[SeekAndFind]

The federal student loan program sends all the wrong signals. Students have an incentive to take out loans they can't repay in order to capture the federal subsidy. This incentive increases when students anticipate a federal bailout when they default on the loan. The highest default rate is for students who take out loans but never finish a degree. Many of these students are from low-income families, attending community colleges and private or for-profit institutions. But most of the loans in the federal student loan program are extended to students from more affluent families. The cost of these loans, both in the form of federal subsidies and loan default, is borne by all taxpayers. Colleges have captured much of the benefit from the federal student loan program by boosting tuition more rapidly than the rate of inflation.

[FreedomPoster]

Hard-Working Plumber Looking Forward To Paying For His Neighbor’s Gender Studies Degree
https://babylonbee.com/news/hard-working-plumber-looking-forward-to-paying-his-for-his-neighbors-gender-studies-degree

[HangnJudge]

OK, clawback University incomes,
this is not the fault of the general taxpaying public...

[1Old Pro]

99.9% of colleges are staffed by 99% liberals who provide a liberal indoctrination. And they want Americans to finance our own destruction of our country with the bailouts.

[Rurudyne]

No forgiveness of student loan debt. It’s okay if their lives suck because they made poor career choices.

[Clemenza]

Zombies? It’s the time of the season...but she’s not there...tell her no (student debt forgiveness). You don’t need an Odyssey and Oracle to figure that out.

[Macoozie]

Bring back Bankruptcy for Student Loans.
Have BANKS & SCHOOLS lend the money.

You’ll see prices come down, less student debt, less indoctrination and more valuable skills being taught.

Ooops, I’m sorry.

Logic & reason intruding again.

[PanzerKardinal]

Tax funded loan forgiveness is nothing but the taking of money for workers to give to the rich.

[FormerFRLurker]

Unless “zombie” is code for something the headline is misleading. I don’t think student loan forgiveness is a good idea either but this kind of hyperbole just makes our side look stupid and emotional.

[tarpit]

Universities have turned into a big business whose sole purpose is to monetize the students future earnings. The rise in a cost of education has far exceeded the increase in the cost of healthcare. At least healthcare has improved. Education is still the same model it has always been.

Subsidizing with tax payer money is not really about the student, it is to help the universities maintain their hold. The covid-19 pandemic is simply accelerating the inevitable restructuring of academia.

[econjack]

From my earlier post:

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?

She has already repaid her loan.

It also seems there is a scam afoot where "agents" sell minorities on student loans. There was a recent post on this, but I can't find it. Some other statistics confirm the higher ratio.

https://www.savingforcollege.com/article/racial-disparities-in-student-loan-debt

[HotHunt]

This student loan mess all started when Obama brought the student loan program into the federal government, instead of allowing the private sector to administer the program.

Once the government gets its hands on something, they make a mess of it.

Once students knew they're guaranteed to get loans from the government for tuition, too many students took advantage of the money offered but either didn't finish college or they got degrees that required so much debt that they could never pay them back.

Once colleges and universities knew the government was handing out guaranteed student loans for tuition, they took advantage right away and increased their tuitions to keep pace with the amount of money the government would lend the students.

Now we're $400 billion in the hole from unpaid student debt, and tuitions at colleges is so expensive, you need massive loans to afford them nowadays.

I remember back in 1966 when I entered university the summer I graduated from high school. In-state tuition was so low that I could work a couple of part time jobs while attending and could easily afford to pay the tuition myself. My parents couldn't afford to send me to college but there was never a discussion about borrowing money for tuition. Back then, if you didn't have the money, you didn't do it.

My wife and I know one individual, 40 years old, who owes $68,000+/- in student debt but never got a degree. They'll never pay it back. Their credit is ruined and they can't find decent employment. The mistakes people make in life is astounding sometimes.

[dfwgator]

It’s the time of the season.

[E. Pluribus Unum]

I am all for student loan forgiveness as long as it comes out of the endowments of the universities that exploited dumb 18-year olds for their guaranteed loan dollars.

The universities approved loans that a banker would never have approved because it wasn’t the university’s money being loaned.

An insane recipe that got the desired result, students with degrees in advanced basket weaving who were buried in debt without any hope of having an actual life.

That’s why they want socialism and think riots and looting are acceptable behavior.

[null and void]

Zombies?

At least they can still vote democrat...

[aimhigh]

Requiring me to pay for someone else’s tuition is a form of slavery.

[bgill]

Wish I’d had free college. I had to pay for mine and our kids’.

[Vaduz]

Defaulting on their loans keeps the repo people in business it will be booming for a long time.

[Weirdad]

This is a great post and a great thread.

This is just one of many [all] posts and threads which demonstrate the intelligence and analytical capability of FREEPERS. Thanks to everyone commenting. https://freerepublic.com is still the BEST source of good political thought on the internet.

If we lose this country by “losing” to the criminal damocrats, after me borrowing and repaying my own educational loans, and latter sending MANY children through college debt free, who will seek “social justice” for all of my slavery for “the man” ?

I seriously now am in a position where, multiple times per year, I am implored by persons who took out educational loans, often for multiple thousands of dollars, YEARS ago, never graduated, used the money for whatever, paid ZERO on the loans, were never called to account, are now on “welfare,” [a useful term that is no longer politically correct], and now want me to sign new exemption forms asserting that they are now just too old and sick to repay them. And of course they ARE by now.

These things occurred under “republicans” and even R Reagan — don’t tell me there never has been any “social justice” — it’s been going on the entire 20th century.

I’m a slave too, I just did what they want without being whipped, it’s not that same thing, but it’s still a form of slavery when we are abused by government fiat.

(Sorry to be so dramatic but I am in a mood.)