Should we get rid of student loans and other large scale loans for young adults?

Question

Many people blame the fact that students carry so much debt on how easy it is for young adults to take out large loans so early in life after being pressured.

Should we remove the ability for young adults to take out large loans for education, supplies, housing, etc. so that they can't get into debt so early in life?

Personally, I think massive loans are an excellent tool when used correctly. I don't think they are the issue.

Should we get rid of student loans and other large scale loans for young adults?

Drewtate · Accepted Answer

What we really should look at is why a college degree is so expensive and whether the lower degrees can be done over the Internet or through a community college. We should also look into the value of a college degree and if there should be a minimum academic ability required of students to go to college, like if you can do basic maths or read and write maybe college isn't for you.

AviatorTom · Accepted Answer

Learning how to deal with money is a very important thing to learn. Having a loan, understanding what it is (including the concept of interest), and how/when to pay it off is a great learning experience. It also builds character and a feeling of responsibility.

Despite what some politicians might say, there is no free ride in life.

Anonymous · Accepted Answer

I don't think the question is asking about forgiving student loans, but about not having them at all. That would be a good idea.

Give students a maximum of $1,000 a semester, so the most your loans could be when you graduate would be $8,000. Then ridiculously high tuition would have to drop, because those have skyrocketed due to the availability of unlimited student loans.

@zestyassmf1997

@darkcloud1945x

IslaTheWitch · Accepted Answer

It depends. You know, getting something for free makes it feel like it has no real value.

And let's be honest, college or university education isn't essential. People should calculate before deciding on a specific field of study and related loans.

But I have no strong opinion in this area...

Keith469 · Answer

In a sane egalitarian society, education would be seen as a social investment, and education would be entirely paid for by tax revenues. A well-educated populace is possibly the very best form of national, civic, and societal security, so learning should be made available to all, without encumbrance.

But the egalitarianism fostered by well-educated populace represents a threat to the privileges of the privileged. and student loans are just one of many ways the masses are kept indentured for life as wage slaves to the wealthy.

Kelley1 · Answer

Allow the loans but allow them to be discharged through bankruptcy. In that event, banks will not make the loans without adequate collateral. As a result, colleges will be required to lower their tuition and other expenses they charge students and lay off all the needless staff.

NamerOfStars · Answer

The way forward is simple- but fraught with opposition. All you need to do is make student loans forgiveable via bankruptcy. Those who're paying them off and willing to take the hit will; those who're trying to build their financial reputations up won't. The banks will become incredibly more selective, and companies will stop requiring degrees for jobs that don't need them.

Lots of suffering in the short term, but it'd solve the problem.

wiltingrosepetal · Answer

Yeah more countries should use HEKS debts. It's a subtle tax added onto your working salary that slowly pays off the student loans. Aussies have another tax that stores part of the salary away for a retirement funds. Good system since it only starts when you get a working salary, no student loans debt hitting you when you're unemployed

Zestyassmf1997 · Answer

I’m honestly unsure. On the one hand…we can’t just let all those naive kids have their lives ruined because they were pressured into taking predatory loans to pay for shit that was actually worthless. On the other hand…forgiving the loans would sort of be a big middle finger to the people who did pay off their loans, and probably to some lenders too.

DARKCLOUD1945X · Answer

Everyone who took out a lone knew what it was going to cost. Before you get your loan forgiveness, I want mine first I want every penny back. I don't want to pay for your WOKE USLESS DEGREES.

LiamJHayden · Answer

No, but student loan debt and consumer credit card debt should not be so difficult to remove via bankruptcy. It seems crazy that I could borrow $millions for a venture that fails and bk it away, but some 18-year-old high school student can be suckered into a much smaller debt by false promises of a great career and then never be able to get rid of it except in extreme circumstances.

JayBones · Answer

Yes we should. Only the rich should be able to be educated. Everyone else should be used for labor and as tax slaves.

Flower7 · Answer

I feel like it’s wrong for people to be able to get into debt so easily for education but it’s next to impossible for them to get loans for more practical things like housing.

Even later in life, it’s very very hard for people to get a home. It shouldn’t be that way.

Anonymous · Answer

Who is going to pay for these student loans?

We are told that college graduates will make twice what those who don't go to college so should those tax payers without a degree pay for those that do have a degree?

zagor · Answer

We need to bring down the cost of public universities. Way too many administrators now who don't teach or do research. For example, UCLA has over 30 people in their DEI department, which didn't exist 15 years ago.

DJB72 · Answer

The cost of the degrees needs to be capped. In the 60s and 70s you could still live on a single income. The main reason people can't now is student debt they're struggling to pay off

CozyCoffin · Answer

Nah. Just lower the salaries of the administrators and teachers, student amenities, the ability of the campuses to keep buying up properties or building others so often and other things so the tuition goes down and lowers the overall cost. Make sure that's the entire country at every institution. Get rid of the interest as well, it should be considered an investment, not a loan.

exitseven · Answer

No, we need to forgive all home mortgages and make it so nobody over 65 has to pay taxes.

Paul09 · Answer

I'm still not sure what make Murica great. No health care, no paid schooling. Like wtf? They don't care about people's health or education. Just profit and army. Go to a different country for schooling.

AngryCarl · Answer

Student loans are a pernicious tax on education.

Anonymous · Answer

No, debt makes good business for me

jahaims · Answer

Nope

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