Why such a lack of compassion on student debt?

[abw0004 10,110]

A little bit unrelated, but I do think we need to cap tuition to public schools.  It is getting too expensive, even if you have the means.  I understand keeping up with inflation, but it is growing faster than inflation.  The models I am creating for clients wanting to know how much they need in their child's 529 is unreal.

[autigeremt 6,598]

On 5/12/2022 at 8:38 AM, abw0004 said:

A little bit unrelated, but I do think we need to cap tuition to public schools.  It is getting too expensive, even if you have the means.  I understand keeping up with inflation, but it is growing faster than inflation.  The models I am creating for clients wanting to know how much they need in their child's 529 is unreal.

The arms race for the guaranteed government loan backed student has driven up the cost of tuition as much as anything.

[TexasTiger 12,829]

Thoughts on this take?

 

[CoffeeTiger 5,099]

2 hours ago, TexasTiger said:

Thoughts on this take?

 

 

The River guy is correct in that some parts of twitter are toxic. I also agree there exist people in middle or upper-class families who took on vast amounts of student loans to get degrees/jobs that didn't pan out and are bitter about it. 

I'm not following the Wilfred Reilly guys take because, I could be wrong, but to my knowledge student loan forgiveness for graduate loans isn't really being talked about or pushed for as much as it is primarily undergraduate loan debt. 

Also the only solid proposal on the table right now is what? $10,000 in forgiveness for people making less than $150,000/year? 

I guess theoretically there could be some wealthy people out there who have no job or income that got federal loans that could end up benefiting from this, but I don't see that being a large or significant number of people and not a good reason to not give relief. 

 

As has been discussed though, the true solution comes in lowering the overall costs of upper education, not just in forgiving current loan debt. 

 

Edited May 31, 2022 by CoffeeTiger

[DKW 86 7,419]

4 hours ago, CoffeeTiger said:

 

The River guy is correct in that some parts of twitter are toxic. I also agree there exist people in middle or upper-class families who took on vast amounts of student loans to get degrees/jobs that didn't pan out and are bitter about it. 

I'm not following the Wilfred Reilly guys take because, I could be wrong, but to my knowledge student loan forgiveness for graduate loans isn't really being talked about or pushed for as much as it is primarily undergraduate loan debt. 

Also the only solid proposal on the table right now is what? $10,000 in forgiveness for people making less than $150,000/year? 

I guess theoretically there could be some wealthy people out there who have no job or income that got federal loans that could end up benefiting from this, but I don't see that being a large or significant number of people and not a good reason to not give relief. 

 

As has been discussed though, the true solution comes in lowering the overall costs of upper education, not just in forgiving current loan debt. 

 

I can take you to these people now and they will tell you that they fully expect loan forgiveness on their Graduate Degree Debt and soon. I do not say I agree. I am pointing them out. Last i talked with them they were convinced that Biden was going to raise the bars etc on the second or third pass of loan forgiveness. Knowing one of the guys, he may kill his mom to get the inheritance money. He wasted so much money going to UColorado and then a private school for the graduate degree and he is 100% convinced he will never pay the money back. He and his GF took out the last bit of money for a European Vacation. He sucks in his profession. Truly cant do a thing and he dwells in Udemy all day long trying to figure out IT.