Student loan forgiveness: Biden promise to forgive $10,000 in debt remains unfulfilled

[Trill Clinton]

If they forgive the loans they need to kill the loan program in the same bill. Loaning students money for their education is either good or bad. If "preying on innocent students" is bad then they need to stop the loan program..

I agree with this. Just cancel the program.

[Will Hunting]

'Cancel It. Every Penny':

Poll Shows 83% of Democrats Want Biden to Nix Student Debt

"Even Americans who don't carry student debt themselves are sympathetic and are supportive of loan forgiveness."

https://www.commondreams.org/news/20...x-student-debt

IIRC, 92% of the loans are govt, the rest are private.

I don't buy it that 83% of all Democrats want this. A lot of Democrats (like me) think mass student loan forgiveness via an E.O. would both be bad policy and political suicide.

[DMC]

I still stand by the solution of making it so student debt is dischargeable in bankruptcy. If lenders actually had to worry about lending to a deadbeat transgender studies major, student loan availability would shrink and tuition eventually would too imo.

It's the best market-based solution.

I agree with this. The loan should be the same as a loan for a car, using an overall retail or resell value. What's the average income for a gender studies major upon graduation? If it meets the threshold for ROI it would be a reasonable decision for a bank to approve the loan.
Some of this lies with the schools who know just about anything they offer will receive funding and these kids who are either too socially wrapped up or too lazy to compete for real degrees will opt for these "makes me a better person" degrees.

[Will Hunting]

Of course, a much better solution is doing what every other industrialized country does: test kids to determine who is and isn't cut out for college. The underlying problem with a lot of kids getting useless degrees is the fact they have no business being in college in the first place and they could be making $90k+ a year driving a truck, working the power lines or installing solar panels. The entire stigma this country has around how you need college is stupid, there's millions of unfilled jobs right now that pay near or above six figures and don't require a degree.

[DMC]

Of course, a much better solution is doing what every other industrialized country does: test kids to determine who is and isn't cut out for college. The underlying problem with a lot of kids getting useless degrees is the fact they have no business being in college in the first place when they could be making $90k+ a year working the power lines or installing solar panels.

In many instances there doesn't seem to be a goal for even going to college, it's just the natural next step if you're fortunate enough to have the wherewithal and parental lottery luck to even see it coming and actually give a . Medical and engineering students no doubt have a trajectory, however many of these other folks are wandering aimlessly, hopping between classes to keep their grades up enough to remain in school. "What do you want to be" should not be a question a college freshman cannot answer.

Never heard of a barista job that requires a degree in Africana studies. Politics and journalism? Absolutely.

[Will Hunting]

In many instances there doesn't seem to be a goal for even going to college, it's just the natural next step if you're fortunate enough to have the wherewithal and parental lottery luck to even see it coming and actually give a . Medical and engineering students no doubt have a trajectory, however many of these other folks are wandering aimlessly, hopping between classes to keep their grades up enough to remain in school. "What do you want to be" should not be a question a college freshman cannot answer.

Never heard of a barista job that requires a degree in Africana studies. Politics and journalism? Absolutely.

If you have rich parents who are paying your tuition then whatever, that allows the schools to give scholarships to kids who deserve them and make the most out of them. I'm more talking about the people taking out $50k+ of student debt to get a degree they don't even know how they're going to use.

Taking on that much debt is a huge decision and a lot of people are making it way too callously right now.

[Will Hunting]

At the very least, cap the amount of student debt someone can take out. If you need to take out debt to go to private school then go to ing state school.

[Will Hunting]

Kids aren't taking out those loans. Their parents are cosigner. And usually those people with student loans get a degree and make more money than those without. So canceling these loans would help the top 20 percent more than the bottom 50 percent.

That's why this is such a stupid idea. People with student loan debt have some of the highest earning potential of all adults, why would you ever give them targeted debt relief?

[Adam Lambert]

Of course, a much better solution is doing what every other industrialized country does: test kids to determine who is and isn't cut out for college. The underlying problem with a lot of kids getting useless degrees is the fact they have no business being in college in the first place and they could be making $90k+ a year driving a truck, working the power lines or installing solar panels. The entire stigma this country has around how you need college is stupid, there's millions of unfilled jobs right now that pay near or above six figures and don't require a degree.

We kind of do that already with SAT/ACT etc., but mainly it just determines who goes to ty colleges.

[Will Hunting]

In fact. No out of state loans. You want to go? Pay for it up front.

Yeah that's what I was saying. If you want to pay out of state tuition when in state tuition is an option, then you don't need government-back loans for it.