Student Debt Forgiveness

[Phildirt]

Good points, the stereotypes were a turn off but I agree with a good part of what he brings to the table. He brings up something I've been saying for years...I am a registered Republican but firmly believe the GOP has largely become a "do nothing" party. Heaps of criticism and very little solution. Again, status quo creating the problem and when a solution is brought to the table there's no dialogue, no partisanship, just a bunch of rhetoric. If both sides of the aisle agree that there is a glaring issue with everything from health care to entitlements it takes work to fix it from both sides, not the current "we broke it but I'll be damned if we'll let you fix it" atmosphere. /Rant over lol

[crunky]

Originally Posted by themountain

Here is a nice read for all the ney sayers

https://www.theroot.com/every-argume...lai-1845701465

Skewed bullshit, not even four lines in and it goes right to digging on Trump....
Let's get the real facts here.

[Phildirt]

Originally Posted by crunky

Skewed bullshit, not even four lines in and it goes right to digging on Trump....
Let's get the real facts here.

You have to have a filter on when you read something written by a passionate/biased/polar opposite perspective to get the gist of what the author is trying to communicate. He actually nails a few points and it would be better received without some of the cliches.

[Highmark]

Originally Posted by Greatscott

So far, I cannot see any "other side" of this argument. Someone goes into debt over their heads, and now they want someone else to pay for it. If we are going to start down this rabbit hole, and give that I will complete my third degree with no debt, I think this program should pay off my house. I own a lot less on it than the bulk of people owe on their college debt, which seems fair.

Interesting thoughts, I've thought about that a bit. I too have a mortgage that makes up my highest single monthly expense. But a few points:

#1 Not everyone who makes under 100K is over their heads with student loan debt. My Alma mater's tuition would run you about $48K for a four-year degree (double that if you live on campus) and there are a lot of Accountants, Nurses, Actuaries, teachers, etc. that go to college who will (eventually) pay off their loans and will then have more cash to spend in their local economy. Just as a quick example, if I own a burger shop, and suddenly everyone in the area with a college degree doesn't have student loans, I'm going to sell a lot more burgers because those people now have money to spend.

#2 We've tried several types of economic stimulus, but the policy that has had the biggest effect on our economy in the last decade or so is quantitative easing. The problem is that we've reached the point of near-zero interest in a lot of markets, and we're seeing localized inflation in things like housing. America isn't going to need more cheap debt to get the economy moving, we need more cash, and one way to do that is to ease the financial burden on people. I don't think forgiving a subset of student loan debt is going to solve everything, but I do think it's part of an overall plan that can make a huge difference for a lot of people.

#3 Paying off mortgages doesn't make as much sense because a home is typically an asset that both appreciates and has tangible value by providing shelter. A degree on the other hand is an intangible asset that is typically paid for by a loan that will very likely have compounding interest, and can't be expunged by bankruptcy.

[ScaleLifeNewbie]

Originally Posted by Phildirt

Sorry for back to back to back posts...

I'll add this thread has been informative until TheMountain and ScaleLifeNoob started going at each other. I told ScaleLife how to avoid that but he's just going to have to learn the hard way I suppose.

lets be honest here, what he said was a completely uncalled for, and Im not going to just sit here and take it. Im not going shrink down and let him just keep going at me every single time i say something he don't like.

I stand my ground and don't back down.

i did nothing wrong here. he decided to say my opinion doesn't matter in a smart ass way, I said it did, then he told me to stfu, then got all butthurt because his comment backfired on him.

[Phildirt]

Originally Posted by ScaleLifeNewbie

lets be honest here, what he said was a completely uncalled for, and Im not going to just sit here and take it. Im not going shrink down and let him just keep going at me every single time i say something he don't like.

I stand my ground and don't back down.

i did nothing wrong here. he decided to say my opinion doesn't matter in a smart ass way, I said it did, then he told me to stfu, then got all butthurt because his comment backfired on him.

I mean its an internet forum and you are arguing with someone you will probably never see...not worth the brain power. Sticking up for yourself in real life is a good thing. On the internet it is an exercise in futility.

[ScaleLifeNewbie]

Originally Posted by Phildirt

I mean its an internet forum and you are arguing with someone you will probably never see...not worth the brain power. Sticking up for yourself in real life is a good thing. On the internet it is an exercise in futility.

you're right.

[themountain]

Another good article from Daniel M. Johnson is President Emeritus & Professor of Public Policy and Economic Development at the University of Toledo
https://hbr.org/2019/09/what-will-it...nt-loan-crisis

[Greatscott]

So, lets say we go down this idiotic path and have taxpayers cough up money for other people's foolish choices…

A least limit it to people who have useful degrees, engineers, teachers, nurses, doctors, PAs, physical therapist, scientist and such. Those with useless degrees get no help, these would include liberal arts degrees (most if not all), communications degrees, music degrees, journalism, and other moronic endeavors.

What would 100% be a must, if we did in fact go down this moronic road, pay off technical training programs (electronics, electrician, etc.)

[ScaleLifeNewbie]

Originally Posted by Greatscott

So, lets say we go down this idiotic path and have taxpayers cough up money for other people's foolish choices…

A least limit it to people who have useful degrees, engineers, teachers, nurses, doctors, PAs, physical therapist, scientist and such. Those with useless degrees get no help, these would include liberal arts degrees (most if not all), communications degrees, music degrees, journalism, and other moronic endeavors.

YES.

If you take out a college loan, your career should have a salary to where you can pay it off within 10-20 years.

That's another thing I don't get. Why would you go to college and take out a stupidly huge loan for a career that you won't be able to pay the loan back with? It's like renting a $3000 a month house and only making $500 a month. You would never do that, right? so why get a loan when you can't pay it back? It's. simple. math.

[mikemcE]

Originally Posted by ScaleLifeNewbie

YES.

If you take out a college loan, your career should have a salary to where you can pay it off within 1-2 years.

That's another thing I don't get. Why would you go to college and take out a stupidly huge loan for a career that you won't be able to pay the loan back with? It's like renting a $3000 a month house and only making $500 a month. You would never do that, right? so why get a loan when you can't pay it back? It's. simple. math.

Are you really that stupid? Car loans are up to 84 months, so a loan that will impact your entire life and career should be done SNAP?

What you’re still missing is the BANKERS role, if they can “change rules” in the middle of a term, that’s in the contract you’ve read and signed with free will. My daughter loans have been timely paid, with extra principal being paid to reduce the term of the loan. I suspect that understanding complex business deals are also not your forte.

Socialist government doesn’t work as they soon run out of money.

Where does it come from?
Answer is ME who works hard and pays for leaches that don’t have ethics and values.


Hang up and Drive

[ScaleLifeNewbie]

Originally Posted by mikemcE

Are you really that stupid? Car loans are up to 84 months, so a loan that will impact your entire life and career should be done SNAP?

What you’re still missing is the BANKERS role, if they can “change rules” in the middle of a term, that’s in the contract you’ve read and signed with free will. My daughter loans have been timely paid, with extra principal being paid to reduce the term of the loan. I suspect that understanding complex business deals are also not your forte.

Socialist government doesn’t work as they soon run out of money.

Where does it come from?
Answer is ME who works hard and pays for leaches that don’t have ethics and values.


Hang up and Drive

That was supposed to say 10-20. Should’ve double checked.

20 years is quite a bit of time. If you can’t have it paid in 20 years, you’ve got either a serious problem or a trillion dollar loan lmao


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[mikemcE]

More realistic than 1 or 2.
My daughters loans are around 6%
My last mortgage was substantially lower than 4%, so my point remains nail the bankers, they are the crooks here. Wonder how much bank’s and bankers contribute to federal elections......


Hang up and Drive

[ScaleLifeNewbie]

Originally Posted by mikemcE

More realistic than 1 or 2.
My daughters loans are around 6%
My last mortgage was substantially lower than 4%, so my point remains nail the bankers, they are the crooks here. Wonder how much bank’s and bankers contribute to federal elections......


Hang up and Drive

Yeah, sorry for the typo.

I bet they contribute a WHOLE lot!


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[Phildirt]

2020 average is at around $25k per year depending on where you go (obviously more for private, out of state etc, that’s just an average) so we’re talking 100k for a bachelors degree. The average first year salary for a college grad in 2020 was $51k...it’s the predatory lending that causes the disparity, not the value of the degree.

[Greatscott]

I have to be honest here.... Threads like this is a passive-aggressive approach to get them to bring back the 'Hottest Girlfriends' thread. Nothing brings peace, love and understanding like boobies!!!

[tjohanne]

What I find interesting is that there's so much opposition to free health care for all and social welfare related stuff, but at the same time US taxpayers almost spend more money on their military than the rest of the world combined. The amount of money is just staggering, and I believe some of that money would be better used at home.

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[crunky]

Originally Posted by Greatscott

I have to be honest here.... Threads like this is a passive-aggressive approach to get them to bring back the 'Hottest Girlfriends' thread. Nothing brings peace, love and understanding like boobies!!!

Oh shit, now we're talking.
Too bad the old photo hosting sites like bucket and tiny pic died... those threads were fun.

[mikemcE]

Originally Posted by tjohanne

What I find interesting is that there's so much opposition to free health care for all and social welfare related stuff, but at the same time US taxpayers almost spend more money on their military than the rest of the world combined. The amount of money is just staggering, and I believe some of that money would be better used at home.

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Side factoid, the military technologies developed are being used in your daily life........ Science is exiting and also powers the mundane.


Hang up and Drive

[Greatscott]

Originally Posted by tjohanne

What I find interesting is that there's so much opposition to free health care for all and social welfare related stuff, but at the same time US taxpayers almost spend more money on their military than the rest of the world combined. The amount of money is just staggering, and I believe some of that money would be better used at home.

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Originally Posted by mikemcE

Side factoid, the military technologies developed are being used in your daily life........ Science is exiting and also powers the mundane.


Hang up and Drive

Because of the American military, most countries in the World don't have to spend that much on their own defense.