The answer is to let it be discharged via bankruptcy like all other debt. I don't agree with just forgiving it, I mean if we go down that road what else can we start just forgiving? Mortgages, auto loans, medical? Not to mention it's a slap in the face to people who've paid their student loan debts.
Well, my understanding is that they did away with being able to declare bankruptcy for student loans because the fear (whether real or not) that students would accumulate massive loans and then declare bankruptcy right out of school. If you allowed current debt holders to easily declare bankruptcy there would be a massive amount of bankruptcies that just amount to forgiveness anyway. The tax payer is still going to be left on the hook. The negatives that come along with bankruptcy will be far outweighed by the positives associated with getting rid of the debt for a huge % of borrowers.
Most folks would not believe him because he has lied about everything else. Health Care The Wall (when is Mexico sending that check?) Middle class tax cut. That's what I think.
You are correct. They did away with student loan being discharged in bankruptcy because people were beginning to use it as a financial strategy. There were a number of doctors and lawyers that were running up huge debt and then getting it discharged. However, there is a ground swell to allow discharge of student loans through bankruptcy if the person filing can prove an undue hardship. In fact there was recently a very important ruling where a bankruptcy judge ruled that student loan debt is usury in nature and there for ruled a man could discharge $200,000 in student loan debt. The case is on appeal and we will have to wait and see what happens.
I don't think that's the case .... I believe that those who are extending those loans would be much more selective in who those loans are given to .... Honestly I'm against this whole college debt forgiveness mess - those people bought that education. They entered into the contract to repay that debt in the future. I believe the solution to this whole mess is reducing / eliminating the requirement / demand by businesses for a college education to get all these mid level jobs. Somehow these companies believe getting a college educated employee equates to a better employee or that they spend less time training them to do their actual jobs and that's just not factual. There are jobs that require continued education and there are jobs that continued education is just pointless for .... and lets be honest , most jobs its pointless.
Can you elaborate on what you believe are the mid level jobs that shouldn't require a degree and those that should?
I agree with your sentiments. The degrees that don't teach explicit technical skills such as History, English, political science etc still require students to excessively read really dense and dry material and organize and write down their thoughts on the material with analytical papers. The vast majority of people outside of a classroom setting just don't do this type of exercise of their mind. Also companies can have some form of evaluation to lean on in order see if prospective employees can complete their assigned tasks in a timely manner with competent quality with their gpa. These are all skills that companies value in non technical jobs and even technical ones.
Most of them shouldn't require a degree .... police , fire fighters , office / clerical / data entry , sales , advertising , marketing .... The list goes on and on. They don't require anyone to be proficient to a college level in readin ritin or rithmatic much less history , literature or a science. Ask the average person when was the last time they did anything more complex than simple math .... I use this as an example after being out of school for several decades and never really doing more than addition / subtraction , occasional division and simple fractions in daily life then taking up a hobby that requires some complex math .... thinking DAMN I haven't done this in forever and having to relearn a bunch of stuff I had forgotten. I went thru my working life never using any of that college math .... nor the math I learned as an apprentice union fitter which is more complicated than any college math class I ever sat thru. Here's another issue - To "graduate" you have to take a bunch of courses unrelated to your degree / field .... seems pointless to me , especially when the person has to pay for those unrelated / irrelevant classes. It seems like a money grab by those for profit schools ....
That doesn't necessarily make them more prepared for the job , better at their job or a better employee ....
I tend to disagree and employers obviously disagree as well. Continued education beyond high school teaches a lot of important skills and critical thinking. Having a highly educated work force is a strong benefit. It is also a strong good for society in general. I do believe the cost associated with it are out of control and their are a variety of reasons for that, many of which can be fixed.
Well employers who abide by the will of the shareholders to maximize profits believe it does. For the examples you give, I would say law enforcement definitely would benefit from their employment pool having more education. College level reading and writing is a brain exercise that most people don't do outside a classroom environment. It makes people better critical thinkers with more self-awareness.
I'm not against a highly educated society / workforce. But many companies are asking people to college for 4 years to answer the ****ing phone or other simple / repetitive tasks. That's .... kinda silly and puts people in the position of going to college , acquiring all that debt that takes a lifetime to repay to get a decent job Or forgo college and have a hard time getting a decent paying job. The only person making out here is the guy writing the loan - with the gubmint backing it. What you guys are telling me is that .... literally everyone needs these skills. So why aren't we teaching it in public schools ? It sure seems like our public education system in failing us if we have to go beyond it to get a half decent job. Maybe the problem is what we are being taught , or not being taught in the public school system. If we are ill prepared for a job after 13 years in school .... something's wrong. A whole bunch of worthless degrees .... kinda like mine as I went a completely different direction after college.
We are teaching it in public schools just the earlier forms of those skillsets suitable for 3-17 year olds. And that's the point, it's beneficial for all of society to treat college as just another extension of k-12 that every citizen should have. People would be more rational thinkers especially when they go to the voting booths. Society would just function better in the long run. Everyone could benefit from reading really dense material and writing about it in depth. It makes people better critical thinkers.
Not every kid is bright or has a good environment to learn. People generally treat school as a daycare and don't pay too much attention on what's taught (besides sex and evolution). The other thing is that we prioritize sports way more than what goes into books. So as long as a student gets a mediocre passing great, they get dumped into the next year as some one else's problem. The education system is broken when it comes to today's needs in the workforce, and it's our fault. It was largely set up in the 50s and hasn't been reformed into meeting current day needs. Approaches for this is all over the place and there's no real vision to change it.
I think the idea or similar ideas has merit. Employers culture sometime get in the way - culture of hiring college grad isn’t necessarily the smart thing to do but they might all tend to do it because everyone else is. The misalignment of skill set can and do results in less happy employee, higher turnover, higher wages, higher college cost, and higher unemployment rate among non college grads. Some of those factors (higher unemployment among less formally educated, higher college cost, less happy employees) also have society costs.
Think about this - You are complaining about your debt at $70k a year starting out .... while advocating for $25k-$50k jobs , entry level jobs have literally the same education requirements .... Lets require the janitor to have 4 years of college while we're at it.
