Student Loans

[TLSnell1981]

But wait, I thought doctors could EASILY pay off their student loan debt. Isn't that what @mrodgers said?

Still depends on the college they choose to attend.

 

[Moliphino]

Agreed. MIT hired crossing guards as too many of their students were getting hit by cars crossing the street.

There are different types of intelligence.

That probably says something about the drivers in Cambridge, too.

 

[Robbie Cottam]

I am absolutely 100% saying this, other countries do it all the time and our country is one of the wealthiest in the world yet we fail to invest in our own and I want to know why, I also want it to change. The US throws money, billions and billions all over the world, we can afford to make sure our own education system is among the finest in the world, and completely free.

Cuba does it…. Free education..
goto Havana. Your taxi driver will be a Dr. Or Lawyer….

They have the education because it was free with no real value. It gave the, something to do until they figured out what to do with their life….

you need to earn things in this world for them to have value… to have meaning, if you just hand out degrees you might as well call the, Peez

 

[TLSnell1981]

Cuba does it…. Free education..
goto Havana. Your taxi driver will be a Dr. Or Lawyer….

They have the education because it was free with no real value. It gave the, something to do until they figured out what to do with their life….

you need to earn things in this world for them to have value… to have meaning, if you just hand out degrees you might as well call the, Peez

Our driver in Puerto Rica had a double bachelor’s degree. He said everybody does…nobody can get a good paying job.

 

[Robbie Cottam]

So why spend the money to become an MD or a JD…… because it is free….” Might as well don’t cost nothing “….

Is that what you want to happen here?
Free education, everyone would have an MD, JD, PhD,

But no one would have a job!

Who picks up the tab for that mess?

 

[LuvOrlando]

Ok, we are just going to have to disagree on this. Strongly.

This country’s money tree is sagging already after everything that has been spent in the wake of covid.

We can’t even make K-12 the finest in the world, despite being among some of the highest funding countries.

The US packages our debt like a product, long gone are the days of paying it off being a goal for the powers that be, the interest earned on debt is the thing wanted, I may not love the game on the table or how the game works but I'll learn it anyway & want a say at what the money is being spent on because it's going out the door as debt whether any of us like it or not. Of course, words like "fiscal responsibility" come out of mouths in front of microphones because that's a regular people notion, it is an us notion so they come down from their towers to throw us soundbites because they need us to play along, but truth is that payback is not a them who spend ours sort of notion. Most of us are just pieces on the board and we seem to think we are all playing the same old Atari version 1 of the game, meanwhile it seems to me the whole world standing above us has been steadily changing the games without us noticing it and are now onto version 100, we all need to be playing the same game. Mostly we are all just stuck in the weeds arguing over the little things while the biggest issue just glides by.

When it is said this financial situation is sizing up to be picked off like the home loans from 2008 it's mostly about how the banks got paid double in the bailout bonus round because in the Mystical Magic Bonus Round the TAXPAYER payments skipped right over the TAXPAYERS and went directly into the hands of banks who STILL got to hold that leash on the loans borrowers with bonus fines, fees and equity on foreclosures because the TAXPAYERS didn't get the money themselves to send in the checks. What happened was an abomination and the same is precisely what nearly happened in 2020, and was avoided with the money was instead sent to people in 2020 up until very recently, we now need a new set of bandaids, it can be the same or a new style but there must be something. Sure a solid solution would be nice but maybe we don't get that, no matter we really do need some sort of bridge until things can be better sorted out otherwise a lot of families are going to be devastated.

These are real people and the losses will go much further than just the individuals, as we all witnessed after 2008. For me I am much bothered it was the working class and poor who were mostly wrecked in 2008 as they tried desperately to join in on the dream, this is now their kids trying to rebuild, how can we let this happen to them again? It's not up to me but I am paying very close attention.

 

[sam_gordon]

How about you read and quote the rest of my post and you will find your answer. Instead of cherry picking…. If you had read the whole post then you would have egg on your face….

Oh, the "you don't need a college degree to make six figures". Yup. That's why everyone is staying away from higher ed, because six figure jobs are plentiful for HS grads.

 

[Robbie Cottam]

Oh, the "you don't need a college degree to make six figures". Yup. That's why everyone is staying away from higher ed, because six figure jobs are plentiful for HS grads.

So I guess you have never hear of union welders, boiler makers, electrician, plumbers.

Hell my sprinkler guy makes more than that in 8 months….

Oh yea this small airline you may not have heard called DELTA. STARTED HIRING pilot with a HS degree….

It my understanding the others if they haven’t already will need to follow suit soon.

Oh yea delta flight attendants make 58 bucks and hours after 10 years, so there is that…. The actually number of hours they get paid for varies based on how much they want to work, so yea …

It can be done.

 

[sam_gordon]

So I guess you have never hear of union welders, boiler makers, electrician, plumbers.

Hell my sprinkler guy makes more than that in 8 months….

Oh yea this small airline you may not have heard called DELTA. STARTED HIRING pilot with a HS degree….

It my understanding the others if they haven’t already will need to follow suit soon.

Oh yea delta flight attendants make 58 bucks and hours after 10 years, so there is that…. The actually number of hours they get paid for varies based on how much they want to work, so yea …

It can be done.

Since you're so big on reading comprehension, can you show me where I've said it couldn't be done?

Do you know why these people are making so much money? Because there's not a lot of them. Supply & demand works for employees as well as product.

As far as your examples, you do understand how much training a person needs to go through before they can serve as a commercial pilot, right? And you know that training costs money? And Delta isn't fronting that money? And that training is expensive? And takes time?

And sure, FA's make a lot of money per hour on paper. BUT, the clock only starts when the door closes and stop when the door the opens. All the time the plane is at the gate? You know, when they're cleaning, stocking, helping people board, etc, yup, all of that's unpaid. Then let's factor in the time away from family. That's why they have to make the pay attractive.

 

[mjkacmom]

So why spend the money to become an MD or a JD…… because it is free….” Might as well don’t cost nothing “….

Is that what you want to happen here?
Free education, everyone would have an MD, JD, PhD,

But no one would have a job!

Who picks up the tab for that mess?

Do you have a college degree?

 

[BroadwayHermione5]

Someone earlier in this thread mentioned something about $10,000 off federal loans-i will gladly take that. It won't help a lot for me and others I know but it will help.


I did use most of the money I saved (and sadly obtained as I was unemployed for a chunk of the pandemic) plus the stimulus to paying off as much as I could. I still have a lot left to do but I would be much worse off if the pandemic hadn't happened in terms of my loans. i had no where to go and nothing to do so I took that to my loans.


Forgiving a little chunk (although for many I realize 10 grand is not a little chunk) I think would be best in the end for everyone. It is not an ideal situation, but I do think it will help.

 

[mom2rtk]

Forgiving a little chunk (although for many I realize 10 grand is not a little chunk) I think would be best in the end for everyone. It is not an ideal situation, but I do think it will help.

Except for the people who already paid for their own and now have to pay for someone else.

 

[Moliphino]

Except for the people who already paid for their own and now have to pay for someone else.

It'll be pennies of your taxes, who even cares? It's not like everyone else has to pony up $10k to give to people with student loans.

 

[NotUrsula]

Except for the people who already paid for their own and now have to pay for someone else.

Yes, but how much would you, personally, realistically have to pay? It's not like they are going to scratch out the name on the envelope and assign the debt to another individual.

My guess is that the $10K plan represents somewhere south of $200 for the avg US household. As a taxpayer, is the greater good that accrues to society as a whole a good trade for my $200?
The avg borrower with a $10K loan pays well more than that every month, so my "gift" would take a monkey off a whole lot of backs; backs that were just like mine was 30 years ago. When I think of the relief that it would have represented to my daily life back then to have my expenses permanently reduced by that percentage, and the comforts I could have purchased for it (like fresh food instead of canned all the time, or a reliable used car instead of the bus that always ran late and got me into trouble at work) yes, I would be OK with giving it.

 

[sam_gordon]

Except for the people who already paid for their own and now have to pay for someone else.

But where's the outrage for all the other things "you" have to pay for someone else?

Mortgage Interest Deduction?
Child Care Deduction?
Child Tax Credit?

 

[kdonnel]

I think the feds should just give everyone that attended college in the last 30 years a check for $10,000 and give everyone who did not attend college in the last 30 years a check for $10,000.

If it was given to just those 18 and up that would be 2.5-3 trillion.

 

[mom2rtk]

It'll be pennies of your taxes, who even cares? It's not like everyone else has to pony up $10k to give to people with student loans.

So maybe the taxpayers should pay $10K toward everyone's car loans. It's only a few pennies. Maybe some CC debt. Maybe home loans too. What's a few more pennies?

 

[NotUrsula]

So maybe the taxpayers should pay $10K toward everyone's car loans. It's only a few pennies. Maybe some CC debt. Maybe home loans too. What's a few more pennies?

Because *I* (and *you*) gain directly in the long term if a larger share of younger people coming up behind us pay taxes on higher income over their lifetimes and depend less on ongoing public services for the indigent. These particular pennies are an investment in my own future and that of my own children.

 

[Moliphino]

So maybe the taxpayers should pay $10K toward everyone's car loans. It's only a few pennies. Maybe some CC debt. Maybe home loans too. What's a few more pennies?

Those can be discharged in bankruptcy.

 

[mom2rtk]

Because *I* (and *you*) gain directly in the long term if a larger share of younger people coming up behind us pay taxes on higher income over their lifetimes and depend less on ongoing public services for the indigent. These particular pennies are an investment in my own future and that of my own children.

So what is the limiting principle here? If some is good, then a lot would be better, right? Let's just pay it all off.

And then just sit back and watch how fast the price of college skyrockets.