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1StrongBlackMan

(31,849 posts)
Fri Jul 11, 2014, 07:37 PM Jul 2014

Nearly everyone agrees ...

the cost of Higher Education (college/Grad School/Professional School) is much too costly, especially for State Colleges and Universities.

Those that have graduated from college since 2005 have been particularly hard hit, as they were facing a really tough job market ... shortly after, or just when, they started the pay back period. First, the job market was hit by 9/11, then the "great recession."

If you had the power to wipe out (or significantly reduce) the debt balance for anyone that took out an educational loan in the 2000s, would you do so?

Would your decision be affected by the policy not benefitting you personally (or, knowing that you had to take out and pay back every penny of your educational loans)?

45 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Nearly everyone agrees ... (Original Post) 1StrongBlackMan Jul 2014 OP
Yes and no Tetris_Iguana Jul 2014 #1
I am leery of such a system ... 1StrongBlackMan Jul 2014 #2
The safety valve in my ideal system Tetris_Iguana Jul 2014 #6
+100000000 hughee99 Jul 2014 #8
That's never been necessary before kcr Jul 2014 #5
Partially correct Tetris_Iguana Jul 2014 #11
Liberals and their thinking that there's an endless money supply, huh? kcr Jul 2014 #12
Don't turn it into something partisan. Tetris_Iguana Jul 2014 #16
I'm not the one that turned it partisan kcr Jul 2014 #17
steer ... guides ... finds their strengths early on and enhances them. Tuesday Afternoon Jul 2014 #40
Yes, exactly Tetris_Iguana Jul 2014 #41
My personal strategy... Wounded Bear Jul 2014 #3
How ever the majors must be in yeoman6987 Jul 2014 #24
I strongly disagree with this. Squinch Jul 2014 #26
Cool yeoman6987 Jul 2014 #30
really? hfojvt Jul 2014 #33
Education is the lighting of a fire... Wounded Bear Jul 2014 #34
Thank you. CrispyQ Jul 2014 #43
The thing is... Wounded Bear Jul 2014 #44
I paid my way on short-term loans and yes, I'd remove/reduce education debt REP Jul 2014 #4
I did too, and I don't know how long you have been out, but school is a LOT more expensive than Squinch Jul 2014 #25
That's why I'm for reducing/removing the debt! REP Jul 2014 #31
Same with me. I worked 3 jobs. My niece, who just graduated, did too, but she ended up with Squinch Jul 2014 #39
What Oregon is doing (and Michigan, I think) to address student debt going forward Bluenorthwest Jul 2014 #7
that sounds like a good plan to me ! nt steve2470 Jul 2014 #45
Yes , I would wipe out/reduce the debt balance octoberlib Jul 2014 #9
I think that at the very least we could forgive the interest Gormy Cuss Jul 2014 #10
Tn has free college. Separation Jul 2014 #13
Okay, say if you did that . . . YarnAddict Jul 2014 #14
Conveniently enough, that's already been looked into kcr Jul 2014 #15
Making the debt practically dischargeable would go a long way to solving the problem. Tetris_Iguana Jul 2014 #18
Yep, at a minimum kcr Jul 2014 #19
I don't have a problem with for profit colleges ... 1StrongBlackMan Jul 2014 #36
I think they should at least be regulated more kcr Jul 2014 #42
My claim comes from YarnAddict Jul 2014 #20
No one is disputing the've gone up kcr Jul 2014 #21
Much like medical... Wounded Bear Jul 2014 #35
+1 n/t 1StrongBlackMan Jul 2014 #37
I'm not talking about ... 1StrongBlackMan Jul 2014 #23
Both my kids graduated... one_voice Jul 2014 #22
Your last statement hit the nail on the head. Curmudgeoness Jul 2014 #28
You're absolutely right.. one_voice Jul 2014 #32
I'm skeptical gollygee Jul 2014 #27
True ... 1StrongBlackMan Jul 2014 #38
Maybe we should think of linking funding to applying to schools that offer bang for the buck Babel_17 Jul 2014 #29

Tetris_Iguana

(501 posts)
1. Yes and no
Fri Jul 11, 2014, 07:43 PM
Jul 2014

We should move to a system like Germany where higher education is at no cost but the total cost to the tax payer is limited by steering people to the appropriate schooling early on.

My suspicion is that the vast majority of companies only need employees with a two year degree.

 

1StrongBlackMan

(31,849 posts)
2. I am leery of such a system ...
Fri Jul 11, 2014, 07:46 PM
Jul 2014

that "steer(s) people to the appropriate schooling early on."

School systems have been steering Black, Hispanic and Female students for years.

Tetris_Iguana

(501 posts)
6. The safety valve in my ideal system
Fri Jul 11, 2014, 07:58 PM
Jul 2014

is that anyone can gain entrance to a full four year degree at any time either through testing and/or life experience.

If you can't make the grade or do the experience on your own, it just wasn't meant to be.

Like any system, it's not perfect, but limiting access through enforced basic standards is the only realistic way to preserve quality.

As for learning for fun- improve K-12, don't pass the buck to college. That's whats going on right now.

kcr

(15,319 posts)
5. That's never been necessary before
Fri Jul 11, 2014, 07:57 PM
Jul 2014

and it's a bad idea. College costs haven't risen because we don't do things like Germany.

Tetris_Iguana

(501 posts)
11. Partially correct
Fri Jul 11, 2014, 08:21 PM
Jul 2014

College costs have risen because now everyone supposedly needs something that is guaranteed to be paid for from an unlimited money supply.

Take away one of those two things, and costs get under control.

kcr

(15,319 posts)
12. Liberals and their thinking that there's an endless money supply, huh?
Fri Jul 11, 2014, 08:27 PM
Jul 2014

How stupid are they?

There's never been an unlimited money supply, yet that didn't stop funding in the past.

Tetris_Iguana

(501 posts)
16. Don't turn it into something partisan.
Fri Jul 11, 2014, 08:33 PM
Jul 2014

The fact is true regardless of who promotes it.

The one special distinction with student loans is that we're forcing entire generations into debt slavery for it.

kcr

(15,319 posts)
17. I'm not the one that turned it partisan
Fri Jul 11, 2014, 08:35 PM
Jul 2014

You're the one that brought up unlimited money supply as if anyone was claiming this was the case.

Who's forcing them into debt slavery? The banks who got into the business of financing college tuition and lobbying for laws making them impossible to discharge. This gave colleges no incentive to keep costs down.

Wounded Bear

(58,698 posts)
3. My personal strategy...
Fri Jul 11, 2014, 07:49 PM
Jul 2014

would be two fold.

1. Forgive all the debt owed to 'public' universities.

2. Re-coup control over said public schools and fully fund them through socialism. Anybody who has high enough grades gets a basic 4 year degree. In effect, make basic 4 year college funded like K-12 used to be. (I'd do the same for them, too.)

In the long run, it would be cheaper and better for the students and more 'productive' for society in general.

End the for profit monopoly on higher education nation-wide.

 

yeoman6987

(14,449 posts)
24. How ever the majors must be in
Fri Jul 11, 2014, 09:21 PM
Jul 2014

Math, engineering, business, architecture, medicine, dentistry, law and Education. Anything else is paid by the students. Absolutely no majors in liberal arts or social science degrees or even worse midevil studies will be paid for by the tax payers.

 

yeoman6987

(14,449 posts)
30. Cool
Fri Jul 11, 2014, 10:17 PM
Jul 2014

The reason is too many are majoring in non employable majors. Most Sociology majors are in retail or fast food.

hfojvt

(37,573 posts)
33. really?
Sat Jul 12, 2014, 12:36 AM
Jul 2014

because I've always seen lots of jobs advertised for social work.

and my degree in math, generally is NOT worth the paper it's printed on

I work as a janitor, and before that, as a factory temp. A factory temp who could solve a programming problem on a million dollar bosch line, http://journals.democraticunderground.com/hfojvt/12 but still a factory temp.

Wounded Bear

(58,698 posts)
34. Education is the lighting of a fire...
Sat Jul 12, 2014, 12:44 AM
Jul 2014

Not the filling of a bucket.

I forget the source, but it's true.

CrispyQ

(36,502 posts)
43. Thank you.
Sat Jul 12, 2014, 01:03 PM
Jul 2014

I liked that so much I looked it up for you.


"Education is not the filling of a pail, but the lighting of a fire."
~William Butler Yeats

Love it!


Wounded Bear

(58,698 posts)
44. The thing is...
Sat Jul 12, 2014, 01:07 PM
Jul 2014

that conservatives too often say 'education' and really mean 'training.' Sure, people should develop job skills, but what's really needed is critical thinking skills. All too often, our kids don't get that and we can see that in the dumbing down of America.

REP

(21,691 posts)
4. I paid my way on short-term loans and yes, I'd remove/reduce education debt
Fri Jul 11, 2014, 07:52 PM
Jul 2014

In my ideal world, higher education would be a right, available to all, to further knowledge and not just a ticket to a less dreadful job. But I'm very naïve in many ways. I still think quality high education (not just 4-year vo-tech dressed up as college) should be affordable to anyone.

Squinch

(50,993 posts)
25. I did too, and I don't know how long you have been out, but school is a LOT more expensive than
Fri Jul 11, 2014, 09:28 PM
Jul 2014

it was when I went. I cannot believe the level of debt kids come out with today.

That level of debt is just terrible for all of us. We have a whole generation of people who can't afford to do all the things that people do in their twenties and thirties: buy or rent residences and cars, furnish residences, have kids, start businesses, etc. We're all going to feel the effects of the slowdown when no one is making any major purchases. And the debt produces nothing and benefits no one but Chase and Citi and all the other banks that float those loans.

REP

(21,691 posts)
31. That's why I'm for reducing/removing the debt!
Fri Jul 11, 2014, 11:15 PM
Jul 2014

Back when I was in college, it nearly killed me to go through the way I did but the thought of that much debt scared the crap out out of me. Now many don't have a choice. That's not right.

Squinch

(50,993 posts)
39. Same with me. I worked 3 jobs. My niece, who just graduated, did too, but she ended up with
Sat Jul 12, 2014, 10:11 AM
Jul 2014

6 times the debt that I did.

I think this is a great idea.

 

Bluenorthwest

(45,319 posts)
7. What Oregon is doing (and Michigan, I think) to address student debt going forward
Fri Jul 11, 2014, 08:08 PM
Jul 2014

What we are putting in place in Oregon is a 'Pay It Forward' tuition program, you pay no tuition then later, when working, you contribute a preset percentage of your income for a set period of time. Make more, pay more forward, make less, pay less forward. No one paying until they are earning. Everyone can go without tuition costs.
This plan was passed unanimously in the Oregon Congress the same day the US Congress jacked up student loan rates.

There are several types of debt that I would like to see forgiven, educational and medical to start with. People should not be indebted for years simply for getting an education or a life saving procedure. It's just wrong.

octoberlib

(14,971 posts)
9. Yes , I would wipe out/reduce the debt balance
Fri Jul 11, 2014, 08:11 PM
Jul 2014

and no, it wouldn't benefit me personally. In my perfect world, all higher education would be free.

Gormy Cuss

(30,884 posts)
10. I think that at the very least we could forgive the interest
Fri Jul 11, 2014, 08:19 PM
Jul 2014

and tie the repayment schedule to the person's wages. High wage, pay on the original schedule. Low wage, pay little or nothing.

I had loan debt that seemed insurmountable to me but compared to what today's students are taking on it was peanuts. I walked into a tough job market too but not as tough as this one.

I think that going forward we should explore making public undergraduate education free of tuition. It's an investment in our future.

 

YarnAddict

(1,850 posts)
14. Okay, say if you did that . . .
Fri Jul 11, 2014, 08:29 PM
Jul 2014

Colleges would jack up their tuition by double or triple, students would borrow whatever they needed to cover the increased costs, and sooner or later someone else would forgive the loans. Someone (banks? government? taxpayers?) would be out a whole lot of $$$ with o end in sight.

Maybe a better idea would be to look into why college costs are so astronomical in the first place.

kcr

(15,319 posts)
15. Conveniently enough, that's already been looked into
Fri Jul 11, 2014, 08:33 PM
Jul 2014

It's the banks getting in the game and financing college costs and then lobbying for laws making the debt impossible to discharge. So, I'm not sure your claim that this would jack up costs comes from.

Tetris_Iguana

(501 posts)
18. Making the debt practically dischargeable would go a long way to solving the problem.
Fri Jul 11, 2014, 08:35 PM
Jul 2014

I'm with you 100% there

 

1StrongBlackMan

(31,849 posts)
36. I don't have a problem with for profit colleges ...
Sat Jul 12, 2014, 08:15 AM
Jul 2014

so long as public colleges are available and funded.

kcr

(15,319 posts)
42. I think they should at least be regulated more
Sat Jul 12, 2014, 12:10 PM
Jul 2014

As they tend to operate now, with the false advertising and exorbitant tuition, they're often just a scam that leaves the victims exactly where they were before plus massive debt.

 

YarnAddict

(1,850 posts)
20. My claim comes from
Fri Jul 11, 2014, 08:37 PM
Jul 2014

the historical fact that college costs have increased astronomically in the last 30 or so years.

besides, if someone is just going to forgive the debt, why shouldn't colleges charge whaatever they want? Fat salaries for admininstrators, more administrators, etc. No one loses--except whoever is holding the debt.

kcr

(15,319 posts)
21. No one is disputing the've gone up
Fri Jul 11, 2014, 08:39 PM
Jul 2014

Why would they then charge whatever they want? That makes no sense. Absent the funding that used to be a source, who can afford the hight costs without the loans?

Wounded Bear

(58,698 posts)
35. Much like medical...
Sat Jul 12, 2014, 12:48 AM
Jul 2014

We are fast losing our education system and replacing it with an education industry. The cost increases are largely for peripheral issues that don't have to be there. If we reverse the privatization and profitization in education, costs would normalize in a few years IMHO.

 

1StrongBlackMan

(31,849 posts)
23. I'm not talking about ...
Fri Jul 11, 2014, 08:57 PM
Jul 2014

the future ... I am talking about the $2 trillion bubble that's about to pop because this group of students have stood a chance.

one_voice

(20,043 posts)
22. Both my kids graduated...
Fri Jul 11, 2014, 08:48 PM
Jul 2014

within the last 8 years both with Masters.

The amount it cost for their education was ridiculous. I'm speaking of just tuition. I was with my daughter when she bought books for a semester and it was $900. For my son he'd spend $600 and the sell back would be $150 if he was lucky.

State Universities should come at a huge discount to in-state students. The cost of an education vs what the average middle class family is making it impossible for kids to go to college. And the poor, well forget about it. They're not even considered.

Used to be even poor kids could work summers/part time and go to school. Shit, you can't work full time and afford school. I'm all for taxes paying for college, everyone should have a shot.

It's making the divide between 'us' and 'them' bigger, imo.

Curmudgeoness

(18,219 posts)
28. Your last statement hit the nail on the head.
Fri Jul 11, 2014, 09:57 PM
Jul 2014

The less affordable to lower and middle income students, the less chance they have to get ahead in life. And the wealthy will always be able to afford college.

I have another concern too, and that goes back years---there are too many jobs that have no need for a college degree that are requiring one. Some of the most mundane jobs are asking for degrees, and a high school education would be an over-qualification.

one_voice

(20,043 posts)
32. You're absolutely right..
Sat Jul 12, 2014, 12:23 AM
Jul 2014

about jobs requiring degrees that shouldn't. Not just that but they're paying very low even with degrees. Unreal what some jobs are paying people with degrees.

When I graduated from high school--back with Barney Rubble --you could actually opt not to go to college and still have a decent job. Not anymore, you have to have a degree to sell phones. Crazy. I worry for anyone that cannot get the education.

gollygee

(22,336 posts)
27. I'm skeptical
Fri Jul 11, 2014, 09:56 PM
Jul 2014

of wiping out a debt that affects the middle class so much more than the poor. Why is that the debt that is forgiven? Why not medical debt?

 

1StrongBlackMan

(31,849 posts)
38. True ...
Sat Jul 12, 2014, 08:33 AM
Jul 2014

Educational debt affects the middle class much more than the poor: but I suspect it's only because the poor don't get the loans/education, in the first place (for a number of reasons).

Than again, medical debt affects the medical class more than the poor, alos for a number of reasons.

Why forgive educational loans as opposed to medical debt ... well ... because that's what I was thinking about.

Babel_17

(5,400 posts)
29. Maybe we should think of linking funding to applying to schools that offer bang for the buck
Fri Jul 11, 2014, 10:09 PM
Jul 2014

What I've read indicates that there's been gouging going on due to our willingness to go deep into debt for the right diploma. More government financing of these overpriced universities won't, of itself, reverse that trend. We need more discussions about this.

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