[Dilbert San Diego]

One aspect of student loan forgiveness always puzzles me.

And that is, what about students taking out loans now, to attend college. Is there a presumption that loans given today and in the future will also be forgiven? And if so, does this whole thing morph into a system where nobody ever pays to go to college ever again? But then wouldn’t that translate into college just being an adjunct of K-12 education, in which taxpayers pay for college education directly, even at private universities?

[InterceptPoint]

President Biden plans to forgive at least $10,000 worth of loan debt for every student making less than $125,000 per year after college–more than $1 trillion total.

Only one $Trillion Joe? That will hardly put a dent in the student debt. Not likely to buy you many votes. You should go for $100,000 and 10 $trillion. We can afford it - paper is cheap.

[newzjunkey]

How ridiculously unfair is it to make low income or middle class pay for the student debt of someone earning over $100,000 per year, two and three times their income? What happened to high earners paying their fair share? /s

[Vigilanteman]

I could support $10,000 per person (including parent PLUS loans) forgiveness in exchange for getting the government permanently out of the student loan and guarantee business.

If the colleges feel this is important, they can line up their own group of lenders as Hillsdale College does.

If the states feel it important, then they can set up their own bank as the state of North Dakota does.

There is no need to reinvent the wheel, but there is a need to get Fedzilla out of this business completely and permanently.

[lakecumberlandvet]

Government at any level, especially federal, should not be in the student loan business. Government at any level should not be involved in postsecondary education.

[Yo-Yo]

Most of the blame for college tuition cost increases and resulting massive student debt lies with state legislatures.

State legislatures have for decades reduced the amount of subsidies to public universities, forcing universities to raise tuition to fully cover costs.

The total cost of a four-year degree has not gone up any faster than overall inflation for the past 20 years, but the percentage of tuition costs covered by state subsidies has steadily decreased.

When I first went to college in 1981, in-state tuition costs at my public university were around $35/hr, or $1,050 per academic year, and a summer job could easily cover the costs.

Now those tuition costs are over $500/hr, or around $15,000 per academic year.

And this is just tuition. It doesn't address room and board , textbooks, or other fees. When you factor those costs, it's closer to $30,000/academic year. There isn't a summer job around that pays $30,000 in one summer.

[Purpleperson]

Maybe these students should study economics. Biden will print this money and it will push inflation rate to 15%. And corresponding loan interest rates past 10%. This hidden tax will have a huge impact those that don’t have marketable college degrees, minimum wage earners, and fixed income retirees.

[Pete Dovgan]

Honestly,
Education expense should be tax deductible. Not forgiven. You should be able to deduct payments up to 25K per year.

That gives an incentive for people to have jobs, make payments, and allows young people to start a family. It’s not loan forgiveness, but it certainly respects that it’s a business expense and using it like depreciating an item.

That’s what I think would be best.

[plangent]

You get a 1099-C in the amount of your forgiveness which must be treated like income on your next Federal Income Tax filing. So, whatever you make that year, add the forgiveness amount and that is your reportable income.

[Vermont Lt]

Without fixing the cause, forgiving debt is simply stupid.

But, fixing the “cause” will mean the destruction of a lot of private colleges. It will push the “attending” college back to the “elites”.

The thing is…”free” college is not what these kids want. They want the Hollywood college experience. They don’t really care about filling their brains.

These are no easy solutions to this problem.

[kp2hot]

There is a sort of quid pro quo between Democrats and educational establishment to help each other at the expense of tax payers and parents.

Democrats guarantee ever bigger flow of money to educational institutions and educational institutions in turn do the bidding to implement democrat agenda and ideology.

Inflation in Tuition costs has been astronomical and it has been underwritten by democrats via generous student loan programs that prevent any kind of cost reforms within educational institutions. Democrats are throwing money at them and turning them into their partisan ideological assets. And they make parents and students and now tax payers to foot the bill.

[Greenpees]

I’m paying about 14k per year out of pocket for my daughter to go to Northern AZ Uni. Most of that is just dorm/food/and other expenses. She’s smart, so always eligible for the school’s largest scholarship.

Good thing, cause I didn’t save a dime for her schooling. Just couldn’t do it. Now, I’m doing much better. Also, no car payments, and a manageable mortgage helps a lot.

The thought that some loans are going to potentially be forgiven, makes me wonder who though up this BS. It’s so freakin unfair to us, and further to every smart kid that skipped college for fear of going into big debt. To think, now they get to work for the person who borrowed the money and didn’t pay it back. It’s infuriating.

[imardmd1]

Back before the federal-backed student loans came into existence, public schools colleges were owned and run by capitalism, by the owners of businesses and workers in them. Parents stayed married, preborn babies were not murdered, and the thinking of children were formed and channeled by one's parents and fellow responsible citizens in their local churches and schools.

Everything in our nation totally shifted when two things happened:

(1) A great burgeoning pool of borrowed money became available to colleges when the federal government agreed to pay the interest on unsecured loans to students while they were in classes (but not after), without defining which kind of schooling from was worth anything and for which the colleges were not accountable for the repayment of the funds permanently extracted out of the borrowers.

(2) Publicly funded high school teachers were allowed to unionize regardless of their abilities, who then seized the 13-year dominion of grade school control of infants from the local taxpayers through the NEA and AFT.

Without going into all the details, this is how socialistic Marxism has completely taken over the minds our children in my lifetime. I am 85 now, started first grade school in 1941, saw the War, graduated from High school in 1954, left college in 1958 (before federally-backed bank loans were available to colleges without any responsibility for the payment of them), finished a B. S. in Engineering 1963 (using student loans), got M. S. in 1971 and Ph. D. in hard science in 1973, worked in the sciences for 20 years, and because of great surplus of degreed but less expensive inexperienced recently-graduated immigrant competition, I at 55 became unemployable thereafter for another 30 years.

I am still conservative in thought and means, but have had to live on Social Security for the last 24 years.

Lived through it all, and saw the change from a decently moral American society to a Satanic, immoral, evil society through the influence of the Students for a Democratic Society given birth at Port Huron. MI under Walter Reuther's UAW, that has perverted even large religious organizations both "Christian"(whether Protestant or Catholic) and Mohammedanist (whether Black or Mid-East), against which the yet remaining Right-to-Live and Right-to-Think pro-life Constitutionalist citizens have almost lost power over.

We are at the end of decency for ourselves and our children without exercising physical force, my FRiends. The environment into which we were born and raised is now unimaginable and lost to our children's children. Kiss it goodbye and die, my pals.

The Port Huron Statement describes the source of our problems initiated 60 years ago, only a year after the federal student loan system was initiated and its SDS corruptive force began:

Excerpt:

'The statement expressed SDS's willingness to work with groups whatever their political inclination. In doing so, they sought the rejection of the extant anti-communism of the time. In the concurrent Cold War environment, such a statement of inclusion for the heretofore "evil" Communist ideology, and by extension, socialist concepts, was definitely seen as a new, radical view contrasting with the position of much of the traditional American Left. The latter had developed a largely anti-communist orthodoxy in the wake of the HUAC and Army-McCarthy hearings. Without being Marxist or pro-communism, the Port Huron conference denounced anti-communism as being a social problem and an obstruction to democracy. They also criticized the United States for its exaggerated paranoia and exclusive condemnation of the Soviet Union, and blamed this for being the reason for failing to achieve disarmament and to assure peace."

This is when and where the old idea of "democracy" ended and--what we call "democracy" (essentially Marxism) today--began.

Are you an anti-Trumpist, an anti-MAGA-ist? A RINO or "Democrat"? Then you are committing to not only abortion, but a killer of decency in your progeny.