It's ok your degree is worthless.....

[AUTiger1]

and you racked up thousands in debt to get a degree in Hieroglyphics or Gender Studies.  Uncle Joe is going make sure that the American taxpayer takes it right in the ass for your fuck up.  God bless the USA!

Seriously, up to $10k if you make less than $125k and if I read correctly, if the household has two with college loan debt they will forgive up to $20k for a household less than $250k.   When is enough going to be enough?  When are people going to wake up?  I fear never. 

[Buzz Killington]

and you racked up thousands in debt to get a degree in Hieroglyphics or Gender Studies.  Uncle Joe is going make sure that the American taxpayer takes it right in the ass for your fuck up.  God bless the USA!

Seriously, up to $10k if you make less than $125k and if I read correctly, if the household has two with college loan debt they will forgive up to $20k for a household less than $250k.   When is enough going to be enough?  When are people going to wake up?  I fear never.

People are already woke.  Wait, what?

[AUTiger1]

This one royally chapped my ass.  I had college loans.  Several thousand dollars, but I went out and got a job, and I made a payment every month for a good long time before I paid it off.  PPFffftttt!  What a crazy ass concept!  You mean to tell me that if I borrow money from an institution I am on the hook for paying it back?  Well, that was until Yesterday.  I demand that I get mortgage debt relief.  Not my fault that I bought a house and some land last year before the housing market got over inflated (which is going to crash hard, soon, again!) that was affordable.  I need that relief. 

I swear, in the last year and almost 9 months I think someone has slipped me crazy pills. 

[AUJarhead]

And the problem that got all these college graduates/students into debt still isn't solved.  So we'll be back here again next election cycle.

[AUTiger1]

And the problem that got all these college graduates/students into debt still isn't solved.  So we'll be back here again next election cycle.

I heard one of the talking head quacks talking about how this will help lower the cost of tuition.  Huh?  The government is going to bail out these loans so what makes you think this is only a one time deal?  They'll continue to back loans and colleges will continue to raise tuition.  More proof that the government getting involved with something always ends in a train wreck.

[GH2001]

why don't we address the two bigger issues ever:

1. the cost of higher ed - hint: its astronomical

2. and why we keep throwing loans at idiots who will never pay them back normally - to pay for said higher ed


As long as 2 keeps happening, 1 will keep happening. Supply, meet Demand.

I worked my way through college - 1 year at JUCO on a scholly, and 3 at AU no scholly, no loans. I know it was cheaper between 95-99 but I had a plan. What do those of us who did it the prudent way, get out of this deal other than to pay off someone else's stupid mistake?

[AUJarhead]

I'd be more than ok with these loans having the interest rate dropped to 0, and any money paid to interest gets retroactively applied to the principle, and then going forward, any government backed loans carry 0% interest.  If a flat fee of 100-500 per term that you apply for Fin Aid is needed to handle admin fees, that would be built into the loan.

OR

Continue the way it is, but if a student claims bankruptcy while carrying a student loan, the government gets it's money back from said school's endowment.

I think there are tons of options out there, besides just waving a magic wand to remove debt, that weren't even discussed.

[GH2001]

I'd be more than ok with these loans having the interest rate dropped to 0, and any money paid to interest gets retroactively applied to the principle, and then going forward, any government backed loans carry 0% interest.  If a flat fee of 100-500 per term that you apply for Fin Aid is needed to handle admin fees, that would be built into the loan.

OR

Continue the way it is, but if a student claims bankruptcy while carrying a student loan, the government gets it's money back from said school's endowment.

I think there are tons of options out there, besides just waving a magic wand to remove debt, that weren't even discussed.

Fed Gov, Loans, DOE - you know how this works.

Kind of like FDA and Big Phrama.

Its a big racket JH.

[Buzz Killington]

Bbbbbbut Nina Turner assured me the taxpayers shouldn't be worried about this because the money is coming from the Federal Government.

[bottomfeeder]

It'll never happen. It's unconstitutional, but the millennials don't know that. This is merely another desperate attempt to garner votes for the midterm elections. Sadly, the very people who would potentially benefit, don't know that it's unconstitutional and would never survive a vote in the House of Representatives (where it should be debated, if it's ever to be considered).

[Kaos]

Tuition is the problem.  Or the first one. 

I could work a part time job and pay for college. 

Cost now? By the time you add in housing, food, basic cost of living?  You’ve got to pull in 25-30k a year just to scrape by.  Can’t do that working 20 hours a week at Dunkin’.

And that’s a problem. 

[GH2001]

Tuition is the problem.  Or the first one. 

I could work a part time job and pay for college. 

Cost now? By the time you add in housing, food, basic cost of living?  You’ve got to pull in 25-30k a year just to scrape by.  Can’t do that working 20 hours a week at Dunkin’.

And that’s a problem.

They are charging it because they can. Its no different than the current inflation and supply/demand.

The demand is there with higher ed because any idiot can sign crazy loan papers and "worry about it later". You know, kind of like how Pharma can charge what they want for insulin and other drugs because of tie ins to insurance and the FDA.

The govt keeps fueling the endless, artificial, stupid funding of "demand" in many realms - housing, personal credit, drugs, higher ed - and all that will ever do is increase the cost of those things and build a house of cards. You're seeing those things come home to roost in a few different ways now with runaway inflation, gas and college loans/cost.

And they then will pretend to "fix" them by throwing more money at them thus making it worse in the name of coming to the rescue. I cannot understand how people can't see this ruse.

"Govt does not solve problems; it subsidizes them" - Ronald Reagan

[Kaos]

They are charging it because they can. Its no different than the current inflation and supply/demand.

The demand is there with higher ed because any idiot can sign crazy loan papers and "worry about it later". You know, kind of like how Pharma can charge what they want for insulin and other drugs because of tie ins to insurance and the FDA.

The govt keeps fueling the endless, artificial, stupid funding of "demand" in many realms - housing, personal credit, drugs, higher ed - and all that will ever do is increase the cost of those things and build a house of cards. You're seeing those things come home to roost in a few different ways now with runaway inflation, gas and college loans/cost.

And they then will pretend to "fix" them by throwing more money at them thus making it worse in the name of coming to the rescue. I cannot understand how people can't see this ruse.

"Govt does not solve problems; it subsidizes them" - Ronald Reagan

It sucks.  My first graduated from Auburn with zero debt.  She worked, had a small scholarship and what I paid covered the rest. 

My second?  Graduated from South.  She worked - often two jobs - I paid her rent, helped with tuition. My investment in hers was almost triple what I gave my first child.  She's still looking at about 30k in loans after four years.

[GH2001]

It sucks.  My first graduated from Auburn with zero debt.  She worked, had a small scholarship and what I paid covered the rest. 

My second?  Graduated from South.  She worked - often two jobs - I paid her rent, helped with tuition. My investment in hers was almost triple what I gave my first child.  She's still looking at about 30k in loans after four years.

My oldest doesn't want to do the 4 year university thing. Want to do a skill, technical skill, specialized training.

My youngest is heading full steam down the path to a full track scholly in D2/FCS (more than likely).

I may come out of this unscathed.

[Kaos]

My oldest doesn't want to do the 4 year university thing. Want to do a skill, technical skill, specialized training.

My youngest is heading full steam down the path to a full track scholly in D2/FCS (more than likely).

I may come out of this unscathed.

You're never unscathed.

[Buzz Killington]

You're never unscathed.

^^^This^^^

[bottomfeeder]

Tuition is the problem.  Or the first one. 

I could work a part time job and pay for college. 

Cost now? By the time you add in housing, food, basic cost of living?  You’ve got to pull in 25-30k a year just to scrape by.  Can’t do that working 20 hours a week at Dunkin’.

And that’s a problem.

Federal dollars along with guaranteed loans caused the hyperinflation of a college education. In the 80s, a college biology book costs about $30 used, but now it's more than $200 new. Digital copies are much less.