Why am I supposed to feel bad for people who take out loans that they can’t pay back...

The state education system spends 12 years brainwashing you that if you don't go to college you'll end up a ditch digger making minimum wage. Not once in school does anyone mention the negative consequences to these loans for a lot of people.

10 years' labor in camps would be a fair way to pay off student loan debts, they could be used to build the wall. What the hell were they thinking? Did they really think that if every fucking idiot out there had a $200k liberal arts diploma they would automatically be living large for the rest of their lives?

I think you might be missing the point there fella. The cost of higher education has gotten way out of hand, and young people don't have the money lying around to pay for it up front, so they need to take out a loan to pay for the tuition and other costs. They want to get a degree. They want to make their lives better and contribute to the economy and society as a whole. The increase in the cost of higher education is due to the fact that there are (((people))) out there who are unnecessarily profiting from the trend. But let's just ignore the (((people))) who have made this whole thing a reality, and instead point and laugh at the young students with modest savings who are trying to do something positive in their lives and contribute to your American society and culture and economy. Let's not talk about (((them))) okay? Even though (((their))) plan has been to slowly bleed you all dry of your money and make it virtually impossible for people to get higher education and therefore dumb down your entire society all in one shot.

Because they were children who were indoctrinated to believe what they were doing was what was best for them and they'd have a guaranteed return that never existed.

If the government is stupid enough to forgive it, then all that money should come out of the department of education budget.

Schools created this mess by brainwashing kids an parents to seeing college as the only career path.

Complain about the mortgage debt while you are at it and give away free houses!

>Not once in school does anyone mention the negative consequences to these loans for a lot of people
This. US public school does jack shit to prepare anyone for actual, day to day life.
They don't even teach fucking driver's ed anymore, they outsourced that & made you unable to get a license at all in many states unless you complete a private driver's ed course.

The problem is with the schools. College prices have been increasing at nearly 3 times the rate of inflation, for the past 40 years. The product has not improved at this rate, it has, in fact, deteriorated. Colleges have way too many overpaid administrators and overpaid professors of fake subjects. We need to address the cost side first. The government could, for instance, refuse to guarantee loans or give aid to students to attend schools who charge over $50,000 per year. Or, better yet, set it at $35,000 per year. Suddenly, as if by magic, the colleges will find ways to cut costs.

Revoke the tax exempt status of universities, problem solved

in order to receive federal loans you must take federal loan counseling where they go over the real costs and risks along with taking out the loans.

Yeah, only goyim pay debts. The chosen and big business get bailouts.

It is a problem that a certain group of (((people))) have tricked millions of women into getting a useless college education that they can't afford. This has turned millions of women into wage slaves for the banks. That effects men because we can't find debt free non brainwashed women marry. Though we shouldn't be talking about debt forgiveness like these faggots on twitter are talking about. We should be convincing more women not to go to college.

Wouldn't this give an unfair advantage against those that had to pay for college and get student loans?

Do they go over realistic assessments of your chosen major's job prospects?

maybe that wouldn't be so high if retards didn't waste time and money on getting a degree in gender studies or philosophy

Even more revolutionary idea! Allow student loan debt to be processed like any other debt so that if a banker loans an 18 year old girl $60,000 for an African poetry degree he loses the investment!

Feels good having parents who aren't total fuckups that paid for my college.

Also helps if you stay in-state and get a degree with good job prospects, both of which are concepts a lot of millennials seem to struggle with for some reason. Most are more concerned about being independent/getting away from mommy and daddy and having the "college experience" than they are about their education, though.

>Why am I supposed to feel bad for people who take out loans that they can’t pay back?

Because they were brainwashed in school as young children by every single adult in heir life and couldn't possibly have known any better

are you me?

Yes, I agree. NO government guarantee. Let the 18 year olds without any income, collateral or credit history see how much the bankers will lend them. Not being sarcastic, the bankers should use the identical criteria they use for all other borrowers. The loans will dry up, the schools will HAVE to drop their prices, or close their doors.

Higher education used to be reserved for rich people that could afford it and the best and brightest of minds that could get in via scholarships. The idea that everyone is college material has completely devalued the purpose of higher education. People in debt have nobody to blame but themselves.

i don't remember that part. I think it would be a good idea, but at the same time I doubt that would deter some retard who plans on being a social worker or art major

>go to college
>fuck up and do sub par drinking and partying
>50k in debt
>get shitty desk job
>"wahhhhh i don't wanna pay this it isn't fair boo hoo poor me"
college cucks should be shot on sight

Here;s the thing, when they all default it will be you the taxpayer who's stuck with the tab. When you borrow millions you have a problem, when you borrow billions and trillions? They have a problem.

>ITS NOT MY FAULT
By the time you graduate highschool, you should know what an interest rate is and be able to look up job placements at your chosen university/field.

True. I got my BS in MIS and there are plenty of jobs.

I bet it feels good, going to be hilarious when taxes go up to pay for the defaults. That and more and more millenials voting socialists who will tax the likes of you. Not trying to be a dick, just saying that's how that shit is going to play out. I hate millenial idiots too but hey, there are more of them than you and me. I'd be focused on saving as much of your wealth as possible, i'm planning on just living off grid.

>bold idea
>make everything free
ok.

This. Imagine being a loan company that can give out loans for any dumb shit and people HAVE to pay it back. Also bonus: the loan company gets to prey on ignorant kids.

All scams prey on the most vulnerable in life. Thats why they work.

That's why is the right solution. Especially public universities that double or triple dip from tax payers in the form of state subsidies, government contracts, in addition to taxpayers fitting the bill when students default. Universities have tons of sources of income and operate as for-profit institutions. They get money from trustees, endowments and sports teams. It's a fucking racket and there's no reason for them to be tax-exempt.

I'm doing 3 years of labor camp in Africa to be free of debt when I graduate. Fucking military jobs...

>doesnt realize his parents had to pay triple the value for what he got
>brags about being ripped off

Woah buddy.

Which is an online module that talks about interest. It's not as intuitive as you'd think for most. I get your point, but it's really just a way to remove liability from the lender.

You should really tell that to your own government.

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the return would exist if we didn’t import millions of shitskins and h1b indians every year making their new degree useless when there’s a foreign slave class willing to work for 1/4th the wage.

Its an economic argument

Bankruptcy and making debtors prison illegal was actually really really good for the economy because it disuaded bad actors and incentivized risk taking and entrepreneurship.

You have to understand the retards you talk to on pol argue for agrarianism and the gold standard and “ending the fed” unironically.

They are halfwitts

To the loans currently held by the feds that money is already gone, we were fools for letting it go in the first place. The taxpayer is on the hook for those one way or another. To the loans held and serviced by private lenders... well fuck 'em desu, default options would hurt but not kill them, and again fuck 'em.

agreed. if it was a real market the bank would have to look at it like an actual asset. will this person pay this imaginary money back to me? basket weaving social gender studies degrees dont usually bring returns.

Retard leftists. Why can't our education system be similar to Germany's with a well respected trade school system parallel to higher education?

Wasting money on degrees for dumb bitches like AOC is inefficient.

Because no one properly educates these kids when they get these loans. They tell them they absolutely must go to college. That is really what needs an overhaul.

the principled stance is to never take any loan for any reason no matter how sure you are you can pay it back4

It's probably not so easy maintaining this stance amidst temptation though. One of the ways to do it though is to just be ok with having less: just an appartment, no house. No university, just shitty jobs. And so on

Yes

This. There's more too. Universities have such a monopoly on secondary education. They work with the government to control creditation.

I dropped out of university in my town and hated the job I was in. Looked around and saw the only option was college. Had to take loans because I couldn't get my scholarship. Thankfully, got a useful degree and found a job immediately, but I'm busting my ass to pay off this loan. It's not big and the interest is low, but it's no joke.

>gets a liberal arts degree
WHY CAN'T I FIND EMPLOYMENT I'LL NEVER PAY OFF MY LOANS

>gets a degree in law and works in a coffee shop
WHY CAN'T I PAY OFF MY STUDENT LOANS

>The (((predatory loan companies))) target blacks and single women knowing full well that they will never be able to repay it or use their stupid degree (if they even finish). Then the taxpayers pick up the tab.

they did the same shit with the housing loan bubble. Here nigger, sure you cant pay for this, you dont deserve it and this is basically just going to ruin you, but we gots to feel gud about how we treat you filth. Have a house.

The “return” does exist

Its a massive massive tax on the young. The colleges get tons or free money for miseducating the young.

And the government gets to collect a huge amount of debt (tax)

And the loan companies get to make the loan and then get paid all the money back and all the interest the life of the loan would have produced.

There are huge finacial incentives for everyone involved to fuck the young and zero checks to curb that behavior. (Bankruptcy, regulation, risk)

Its a scam. A fraud.

Revolutionary idea: provide all STEM majors with free tuition and watch your GDP hit the highest points it ever will

True. When you are in the school system you only hear about a set amount of options for your future. Trades is not really one of them. Military or university.

i got a degree in stem and my country is actively importing millions of street shitting code monkeys making it impossible to find employment so your argument doesn’t really apply.

When colleges didn't have hyper inflated class sizes and focused heavily on degrees that could get you a job, student loans (and vocational loans) were considered a very safe loan.

No, that's shortsighted, because it'll just encourage people to clog up the front end of the system due to it being "free" relative to other fields of study.

Thats the biggest joke.

We already have socialized higher education its just that the (tax burden) in the form of loans is transfered to the students primarily to the detriment of the most vulnerable of society.

All while providing zero incentive to control costs or extort these students. Its a scam.

I only mentioned it because others were saying that there was no warning whatsoever. It's tough. I think more time should be spent on going over the risks, but at the same time I doubt that they would dissuade a retard who was looking at a high-tuition, low paying job in the first place, you know?

Social work is a licensed profession, regardless of how one may feel about it. It is not too bad of a career or degree choice for some people.

Those are most case scenarios. You have to stop strawmanning. It's an average of $30,000. I graduated with 32k of debt and a Geological Sciences degree. Found work in the oil field at 40k a year. I live off of 17-20 a year and the rest is going to loans. That's the problem. I am not complaining, but you have a whole generation operating on half their income. That money is not going into new business or investments.

What pisses me off about forgiveness is that you are incentivizing the laziest and dumbest. A guy lights a fire under his ass and pays off all or half of his debt and gets nothing. Meanwhile some bitch down 100k gets theirs forgiven?

it can be a licensed profession, but so is a hair stylist. that means nothing. If you take out 100k in loans for a job that pay 30k, you're retarded. Social work was just the first one I thought of.

Remove the creditation process. Imagine if you found a professor and offered 1-2% all future income in exchange for education. I would love to start a school for geology. I think I have the best method of teaching people, but you can't without being a University

I was accepted to one of the best universities in the world. I was also from a pretty poor family and had to pay my own way for college. It didn't take very advanced math to realize if I went, I'd walk out with over $300k in loans when I graduated. I chose to go to a state school where I came out with $30k in debt. Personal accountability and responsibility are a thing. I wish more people would try it.

That would be where something like making the lender somewhat liable for the loan comes in. Could you imagine if banks made you take an IQ test and you had to discuss your path to paying off the loan with your degree?

I need to pay my ex-wife almost $4.7K/month in alimony and child support. Nobody forced me to sign the contract but that's a crisis on my hand and she's profiting off of it. We need bold ideas; we need to pay for my alimony+child support and every other man's alimony. Or cut the woman off.

the number 56 has been following me around

are the mutt gods trying to tell me something

It's a viable job, but a 4 year degree at a university probably shouldn't be the only route. A modest secondary school for 1-2 year training would be more beneficial. The universities make you take an extra 1-2 years of electives and core classes to make you more "well rounded". As if it was their responsibility.

No. Its economically shooting yourself (the country) in the foot.

Risk taking, entrepeneurship, family formation, economic activty all come to a stop.

Its economically speaking like reintroducing debtors prison and usury.

Imagine some poor kid takes out 150k for culinary school.
When default happens that is ballooned to 300k and the interest is capitalized.

Well now that kids 40k income is heavily garnished for life and the loan never gets paid off. Fuck the interest on the loan makes it get bigger every year.

So he gets to live of 20 thousand or less, but he doesnt qualify for assitance.

Its a joke.

You dont want kids saddled with that kind of hardship. You want them starting businesses and taking risks. But it benifits a certain group of people at a heavy cost to society.

Really glad I didn't falling for this bullshit. I have a white collar job making 80k a year in the midwest and I never completed even a single semester of college, must less borrow for one.

What pisses me off about government is that we have all of these great ideas on possible fixes, but the people making the rules never hear them or they ignore them for their own "fixes". So you have a bunch of college educated old people deciding college debt or marijuana cultivation when they have zero experience.

Lol just go bankrupt

>memeflag
>us europeans
It’s like you want to be called a kike

56
5+6=11
1+1=2
2
Two has been following your around user, not 56, that's just a bigger two.

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joos?

how about at least letting the students declare bankruptcy? You know, like with pretty much every other debt except for taxes and child support. Why have student loans been specifically exempted from bankruptcy?? (((Who))) makes out because of that little anomaly?

I can rack up $100K on my Visa and gamble it all away in a night at Vegas, but if I borrowed that same money to pay for an education then that debt follows me to the grave....

That money went to the university. College should not be free. If you are having problems paying off your degree, it's because you chose a crappy degree.

exactly.

We'll throw $100K at a kid to go to Party U for 6 years and get a degree in lesbian dance studies, but if that kid tries to borrow $20K to start a business hes told to pound sand.

Yeah, because on paper the institutions are all getting a steady paycheck. No wonder they all love it. The next 10-20 years is going to be insane.

If every American had a student loan thats like $5k a person.

>Predatory loan companies
Friendly reminder that lenders don't give money to someone who can't pay them back unless (((someone))) forces them to.

>tfw you have 36k in loans
>tfw the interest rate on those runs between 2.8 and 4.5
>tfw you'll probably have them all paid off after 2-4 years of living at home and devoting 80 percent of your paycheck to the loans, even with a minimum wage cheeser job

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>comparing home ownership to education

No. You shouldn't feel bad for the individual. It is sort of a pity that the middle class was ended in a 5-10 year period so easily though.

>predatory loan companies

The Department of Education?

You can't.
I don't get why that's not an option. Although, it would probably have some awful outcome if you had millions of people declaring bankruptcy on their $30,000 loans. We are fucked any possible way out of this.

If some kid couldn't figure out that spending 150k for a degree was a bad idea, he wouldn't have made it in business either. The problem is that people go to college for crappy degrees in the first place.

The reason why you can't get out of it is because kids have no collateral or stable income when they get the loans. No bank is going to lend you that much money unless there's some incentive for them.

Not a ton of sympathy from me. Going to college rn and almost done with a degree in economics. Just go in state and work and you’ll graduate with minimal debt. Or be black either one works

College is a programmed part of american dreams sold to kids on silver screened highschool sex cultured pop star suppers and corrupt parental advisory labeled music put on by faithless individuals in souled out songwriters guilds made to predatory profit off kids entertainment so that adults dont have to babysit kids. Its a cost of convenience. You collectively subsidize it with the cost of housing inflation and the boomer rental time share idea. Hiw revolutionary for dst

The loans are federally subsidized and guaranteed. That's why lenders are giving them out. The fed gives the money to the student. The student spends the money. The fed then turns over the loan to a 3rd party. The government did this to ensure that everyone has a chance at education.

Retard gets into collegue, gets a student loan to get a $2000 Macbook Pro so he can make powerpoint presentations, word documents and browse facebook. Complains about debt.
Many such cases!

Not really. All said it was like $30k for an bachelors degree in engineering. Started out at a salary of like $45k and making $90k now 7 years later.

College can still be a good investment. But again, only if you go for a degree you can get a decent job with, and as long as you don't go full retard with out of state or private school tuition. Going to a community college for the first couple years is also really smart too if the classes you take and credits will transfer to a 4-year university.

>a degree in economics

That's not a great degree from what I hear.