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A college degree is a lousy investment

You know what's a lousy investment ? Spending over a decade saving a bunch of money for your kid's education and then watching the government forgive loans for those whose parents took them to Disneyworld or bought a new car instead of saving money.
 
PPP loans were intended to be essentially government subsidy and the program was designed for them to be forgiven from the outset. Terrible comparison. There were tons of problems with PPP obviously but it was a product of the circumstances.
 
My kids aren't in college yet but if the government wants to give us $20K to throw into their 529s, no questions asked, we'll be sure to take it.
 
But my concern is similar to what Juice outlined above. This isn’t systemic change. A group of borrowers at a given point in time will benefit. The system will continue on exactly as before churning out millions of people with significant student loan burdens.
 
BiffTannen said:
You know what's a lousy investment ? Spending over a decade saving a bunch of money for your kid's education and then watching the government forgive loans for those whose parents took them to Disneyworld or bought a new car instead of saving money.
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You know what's a lousy investment, paying for your kids school lunches, when other kids get their lunches for free. Why aren't those parents more responsible with their money and pay for their own lunches, why do hardworking parents have to pay for their own kids lunches, while other ones don't.

(right same argument?)
 
WRS said:
But my concern is similar to what Juice outlined above. This isn’t systemic change. A group of borrowers at a given point in time will benefit. The system will continue on exactly as before churning out millions of people with significant student loan burdens.
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I mean, at the risk of being a whining, moaning dickhead, once the first billion is excused, there will be *more* loans granted and taken unless limits are imposed
 
WRS said:
PPP loans were intended to be essentially government subsidy and the program was designed for them to be forgiven from the outset. Terrible comparison. There were tons of problems with PPP obviously but it was a product of the circumstances.
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they're both government subsidies
 
TimmyClutch said:
You know what's a lousy investment, paying for your kids school lunches, when other kids get their lunches for free. Why aren't those parents more responsible with their money and pay for their own lunches, why do hardworking parents have to pay for their own kids lunches, while other ones don't.

(right same argument?)
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No it's not because we require kids to go to elementary school and they're not adults.
 
WokeandBroke said:
The title of the thread is "A college degree is a lousy investment." Evidently the people seeking this #relief agree, because they don't want these loans enforced. If so, why must the taxpayers pay twice for something even the borrower doesn't want to pay once for? If these loans are so bad, are we going to stop making them?
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take it to the tunnels chicken
 
JuiceCrewAllStar said:
they're both government subsidies
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Okay, but one was explicitly intended to be forgiven from the outset. It was a “loan” in name only. People obtaining student loans had no basis for expecting them to be forgiven except that they wanted it to happen.
 
TimmyClutch said:
You know what's a lousy investment, paying for your kids school lunches, when other kids get their lunches for free. Why aren't those parents more responsible with their money and pay for their own lunches, why do hardworking parents have to pay for their own kids lunches, while other ones don't.

(right same argument?)
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I don't think they're really comparable situations. (1) kids have to go to school, it's the law. No one has to go to college; (2) kids have to eat, it's the law of nature. No one has to go to college; (3) I'm not real concerned about school systems bloating the cost of school lunches; (4) I'm not real concerned about kids taking on food that they don't need, whereas there are a lot of people that simply made bad school and studies decisions and they aren't paying off. I know kids waste food all the time, I just don't care that they do enough to shut down a school lunch program.

Also, it would be nice if all parents made enough money to pay for their kids' food, but if it can't happen I think there is broad public support for feeding hungry children. It's pretty self-evident that broad public support does not exist for college loan forgiveness.

Personally, I don't really have a strong opinion about the government forgiving student loan debt as I can see both sides of the issue. I just don't think it's comparable to serving up lunches to kids at school.
 
BeachBumDeac said:
I assume you have already signed your children up for coursework there, because if you wouldn’t want it for your kids it’d be hypocritical for you to want it for other people’s kids.
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You must not be familiar with this awesome new conservative American idea called the “caste system”
 
Watching aging wealthy white people complain about somebody else getting a break when our entire economic and tax system is designed to benefit them at every turn never a gets old.

Such pathetic bitches. I cannot wait for those death panels.
 
My only issue with this program is that it’s only federal loans that qualify.

My wife and I did the fiscally responsible thing and refinanced our loans using a single lower interest loan. That would disqualify us.
 
Anybody complaining on this thread needs to post their last tax return so we can see all the breaks me and my fellow tax payers gave them for expenses that don’t benefit us one iota.
 
This part of it seems super significant/underrated:

Part 3. Make the student loan system more manageable for current and future borrowers
Income-based repayment plans have long existed within the U.S. Department of Education. However, the Biden-Harris Administration is proposing a rule to create a new income-driven repayment plan that will substantially reduce future monthly payments for lower- and middle-income borrowers.

The rule would:

Require borrowers to pay no more than 5% of their discretionary income monthly on undergraduate loans. This is down from the 10% available under the most recent income-driven repayment plan.
Raise the amount of income that is considered non-discretionary income and therefore is protected from repayment, guaranteeing that no borrower earning under 225% of the federal poverty level—about the annual equivalent of a $15 minimum wage for a single borrower—will have to make a monthly payment.
Forgive loan balances after 10 years of payments, instead of 20 years, for borrowers with loan balances of $12,000 or less.
Cover the borrower's unpaid monthly interest, so that unlike other existing income-driven repayment plans, no borrower's loan balance will grow as long as they make their monthly payments—even when that monthly payment is $0 because their income is low.
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BillBrasky said:
Watching aging wealthy white people complain about somebody else getting a break when our entire economic and tax system is designed to benefit them at every turn never a gets old.

Such pathetic bitches. I cannot wait for those death panels.
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this would be a great argument if waiving student loan debt helped those at the very bottom of our economic and tax system.

it doesn't do that.

but, those people at the very bottom generally don't vote anyway, so
 
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