollars pay for her education when she reaps the financial rewards?

[jeffc]

Forgiving Black and/or Hispanic student loans and not White's would not pass muster at SCOTUS, as it is obvious racism.

Also, what about student loan forgiveness for Black kids from wealthy parents versus student loans of lower-income White kids?

[kingu]

The hell you say? Looking at various social media platforms, the ones whining about hundreds of thousands of unpaid student debt are almost universally young white people who don’t want to give away half their salary to pay for their education.

I very rarely see a person of color do it, and almost never see it about ‘my degree in civil engineering...’

[ransomnote]

Inequality of student loan debt underscores possible Biden policy shift

~~~~~~~~~~~~~~~~~

Biden doesn’t have policies; he has handlers.

He won’t need policies; he’ll need lawyers. Lots of them.

[DYngbld]

I wonder if my Daughter will get reimbursed for her tuition that she worked for and paid cash? We won't hold our breath.

We are so proud of her for graduating with out student debt, I guess that was the wrong decision.

[rktman]

In that case, Mrs rktman DEMANDS a refund for payment in full of her college loans. In today’s dollars.

[sloanrb]

Here’s an idea: have the government seize the endowments of these schools to pay back the amount the schools overcharged on tuition.

I am not a fan of the government seizing assets, but in this case the money originally came from the student loan program. Some schools have millions of dollars in their endowments.

Also they can stop overpaying the faculty. Some of the higher ups make over a million a year in salary.

[Brian Griffin]

The university I graduated from has tuition of over $50,000/year nowadays.

I can’t imagine that even a third of “white” students there have their parents pay the full amount.

My first year tuition was $3,300/year and I took out both a federal NDSL and a private bank student loan to pay it.

[CurlyDave]

....And a study from Brandeis University’s Institute on Assets and Social Policy found that “twenty years after starting college, the median debt of White borrowing students has been reduced by 94 percent—with almost half holding no student debt—whereas Black borrowers at the median still owe 95 percent of their cumulative borrowing total.”...

At the risk of being politically incorrect, think back to the days when banks would "redline" minority neighborhoods and not make mortgage loans there.

Is there any possible correlation?

[Brian Griffin]

https://financesonline.com/student-loan-statistics/

[Sooth2222]

What are their college majors?

I doubt very many STEM majors have a lot of trouble paying back their school loans, no matter what color God made them.

[Alberta's Child]

“And a study from Brandeis University’s Institute on Assets and Social Policy found that “twenty years after starting college, the median debt of White borrowing students has been reduced by 94 percent—with almost half holding no student debt—whereas Black borrowers at the median still owe 95 percent of their cumulative borrowing total.”

Notice the word I highlighted here. There’s a reason why these numbers are tied to the START date of a student’s college education in the statistics cited here. What these figures don’t tell you is that so many black and Hispanic students still owe huge amounts of money on their college loans years after they started college because they never finished school.

In other words ... many of these black and Hispanic students were extended loans to pay their expenses at schools where they never should have been admitted in the first place. As I’ve said for years, student loans were never intended to actually help students at all. They were just a scam to help subsidize the SCHOOLS.

[Obadiah]

Yep, frame it as student loan racism. That shuts down all discussion.

Because of preferences these kids probably got a lot of loans that non-minorities probably wouldn’t qualify for. So to offset racism their was leniency in granting the loans, and now of course is racist to require the terms of the loan be upheld.

Who is going to pay for these loans. Ah, evil Whitey, right?

[FMBass]

If anything is to be done, consideration should be given to cutting interest rates for school loans. Perhaps some ratio, dependent upon the viability of the Major or perceived payback.

Also, if anyone is going to forgive loans, it should begin with colleges and their tuition.

[GOPJ]

... “twenty years after starting college, the median debt of White borrowing students has been reduced by 94 percent—with almost half holding no student debt—whereas Black borrowers at the median still owe 95 percent of their cumulative borrowing total.”

The real scam here isn't colleges and Universities. It's ghetto companies that offer 'student loans' for things like 'Learn how to be a Truck Driver'... "Beautician"... a "Programmer".

"Job Training" is big con in the black communities... by profit and non-profit rip off artists. There are few jobs available at the end of training but LOTS OF DEBT...

Cumming's district was receiving $26,000 a year for every man woman and child that lived there... most of went to 'non-profits' that didn't do crap other than provide jobs for Cummings' cronies...

Of course we don't get the numbers of these 'give-a-ways because it be obvious Biden ONLY wants to reward the irresponsible - those who prop up the democrat party.

[Taxman]

No problem!

Sloe Joe will NEVER be POTUS!

[GOPJ]

... “twenty years after starting college, the median debt of White borrowing students has been reduced by 94 percent—with almost half holding no student debt—whereas Black borrowers at the median still owe 95 percent of their cumulative borrowing total.”

The real scam here isn't colleges and Universities. It's ghetto companies offering 'student loans' for things like 'Learn how to be a Truck Driver'... "Beautician"... a "Programmer".

"Job Training" is big con in the black communities... by profit and non-profit rip off artists. There are few jobs available at the end of training but LOTS OF DEBT...

Cumming's district was receiving $26,000 a year for every man woman and child that lived there... most went to 'non-profits' that didn't do crap other than provide jobs for Cummings' cronies... most were part of the 'training scam'..

Of course we don't get the truth about these 'give-a-ways because it be obvious Biden ONLY wants to reward the irresponsible: those who prop up the democrat party.

Even in this piece it say's STUDENT LOANS - it does not say COLLEGE LOANS.

[E. Pluribus Unum]

I am all for student loan forgiveness as long as it comes out of the endowments of the universities that received the money from the loans, knowing full well the students were burying themselves in debt for worthless degrees.