Current Events > Should any more federal school loans be issued?

(+) Yeah! (+)

Since we agree that these loans are very bad and need to be forgiven, I assume we are going to no longer issue these bad and predatory loans moving forward.

Or do we just keep forgiving them every now and then?

just make college free

At the very least community college should have been free years ago

The next move should logically be addressing the problem at the source by pressuring institutions to lower their outrageous tuition costs.

Mezcla posted...

just make college free

Making community college free was a part of BBB. But that bill didnt pass.

Agreed on free college. Should do that first before forgiving the loans

Bump

Jagr_68 posted...

The next move should logically be addressing the problem at the source by pressuring institutions to lower their outrageous tuition costs.

Cutting off the easy-money teat will do that immediately.

If we eliminate federal loans, all that will be left are private and theyre much, much worse.

AloneIBreak posted...

If we eliminate federal loans, all that will be left are private and theyre much, much worse.

Yep. There should be so many federal loans that private loans are squeezed right out of the market

No. If these are bad loans deserving being wiped out they shouldnt be available in the first place.

or it's a stimulus package to people who have invested in education because we want a country of educated people instead of the hellscape we currently live in?

Robot2600 posted...

or it's a stimulus package to people who have invested in education because we want a country of educated people instead of the hellscape we currently live in?

Then why not give the money to anyone with student loans, even private? They could apply for the stimulus and get the money from the government

Dat_Cracka_Jax posted...

Then why not give the money to anyone with student loans, even private? They could apply for the stimulus and get the money from the government

cause he said he was gonna do this specific thing and then he did and that looks good.

he also supports your idea too, but said congress is going to have to pass something if people want more.

unrelated to the above stuff: people in general need to get real. they are forgiving 10,000 on already problematic loans. ppl are still paying, and this money literally isn't real.

it's like the government said "You owe me 1,000,000" and then Joe Biden, "ok nevermind let's make it 800,000"

meanwhile FOX cries :"But TAXPAYERS are gonna have to FUND this!"

but that's not fucking true at all.

first, the fact that it's just debt-money is not like there is an actual bill coming due anytime soon. we can think of the 10k forgiveness as forgiving the LAST 10,000 that any given student would have paid back, since money is money (i.e. fungible). when we do that, the risk becomes much less: we don't really want to bet that the government in 10 years will be able to better use that money than individuals. individuals spend money much more effectively (i.e. regular PEOPLE don't waste that much of their own money).

plus, income is taxed ANYWAY at those high-paying jobs that are generated from college degrees. more college degrees = more income tax = this "forgiveness" likely even pays for itself.

Robot2600 posted...

first, the fact that it's just debt-money is not like there is an actual bill coming due anytime soon. we can think of the 10k forgiveness as forgiving the LAST 10,000 that any given student would have paid back, since money is money (i.e. fungible). when we do that, the risk becomes much less: we don't really want to bet that the government in 10 years will be able to better use that money than individuals. individuals spend money much more effectively (i.e. regular PEOPLE don't waste that much of their own money).

This.
That money has already gone where it's going, and it's just numbers on paper now. That website you log into to make payments is functionally just a contractor managing it.

There shouldn't even be tuition, let alone loans