People have to start paying their student loans back next week

I remember when my niece took out her first student loan. She was encouraged to borrow extra so she could travel to Europe between terms. She did well in her classes and enjoyed her European vacation. Naturally she had several thousand more dollars to pay back.
At the same time two of my son were in college but they lived at home and went to a small college. They earned scholarships, held full time jobs and had help from their parents. They came out with numerous degrees but no loans To be paid back.
Currently they all have well paying jobs. Going to a larger party college or going to a small local college made no difference…except for the money she had to pay back.
 

Trade said:
You say that like it's a bad thing. I look at it as an investment which pays off in a more emlightened citizenry capable of critical thinking.
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It is a bad thing when a group of people who have worked for their money are required to foot the bill for college students who should be paying their own way. ETA: it's far from any investment that I would willingly make.... I see what these liberal colleges are putting out.
 
Who_so_ever said:
It is a bad thing when a group of people who have worked for their money are required to foot the bill for college students who should be paying their own way. ETA: it's far from any investment that I would willingly make.... I see what these liberal colleges are putting out.
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dilettante said:
The most successfully marketed bit of Orwellian doublespeak in history. You do realize it means exactly the opposite of its literal meaning, right?
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Trade said:
If the only reason you are going to college is to get a marketable skill in order to use it to make money you are missing the main point which is to learn to think critically.
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I disagree. Especially where tuition is on you, why invest thousands of dollars and a minimum of 2 years for a degree that doesn't promise future employment and decent earnings? Someone who wants to be a physician, a lawyer, or even a mortician doesn't enter college to ultimately think critically....I mean, that isn't their primary goal. Their primary goal is to learn their chosen craft or profession. Ultimately, they want to earn as much as they can.
 
Twostep said:
You may want to read up on what is involved in actual forgiveness.
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When people over 18 sign their student loan agreement, it's assumed they read the part where it says they agree to pay it back. What's different about student loans, and a big win for the signer, is that they don't charge any interest. That's a gift right there....from taxpayers, who pay the (unknown) interest without signing anything except their tax forms.

If millions of student loan signers can prove they were coerced, misled, or tricked into signing their student loan agreements, then the loans have to be forgiven. But I'm confident that isn't the case. Even if someone fails to read their loan agreement before signing it, they are responsible for paying back the loan according to the terms of the agreement they signed.
 
People entering college who don't want to pay back a student loan, or don't expect they'll ever be able to, can still apply for a Pell Grant. I don't think Pell grants pay full tuition anymore, though. About 2/3 of it, last I checked, and I think you're college choices are limited.

They can apply for scholarships, too. I read that Harvard has billions available; something like 2 billion a year in available scholarships.
 
There used to be substantial financial support for higher education from federal and state governments, well into the 1970’s. I remember when community college in California was free and UC and Cal state charged a nominal fee (no tuition). That support slowly bled away over the decades. Education turned into a business where tuition became a substantial piece of the financial formula along with research grants and private industry (supporting research or job training that could generate profits for them).

I was college faculty and later an administrator at three types - CC, small liberal arts, and R-1 land grant. Same story everywhere.
 
I don't have a problem with funding colleges with taxes. I can think of worse places to put taxes. But when one signs for a loan, there is a legal responsibility to pay it back. I imagine many students were pleased when they were told they didn't have to pay it back, but I will guess that when they signed the papers, they weren't counting on a free ride.

I'm not too excited about the controversy, whether they will be required to pay it back or not, but I would take more interest in proposals to make college more affordable.
 
Hear the one about the Psychologist that can't find a job & the
Electrician that shut off his lights & Power?

Then the City Sanitation guys shut off his water. Finally the old
custodian had his stuff out of there sitting at the street corner
and 2 city squad cars sat there all day so the He and the
stuff left by sundown.

Forgiving Student Loans is like kissing babies for votes.

Then there is the call to go back to the office to work 3 days a week.
Problem are the office moved 100's of miles away. Take Tesla / Space x's
Orbital positions now. West to East / North to south.

My neighbors say they would love to move the stress out of the home 2 - 3 days a week.
The average person has no clue what it is like to talk to crazy Angry's on the phone
hooked with a computer all day.
 
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EmptyCup said:
There used to be substantial financial support for higher education from federal and state governments, well into the 1970’s. I remember when community college in California was free and UC and Cal state charged a nominal fee (no tuition). That support slowly bled away over the decades. Education turned into a business where tuition became a substantial piece of the financial formula along with research grants and private industry (supporting research or job training that could generate profits for them).

I was college faculty and later an administrator at three types - CC, small liberal arts, and R-1 land grant. Same story everywhere.
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I assume those changes were made by state legislators or governors who were elected to their offices.

A few ways that kind of support "bleeds away" - mismanagement, misappropriation, rising costs at colleges, and lack of oversight.
 
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As parents, we felt it was our duty to pay for our daughter's college education. So, when she was 2 years old, we enrolled her into the Florida Prepaid College Plan. She was able to start her life without debts.
We just did the same for our grandchildren. Now, their parents (or themselves) won't have that burden. To us, it was important to take care of them this way.
 

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