the problem with education in this country

[rennigade]

People are so short sighted. No one thinks of the long game and the issues this will cause. In case you havent noticed, we're becoming a welfare state. People feel entitled to have the government take care of them. They want everything for free. How do you eat an elephant? One bite at a time. Just more conditioning. But, for those who are naïve, this is just peaches and cream. This can only be a good thing. Hooray for more welfare.

[ua_guy]

Student loan forgiveness isn't welfare. Most people in this country aren't on welfare nor do most people want to be on welfare and that notion is easily proved by the amount of people who work and earn more than welfare could ever provide. I don't subscribe to nebulous "they" conspiracies about conditioning, because those conspiracies are freaking stupid.

[QuarterMillionMan]

As crazy as it sounds some people think forgiving student loan debt along with other spending (ie, COVID money, IRA-inflation reducation act, etc) will help stimulate the economy and bring down inflation. They don't realize all this helicopter money will increase inflation.

[ua_guy]

will help stimulate the economy and bring down inflation.

Yes, crazy indeed. I don't think I've read much on that viewpoint. SL forgiveness is de-facto stimulus but I don't see how it could bring down inflation. Care to explain?

[QuarterMillionMan]

I didn't win anything except for the bill. I don't have student loan debt and never have. Wouldn't qualify on income even if I did have student debt.

I stand by my earlier statement - this creates more economic value than the money required to forgive the debt.

The one criticism of the program that has flavor of merit is that it has the potential to have a stimulus effect by injecting consumer cash into an inflationary economy, which is something the economy doesn't necessarily need right now. A broken clock is right twice a day and I think this criticism is equally correct.

Your words, not mine.

[james.hendrickson]

Yes, crazy indeed. I don't think I've read much on that viewpoint. SL forgiveness is de-facto stimulus but I don't see how it could bring down inflation. Care to explain?

Yeah, I'm not seeing how this will bring down inflation also. Can someone fill in the dots here for me?

[ua_guy]

Your words, not mine.

Sorry, I think you have misunderstood what I said--completely. My comment about economic value is the long term value of these borrowers as taxpayers and generators of revenue. Nothing to do with bringing down inflation. I've even mentioned that the criticism is partially correct, that it could actually contribute to inflation. That is not a good thing, but I believe the situation is ultimately temporary and the merits of the program outweigh those concerns.

[james.hendrickson]

I want to pipe on this topic.

I my view the greatest threat to economic prosperity for the country isn't high taxation or the debasement of the dollar, its frankly the rich capturing policymaking and changing the rules to tilt the economy in their favor. The greeks noted this was a problem with democracies - they had a tendency to devolve into oligarchy or dictatorship with associated extreme imbalances of wealth. Also, extreme income inequality is well know risk factor for nasty events like civil wars, crime and revolutions. Therefore anything that strengthens the middle class, such as debt reduction, is a wise investment in social stability.

If anything, the Biden administration should have pushed for the total cancellation of ALL federal student loan debt.

[myrdale]

If anything, the Biden administration should have pushed for the total cancellation of ALL federal student loan debt.

Will the government continue providing federal student loan debt going forward?

Personally I would like to have seen it worked into some type of tax rebate system. Say for every $1 you pay in federal tax, $0.10 is applied to your student load. It would provide an incentive for people to capitalize on their gender studies degrees.

[ua_guy]

Will the government continue providing federal student loan debt going forward?

Personally I would like to have seen it worked into some type of tax rebate system. Say for every $1 you pay in federal tax, $0.10 is applied to your student load. It would provide an incentive for people to capitalize on their gender studies degrees.

Any reason you want to discuss degrees in gender studies? Thank God there are people who do study that.

[myrdale]

Any reason you want to discuss degrees in gender studies? Thank God there are people who do study that.

I am of the belief that it has a low ROI. What value does it generate?

[crazyliblady]

Any reason you want to discuss degrees in gender studies? Thank God there are people who do study that.

I would say if someone wants to study gender studies, go right ahead. However, I would add a second major in something else. Why, you ask? That is because there are not a lot of jobs out there in that area. In fact, the only one I can really think of would be a professor teaching gender studies. Faculty positions generally require a master's or PhD to even get, so you need something to get you in the door, so to speak.

[ua_guy]

I am of the belief that it has a low ROI. What value does it generate?

1. Education isn’t just about money. The pursuit of knowledge and understanding doesn’t always pay handsomely. That said, I agree with paying back costs for a degree and for many jobs the actual subject of the degree doesn’t matter, just that one completed a degree. It says something about commitment and work ethic. A degree is still worth obtaining.

2. Like most degrees, the job possibilities are wide upon graduation and doing a little work. Education is what comes to mind for most people, and it’s true, one could become a professor with a degree in gender studies.

How about a Director of Marketing
A licensed mental health therapist
Director of Diversity and Inclusion
One could go on to pursue a medical degree in Gender Health
Public relations
HR
Writer or Editor
Lobbyist or political activist

…and that’s just off the top of my head.

A director of D&I might make $150k+ per year

[jenn_jenn]

1. Education isn’t just about money. The pursuit of knowledge and understanding doesn’t always pay handsomely. That said, I agree with paying back costs for a degree and for many jobs the actual subject of the degree doesn’t matter, just that one completed a degree. It says something about commitment and work ethic. A degree is still worth obtaining.

2. Like most degrees, the job possibilities are wide upon graduation and doing a little work. Education is what comes to mind for most people, and it’s true, one could become a professor with a degree in gender studies.

How about a Director of Marketing
A licensed mental health therapist
Director of Diversity and Inclusion
One could go on to pursue a medical degree in Gender Health
Public relations
HR
Writer or Editor
Lobbyist or political activist

…and that’s just off the top of my head.

A director of D&I might make $150k+ per year

I work with Directors of D&I that make $200k/yr and they’re amazing. They’re also the exception and not the rule.

If you are having to take out debt to pay for college it is worth considering what your career prospects are once you graduate. The pursuit of knowledge is admirable but college is expensive. If it’s just for the pursuit of knowledge, there are much more inexpensive options.
________________________________

I was disappointed to see the student debt forgiveness even though I’m happy for the individuals who will benefit. The positive economic impact is a bandaid solution. There’s only very minimal steps being taken to address what contributed to this student loan crisis in the first place.

On a broader and more qualitative scale, our culture keeps going farther away from personal accountability. It’s sad to see.

[rennigade]

Hard times make hard people
hard people make easy times

Easy times make weak people

WHat phase are we in now? Nuff said
the most important thing for people to gain from this is you never have to hold up your end of the bargain when it comes to contracts. Contracts are fake and have no meaning.

Most of us on this forum have gone through life the wrong way. Most of us want to pay off our debt, we want to save and we want to live below our means. If you fit that bill like myself, youre a sucker. We took the hard way out. Shame on us.