Current Events > Why canceling student debt is a really bad idea

(+) Yeah! (+)

Because of this



The very first thing the government should do is fix this. Tell schools they will only cover loans for tuition increases up to a certain % every year. Make schools responsible if a student defaults on a loan. Cut federal funding to states that don't give a certain % of funding every year to higher education , etc.

Then think about canceling student debt. Otherwise student debt will quickly build up again.
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What they should do is force a donation allocation, retroactive to the beginning of time, that states at least 50% or so of donated funds must be applied to tuition credits equally distributed among students.

There are campuses with buildings built on a single donation that would cover several years' worth of every student's tuition. And not because of size or technology. Because Senator Asshole decided that his name must be immortalized as the guy who funded that dumbass Taj Mahal at Derpingon U.
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Is there a reason why that chart looks like a mammogram?

We should do both. We dont fix a problem then tell all the prior victims to get fucked.
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Easy student loans caused the tuition spikes.
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr733.pdf

All this mass loan forgiveness push is, is government attempting to solve a problem that government created.

CommonJoe posted...

We should do both. We dont fix a problem then tell all the prior victims to get fucked.

Exactly this. This is why Bernie pairs his student loan forgiveness plan with free public college: it ensures that no one will ever struggle with student loans ever again(unless they go to a private school, I guess) and that most education costs are handled directly by the government.
Doing just one of those things would suck: if you don't try to fix education costs, we're just going to end right back here, if you don't help the people who have already been screwed, you're going to embitter them and possibly disillusion them or turn them against the whole idea of reform.

CommonJoe posted...

We should do both. We dont fix a problem then tell all the prior victims to get fucked.

Sure we do. Even the debt forgiveness program doesn't do jack for people who have paid off their debt already and have delayed significant personal Investments to make that possible.
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ElatedVenusaur posted...

CommonJoe posted...

We should do both. We dont fix a problem then tell all the prior victims to get fucked.

Exactly this. This is why Bernie pairs his student loan forgiveness plan with free public college: it ensures that no one will ever struggle with student loans ever again(unless they go to a private school, I guess) and that most education costs are handled directly by the government.
Doing just one of those things would suck: if you don't try to fix education costs, we're just going to end right back here, if you don't help the people who have already been screwed, you're going to embitter them and possibly disillusion them or turn them against the whole idea of reform.

This still ignores a whole mess of people who were already screwed. The people who paid off their loans in full and people who paid outright/prepaid.
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its just insanely overpriced for all education.

no should have hundreds of thousands of dollars of debt for simply learning a discipline
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DevsBro posted...

ElatedVenusaur posted...

CommonJoe posted...

We should do both. We dont fix a problem then tell all the prior victims to get fucked.

Exactly this. This is why Bernie pairs his student loan forgiveness plan with free public college: it ensures that no one will ever struggle with student loans ever again(unless they go to a private school, I guess) and that most education costs are handled directly by the government.
Doing just one of those things would suck: if you don't try to fix education costs, we're just going to end right back here, if you don't help the people who have already been screwed, you're going to embitter them and possibly disillusion them or turn them against the whole idea of reform.

This still ignores a whole mess of people who were already screwed. The people who paid off their loans in full and paid outright/prepaid.

Sucks to suck
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s0nicfan posted...

CommonJoe posted...

We should do both. We dont fix a problem then tell all the prior victims to get fucked.

Sure we do. Even the debt forgiveness program doesn't do jack for people who have paid off their debt already and have delayed significant personal Investments to make that possible.

I wouldnt be opposed to paying those off too, provided the financial records to prove it exist and can be provided naturally.

And given Bernies proposals to fund this program would eventually be pure profit after all the debt is paid off, I doubt hed have a problem with it either.

Debt forgiveness is focused towards addressing the people struggling in the here and now. Those that didnt struggle or eventually got through it arent the focus, as those people currently arent being crushed by a mountain of debt.
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DevsBro posted...

This still ignores a whole mess of people who were already screwed. The people who paid off their loans in full and paid outright/prepaid.

Rewarding responsibility doesn't pander to near as many potential voters.

CommonJoe posted...

Debt forgiveness is focused towards addressing the people struggling in the here and now. Those that didnt struggle or eventually got through it arent the focus, as those people currently arent being crushed by a mountain of debt.

Yeah we are, and it still accumulates interest at the rate of a Roth IRA I had to wait to open.
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Bail out banks, farmers and auto manufacturers for bad business decisions:
Forgive student loans: THE WHOLE ECONOMOY WILL COLLAPSE

Rexdragon125 posted...

Bail out banks, farmers and auto manufacturers for bad business decisions:
Forgive student loans: THE WHOLE ECONOMOY WILL COLLAPSE

We should honestly all boycott GM.
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DevsBro posted...

CommonJoe posted...

Debt forgiveness is focused towards addressing the people struggling in the here and now. Those that didnt struggle or eventually got through it arent the focus, as those people currently arent being crushed by a mountain of debt.

Yeah we are, and it still accumulates interest at the rate of a Roth IRA I had to wait to open.

Dont be disingenous. I recognized that you probably should be forgiven as well, but dont sit there and pretend youre suffering the same as others right now.
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People are cool with Wall Street being bailed out now? Because otherwise the "we bailed out Wall Street so it's ok" argument would make no sense at all.

Look at that graph. Real college tuition cost has increased by almost 4x since the mid 90s and if the trend continues it's going to get even worse. Once you spend $1.5 trillion to cancel current student loan debts, how quickly will they build up again?

Just cancelling student debt would be like bailing out Wall Street but without the Dodd-Frank Act.
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