student debt forgiveness

[scaredyclassic]

but if there’s an actual chance of it happening, I need to have my kids get some debt. what are the Vegas odds on this happening? I wonder if you can “pre-borrow” some money and get it forgiven?

[The-Shoveler]

Maybe they could just limit it to people with worthless degree’s that have no hope of ever paying off the loans.

That way we could encourage more people to get worthless degree’s that have no real market value.

[scaredyclassic]

what if we just took prior students debt and added it to new students debt; we could just double the price of school currently. that would make sense in terms of encouraging consumption, since the newer students are still in school and not consuming yet. we can deal with the problem of their double debt later.

[FlyerInHi]

[quote=scaredyclassic]but if there’s an actual chance of it happening, I need to have my kids get some debt. what are the Vegas odds on this happening? I wonder if you can “pre-borrow” some money and get it forgiven?[/quote]

I think that given enough time and debt accumulation, there is a high chance of something being done. But there will be a catch such as some kind of national service.

[scaredyclassic]

i dont think i can win this one.

if i got a loan for say 50k, the interest accrues on the 50k while in school at 7 percent. so im already in the hole for maybe 15k at graduation on the first 50k. so basically im spending 15k for a shot at a 50k free ride, minus whatever after tax return i get on the 50k lying around. so I need about 3-1 odds on it to break even.

I just cannot believe there’s a real chance this passes in any way that would actually benefit me.

id say odds are worse than 3 to 1 ill get debt forgiveness, more like 20-1, so looks like a pass.

if i could get the subsidized loan w zero interest then id do it.

I still have a very very small loan balance after taking out my first law school loan 27 years ago. my loans are so old I could’ve declared bankruptcy on them back in the old days…

we did pay off my wife’s balance with a big check 5 years ago or so. but who could’ve really predicted this?

its such obviously palpable bullshit, but then again, pretty much everything is bullshit nowadays. so, whatever.

id prefer ubi

[temeculaguy]

I’m down with subsidies/grants/discounts for majors that we need for our economy. Forgiving student loan debt for someone who borrowed six figures to get a degree in social justice or “insert here” cultural studies doesn’t make sense to me. STEM, nurses, doctors, okay I’m in, we need them and they are in short supply. But I run into people with 6 figure debt, from a private liberal arts college and they majored in women’s studies! I have a cousin whose debt is equivalent to the cost of a house and her degree merits her a job that pays $20 an hour. I have another relative who is a social worker with a MSW and a debt of 200k and makes 60k. We need her, but did she need to go to a 50k a year private school, her industry doesn’t care where her MSW is from. Where’s the ROI analysis by the lender, it’s like economic laws are ignored when it comes to college. I have another cousin in debt for 20k, went to a state school and now works for Tesla, now that’s an ROI I can get behind.I have two nephews with minimal debt from reputable UC and CS schools in engineering, I’d invest my money in them, they will make it back. Case in point, a berkely engineering degree and a Berkely community activism degree are not the same, thus should not be subsidized the same. I’ll ask Brian, what would China do?

I also have a cousin that has a PHD and didn’t pay a nickel or take on any debt because her parents were poor, her major has no economic value or public benefit, no job prospects other than becoming a professor and continuing the cycle, which she became.

College loans, grants, scholarships, etc. defy economic laws of supply and demand and that is the real problem. Throwing money at it is but a short term remedy. Evaluating earnings vs cost as a factor in loans would solve the problem. We apply it to people asking to borrow money for a business, but not for higher education, which is essentially the same thing.

[FlyerInHi]

Scaredy, the post has a good editorial.
Richer kids will benefit more. But I’m ok with whatever plan gets a Democrat into the White House.

https://www.washingtonpost.com/opinions/bernie-sanders-is-running-on-a-plan-to-bail-out-rich-kids/2019/06/25/0fd67d72-96bc-11e9-830a-21b9b36b64ad_story.html?noredirect=on

[Astrid Rey]

I already paid my student loans so I would not be happy about seeing others get a handout. If we are going to give away money to support education why not just give an equal amount to everyone with a college degree?

I’m not really serious about that but it would be more fair than giving money only to people that have loans.

[The-Shoveler]

LOL I like Andrew Yang’s free money Idea even better, everyone gets a 1K a month regardless.

I could drive a new car every year LOL.

FREE!!!!!

[gzz]

Glad I never paid off my student loans then! At 2.8% fixed until I am in my mid 50s, why bother?

When I graduated I figured in a 30 year period at least one period of high inflation would effectively wipe them out. Who would have thought we’d instead see prolonged 1.5% inflation but a 78 year old socialist do it instead.

I’m feelin’ the Bern! Bring back the SALT while you’re at it.

[gzz]

Astrid, if Bernie pays off my student loans I’ll take you out for a deluxe organic vegetarian dinner at People’s Co-op Garden Cafe. We’ll both be winners then! And I’m talking about apps, smoothies, entree, wine, and a desert. Socialism never tasted so good.

http://www.obgardencafe.coop/

(Seriously the food is really good and the airy building design and mix of indoor outdoor and rooftop seating is great. I am not even vegetarian. They have eggs and dairy so it isn’t just rabbit food.)

[scaredyclassic]

am i included?

are drinks free too?

[gzz]

No scaredy, you still have student loans. Offer only open to those who paid their student loans off early and don’t qualify for Bernie Bucks.

[scaredyclassic]

my payoff is preelection, actually in 3 months. not sure if i qualify…

[Coronita]

[quote=scaredyclassic]maybe im getting old and conservative but the dem. cries to just wipe the slate clean with no systemic change are so dumb i could vote republican[/quote]

I think it’s pretty much guaranteed Trump will win his second term.

Democrats are too busy trying make everyone a victim and trying to give our free money at the cost of others that work…. The economy won’t tank enough before 2020 to motivate people to pick someone else…

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