Buddha Bear said:
quash said:
Buddha Bear said:
BearTruth13 said:
Buddha Bear said:
Canon said:
Buddha Bear said:
Carlos Cruz said:
Is there really a national crisis? If we wind up forgiving student loans, then the federal government should never guarantee another educational loan again.
Eliminate the interest or drop it to the treasury rate, just like every other developed nation has done.
Problem solved, crisis averted.
Screw all those folks who worked and saved and sacrificed to pay off the loans they agreed to. They were just rubes for be conscientious and honest and dependable, amaright?
You're talking about me then. I wouldn't feel screwed at all. I'd feel relief for the next generation that they can keep up with other countries. I payed all $46k of my loans + interest (prob another 20K) after all said and done. I feel cheated after seeing first hand how the rest of the world manages their payment of education. Other countries are getting ahead of us financially because we choose to charge a set 6% rate on our loans that start accruing the first year of college. It's a racket. All other developed countries (and some developing) charge 1% or 0%.
I agreed to those loans at 18 years old, and I paid them off. One thing is for sure....we are NOT adults at 18 years old. And loans that accrue high interest starting at the age of 18 and can't be discharged EVER is indentured servitude. It's disgusting really. Most un-American s*** ever.
2 things need to happen then. If loans are forgiven or discharged in bankruptcy, then loans need to be restricted moving forward. You need to be able to present a repayment plan to the lender and have a good academic background to provide as background.
Go to a bank today and ask for a low interest bank loan for $100,000 with no collateral or credit history. You'll be laughed out of the room.
18 year olds nationwide request $100,000 loans with no business plan, no collateral or credit history, and expect low interest rates and to simply default when they feel like it? To major in English?
Fewer people need to be going to college. Force colleges to lower their prices. If you don't have the grades or a marketable degree plan, you don't need to be getting a loan. You are welcome to pay your own way for a Philosophy degree.
Education to me is a basic human right. I understand from a business perspective what you are proposing. But this is another issue I think other countries have figured out better. Education is the main pathway out of poverty. Therefore it should be a foundation of our country and a human right.
Again, nothing is a right if it requires that someone else provide their effort or property. Health is not a right, education is not a right.
Public education is a societal good.
Public education essential to have informed voters. It's essential for economic development. Without it you have North Korea. Myanmar. Uganda. Chad. DRC (Congo). I can tell you as a first hand witness of the poverty and ingorance in all of these countries (except N Korea), that lack of education is what keeps these people oppressed.
Public education is an essential human right. It leads to a life of dignity, and a life worth living.
Education should absolutely be a priority in this country. Every person should complete high school/GED, be literate, have a basic understanding on math, science, English, etc., have taken some form of personal finance class and civics course.
After that is where we disagree. We don't need every young adult to get degrees in music, art, communications, philosophy, women's studies, sociology, international studies, fashion design, etc. We have a crazy amount of kids majoring in fields with extremely limited job prospects. We have 50%+ of students that simply drop out of college. Millions of people with debt to pay for incomplete or unmarketable degrees.
Not every high school student needs to go to college. We need plumbers, electricians, mechanics, welders, garbage men, etc. Learn a trade that will make you an invaluable member of your community. Most younger generations have no interest in this nowadays. They've spent their entire lives hearing that going to college (regardless of the cost) is a worthwhile investment in all cases and will set them up for life. It really isn't that simple.