In Biden's case, I don't think buying votes is really the intent. I think he sees that although the college educated are overall better off than those without degrees, many people struggle to repay those loans, especially those who could not achieve the income they expected. Biden is trying to benefit a wide swath of people between the stimulus bill, the infrastructure bill, and these kinds of targeted measures.
For the record, I support loan forgiveness at the $10K level only, as a one off. I definitely wouldn't go as high as $50K.
I have no idea what this inane babbling has to do with my point or how you got to these bizarre conclusions but thank you for validating my decision to generally not respond to the stupid shit you write.
I think he sees that although the college educated are overall better off than those without degrees, many people struggle to repay those loans, especially those who could not achieve the income they expected. Biden is trying to benefit a wide swath of people between the stimulus bill, the infrastructure bill, and these kinds of targeted measures.
The idea that the vast majority of Americans could get loans under those conditions is a fantasy.For the record - I support all loans being vanquished under bankruptcy just like any other normal debt.
The difference - obviously - is that it should be a loan just like any other normal debt as well where you are properly evaluated if you have a decent chance of if the loan can be paid back - such as evaluations on:
1) Whats your major? Does it stand a good chance of solid employment with in-demand jobs?
2) Did you go to community college or get dual credits in high school?
3) Is anyone willing to co-sign? If so, what is their financial stability?
Plenty of other rational questions to ask as well - not how it currently is where it's based on "How broke are your parents? Broke as shit? OH OKAY, YOU'RE APPROVED! GO GET 'EM TIGER! The problem would easily correct itself with simple things like this.
But... y'know... that would require actually fixing the solution instead of putting a bandaid on a HUGE GAPING HOLE of a problem that needs 50 stiches. That would require actual leadership that makes bold changes. Not fucking idiots trying to buy votes.
The idea that the vast majority of Americans could get loans under those conditions is a fantasy.
I’m sure banks are super excited to extend tens or hundreds of thousands of dollars to an 18 year old conditional on them totally pursuing that great major for four years, landing a good job, and then somehow, bafflingly, deciding that it’s best to just pay them back as opposed to discharging them.
So good news, as long as all banks are morons we have solved the student debt crisis.
Do you think it should be done even without reforms that would prevent a similar situation from happening again?
I think the student loan system is unsustainable or exploitative. I think we should publicly find universities. This will lead to less access, but also to less ruin.Which type of reforms do you propose?
I think the student loan system is unsustainable or exploitative. I think we should publicly find universities. This will lead to less access, but also to less ruin.
We have had this discussion before and as before your position displays a near total ignorance of the issue. What would really happen under the conditions you propose would be that only the children of wealthy people could go to college, not the most meritorious students.Precisely my young dummy complete idiot on the basics of economics padawan.
Demand for universities would plummet. Because we would finally realize the general phrase like "Sorry, you aren't meant to go to college - consider seeking a trade-skill" would be something we would actually tell people instead of bullshit fantasy about hopes and dreams - as they rack up $50k in unsolvable debt while working as a Starbucks Barista for life.
Less demand = prices plummet. Prices plummet = college actually becomes a reasonable price. Scary stuff, right?
It might actually, you know.. .start to reflect what occurs in European countries you guys love to idolize where they don't admit people who want joke degrees because their government isn't willing to subsidize basket weaving and other liberal arts degrees.
My sister and father on social security has yet to see any of the $1400. And what's strange, the last $600 went into both their bank accounts within 2 days. And BTW, they voted for Trump, not Biden. So they got Trump's last $600 extremely fast but not Biden's $1400 as of yet. Needless to say they are a but irritated. I told them, that's what happens when you voted for Trump and now Biden is handing out the money.