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Student loan debt forgiveness

MediumBaller

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And honestly, even if people are out buying "$6 cups of coffee", who cares? Having student loans doesn't mean someone shouldn't be allowed to enjoy basic luxury goods every now and then. Dinner or drinks with friends every so often. A movie, a ballgame, etc. That amount of money you'd spend doing those things isn't going to be the difference between paying off your loans and not. We're talking about college students, not violent criminals. They shouldn't be sentenced to rice and beans every day for the crime of going to college.
 

Deezus

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And honestly, even if people are out buying "$6 cups of coffee", who cares? Having student loans doesn't mean someone shouldn't be allowed to enjoy basic luxury goods every now and then. Dinner or drinks with friends every so often. A movie, a ballgame, etc. That amount of money you'd spend doing those things isn't going to be the difference between paying off your loans and not. We're talking about college students, not violent criminals. They shouldn't be sentenced to rice and beans every day for the crime of going to college.
But if they lived with their parents and stopped masturbating so much...
 

col63onel

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Why is a college education a human right again?
Whole point of education is so that the citizenry is ready to enter the workforce as productive members of society . As has been mentioned before, you used to be able to provide for a family with a HS diploma. College was only for the relatively small portion of jobs that required advanced schooling.

However, a much larger percent of jobs moving forward will require AT LEAST a bachelors degree (https://cew.georgetown.edu/wp-content/uploads/2014/11/Recovery2020.ES_.Web_.pdf on my phone so I can’t do a ton of research but here’s a study saying almost 2/3 of jobs require some sort of college). So if we want to have an adequately prepared workforce, that will mean college.

So I don’t look at it as a “right”, as it’s what necessary. It’s just that workplace has advanced beyond what K-12 is education is able to prepare people for.
 

Lee

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It is appropriate. He also generalized an entire generation of people as lazy, entitled, and spending their money on coffee and $500 car payments, when, in fact, I posted factual articles from respected sites showing that the rise in wages doesn't even come close to equaling the rise of costs for education, housing, and food. This shit affects my children... So I have some skin in the game, here. Cut the all-encompassing generalizations. Look at the factual research of costs vs. wages. Get your heads out of your collective assess. (not necessarily aimed at Lee, bob, or anyone... just in general). I'm sick of the ignorance.
I said not everyone....derp...i also said the costs have gone up to much and we need to fund our state schools...derp....and i have a kid in high school and it will directly effect me too...derp....but you seem to ignore those points. My biggest argument of your ignorance quite frankly.

My main argument is against free school. And i also said the worst offenders of over spending seems to be my generation, although i am amazed at how many retired people are able to live on 1k or so AFTER they pay their mortgage....i only know this from approximately personally viewing 50,000 credit reports in a 17 year career, excuse me if i speak from personal experience over reading an article.

I also looked up the facts of average income and average student loan debt per those on the loans. I threw facts to that you conveniently ignored but took my coffee example as the only thing i said in probably 20 posts in this section, so excuse me i dont trust your comprehension from articles if you only pick and chose from my posts.

If you want to be an asshole be an asshole, i cant stop you. But please read all of my words, not just the ones that annoy you. I am not saying all millennial's over spend, but I would guess the ones screaming the loudest allot of the time do overspend. In all of my posts on here over all the years, i have never called some one an asshole before, congrats for that.
 

Lee

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That you have to put your life on the line, or get your nuts blown off, just to afford college in this country is utterly fucked up.
100% agree, risking your life is fucked up to have to go to school. But it really has a fantastic program. Also, fun fact about military people, VA loans have the lowest by far foreclosure rate of any loan although typically they are 100% loans with no down payment. I can tell you the spending habits of our active military and vets are typically some of the best, not always, but military really does set you up for life and discipline in many ways.
 

bob2the2nd

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But if they lived with their parents and stopped masturbating so much...
Funny story I live in my own house, but pretty sure I just injured myself masturbating this morning.

You may have seen the torn PCL. But the point is I have a torn ligament in my knee

I bent my knee the wrong way while I was jerking it this morning and haven't been able to walk straight since.
 

Lee

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And honestly, even if people are out buying "$6 cups of coffee", who cares? Having student loans doesn't mean someone shouldn't be allowed to enjoy basic luxury goods every now and then. Dinner or drinks with friends every so often. A movie, a ballgame, etc. That amount of money you'd spend doing those things isn't going to be the difference between paying off your loans and not. We're talking about college students, not violent criminals. They shouldn't be sentenced to rice and beans every day for the crime of going to college.
Thats actually my point. Baby boomers were raised by those that went through the depression, after the war it was a total different attitude and they did sacrifice. Today we have more ways than ever on spending our money, but yes if you have debt it means you have to sacrifice. I think bankruptcy should be those that go through truly tough situations, death of spouse, medical, extended loss of job, etc, but to often i see the BK on the credit report and ask about it comes down to just overspending.

And i made an example that shows if you have the habit of buying Starbucks every day before work, so 5 days a week for 50 weeks, it literally adds up to $15,000 in 10 year period. 10 years is the length that the average student loan is amortized over, 15k is 50% of how much the average student loan debt currently is for graduates.

Listen to Dave Ramsey sometimes, not many are willing to make those type of sacrifices to get out of debt in 2 or 3 years like he preaches too, lord knows i made a ton of mistakes in my 20's, and even made mistakes the first time i made 100k, so i am not perfect by any means, but if you have to put it on a credit card, no matter how poor you live, then you cant afford it.....period.

In the end it does suck how expensive school has gotten and something should be done, but i was arguing against its impossible paying off student loans. I went through it with the housing bubble, consumers never want to blame themselves, banks fault, should of given me the loan, the bank knew my house value was going down, etc....if you got a predatory loan where you didnt know it was adjusting, then you are right, you were taken advantage of, but the media and politicians want the consumer to continue to listen so in society today we never blame the consumer, but the consumer has to take 50% of the blame, far less than 50% of the loans out their were predatory (subprime didnt mean predoatory, just means non fannie or freddie loans), and allot of the student debt is because kids took way more than they should to go to schools they shouldnt to get useless degrees?

Did i say all? no, because school expenses have gone way up, kids get bad advise from parents and school, and probably shouldnt be able to get all the loans they are getting.

But look at the grief i am getting for saying some of this debt issue falls on the students too, that consumers cant wash their hands of making bad decisions because everyone placates to them.
 

King Stannis

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100% agree, risking your life is fucked up to have to go to school. But it really has a fantastic program. Also, fun fact about military people, VA loans have the lowest by far foreclosure rate of any loan although typically they are 100% loans with no down payment. I can tell you the spending habits of our active military and vets are typically some of the best, not always, but military really does set you up for life and discipline in many ways.
Ouffda. That last part is trying a wee bit too hard to sell it.

Have you met Joe?

@Marcus @Tlyons
 

Out of the Rafters at the Q

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@Lee is it fair to compare the budgets of young adults and senior citizens?

Their expected activities and lifestyles are not equal.
 

Lee

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@Lee is it fair to compare the budgets of young adults and senior citizens?

Their expected activities and lifestyles are not equal.
Yes and no. I agree they arent as active, dont need close for work, drive far less, but it is amazing they can live on 1k after a mortgage including utilities, food, etc. Ofcourse i am sure they are on food stamps, but still.

But my point goes back to forgiving student loans, still think it is forgiving bad decisions, i am not saying all students are in the position they are, but the inability to buy a house thing is far exagerated, that i know for sure, and when i do see over 100k in student debt and their first name is not Dr, they almost across the board when i ask them about their student debt the admit it was a mistake and allot of the time they got a pretty useless degree. I rather break up the 2 trillion on supporting public college and bringing down the cost than forging debt.

Quite frankly at this point, we should just try and keep the cost of college from rising any more, with healthcare being a bigger issue imo, something has to give. Utopias cost money, one this country cant afford, and healthcare is more of a basic right than i higher education and no way we can afford both for free for all.

And i looked it up, about 5% of people with student loans owe more than $100k, not saying 90k isnt allot, but the debt is allot more managable for most than they are letting on. Like i said before, i see the debt many times a day, every day. I am amazed how many people have 60k in student loans and 2 car payments over $500 too. Bad choices.
 

Out of the Rafters at the Q

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Yes and no. I agree they arent as active, dont need close for work, drive far less, but it is amazing they can live on 1k after a mortgage including utilities, food, etc. Ofcourse i am sure they are on food stamps, but still.

But my point goes back to forgiving student loans, still think it is forgiving bad decisions, i am not saying all students are in the position they are, but the inability to buy a house thing is far exagerated, that i know for sure, and when i do see over 100k in student debt and their first name is not Dr, they almost across the board when i ask them about their student debt the admit it was a mistake and allot of the time they got a pretty useless degree. I rather break up the 2 trillion on supporting public college and bringing down the cost than forging debt.

Quite frankly at this point, we should just try and keep the cost of college from rising any more, with healthcare being a bigger issue imo, something has to give. Utopias cost money, one this country cant afford, and healthcare is more of a basic right than i higher education and no way we can afford both for free for all.

And i looked it up, about 5% of people with student loans owe more than $100k, not saying 90k isnt allot, but the debt is allot more managable for most than they are letting on. Like i said before, i see the debt many times a day, every day. I am amazed how many people have 60k in student loans and 2 car payments over $500 too. Bad choices.
I think we might be in agreement here.

I agree that the government forgiving student loan debt is not the best use of funds. I would prefer to address the exorbitant cost of admissions. I would prefer to fight for wage increases among the working class and income equality when you're looking between classes. I would prefer to provide universal health care. I would prefer to actually take steps to combat climate change.

I also think there's money for all of this. I would prefer to stop subsidizing industries that fuck this country over. I would prefer to halt the cash cow that is the military-industrial complex. I would like to see a tax structure that makes sense. I would prefer to stop bailing out financial institutions (which I feel is going to happen again before November 2020).

I think you're getting blasted by some because you're coming off as vehemently against forgiving student loan debt. You also sound like you're generalizing large swaths of people, which never goes over well.
 

Lee

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I think we might be in agreement here.

I agree that the government forgiving student loan debt is not the best use of funds. I would prefer to address the exorbitant cost of admissions. I would prefer to fight for wage increases among the working class and income equality when you're looking between classes. I would prefer to provide universal health care. I would prefer to actually take steps to combat climate change.

I also think there's money for all of this. I would prefer to stop subsidizing industries that fuck this country over. I would prefer to halt the cash cow that is the military-industrial complex. I would like to see a tax structure that makes sense. I would prefer to stop bailing out financial institutions (which I feel is going to happen again before November 2020).

I think you're getting blasted by some because you're coming off as vehemently against forgiving student loan debt. You also sound like you're generalizing large swaths of people, which never goes over well.
I am jaded for sure because of my industry and constant dumb use money. All day long I pull credit with major credit card debt. Consumer debt in total is over 4 trillion, credit card debt is almost as high as student debt, its obscene.

And all those people saying well for me and my friends, trust me you cant speak for your friends, you can speak for yourself, but I assure you people are never truthful about their debt situations. Heck, often spouses aren't aware of the debt that has been racked up, no way you know about your friends.

And I do think we agree, and you right it doesn't come off well, but my track record of helping people on here with finances should speak to some degree that I am speaking the truth and they should learn rather than fight the truth. And I will say my generation is far worse than millennials on the debt side.

My big thing was some were complaining that is unaffordable to go to college and I was proving that wrong, abut I really do feel allot of this student debt is from stupid decisions, like I said I see the debt all the time.

As for healthcare for all, I think we do that, it saves us money, not costs us. Yes we increase taxes specifically for healthcare, but we as a nation will no longer have to pay $500-$1000 a month or more to insure ourselves. Most people would be shocked how much our employers have to pay to insure us much less our portion.

And while the biggest issue with climate change is consumer habits, stop subsidizing fossil fuels and put that money into developing cleaner air planes, or maybe modern nuclear power, or something of that nature.

And I do agree we spend way to much on our military and send way to many Americans to war for fights that our not our problems.

But in the end I was just annoyed at the woe is me attitudes, every generation has its issues, we are lucky that we haven't had a draft since the early 70's, but no one seems to care how lucky they are for that, younger generations have technology that I couldn't even dream of, but no one is thankful for that. Yes life is hard, but life was hard for past generations too. Instead of complaining about how tough life is for your generation, do something about your lot in life and improve yourself. But the blaming of other generations has to stop, because the truth is as millennials raise their kids....their kids will grow up and tell them how shitty of a job they did and how millennials fucked their generation, because that is the American way and it really needs to stop.
 

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