Hilarious! Student loan forgiveness… NOT!

Steiner Math wrote:

applied economics wrote:

What you stated is still very inefficient. The entire student loan process is a subsidy to private colleges and private universities. Public schools should be tuition free, at least for first two years. Private schools, some have close to 1 billion in endowment. Some private schools do not need to charge tuition. Government subsidizing private schools is very inefficient. Your idea does not improve inefficiencies.

Your solution is to make all public colleges free (who pays and what is the incentive to check the spiraling costs). And no more loans to private colleges, so only the very rich need apply?

There is a big flaw in my proposal, it would incentivize schools to prioritize applicants that can afford to pay without taking loans at the expense of the poor of the working class. I don't know how to get around that.

What I am stating is not reinventing the wheel. European nations, for the most part have already done this. In-state versus outstate is inefficient. For Minnesota and Wisconsin students who live in one state but have family or social ties to the other state, in-state tuition reciprocity works out well. What about Minnesotans who have ties to Iowa or North Dakota or South Dakota? No similar deal. I don't know if Wisconsin residence have tuition reciprocity with Illinois. Mobility of labor is great for a nation. Our current state by state in-state tuition system is very inefficient. With in-state tuition, we are already subsidizing community colleges, public trade schools and public universities. I do not see subsidizing private colleges and private universities as a way to aid poor and working class in U.S. Are you under the impression that private colleges and private universities are superior to public universities? The private colleges & private universities with reputations of elite status or usually the schools with over one billion endowment. I doubt there would be a net increase in cost to tax payers if all grants and subsidies were removed from private schools. I sure would like to find out. Public universities were tuition free in CA to era of Reagan as governor. Reagan killed the program in order to punish civil rights protesters and war protesters. As I stated in prior post, some private colleges have over one billion in endowment, many have over $250,000. Private schools, if no subsidies may continue to offer scholarships and aid to students of need. Many private colleges do not need to charge tuition to students. If no private school subsidies, alumni from private colleges will need to donate more in order for some or many private schools to survive. Some or many won't. Not the end of the world. Europe made most of their colleges and universities public. Some were allowed to go out of business.

Education should be free (paid by taxpayer) to begin with.

Yes, you, reading this, should be paying for people to study at university and also be happy about it too.

If you want to know why, I can gladly tell you.

Biden voters lose again!!!

Master of Lolly wrote:

Education should be free (paid by taxpayer) to begin with.

Yes, you, reading this, should be paying for people to study at university and also be happy about it too.

If you want to know why, I can gladly tell you.

No thanks. I think I speak for a lot of people when I say NO, I don't want know your libbed up reason for why I should pay for your indoctrination. I'd rather flush my money down the toilet.

Adding to the hilarity, two-thirds of student debt is held by women

some sane person wrote:

Taking out massive loans to go party at a private school for 4 years and graduate with a worthless BA is more selfish and irresponsible than running up a credit card bill buying designer clothes or taking out a loan to gamble.

It's insane that stealing money from working people to pay off the debts of those cretins is even considered.

Get a degree in accounting, engineering, nursing, physical therapy, materials/industrial, business, graphic design, marketing, IT, law, medicine, etc from the public university in your state and you'll be able to pay off your debt in a couple years. Go to some $60,000 a year private school that's a 4-year long party at a country club where you graduate with a degree in meta-analysis of mongolian poetry, you're gonna have a bad time.

On the other side... I think it should be illegal to target low income folks with credit cards with 25% APR or those pay day loan people. Its nothing more than legalized loan sharking. The entire country is set up to keep the poor poor.

Take two kids, one has parents well off. The other doesn't. Well off kid gets help saving for a car, this allows the more part time job opportunities. Poor kid can get to jobs within walking distance.

Well off kid goes to college and receives a student discount on car insurance. Poor kid after it takes them longer to save pays MUCH higher insurance because they cant afford community college or 4 year program.

Well of kid gets out of college with mum and dad paying and is off and running.

Poor kid maybe can do college part time but either way is subject to years of lost income compared to kid coming out of college debt free in 4 years.

Every single step along the way the system is set up to keep the poor where they're at.

I don't know about forgiveness and how it will all work out in the end, I'd like to see real number and the impact on the economy and taxes. But I am certain they need to stop giving these loans out immediately. It's already bad enough.

We inflated away 6.7% of your student loans in the last 12 months so there's that.

yes european university system is great. people get free gender studies education and then even state paid "research positions". this is the only thing that would happen. people studying useless subjects getting hired into companies as diversity managers, having no qualification, just annoying working people with more regulation and measures.

I wonder how many idiots went out and ran up their credit cards thinking they were soon going to be getting government windfall checks in the mail for the student debt relief?

Seriously dude, you need a job coach. There's something wrong with your persona at work.

nooneisthegoat wrote:

yes european university system is great. people get free gender studies education and then even state paid "research positions". this is the only thing that would happen. people studying useless subjects getting hired into companies as diversity managers, having no qualification, just annoying working people with more regulation and measures.

Europe does not only produce Latin Studies majors and Art History majors. Tuition free education has been a part of European low cost health care system. For U.S., medical doctors, ophthalmology and dermatology are the fields that I believe allow U.S. medical doctors to earn the most. I don't think ophthalmologists and/or dermatologists are necessarily the smartest medical doctors. It seems as if a medical student makes friends with This ophthalmologist or That dermatologist, a medical student wins the lottery. Reason why ophthalmologists &/or dermatologists in U.S. earn more than other medical doctors is due to frequency of procedures. Both type of doctors can schedule many minor and quick surgeries. It is simply a quirk in Medicare, medicaid and health insurance billing. Our current education and health care systems are very inefficient. We have programs for medical doctors here and there. Tuition free medical school then work in a need based area for four years. Doctors either try to get out of their four year commitment or move on as soon as possible. If medical doctors were given tuition free education from age 3 through medical school, the need to make over one million per year would not exist. See tv show from about 30 years ago, Northern Exposure.

As some point out, many state schools have jacked up tuition to near elite private school levels in order to pay for bloated overhead. No way should the apprentice HVAC technician have to pay for someone's career development or non,-development.

They want their parents house on day one.

No living in a 2 BR apartment shared with roommate to then move to condo to single family house after a few years. Your first house will not your forever home but good enough to build equity so in the future you can move up.

nix preferred pronouns wrote:

As some point out, many state schools have jacked up tuition to near elite private school levels in order to pay for bloated overhead. No way should the apprentice HVAC technician have to pay for someone's career development or non,-development.

Expensive public universities tends to be more of Demand & Supply (but not in the usual way to think) and U.S. News & World Report ranking. If U.S. News & World Report ranking create Demand by listing UC-Berkley &/or U.C.L.A. very high overall, F.A.F.S.A. supplies the money, then Demand & Supply as we think of it sets a high price from top public universities and other public universities charge a fraction of cost of top public universities. Once universities have the tuition money THEN universities think of creative ways to spend the money, as you state, bloated budget. Public universities need to be tuition free and this inefficient F.A.F.S.A. system needs be done away with. If there is no jacked up tuition at public universities then maybe HVAC technician will choose to go to UMN or another high price public university and obtain a B.S. in accounting. The solution to reduce or eliminating tuition costs of public universities is not continuing with status quo and certainly not treating public universities as the enemy.

To add to what you are saying, if everyone had free government school starting at age 3, I bet we would have the problem of millions of people falling for misinformation they read on the Internet.

Kobbs Hessler wrote:

Adding to the hilarity, two-thirds of student debt is held by women

And isn't a good bit of the student loan debt being accrued by people pursuing graduate and post graduate degrees?

I know internet began circa 1969 but internet did not become practical until circa 1997, when A.O.L. came out with a flat rate. Before 1997, internet was an expensive long distance phone call. My formal education was complete by then. I have only taken continuing education courses here and there since internet. If you are implying I learn from internet web sites, you are incorrect.