cancelling student loans

[rennigade]

I also do not want the student loan forgiveness unless it's tied to criteria. I am all for tying say year for year payment for working for habitat for humanity, americorp, or some other legitimate non-profit. If they qualify even red cross or military if you were to sign up allowing those jobs to "pay" your student loans I think would be totally reasonable.

I can get behind this. The federal government has some sort of incentive that they will pay $10k or something on student loan if you stay for a certain amount of time. But that would never be enough. People do not want to do anything and have their debts wiped. It's flat out entitlement.

[SwitchBlade]

It seems that student loans will continue to rise and are very unlikely to be shut down. Although banks are not the most reliable customers, they are the most common, so they are profitable for the banking system. These loans are also an opportunity for students to earn their first capital or invest in investments. I am actively researching this topic, and if you also need advice, you may find moneyunder30.com useful. I think the most profitable investment for young and inexperienced students is studying finance. Having gained the basic knowledge, you can then invest in cryptocurrency.

[LivingAlmostLarge]

I can get behind this. The federal government has some sort of incentive that they will pay $10k or something on student loan if you stay for a certain amount of time. But that would never be enough. People do not want to do anything and have their debts wiped. It's flat out entitlement.

Is it any different than the PPP loans

[disneysteve]

Is it any different than the PPP loans

PPP loans were good in theory, and I know a number of business that were able to stay afloat because of them.

My daughter's job got a PPP loan which enabled them to pay the staff for most of the time that they were shut down due to COVID. My old practice got one which let him pay the staff when there was no money coming in. Our synagogue got one and was able to pay the staff when the building was shut down.

Of course there was abuse of the program with people getting them who did not need the money at all, but that doesn't negate the benefit they provided. If not for the PPP loans, there would have been millions more collecting unemployment, and probably thousands of failed businesses.

[LivingAlmostLarge]

I just feel like the cancelling student debt like PPP loans is some take advantage and others it actually helps

[Snicks]

Canceling loans doesn't address the underlying issue. And what about next year, a whole new crop of people are going to graduate with debt and the next year and the next year. So, gives a bit of relief to some at a huge cost without addressing the factors behind college costs. So, I think it's just a bandaid on a hemorrhage.

[LivingAlmostLarge]

Canceling loans doesn't address the underlying issue. And what about next year, a whole new crop of people are going to graduate with debt and the next year and the next year. So, gives a bit of relief to some at a huge cost without addressing the factors behind college costs. So, I think it's just a bandaid on a hemorrhage.

this is a huge problem. The underlying costs of college!

[Snicks]

Colleges have been far too insulated from the Market. The market has been demanding different skils and knowledge and we are still thinking archeology is a viable degree. I mean yes we need some of every degree but they are overselling what isn't valued in the market . And, if they would have had to deal with market pressures, they would have easily streamlined many degrees to be far more useful and to be done in less time without useless courses.