[HockeyIlliterate]

Originally Posted by Lanny_McDonald

You're right, there is. The reality is there was a generation of students that caught in the escalation of costs that made education ridiculously expensive. The inflation that made it that way was driven by the private institutions and regulations were non-existent to check this loading of debt on students. There is a lot that has to change in education, but solving this problem is not just an education problem, but also an inhibitor to the economic health of the nation.

Those who took out the loans share in the blame too.

They could have chosen to go to a cheaper school, or pick a major that offered decent career prospects that would likely support the repayment of the loan, or so on.

Curious that you don’t mention their role in the matter.

Originally Posted by Lanny_McDonald

It would focus on those who were unfairly targeted by not only predatory private loans. . .

Originally Posted by Lanny_McDonald

Because they wouldn't. Loan forgiveness is not intended to help those with privately held loans, only those that are government backed would be forgiven.

Which is it?

Originally Posted by Lanny_McDonald

Yeah, you got yours, so #### everyone else. Amiright?

No.

I paid my loans. It wasn’t easy. But I did it. And pretty much everyone else can, and should, do so.

Originally Posted by Lanny_McDonald

First, it would help if you would contrast the difference between colleges and universities, and then the public system and the private system. You're applying the same brush to them all, which is a failure in your discussion of the issue. The issue affects the various types of institutions differently.

Not really, except to the extent of loans generally taken out by the students.

But, again, students voluntarily choose which school to attend, the amount of debt that would have be taken on to attend said school, and which subject to major in.

Originally Posted by Lanny_McDonald

I dunno. Why did we bailout the banks? Why did we bailout Wall Street? Why did we give $4 TRILLION to the top 1%? Why did society fund a massive transfer of wealth to people who do nothing but profiteer at society's expense? Explain away please.

This is just whataboutism from a different perspective and is similarly pointless. A bad political decision should not be the basis for allowing another bad political decision.

Originally Posted by Lanny_McDonald

Why should society fun student debt forgiveness? Because the vast majority of students who carry debt have a significant load caused by the shenanigans that took place as a result of the for-profit institutions and the rapid unchecked inflation that took place.

Debt that they voluntarily took out. Again, you completely ignore the students’ own role in this matter. Why is that?

Originally Posted by Lanny_McDonald

Elimination of this debt will inject vast amounts of money back into the economy. The proof is in the unexpected rebound in the economy, a large part of caused by the suspension of student loan payments.

First, increased inflation is not a good thing.

Second, you are confusing Main Street with Wall Street.

Originally Posted by Lanny_McDonald

Those suspended payments weren't weaseled away into savings or investments, like what happened with the $4 TRILLION gift to the top 1%, this money went right back into the economy . . .

Investment is spending.

Originally Posted by Lanny_McDonald

Since most people with student debt have said they would take that money and turn it into a major purchase, like a house or car . . .

So they can go into more, or other, debt?

Which they will then presumably ask to be bailed out of too?

Originally Posted by Lanny_McDonald

Inequity in funding? I don't understand this line of thinking.

The argument is that funding tends to assist only certain groups or segments of the population. You don’t see much government money directed towards single childless adults who rent, for example.

Originally Posted by Lanny_McDonald

You're lucky you went to school when a Pell Grant paid for the majority of a year's schooling, and not a fraction of a semester.

Ha, I wish. You clearly have no idea what you are talking about.

When I went to college, as I recall the maximum Pell Grant amount was $2000 a semester (or maybe a year, but I think it was per semester). But that is irrelevant.

When I graduated and started paying back the student loans, my monthly amount was around $470 a month (I consolidated all of my loans and so I had a 30 year repayment schedule). Adjusted for inflation, that is around $720 a month today. Or about the same as rent for a one bedroom apartment in a medium to low cost of living area (which, at the time, it really was for me, as the monthly loan payment was roughly the same as my monthly rent). It kept me from buying a new car, new furniture, definitely a house, and a lot of other stuff. But that is just how it went, and I paid off the loans in a bit under 9 years.

Do people have higher monthly student loan payments today? Undoubtedly so. But they voluntarily took out they debt. And they can pay it back too. Sure, it will suck. But that is the deal that they made.

Originally Posted by Lanny_McDonald

Something needs to be done for mainstreet in the country, and student debt is a great place to start.

I agree with the former, but not the latter.

Start with health care, which definitely affects everyone.