The Student loan debt is proof that high schools need to have life skills classes. It is amazing how many people there are that can not balance a check book.
The Feds have made rules to protect the loan companies under pretty much every possible circumstance. You CAN get out from under a student loan by dying. Maybe. And they’ve allowed the loan sharks to turn a humungous profit from predatory interest rates. Many people graduate from college with a debt that it will take DECADES to pay off even if they get their dream job.
As always, it’s all about profit for the obscenely rich with no thought given to the people who really ought to be the congress critters’ main concern.
You can do what we did for our grandkids, start a 529 college investment plan for each one and let it build up over time. Most states also give you a tax break on what you put in that 529.
Our 4 kids got a great deal on college. totally free at the school of their choice. And all because I am a 100% disabled vet. Our son joined the Army, spent 23 years in and now retired is just traveling wherever he wants to go. 3 daughters all went to college, well 1 of the twins dropped out of HS and had a kid, but she grew up, got her GED and went to college, then law school, she is now a judge. The other 2 got degrees and found really great jobs. Total cost for college-nothing.
If student loans only went to tuition and books, I would support eliminating them. The problem is, the money can be used to live lifestyles that don’t have much to do with scholastic achievement. How I would have loved to live on campus and not have to work while attending college! Those kids all seemed to have so much fun!! The fact is, I didn’t want to borrow too much because you have to pay it back.
My children didn’t have to take out student loans because we paid for their college. Both of them had to have jobs though. Never hurts to have a little skin in the game and now we are the proud parents of a Detroit Police Officer and an accountant.
Many, not all, but a vast majority who cry about paying student loans, yet buy expensive cars and clothes, vastly overpriced homes and all the latest tech toys.Forgiving the debt doesn’t teach them responsibility, but that is the communist way.
When the government took over the student loan program (it was snuck into the Obamacare bill), it became a free-for-all for universities to raise tuition at rates much higher than inflation since it’s other people’s money. If you want to get college costs under control… We have to eliminate the student loan program and force people to pay out of pocket. That way, college will actually be affordable and universities are going to have to stop doing things like employing scores of administrators that they don’t need, and get rid of useless fields of study as well.
There is no way of knowing what we have lost with our policy of not giving every person their best opportunity to achieve whatever they can. It is detrimental to the entire human race, not just to the individual. And, it isn’t just that the mind that could have discovered the cure for cancer could have been born in poverty and never learned to read.
The average college graduate pays about $7800 more a year in federal taxes than the average high school graduate. Over 30 years, that totals about $234,000. If that’s divided by the 4 years it takes to get a college education, the government breaks even if it paid every student $58,500 a year to attend school. This doesn’t even consider that with the degree, the person is less likely to ever need unemployment or welfare, and that more students would complete high school if they could see it as the way to a good job. They would also be paying a larger amount in all other types of taxes, social security and Medicare. The best investment we could make to keep America strong is to not just forgive all student loans but to make all higher education, including trade schools, etc totally free, as long as the student is making decent grades. There is no better way to spend money than, to give our people every opportunity to be the best they can be. Yes, It’s good for them individually, but the country is made up of individuals, so what’s good for one is good for the country.
ibFrank almost 2 years ago
The Student loan debt is proof that high schools need to have life skills classes. It is amazing how many people there are that can not balance a check book.
Concretionist almost 2 years ago
The Feds have made rules to protect the loan companies under pretty much every possible circumstance. You CAN get out from under a student loan by dying. Maybe. And they’ve allowed the loan sharks to turn a humungous profit from predatory interest rates. Many people graduate from college with a debt that it will take DECADES to pay off even if they get their dream job.
As always, it’s all about profit for the obscenely rich with no thought given to the people who really ought to be the congress critters’ main concern.
martens almost 2 years ago
You can do what we did for our grandkids, start a 529 college investment plan for each one and let it build up over time. Most states also give you a tax break on what you put in that 529.
FrankErnesto almost 2 years ago
That lesson in payments and interest rates might be the only thing they learn.
timbob2313 Premium Member almost 2 years ago
Our 4 kids got a great deal on college. totally free at the school of their choice. And all because I am a 100% disabled vet. Our son joined the Army, spent 23 years in and now retired is just traveling wherever he wants to go. 3 daughters all went to college, well 1 of the twins dropped out of HS and had a kid, but she grew up, got her GED and went to college, then law school, she is now a judge. The other 2 got degrees and found really great jobs. Total cost for college-nothing.
buckyteeth almost 2 years ago
If student loans only went to tuition and books, I would support eliminating them. The problem is, the money can be used to live lifestyles that don’t have much to do with scholastic achievement. How I would have loved to live on campus and not have to work while attending college! Those kids all seemed to have so much fun!! The fact is, I didn’t want to borrow too much because you have to pay it back.
My children didn’t have to take out student loans because we paid for their college. Both of them had to have jobs though. Never hurts to have a little skin in the game and now we are the proud parents of a Detroit Police Officer and an accountant.
bluegrassfan almost 2 years ago
Many, not all, but a vast majority who cry about paying student loans, yet buy expensive cars and clothes, vastly overpriced homes and all the latest tech toys.Forgiving the debt doesn’t teach them responsibility, but that is the communist way.
Johnnyrico almost 2 years ago
When the government took over the student loan program (it was snuck into the Obamacare bill), it became a free-for-all for universities to raise tuition at rates much higher than inflation since it’s other people’s money. If you want to get college costs under control… We have to eliminate the student loan program and force people to pay out of pocket. That way, college will actually be affordable and universities are going to have to stop doing things like employing scores of administrators that they don’t need, and get rid of useless fields of study as well.
Diane Lee Premium Member almost 2 years ago
The average college graduate pays about $7800 more a year in federal taxes than the average high school graduate. Over 30 years, that totals about $234,000. If that’s divided by the 4 years it takes to get a college education, the government breaks even if it paid every student $58,500 a year to attend school. This doesn’t even consider that with the degree, the person is less likely to ever need unemployment or welfare, and that more students would complete high school if they could see it as the way to a good job. They would also be paying a larger amount in all other types of taxes, social security and Medicare. The best investment we could make to keep America strong is to not just forgive all student loans but to make all higher education, including trade schools, etc totally free, as long as the student is making decent grades. There is no better way to spend money than, to give our people every opportunity to be the best they can be. Yes, It’s good for them individually, but the country is made up of individuals, so what’s good for one is good for the country.