If you are able to get a student loan, you should be required to pay it. Why should lazy slugs who do not want to work their asses off after getting a college education need to be bailed out? Members of my family paid their student loans to the last cent, why should any of us bailout others who just want a free handout? Let them keep their loans outstanding and unpaid. The Federal government will take their monies thru garnishing their salaries if it comes to that. They will pay it whether they like it or not. Declaring bankruptcy will not extinguish those student loans as well.
Corona Virus Relief Package. As usual, an embarrasment.
- Thread starter Tsing Tao
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it's not only the parents who are going to be pissed off.... it will be many of the students.
When a student busts their butt working during summers, working part-time at school, and doing everything to pay their own way..... and they see sorority girl Karen or fraternity boy Kevin partying all the time, going on big trips in the summer.... all thanks to student loans..... and now these people are going to have their student loans paid off with tax dollars..... these hard-working students are going to be pissed.
I don’t know what to say to this. I get people will feel it’s unfair. That’s the lifeblood of our politics, grievance. What I will say is my wife and I didn’t get the last stimulus and we aren’t this next one but it’s not something we’re mad about. As a matter of fact we both would like to see bigger payments. But this is more of the feelings of the argument not the merits.
We don't get the stimulus direct payments either.
The intent of the stimulus direct payments is for people to spend the money in their local economy on necessities. The reality is that 40% of people simply put the money in bank, 30% spend the money on "wants" such as large screen TVs typically bought online (and not locally). Only 30% of recipients spent the money locally in stores for food, etc. or on rent.
The reality is that the majority of people did not need the $1200 to help them due to COVID. They still were employed and had no extra expenses. Nobody turns away "free money" however.
The direct payments are one of the most wasteful programs in recent history. The pool of money dedicated for direct payments should have been used for helping the unemployed and underemployed (due to COVID) and for increasing "welfare" oriented assistance (e.g. EBT, etc.) to those in need due to COVID.
I will note my opinion about these direct payments have nothing to do with me not receiving them -- my opinion would have been the same if the government sent me a check. (and yes, I would have kept the money... but donated it to our local foodbank in addition to the financial support I already provided this year).
And other variations of that statement such as: If colleges and university degree students want to be eligible institutions for students to attend with federal loans, the aforementioned colleges must be able to demonstrate that they are graduating students who - on average- go on to achieve sufficient earning power to repay the loans being sought.
The colleges are the real beneficiaries in the college loan scams. They benefit regardless of whether the loans are repaid or not. There is no claw-back provision.
The college loan scammer system is also the major driver of the explosive increase in college costs, which in turn leads to even higher and higher student loan amounts for students to attend. Colleges have virtually no incentive to reduce costs.
I am not even remotely interested in controlling their study programs. If Portland State University wants to specialize in degrees in Underwater-BasketWeaving for Transgenders, they should just keep on doing that. But if they do not have data showing that their graduates of those programs have sufficient earning power, and/or their graduates have a high default rate, then applicants should not be eligible for federal loans. or should be capped at some amount.
When you actually look at what is driving tuition rises it’s actually cuts in state and federal funding first and foremost:
That only makes my point. The data is reported per student, not sure it was awarded per student though, or whether it is state funding of community colleges or whatever.
It only makes my point though. If students lose state or other sources of funding they just borrow more from the federal programs and the college still gets its pound of flesh with skin in the game if the student defaults.
Or maybe you have a chart that shows a correlated reduction in tuition where states funding has been cut?? OR NOT.
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This does not explain the tuition rises at all the private schools. The huge chunk of the tuition increases are driven by student loans are easily available.... the money is "free". In fact when your family goes for orientation at these private universities, part of their pitch is the student loans.
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All you have said is that there is a scam going on. Can you show me any evidence of this other than you looking at college tuitions and jumping to a conclusion there must be some scam. Show me where you think the money is egregiously going, whose making out from the scam?
Perhaps student loans should not be available to private schools if there is a scam.