Canceling student loan debt isn't practical without a longterm solution.

[CopiousX]

Who the fk created the content Einstein

 

[Conan]

As a STEM major, it's ignorant to consider study of the humanities lesser. They are only worthless if you assign value to strictly tangible/monetary items, and I for one would have found Aero Eng/Math/Stats impossible without the value humanities in various forms provided to me.

 

[Kiyoshi-Dono]

The government and “self made” *insert naires* really did a number on society
Talk about propaganda working
Americans are toast
Always talking that problack shyt on here
Y’all nikkas playing digital black face for internet daps/recognition
It’s truly laughable

 

[Conan]

Anyway, not that the United States is applicable, but you can't have a successful democracy without an educated populace. One that can use logic and reason to make their society more harmonious and more prosperous. Any serious democracy would prioritize the free/heavily subsidized education of its citizens. But when you are interested in minority rule as a throwback to when "America Was Great", then you'll balk at removing financial barriers to education, ensuring that many cannot have a great education, and if you do, you'll most likely incur so great a debt that servicing it will sap your ability to profit from said education... better yet you'll convince members of an oppressed class that removing barriers is "unfair" just because they had to navigate said barriers, and removing it now is just unfair to them...

Anyway, the U.S. is fukked long term, and it couldn't happen to a more arrogant and selfish populace.

 

[Bryan Danielson]

If coli had an ounce of intelligence in their tiny brains

they would think bigger

 

[ROFL_GUY]

My niece graduation .. from hs .. they would announce the name and say where they going to college

About 500,,+ kids. Literally everyone was going to college .. not sustainable they don't understand the govt gives these loans and will never be erased.. sold these poor kids a dream ... Capitalism @ it's finest this is America ..

 

[EBK String]

Higher education should be free like most other first world countries

 

[perfectblack999]

Absolutely agree that a long term plan is needed the whole university system is crazy right now. It needs to be overhauled.

Colleges are basically guaranteed money from the government so they’re not really being held accountable for their students’ outcomes. Instead of the money going to faculty, they pump it into administrative costs. I know there’s hella ppl at colleges mailing it in daily.

Meanwhile America‘a future is being bankrupted.

 

[EA]

Here in the UK, student loans aren’t treated like a bank loan and the repayments come out of your salary as a tax once you’re earning over a certain amount. The percentage you’re taxed goes up as your salary increases. It doesn’t have an impact on your credit rating and defaults after 30 years if you can’t pay it back.

America’s university system is fukked but the UK way of handling is probably the closest way you guys would ever get to being reasonable.

 

[desjardins]

The long term plan presented during the primaries was free 2 yr college and free state schools
That would have made sense but as it stands we ain’t getting nothing

 

[Charly Wingate]

Even before the spread of the COVID-19 pandemic, student loan debt—totaling over $1.64 trillion—was a cause for concern, as it is the second largest source of consumer debt in the United States, trailing only mortgage debt. And like collateralized mortgage debt, there is a market for collateralized student debt. Student loan asset-backed securities (SLABS) are the securitized form of student loan debt, repackaged as a marketable financial instrument. As with any investment vehicle, asset-backed securities like SLABS come with risk, particularly when borrowers default on their loans or have their debt discharged through bankruptcy proceedings. However, historically, SLABS have been a relatively sure bet—yielding consistent returns on investment—given that many student loans are guaranteed by the government and that student loan debt obligations are difficult for borrowers to escape. This is because there has been a long-standing and near-total prohibition on student loan discharge via bankruptcy proceedings. A spate of recent decisions rendered in the United States Bankruptcy Courts and two federal circuit courts of appeal could eliminate that prohibition. In turn, this decision could negatively impact the SLABS market, and in a broader sense, the United States economy.


The Next 'Big Short': COVID-19, Student Loan Discharge in Bankruptcy, and the SLABS Market by Samantha Roy, CJ Ryan :: SSRN