I have an issue with it, and it is a huge issue. I should explain it better.
The highest paid public employees in almost every state in the Union are men’s football and basketball coaches at state universities. These schools also have enormous budgets for athletics and administrations. And yet, the consumers (students) are getting saddled with more debt for less valuable degrees.
Forgiving the loans does NOTHING to fix the problems. It only appeases some people for votes. Politics at its worst. The problem is clear - because school loans are unforgivable in bankruptcy the schools and banks will lend more money for crappy degrees because ALL the risk and burden is on the borrower. They are always senior to every other creditor. Even the IRS will negotiate credit, but not school loans.
The system is being mismanaged to benefit the banks, administrators, athletic departments and endowments while crushing the students and giving out useless degrees.
Fair enough, and thanks for expanding.
For me I'd say politics at its worst would be continuing to do nothing. We obviously agree about some of the larger problems but I don't see this as upholding the current setup as good or right, I see it instead as a first step along the path of solving the problem. One bite at a time, and all that. I'd also say the folks who were previously drowning in that bad debt might view this as doing a little bit more than appealing to them for votes. For a bunch of them this will likely be life changing improvement in their financial situation, maybe I've still got too much optimism in me though.
Your bankruptcy idea is interesting but I suspect that may create more problems than it solves. You might be right that it may encourage better lending habits but if 2008 taught me anything it is that banks have to be told the right thing to do, when left to their own devices they will do whatever it takes to make the most money possible. I can easily imagining that by allowing for bankruptcy on student debt you'll just create scenarios where only the wealthiest have access to education, a problem for individuals and society at large.
We agree that the status quo is broken or failing or both. A step is likely better than no step. I am salty and jaded, but can also see your point.
Bankruptcy forgiveness is not without issues, but the current situation is financial imprisonment and can't go on.
I think it is fair to be salty and jaded, particularly around this topic. I feel like it is one that folks on both sides of the aisle have admitted was an issue for as long as I've been paying attention but we can't seem to get any traction.
Perhaps I'm just falling for the propaganda but reading it shifted my perspective a bit and is why I think this may be the beginning of a fix, as opposed to a one and done kind of thing. A major point is that the debt forgiveness is only a piece of the puzzle. Expansions to Pell Grants, improvements in the PSLF, and efforts from the Department of Education to curtail rising tuition costs are all positive steps. Obviously this admin is limited in what action they can get away with (heck we don't even know how many legal challenges they'll face with this) but I see many positives here.
He/Him
"A master in the art of living draws no sharp distinction between his work and his play, his labour and his leisure, his mind and his body, his education and his recreation." -L.P. Jacks
I think it is fair to be salty and jaded, particularly around this topic. I feel like it is one that folks on both sides of the aisle have admitted was an issue for as long as I've been paying attention but we can't seem to get any traction.
Perhaps I'm just falling for the propaganda but reading it shifted my perspective a bit and is why I think this may be the beginning of a fix, as opposed to a one and done kind of thing. A major point is that the debt forgiveness is only a piece of the puzzle. Expansions to Pell Grants, improvements in the PSLF, and efforts from the Department of Education to curtail rising tuition costs are all positive steps. Obviously this admin is limited in what action they can get away with (heck we don't even know how many legal challenges they'll face with this) but I see many positives here.
I applaud the optimism. I applaud the reference to the original information. Good catch and good move. Particularly good in light of my snark OP.
The partisan nature of this economy, justice department , and outright vote buying is so bad I'm considering registering as a Democrat just to avoid a tax audit.
And when the Confederates saw Jackson standing fearless like a stonewall, the army of Northern Virginia took courage and drove the federal army off their land.
The partisan nature of this economy, justice department , and outright vote buying is so bad I'm considering registering as a Democrat just to avoid a tax audit.
The justice dept hasn't been political since Barr left. The economy is partisan? Yeah, booming job growth does tend to correspond with Democrat administrations. Vote buying? You mean the way Trump gave out billions and insisted his name be on those checks months before the election? Are you equally upset about all those business loans that were forgiven during Trump? No, of course not. [Personal attack deleted, FR 2 — RI]
"I am not an American ... In my view premarital sex should be illegal ...(there are) mentally challenged people with special needs like myself- Ajax18
The partisan nature of this economy, justice department , and outright vote buying is so bad I'm considering registering as a Democrat just to avoid a tax audit.
Yeah the vote buying is pretty wild. Wasn't too long ago that there was almost a trillion dollar handout, where a politician insisted that their signature be on every individual check.
One of the more toxic takes I'm seeing: Free college decimates our best recruitment tool for the military.
If the whole system of fodder for the war machine collapses without the GI bill it's probably time to go back to the drawing board. Just off the top of my head couldn't we roll that 10.7 billion spent on 700,000 folks back into their salaries and veteran benefits (numbers as of 2018, a quick google didn't give me more recent than that)? 15K a person seems like it could make a huge improvement in enlistment bonuses, housing assistance, medical care, etc.
Maybe I'm just a pinko-commie but I think it is a problem if one of your best hopes in drastic improvements in your potential income and breaking the cycle of poverty is having to literally gamble with your life and deal with the long term consequences that service can bring with it. (in case it isn't clear, this is an indictment of an exploitative system and not those that serve)
He/Him
"A master in the art of living draws no sharp distinction between his work and his play, his labour and his leisure, his mind and his body, his education and his recreation." -L.P. Jacks
Maybe I'm just a pinko-commie but I think it is a problem if one of your best hopes in drastic improvements in your potential income and breaking the cycle of poverty is having to literally gamble with your life and deal with the long term consequences that service can bring with it. (in case it isn't clear, this is an indictment of an exploitative system and not those that serve)
So what do you suggest, just bring back the draft? If a nation wants to have private property, you have to be able to defend it militarily. That's the way this world works.
The best part about this is waiting four years to see how all the crazy apocalyptic predictions made by the fear mongering idiots in Right Wing media turned out to be painfully wrong...Gasoline would hit $10/gallon. Hyperinflation would ensue.
Veritas
Maybe I'm just a pinko-commie but I think it is a problem if one of your best hopes in drastic improvements in your potential income and breaking the cycle of poverty is having to literally gamble with your life and deal with the long term consequences that service can bring with it. (in case it isn't clear, this is an indictment of an exploitative system and not those that serve)
So what do you suggest, just bring back the draft? If a nation wants to have private property, you have to be able to defend it militarily. That's the way this world works.
Had you read my post you would have noticed one quick suggestion just right off the top of my head about getting around the need for the GI bill. Do you earnestly believe that we will be entirely unable to recruit folks if we have to get more creative than "this is the only way you're getting into college"? Personally I think there are still a fair number of folks that want to join the military for a thousand different reasons and I think we can find even more reasons to encourage that behavior. I know it isn't as good a plan as using the military to rob other nations of their resources in order to self-fund but I think it is a start.
He/Him
"A master in the art of living draws no sharp distinction between his work and his play, his labour and his leisure, his mind and his body, his education and his recreation." -L.P. Jacks
The partisan nature of this economy, justice department , and outright vote buying is so bad I'm considering registering as a Democrat just to avoid a tax audit.
Yeah the vote buying is pretty wild. Wasn't too long ago that there was almost a trillion dollar handout, where a politician insisted that their signature be on every individual check.
Hang on, that was almost a trillion or in excess of a trillion?
Vote buying is pretty wild indeed. Both sides do it. And, the cost of a marginal vote is HU$E! since most people are not going to change their loyalties based on a political shenanigan.
