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- - Student loans (https://www.talkofthevillages.com/forums/current-events-news-541/student-loans-314887/)

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Originally Posted by Indy-Guy (Post 1889465)

Our granddaughter is age 17 and a Junior in Highschool in central Indiana. A couple of months ago she joined the Indiana National Guard.

She will receive a $20,000 signup bonus to be paid out over her 6 year commitment. This coming summer she will attend 2 months of guard boot camp. As part of this program she also will receive her tuition and books paid for at any Indiana state college. Also while in school she will receive $900.00 a month plus what she will receive for attending guard meetings monthly plus 2 weeks summer camp. She has made all A's in high school and has tested out to be a medic while in the guard.

She will graduate with no student loans. She found this opportunity on her own and was totally her idea.

This is great. She is earning every bit of her education!

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Originally Posted by Indy-Guy (Post 1889465)

My grandson is finishing up the very same program.
Independent, committed and hard working (the essential ingredients).

Quote:

Originally Posted by Taltarzac725 (Post 1885287)

I had a Stipend Grant which paid a portion of my costs at the U of Denver Graduate School of Librarianship and Information Management in 1983-1984. This Stipend required me to work in Nevada for a certain period of time as Nevada had no accredited library schools offering MAs.

I went to law school in 1986-1989 at the U of MN and that prevented me from working in Nevada and other stuff after 1989 also had that affect.

I fought for getting better information in libraries for survivors/victims of crimes using my 4 degrees (two BAs from the U of Nevada, Reno) and connections creating while getting these and the State of Nevada agency handling this Stipend Grant found that my work in other states helped the people of Nevada such that it counted for that time. I did have to give them a lot of documents and such. That ruling was around September of 2000.

There should be other ways to pay back student debt especially in times like these with the Corona Virus. Finally got my law school loans paid off in full last year.

Very interesting post!

Quote:

Originally Posted by npwalters (Post 1885323)

The student loans won't be "forgiven". The cost of that education will be shifted to the taxpayer. Many - actually most - of those taxpayers did not have the advantage of a college education or paid their own way.

When an individual gets increased education, BOTH they and the greater society will benefit.

Quote:

Originally Posted by CoachKandSportsguy (Post 1885340)

The cost of college accelerated because the government loaned money without regard to repayment ability to students Colleges took advantage of the government funding their income source. However, that does not mean that everyone pays full tuition. Scholarships are given out by private colleges and public colleges. My son went to a high end private college at $50K per year, he was given a 50% scholarship, and I paid 80% of the rest with him taking out about 20% of the tuition. Similar scenario with my daughter. I was unemployed at the time he started, and I took 100% loans out for myself, same for my daughter as a public university. So thank god for parental loans which were given out without payment requirements.

My daughter worked for the VISTA program which paid minimum wage, but would contribute $20K towards paying off college loans, and that was about what she borrowed. There are post graduation programs to work which will assist paying off loans. My son paid off his at his job by renting very very cheaply. But they were brought up being responsible.

But the US is trending toward rewarding victimhood, so people play up that angle in the media. But counter point, having automated people out of a job, jobs are trending toward commodity requirements, so minimum wage. That's part of

Amazon.com

so, the world operates on most people think that the current scenario will continue indefinitely, and that never happens. Expect continued trends towards smaller numbers of educated jobs and fewer people employed above commodity / service level status, with ever more requirements on highest learning. Its a slow long term trend, but its real, and age discrimination is part of that. I was part of an age reduction program at work, I survived, but also don't care if I get let go.

so expect that the student loan repayment of existing loans, even if they cancelled the program today, to continue to be an ever growing issue, due to employment trends, and population trends as the primary reasons.

so not sure that prior posts are all accurate. . . many generalizations and assumptions

sportsguy

A large part of the increased cost of College started around 1975 with the upper managers in Academia demanding higher and higher salaries - they were taking their clue from Big Corporations where CEOs began making excessive salaries ( Jack Welsh of G.E. would be the "poster boy" for such excesses). The upper 20% in BOTH Colleges and Corporations were basically sucking the money upward from the middle class. The average US worker got zero pay raises (with respect to inflation) from 1975 until about 2000. Around 1975, GREED became "GOOD" at Colleges and Universities and the students had no power to control their own tuition increases. The rich got richer, the middle class dried up as a social force and got high tuition bills, and the poor got poorer!

Quote:

Originally Posted by jimjamuser (Post 1889868)

When an individual gets increased education, BOTH they and the greater society will benefit.

True but..............when that "individual" takes out a loan for whatever reason, that "individual" has a personal obligation to pay it back on his dime, and from nowhere, or anyone else.

Quote:

Originally Posted by collie1228 (Post 1886703)

This whole issue is merely a way to further subsidize private colleges and their overpaid administrations. Whenever the government gets into the business of increasing financing of higher education, the colleges and universities increase their prices accordingly. Oh, and does anyone disagree that the vast majority of them are democrats?

Disagree. That was not logical.

Quote:

Originally Posted by jimjamuser (Post 1889868)

When an individual gets increased education, BOTH they and the greater society will benefit.

Agreed but they should be responsible for repaying their loans

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Originally Posted by Stu from NYC (Post 1889880)

Agreed but they should be responsible for repaying their loans

Everyone that takes out a loan should have to repay their loan. Period.

Almost everyone becomes addicted to FREE CHEESE. Sooner or later they find out there's a mousetrap at the end of the cheese brick.

I paid my student loans off. I want a refund. Seems only fair.

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Originally Posted by JP (Post 1890586)

I paid my student loans off. I want a refund. Seems only fair.

Agreed. Forgiving student loans is a slap in the face to everyone who worked for years to pay them off.

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Originally Posted by chet2020 (Post 1886984)

I lean left which puts me far left of most Villagers. I'm not a big fan of forgiving college loans. I do not understand the concept of paying $50K/year at a private college, and graduating with a major in English Lit and $200K in loans. FWIW, most of my liberal friends agree with me. Believe it or not, a lot of we libs are concerned about personal responsibility and the national debt. There is a noisy group of lefties that want full forgiveness of college loans, Biden at least reduced the damage to a $10K reduction, not full forgiveness. We'll see if this all flies. Support from the left will be softer than many think.

I'm a fiscal conservative, social liberal (that means I'm a moderate, kids). I feel that full debt forgiveness without condition is a really bad thing. No lender in its right mind would ever lend to that demographic (students) again, if they learn that the borrower won't have to pay the money back. You end up with only the rich being able to afford to send their kids to school. Remember even poor people with full scholarships have to pay for books, food, in some cases housing, transportation home when the dorms close down for winter/summer break, etc.

What I am -for- is full forgiveness to any student who has had to pay at schools that have closed down, or have been proven to defraud its students and their families.

I am also -for- tuition-free state college/university matriculation. Meaning - if your family actually lives in the state more than 6 months out of the year, you can attend that college/university for free (other than activity/lab fees). But if you choose to live on campus you'd have to pay room and board. If you are from out of state, you have to pay room/board and tuition.

I am -also- for deferral options as a result of the pandemic. Any student who needs to take a year off from making payments should be allowed to do so. Or they can pay the interest only for a year, and return to the usual schedule of principal and interest payments the following year.

In this way, lenders will be able to continue lending, borrowers can continue borrowing, everyone continues to have some responsibility, and no one gets screwed out of an education or whatever money they are owed.

Quote:

Originally Posted by Bay Kid (Post 1887195)

Exactly. Why should responsible, working people pay for the irresponsible, nonworking people? $10,000. forgiveness is $10,000. too much.

In the words of Judge Smails......