Bernie wants to cancel all of student loan debt (1.6T).

[zinfamous]

Let's use Venezuala as our role model! We will all be equal!!

lol at this guy thinking Venezuela has anything to do with anything. This is the kinda dumb thing that conservatives said back in the 30s, 40s, 50s, 60s, 70s, and on and on and on re: USSR, Korea, Vietnam, China, and it is still overwhelmingly stupid today.

because, god forbid we actually adopt the systems that have been universally successful and prosperous in countries that are not run by dictators, but you know...such a comparison doesn't support the need for derp.

 

[brycejones]

Let's use Venezuala as our role model! We will all be equal!!

Is that what you really think Bernie is calling for?

 

[Challenger]

Socialism and wealth redistribution can only work in a closed society where all that are able, do contribute. In a country where so many in our country feel the government "owes" them how can it work and not deteriorate into anything less than Venezuala? You talk of modern "proven" Western European social programs, my sister in-law was born and raised in Germany and when I talk with her parents they definitely convey that now that all of the "immigrants " are being allowed in without contributing and just taking things are not working anymore.

 

[fskimospy]

Socialism and wealth redistribution can only work in a closed society where all that are able, do contribute. In a country where so many in our country fele the government "owes" them how can it work and not deteriorate into anything less than Venezuala? You talk of modern "proven" Western European social programs, my sister in-law was born and raised in Germany and when I talk with her parents they definitely convey that now that all of the "immigrants " are being allowed in without contributing and just taking things are not working anymore.

You would think the fact that there are dozens of well functioning social democracies in existence today that have been that way for a very long time and not deteriorated into Venezuela would indicate that you're wrong about that but apparently not.

A fundamentally capitalist system with a strong social welfare state and significant income redistribution is the proven model used around the world to get good results. It's just common sense.

 

[UglyCasanova]

Where do you think they got the money to make the loans?

Deposits? Or if they have a warehouse line then sell to a secondary market? They don’t use government money to loan though, the government just guarantees the loan since it’s unsecured.

 

[ivwshane]

Sounds like a political move to gain positive media attention and to force other Democrats to be for or against helping burdened students.

Like most of Bernie's plans though, the numbers don't add up.

 

[ecogen]

Socialism and wealth redistribution can only work in a closed society where all that are able, do contribute. In a country where so many in our country feel the government "owes" them how can it work and not deteriorate into anything less than Venezuala? You talk of modern "proven" Western European social programs, my sister in-law was born and raised in Germany and when I talk with her parents they definitely convey that now that all of the "immigrants " are being allowed in without contributing and just taking things are not working anymore.

You should change your username to Challenged.

 

[brycejones]

You would think the fact that there are dozens of well functioning social democracies in existence today that have been that way for a very long time and not deteriorated into Venezuela would indicate that you're wrong about that but apparently not.

A fundamentally capitalist system with a strong social welfare state and significant income redistribution is the proven model used around the world to get good results. It's just common sense.

'His sister in-law's parents say otherwise. Seems legit.

 

[soulcougher73]

If only we had lots of other countries that have free college to look at for what they have done and seems to work for them. Oh well. I guess none of those exist.

*sticks head back in sand*

 

[Luna1968]

so do the people who payed off their voluntary debt get a refund?
Can you cancel home loan debt too? It’s not like that was an unexpected expense, they SIGNED UP for that debt.... how do you just cancel it you knew what it would cost you, you agreed to it anyways- that is now your obligation to pay. But let’s just have everything handed to us and put your debt onto others now.

 

[BoomerD]

That's a strategy that might get him votes from the silly millennials who went $100K into debt to get a worthless/liberal arts degree that qualifies them to be a Starbucks barista...but, IMO, if you take out a loan for ANYTHING, it's on you to pay it back.
Sure, SOME of the fault lies with the lenders who give out money like Halloween candy because they know student debt can't "magically" go away through bankruptcy...but then again, it shouldn't.

 

[UNCjigga]

What do folks like me who’ve paid off some or all of their loans get...a cookie? Pat on the back? A “thanks for paying...err...playing, chump!”

I’m pretty progressive, and I would like some sort of debt relief package for students...but “cancelling the [federally-held portion of the] debt” just seems dumb. Also, how would this address the root issue of higher education costs spiraling out of control?

 

[fskimospy]

What do folks like me who’ve paid off some or all of their loans get...a cookie? Pat on the back? A “thanks for paying...err...playing, chump!”

I’m pretty progressive, and I would like some sort of debt relief package for students...but “cancelling the [federally-held portion of the] debt” just seems dumb. Also, how would this address the root issue of higher education costs spiraling out of control?

It's attached to a larger plan to make state school tuition free. Overall this seems like a decent plan as in my opinion we should restore funding to universities and abolish student loans entirely.

Regardless there seem to be plenty of better ways to spend $1.6 trillion, especially considering the fact that most of that debt is held by higher earning people.

 

[UNCjigga]

It's attached to a larger plan to make state school tuition free. Overall this seems like a decent plan as in my opinion we should restore funding to universities and abolish student loans entirely.

Regardless there seem to be plenty of better ways to spend $1.6 trillion, especially considering the fact that most of that debt is held by higher earning people.

Perhaps we start smaller then—I.e some sort of debt forgiveness package for college educated working jobs in military (already done?), local/state/fed government, teachers, social workers, police/fire, etc. People who are giving back in other ways to the public good get first crack.

 

[soulcougher73]

so do the people who payed off their voluntary debt get a refund?
Can you cancel home loan debt too? It’s not like that was an unexpected expense, they SIGNED UP for that debt.... how do you just cancel it you knew what it would cost you, you agreed to it anyways- that is now your obligation to pay. But let’s just have everything handed to us and put your debt onto others now.

Nope. It's called building a better tomorrow. Or we can just continue with the same ole same ole crap we've had. Suck it up buttercup.

 

[sactoking]

There are certainly worse ways to spend a trillion dollars, like tax cuts for "job creators."

 

[brandonbull]

So the average investor can hope to see an additional $1.6T in fees and other costs for investments?

 

[dainthomas]

I'm not a fan of his idea. It ultimately doesn't do anything to control the ever rising costs of a college education or fix people's poor financial judgement. If anything costs will increase when colleges see that the government will step up and pay the costs.

I'd rather see financial help in the form of actual need. Eligibility should be based on the students academic rating, the family's financial need, and the likelihood of placement in the chosen profession. Got a smart kid from a poor family that wants to be an electrical engineer? He/she should be able to pursue that. Got an average kid that doesn't know what they want to study and would rather party? Walmart is hiring.

I view the 2 year technical degrees as being vitally important as jobs require more technical knowledge in the future. I'd support making these degrees achievable by simply letting the student continue after high school right into these fields without cost to them if they meet the same requirements.

Other European countries offer a better model for college than what we have here, but the kids are expected to buckle down and git er done.

Combine it with eliminating the bankruptcy exemption. You'll see education costs plummet overnight as schools compete for students without access to bottomless piles of cash.

 

[fskimospy]

So the average investor can hope to see an additional $1.6T in fees and other costs for investments?

The average investor would probably see very little in increased costs as more than half of all financial transactions are done by high frequency trading algorithms that have nothing to do with whatever portfolio you have. The richest 10% of Americans also own about 85% of all stocks.

 

[Jaskalas]

https://www.washingtonpost.com/busi...ory.html?noredirect=on&utm_term=.c38e6b6ab965

Bernie wants to eliminate all college loan debt, while in the process making college and trade school tuition free. IMO, it sounds great in theory but it always comes back to the same question. Whose going to pay for this? Thoughts?

As a nation, the ability to pay that sum is not an issue. We are more than capable.
But should we? Will our people support such a tax towards this goal?

Ultimately I think this whole focus on college is putting the cart before the horse.
People will not support being taxed without a direct ROI. Without understanding how they benefit.

We need water, food, and shelter. Democrats need to get back to the basics. With Basic Income.
We have to prove that these investments, that this "socialism" works. To de-fang and defeat Republicans.

Plus, we need to tackle the costs of education. Revolutionize and bypass these 9+ figure institutions.
We can pay for education, but we need to approach it carefully and with determination to not have it cost as much as it does today.

I support the idea, I think it needs a slightly different approach, but mostly I think we need to do other, bolder, and more immediate things first.

 

[TheVrolok]

Perhaps we start smaller then—I.e some sort of debt forgiveness package for college educated working jobs in military (already done?), local/state/fed government, teachers, social workers, police/fire, etc. People who are giving back in other ways to the public good get first crack.

"Public Service Loan Forgiveness" already exists. If it somehow vanishes without those of us already enrolled it will be a grim grim grim change for my financial future.

 

[ImpulsE69]

so do the people who payed off their voluntary debt get a refund?
Can you cancel home loan debt too? It’s not like that was an unexpected expense, they SIGNED UP for that debt.... how do you just cancel it you knew what it would cost you, you agreed to it anyways- that is now your obligation to pay. But let’s just have everything handed to us and put your debt onto others now.

This is my problem with it. It's like people who break laws knowingly but do it anyway because they want to, then complain about the law. I simply think that sure, help those that need help, but don't just give handouts to people who apparently can't figure out how money works int he first place, then reward them and they continue to do the same thing because someone will bail them out....

 

[ImpulsE69]

As a nation, the ability to pay that sum is not an issue. We are more than capable.
But should we? Will our people support such a tax towards this goal?

Ultimately I think this whole focus on college is putting the cart before the horse.
People will not support being taxed without a direct ROI. Without understanding how they benefit.

We need water, food, and shelter. Democrats need to get back to the basics. With Basic Income.
We have to prove that these investments, that this "socialism" works. To de-fang and defeat Republicans.

Plus, we need to tackle the costs of education. Revolutionize and bypass these 9+ figure institutions.
We can pay for education, but we need to approach it carefully and with determination to not have it cost as much as it does today.

I support the idea, I think it needs a slightly different approach, but mostly I think we need to do other, bolder, and more immediate things first.

We need to start with better education BEFORE college.

 

[fskimospy]

Personally I don't see why we need to cancel student debt at all. Why not just give ~$15,000 to every household in the US instead and they can spend it on whatever they want?

 

[ImpulsE69]

Personally I don't see why we need to cancel student debt at all. Why not just give ~$15,000 to every household in the US instead and they can spend it on whatever they want?

because we know most of it will go towards weed and beer and strippers, oh and iphones..