Posted on 02/21/2021 5:45:11 PM PST by Albion Wilde
The president's harsh town hall response on canceling America's $1.7 trillion college debt revealed he doesn't understand the issue. [snip]
Joe Biden might not hold an Ivy League sheepskin, but during his brief stint between the vice presidency and the presidency he was paid more than $900,000 by Penn for ill-defined work that helped to pump up the Philadelphia university and its public image. Now, one has to wonder if the Ivy seduction of a future president didn’t also foster a status quo view of higher ed in America that doesn’t comport with the real-world aspirations and struggles of an increasingly desperate middle class. [snip]
In a nation increasingly split between college-educated Democrats and the noncollege whites now the core of the GOP, the perception — again, based on mistaken ideas about who holds college debt — that Biden is rewarding his affluent voters could be a problem.
(Excerpt) Read more at inquirer.com ...
This article analyzes from the left Biden's curt rejection of the idea of cancelling student loan debt when it was suggested by a student at a Milwaukee town hall last week, and admits that such a move wouldn't go well with Republican or conservative voters—admitting, without saying it, that we are a powerful and large contingent of the electorate.
This reporter's reference to "Penn" signifies the massive, ivy-league University of Pennsylvania, located in the City of Philadelphia. (It is private, founded by Benjamin Franklin, and not related to Penn State, the public university in the middle of PA), and compares the small number of elite schools to those o of middle- and struggling-class student debtors.
Ping!
Yeah. Okay.
The article goes on the say the debt accumulated by these students at whatever college will affect their future ability to buy homes and otherwise participate in our economy. Well duh! and tough noogies! Excessive debt is a problem. Maybe they will learn something.
The puppet masters (soros?) are going to take bidet down so kommi-la can be installed.
It seldom, if ever, works to inject the government between the provider and consumer in any transaction. If reform is ever to happen, the consumer must have the power and motivation to carry out that reform. Government, especially Democrats, will never tamp down on university abuse and inflation so the problem will continue to spiral out of control as long as the schools can get away with it.
Will Bunch makes my skin crawl.
Always has.
I’ve never heard anyone address, what happens after loan debt were to be forgiven. What happens in the future?
For example, suppose magically student loan debt were forgiven tomorrow? What is the expectation going forward? Would today’s college students who have borrowed for school expect their loans to be forgiven as well? What about those who are entering college next year? Would they expect their future loans just aren’t a real financial obligation to be repaid?
I’ve never heard anyone anywhere discuss that aspect of things.
Besides setting up future expectations (just as the illegal immigration problem now), the issue is who pays for the forgiveness? If the government pays off or forgives its loans, then the taxpayers pay. If lenders get stiffed, they will be much less willing to lend in the future. Either way it creates a problem of stability of contract and expectations of investors. Meanwhile the schools get away with its abuses and the government can continue to mandate expensive programs which raise the cost of education without any real benefit.
Unless students and/or parents/cosigners stand to lose a great deal, they will have no motivation to force schools to become more cost effective. Studies in the past have shown that when student loan amounts rose, the schools raised their costs even more than inflation required. It is high time the Ivy League schools lost their cachet and had to compete along with the rest of the secondary schools. But the Deep State won’t allow that to happen.
There are very few demands for social workers which can pay off $100,000 in loans.
A friend of my daughters parents pushed her into going to school and living there, 30 miles from home. She ended up with $200,000 in debt and a worthless degree.
It was incredibly depressing.
Wow. You expect communist to think about tomorrow? Forgiveness would cause costs to go even higher. Free money. Colleges will add a 25% forgiveness fee that they didn’t pay to get even more money for SJW LGBTQP Socialist feminism studies ....
Scam the scam on the suckers. Socialist way to prosperity.
Wigged-out Maxine Waters got stung by the issue of student loans, as well. She stupidly thought banks were
the culprit and were making zillions loading-up students w/ debt.....but she was about to find out the true culprits.
apnews.com
April 10,2019
At a House hearing featuring a panel of seven bank CEOs, Maxine Waters was loaded for bear.....she ticked off figures on student loan debt and defaults, then asked, “What are you guys doing to help us with this student loan debt? Who would like to answer first? Mr. Monahan, big bank.”
Bank of America chairman and CEO Brian Monahan replied, “We stopped making student loans in 2007 or so (after the US govt began making the loans).”
The govt makes it real easy to get student loans and hypes its participation in loading-up students w/ debt.
StudentAid.gov is the U.S. Department of Education’s comprehensive database for all federal student aid information. This is one-stop-shopping for all of federal student loan information.
BIG BROTHER IS WATCHING StudentAid.gov keeps track of an individual’s student loan amounts and balances.
Market forces that push anyone who wants to make a living wage to go to university are a gigantic, complex racket. To the dilemma mentioned in the article—young people having enough income to marry and buy a house and have children—Trump had the right ideas with bringing manufacturing back onshore, and setting up apprenticeship programs and opportunity zones. All of which would provide alternative ways to make a living, and foster competition with uni’s. All of those Trump programs Biden erased on Day One.
Nothing can be done about the high costs of college as long as
1) everyone is expected to go there and there’s nowhere other route to a living income for the average working American, and
2) universities take government monies, which leads to the third-party payer inflation spiral as well as the compulsory commie indoctrination.
Trump also mentioned in his campaign that he thought uni’s with endowments in the billions should have to pay taxes on the endowments. He had the right ideas, but there is only so much one man can do with the entire establishment and both parties wanting to destroy his presidency from before it even began; so we never heard about it again.
Trying to figure out what to do about the cost of higher ed, or the looming college debt crash? = Arranging deck chairs on the Titanic.
A Trump administration policy would force American universities to reveal cooperation with chapters of the CCP's Confucius Institute. Axios reported that in the final days of his presidency, Trump enacted a policy that would compel primary, and post-secondary institutions to disclose all contracts and transactions with the CCP's Confucius Institute (which are rampant on US campuses). Under the policy, schools that do not report information would lose certification for the Student and Exchange Visitor Program.
But Pres Joe Biden quietly revoked the policy almost immediately.. Records from the Office of Information and Regulatory Affairs revealed that Biden nixed the policy on January 26. A spokesperson for U.S. Immigration and Customs Enforcement confirmed to Campus Reform that the policy was rescinded. (Excerpt) Read more at campusreform.org …
NOTE: Biden 's son Hunter is in business w/ the CCP....Hunter's stake is said to be worth $50 million.
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WHYY-PBS reported U of Pennsylvania made a $100 million contribution to the Phila School District.
Is the U of Penn's donation prohibited Chinese payoffs? Is Penn getting rid of evidence to save Biden's sorry ***?
WHYY.com / / FR Posted on 12/6/2020 by Kid Shelleen
Two weeks after the U of Pennsylvania made a gargantuan $100 million contribution to the School District of Philadelphia, it’s unlikely the cash infusion will inspire copycat donations from major higher education peers in the city. When Ivy League Penn made its announcement, City Council member Helen Gym and others voiced hope that other universities with large landholdings, like Temple or Drexel, might also pony up. “I certainly hope that some of our strongest civic institutions can see beyond their individual acts of charity and generosity,” “When universities and our major nonprofits, who have long been invested in education and public health, unite on a mission to invest in our schools, we send a clear message to Harrisburg and to Washington, D.C. that we are invested in our future.” (Excerpt) Read more at whyy.org ...
Biden Center Under Investigation for Illegal Donations From China
DB Daily Update | David Blackmon / FR Posted on 5/25/2020, 9:19:56 AM by EyesOfTX
If the label says “Biden,” it was definitely influenced by China. – John Solomon at JustTheNews.com is reporting that The National Legal and Policy Center has asked the U.S. Department of Education to investigate its findings that the University of Pennsylvania (Penn) has over the past several years accepted more than $22 million in anonymous China-originated donations to its Biden Center and failed to properly disclose the contributions.
From Solomon’s report: The complaint, filed by the National Legal and Policy Center, says that over the past three years, the university has (admitted to accepting around) $22 million in anonymous funding from Chinese sources. That’s out of a total of more than $70 million from Chinese donors during that time, the NLPC said.
Those significant funds, including the anonymous amounts, rolled in after the Biden Center was announced in early 2017 and launched in February 2018. The center is located in downtown Washington, D.C. Federal records show that the University of Pennsylvania has received significant donations from Communist China since the opening of the Biden Center.
One 2018 donation alone totals $14.5 million; it is listed as “anonymous” in federal records. The NLPC alleges the university may have violated federal law in accepting those anonymous monetary donations from Communist China. The Higher Education Act mandates schools report the national origins of any donations above $250,000 although not necessarily the individual names of donors themselves. [End]
This serves as just one more reminder that Biden, his son (and his brother) have long been in the pockets of Communist Chinese interests. The stark reality facing our country today is thatall of the gains President Donald Trump has made through the sheer force of his will in terms of U.S./China relations and trade policy will be immediately reversed the day after Biden assumes office.
..........virtually all U.S. antibiotics and PPE are sourced through Communist China at some point along their supply chains .........fair share.
KEEP IN MIND.....virtually all U.S. antibiotics and PPE are sourced through China at some point along their supply chains.......
There are trillions of dollars at stake. Biden ensures his family continues to get filthy rich from Communist China.
The article fails in all respects.
At the core it fails because the writer merely accepts the current tuition costs as a given and does not identify that cost as the one-part of core of the problem.
The second half of the core of the problem, ignored by the writer, is that government tuition assistance in all its forms has had zero interest in stemming the cost of tuition and instead has merely helped academia explode those costs at will = knowing their students will get government aid, grants and loans to pay for it.
Ignoring the core important matters, the writer goes on to suggest there is no core problem with taxpayers forgiving all the student debts, as much as there is a problem with who - which students - will get most of that relief.
If this issue must be pressed nationally, then it should include “reparations” from the colleges for every dollar of student debt that is forgiven. At the end of the day, the colleges should have to eat the costs. If they close, that will just mean a bunch leftist academics will be out of work.
Then Pelosi will impeach her so that Pelosi can become president.
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