Americans who worked hard to pay off student loans react to Biden's massive college d

PostmodernProphet said:
its a two pronged test.......there are obviously non college educated people who pay taxes.......reminds me of a time I said to my daughter that I didn't want her to end up marrying a garbage collector.......she responded "my friend down the street is the daughter of a garbage collector".......I replied, "no.....he owns a garbage service......he HIRES garbage collectors who earn minimum wage".......
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hmmm, yet i'm an IT professional who does not own his own IT company..........yet I pay taxes..............:rolleyes:
 
SmarterthanYou said:
given that ideology, don't you think that people should be proud to pay off their debts, like college loans?
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You do not understand that the way the wealthy in America keep themselves on top, generationally, is by erecting barriers to prevent breaking through the class structure, student debt for poor people is one of those barriers.
 
Lionfish said:
John graduates high school and takes out a loan for 50,000$ to start his plumbing company. He buys plenty of expensive tools, A work truck and learns a trade.
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It is interesting you put learning a trade as the last stage of entering plumbing. It is actually the first stage. The first stage is John takes out a student loan to learn a trade. You like to pretend student loans are only for 4 year degrees, but they are also for trades training, like being a plumber.

But what about the other loans John takes?

The loan to start a business would either be to a limited liability corporation, so not John's problem at all, or to a S Corp where he only has limited liability. Even if he has limited liability, bankruptcy easily discharges it. Business debts are not like student loans, which do not get discharged in bankruptcy.
 
Darker Soul said:
This benefits my niece, with a PhD in Spanish Literature, who married a licensed psychologist from Argentina who then emigrated to the US where his license is not valid. In other words, people who made poor decisions about their careers and how to easily leverage their God-given talents.
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Spanish might well be the easiest area to get tenure in. There are a huge number of education jobs for someone with a PHD in Spanish Literature. Becoming a licensed psychologist in America is not hard, if you have the educational background. Speaking fluent Spanish makes it easy to find a job. He could easily find a well paying job while practicing for license.

If your niece and her husband are telling you they cannot jobs they are misinforming you. Those two are well placed to get jobs.
 
ExpressLane said:
And I paid every loan I ever signed on the bottom line for and promised to pay. The bottom line is if YOU sign on a note and promise to pay your loan back then don't expect your neighbor to pay it back for you because maybe they would like to spend the money they earned instead of you spending it. That way your neighbor can contribute to the economy by spending. See how that works?
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Baby boomers and the early Gen Xers had the privilege and financial advantage of going to college when states were generally providing more support to public universities, and tuitions were relatively affordable.

Canceling 10k in debt is functionally equivalent to bringing the cost of college for millennials down to the level baby boomers enjoyed.
 
Cypress said:
Baby boomers and the early Gen Xers had the privilege and financial advantage of going to college when states were generally providing more support to public universities, and tuitions were relatively affordable.

Canceling some debt is functionally equivalent to bringing the cost of college for millennials down to the level baby boomers enjoyed.
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I went to a private college. I paid significantly more the UT, A&M etc. I paid my loans off. I didn't have my neighbors pay my loans off for me. Colleges like Yale, Harvard, and UT all have huge endowments but they still raise tuition. I predict tuition just went up another $10 k for 4 years. Colleges have raised their tuition 189% faster than inflation. Let colleges refund each student $10K. Or let students refuse to go to colleges that don't control their tuition rates.

I have always said the US should fund a FREE online four year university and require that any college that accepts student loans also accept credits from the FREE online government college. Of course that would be for freshman and sophomore classes. So a motivated student could take 4 years of courses from anywhere in the country for free. Or they could take two years for free and then transfer to another 4 year college to graduate. That could reduce the cost of college to a 0 to 50%.
 
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ExpressLane said:
I went to a private college. I paid significantly more the UT, A&M etc. I paid my loans off. I didn't have my neighbors pay my loans off for me. Colleges like Yale, Harvard, and UT all have huge endowments but they still raise tuition. I predict tuition just went up another $10 k for 4 years. Colleges have raised their tuition 189% faster than inflation. Let colleges refund each student $10K. Or let students refuse to go to colleges that don't control their tuition rates.

I have always said the US should fund a FREE online four year university and require that any college that accepts student loans also accept credits from the FREE online government college. Of course that would be for freshman and sophomore classes. So a motivated student could take 4 years of courses from anywhere in the country for free. Or they could take two years for free and then transfer to another 4 year college to graduate. That could reduce the cost of college to a 0 to 50%.
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Your choice to go to a private college.

No one put a gun to your head.

The top tier public universities are equal in academics to the private colleges.

Most people go to public institutions of higher education. The tuition at these schools was substantially more affordable for the baby boomer generation.

I consider cancelling 10k in debt as just the functional equivalent to reducing the cost of higher education for millennials to be on par with what baby boomers enjoyed.
 
ExpressLane said:
I went to a private college. I paid significantly more the UT, A&M etc. I paid my loans off. I didn't have my neighbors pay my loans off for me. Colleges like Yale, Harvard, and UT all have huge endowments but they still raise tuition. I predict tuition just went up another $10 k for 4 years. Colleges have raised their tuition 189% faster than inflation. Let colleges refund each student $10K. Or let students refuse to go to colleges that don't control their tuition rates.

I have always said the US should fund a FREE online four year university and require that any college that accepts student loans also accept credits from the FREE online government college. Of course that would be for freshman and sophomore classes. So a motivated student could take 4 years of courses from anywhere in the country for free. Or they could take two years for free and then transfer to another 4 year college to graduate. That could reduce the cost of college to a 0 to 50%.
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"But the school reports that about 70% of Harvard students receive some form of financial aid, and claims that students whose parents make less than $65,000 are not expected to contribute any funds, and that “90% of American families would pay the same or less to send their children to Harvard as they would a state school.”


About 55% of Harvard students receive need-based scholarship aid with average grant totals around $53,000.
The school states that families with students who receive scholarship funds pay an average of $12,000 towards their education per year and that students from families that earn between $65,000 and $150,000 typically contribute between 0% to 10% of their income towards the cost of attending Harvard each year."
 
Walt said:
Spanish might well be the easiest area to get tenure in. There are a huge number of education jobs for someone with a PHD in Spanish Literature. Becoming a licensed psychologist in America is not hard, if you have the educational background. Speaking fluent Spanish makes it easy to find a job. He could easily find a well paying job while practicing for license.

If your niece and her husband are telling you they cannot jobs they are misinforming you. Those two are well placed to get jobs.
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Like all good libs, they are irresponsible and lazy.
 
Flash said:
"But the school reports that about 70% of Harvard students receive some form of financial aid, and claims that students whose parents make less than $65,000 are not expected to contribute any funds, and that “90% of American families would pay the same or less to send their children to Harvard as they would a state school.”


About 55% of Harvard students receive need-based scholarship aid with average grant totals around $53,000.
The school states that families with students who receive scholarship funds pay an average of $12,000 towards their education per year and that students from families that earn between $65,000 and $150,000 typically contribute between 0% to 10% of their income towards the cost of attending Harvard each year."
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Harvard has a $53.2 billion endowment. They can afford to reduce the price of their tuition for everyone.;)
https://www.vox.com/xpress/2014/8/2...d-princeton-could-afford-to-make-tuition-free
Princeton and Yale both have even bigger endowment per student ratios than Harvard.
Yale has about $1.7 million in endowment money for every student it enrolls and an average annual return of 11 percent for the past 10 years. Princeton has $2.3 million for each student and a rate of return around 10 percent. Stanford, like Harvard, has $1.2 million for each student and an annualized rate of return of 10 percent.
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SmarterthanYou said:
hmmm, yet i'm an IT professional who does not own his own IT company..........yet I pay taxes..............:rolleyes:
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odd.....you're an ITT professional who doesn't understand what '"there are obviously non college educated people who pay taxes." means......oh well, not my problem.......you probably just thought it would be fun to feel insulted today and chose me to play with......
 
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