I had student loans as my parents couldn't afford to pay my way through college. I worked my butt off and in my early years even worked 2 jobs to get my loans paid off so I would have it done, finished, and not having to worry about it any more. Now Biden wants to pay off student loans, or at least pay $10,000 of each loan off. How is this fair? This whole stimulus deal has been a cluster fuck with some getting money and others still waiting or have already gone down the drain. If they get $10,000 of their loans paid off then everyone else should get $10,000 of one of their loans credited to their loan account. Biden said this but so far has not done it. It's all talk at this point. Some critics say that students who took out loans, even if defrauded by for profit schools, should have to pay back their own loans. Let's look at it this way. If you get defrauded in some deal the Government is not going to pay your debt, you are stuck in most instances. People talk about fairness and equality yet I don't see any of it happening.
Is it fair for student loan debts to be paid off while others worked their asses off to pay their own off?
I- personally - have seen college debt issue mess from just about every possible angle. Short answer - it's not fair. Socialism never is, but because it hides behind a false facade of equality, it gives the impression that it is. Details- I worked summers, etc to pay for half of my college, back when it was $1,000-1,100 per TERM for ALL classes, and this was NOT a state college. My parents paid the other half and I needed no loans. My wife and I paid for our two daughters college educations, but they had to pay for all the incidentals, fees, books, meals out, snacks, gas for their cars, etc. Both of them got some merit scholarships. No outstanding loans. Somewhere in here, I went back for my Master's- classes were about $1,250 per 3-hour COURSE, so that was sticker shock! My company would pay for one course per term, so that's how I did it- over about three years, no debt. But, of course, I had to keep working for that company only! My younger daughter married a guy who had a lot of college debt. It didn't help that he changed majors, which added more classes, and, more debt. They were mostly government loans, which after TEN YEARS of working for government-run schools, students could have any leftover balance forgiven. They have been making all of their required payments on time, each month, and since his ten years is almost up, should have the remainder forgiven. But this is not part of the great fiasco the socialists have cooked up: my son-in-law had to deal with ten years of work in a $#(% &$$ school district and be making payments just to get the last few bits waived. I would not agree that people should get ANY part of their charge accounts waived for no good reason other than they don't have student debt, if only for the simple reason that they shouldn't get their STUDENT debt paid for no good reason either! (I know you understand the following, but maybe some others don't or just don't WANT to.) But the basic framework of socialism is to promise everything to everyone and worry about paying for it later. Well, guess what gang, NOW ISLATER!
As Margaret Thatcher had said, “The problem with socialism is that you eventually run out of other people's money.” And we aren't already at that point, we will be very shortly.
Honestly I think people aho fail out should have any loan balance forgiven. They don't stand a chance in paying it back. Maybe hold them to a few thousand dollars and that's it, whatever, but $30,000-$50,000+? Seems doubtful they can pay it anyway.
We put three kids through college. We did it the old fashioned way, we paid for it ourselves. We filed all the FAFSA forms and jumped through all the hoops. We got zero help from anyone so thanks for nothing FAFSA. If people go to college and major in sociology and can't get a decent job when they get out, that is not my problem. My kids all majored in math or science and they all make more money than I do.
People need to get majors that has jobs, not for being a librarian. There are a lot of trades that are disappearing because the people who do them are dying off and no one wants to get their hands dirty. Like who makes wagon wheels or wooden auto wheels anymore. There is still a need for wheel wrights believe it or not.
There wre plenty of factory jobs that usd to pay a living wage but rverything is made in China. There there is a container ship that is bigger than 3 football fields. I comes to the port of Los Angeles from China practically awash with Chinese made goods and goes back to China practically empty. For the last 20 years I thought I was the only one that had a problem with that until we finally had a president that felt the same way.
You know after reading this posting, it literally hit me on a good solution for student loans to be paid off completely, an in a way, have the college educated individuals pay it forward, showing their gratitude.
Now, before the loan is actually paid off, the college educated must have maintained a 3.5 average throughout college. (for those who don't understand, that's a “B” average). Which is really fair and will definitely help what I'm about to propose.
Also, this also comes with the stipulation that the college educated will be residing within the United States territories. There is no real reason to pay off a college tuition if the education is not going to be used to maintain finances within the country that paid it off. (this is not the solution yet)
now if neither one of these conditions have been met, the student loan taken out to help pay for this should rightfully stay with the individual. For two simple reasons : if you can’t maintain the B average, you weren't really trying to get an education. And if you were only there on a visa, you were just here for the better education and not going to contribute anything back.
Now for the college educated to really prove their gratitude:
before the loan is paid off, the students will sign a legal document stating that they will provide no less than 500 hours of pro bono work in the field of study they just graduated in, within the first ten years of graduation.
Not only would this show their gratitude, but it would also definitely help with providing support for so many who are going through a hard time.
Think of how many people could use another doctor in a free clinic?
What about a fresh civil engineer helping when there was a natural disaster and damaged houses need to be inspected for safety so that families can come back to retrieve missing items?
What about how many people could actually talk to a lawyer because somebody decided they wanted to sue them? This would actually free up lawyers with years of experience to handle criminal cases.
Now, I can already hear people screaming about how the graduates couldn't do that because they don't have the training for it...
Well, if they don't have the experience for it, what's good would they do with the diplomas then?
This is life. It's not "fair", it just is what it is. I worked through the pandemic, between 64-96 hour/week, while going to school full time. Paying my own way the whole way. Meanwhile, I have friends who were sitting back getting stimulus checks on unemployment and making close to what I was with no free time and barely enough time to even sleep.
So what? That's life. I'm just living it. It does absolutely no good to sit around and compare my life to others. some will have more opportunities and breaks, other people are getting f'd in the a$$ every day. I'm somewhere in the middle and sitting around complaining about it or doing research to find out just how much I'm missing out or whatever is a practice in insanity.
I don't disparage anyone anything. If my friends got stimulus and unemployment while I worked my ass off, power to them. If people are getting $10,000 knocked off student loans while I paid out of my savings and paycheck so I don't even have loans to pay off, power to them. I don't have time to try to seek justice and equality, I'm busy making my own way in this world and it is paying off just fine. I'm happy, healthy, making good money and getting a good education to make even more. I have wonderful friends and family and I know I will meet a wonderful woman sometime here along the way. I get time in nature, time to read and pursue my interests, exercise, etc. Life is good. I don't care if others are getting benefits that have somewhat "disenfranchised" me. Whatever, it's still good!
When people talk like you do Karma sees it and will screw you over even more until you cry "Uncle". I didn't ask for your life story, just if you thought it was fair.
It is absolutely insane to even think of the federal government paying down the debt of individuals. There was a parasite here on G@G last year who had the gall to ask if he should vote for Biden because he was promising to cancel student debt. When I responded to him that I had no interest as a taxpayer in paying for his schooling, this "person" couldn't even understand that the debt just didn't disappear, that the cost of such an addle-brained idea would have to absorbed by the taxpayers. That's the kind of mentality that is becoming more prevalent in society every day. There are so many people these days who are so out of touch with reality, they think that the government can wave a magic wand and make all of their personal troubles disappear. Unfortunately, they're deaf and blind to the fact that it doesn't work that way.
You can ask whether or not student loan debts are fair or not, but your thoughts are slanted to your views and experience. I have mounted almost 100k in student loans over 8 years over 4 different colleges that went under bankruptcy, closed down and I received no degree, and no transferable credit to another college, but I still have to pay back my student loans. And I have almost paid them off. I studied for a degree in Computer Network Security in which I have loads of knowledge in this field but can't work in it because of it. So if the current administration wants to forgive money on my student loans, I will be all over it and I would be grateful.
So you are saying that students who were scammed should pay their student loans and you should get the relief? That sounds completely like someone who has privilege.
They can join the party of all the millions of people who have got scammed one way or another. Most were trying to get some good deal and it bit them in the ass. Call it greed.
No! It's also unfair to the men and women who took vocational trades over college degrees in order to avoid the burden of college loan debt. It's also unfair to the men and women who enlisted in our armed forces in exchange for help with their college tuition. It's also unfair to the students who gave up their social lives in High School in order to graduate at the top of their class and earn merit scholarships.
my nieces don't like it. They didn't get their education free. Same with housing crisis in 2008. People that shouldn't of gotten loans for a house in the first place, got their houses paid for and those that paid and never missed a payment got nothing but lower interest on money in the bank. Not fair. It is paying the expenses for losers in society.
No, they bailed out the mortgage lenders. The people who bought houses and were upside down in their loans and owed more than their houses were worth were the ones who got screwed.
All these weird people not wanting good things for others because they didn't get it. Geesh.
I am sure most students of today would happily trade a minor benefit like that for you know, affordable housing and decent wages. That said education is a good start. Could stop allowing companies to be stated in the bermuda? Would more than pay for it.
It's like cruise ship which are all registered off shore so they don't have to pay US Taxes but they sure don't mind making their money off of US citizens taking cruises.
It wouldn’t even make a dent in the loans my kids have but it’s just another crazy idea he has and also about paying people with kids under a certain age and few hundred dollars a month per kid, where does he think the money is coming from? I know more taxes but also creates inflation by printing more money with no backing that didn’t come from hard work
At some point the American education system should be changed.
It definetely sucks when you are part of the last generation/graduation year/... that has to pay the ridiculous fees and stuck in a crippling debt, but at some point you have to make the cut or otherwise there won't be any changes.
Maybe there will be some money coming to those of the older generations who paid or are still paying off their student loan debts.
no its not fair at all. i can see an argument for freezing the loans but you were dumb enough to take the loan you pay it off. stop the future interest fine but pay it off
i think all loans are essentially no interest if you pay them off fast enough but veterans get no interest loans for houses don't they? its not unheard of to have no interst loans
more importantly its functional. keeps the raving lunatics under control
Good for you for working hard and paying your student loans off! That gets you ahead in life and you are no longer paying all that money towards interest. And it shows great discipline.
Is it fair? No. Is it the right thing to do? Yes. It isn't fair that cavemen had to die of easily treatable diseases but we don't. Why should we not help the future just because we had no help in the past?
I take it you either didn't go to college, someone paid your way, or that you owe a lot of student debt and would benefit from it. That's like stealing money from the poor people who had to give up a lot in order to pay their own way through college.
I went to college mostly for free because of a state grant program. But I had to work to pay for everything but the tuition. That doesn't matter, yes it does suck for people that didn't get loans, but that doesn't mean the people with loans should have to suffer
When you take a loan out to buy a house and you can't make the payments does anyone bail you out? Nope, say Hi to foreclosure. And you may still owe some money after foreclosure too as you are responsible for what the house sells for at a foreclosure sale and what you owe.
learn how to play the system do u think the rich bother paying taxes so why should you care that much about paying back a student loan unless you have to.
makes more sense to earn as much as you can and then put the rest in your pension to keep under the threshold why pay more tax than u need to?
When someday this money needs to be paid back through outrageous taxes. I hope that the freeloaders of today have enough sense to realize that they helped to put the US in the shape that it will probably end up being in. Can not keep spending imaginary money for long. Thumbs down people. Have big enough gonads to at least list your age!!
It's not fair. These people made the conscious decision to get themselves into mountains of debt, and it's therefore their responsibility to pay it off.
Sad but true, just as people who gamble or buy stocks can lose and get into debt. no one is paying their debt off. How many people just go to college to party and screw around? They should be responsible to pay their own debts. Why should taxpayers pay for someone to party for 4 years?
If the government starts footing some of the bill for the ridiculous prices for education maybe they will do something to make it more affordable So you don't start out owing so much money before you even start making money
It's like the people who paid for their own college education and are now in decent jobs suddenly having to pay for others to have college degrees just by being taxpayers. It's coming out of your pocket one way or another.
More like those who have gotten a descent job after getting school debt and finally getting a break. We pay for our taxes as well and yet we are not given any breaks.
@COMMODOREII Good point. Seems it would make sense to simply use the taxes we already pay to fund the schools rather than pay taxes now plus tuition loan payments.
Then everyone who had debt should get bailed out too. Bailing out everyone is like the IRS being bailed out but they won't give anyone slack if you can't make payments. Banks, mortgage companies that got bailed out in 2008, who were making $millions off people shouldn't have been bailed out. They probably had a $Billion stashed away.
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