Trump just laid out a pretty radical student debt plan

[Sanguine]

What’s remarkable about Trump’s proposal is it flies in the face of the fiscal conservatism that’s supposed to define the Republican Party.

[Frank Cannon]

This, like his Ivankacare, is going nowhere

Ya think that until you remember that Donny said the way to fix the deficit is to spend like crazy and then default. This is part of the master plan.

[Cripplecreek]

Only one small problem with forgiving loans.

The money is still owed and someone needs to pay it.

Kind of like all those housing loans people got then didn't pay. The banks still got their money in the end but not from the people they loaned the money to.

[LMAO]

Ya think that until you remember that Donny said the way to fix the deficit is to spend like crazy and then default. This is part of the master plan.

But this is legislation that would have to be voted on by Congress and it's highly unlikely it's going to happen with the make up of the current Congress. 

Even over the threats of Trump's supporters threatening conservative members of Congress to primary them for not going along with this. Just not happening

[Frank Cannon]

But this is legislation that would have to be voted on by Congress and it's highly unlikely it's going to happen with the make up of the current Congress. 

Even over the threats of Trump's supporters threatening conservative members of Congress to primary them for not going along with this. Just not happening

I like your positive attitude......which I don't have.

[Victoria33]

@Frank Cannon

My deceased sister-in-law, was still paying for student debt at age 60.  She was a counselor at a women's center for many years and still paying on the student loan.  She had said she was concerned what would happen after she retired, as the govn. would automatically take it out of her social security check.

She died last year, 2015.  She had no husband and no children so the govn. couldn't go after family to pay the remaining debt.  I suppose dying would release one from student debt if one really wanted to get rid of the debt.   

[Night Hides Not]

Only one small problem with forgiving loans.

The money is still owed and someone needs to pay it.

Kind of like all those housing loans people got then didn't pay. The banks still got their money in the end but not from the people they loaned the money to.

There's also the issue of taxable income on forgiven debt. Current tax law would have to be rewritten to eliminate it. That, of course, would raise the unfairness issue, i.e. why that debt and not all unforgiven debt.

[Cripplecreek]

There's also the issue of taxable income on forgiven debt. Current tax law would have to be rewritten to eliminate it. That, of course, would raise the unfairness issue, i.e. why that debt and not all unforgiven debt.

Also there's the fact that this Trump plan doesn't address the causes. Things like wildly overpaid faculty and staff, overpriced textbooks, overpriced housing etc. Then there is the foolish attitude that all community colleges must provide 4 year degrees and all kids must get 4 year degrees and become white collar workers.

Hillsdale college is actually relatively inexpensive. They're a pretty specialized liberal arts school but they don't accept any student with a check and they accept no students with a taxpayer written check.

[Oceander]

Ya think that until you remember that Donny said the way to fix the deficit is to spend like crazy and then default. This is part of the master plan.

Good to see somebody gets it.  Then Trump, along with the other liberals, will leave the mess for the republicans to try and clean up.

[jmyrlefuller]

Students and Parents should make better decisions taking on debt for a possibility of a career that doesn't justify the expense.

As a tax payer, I should not be required to pay for their irresponsible decisions in taking on too much debt.  It wasn't forced on them.  They chose it.

Then blame the universities for jacking up the cost of a college education from what was once reasonable to the ridiculously high prices we see today.

And in many cases, considering the gross credential inflation in the human resources department effectively demanding college degrees for even mail room jobs, and paying dropout wages for those jobs, it IS forced upon them.

[thackney]

Then blame the universities for jacking up the cost of a college education from what was once reasonable to the ridiculously high prices we see today.

And in many cases, considering the gross credential inflation in the human resources department effectively demanding college degrees for even mail room jobs, and paying dropout wages for those jobs, it IS forced upon them.

I don't blame the seller for pricing their product at what the market would support.

I do blame government subsidy of that product for contributing to the market distortion.

[txradioguy]

“Students should not be asked to pay more on the debt than they can afford,” Trump said. “And the debt should not be an albatross around their necks for the rest of their lives.”

Hmm 

That sounds almost exactly like this:

It is insane and counter-productive to the best interests of our country and our future, that hundreds of thousands of bright young people cannot afford to go to college, and that millions of others leave school with a mountain of debt that burdens them for decades. That shortsighted path to the future must end.

https://berniesanders.com/issues/its-time-to-make-college-tuition-free-and-debt-free/

[Bunny Watson]

Then blame the universities for jacking up the cost of a college education from what was once reasonable to the ridiculously high prices we see today.

And in many cases, considering the gross credential inflation in the human resources department effectively demanding college degrees for even mail room jobs, and paying dropout wages for those jobs, it IS forced upon them.

There is some truth to this. Also, reducing the regulatory burden colleges and universities are subjected to would go a long way towards lowering costs. The amount of money each school spends on compliance issues, and the absurd growth of bureaucrats in academia has hurt everyone. Easing up on Title IX alone might help.

[Bunny Watson]

This is a quick and dirty comparison of real dollar costs for tuition/fees/room and board over the years: https://trends.collegeboard.org/college-pricing/figures-tables/tuition-and-fees-and-room-and-board-over-time-1976-77_2016-17-selected-years


That's bad.

[thackney]

This is a quick and dirty comparison of real dollar costs for tuition/fees/room and board over the years: https://trends.collegeboard.org/college-pricing/figures-tables/tuition-and-fees-and-room-and-board-over-time-1976-77_2016-17-selected-years

That's bad.

I would like to see the same chart include columns for the amount of federal aid and federally backed loans.

[Bunny Watson]

I would like to see the same chart include columns for the amount of federal aid and federally backed loans.

Yeah, that would be interesting. I believe HW Bush massively increased the student loan program in the early 90s. I wonder what happened in the mid-80s that caused the large bump there.

[rodamala]

Looking at the student population these days, most of them do not belong in college. They are whiny little crybabies with no critical thinking skills who are brainwashed by the leftist professors. They are not getting an education. Not money well spent.

Federal student loan programs are nothing more than the subsidization of academia.  In his farewell address, Ike warned of the military-industrial complex. Federal student loans are no different than a big fat no-bid contract to a military hardware manufacturer.  The Universities "get theirs", at our expense, and Pumpkin Spice Latte sipping little leftists are cranked out of these reeducation camps by the MILLIONS.

Truth is, 70-85% of these precious snowflake enrolled in college should be picking my fruit and digging my ditches.

[rodamala]

My nephew who was raised by 2 very liberal parents (1 of them is the son of 2 college professors) has made a very conservative decision. He walked away from a beginning education that would have led him to be a doctor and a mountain of debt. At 22 years old he;s running a UPS store with an intent to buy in 5 years and he, myself, and my uncle are planning to start a small scale distribution/shipping business from my garage.

My nephew says he felt pressured into medicine by my sis and brother in  law and would be starting a new career 7 figures in debt which was a major source of stress. Now he's making some $50,000 per year starting out and will make considerably more in the future minus that kind of debt.

@Cripplecreek

My old man sent me something this weekend, and it deserves to be posted in response to your post:


http://www.youtube.com/watch?v=CVEuPmVAb8o

[bolobaby]

Hey - can I "just get on with my life" if I pay my mortgage for 15 years? Who cares if I took out a 30 year loan and am obligated to it. It's a big burden! Plus, it's more than 12.5% of my income! I need a loan modification and nullification of the contract at 15 years!

Sheesh.

[geronl]

TRUMP takes control of the Free Stuff Army

[thackney]

@Cripplecreek

My old man sent me something this weekend, and it deserves to be posted in response to your post:


http://www.youtube.com/watch?v=CVEuPmVAb8o

The more I have learned of Mike Rowe's Foundation and his efforts along those lines, the more impressed I have become of him.

http://www.ted.com/talks/mike_rowe_celebrates_dirty_jobs/transcript?language=en

http://profoundlydisconnected.com/foundation/

The mikeroweWORKS Foundation is a 501(c)(3) public charity that rewards people with a passion to get trained for skilled jobs that actually exist. As CEO of the Foundation, Mike Rowe spends a significant amount of time speaking about the country’s dysfunctional relationship with work, highlighting the widening skills gap, and challenging the persistent belief that a four-year degree is automatically the best path for the most people.

Through its scholarship programs, including the Work Ethic Scholarship Program, the Foundation provides financial assistance to qualified individuals with a desire to learn a skill that is in demand. The Foundation has been instrumental in granting more than $3 million in education for trade schools across the country.

[Bunny Watson]

The more I have learned of Mike Rowe's Foundation and his efforts along those lines, the more impressed I have become of him.

http://www.ted.com/talks/mike_rowe_celebrates_dirty_jobs/transcript?language=en

http://profoundlydisconnected.com/foundation/

The mikeroweWORKS Foundation is a 501(c)(3) public charity that rewards people with a passion to get trained for skilled jobs that actually exist. As CEO of the Foundation, Mike Rowe spends a significant amount of time speaking about the country’s dysfunctional relationship with work, highlighting the widening skills gap, and challenging the persistent belief that a four-year degree is automatically the best path for the most people.

Through its scholarship programs, including the Work Ethic Scholarship Program, the Foundation provides financial assistance to qualified individuals with a desire to learn a skill that is in demand. The Foundation has been instrumental in granting more than $3 million in education for trade schools across the country.

He's also a pretty funny guy. I've listened to a few of his Facebook posts and podcasts. I have a lot of respect for him.

[Cripplecreek]

@Cripplecreek

My old man sent me something this weekend, and it deserves to be posted in response to your post:


http://www.youtube.com/watch?v=CVEuPmVAb8o

Yup. Mike Rowe comes up often in conversations with my nephew.

Rowe did some videos for the Michigan Works program a while back encouraging people to look at manual labor and skilled trade jobs. In one they showed foundry workers who are making 80 grand or more. My new neighbor is a garbageman who probably makes at least 40 grand per year.

[RoosGirl]

Yup. Mike Rowe comes up often in conversations with my nephew.

Rowe did some videos for the Michigan Works program a while back encouraging people to look at manual labor and skilled trade jobs. In one they showed foundry workers who are making 80 grand or more. My new neighbor is a garbageman who probably makes at least 40 grand per year.

In my county all garbage and recycle pick up is done by a one man truck.  The driver controls an arm that swing over, picks up the cans and empties it into the top of the garbage truck and then sets the can back down.  And to force us into recycling (which is picked up in the same way) the garbage is only picked up once a week now.  When we got notice that this was to be the new system for garbage pick up I felt bad for the two guys on the truck (beside the driver) that I figured would soon be out of a job.

[Fantom]

Just apply bankruptcy laws to student loans. That would solve two problems.

First, those with crushing debt would find the legal relief every other contracted debt is covered by. Two, it would stop the flow of money that is inflating that debt to start with.

Maybe we should rethink higher ed. If you pay your own way,nothing changes. However, instead of student loans you can go for free until graduation. Then you pay 10% of your income from any job your education provided for say 30 years.

The professors who taught you get paid from this. I imagine STEM/Bussiness Professors would get paid well. Liberal arts nutters... maybe not so much.

Heck, would likely return University to Education instead of indoctrination.