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Peace out public service loan forgiveness

The only reason it even makes sense to have tried would have been to either take advantage of tax law or gamble on home price appreciation.
 
I don't know the answer to this, but prior to the bubble in the mid-2000's when was the last time a house depreciated in value over say, a thirty year period? Perhaps it happened all the time, but I seem to recall in my limited reading on the topic that it wasn't necessarily much of a gamble that your house would appreciate, and was generally one of the best (if not THE best) investments a middle-class family could make.
 
Palma, stop being dense. The point is not the goddamned home ownership, the point is what that means for wealth and buying power.

https://www.google.com/amp/s/amp.bu...effect-of-student-loans-on-the-economy-2015-5

We are sending graduating class after graduating class into the economy with less and less buying power and wealth. That's less homes purchased, less cars purchased, less children born, less stocks purchased, and very importantly, less businesses started. The American economy depends upon people spending their money, not sending it all directly to Sallie Mae or Bank of America, or just as likely defaulting on their student loans and having their credit ruined.
 
Wakeforest22890 said:
I don't know the answer to this, but prior to the bubble in the mid-2000's when was the last time a house depreciated in value over say, a thirty year period? Perhaps it happened all the time, but I seem to recall in my limited reading on the topic that it wasn't necessarily much of a gamble that your house would appreciate, and was generally one of the best (if not THE best) investments a middle-class family could make.
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Depends on the spatial scale you're talking about. I am sure there are plenty of examples of localized depreciation of real estate (e.g., Detroit or Flint, but I haven't run the numbers; Tuskegee AL, definitely), but on state wide or nation wide scales that is extremely rare.
 
2&2 Slider To Leyritz said:
That's because there are a bunch of idiots in Massachusetts and a bunch of law schools there who cater to said idiots. And there always will be both, so there shouldn't be a problem filling those positions.
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ITT: Man in NC argues vigorously about the Massachusetts lawyer job market with a man in Massachusetts who graduated recently from law school in Massachusetts and currently works as a lawyer in Massachusetts.

Yet the millennials are the "know it all" elitists. Makes you wonder.
 
Well the millennials generally change jobs every 2 years, so buying a house doesn't make any sense


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myDeaconmyhand said:
Palma, stop being dense. The point is not the goddamned home ownership, the point is what that means for wealth and buying power.

https://www.google.com/amp/s/amp.bu...effect-of-student-loans-on-the-economy-2015-5

We are sending graduating class after graduating class into the economy with less and less buying power and wealth. That's less homes purchased, less cars purchased, less children born, less stocks purchased, and very importantly, less businesses started. The American economy depends upon people spending their money, not sending it all directly to Sallie Mae or Bank of America, or just as likely defaulting on their student loans and having their credit ruined.
Click to expand...

"Baby boomers can't sell a house, cause millennials can't afford one. Ask anyone selling a home"

Nonsense. And even if it were true, that just means home prices should go down, which is a good thing

But yes, people going to college and being an English major or going to a shitty college or taking retail jobs is a big problem. Let's cut business taxes and eliminate all these Obamacare regulations so wages can go up again .



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I coulda paid off my student loans already if I wasn't a moron. We don't need to change policies to stop people from being a moron. In fact, we should probably make colleges more expensive so the morons have to go to school in Mexico, and hopefully stay there.


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myDeaconmyhand said:
The conservative mindset: the only people who deserve financial well being are farmers and CEOs

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And you will be one too one day!!!*

*No way in hell, but we have to keep this idea in your head so you think the tax cuts we give ourselves at your expense are OK.
 
Except if home prices go down too much, boomers won't break even.
 
palmab03 said:
"Baby boomers can't sell a house, cause millennials can't afford one. Ask anyone selling a home"

Nonsense. And even if it were true, that just means home prices should go down, which is a good thing

But yes, people going to college and being an English major or going to a shitty college or taking retail jobs is a big problem. Let's cut business taxes and eliminate all these Obamacare regulations so wages can go up again .



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WTF? English majors are real Americans
 
plama, am I stupid for expecting you to be reasonable here? Your anecdotal understanding of the housing market does nothing to disprove that millenial's student debt is dragging down the market as a whole, and its only getting worse. I'm not really concerned about your opinions on how expensive college should be. Any answers to this problem are purely theoretical at this point. My concern is the rapidly increasing nationwide student debt load and how that affects our economy

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myDeaconmyhand said:
plama, am I stupid for expecting you to be reasonable here? Your anecdotal understanding of the housing market does nothing to disprove that millenial's student debt is dragging down the market as a whole, and its only getting worse. I'm not really concerned about your opinions on how expensive college should be. Any answers to this problem are purely theoretical at this point. My concern is the rapidly increasing nationwide student debt load and how that affects our economy

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I'm not that old (35) my parents paid 1-2k a semester for me to go to wake for undergrad and grad school because we were in the lowest possible income bracket and my student loan payment is under $300/mo. And i received no merit based scholarships, despite being a national merit scholor. (Low gpa, became a slacker jr year of HS when i was set to be valedictorian after sophomore year). While it's a pain to pay, it's not debilitating.

What is Debilitating is making bad choices about where you go to school and what major you select. I've got ucla grads and Columbia grads I'm meeting next week applying to be an executive assistant. Guess what their majors were. 10 resumes. All have their bachelors. All are 30 years old; want a job to schedule meetings and wash someone's car. All because it pays $60k a year when if they had a practical major they could make that at 25.

The solution is probably drastically cutting back student loan funding and making it merit based. Then Hatch won't make $4 million dollars and we won't build and indoor football practice field and phdeac won't have to deal with 8 layers of middle management in his daily life as a professor. Provost of student development can go to the wayside.

Identify the smart people by 8th grade, then make the public education from there more specialized for the rest. People who should have been identified as plumbers by age 13 shouldn't be spending $200k to go to college and get a liberal arts education. And a good plumber can make a good living.

There's no one I went to high school with that was a dumbass at age 14, that wasn't still a dumbass at age 18. And everyone in my honors classes at 14 made something of themselves.

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palmab03 said:
I coulda paid off my student loans already if I wasn't a moron. We don't need to change policies to stop people from being a moron. In fact, we should probably make colleges more expensive so the morons have to go to school in Mexico, and hopefully stay there.


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Why you got to call out Rubbins like that?
 
Those ideas about education only apply to white people, however. We can do reparations by investing more in the African American community , IMO. Divert more funding that way. It's both the right thing to do and should end the current racial tension.


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palmab03 said:
I'm not that old (35) my parents paid 1-2k a semester for me to go to wake for undergrad and grad school because we were in the lowest possible income bracket and my student loan payment is under $300/mo. And i received no merit based scholarships, despite being a national merit scholor. (Low gpa, became a slacker jr year of HS when i was set to be valedictorian after sophomore year). While it's a pain to pay, it's not debilitating.

What is Debilitating is making bad choices about where you go to school and what major you select. I've got ucla grads and Columbia grads I'm meeting next week applying to be an executive assistant. Guess what their majors were. 10 resumes. All have their bachelors. All are 30 years old; want a job to schedule meetings and wash someone's car. All because it pays $60k a year when if they had a practical major they could make that at 25.

The solution is probably drastically cutting back student loan funding and making it merit based. Then Hatch won't make $4 million dollars and we won't build and indoor football practice field and phdeac won't have to deal with 8 layers of middle management in his daily life as a professor. Provost of student development can go to the wayside.

Identify the smart people by 8th grade, then make the public education from there more specialized for the rest. People who should have been identified as plumbers by age 13 shouldn't be spending $200k to go to college and get a liberal arts education. And a good plumber can make a good living.

There's no one I went to high school with that was a dumbass at age 14, that wasn't still a dumbass at age 18. And everyone in my honors classes at 14 made something of themselves.

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This sounds a bit like the British system.
 
Sooooo uhh is this really happening? Or is this something that will get crossed off when the budget heads to Congress for approval? Cause this is a big fucking deal. Contrary to what 2&2 is prattling on about, this will have major negative implications in the legal field. Can't speak to the medical field or other graduate programs, but a lot of people I went to law school with would not have been able to go without this program.
 
WFUtoUSC said:
Sooooo uhh is this really happening? Or is this something that will get crossed off when the budget heads to Congress for approval? Cause this is a big fucking deal. Contrary to what 2&2 is prattling on about, this will have major negative implications in the legal field. Can't speak to the medical field or other graduate programs, but a lot of people I went to law school with would not have been able to go without this program.
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So the world graduates less lawyers, big fucking deal. There are already way more law school graduates than there are jobs as actual lawyers.
 
plama has a way of having good points but arriving at them in ways that de-legitimize them. it's amazing.
 
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