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Post by YankeeFan on Jun 24, 2019 23:06:32 GMT
They need to find better examples if they want this to work.
Why should the taxes of a construction worker or factory worker, who didn’t go to college, pay off their debts?
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Post by Deleted on Jun 24, 2019 23:40:45 GMT
I refuse to let any of my tax dollars bail out anyone dumb enough to spend $100,000-plus on an MA in fucking literature.
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Post by mizzougrad96 on Jun 25, 2019 0:30:01 GMT
I'd have no problem doing this for people who went into certain professions even if it means raising my taxes.
If you go into teaching, and teach for 10 years in public schools, your student debt will be erased.
If you serve in the military for 10 years, your student debt will be erased. (I think there is already something like this in place)
If you're a cop or a fireman or an emergency worker... Same thing... I know those jobs don't always require degrees, but if you do it...
I'm not sure how to do it for doctors or nurses. I know there are some places where if you work in certain areas for a period of time they will erase college and med school debt (Think Northern Exposure...)
But if you're like my flaky sister and spend $60K on college only to become a flight attendant, guess who isn't getting their college paid for?
But of course, none of this would go over well because everybody wants everything for free these days.
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Post by Deleted on Jun 25, 2019 0:43:52 GMT
I'd have no problem doing this for people who went into certain professions even if it means raising my taxes. If you go into teaching, and teach for 10 years in public schools, your student debt will be erased. If you serve in the military for 10 years, your student debt will be erased. (I think there is already something like this in place) If you're a cop or a fireman or an emergency worker... Same thing... I know those jobs don't always require degrees, but if you do it... I'm not sure how to do it for doctors or nurses. I know there are some places where if you work in certain areas for a period of time they will erase college and med school debt (Think Northern Exposure...) But if you're like my flaky sister and spend $60K on college only to become a flight attendant, guess who isn't getting their college paid for? But of course, none of this would go over well because everybody wants everything for free these days. Yeah. When you say "if we don't do something about this, we aren't going to have enough teachers," I'm there. When you say let's just erase all debt anyone still owes for college, you lose me. I also have great doubts that a lot of this debt was necessary in the first place. A lot of universities, public and private, have income thresholds below which a person wouldn't pay tuition. (At very low incomes, room and board could be free too.) If someone faces a large set of loans, it's as likely to be because their parents made too much money as too little. I'd bet the majority of these loans fall into one of three categories: 1) Private university that, if we'd all look at the evidence, we'd agree there were other, probably even better options 2) Out-of-state public university, where tuition is insanely expensive (more than private in many cases) 3) Graduate programs, which are of a different category entirely |
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Post by YankeeFan on Jun 25, 2019 0:48:56 GMT
I'd have no problem doing this for people who went into certain professions even if it means raising my taxes. If you go into teaching, and teach for 10 years in public schools, your student debt will be erased. If you serve in the military for 10 years, your student debt will be erased. (I think there is already something like this in place) If you're a cop or a fireman or an emergency worker... Same thing... I know those jobs don't always require degrees, but if you do it... I'm not sure how to do it for doctors or nurses. I know there are some places where if you work in certain areas for a period of time they will erase college and med school debt (Think Northern Exposure...) But if you're like my flaky sister and spend $60K on college only to become a flight attendant, guess who isn't getting their college paid for? But of course, none of this would go over well because everybody wants everything for free these days. Click on the bio of the chick who tweeted about her $100,000 debt, who has the Masters in literature. She’s a flight attendant. |
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Post by old_tony on Jun 25, 2019 0:56:58 GMT
I'd have no problem doing this for people who went into certain professions even if it means raising my taxes. If you go into teaching, and teach for 10 years in public schools, your student debt will be erased. If you serve in the military for 10 years, your student debt will be erased. (I think there is already something like this in place) If you're a cop or a fireman or an emergency worker... Same thing... I know those jobs don't always require degrees, but if you do it... I'm not sure how to do it for doctors or nurses. I know there are some places where if you work in certain areas for a period of time they will erase college and med school debt (Think Northern Exposure...) But if you're like my flaky sister and spend $60K on college only to become a flight attendant, guess who isn't getting their college paid for? But of course, none of this would go over well because everybody wants everything for free these days. Click on the bio of the chick who tweeted about her $100,000 debt, who has the Masters in literature. She’s a flight attendant. But she reads some really good books on her layovers, so ... |
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Post by Deleted on Jun 25, 2019 1:03:04 GMT
I took four 400-level “literature” seminars when I was in college. They were a joke. That degree is as useless as one in philosophy. What else is she going to do for a living?
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Post by sharky, Hunter’s text buddy on Jun 25, 2019 1:04:05 GMT
Wouldn’t a good middle ground be a government program to reduce interest rates for student loans, so people can work their way out of debt, instead of just forgiving them entirely?
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Post by lcjjdnh on Jun 25, 2019 1:07:56 GMT
I'd have no problem doing this for people who went into certain professions even if it means raising my taxes. If you go into teaching, and teach for 10 years in public schools, your student debt will be erased. If you serve in the military for 10 years, your student debt will be erased. (I think there is already something like this in place) If you're a cop or a fireman or an emergency worker... Same thing... I know those jobs don't always require degrees, but if you do it... I'm not sure how to do it for doctors or nurses. I know there are some places where if you work in certain areas for a period of time they will erase college and med school debt (Think Northern Exposure...) But if you're like my flaky sister and spend $60K on college only to become a flight attendant, guess who isn't getting their college paid for? But of course, none of this would go over well because everybody wants everything for free these days. This seems like a pretty bizarre way to go about rewarding people who go into these professions. If you think they should be paid more, pay them more.* Offering to pay off their student loans will have the distorting effect of encouraging people to take out more debt than they otherwise would--which perversely might increase college tuition even more and penalize those who pay out of pocket. *Though, I think the extent to which government employees are "underpaid" is a bit overstated given the pensions available to them in many states--a substantial guaranteed** income stream in retirement is much more valuable than people seem to think. ** Assuming governments don't go bankrupt trying to make these payments. |
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Post by old_tony on Jun 25, 2019 1:11:51 GMT
I'd have no problem doing this for people who went into certain professions even if it means raising my taxes. If you go into teaching, and teach for 10 years in public schools, your student debt will be erased. If you serve in the military for 10 years, your student debt will be erased. (I think there is already something like this in place) If you're a cop or a fireman or an emergency worker... Same thing... I know those jobs don't always require degrees, but if you do it... I'm not sure how to do it for doctors or nurses. I know there are some places where if you work in certain areas for a period of time they will erase college and med school debt (Think Northern Exposure...) But if you're like my flaky sister and spend $60K on college only to become a flight attendant, guess who isn't getting their college paid for? But of course, none of this would go over well because everybody wants everything for free these days. This seems like a pretty bizarre way to go about rewarding people who go into these professions. If you think they should be paid more, pay them more.* Offering to pay off their student loans will have the distorting effect of encouraging people to take out more debt than they otherwise would--which perversely might increase college tuition even more and penalize those who pay out of pocket. *Though, I think the extent to which government employees are "underpaid" is a bit overstated given the pensions available to them in many states--a substantial guaranteed** income stream in retirement is much more valuable than people seem to think. ** Assuming governments don't go bankrupt trying to make these payments. You want to know who's really well off in real-world sense? A retired school teacher who's married to a retired fireman. They will never have to worry about money the rest of their lives. |
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Post by Deleted on Jun 25, 2019 1:15:41 GMT
Wouldn’t a good middle ground be a government program to reduce interest rates for student loans, so people can work their way out of debt, instead of just forgiving them entirely? It should definitely be regulated and the amortization schedule should make sure people are actually paying off principal. We've kind of set up this system where people are told they have to go to college to be successful, and then we stick them with a bill. But excusing the debt entirely is a terrible idea. |
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Post by batman on Jun 25, 2019 2:06:21 GMT
Wouldn’t a good middle ground be a government program to reduce interest rates for student loans, so people can work their way out of debt, instead of just forgiving them entirely? Unless it's changed, I think the interest rates are already pretty low. I consolidated mine around 2002 and only had a 3 percent interest rate. The big problem nowadays is that the cost of tuition itself has exploded in the past 20 years. I graduated from LSU in the late 1990s, and my out of state cost was only about $10,000 per year including room and board. It was the biggest reason I went there. Most other places were between $15,000 and $20,000. I graduated college with about $18K in student loan debt (which took me about 17 years to pay off, but that's my own fault). These days, what I paid for four years of college might not cover one year. Out of state tuition is almost $28,000 per year at LSU, and with room and board it's about $40,000. Estimated cost of attendance, according to LSU's own web site, is $50,575 for a student living in a residence hall. In-state cost of attendance is almost $135K. And that's for a mid-level state school. I imagine it's proportionately worse at more prestigious schools or private universities. Bottom line, people are graduating with a lot more debt. The interest is a drop in the bucket. Even at 0 percent interest it would take them years to pay off $100K in loans. |
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Post by batman on Jun 25, 2019 2:09:02 GMT
In a related note, looking up those figures has killed any thoughts I might have had of going back to college for my Master's.
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Post by sharky, Hunter’s text buddy on Jun 25, 2019 2:58:48 GMT
Wouldn’t a good middle ground be a government program to reduce interest rates for student loans, so people can work their way out of debt, instead of just forgiving them entirely? Unless it's changed, I think the interest rates are already pretty low. I consolidated mine around 2002 and only had a 3 percent interest rate. The big problem nowadays is that the cost of tuition itself has exploded in the past 20 years. I graduated from LSU in the late 1990s, and my out of state cost was only about $10,000 per year including room and board. It was the biggest reason I went there. Most other places were between $15,000 and $20,000. I graduated college with about $18K in student loan debt (which took me about 17 years to pay off, but that's my own fault). These days, what I paid for four years of college might not cover one year. Out of state tuition is almost $28,000 per year at LSU, and with room and board it's about $40,000. Estimated cost of attendance, according to LSU's own web site, is $50,575 for a student living in a residence hall. In-state cost of attendance is almost $135K. And that's for a mid-level state school. I imagine it's proportionately worse at more prestigious schools or private universities. Bottom line, people are graduating with a lot more debt. The interest is a drop in the bucket. Even at 0 percent interest it would take them years to pay off $100K in loans. I can tell you from personal experience that private student loans, which I used to supplement my federal loans, do not have “pretty low” rates. And they can go up after you graduate. |
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Post by Deleted on Jun 25, 2019 3:31:12 GMT
Yeah. The private loans are in the 12-14 pct range. But that's less than 10 percent of the market.
Federal loans are around 5 percent for undergrad and 7 percent for graduate. That doesn't seem terrible. I'm not totally sure of the structure though or whether those loans can be sold after you graduate, but I do hear a lot of talk about the student loan market being predatory along the lines of payday lending or reverse mortgages.
If you find yourself having to rack up $100-150K in principal, though, maybe there's another option for your education.
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