First, I got the yeas and nays backwards. Tester and Manchin voted to cancel Biden’s loan holiday. That meant they voted “yea” on this resolution.
Then, the student loan issue is part of the debt cap agreement. It also ends Biden’s loan holiday. But the bill is binding, I assume the resolution isn’t.
People who voted for the debt cap bill can say that they did it in spite of the loan provision. This resolution is a stand-alone vote that highlights how they feel about that one issue. Maybe that’s why it got a vote – the Ds wanted to be clear on their positions.
Then I got confused about the difference and made the wrong comment about why it came to a vote.
Those with school loans have already gotten relief by not having to make payments nor having interest accrue for over 3 years. Employers may require college degrees for some jobs. Employers do not require people to enroll at a high-cost (out of state, private) college.
This would set a poor precedent. Personal responsibility is becoming a thing of the past. It still needs to be a component of a motivated functioning society.
That figure is based upon the assumptions that the student has received no finacial aid and has had no earnings over their four years, they borrowed the full cost and repaid over a 30 year period. It is also a nominal figure unless you assume the interst rate exceeds the inflation rate by about 6%.
I would argue that using an “average cost” figure isn’t a very good rebuttal given that it includes the higher-costing institutions in its statistics and ignores costs savings that can be realized with getting an associates degree before the bachelors.
A better statistic, IMO, would be the first quartile of annual costs . . . segmented between 4 year programs and 2 year programs.
Best way to get college paid for is to be poor. That means “being independent” from parents for a year or more, then going to college as if you have no financial help from parents.
Can’t do that living with your parents.
Or, have your parents lose their jobs. No income = voila! financial aid.
I’m sure rich people have already figured this out. Hiding assets.
Another way is to go to a college close to home, take two classes per semester for 10 years, live at home, work a job. Voila!
Student debt is a red herring.
The problem is the cost of education. In what world does it make sense for a society to place barriers around education? That’s a ‘stop hitting yourself’ level of absurdness.
If education was inexpensive, then the problem of debt goes away. People can afford to take on a reasonable level of debt when they go to school.
Even in Canada, where IMO pretty much everyone can manage to get through school somehow, the price of education is still ‘too damn high’.
Yep. Between coop and student loans and the cost of tuition, most everyone should be able to get through school at some level of ramen diet, and be able to pay back the debt after graduation.
The $10k forgiveness would have benefitted both my kids. The elder will default on her student loan unless I pay it. She has $0 income. She has applied and been approved for disability twice via court hearings, and then told to come back for another hearing. She opted not to last tine due to her mental health. I really don’t know what happens if I don’t pay it on her behalf. She can request forbearance but I don’t think she can get it forever.
Eh, it’s OK. It’s just better than all the other countries.
In Ontario, there’s a federal loan program and a provincial loan program. Based on income/parent’s income and assets, they give students some blend of loans and grants. IIRC, within 6 months of leaving/finishing school you get put on a loan repayment program ;the federal portion is interest free the provincial portion has like 6% interest. Something like that.
End result, you can go to school even if you’re poor, as long as you live cheaply, and take on a non-debillitating amount of debt.
Do you mean the cost of running colleges is too high?
If so, how can they run more efficiently?
I’m interested in changing the mindset that a four year degree is a necessary condition for a “decent” job. That’s another approach to cutting the cost of education.
Nope. I’ve no idea if it’s high or not. It’s just something that should be heavily subsidised by the gov’t.
We do this with schooling up to about age 18. Then I guess you age out.
In Canada, there’s some universities that are marketing like crazy to international students who have no cap on tuition costs. I suspect (but don’t know) that that income is heavily subsidizing domestic students. e.g. uwaterloo has some faculties with 50% international student enrollment, and some tuition for them is like $70k a year. vs. domestic students who would pay roughly $5-$6k for a term.
