Student Loan Crisis

If you make it like a NORMAL loan the lender will start to evaluate the borrower's ability to pay back the loan. They will start to consider grades, field of study, etc... Interest rates will probably vary depending on which degree or career paths. A lot less people will qualify for loans.

 

What a nice sentiment! Thinking of others and paying it forward.

 

And you make $30K - $50K more a year than someone without that degree so take that extra and pay off you loan. And any loan that is forgiven makes that forgiveness subject to income taxes. The forgiveness is income.

 

you can't claim bk on a student loan, it's not treated the same as a normal loan

 

But if we're even going to have a student loan program, that makes more sense than the version we currently have.

 

you men like inflating the value of your property to get a loan and deflating the value for taxes

 

Like showing that your field of study and your career plan will put you in a position where you will be able to pay back the loan.

 

Whether you have sympathy or not, it does happen and the same people who have the screw you attitude had the screw you attitude toward your loans as well.

 

if loans were fair, people that had multiple bankruptcies under their built would have a harder time getting their next loan

 

And this relates to Student Loans how?

 

republicans were the ones comparing the loans to normal loans

 

Please explain because this sounds like gibberish.

 

I would actually prefer that the students pay off the loans themselves (or their parents) just as they always have. Three points in favor of my position ...

1) Statistical data proves that college graduates make substantially more money over the course of their lifetimes than do non-college graduates. Therefore, paying off college tuition loans is really a form of welfare for the demographic that is destined to make the most money in their lifetimes.

2) And what about all of us who paid tens of thousands of our own dollars to put our kids through college. From my perspective, forgiving college loan debt is completely unfair. If the politicians want to forgive all of the student loans, then from my perspective, they should also pay me and other parents back for the money we spent on our kids' college tuition.

3) And how does this work in the future? Let's say Congress passes a law forgiving all current college tuition loan debts. What happens to the student who takes out a loan a year later? Are we forgiving that loan too?

Unquestionably, Congress will never do the right thing. Instead, they will do the easy thing. So I may as well waste a few words on the right thing ...

If we want to help college students pay off their loans, let's do this ...

1) Raise taxes to pay for it. It could simply be a tax surcharge on your AGI, or it could be federal sales tax. But, in any case, let's pay for it. Let's not just provide the money out of thin air, adding to the federal budget deficit. I have steadfastly maintained that we, the people, can have whatever we want, so long as we're willing to pay for it.
2) Provide loan payment assistance according to need. A surgeon earning half a million a year doesn't need it. An elementary school teacher making $60k a year needs it. Use a sliding scale of personal income and tax records to determine need.

To put things into perspective, here are some facts ...

1) In 2020, the total amount of college loan debt was $1.57 trillion.

2) A 5% Value Added Tax (a federal sales tax) is estimated to bring in $333 billion per year.

So, you see, it can be paid for (over time) if we want to pay for it. But, if we are unwilling to pay for it, we shouldn't do it.

 

right here "It is a normal loan. If people bankrupt, then government, who will pay it in the end"

http://www.politicalforum.com/index.php?goto/post&id=1072687376#post-1072687376

 

Then bankruptcy isn't a problem. That changes nothing.

 

I was replying to the person saying it was a 'normal loan', it's not, you can't claim bk on a student loan

"It is a normal loan. If people bankrupt, then government, who will pay it in the end"

 

I don't know why you would post a link to something I already know I said. What I was responding to as gibberish was this comment of yours.

Republicans compared student loans to normal loans? I don't know what you mean by this, who said it, and what your point is. How does this comment push the discussion forward?

 

Cry me a river...you borrow money, you pay it back....graduate with a degree in 10th Century Slobovian Pottery and can't find a job except moppin' floors at MickyD's....WELL BOO HOO HOO FOR YOU YOU YOU!!!

 

because you sounded like you were saying no one said it

 

Where’s the “neither” choice? Either choice is a massive expense to the government and therefore the taxpayers.

 

So....you don't seem to have a point, an argument, or a discussion about the topic.

Okay then.

 

whatever, lol

 

I probably shouldn't mention this but I was reviewing my financial aid page earlier and there was a $900 emergency aid payment in there. I didn't sign up for anything, but there it was. Could this have come from one of the Coronavirus aid packages? Did Biden do this,anyone know?

 

Every time I have gotten a loan on property it was the LENDER who established the value of that property and how much they would lend against it not me. Every time I pay taxes on that property it is the GOVERNMENT that established the value of that property. When have you ever told your county/city/state how much your property was worth and how much tax you would pay on it? And why do you claim it is only men, that's a bigoted statement.

 

I guess from sound of it, you can dispute the value on both, and request it raised or lowered

if you raise for one and lower for other, it's fraud