Solution: all student loans can and should be cancelled.
There is sufficient historical precedent to more than justify a large-scale general debt write off. Most of the ancient civilizations of the middle east had some form of regular general debt cancellations from Babylon, Mesopotamia and Israel. Read more here: michael-hudson.com
So that is over $1 trillion owed to the federal government alone that should, yes, just be written off. All of that is even traded as Student Loan Asset Backed Securities (SLABS) making a security bubble similar to the mortgages in 2008. This bubble will definitely pop in a similar manner so something needs to be done to free the youth from this slavery before all the creditors get off scott free like in the aftermath of 2008
now to leave a lesson on the nature of debt: youtube.com
Student loans are a problem
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Why should irresponsible people get a handout
>picture of a train with a face on it
I'm not clicking that fecal matter, homo sapien.
oh but if its irresponsible corporation overlords you are all for it
Goddamn just pay the minimums you decrepit faggot. Goddamn, I’m poor as shit but still manage my 75/month
Not really
where did he say that?
use the degree as collateral. it gets revoked if not paid in full within a certain amount of time
Debt jubilee in general followed by a return to a silver standard.
After a few years of experience that getting that degree revoked wouldn't matter
The right solution is to get govt out of loans
the gvmt gets handouts
military gets handouts
auto and bank bailouts are half the debt
oil and coal get subsidies
musk's "companies" gets handouts
what would be a better way to spend money than writing off the student debt?
in theory you could just forfeit and be done with it (((banks))) can do without that money
taking the maximum amount, investing it, and paying the minimum is the best move for young poorfags
you poor sad day dreaming nigger faggot. you dont understand anything do you.
1) student loans were never meant to allow you to get a real higher education in america. real colleges that would allow you to get jobs in industries require more money. the rich have all the advantages and you would only get a semester or 2 from state colleges. same with the bulk of scholarships handed out yearly by all real colleges. you get debt and debt alone for being a serf
2) since your just a serf you have no rights. you will work and pay those debts and die in debt. the elderly dont care about you. you work and pay for social security. thats all you are to them. mindless drones. debt relief for making bad life choices like picking bulbasaur are unlikely at this point. you should have chosen to be a bandit at least they set their own hours and sometimes when lucky get to feel real power like deciding if some one lives or dies
It's implied. Universities used students as conduits for loan money in the form of "tuition," but somehow they have no responsibility to pay back what THEY owe? We should just restore traditional bankruptcy for student debt and force universities to cover any shortfall. If they weren't handing out useless degrees, they'd have no problem with this.
Fuck off skid. Pay your bills.
Cancelling the loans would need to be 1 of several steps to solve the problem.
Reducing the amount of degrees per year would also need to be done. Over saturation has lead to a type of inflation, with the value of a degree being worth less because so many of them are issued.
Another step would be reducing the total cost of the education process. But horrible spending habits by the people cannot be controlled. How much of the total debt owed is from the line-of-credit given for "student living" where idiots waste thousands on Starcucks and alcohol while attending school.
>people make the decision to take a risk in taking a loan in a proper and clear contract with little collateral
>get degree in shit studies or fail in their duty to achieve a degree/drop out
No, if you are a shit and you fail to pay your debts you deserve your shit. You took the risk and you failed. It's not the responsibility of someone else to bail your bitch ass out for your own retarted decisions.
Taking the maximum amount of what? They don't just hand you a lump of cash as your "student loan;" it's channeled through a university which takes its cut and then sends along some "living expenses," if that.
If I haven't paid my student loan off in 30 years it's cancelled.
And if I don't make over £25,000 I don't even have to start repaying it.
It's s systemic problem, not an individual problem. It's suppressing white/educated birth rates at this point and is strongly dysgenic. As social policy, it's completely retarded to burden young people with student debt. The universities which promoted this scam need to eat the costs out of their endowments.
A lot of students (degenerates) just use college to party and explore themselves. They eventually get whatever business nutrition degree and move on
We just need to figure out a way to make cheap colleges into party colleges and leave the academic colleges to the serious students
>what would be a better way to spend money than writing off the student debt?
Putting it in a rocket and firing it into the sun.
Really the retards that waste their time and our collective resources getting useless degrees should be neutered. Society absolutely should stop rewarding bad decisions.
The government needs taxes to function
The military is an arm of the government
I disagree with bailing out the banks
I disagree about subsidizing any industry
See above, but innovation grants I do agree with
Spending the money on literally anything else. You get more of what you subsidize and less of what you tax. If you tax the successful to pay for idiots then you get more idiots and less successful people. Repaying all student loans will just compel people to continue to make poor decisions. Since one generation got bailed out, why not another? Honestly schools should be responsible for the loans they give out. They wouldn't be incentivised to teach bullshit majors if they knew they were going to lose money on it, and the students of merit who need to go to college to get into their field would have just as easy of a time doing so.
I thought that difference already exists between college and university.
Same here if its a federal loan, a lot of people have to take private loans too
the maximum offered subsidized/unsubsidized loan. if you need the maximum amount each semester just to live and pay expenses then you are fucked.
I applied for a job as a teacher in Sydney, The students pay a minimum of $6000 per trimester. There are something like 30 students doing this course. They get $180,000 ever trimester. So, you know how much they were going to offer me as a teacher? About $65 per hour for 3 hours a week. That is how cheaply the schools are able to hire a teacher for these courses. University is a complete and total scam. There is nothing you can do about your debt yanks, just make sure you tell every young person you meet. That not even a STEM degree will get you a job. So don't waste your time dreaming about some high paid job. Go work in fast food. The western world no longer offers a future to its young people. We are all doomed to work in low paid service jobs. Unless we have some kind of political revolution. Neither, Trump Hillary or Bernie will ever save you. Voting isn't a revolutionary act it will change absolutely nothing. If voting worked they'd make it illegal.
And then?
While that would be better than the status quo, an abrupt cancelation of all student debt would be rather unfair to those who've just paid it off.
While the apparent value of a degree to those who do it may depend on scarcity, the real value of higher education depends on what people actually learn - and generally the more people who have degrees, the more prosperous society is.
That's a recipe for economic catastrophe!
The exact opposite is the case: government should be more involved, making the loans interest free and only requiring repayment after you earn over a certain threshold (which should depend on the type of degree you do).
They go some way towards this in Australia.
Wealth is concentrated in a small number of hands, and the opportunities it creates are jealously guarded. Your first mistake was assuming our societies are a meritocracy in which those in power hire the best or most qualified applicants. This is not true. They hire their friends and families first. You aren't going to make friends with these people. Their friends are part of the upper class that run the country. Your second mistake is assuming hard work has something to do with success. When you can buy hard workers you yourself don't need to work hard. When you can purchase intelligence you don't need to be smart. The upper class certainly aren't fit to govern, but its a secret club and you weren't invited.
>get a loan to go to school to get a job to pay the loan
>getting the loan was easy
>learn nothing useful in school
>can't find a job
>can't pay the loan
>cry about it on the internet while contemplating suicide
lol, you are a faggot and you should have had the balls to determine your own fate. Do you really do everything you're told?
Kill yourself.
I did rotc it worked out fine so far
b8
>It's a systemic problem
No it's an individual choice, no faggot banker jewish kike is holding a gun to your head forcing you to hand over the foreskin and john hancock for you to be in debt
>It's suppressing white/educated birth rates
No, making bad decisions and poor choices in education is suppressing the rates. Without proper understanding of education and what does and doesn't hold value. Also the parents embodying in their children a proper work ethic you retarted troglodyte.
>As social policy, it's completely retarded to burden young people with student debt
What social policy? Again no one from the hook nose tribe is forcing them to have debt.
>The universities which promoted this scam need to eat the costs
No retarted kids made the decision to get degrees in useless studies or failed to do their part and graduate.
Again, grab your fucking non existent ballsack you retarted shit and work and earn your keep. You reap what you sow.
I miss 2011 Jow Forums before all the boomers showed up
You will be giving half your paycheck from Starbucks to the bank until you’re dead you dumbass. Did you really need that art degree?
Have fun with your useless degree.
they need to do 3 things or more to get young whites to invest more in society: debt forgiveness (they spent the past 30-40 years telling everyone you have to go to college) student debt is going to kill the housing market and the auto market (unless they just import shitskins, some of the cuckservative faggots probably are okay with that though). second, they need to create either a tax credit for young people to buy a home and marry and reproduce. third they need to outlaw contraceptives to curtail sexual degeneracy and give more tax bonuses for having one person in the house working and the other watching the kids. this will never happen though
If you favor debt write offs why not just make it free, force the college to accept everyone, it might be inferior and a waste of taxpayer money but it would be more long term then a band-aid fix that only benefits those who are already in debt
free college is a bad idea I would just like to hear your opinion because it seems like a means to an end
t. dumb fucking white trash who thinks that he lives in a bubble.
so the school system and universities scams ppl and you call it their bad decision
the loan should be transferred to the university if their job cant afford to pay for it
the issue is the short term gain of the college racket is going to kill the housing market and kill most of the services and tertiary economies like tourism since nobody will have secondary funds. but you didn't think about that did you, no. why? because guys like you don't think things through.
This
What will happen in 5,10 years when although you've written off the debt for others there is now more generations with the same debt you had before the write offs, this will do as you say it is about to do and is doing now kill the housing market and tertiary economies. That is why I'm saying its writing debt off is a band aid fix. This situation of debt we have now is actually a market failure because the market is providing too much college education due in part to sally may
>mon-dischargable debt
Hahhhhahahaahahahah take your sheepskin and get fucked. You're now a serf for life
That sounds like a good idea. While we're at it let's wipe out mortgage debts too since it's stupid I need to pay a bank for my own home.
yeah and writing off the debt would annihilate the university system and correct the issue. another key thing is to actively END federal student loans and force schools to be affordable
this
he's being sarcastic
yeah housing is another market that is fucked, I feel like the jews will cut some kind of deal to sell more homes, maybe import more shitskins
is he though? or are you just being a contrarian to OP, I appreciate you at least intelligently disagreeing. to be honest there is a huge future out there for some demagogue to rope in all these people with that promise, and that person will emerge and continue to become more of an issue unless something is done to correct the issue. your arguement originally was just snide but it has some merit, in a society without immigration with a demographics similar to 19th century america, free college makes sense. in the 19th century destitute people were often housed by the local churches for free. the collapse of all empathy and common feeling in the USA is part of the triumph of the jews
>all student loans can and should be cancelled.
They shouldn't be cancelled, they should be transferred to the College administrations that line their pockets by scamming kids into indentured servitude. The people profiting off the scam need to be held accountable. It's grotesquely irresponsible they way they systematic deceive children from 12-18 into entering into a scam and then tell them they should have known better than to buy into it once they get the chains around their legs. It's fucking evil. Government loans should not exist.
Ending federal student loans would leave most grads after the write off up the same creek 10 years after the write off because student loan debt cannot be erased by death or bankruptcy the only way to get rid of it is to pay it off (currently) you would have to change that as well if a write off is done
Forcing schools to be more affordable how? you would have to trim a lot of college fat and most of that fat is the reason people go to certain colleges (Football teams, philanthropy, children's hospitals, and new age tech)
I do agree the Jews are to blame for most of this college debt problem
(((Sallie Mae)))
>Forcing schools to be more affordable how?
By ending federal student loans. Getting rid of the artificial demand that forces up the cost would cause it to fall back down to earth.
Yeah. Possibly do credit card forgiveness too.
> Not taking out a private loan(s) with manageable terms and paying back student loans with them
> Kikes want your debt and will compete for it
> Even lowering the total amount owed and offering terms like a 5-10 year grace period.
> MFW I paid off 50k in student loans this way and now work in finance making 65'000 a year
> mfw $1200 total debt carried across 3 cards is 0.1% of my available credit
> mfw i'm 25, own 2 cars, and live in a comfy doublewide with my wife on a small lot we're having our house built on
> mfw there is literally nothing wrong with student loans if you're a shitlib majoring in African-American dance therapy
> mfw my housing loan of 250k only dropped my score 54 points
Finance is fucking easy you twats
Colleges would also have to cut excess programs to deal with the drop in attendance. The lost revenue would have to be reclaimed. Hopefully this will lead to an end to interpretive feminist dance theory majors as the program would probably be cut
Can you go into more detail? what if someone is in default? How do you lower the amount owed? I know very little about all the bureaucratic crap that goes in in the world.
"Boomers" and parasite (big and small) will suck as much blood out of the generations that followed them as they can. It's not just student debt it's the whole financial system. Your best bet is make as much money as you can so you don't get caught in the undertow. Greed is a powerful motivator. Frankly, I'll be surprised if the whole thing doesn't come to a complete disaster before anything is done about it.
I fucking hate this meme.
Finance is one of the only graduate jobs that make these loans worthwhile, along with perhaps engineering. But what a soulless job it is to fuck around with other people's money in what's effectively a Russian nesting doll network of ponzi schemes. I know plenty of hotshot bankers who're making money, but most of my doctor friends are borderline suicidal because they're simultaneously overworked and £100k+ in the hole. Money isn't success.
College could be free to every high school kid in America if we didn't pay over 100 billion dollars to care for all the illegal aliens leaching off our country.
I'd just revert the law to allow people to declare bankruptcy on it and no government guarantee. Fuck the banks who have ridden the no-consequence gravy train for too long.
Now they'll have to actually consider if loaning out that money is a good investment or not.
Better question is why in the age of the internet does an education cost more than it did 100 years ago and produce inferior results.
Equality and diversity, you bigot.
Why should irresponsible LENDERS get a handout?
liberals, obviously
defaulters on student loans should have one finger removed for every day they don't pay, then when their digits are gone should be beaten to death
why should I pay for their degeneracy? why should a swath of the population, by no virtue whatsoever, live on our dime for five years in luxury, and be labeled one of society's worthies?
lenders give out money
you got a license for this comment?
Correct
you can't buy an education. you're either born with the capability and inclination to learn, or you're not.
judging by the way you think it would seem you're not.
Congratulations. You missed the point entirely. Thank you and have a nice day.
I've been trying to work out how this could theoretically collapse but everyone I speak to is "just never going to pay it back lol". You can't declare yourself bankrupt, so the default rate will look different to mortgage defaults, but you also have absolutely zero (tangible) equity for your debt, which would make mass defaults more severe. Will they just ramp up the interest payments? Even that doesn't seem worthwhile if most graduates are starbucks barristas. It's blowing my mind that things like SLABS exist, when student loans seem like on of the most retarded "assetts" to build a derivative onto.
a Jow Forums champion is not necessarily educated
Luckily I was smart enough to study engineering. My point is that an art degree should not cost tens of thousands of dollars. That being said let the buyer beware.
so you can build stuff. but you can't figure out how to avoid building stuff for communists.
>but you can't figure out how to avoid building stuff for communists
What are you on about, m8? What have I said that would make you think that? I'm not for wealth redistribution.
i'm just messing with you I know you have a wonderful plan for your life :)
you got me
what's the name of the diner you're at?
they should not be cancelled since some will actually be paid
rather we should make them dischargeable in bankruptcy like all other kinds of debt
that way kids can get out from under their dumb decisions but still pay for it with a decade of bad credit
and banks wont give them out so easy anymore
most importantly the jews lose their legal lifetime debt cattle
t. financial crisis 2008
>what's the name of the diner you're at?
is that supposed to be humor?
US student loans should be forgiven for US citizens (not DACA recipients) because it will allow them to actually afford commodities which will drive the economy for both responsible and irresponsible people
Sure it's unfair to those who paid in full or worked their asses off but the people who were able to budget or pay off their student loans are probably going to continue to dominate the retards who put 100k of debts on their future selves.
The economy doesn't work if people can't participate.
get a fucking job and pay off your fucking loans you fucking leech
Please tell me who will be paying for the professors and other faculty? Building and grounds maintenance? Everything else?
Fuck off, kill yourself, and burn in Hell you retarded fucking commiecunt.
>>It's a systemic problem
>No it's an individual choice
Are you autistic? It's a systemic problem because it has systemic effects. That's the definition of a systemic problem. If you have a problem, you can either address it, or screech autistically about how you don't approve of the problem's existence, since it violates your personal theories of how things work.
are they selling coi fish? because that's how you come across- coy
This isn't even the kid's fault, they are mislead into signing up for awful loans by College readiness programs in High Schools. They are outright lied to about how serious of a financial load they are taking on.
>not realizing your paying the kikes
>not realizing kikes are responsible for poisoning our academic institutions
>not realizing kikes find refuge in academia
>not realizing the sole purpose of a modern education is to enslave your mind
Fuck off, kike.
It’s also predatory lending considering all students qualify, and there is a narrow window when you are planning for post-high school and they basically sit you down and tell you to sign the papers so you don’t “skip” a year and you can stay on the same 4 year track as everyone else
I didn’t realize how bad it was when I was graduating and my family had planned for my education, and I found out my friends who were better at studying than I was had 10x the loans
*You're
The "bet" is that the government will (one way or another) recover enough money over time to balance out the budgetary impact, or even gather a bit of revenue. That's based on experience with smaller debt-loads. The question is whether this model will continue to work now that debt sums are over $1.5 trillion in federally-backed student loans.
Pic related is actually the 74-year-old congresswoman in charge of this stuff in the US House, so, I don't expect a lot of creative thinking about this issue any time soon. Her response (and the US Department of Education) so far has been to make loan forgiveness MORE difficult, in the hope of gathering more revenue and making the government's balance-sheet look better. I wouldn't be surprised if existing "forgiveness after X years" programs (PAYE, IBR, PSLF) are either eliminated, or X is expanded out to something ridiculous like 50 years.
VOTES DEMOCRATS FOR MORE STUDENT LOANS. SCHOOLS SEE LOANS AND TURN INTO JEWS AND RAISE PRICES OF COLLEGE CUZ TOO MANY STUDENTS CUZ OF LOANS. COMMUNISTS CRY AND VOTE DEMOCRATS IN FOR MORE LOANS. SCHOOLS SEE LOANS AND RAISE PRICE FOR MORE MONEY. COMMUNISTS CRY AND VOTE DEMOCRATS IN FOR MORE LOANS. SCHOOLS SEE LOANS AND RAISE PRICE FOR MORE MONEY. COMMUNISTS CRY AND VOTE DEMOCRATS IN FOR MORE LOANS. SCHOOLS SEE LOANS AND RAISE PRICE FOR MORE MONEY. COMMUNISTS CRY AND VOTE DEMOCRATS IN FOR MORE LOANS. SCHOOLS SEE LOANS AND RAISE PRICE FOR MORE MONEY. COMMUNISTS CRY AND VOTE DEMOCRATS IN FOR MORE LOANS. SCHOOLS SEE LOANS AND RAISE PRICE FOR MORE MONEY.
DO YOU SEE THE PATTERN FAGGOT? youtube.com
alrighty then. this has been very enlightening. thank you.
The Trump administration has done nothing so far to lance the higher education bubble, either. It has been a major disappointment so far. His Education Secretary is actually going soft on some of the biggest scam-schools that only existed to soak up federal money, like "Corinthian Colleges."
> implying Betsy was ever going to show up to work besides shilling for school vouchers to save white kids from shitty public schools
>The question is whether this model will continue to work now that debt sums are over $1.5 trillion in federally-backed student loans.
if this is all based on an economic model we're 100% fucked
You mistake me for someone who would ever pay for college, you fucking rube. Enjoy your debt, and make everything free, that would totally work, right?
Just use the money from the Afghan opium operation that the US has occupied and locked down to pay it off. 1.5 Trillion a year