I busted my ass to pay off all my students loans within 3 years of graduation. If there was a mass loan forgiveness program, I'd flip my shit.
I worked while going to school and my partner worked 3 jobs after graduating to pay off student loans sooner. What's really egregious is the student debt racked up by folks who had no business going to college in the first place.
not if we are going to eat the difference. I guess I could go along with some sort of loan guarantee program for people to refinance, but we have that for part of it and it already costs us billions.
Anything that puts the expense on the tax payers is wrong. They voluntarily on their own took out the debt. It's their responsibility to pay it back.
I can't lie, it'd be great for me, as I have about $60,000 in student loans solely from my graduate school days (worked 3 jobs as an undergrad for no debt leaving UT). I had a tsunami of bad luck and self-inflicted issues from divorce, job loss right as the economic crisis kicked in, then later again and both times the job required me to get a degree in the field in order to get back in the market. So, shit happens, but I can definitely see the problematic concerns of a wholesale loan forgiveness program.
As long as interest rates weren't lower than inflation I don't see any immediate problems with such a program. In this situation I wouldn't see it any differently than refinancing your loans at a potentially more favorable rate. However, if you agreed to borrow money, you should have to pay it back.
My wife has about that same amount from grad school at a private university. It sucks to have to pay back such a ridiculous amount, but she signed the paperwork so its our responsibility.
Thanks, like I said, some of it was dumb decisions I made and some were things like losing your job because a new school is being built, requiring less teachers at the current school and those still working on finishing their teaching requirements got the boot first. Then, I decided to bring my future wife from Peru and navigate the immigration process. Needless to say, 2006-09 was a crazy time for me.
As Obama found out with his loan forgiveness program, it's extremely hard to figure out who's in trouble because of bad luck and having a vocation that helps people which doesn't happen to earn a lot of money to people who got there because of abject stupidity or greed. seems like there should be some professions that have access to better rates though.
if it comes down to tax payers being responsible for the debt instead of private entities that took on the risk, sure. But I don't know why we'd change the laws that are in place for a contract between two private parties that doesn't effect the tax payer.
What about tax payers that are owed money that isn't student loans? That student loans are treated differently than all others is horseshit. Either all loans can be discharged or none can, imo.
