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Post by jeremysgirl on Aug 7, 2021 15:47:47 GMT
I have a lot of student loans from my master's degree that I'm paying on. My personal opinion is that the loan forgiveness is not a good plan. However with that said, my loans have something like a 7.5 interest rate. I would love to see two things happen 1) interest rate dropped to zero and 2) longer allowance of payback time. They want my loans paid back in ten years. This has resulted in loans between me and Jeremy totally over $800 per month in payments. I would love a way to extend my loan repayment so I could repay slower and with zero interest. And I think this would benefit everyone a lot more evenly.
But alas, my dream is not as attractive. And since the Department of Education considers both of our incomes in loan repayment instead of just mine for mine and his for his, we don't get any break and most likely wouldn't even qualify for the proposed loan forgiveness. I have seen proposed income guidelines of $100k. And if you are considering my income separate, I'm under but if you consider us joint, we are well over. So I'm doubtful any loan forgiveness would even happen for us.
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pinklady
Drama Llama
Posts: 5,538
Nov 14, 2016 23:47:03 GMT
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Post by pinklady on Aug 7, 2021 15:52:16 GMT
I’m a Democrat but I am completely against this student loan forgiveness bullshit. I’m all for lowering the cost of junior college and state university tuition, books, fees, etc but that’s where it ends for me.
Nobody forced these people to take out loans so they need to pay their bill.
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pinklady
Drama Llama
Posts: 5,538
Nov 14, 2016 23:47:03 GMT
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Post by pinklady on Aug 7, 2021 15:54:50 GMT
I would love to see two things happen 1) interest rate dropped to zero and 2) longer allowance of payback time. Yes! I totally support this.
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Aug 7, 2021 15:56:42 GMT
Post by dewryce on Aug 7, 2021 15:56:42 GMT
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Post by femalebusiness on Aug 7, 2021 16:00:05 GMT
To completely forgive student loans is a big F-You to all who struggled to pay for college and succeeded.
Education costs for Community & State College should be lowered. The cost is ridiculous.
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Post by crazy4scraps on Aug 7, 2021 16:16:38 GMT
To completely forgive student loans is a big F-You to all who struggled to pay for college and succeeded. Education costs for Community & State College should be lowered. The cost is ridiculous. 100% this. No one forces anyone to go to school, to choose the programs they choose, or take out the loans to fund it. There are loads of people who went or are going to school without the first thought about how they’re going to pay for it if/when they finish. I agree that community and state college costs should be lower to make the programs more accessible and higher education requirements should be much more focused to give students the practical knowledge they will need once they’re out in the work force without all the added fluff.
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SabrinaP
Pearl Clutcher
Busy Teacher Pea
Posts: 4,350
Location: Dallas Texas
Jun 26, 2014 12:16:22 GMT
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Post by SabrinaP on Aug 7, 2021 16:30:31 GMT
I’m also a liberal Democrat who is against loan forgiveness. I support making college costs less. I’m also in support of decreasing or eliminating interest rates and increasing loan repayment times. I would also like to see more kids qualify for assistance. Many kids fall into the gap of their parents make too much, but yet still struggle to pay for school.
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Aug 7, 2021 16:49:10 GMT
via mobile
Post by freecharlie on Aug 7, 2021 16:49:10 GMT
I do not think he will and I am okay with that.
I would like to see the interest rate lowered. Also, I'd like to see the path for teacher forgiveness that has bee there to be easier.
I do not agree with the people who say that it is wrong because they paid theirs off. I see that ad the same as any other "I do this, so others shouldn't need help."
Unfortunately, so many jobs now require specific degrees and college has exploded in price that lots of people are in over their heads.
Forgiving student loans to a point would allow that money to enter into the economy.
Again, I'm not for it. I am for lowering interest rates. I've also been paying on ours during this time. The zero percent interest is helping us pay it down faster.
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basketdiva
Pearl Clutcher
Posts: 3,619
Jun 26, 2014 11:45:09 GMT
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Post by basketdiva on Aug 7, 2021 16:59:42 GMT
I’m a Democrat but I am completely against this student loan forgiveness bullshit. I’m all for lowering the cost of junior college and state university tuition, books, fees, etc but that’s where it ends for me. Nobody forced these people to take out loans so they need to pay their bill. I agree. Those that took out loans for a degree in a low paying field complain the most about the unfairness of having to pay back their loans. Too bad- you knew the terms of the loan agreement you signed. I took out a loan and sacrificed to pay it off.
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Post by epeanymous on Aug 7, 2021 17:02:49 GMT
I would love it if he would. And I say that as someone who paid off my own, and whose kids won’t have college loans.
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Post by busy on Aug 7, 2021 17:08:57 GMT
To completely forgive student loans is a big F-You to all who struggled to pay for college and succeeded. Education costs for Community & State College should be lowered. The cost is ridiculous. I disagree. Would it be a big fuck you to all the people who’ve gone bankrupt or have their credit ruined from medical bills if we had better healthcare? The federal government certainly also bears responsibility for giving away huge loans to kids who aren’t even old enough to drink, have no proven ability to repay, will obligate them for decades, and can’t be discharged.
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Post by circusjohnson on Aug 7, 2021 17:25:23 GMT
I personally support longer payment periods and zero interest instead of outright loan forgiveness.
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pinklady
Drama Llama
Posts: 5,538
Nov 14, 2016 23:47:03 GMT
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Aug 7, 2021 17:31:07 GMT
Post by pinklady on Aug 7, 2021 17:31:07 GMT
The federal government certainly also bears responsibility for giving away huge loans to kids who aren’t even old enough to drink, have no proven ability to repay, will obligate them for decades, and can’t be discharged. Bullshit. These “kids” are actually adults. It’s time to grow up.
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Post by Darcy Collins on Aug 7, 2021 17:55:15 GMT
The federal government certainly also bears responsibility for giving away huge loans to kids who aren’t even old enough to drink, have no proven ability to repay, will obligate them for decades, and can’t be discharged. Bullshit. These “kids” are actually adults. It’s time to grow up. Not to mention the federal loan limits are actually pretty low to begin with $5,500 for freshman $6,500 for sophomore So it's not like they're throwing $50,000+ at an 18 year old who doesn't know anything. It's really the graduate/professional programs where amounts are large, and those are not kids by any means. And I'll just point out when people say state tuition is too high - that is very much a STATE problem - these university systems are run by states, not the federal government. There are tons of states with extremely reasonable tuition. And there are states with tuition higher than many private universities - yes I'm looking at you Vermont. And as a total PSA, if you live in a high tuition state and are frustrated for your high schooler, have them look at less "popular" states they may be very surprised that even out of state tuition is half that of your state in many places not even considering some very generous merit programs. Lowering interest rates, payment restructuring, forgiveness for specific high need occupations - all wonderful ideas. I'd even consider limited forgiveness for high need individuals - blanket forgiveness is as asinine as a blanket eviction moratorium.
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Post by onelasttime on Aug 7, 2021 18:02:46 GMT
As a Democrat I don’t support forgiving student debt. Nor do I support tuition free state owned 4 year colleges. But do support free 2 year junior college. I have no problem with no or very low interest rates on student debt. I have no problem working off a portion of the student debt by doing a year or two of community service. And here is why I’m not a fan of forgiving student debt. There are thousands and thousands of families that are being crushed by debt that has nothing to do with student debt. It’s debt from trying to provide the basics for their family. If this country wants to forgive debt what about this debt? I understand the burden student debt is to newly graduated kids. But these newly graduated kids, with their diplomas, have a potential earning ability that the breadwinners of the families above don’t have and will never have. And yet members of the Democratic Party are actively pushing to forgive student debt while ignoring the debt by these families. Talk about an elitist move on the part of the Democrats. Wanting to know more about forgiving student debt I asked my friend google and came up with this article from Brookings. IMO, this guy has some valid points. From Brookings…. link” Putting Student Loan forgiveness in perspective. How costly is it and who benefits.”
From the article “Even modest student loan forgiveness proposals are staggeringly expensive and use federal spending that could advance other goals. The sums involved in loan-forgiveness proposals under discussion would exceed cumulative spending on many of the nation’s major antipoverty programs over the last several decades. There are better ways to spend that money that would better achieve progressive goals. Increasing spending on more targeted policies would benefit families that are poorer, more disadvantaged, and more likely to be Black and Hispanic, compared to those who stand to benefit from broad student loan forgiveness. Indeed, shoring up spending on other safety net programs would be a far more effective way to help low-income people and people of color. Student loan relief could be designed to aid those in greater need, advance economic opportunity, and reduce social inequities, but only if it is targeted to borrowers based on family income and post-college earnings. Those who borrowed to get college degrees that are paying off in good jobs with high incomes do not need and should not benefit from loan-forgiveness initiatives that are sold as a way to help truly struggling borrowers.” & ”WHO BENEFITS FROM COMPARABLE TRANSFER PROGRAMS? Beyond the sums that debt forgiveness would represent, the beneficiaries of student loan forgiveness would be higher income, better educated, and whiter than beneficiaries of other transfer programs. The following table describes the economic and demographic characteristics of beneficiaries of selected income support programs as well as would-be beneficiaries of student debt forgiveness. Food stamps, for instance, serve households whose median income is about $19,000 a year (half are in poverty), and provide $2,300 annually for the average household. Medicaid households earn about $33,000; about 34 percent are below the poverty line. Families that claim the Earned Income Tax Credit—the largest cash income support for working families—earn about $36,500; their average annual benefit is about $2,200.”
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Post by sideways on Aug 7, 2021 18:54:44 GMT
To completely forgive student loans is a big F-You to all who struggled to pay for college and succeeded. Education costs for Community & State College should be lowered. The cost is ridiculous. No, it isn’t a F-you to those who struggled to pay for college. I don’t subscribe to the “I suffered, so should you” school of thought. The total cost of my education, undergrad and Master’s degree? $30,000. That includes room and board for three years. That will barely cover a year at a lot of schools these days. The tuition rate has far exceeded the minimum wage. It’s not nearly as easy to pay for college now. Our son’s education will cost us $120K by the time he’s done. Yes, he’s OOS, but he got scholarships that took his tuition cost down to in-state prices. No, nobody made anyone take loans, but what choice is there to get an education? Not everyone is in the position that my husband and I are in and can pay for their kids’ school without loans. Many people are drowning in student loans so bad that they can’t buy houses, get married, start a family, etc. That hurts the economy. College costs need to be reduced drastically. Still, that won’t help those who are done with school and paying exorbitant loans that can’t be discharged through bankruptcy. There needs to be forgiveness of at least a partial amount for those already with loans AND tuition costs need to go down so we don’t get in a similar mess again.
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Post by nlwilkins on Aug 7, 2021 18:56:52 GMT
I find the idea of student loans being forgiven troubling. How many of those loans went to students who did not finish? How many loans went to students who got degrees in areas that are not profitable? There should be some strict guidelines for who is eligible for student loans. It is like when the mortgages were issued to one and all regardless of their ability to afford the house they were purchasing. That did not turn out well. Now we need to revamp our student loan requirements and check out what schools they are attending.
One of my last jobs was at a university. I worked with a few people who owed more than than a home would cost. Payments on their student loans did not start as long as they worked at the university. So basically, they just worked there because of the loans. I was OK with that part, but what irritated me was the part that some of them went to very expensive schools knowing they would have to take loans out to attend. They wore their college rings proudly even though it was not paid for.
On the other hand, one of our universities had a program where basically, if you were admitted, you got scholarships and on campus jobs that made the tuition affordable. That is what we should strive for. To give college students a way to pay for their tuition without taking out such huge loans. Some places will even forgive tuition for students who go on to become teachers for a certain number of years.
While there are some students who need to get loans for their masters degrees, I feel, this also should be looked into very carefully. If you have reached the point that you already have a BS or a BA and still cannot make enough to pay for a masters, then maybe you are in the wrong field. OR if you cannot enter the workforce without the grad degree, there should be some sort of way to allow you earn as you go, such as internships and the like.
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Post by sideways on Aug 7, 2021 19:04:18 GMT
While there are some students who need to get loans for their masters degrees, I feel, this also should be looked into very carefully. If you have reached the point that you already have a BS or a BA and still cannot make enough to pay for a masters, then maybe you are in the wrong field. OR if you cannot enter the workforce without the grad degree, there should be some sort of way to allow you earn as you go, such as internships and the like. I guess nobody better go into teaching then. You know…a profession that requires people to go back for their Master’s but doesn’t pay for it. My niece is a teacher with five years full-time experience (two years subbing before that) and just finished her Master’s. She makes less than an assistant manager at Taco Bell.
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Post by Jamie on Aug 7, 2021 19:12:33 GMT
To completely forgive student loans is a big F-You to all who struggled to pay for college and succeeded. Education costs for Community & State College should be lowered. The cost is ridiculous. 100% agree. Some of us couldn’t afford to go to school but have fought our way to get to where we are today. Big slap in the face to forgive loans. Completely another discussion but those of us who didn’t go to school or didn’t have kids are being completely forgotten it feels like with all this assistance they want to keep giving. We have been affected by all of this as well. My bills keep going up just like everyone else’s
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Post by freecharlie on Aug 7, 2021 19:19:20 GMT
While there are some students who need to get loans for their masters degrees, I feel, this also should be looked into very carefully. If you have reached the point that you already have a BS or a BA and still cannot make enough to pay for a masters, then maybe you are in the wrong field. OR if you cannot enter the workforce without the grad degree, there should be some sort of way to allow you earn as you go, such as internships and the like. I guess nobody better go into teaching then. You know…a profession that requires people to go back for their Master’s but doesn’t pay for it. My niece is a teacher with five years full-time experience (two years subbing before that) and just finished her Master’s. She makes less than an assistant manager at Taco Bell. it is a good thing that some people go into the fields that need a masters or who won't pay well. Those careers need to be filled too. And when a BA for one year costs more than a teaching salary for a year, the teacher shortage is eat to see why. But apparently the government should give monthly payments to people with children and supplement unemployment, but student loans are the line that we draw.
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Aug 7, 2021 19:19:20 GMT
Merge likes this
Post by nlwilkins on Aug 7, 2021 19:19:20 GMT
While there are some students who need to get loans for their masters degrees, I feel, this also should be looked into very carefully. If you have reached the point that you already have a BS or a BA and still cannot make enough to pay for a masters, then maybe you are in the wrong field. OR if you cannot enter the workforce without the grad degree, there should be some sort of way to allow you earn as you go, such as internships and the like. I guess nobody better go into teaching then. You know…a profession that requires people to go back for their Master’s but doesn’t pay for it. My niece is a teacher with five years full-time experience (two years subbing before that) and just finished her Master’s. She makes less than an assistant manager at Taco Bell. I hear ya on this one. Teachers just don't make enough to support a family, let alone pay for grad school.
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Post by chaosisapony on Aug 7, 2021 19:23:32 GMT
I’m a Democrat but I am completely against this student loan forgiveness bullshit. I’m all for lowering the cost of junior college and state university tuition, books, fees, etc but that’s where it ends for me. Nobody forced these people to take out loans so they need to pay their bill. Same. I am totally in favor of reducing the interest rates and/or just eliminating interest on student loans all together. But bottom line, these people chose to borrow money and they need to pay it back.
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Post by mom on Aug 7, 2021 19:26:10 GMT
I’m a Democrat but I am completely against this student loan forgiveness bullshit. I’m all for lowering the cost of junior college and state university tuition, books, fees, etc but that’s where it ends for me. Nobody forced these people to take out loans so they need to pay their bill. I agree, completely. Lowering the cost will absolutely help but forgiving the loans is bullshit. Editing to add - lowering interest rates to zero or near zero would help. Or even extending the terms past 10 years. But a blanket loan forgiveness? Nope .
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Post by femalebusiness on Aug 7, 2021 19:28:31 GMT
To completely forgive student loans is a big F-You to all who struggled to pay for college and succeeded. Education costs for Community & State College should be lowered. The cost is ridiculous. No, it isn’t a F-you to those who struggled to pay for college. I don’t subscribe to the “I suffered, so should you” school of thought. The total cost of my education, undergrad and Master’s degree? $30,000. That includes room and board for three years. That will barely cover a year at a lot of schools these days. The tuition rate has far exceeded the minimum wage. It’s not nearly as easy to pay for college now. Our son’s education will cost us $120K by the time he’s done. Yes, he’s OOS, but he got scholarships that took his tuition cost down to in-state prices. No, nobody made anyone take loans, but what choice is there to get an education? Not everyone is in the position that my husband and I are in and can pay for their kids’ school without loans. Many people are drowning in student loans so bad that they can’t buy houses, get married, start a family, etc. That hurts the economy. College costs need to be reduced drastically. Still, that won’t help those who are done with school and paying exorbitant loans that can’t be discharged through bankruptcy. There needs to be forgiveness of at least a partial amount for those already with loans AND tuition costs need to go down so we don’t get in a similar mess again. I absolutely agree that college costs need to be reduced drastically. I also think those existing student loans should be almost interest free if not entirely interest free. But to just blanket forgive all student loans, no way.
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Post by busy on Aug 7, 2021 19:32:07 GMT
Bullshit. These “kids” are actually adults. It’s time to grow up. Not to mention the federal loan limits are actually pretty low to begin with $5,500 for freshman $6,500 for sophomore So it's not like they're throwing $50,000+ at an 18 year old who doesn't know anything. It's really the graduate/professional programs where amounts are large, and those are not kids by any means. And I'll just point out when people say state tuition is too high - that is very much a STATE problem - these university systems are run by states, not the federal government. There are tons of states with extremely reasonable tuition. And there are states with tuition higher than many private universities - yes I'm looking at you Vermont. And as a total PSA, if you live in a high tuition state and are frustrated for your high schooler, have them look at less "popular" states they may be very surprised that even out of state tuition is half that of your state in many places not even considering some very generous merit programs. Lowering interest rates, payment restructuring, forgiveness for specific high need occupations - all wonderful ideas. I'd even consider limited forgiveness for high need individuals - blanket forgiveness is as asinine as a blanket eviction moratorium. Those limits only apply to dependent students. Independent students and those whose parents can’t qualify for PLUS loans are eligible for more, up to almost $60k for undergrad. That’s a lot of debt before ever having had a “real” job. Our system is broken. Across the board loan forgiveness isnt going to solve everything but IMO some form of loan forgiveness is a piece of restructuring a disastrous, predatory situation.
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Post by iamkristinl16 on Aug 7, 2021 19:33:07 GMT
While there are some students who need to get loans for their masters degrees, I feel, this also should be looked into very carefully. If you have reached the point that you already have a BS or a BA and still cannot make enough to pay for a masters, then maybe you are in the wrong field. OR if you cannot enter the workforce without the grad degree, there should be some sort of way to allow you earn as you go, such as internships and the like. I guess nobody better go into teaching then. You know…a profession that requires people to go back for their Master’s but doesn’t pay for it. My niece is a teacher with five years full-time experience (two years subbing before that) and just finished her Master’s. She makes less than an assistant manager at Taco Bell. Same with the mental health field. When I finished my undergraduate degree (1997) I made $16,000. I learned pretty quickly that wasn’t going far and needed to get a masters degree. Of course I didn’t make enough to also save for the graduate degree first. And dh didn’t, either. I still don’t get paid a lot by most standards, but with the masters degree it is at least livable. Do I ever wish that I had gone into a higher paying profession? Sure. But if everyone did that, we would have an even more lopsided workforce with a lot of need in some areas. Part of this problem goes to the fact that society does not value a lot of people and the work that they do, resulting in good wages. As for student loan forgiveness…I would like to see lower interest rates and lower costs, particularly for state schools. I’m not ok with the proposal of only funding community college. I think a variety of programs should be included in any proposal.
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Post by sideways on Aug 7, 2021 20:08:07 GMT
No, it isn’t a F-you to those who struggled to pay for college. I don’t subscribe to the “I suffered, so should you” school of thought. The total cost of my education, undergrad and Master’s degree? $30,000. That includes room and board for three years. That will barely cover a year at a lot of schools these days. The tuition rate has far exceeded the minimum wage. It’s not nearly as easy to pay for college now. Our son’s education will cost us $120K by the time he’s done. Yes, he’s OOS, but he got scholarships that took his tuition cost down to in-state prices. No, nobody made anyone take loans, but what choice is there to get an education? Not everyone is in the position that my husband and I are in and can pay for their kids’ school without loans. Many people are drowning in student loans so bad that they can’t buy houses, get married, start a family, etc. That hurts the economy. College costs need to be reduced drastically. Still, that won’t help those who are done with school and paying exorbitant loans that can’t be discharged through bankruptcy. There needs to be forgiveness of at least a partial amount for those already with loans AND tuition costs need to go down so we don’t get in a similar mess again. I absolutely agree that college costs need to be reduced drastically. I also think those existing student loans should be almost interest free if not entirely interest free. But to just blanket forgive all student loans, no way. Blanket forgiveness? No. But there’s got to be a way to forgive a partial amount for those who need it.
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Aug 7, 2021 20:16:53 GMT
Post by cindyupnorth on Aug 7, 2021 20:16:53 GMT
I’m also a liberal Democrat who is against loan forgiveness. I support making college costs less. I’m also in support of decreasing or eliminating interest rates and increasing loan repayment times. I would also like to see more kids qualify for assistance. Many kids fall into the gap of their parents make too much, but yet still struggle to pay for school. 100% this.
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Post by aj2hall on Aug 7, 2021 20:57:53 GMT
I interview prospective students for my alma mater. One student had applied early decision to another school and been accepted but the financial aid looked at the incomes of her parents and both step parents, all 4. I don't know if all schools consider all 4 incomes, but this seemed unfair to children of blended families. What if the mom only recently remarried, the step dad is expected to contribute to her education? I know every situation is unique, but this seemed to unfairly penalize children from blended families. Anyway, I think our financial aid systems might need a little reform. And we absolutely need to do something about the skyrocketing cost of college. The cost of one year at a private college, around $70,000, is more than some graduates will make in a year.
eta - Just wanted to clarify, I'm not suggesting that taxpayers should fund tuition at private schools, just that the cost is out of reach for so many families. As far as debt forgiveness, I'm undecided, but possibly partial loan forgiveness up to 10,000? I know that won't make a dent in some situations, but I would like to see it targeted at families where it could really make a difference.
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Aug 7, 2021 21:02:36 GMT
Jamie likes this
Post by cajeanne on Aug 7, 2021 21:02:36 GMT
The cost of one year at a private college, around $70,000, is more than some graduates will make in a year. I agree the cost has gotten crazy out of hand but it's a CHOICE. No one makes you go to those schools. If someone can't do simple math to realize there is no way to pay off those debts, I don't want my taxes to pay for their choice. People who didn't go to college and found other ways to provide for their families shouldn't have to foot the bill either. JMHO of course.
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