Should student loan DEBT be Forgiven??!!
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As the media coverage of the student loan rate debate continues, Americans are becoming more opinionated over the subject. Not since the modern re-creation of the Department of Education in 1979 by Pres. Jimmy Carter, has there been so much scrutiny. Taking it one step further, there is now open discussion about the possiblity of students having their loans "forgiven" by the Federal government which guarantees those loans.
Advocates of student loan forgiveness draw attention to the overwhelming negative data regarding higher education. How 1/2 of college graduates are unemployed or underemployed. How the student loan bubble is nearing 1 trillion dollars and could mirror the housing market. And also, the inability to have these loans forgiven by bankruptcy protection.
It is in this climate of desperation that members of the Occupy movt as well as other organizations acclamate the federal govt to allow these citizens to have their student loans forgiven, in order to stimulate the economy. The 60-70 billion dollars in annual payments can go directly into the local economies and produce substantial growth.
Opponents of the measure cite that we cannot afford to add another Trillion dollars to our deficit and already MASSIVE national debt. They addd that in order to pay for this debt distribution taxes will need to be raised on all taxpayers. Furthermore, they claim it is unfair to those who worked hard and took responsibility for themselves.
In 1979 the avg undergraduate degree was around $5,000 compared to $25,000 or more today. With education costs out of control, and entitlement spending at 50% of the annual budget, many Americans are asking...
Should student loan DEBT be Forgiven??!!
Top Opinion
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teigan 2012/04/29 19:55:35No, it should not be forgiven
+9No way, this only teaches that you don't have to be responsible for your debts. It's unfair to those that have struggled to pay off their obligations and future students that will be accountable to pay theirs off. College students that can't find jobs give a little more thought to who they will vote for in the next election. They fell for the hope and change and are now living with their parents because there are no jobs and no future for them. These are the same students that voted for what they are living through now.
it is a contract conciously signed and accepted as part of your future going forward.
If people want to go then go slowly and PAY FOR IT. That is WHY we didn't ALL used to go.
It does NOT benefit us as a nation to do this.
We need lawyers, engineers, Drs, etc, but not every child will be one. Not every child wants to be.
The countries that are more educationally "successfull" know this. They teach PRACTICAL SKILLS to students who won't be attending college. Heck when I was in school there were two different math paths. One was math one, math 2, and consumer math. Consumer math is balancing a checkbook, figuring interest rates. Things you WILL USE if you never see the inside of another calssroom. The other was algebra, trig, geometry. For those intending to further their educations.
You CAN go to college with NO LOANS, it just takes longer than 4 years. But the things in life worth having you will WORK FOR. They "are not free" to go to another old saying.
All I can say if he thinks that was the most ignorant thing he has ever heard he has not heard much..... :-)