I see a lot on TV lately about forgiving student loans.  Maybe I am in the minority, but I am against it.  
 

When I was young, my parents could not afford much, so I went to a local college and worked. Other kids who could not afford college went to vocational school (and most of them did better financially in life than those that went to college). The mister and I started saving when our kids were born for their college, and we were fortunate enough to afford the pay for their college when the time came, but it did take some sacrifice  on our part to make it happen.
 

I was raised to believe you should live within your means and not take on debt you cannot pay off.  It bothers me that people have taken on debt that will simply be erased.  What happened to personal responsibility?  What is the reward for those of us who went to college and worked our way through?

I have no problem with zero interest rates to help people pay off their college loans, but firmly believe they should be responsible for paying them.  

One thing I never hear anyone talk about on this issue is suppose all student loan debts are forgiven.  What happens in four years when a gazillion students have new student loan debts, are those forgiven too?  In other words, what we are really saying if we forgive student loan debt is all college is free from now on and we know that isn't happening.  

Like Beechwoodfan, I am fine with zero interest, income based repayment programs but the real issue here is out of control education costs.

People pay on student loans for DECADES and will still owe more than they originally borrowed. It is a gigantic scam. 

Pay off everyone's student loans. I don't care that people who went to college 30 years ago had to pay $1200 to go to school. 

And FWIW, I paid mine off... 

43 minutes ago, theguru said:

One thing I never hear anyone talk about on this issue is suppose all student loan debts are forgiven.  What happens in four years when a gazillion students have new student loan debts, are those forgiven too?  In other words, what we are really saying if we forgive student loan debt is all college is free from now on and we know that isn't happening.  

Like Beechwoodfan, I am fine with zero interest, income based repayment programs but the real issue here is out of control education costs.

This.

I'm a distant relative to an individual that is high ranking in a KY university and what he makes vs what work he does is asinine. Cut positions/decrease pay for positions like this and we can start taking tuition cost in the right direction. 

Mike Rowe is one of my absolute favorite television personalities, and I think a lot of his commentary on the world is spot on.





The quote in the picture above isn't necessarily the one I'm all that interested in though (although I 100% agree with it.) Rowe, who has started his own charitable organization now to give scholarships to trade schools, was interviewed back in May 2021 by former 20/20 investigative reporter John Stossel about student loan forgiveness. I felt like he absolutely hit the nail on the head about the idea of forgiving student loans.

"I know guys who worked hard to get a construction operation running. Some had to take out a loan on a big old diesel truck. Why would we forgive the cost of a degree but not the cost of a lease payment?

For some reason, we think a tool that looks like a diploma is somehow more important than that big piece of metal in the driveway that allows the guy to build homes that you are in."

Canceling Student Debt Would Be an Insult to Trade Workers

1 minute ago, ChickenWyngz said:

This.

I'm a distant relative to an individual that is high ranking in a KY university and what he makes vs what work he does is asinine. Cut positions/decrease pay for positions like this and we can start taking tuition cost in the right direction. 

True, the problem is the cost.

6 minutes ago, Colonels_Wear_Blue said:

Mike Rowe is one of my absolute favorite television personalities, and I think a lot of his commentary on the world is spot on.





The quote in the picture above isn't necessarily the one I'm all that interested in though (although I 100% agree with it.) Rowe, who has started his own charitable organization now to give scholarships to trade schools, was interviewed back in May 2021 by former 20/20 investigative reporter John Stossel about student loan forgiveness. I felt like he absolutely hit the nail on the head about the idea of forgiving student loans.

"I know guys who worked hard to get a construction operation running. Some had to take out a loan on a big old diesel truck. Why would we forgive the cost of a degree but not the cost of a lease payment?

For some reason, we think a tool that looks like a diploma is somehow more important than that big piece of metal in the driveway that allows the guy to build homes that you are in."

Canceling Student Debt Would Be an Insult to Trade Workers

Taking a loan on a truck to start a business isn't the same as taking a loan to go to college. 

If he wants to make the argument that loans for trade schools should also be cancelled, then I agree. But that argument is not the same. 

1 minute ago, TheDeuce said:

Taking a loan on a truck to start a business isn't the same as taking a loan to go to college. 

If he wants to make the argument that loans for trade schools should also be cancelled, then I agree. But that argument is not the same. 

Both of those loans enable you to obtain something to move forward in your career of choice, right?

Also, he doesn't mention it in that specific interview that I quoted above, but Mike Rowe talks about being against all student loan forgiveness - as am I.

Unless you take out a private loan from a bank, student loans are not available for trade schools. They are available for some 2-year associates degrees out there like IT support, database management, and so on...but if you want to go to welding school  or mechanic school and you need a loan, you have to go to a plain old bank and qualify for a private student loan.

20 minutes ago, Colonels_Wear_Blue said:

Mike Rowe is one of my absolute favorite television personalities, and I think a lot of his commentary on the world is spot on.





The quote in the picture above isn't necessarily the one I'm all that interested in though (although I 100% agree with it.) Rowe, who has started his own charitable organization now to give scholarships to trade schools, was interviewed back in May 2021 by former 20/20 investigative reporter John Stossel about student loan forgiveness. I felt like he absolutely hit the nail on the head about the idea of forgiving student loans.

"I know guys who worked hard to get a construction operation running. Some had to take out a loan on a big old diesel truck. Why would we forgive the cost of a degree but not the cost of a lease payment?

For some reason, we think a tool that looks like a diploma is somehow more important than that big piece of metal in the driveway that allows the guy to build homes that you are in."

Canceling Student Debt Would Be an Insult to Trade Workers

I love Mike Rowe too and I have always been a fan of John Stossel. 

25 minutes ago, TheDeuce said:

People pay on student loans for DECADES and will still owe more than they originally borrowed. It is a gigantic scam. 

Pay off everyone's student loans. I don't care that people who went to college 30 years ago had to pay $1200 to go to school. 

I agree it is a scam which is why I am for no interest and income based payments.

Are you saying you are for everyone not having to pay their student loans back?  And if so, what do you propose moving forward on how college should be paid for?

5 minutes ago, Colonels_Wear_Blue said:

Both of those loans enable you to obtain something to move forward in your career of choice, right?

It's not the same. 

An equivalent argument would be student loans for a traditional school and student loans for a trade school.

The fact "traditional student loans" aren't available for trade schools is a joke and a completely separate issue. They are every bit as important, if not more. 

I just saw a report that something less than 50k per year in "forgiveness" is being considered with no additional detail. 

20 minutes ago, theguru said:

I agree it is a scam which is why I am for no interest and income based payments.

Are you saying you are for everyone not having to pay their student loans back?  And if so, what do you propose moving forward on how college should be paid for?

Yes, I 100% believe everyone's student loans should be paid off. As a country, we waste money on things all the time, lets put a fraction of those funds to good use. 

Moving forward, the solutions are 1.) Affordable Education and 2.) 0% interest loans, when loans are necessary.