We Must Cancel Everyone’s Student Debt, for the Economy’s Sake

CrimsonTider

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We would have to base it on income. Doctors, Dentists, Lawyers and MBAs from top programs should not be included unless they are working in non profit or government.

They’ll be Gucci either way.
Degrees should ha e different prices
 

Mr swag

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Once a person has paid the total amount of a loan +15%...The debt should be forgiven....Example:I owe 90k...but the actual loan was 50k.Once I pay a total of $57,500...the debt should be forgiven.....Also,loan payments should be suspended when you are unemployed.

I paid mine off. How much should I get back? 75%?
 

MMS

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You’re looking at it incorrectly. This is an unreasonable problem. Education should be free. The unreasonable solution is to cancel the debt. The next democratic congress/presidency needs to act swiftly. These are issues that should have been addressed in 2009.

We wasted our advantage on what?
the dirty secret is the student loan crisis was indirectly made worse by the ACA

hidden in the bill were increases to the Pell Grant, more options for deductions and credits on tax day, and subsidies to reduce student loan interest rates

the result: more people going to college than should

the answer isnt always to spend. If anything they should just make getting a loan more difficult and put pressure on the universities to downsize

Auburn is 3x more expensive today than it was when I was a freshman in 2006.
 

North of Death

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We would have to base it on income. Doctors, Dentists, Lawyers and MBAs from top programs should not be included unless they are working in non profit or government.

They’ll be Gucci either way.
Would be a violation of the equal protections clause
 

North of Death

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the dirty secret is the student loan crisis was indirectly made worse by the ACA

hidden in the bill were increases to the Pell Grant, more options for deductions and credits on tax day, and subsidies to reduce student loan interest rates

the result: more people going to college than should

the answer isnt always to spend. If anything they should just make getting a loan more difficult and put pressure on the universities to downsize

Auburn is 3x more expensive today than it was when I was a freshman in 2006.
ACA took away subsidized loans for graduate degrees too
 

Mr swag

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id be happy w/ getting 75% back
or 75% off my remaining balance

But this is what people are leaving out. This will never happen because then you have to pay the people back who already paid.

The only thing that makes sense is that after 10 years, you have no more interest and if you have private loans you can move them to sallie Mae and drop the interest.

People need to be reasonable because saying write off 100k is bullshyt and will never happen
 

FAH1223

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But this is what people are leaving out. This will never happen because then you have to pay the people back who already paid.

The only thing that makes sense is that after 10 years, you have no more interest and if you have private loans you can move them to sallie Mae and drop the interest.

People need to be reasonable because saying write off 100k is bullshyt and will never happen

The banks got bailed out. People short sold their homes and got their mortgages written off.
 

CrimsonTider

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the dirty secret is the student loan crisis was indirectly made worse by the ACA

hidden in the bill were increases to the Pell Grant, more options for deductions and credits on tax day, and subsidies to reduce student loan interest rates

the result: more people going to college than should

the answer isnt always to spend. If anything they should just make getting a loan more difficult and put pressure on the universities to downsize

Auburn is 3x more expensive today than it was when I was a freshman in 2006.

What does more people going to college than should mean?

College shouldn’t be a luxury.

More people should be in college.
 

MMS

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What does more people going to college than should mean?

College shouldn’t be a luxury.

More people should be in college.
capitalism is built off of supply and demand

right now there is a greater supply of students than there is colleges to offer services (and a greater supply of federal and private loan money)

because of this all of the colleges are squeezing students because they know the students will pay it

colleges wont begin reducing prices until the supply of students with money goes down. If govt attempts to regulate pricing the colleges will just cheapen the cost to operate to match the new income
 

Pressure

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what type of entry level job straight out of undergrad is paying a starting salary of 250k? :heh:
please let me know
Who the fukk said anything about undergrad?

The conversation is about crippling student debt. Often times we cite people with the largest amount of student debt. Which in almost all cases are students who go to graduate school or in this example law school at Georgetown.

The point I made is, if you're going to one of the top schools and land a top job, you aren't concerned about these issues.

Ipso facto the discussion should be focused around students who incur smaller amounts of debt, but face a more crippling scenario because they aren't receiving a similar ROI regarding their education.

:comeon:
 

Pressure

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capitalism is built off of supply and demand

right now there is a greater supply of students than there is colleges to offer services (and a greater supply of federal and private loan money)

because of this all of the colleges are squeezing students because they know the students will pay it

colleges wont begin reducing prices until the supply of students with money goes down. If govt attempts to regulate pricing the colleges will just cheapen the cost to operate to match the new income
It seems you're attempting to combine two points into one and I'm not sure it flows.



 

CrimsonTider

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capitalism is built off of supply and demand

right now there is a greater supply of students than there is colleges to offer services (and a greater supply of federal and private loan money)

because of this all of the colleges are squeezing students because they know the students will pay it

colleges wont begin reducing prices until the supply of students with money goes down. If govt attempts to regulate pricing the colleges will just cheapen the cost to operate to match the new income

Were talking about government and non profits

All of this can and should be regulated. You just have congress that has no grasp or care for this issue
 
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