Warren's Plan on Student Loans

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CocoCincinnati

Federal Marshal
Feb 7, 2007
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#23
think there's a larger discussion, though, about the amount of debt kids today face. Higher ed costs have gotten ridiculous, & for middle class families like ours, there's almost no grant $$ or the like, it's either pay it out of pocket or go the loan route.
I don't disagree with you but I'm still against forgiving the loan completely. Maybe we could forgive monthly payments for a time if they are below a certain income. Maybe we could set up very small payments that they can afford. At the very least make them payback some percentage of the principal. I'm sure there are other ways to help without dropping the whole thing.

BUT, whatever is done cannot happen in a vacuum. I agree that the underlying problem has to be addressed and IMO should be a mandatory part of any bill to help our the people in debt. Any bill that forgives all or part of the debt that does not also try to fix the problem should not be approved because we'll find ourselves facing the same problem a generation from now.
 
Jul 25, 2018
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#24
To my point. You made a commitment and saw it through. I will be right about the same as you when I am done.
Everyone has decisions to make and if someone is in debt, it is nobody's fault but their own. It is called accountability. Why should I bail you out? Who bailed me out the past 30 years?
You're looking at one component of this, though.
 
Sep 18, 2006
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SEC country :(
#27
Graduated debt-free from grad school.

Because I worked as a TA and had also put in service time prior to that and the G.I. Bill covered the rest of my living expenses.

I also had a wife and kids. My wife didn't work; she stayed home with the kids.

It can be done. You just have to live like a poor for a couple of years.

No one forced these "kids" to go out and get loans and attend college to get a communications degree and be unemployable. Go learn a trade. Don't go to college if you can't afford it. Kids and their families are being fed a bill of goods about attending college, that it opens doors. Maybe, maybe not.

We are destroying a generation of young men by dissuading them from entering profitable careers that involve, gasp, actual labor. I was talking with a general contractor the other day. He was lamenting the fact that he could not find reliable labor. He was saying that there was gobs of money to be made in construction if one were willing to put in the hard work.
 
Jul 20, 2018
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#29
Graduated in 1983 and had my loans paid off in 5 years. Paid out of state tuition for my daughter to attend OSU and had her loans paid off in 5 years. I majored in a degree program that I knew would give me a good opportunity for a good living. I worked my way through college. My wife worked at the university to help pay for my degree. We lived in an 18' travel trailer for awhile in Stillwater before getting into married student housing. We made sacrifices. We paid our bills on time and paid off student debt.

Now, I'm supposed to be ok with some fruitloop that majors in philosophy to be able to write off their loans because they lived the high life, went to cabo every spring break, laid around the house during the summer break, and couldn't get a decent job? Nope.
 
Oct 30, 2007
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#30
You can't just eliminate student loan debt. It has to be paid for by someone. If the government forgives student loan debt, it will just be rolled into our national deficit. So eventually it would have to be paid for by everyone instead of just the individuals that benefited from the loans.

I would be okay with reducing interest rates, or creating programs to help people that are struggling to make their payments, but I hate the idea of forcing the population as a whole to pay for the debt of a few.
 

steross

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#32
I will add about Warren though that at least she's willing to put policy ideas out there for us to debate. As much as I disagree with her I applaud that. The rest of the empty suits seem content to run solely on rhetoric alone.
You'll disagree with a lot of it, but can't say that the policy isn't there:
https://www.yang2020.com/policies/
 

Bowers2

Stackin' Joe's Cups
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#36
He wants to eliminate the very reason his parents emigrated for here in the first place. I found nothing to agree with.
There were over 100 links to his different policies. Really cool you could read it all in just over 20 minutes.
 

SLVRBK

Johnny 8ball's PR Manager
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#37
You'll disagree with a lot of it, but can't say that the policy isn't there:
https://www.yang2020.com/policies/
Why does it have to be Ohio?

Require all universities with endowments of over $30 billion to contribute 1% of their total endowment each year ($300 million+/year) to the founding and operations of a new university in Ohio until it becomes self-sustaining, at which point another community will be identified (the “Harvard Creates a New University in Ohio Tax”).
 

steross

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#40
Why does it have to be Ohio?

Require all universities with endowments of over $30 billion to contribute 1% of their total endowment each year ($300 million+/year) to the founding and operations of a new university in Ohio until it becomes self-sustaining, at which point another community will be identified (the “Harvard Creates a New University in Ohio Tax”).
Likely because the rust belt has been devastated by job loss and opioids.