171–180 of 483 posts
How about giving back money to people who paid back their loans, possibly going through even greater difficulties to do that.
Please, please, please take note before commenting: These are being forgiven under the Public Service Loan Forgiveness program, created in 2007 (fifteen years ago), which eliminates your remaining debt after you've made ten years of payments while working in the public sector (government or non-profit). This has nothing to do with current debates around loan forgiveness.
What then is the point of the article? To tout something implemented by another administration? I haven't been employed by the taxpayers so who cares?
Earlier quoted context omitted.
And also reimburse the people who sacrificed to pay theirs off or avoid them in the first place. I’d donate my reimbursement if they did, but of course they won’t.
Demanding "even-stevens" all the time doesn't help the situation at all. The people that were able to pay off their loan debt were people who chose a degree that would be able to make significant money, were talented enough to land a great job in a field without a lot, or had the circumstances that let them finish a degree where others were unable to. Do some people make bad decisions about degree choice? - Yes Do so…
What other loans should the government be forgiving for people's poor decisions? Should the government have paid off all mortgages in 2008? I'd say people that bought in the years or months leading up to the housing crash didn't make particularly bad decisions either, yet I personally know a few different families that never recovered.
Some people drop out, and I agree that those people should have a way to lessen the burden of student debt, but I don't know that people who choose degrees with low financial value should get a free pass more so than people that take on any other particular debt.
They should require banks to forgive loans, rather than forgiving Federally-backed loans. If you require banks to forgive loans (or if you allow loans to be dischargeable in bankruptcy), you create an incentive for the banks to loan money only for college education that results in useful careers. The Federal government is immune to market forces, so forgiving Federal loans just means you encourage the type of college…
Earlier quoted context omitted.
People who have paid their student loan debt are in exactly the same situation they were after this forgiveness than they were before: that is, they have no student loan debt. People in the US are not punished for being financially responsible. They are rewarded for taking risks, but not punished for being responsible. Very different.
> are in exactly the same situation I don’t know you could possibly reach that conclusion. I paid off my loan and lost 1000 hours of work. You didn’t have to work 1000 hours to pay off your loan. We’re not in exactly the same situation . I don’t know how else I can put this without ELI5’ing
How about giving back money to people who paid back their loans, possibly going through even greater difficulties to do that.
People in the US are always punished for being financially responsible.
It's crazy to cancel student loans and still keep issuing the exact same loans. If we believe the loans are unjust then the government should stop handing them out as the very first step.
>> It's crazy to cancel student loans and still keep issuing the exact same loans. If we believe the loans are unjust then the government should stop handing them out as the very first step. A wise man once told me "The first thing you should do when you find yourself in a hole is stop digging". This is my standard response to the student loan crisis and many others.
I know every European seems to ask this of every American but what is the resistance to a welfare state? if you look at a government as investing in its citizens like a VC fund, then providing education and medical care is sensible, and some will turn out fine and others will be Bezos and then you can get your investment back via tax. I am honestly trying to avoid the flame war here - but I do it know how else to fra…
I don't believe it's sustainable. I don't believe it's sustainable here, and I don't believe it's sustainable there either (in fact, as far as I can tell, we've starting to see the cracks in the European welfare state for a while now). We have some welfare state-like programs here - social security, for example, is supposed to provide guaranteed retirement income to the elderly. Both of my grandfathers lived on it for decades before they passed. My father collects it now, but it's not enough to survive, even at his meager standard of living, so he works as a security guard at 72 (and yes, I've offered to let him come live with me but he's too proud to accept). I don't believe that there will be anything left over when I try to collect it in 20 years. If it was actually free, there wouldn't be any reason to be upset, but my social security payments are far higher than what I contribute to my actual 401(k) retirement plan that I do expect to be able to live off of when I'm ready to retire. The welfare state takes everything and eventually provides nothing.
Why is the government so afraid of allowing new student loans being issued to go into bankruptcy? Wouldn't this solve most issues going forward? Separate note: instead of loan forgiveness programs, just pay for people's school up front if they go into these public sector jobs. Then if they quit before the end of their contract, they're on the hook for whatever. Same as the military academies system. Free college, 5 y…
Earlier quoted context omitted.
It was a tangential comment and I never mentioned politics, at all. 15 year old program or not, what do citizens who meet all those things I mentioned get in return? Please don't tell me it is "the satisfaction of knowing that their hard work and taxes benefit others who are less fortunate than them" .
I don't view it as getting something in return. They made a choice. The people complying with this other program made a choice. Both choices result in less debt they have to worry about. This leads me to think we're having a different conversation than the one you want to have.
You are a teacher and have two kids, A and B.
Kid A is the ideal student, never gets in trouble, always send assignments in time and comes out really well in all tests.
Kid B is the complete opposite and is basically a mess (for whatever reason).
At the end of the school year you decide to give both students the same grade. You (could) justify it by saying that this measure is going to motivate Kid B to behave more like Kid A.
Nice, but, how do you think Kid A is going to feel? What if, instead, it makes Kid A behave more like Kid B onwards. You don't want this to happen.
See, https://www.newscientist.com/article/dn12913-envious-monkeys...