People have to start paying their student loans back next week

Hummmm. Well first we could require that student loans have a nominal fixed interest rate. Then we could require that the loans be used only in programs that translate to jobs that have degree requirements. Entrance to these programs should be rigorous if loans used…act or sat scores. Clep exams and credit should be excepted at all colleges…and a requirement that all students be aware and able to verbalize understanding of how such work. Loans should be capped at a reasonable amount and repayment start at two years regardless of degree requirements. And parents should quit thinking college is for everyone.
 
Rich said:
Taxpayers pay for elementary and high school education, why not make college education an extension of that?
Click to expand...
Sure. If the Cogress or the state/local legislation have the votes to pass the law and fund it. But until then, loans borrowers should pay back their debts.
 

Last edited:
Rich said:
Just my humble opinion - I believe that running themselves like businesses is what pushed the price to where it is today. Businesses are supposed to make a profit, I'm not certain that should be the charter for an educational institution. I realize they have to pay their professors and all that but I don't think it's the correct place to focus on profit.
Click to expand...
They aren't being run like a business because they are being supported by tax payer money. They would be out of business if it wasn't for all of the federal money they are receiving.

Since tax payer money is being given to them in abundance in two forms (funding & federal student loans), they can charge what they want. They know the money will still be pouring in to them.

Stop the funding & federal loans. Let them compete for students & the money from those students. If they produce lousy educations, then students should be looking elsewhere. Just because you "buy a big name product" doesn't mean your getting your monies worth.

Bottom line, if you decide to get a loan to go to college, it's your responsibility to pay it back.

It's time the tax payer stops paying for more entitlements to people who can take care of themselves. If you have the will to go to college, you will find a way to do it yourself.
 
They can vote at 18, they are already adults and contracts are binding.

Stevens T. Mason of Michigan was appointed acting territorial secretary by Andrew Jackson at age 19, the acting territorial governor soon thereafter at age 22, was elected as first state governor at 23, and took office as governor at 24.

You can find many other examples in state and federal legislatures.

The coddling needs to cease.
 
Too many issues associated with these loans.

In the end they are contracts and/or obligations. Unless there were proven scams, usury etc with each individual borrower that still owes money really not much they can do.

They could reach and probably will wind up settling the debts for less than their current numbers.
 
Lilac said:
They aren't being run like a business because they are being supported by tax payer money. They would be out of business if it wasn't for all of the federal money they are receiving.

Since tax payer money is being given to them in abundance in two forms (funding & federal student loans), they can charge what they want. They know the money will still be pouring in to them.

Stop the funding & federal loans. Let them compete for students & the money from those students. If they produce lousy educations, then students should be looking elsewhere. Just because you "buy a big name product" doesn't mean your getting your monies worth.

Bottom line, if you decide to get a loan to go to college, it's your responsibility to pay it back.

It's time the tax payer stops paying for more entitlements to people who can take care of themselves. If you have the will to go to college, you will find a way to do it yourself.
Click to expand...
We'll have to agree to disagree on this matter. I struggle to comprehend the reasoning behind forcing students into such overwhelming debt simply to obtain an education. It defies logic, especially considering that we are one of the few countries to burden individuals in this way. The choice for many becomes tragic: a lifetime of debt or forgoing education altogether.
Estimates place the total cost of the student loan forgiveness program between $870 billion and $1.4 trillion. In contrast, the tax cuts for the wealthiest Americans are projected to cost between $5 trillion and $7 trillion over the next decade. Frankly, I am far more troubled by this exorbitant giveaway to the ultra-rich than I am by efforts to support college students.
That said, I am not a staunch advocate for paying off college loans—it addresses the symptom rather than the root cause of the issue. However, I cannot help but question whether the tax cuts in question truly benefit anyone meaningfully
 
Last edited:
dilettante said:
They can vote at 18, they are already adults and contracts are binding.

Stevens T. Mason of Michigan was appointed acting territorial secretary by Andrew Jackson at age 19, the acting territorial governor soon thereafter at age 22, was elected as first state governor at 23, and took office as governor at 24.

You can find many other examples in state and federal legislatures.

The coddling needs to cease.
Click to expand...
Explain that to the parents! But no, everybody gets a trophy as we all are winners.
 
@Rich, there are some things we do agree on & other we don't on this topic.

I think one of problems are people taking out loans knowing up front they have no intentions of paying them back & expecting to get away with it. I don't know why it isn't called for what it is, IMO, Theft by Deception.

Not everyone, as others have said, need to go to college ending up in debt to make good money. You have trade schools that produce jobs in plumbing, electric, heating/air & etc. You need to have the will to work. Sadly, too many are expecting a soft jobs doing little to nothing for a paycheck ... or just flat out expecting a handout.

My nephew just finished welding school this fall. He is starting out at $25 an hour & after 18 months working as an apprentice, he will be at $35. He has no large outstanding loan & will have a much wanted trade.
 
Muskrat said:
Hummmm. Well first we could require that student loans have a nominal fixed interest rate. Then we could require that the loans be used only in programs that translate to jobs that have degree requirements. Entrance to these programs should be rigorous if loans used…act or sat scores. Clep exams and credit should be excepted at all colleges…and a requirement that all students be aware and able to verbalize understanding of how such work. Loans should be capped at a reasonable amount and repayment start at two years regardless of degree requirements. And parents should quit thinking college is for everyone.
Click to expand...


I dont think tertiary education is for everyone - there are many other pathways to successful working life - but I do think it should be equally accessible to everyone, regardless of wealth or parents wealth or parents ability/committment to pay

Whether you go to college should depend on merit and aptitude, not wealth

However I also accept tertiary educated people, on the whole , earn more money in the long run - I agree with a scheme like we have in Australia where it is government subsidised but the graduate also contributes via their taxes when they are earning over x amount.
 
January said:
I dont think tertiary education is for everyone - there are many other pathways to successful working life - but I do think it should be equally accessible to everyone, regardless of wealth or parents wealth or parents ability/committment to pay

Whether you go to college should depend on merit and aptitude, not wealth
Click to expand...
For me continued education after high school came in the form of Navy schooling, College was never going to happen for me. I had the opportunity to work as a retail butcher for Kroger grocery chain. I just couldn't envision myself doing that the rest of my life. My time in the Navy was extended do to the war in Viet Nam. Once I was able to get out I did. From that time until I retired I had a lot of different jobs. If I got a loan most often I got the extra money needed to pay for the loan by working part time.

That is why my thought is pay for what you borrow.

I did something earlier today that surprised me. I looked up what the average college graduate would earn, in 2025.

Key insights: College graduate salaries
The average projected starting salary in the U.S. for the class of 2025 at the bachelor’s degree level is $68,680, according to an analysis of NACE data.
Overall hiring projections for the class of 2025 are up 7.3% from last year.
Engineering majors have the highest projected salary for the class of 2025 at $78,731, followed by computer science majors with a projected salary of $76,251.
Agriculture and natural resources majors have the highest projected salary jump (2.8%), going from $61,399 in 2024 to $63,122 in 2025.
College Graduate Salaries: 2025 Projections | Bankrate

If I was in my 40's now I don't think it would possible for me to have the same luck as I did back then, without a college degree. 43 years ago I bid a 1st line supervisors job. Within 13 years I rose in supervision & was able to retire early. I could have stayed working but at the same salary but with far more responsibility.


30 years ago the reason I was able to retire & never look back my high earning years my salary was double this & a little more.

Engineering majors have the highest projected salary for the class of 2025 at $78,731

The best part is I was right in not wanting to be tied to one job for the rest of my life.
 
Paco Dennis said:
I am for higher taxes for the wealthy to pay for higher education. Society pays for a good 4 year college after high school. That's my vote. Then when the child becomes a young adult at22-23 they can make some rational choices about their future. :)
Click to expand...
Why should society pay for your child's education? You had it. You educate it. If a "child" can make rational choices at 22-23 what went wrong?
 
hearlady said:
You have the right to pursue the American Dream and work hard to attain it, but it is not guaranteed.
If you don't have skin in the game it loses it's value. And, college isn't the only way to achieve it.
Ask your plumber, gardener, or electrician.
Click to expand...
Plumbers, gardeners or electricians are usually those who don't do well academically. But they absolutely have the right to pursue their American dreams.
 
hearlady said:
You have the right to pursue the American Dream and work hard to attain it, but it is not guaranteed.
If you don't have skin in the game it loses it's value. And, college isn't the only way to achieve it.
Ask your plumber, gardener, or electrician.
Click to expand...
SO dropped out of pre-med. He ended up in a job considered one of the most dangerous and then turned a matching hobby into something mainstream. Needless to say - no life insurance but one interesting ride! It was not easy to come up with what it took for his non-degree certifications but it happened.
 
OldOld said:
Plumbers, gardeners or electricians are usually those who don't do well academically. But they absolutely have the right to pursue their American dreams.
Click to expand...
That comment can be considered very loaded. IMO, that can be said of some people who go to college as well.

I won't look down on any people who decide to work with their hands everyday like those plumbers, gardeners or electricians.

Auto mechanics, farmers, industry, truck drivers, firemen, policemen, military, civilians in fire/police departments & many more also work with their hands or get dirty doing their job. Those people are the ones that make day to day living possible for the rest of us.

It doesn't take a college education to do those jobs, but some require specialized training such as academies or trade schools. They are just as academically inclined as anyone who attended college.

Do you realize the electronics & computers that are in vehicles, farm equipment & other machines?

Ever think what your house would be like without the plumber or electrician who installed & then will maintain what you have when it doesn't work?

Do you realize how many jobs require the knowledge of electronics & computers to fix everyday items in your house? Flash hot water heaters, kitchen stoves, refrigerators, heating units, air conditioner units & whole house generators. Others may name more than I didn't think of.

I've seen some college educated people that didn't have the common sense of a p!ss ant & can't imagine how they ever graduated. Ever think how many have a degree which is useless & won't be able to make the "big money".

Some of the smartest people in the world have been those who are self-made & used their smarts to help others have a better life.
 
Lilac said:
That comment can be considered very loaded. IMO, that can be said of some people who go to college as well.

I won't look down on any people who decide to work with their hands everyday like those plumbers, gardeners or electricians.

Auto mechanics, farmers, industry, truck drivers, firemen, policemen, military, civilians in fire/police departments & many more also work with their hands or get dirty doing their job. Those people are the ones that make day to day living possible for the rest of us.

It doesn't take a college education to do those jobs, but some require specialized training such as academies or trade schools. They are just as academically inclined as anyone who attended college.

Do you realize the electronics & computers that are in vehicles, farm equipment & other machines?

Ever think what your house would be like without the plumber or electrician who installed & then will maintain what you have when it doesn't work?

Do you realize how many jobs require the knowledge of electronics & computers to fix everyday items in your house? Flash hot water heaters, kitchen stoves, refrigerators, heating units, air conditioner units & whole house generators. Others may name more than I didn't think of.

I've seen some college educated people that didn't have the common sense of a p!ss ant & can't imagine how they ever graduated. Ever think how many have a degree which is useless & won't be able to make the "big money".

Some of the smartest people in the world have been those who are self-made & used their smarts to help others have a better life.
Click to expand...
Police departments generally require a degree. You do not get far in most military services without a degree.
We have perfect examples of PhDs. Unfortunately.
 

You must log in or register to reply here.

Back
Top