Student Loan forgivness BS!

[barbara]

Donquixote99, already only the rich can afford a degree.

[donquixote99]

But many others take out big loans to get degrees they cannot afford, because they can, and feel they have to. But I was commenting on the effect of proposed changes that would end funding for 'hearts and flowers' degrees.

[Oerets]

Feel for the small business owner or Plumber type of tradesman buying equipment who went in debt to getting started.

Where is their relief?

[RickeyM]

But many others take out big loans to get degrees they cannot afford, because they can, and feel they have to. But I was commenting on the effect of proposed changes that would end funding for 'hearts and flowers' degrees.

Boiled down would that be simply looked at as what's the return on the investment. Invest in only that which would give you a return. I.E. do you really want to go into debt for a degree that won't get you a job?

[RickeyM]

Originally Posted by Oerets

Feel for the small business owner or Plumber type of tradesman buying equipment who went in debt to getting started.

Where is their relief?

The profits or earnings from their work?

[Oerets]

Originally Posted by RickeyM

The profits or earnings from their work?

Very true. Still can see the argument though. If you pick a field of study, go in debt willingly. How is it the rest of our fault you pick one with low pay?


A blanket forgiveness of loans I still feel was a bad move.

[Rajoo]

Originally Posted by Oerets

Very true. Still can see the argument though. If you pick a field of study, go in debt willingly. How is it the rest of our fault you pick one with low pay?


A blanket forgiveness of loans I still feel was a bad move.

I propose that student college loans be structured like mortgages where the terms are longer, can be prepaid and the loan should take into account the earning power of someone who gets a degree in a specific field.

It is quite conceivable that ones earnings can be predicted upon completion of a college degree. Here is where the true problem may lie, not every student is college material, I am guessing in the 20% range in professional fields.

So dropouts will have loans but nothing to show for it.

Unfortunately, college tuition loans are geared for banks to make money with little or no risk, not to promote college education. Med students often rake up few hundred thousand of debt before they are licensed to practise.

[RickeyM]

Originally Posted by Rajoo

Unfortunately, college tuition loans are geared for banks to make money with little or no risk, not to promote college education.

IMO that is the crux of the problem. Once the moneychangers figured they could game the system greed took over.
IMO the goal of student loans should be to promote a college education not to make obscene profits. The moneylenders already have enough ways to make buckets of money.

[donquixote99]

Originally Posted by Oerets

Feel for the small business owner or Plumber type of tradesman buying equipment who went in debt to getting started.

Where is their relief?

At least they can go bankrupt if necessary and shed that type of debt. The no-qualification no-bankruptcy features of student loans seem designed to rope the largest possible number into life-long compound interest.

[Dondilion]

Originally Posted by init4fun

Meh, , we give out enough $$$ to the rest of the world, spending a few $ here at home don't raise any eyebrows here.......

A significant portion of what is given out returns.