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Should student loan debt (USA) be forgiven?

Dancing Fire

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And this is why Trump is going to win. If even liberals don’t support these ideas, we are doomed to another 4 years. But hey, we will all sleep well at night knowing that we are responsible individuals living under an irresponsible government.
Would you support the idea for taxpayers paying off my daughter's mortgages?
 

Dancing Fire

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To allow for those who have made mistakes to move forward with their lives. That is where compassion comes in. Forgiveness of people’s poor choices.
I made a poor choice of buying a 3ct diamond. Will you pay off my CC balances ?. Pretty please, don't you have any compassion?
 

GliderPoss

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That's very interesting. I like the idea of garnishing wages - that's a good way to ensure repayment. Who pays the debt of students who'll likely never earn the set amount?
Yeah that’s definitely a loophole of unpaid debt but I guess statistically if you have a degree (or even part thereof) hopefully you will earn over the minimum wage to pay it back! $40k a year is not an enormous sum - I made around that as an unskilled receptionist fresh out of uni.
 

missy

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And yet. You didn’t address my questions. Like I said. I’m shocked because most posters here define themselves as liberals. I expect republicans to disagree.
Hi @nala in an ideal world it would be great to take care of student's loans and offer them the education of their dreams. Unfortunate that this is (has become) a partisan issue because I (a liberal) don't look at this issue as one. I look at it as we cannot possibly pay for everyone's education as much as that would be wonderful (in an ideal world) and the way I feel about this topic has nothing to do with my history.

But then again I consider myself an independent and not a democrat or republican. So socially liberal but somewhat financially conservative.


How about your doctor? Have you ever needed a lawyer? I guess you think that you live in a society in which only the ultra rich can access these careers. And your are ok with that because hey, you did fine. Love that argument. Human nature can be so petty sometimes.
I don't agree that only wealthy people can obtain a good education in our country. Most of my friends are not rich and most of them have advanced degrees. Some of them millennials so it is possible and probable because most people I think are not rich who go into those fields.

Because going to college isn't a necessity. It's a choice. Anyone can take out loans, if that is what they need to do to pay for higher education, but they also need to understand that they are responsible for paying it back. That's not elitist, it's being an adult.
Yes, it comes down to personal responsibility which I support 100%. I am tired of the me me me elitist attitude I observe. To become a successful adult one must take personal responsibility for one's life and one's financial obligations.
 

missy

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Forgive me for multiple responses. Just reading posts one by one and responding as I see fit.

No. You are missing my point. I said that I take issue with the argument that most posters are writing. I paid for it so you should too. That’s the issue.
@nala I don't see this as the main argument at all. I don't think this is the reason many of us are stating. We are saying it comes down to personal responsibility and paying for one's financial obligations. Realistically, in a country the size of the USA how else could it work? Again in an ideal world how amazing it would be to pay for everyone to attend the school of their dreams. But we live in reality. And have to make it work here as best we can.
 

missy

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whether you are a liberal or a conservative it is still your responsibility to pay off your debt. Entitlement!, entitlement!, entitlement!... :wall::wall:
Yup, agree completely.
This might be the first time I ever agreed with you @Dancing Fire. Happy New year. :lol:
 

missy

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That actually is a huge issue. For some reason certain people in our state government decided that virtually everyone (other than special ed) should be on a college prep track, and so the C-average kids think they all should go to a 4 year school, too. So they manage to get in and end up dropping out, or like @rocks said, end up taking longer to get a useless degree and have all that debt. The sad thing is, there's a shortage of people going to trade schools and there's a lot more money to be made in some of those jobs. People such as plumbers, electricians, car mechanics, computer technicians, etc. stay busy and make good money. So everyone loses with the idea that all kids need a college prep academic track. I have said forever that there needs to be a tech/trade school track for a lot of students in high school. My state just doesn't get it, thus far. (Well, I have an idea why, but that's another issue.)

(Sorry for all the posts...this whole issue is one of my pet peeves after being an educator my entire career.)
Yes, not everyone should go to college or higher education. Not everyone has the same skill set or mind set and there are so many fields out there one can go into more suited to their personal needs. What a shame everyone is being pushed to college/graduate school vs let's say trade school etc. It should be based on each individual. Period.
 

missy

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I’m not gonna sit here and argue with you about a moot point. Our
personal feelings on the matter are irrelevant…

It is a far greater disservice to create an entitled victim mentality, than to teach the importance of personal/financial responsibility.
Truth. In the long run, the greatest gift we can give any young adult is to take personal responsibility for their actions and make their life what they want it to be. It is within their power and control. If not up to them then who?

fish.jpg
 

missy

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It's ludicrous also that not having money places so many barriers on a child's education. How many geniuses does society lose out because they don't pursue the spark of a talent in math, science, whatever because they fear they can't afford to? I people who didn't pursue med school for that reason and no surprise we have a shortage of primary care physicians. It's frustrating considering we live in a country that can afford to solve these problems. :/
Yes we have a physician shortage. I think it is because one doesn't make as much as a physician with insurance companies etc fighting them all the way. It's a lot of education for not so much money. Depending on one's speciality. For example, I think there is a shortage of internists (they earn relatively less compared to specialists) vs dermatology. As an example.

It comes down to pay. Same for teachers. We don't pay teachers enough for the awesome and challenging job they do. So what do we expect?

How can we attract the best and brightest when the income isn't sufficient? Yet we pay professional athletes so much and movie stars so much. Because they bring in revenue. BUT still, we are neglecting such a critical part of society overlooking teachers and physicians. Not right.

How can we fix this?
 

missy

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The saving grace is that physicians currently earn a lot (assuming they don’t go into primary care or academia. Who needs those anyways
I think we need both primary care physicians and those who teach other physicians. IMO this is critical to have a strong health care system.

For one, you develop a relationship with your PCP and he/she gets to know you and provide good health care when they can and refer you when necessary. They get to see you as a whole person vs just body parts. They can (hopefully) see the entire picture and provide excellent care in most cases. IDK IMO this is crucial to a healthy health care system. And those who teach just as critical.
 

missy

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my simple answer is YES.

My long answer is yes because I believe these kids were sold bad information and believed they would be able to get out of college or grad school and improve themselves. When I was young any major could get a job.. today it's all STEM, not many people can do programming, yes there are coders and there are data scientists, robotics and many more areas where it's a heck of a lot more than just code 'boot camp'.. so I think we bailed out the Savings and Loans, car manufacturers, and banks we should bail out our kids and young adults, our most precious commodity, our future.
Kate the great and wise my sweet friend. Yes in an ideal world I completely agree with you. I think everyone should be provided an excellent education however they can get it. I just don't see how we can possibly provide one for everyone who wants one in the USA. The sheer number of people here makes it impossible.

I also think most young people know what you wrote above about school not being the end point to success. That they cannot just go to college and get the perfect job that will pay off their school loans. I think that is common knowledge now or at least I hope it is. I think most of us realize that going to a good school ensures nothing re future success.

I would argue it is possible to get a good education on one's own if one is motivated. And let's face it, in order for most of us to be successful we have to be motivated. There are 2 year community colleges that one can pay for with working part time and taking out loans if necessary. There are lower cost options out there. And then one can transfer to a 4 year college if that is the right track for that individual. You can also get your job to pay for a higher degree ie MBA when one is in the work force. There are many different options out there and I would argue if one wants to pursue higher education but is lacking in funds one can find a way. It isn't easy I agree. Life is hard. At one point or another we all realize that and we all do the best we can under the circumstances. There is (as I wrote before) "no free lunch" generally. I learned that from an early age.

That doesn't mean I wouldn't love for all the hard working kids to get exactly the education they want ie ivy league if that is their dream (at how much is that now? 100K a year?) but that isn't realistic and that is not how life works. Sad but true and we have to work within the parameters and abilities we have. IMHO we just don't have the ability to send all kids to the higher education schools of their dreams. But I maintain if one wants higher education there is a way they can obtain it. Perhaps not easy and perhaps not at the ideal school of their dreams but they can still make a good future for themselves.

Isn't that the American dream?

The belief that anyone, regardless of where they were born or what class they were born into, can attain their own version of success.

The American Dream is achieved through sacrifice, risk-taking, and hard work.

IMHO. And believe me, I empathize for young adults. I know life is harder for them than it was for us. But it is still possible to achieve the American Dream. Of that I feel sure. Takes hard work and sacrifice for sure but it is possible.
 

Daisys and Diamonds

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Yes, not everyone should go to college or higher education. Not everyone has the same skill set or mind set and there are so many fields out there one can go into more suited to their personal needs. What a shame everyone is being pushed to college/graduate school vs let's say trade school etc. It should be based on each individual. Period.
That's a great post dear missy
we can't all be accountants or psychologists- someone has to be a plumber and a builder and a sparkie and those trades have just as much value as any proffesional
I serously think my other half is one of the cleverly people i know
he can build a house from a hole in the ground right up to the kitchen cabinets !

And some of us even have to be shop assistants if you'd all stop shopping at amazon for 10 minutes :P2
 

missy

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That's a great post dear missy
we can't all be accountants or psychologists- someone has to be a plumber and a builder and a sparkie and those trades have just as much value as any proffesional
I serously think my other half is one of the cleverly people i know
he can build a house from a hole in the ground right up to the kitchen cabinets !

And some of us even have to be shop assistants if you'd all stop shopping at amazon for 10 minutes :P2
Yes, dear @Daisys and Diamonds I agree. I value a good plumber and electrician and contractor as much as a good physician truth be told.

And haha yes I am taking your last sentence to heart. I must stop Amazon shopping.:lol: It is a dangerous and slippery slope to be sure.
 

Daisys and Diamonds

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Yes, dear @Daisys and Diamonds I agree. I value a good plumber and electrician and contractor as much as a good physician truth be told.

And haha yes I am taking your last sentence to heart. I must stop Amazon shopping.:lol: It is a dangerous and slippery slope to be sure.
I shop Amazon US
but only when i can't buy things locally
i live a long way from New Jersey ;)2

Mind you the exchange rate, the shipping and the new NZ gov Amazon tax really kill it for me
 

MakingTheGrade

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I think we need both primary care physicians and those who teach other physicians. IMO this is critical to have a strong health care system.

For one, you develop a relationship with your PCP and he/she gets to know you and provide good health care when they can and refer you when necessary. They get to see you as a whole person vs just body parts. They can (hopefully) see the entire picture and provide excellent care in most cases. IDK IMO this is crucial to a healthy health care system. And those who teach just as critical.
Haha. Sorry I was being sarcastic in parenthesis. Guess it doesn’t come across. I myself am in academics and pediatrics lol.
 

Mayk

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I put myself through college, borrowed money for books and worked full time. It took me a lot longer to finish. But my debt was not catastrophic because I had a goal every semester to pay off the books before the next semester.

If your family can’t afford college there are options. The community colleges are more affordable and offer numerous opportunities for scholarships. Working while going to school, on line programs, etc. there are more options today than ever before.

I’m not a fan of forgiving debt. If I buy a house I can’t afford is the bank going to forgive me? Choosing to load yourself with debt throughout college is a choice. Paying for it shouldn’t be a choice.

This sadly has become a right/left thing and it shouldn’t be.
 

mellowyellowgirl

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Is there any chance your government will run a state scheme going forward to fund college degrees?

In Australia the government lends us our money to study at university. Interest is only charged at the inflation rate.

When you finish your degree, if you get a job (any job it doesn't need to be degree related) and earn over $45k (around there) they will automatically deduct a portion of your pay until you pay it off.

If you stop working for whatever reason or fail to earn $45K you pay nothing. If you resume work later they resume deducting. It is extremely fair and gives everyone access to higher education.

ETA: You have to pay for your own books and lifestyle though. But most of us live at home and have part time jobs so that bit is easy to cover.
 

missy

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Haha. Sorry I was being sarcastic in parenthesis. Guess it doesn’t come across. I myself am in academics and pediatrics lol.
LOL, OK I hear you and part of (all of probably) the misunderstanding is my fault. Oliver woke me at 4AM and then I was up so decided to do 3 loads of laundry so my sleep deprived brain is short on subtlety haha. :lol:
 

missy

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Is there any chance your government will run a state scheme going forward to fund college degrees?

In Australia the government lends us our money to study at university. Interest is only charged at the inflation rate.

When you finish your degree, if you get a job (any job it doesn't need to be degree related) and earn over $45k (around there) they will automatically deduct a portion of your pay until you pay it off.

If you stop working for whatever reason or fail to earn $45K you pay nothing. If you resume work later they resume deducting. It is extremely fair and gives everyone access to higher education.

ETA: You have to pay for your own books and lifestyle though. But most of us live at home and have part time jobs so that bit is easy to cover.
It's great that Australia has such a successful plan in place. Maybe for state run schools it has a possibility of working here. IDK. We have a lot of people living in the USA. What works in smaller countries/continents might not work here the same way. For private schools however it is an entirely different matter. But yes, I agree. Higher education should be available to all those who want to pursue it. And there are ways to get a higher education for a lot less money. So not everyone has to go to a school that costs tens of thousands of dollars a semester.
 

missy

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I put myself through college, borrowed money for books and worked full time. It took me a lot longer to finish. But my debt was not catastrophic because I had a goal every semester to pay off the books before the next semester.

If your family can’t afford college there are options. The community colleges are more affordable and offer numerous opportunities for scholarships. Working while going to school, on line programs, etc. there are more options today than ever before.

I’m not a fan of forgiving debt. If I buy a house I can’t afford is the bank going to forgive me? Choosing to load yourself with debt throughout college is a choice. Paying for it shouldn’t be a choice.

This sadly has become a right/left thing and it shouldn’t be.
Totally agree. It shouldn't be a partisan issue. I wish we could all just employ critical thinking to each issue vs making it left vs right.
 

Tekate

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Well I agree it isn't a necessity but it's sold that way.. All I ever heard during high school in the 60s was you must go to college if you want to get ahead in America, when I was a kid there were jobs that really didn't care if you had a degree in English or Social Studies. Just get that degree.

The young people who too out loans especially during the Great Recession were sold this bill of crap too. I would love to forgive loans for young and old people who believed this and thought they would advance in life.

It's a communities responsibility to support the community. Our young people are not buying homes, having kids, advancing, I bought my first home with my ex-idiot when we were 25, FHA loan, borrowed 100% plus closing fees.. interest was 8.75%. Savings rates were about the same. Today the interest on federal backed loans is 4.53% to 13.22% https://www.nerdwallet.com/blog/loans/student-loans/student-loan-interest-rates/

Today interest on a savings account is 1.6% to 1.9%. I see young people falling behind.


A bit of a dichotomy I'd say.

CD's aren't much better https://www.bankrate.com/banking/cds/cd-rates/

So the only reasonable way out of the whole some of gotten into is better salary, upwardly mobile. Like I was back in the 70s, 80, 90, 00s, 10s. Till '13 when I was freed from work. BUT we have wage stagnation and while the interest rate on these college loans hasn't gone done, the interest is higher and savings rates and CD rates, we have had wage stagnation. Things have incrementally become better in the last 2 years, but not enough to make a real dent in a young person's ability to advance, buy a home, have a child, be productive, it's depressing actually.

I do not want to see out of control inflation but I do think we owe young people, and people with untenable college loans some assistance. A support rather and the tripe "I did it you can too" maybe not maybe we couldn't do it today.

the jobs of the future don't look all that high paying to me. Don't see doctor, lawyer or president of company on there.


A reasonable plan to assist those people who will never be able to see their debt paid off is a fair and reasonable plan and one I support wholeheartedly.

The times's they are a changin'.




Because going to college isn't a necessity. It's a choice. Anyone can take out loans, if that is what they need to do to pay for higher education, but they also need to understand that they are responsible for paying it back. That's not elitist, it's being an adult.
 
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Tekate

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Well Nala has a point, we are liberal till it's our money, but I would point out our national debt is totally out of control and we aren't paying it back, we have cut taxes for the highest earners while shoving a small tax break on the middle class, we as a country aren't paying back. This is another topic I know but the attitude of don't borrow if you can't pay back, I don't think any person borrows and thinks they won't pay back. everyone has heard the golden stories of "I started out in the mailroom! and now I'm a 3rd line manager making 120K a year, you can too" except that many middle manager jobs are disappearing, who needs them? just overhead. Lawyers are being pushed out by software and nice lawyers in India who work for much less.. doctors? they are being over taken by software, medical assistants, nurse-practitioners, and AI. All high paying jobs are seeing the creep of tech, even software will be able to re-write and improve itself. Don't need the guy/gal at the counter at McDonalds just go to the kiosk if it's working that is, self checkout, home delivery (stores will def lose because of all the things we pick up because it looks good and delish) we need innovators and we need job creation within a changing world, we don't need depressed young people, they are the future.


Right.

We borrow money… We pay it back. You borrow money… You pay it back.

Anyone who borrows money is responsible for paying it back.
 

House Cat

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I wasn’t that stupid. I was barely 17 when I graduated from hs and understood very well how loans would impact my life. I had student loans and had to plan accordingly. I had something called a regents scholarship....it was a purely academic award, and a requirement was that you attend school in ny. My dad said that he wanted me to take advantage of it; if I didn’t, I was financially responsible for the differential. My parents paid for 80% of costs to attend a very prestigious liberal arts college. Vacation time? No, i went home to work. As for grad school... my father said, it’s on you. I have an mba from a top 20school....I was accepted at a top 10, but when I politely turned down the top 20, they came back with a generous offer...that I accepted. I was lucky enough to be able to live at home and get my loans paid off. The commute was brutal. Sometimes the school of hard knocks provides the best education.
You might not have been “that stupid” but how do you explain the millions of stories of people who can’t start families, buy homes, or even get out of their parents houses due to crippling student loan debt...but oh, they have their degrees and are working! I’m sure they have a plan to pay off their loans too and it will be for the next 20 years and it will eat up more than 50% of their paychecks. How were they to know that would be the case when they were borrowing to fund these grand futures that everyone told them they would have if they would just get a college degree?
 

House Cat

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Nope. I don't subscribe to this at all. Kids don't need anymore excuses - they need to be taught that there are consequences to their actions.

For entire generations, students applying for loans have understood that borrowed money must be paid back. My 6th grade nephew grasps the concept easily.

We have GOT to hold kids accountable for their actions (which, let's be honest... 18 year olds are hardly "kids"). To think a high school graduate (or older) can't possibly comprehend this or have him believe that it's the "bank's fault" he can't/won't pay back the loan he took out is ridiculous. This is the type of coddling I detest. Seriously, feeding kids this victim mentality has got to stop.

------------------------------------------------------------------------------------------------------------------------

My first year in pharmacy school was super tough on me. I'd call my dad about every other week or so during the first semester, crying that I hated it/couldn't do it/wanted to quit. It only took a couple of calls until the conversations went something like this:

msop04: "...dad, I just can't do this. I've been studying and I don't get it... I feel like I'm gonna fail out - seriously."

dad: "Well, take a break, go outside, and have a good cry. Then come right back in and keep studying, because you can't afford to fail."


At the time, I thought that that was so harsh of him to say. But he was absolutely right... and I'm a better person for hearing it.

True story.
Then parents should teach their kids about student loans and not encourage their children to take them out in order to fund their college educations. If their kids (and parents) can’t afford college out of pocket then they should go to community college and work to save for university. That is how people can be accountable for their actions.
 

House Cat

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Let’s face it, there’s is a whole generation of PARENTS who have encouraged their children to take out student loans when no one was thinking of the consequences to the children’s lives in the future. This is garbage. Kids trust their parents to steer them in the right direction. These parents have been so desperate for their children to have a college degree that they have hobbled their children’s’ futures.

I’m not making excuses for these kids. I’m stating facts.

The age of 18 years old is still a kid. I am a totally different, far more mature individual than I was at 18 and I was too mature for my age. By 18 I had been living on my own for two years. I was still naive to many parts of the world and I had a lot to learn.

Are there young people out there who can make smart decisions when it comes to school finances? Yes. All of my older children are that way. But if I had been the type of parent who encouraged them to take out a mountain of student loan debt because “that was the only way they would have any kind of future” then maybe things would be different for my kids.

There is much more at play here than simple entitlement and irresponsibility on the kid’s part. I think we need to see that.
 

missy

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Let’s face it, there’s is a whole generation of PARENTS who have encouraged their children to take out student loans when no one was thinking of the consequences to the children’s lives in the future. This is garbage. Kids trust their parents to steer them in the right direction. These parents have been so desperate for their children to have a college degree that they have hobbled their children’s’ futures.

I’m not making excuses for these kids. I’m stating facts.

The age of 18 years old is still a kid. I am a totally different, far more mature individual than I was at 18 and I was too mature for my age. By 18 I had been living on my own for two years. I was still naive to many parts of the world and I had a lot to learn.

Are there young people out there who can make smart decisions when it comes to school finances? Yes. All of my older children are that way. But if I had been the type of parent who encouraged them to take out a mountain of student loan debt because “that was the only way they would have any kind of future” then maybe things would be different for my kids.

There is much more at play here than simple entitlement and irresponsibility on the kid’s part. I think we need to see that.
I agree with you. It’s a complex issue. No easy answers. Ultimately however the onus falls on the individual taking out the loan or over extending themselves.


Then parents should teach their kids about student loans and not encourage their children to take them out in order to fund their college educations. If their kids (and parents) can’t afford college out of pocket then they should go to community college and work to save for university. That is how people can be accountable for their actions.
Exactly.
 

Tekate

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Red you think we should fund the armed services right? In order for our country to continue to fund our first responders we need an educated workforce.. teachers on the front line, why do so many teacher's burn out? we need a fair and responsible way to assist these people underwater because we have bailed out underwater businesses and banks. I totally believe in personal responsibility but what happened in the recession was unique and sad. Maybe a sliding scale, forgiveness for teaching, didn't the republicans ensure that the debt will follow even if one declares bankruptcy? It's not as though these people can escape. We don't want to be Japan



@nala I am finding it hard to believe that you don't think persons who take out loans for college should not be responsible for paying them back? The taxpayers should not be on the hook to the tune of billions for people's mistakes they chose to make. Compassion is for the ones who have no choice in their circumstance.
 

msop04

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Well I agree it isn't a necessity but it's sold that way.. All I ever heard during high school in the 60s was you must go to college if you want to get ahead in America, when I was a kid there were jobs that really didn't care if you had a degree in English or Social Studies. Just get that degree.

The young people who too out loans especially during the Great Recession were sold this bill of crap too. I would love to forgive loans for young and old people who believed this and thought they would advance in life.

It's a communities responsibility to support the community. Our young people are not buying homes, having kids, advancing, I bought my first home with my ex-idiot when we were 25, FHA loan, borrowed 100% plus closing fees.. interest was 8.75%. Savings rates were about the same. Today the interest on federal backed loans is 4.53% to 13.22% https://www.nerdwallet.com/blog/loans/student-loans/student-loan-interest-rates/

Today interest on a savings account is 1.6% to 1.9%. I see young people falling behind.


A bit of a dichotomy I'd say.

CD's aren't much better https://www.bankrate.com/banking/cds/cd-rates/

So the only reasonable way out of the whole some of gotten into is better salary, upwardly mobile. Like I was back in the 70s, 80, 90, 00s, 10s. Till '13 when I was freed from work. BUT we have wage stagnation and while the interest rate on these college loans hasn't gone done, the interest is higher and savings rates and CD rates, we have had wage stagnation. Things have incrementally become better in the last 2 years, but not enough to make a real dent in a young person's ability to advance, buy a home, have a child, be productive, it's depressing actually.

I do not want to see out of control inflation but I do think we owe young people, and people with untenable college loans some assistance. A support rather and the tripe "I did it you can too" maybe not maybe we couldn't do it today.

the jobs of the future don't look all that high paying to me. Don't see doctor, lawyer or president of company on there.


A reasonable plan to assist those people who will never be able to see their debt paid off is a fair and reasonable plan and one I support wholeheartedly.

The times's they are a changin'.
I don't think kids are being given enough credit - they aren't stupid. Just because "they" are selling it, doesn't mean we have to buy it. We have information at our fingertips, and have for 20+ years, so I don't buy that. (see what I did there?) ;-)

You said that "...our young people are not buying homes, having kids, advancing..." Why do you think that's so?? Even though it's harder for them than it was for our us or our parents doesn't mean that kids shouldn't be taught responsibility and be exposed to real life situations before they're thrust out into it.

When everyone gets a trophy and must retreat to a safe place when they're uncomfortable doesn't allow for growth and maturing. The real world doesn't care if you thought you'd just bust out of college and make a ton of money. That's on you to do your due dilligence and make informed decisions about your career path. Don't get along with your coworker?? Learn to. Becoming a functioning adult is being made much more difficult by all the coddling. Let kids make mistakes... let them experience feelings and learn to deal with them... let them lose when they lose. Why would anyone strive for better when everything has always been "fixed" for them by all the adults their entire lives?? There's little or no incentive for them when we don't allow them to mature psychologically. The real world doesn't play that way. They need to be better prepared to handle it.

Anyone can research what certain professions pay, how much it would cost to obtain the education necessary to get a job in that field, if the salaries will allow for repayment of debt while leading a lifestyle that is comfortable enough for them, and the difficulty of obtaining that position in different areas.

Just because someone dreams of being an organic candle maker doesn't mean that line of work will pay for them to lead the lifestyle they desire and pay the bills. Hell, I'd rather do a lot of things other than be a pharmacist, but I also like to buy luxury items and go to nice dinners often... and those jobs wouldn't really allow me to do those type things [financially] responsibly. Don't get me wrong, I don't dislike my job - I enjoy being able to help people and it's interesting to me. But the main reason I chose this field is because I knew it would give me financial independence and allow me to have a lifestyle that's comfortable for me.
But here's the catch... getting through school was certainly not cheap or easy. I have a ton of student debt, but my salary allows me to pay it easily. I could've majored in something that I really liked more, but then I'd suffer in the long run. It's all about the priorities you set and the choices you make for yourself.

My nephew is in college right now. He started off at a small, private liberal arts college, but soon realized how much he'd end up paying back, so he made the very responsible decision to transfer to a community college for a few years to save money.

Also, no one should put a lot of money in a savings account when there are other ways of saving that pay much more interest... CDs are a thing of the past for the exact same reason.
 
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