College loans were never intended to benefit the students, in any case. They were aimed at subsidizing colleges and universities that should have gone out of business years ago.
Too late Betsy, no one listens to you know. You’re a quitter.
Tuition’s at colleges have increased at something like 3X the inflation rate for several decades. From a value for dollars paid perspective, probably 50% of students go negative on said value. Like spending 50K to remodel your kitchen before putting the house up for sale when you will only increase the selling price by 10K.
What I NEVER hear mentioned in these discussions are the ones who either didn’t take loans or already paid them off. I had an employee a few years back that worked FT for me and PT somewhere else. She worked 7 days a week, every week, trying to pay off her 280k debt. If she’s paid half or more of it off she should be really pissed if others get all of theirs forgiven.
What I NEVER hear mentioned in these discussions are the ones who either didn’t take loans or already paid them off. I had an employee a few years back that worked FT for me and PT somewhere else. She worked 7 days a week, every week, trying to pay off her 280k debt. If she’s paid half or more of it off she should be really pissed if others get all of theirs forgiven.
If the government is going to underwrite, guarantee and/or subsidize students loans, then the colleges and universities know they can keep raising their tuitions and costs to whatever the traffic will bear. After all, the government is good for it.
Since the colleges and universities aren't negatively affected if the loans aren't repaid, they have no skin in the game so they keep raising the fees to attend their institutions.
As a result, attending college has become almost prohibitively expensive to attend without the government backed student loans or rich parents or benefactors. Vicious cycle.
When I attended Arizona State University as an in-state student in the late 60s, early 70s, I worked three part time jobs while carrying a full load of classes year round and paid all of my tuition myself. My parents did help with my books. That wouldn't be possible nowadays.
Also ‘cheap’ college loans were a bribe to the young to vote Dem.
Every election there’s a new crop of young voters to be fleeced by the Dems.
Obama was praised by the media for providing the loans, during his continuous recession, to provide opportunity for the young while there were no jobs. And it wasn’t a liberal policy no sir- these loans would be paid back...