Student Loan Debt

[cawacko]

So Stephanie Kelton of MMT and Bernie Sanders fame argues we should eliminate the $1.4 trillion student debt.

My question is what would eliminating current student debt do for the cost of attending college? It will eliminate today's debt but whatever the cut off line is it will start up anew right after that. The cost of college is far outpacing inflation and this will do nothing to stop it. In fact this would only encourage college's to continue to hike their rates.

However I'm open to hearing the argument on behalf of doing so.

[PostmodernProphet]

if they do they had better repay me the $45k I paid off on my kids loans......

[Sirthinksalot]

So Stephanie Kelton of MMT and Bernie Sanders fame argues eliminating the $1.4 trillion student debt total would do more to stimulate the economy than the recently passed tax cuts.

My question is what would eliminating current student debt do for the cost of attending college? It will eliminate today's debt but whatever the cut off line is it will start up anew right after that. The cost of college is far outpacing inflation and this will do nothing to stop it. In fact this would only encourage college's to continue to hike their rates.

However I'm open to hearing the argument on behalf of doing so.

If $1.4 trillion worth of student loan debt gets taken off the backs of the entitled millennial snowflakes, it has to go somewhere. Straight onto the backs of hardworking taxpayers. I'm guessing the argument that it would stimulate the economy is that those people who's debt was paid (by others) would have more disposable income. But those others (taxpayers) would have commensurately less disposable income. I don't see how that stimulates the economy. Additionally, it seems unfair to penalize everyone else for the foolish financial decisions of these people. It also stinks of a scheme to offer "free stuff" to a bunch of potential voters.

I agree with your point about such an action increasing the cost of tuition. Currently, there appears to be no pressure on colleges to keep tuition down.

[floridafan]

So Stephanie Kelton of MMT and Bernie Sanders fame argues eliminating the $1.4 trillion student debt total would do more to stimulate the economy than the recently passed tax cuts.

My question is what would eliminating current student debt do for the cost of attending college? It will eliminate today's debt but whatever the cut off line is it will start up anew right after that. The cost of college is far outpacing inflation and this will do nothing to stop it. In fact this would only encourage college's to continue to hike their rates.

However I'm open to hearing the argument on behalf of doing so.

What do the recently passed tax cuts do for the average family?

[Cancel 2018.1]

So Stephanie Kelton of MMT and Bernie Sanders fame argues eliminating the $1.4 trillion student debt total would do more to stimulate the economy than the recently passed tax cuts.

My question is what would eliminating current student debt do for the cost of attending college? It will eliminate today's debt but whatever the cut off line is it will start up anew right after that. The cost of college is far outpacing inflation and this will do nothing to stop it. In fact this would only encourage college's to continue to hike their rates.

However I'm open to hearing the argument on behalf of doing so.

Who is even talking about eliminating student loan debt these days?

[Sirthinksalot]

What do the recently passed tax cuts do for the average family?

Pretty sure I see where you're going with this. Unfortunately, I already debunked your premise in post# 3.

[tsuke]

national reveiw had an idea. basically student loan repayment in exchange for later social security benefits collection. maybe good.

[cawacko]

What do the recently passed tax cuts do for the average family?

Don't want to talk about the topic?

[floridafan]

Don't want to talk about the topic?

Student loan forgiveness will do far more for the average person or family than tax cuts ever will.

[cawacko]

If $1.4 trillion worth of student loan debt gets taken off the backs of the entitled millennial snowflakes, it has to go somewhere. Straight onto the backs of hardworking taxpayers. I'm guessing the argument that it would stimulate the economy is that those people who's debt was paid (by others) would have more disposable income. But those others (taxpayers) would have commensurately less disposable income. I don't see how that stimulates the economy. Additionally, it seems unfair to penalize everyone else for the foolish financial decisions of these people. It also stinks of a scheme to offer "free stuff" to a bunch of potential voters.

I agree with your point about such an action increasing the cost of tuition. Currently, there appears to be no pressure on colleges to keep tuition down.

That's right. 47% of student debt goes to those who were getting advanced degrees. Now just because one gets a loan doesn't necessarily mean they graduated but nonetheless we need to eliminate debt for those with Masters, MBA or JD's? Those people are set up to make real money.

[cawacko]

Student loan forgiveness will do far more for the average person or family than tax cuts ever will.

Ok. And the country?

[Sirthinksalot]

Don't want to talk about the topic?

I thought he was making the point that the former students would have more disposable income. Maybe I over estimated him.

[floridafan]

Pretty sure I see where you're going with this. Unfortunately, I already debunked your premise in post# 3.

Well sweetie pie, you had no problem with adding a trillion or two to our debt in the form of tax cuts which do little for the average family.

[cawacko]

Who is even talking about eliminating student loan debt these days?

It's not getting talked about as much because Trump is President but that doesn't mean the issue has disappeared or it won't be discussed in the 2020 election. Bernie and his people haven't gone away.

[floridafan]

Ok. And the country?

same answer