Kolek planning to go pro
http://nymag.com/daily/intelligencer/2018/02/lets-cancel-everyones-student-debt-for-the-economys-sake.html
If we agree what student debt is holding back the economy ... then the cause is tuition is too high.How about we forcibly cut everyone's salary at colleges and universities 30% in order to make it affordable and not require this much debt.This is really the same thing as canceling student debt ... forcing someone other than the student to take a loss.
Ideas like this fdrive me insane because why did we bother to do things right? My parents couldn't afford college so I worked multiple jobs and got students loans and upon graduation my wife and I paid both our loans back and planned for our son's education so he could graduate debt free, and insisted that he get a marketable degree (though we didn't need to do that, he would have done it for himself.I My wife and I made many sacrifices along the way to make those things happen. For instance I've never owned as my car a car that was built in the same decade I was driving it. I consider the story above completely unremarkable and I'm sure that vast majority of you are the same.And my reward for being a normal responsible person is to have my taxes raised so those who didn't plan ahead or voluntarily got unmarketable degrees can not repay their debt? No thank you.
I can't begin to imagine your age. Try working now and being able to afford tuition at a place like MU. Good luck. Props to you for being able to support your son. The majority of those that went to college in the 2000s and later would be unable to do the same.
Universities gouging students based on $$$ being available to anyone who can sign on the dotted line is every bit as pernicious as the mortgages predatory lenders were offering to un or under qualified folks before the real estate market crashed.
Let's cancel all credit card debt and mortgage debt while were at it! Moral hazard is a myth! Up the revolution, comrade!Universities create phony, no job, no future disciplines, charge naive young people hundreds of thousands for useless degrees. All that's left to show for it is a pile of student debt that can't be repaid. God forbid we hold the schools or students responsible for the mess that's enriched the former at the expense of the latter - instead, let's just tear up the contracts and carry on.Anyone who equates a competitive tax rate for our corporations or a slightly lower rate of confiscation of people's earned income with non payment of debts freely assumed is a total moron.
Why is the answer debt cancellation? Why are you not demanding MU (or any other university) pay your loan and/or massively cut tuition so you can afford the debt load?
The only way this idea should be considered is if debt relief (short of cancellation) goes hand in hand with cost controls for schools who accept federal financial aid.
Right. The only way it goes hand in hand is when colleges and universities are forced to limit tuition and costs.
They will limit costs when the demand for their product falls.That is what higher prices do .... except when one forgive debt to make it easier to continue to pay higher prices.Otherwise how do you “force” universities to lower tuition and costs? Limit their budget? Walker tried that and all Hell broke loose?
Canceling student loans isn't fair to all the people who realized that getting deep into debt for their education was not a good idea and made other plans.Why should someone who exhausted their savings and commuted from home to get a business degree at a state school subsidize someone who took out $200K in loans to get their PhD in Slavic Studies from an Ivy?
The federal government can require certain cost controls in return for access to federal aid, research dollars, etc. It's not going to happen.
I agree it never going to happen.So make it harder to get a loan. Then only those that can pay them back will take them out. Schools will go begging for students and cut tuition.Debt forgiveness makes everything worse.
Your posts sound an awful lot like a conservative pretending to be a dem. Tone is totally off. Do better.
My tone hasn't changed in 40ish years of voting. Parties change. Not sure how old you are, but let me give some examples.In the late 70's when my voting started, almost 50% of Democrats owned guns. Today that number is less than 25%. Back then there were numerous pro life Democrats in Congress, today there are three and one will likely be primaried out this Summer. Where I used to be on board with 90% of the platform, I'm now on board with about 65%. I still will vote Democrat, but my tone hasn't changed, the parties have changed. Democrats more liberal. Republicans more conservative. The middle is gone. Maybe it is you that needs to recognize tone and how through time parties change, but us old guys may not change with our parties but still belong to them.
I agree it never going to happen.So make it harder to get a loan. Then only those that can pay them back will take them out. Schools will go begging for students and cut tuition.
There is no realistic way to cut tuition dramatically.
There is no realistic way to cut tuition dramatically. You do what you propose and college will be a luxury for the rich. You will then be the first to say that it is poor people's fault for their situation, because they should have worked hard and got a college education, even though it was not remotely feasible for them.
Sure they can ... right now they do not need to because we find ways to create artificial demand by making it easy to get a student loan.How about different prices for different majors? Want to major in Computers or engineering? $50k/year. Want to major in English or history? $25k/year. Music or poetry? $10k/year.Right not having the same price for all means the poetry majors are subidzing the engineers.
Many schools do this already.At the University of Illinois, for example, the base undergrad in-state tuition is a bit over $12,000. For fine arts students it's $13,600, and for the engineering and business programs it's more than $17,000. Same with out-of-state tuition (though higher tuition).Extreme differences like those proposed by you would be a terrible idea.Do we really want to make STEM fields even less appealing to students, both here and those coming from abroad? Do we want to incentive majors like poetry?