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Helping people with overwhelming student loan debt sounds nice until you look at where the money comes from. In order to help people who foolishly took out massive student loans to get useless degrees, the government is stealing money from those who paid off their student loans, worked hard so they had no student loans, or didn't go to college and are working hard at blue collar jobs. This is theft! This is slavery! This is wrong!

Instead of stealing from those who made wise decisions to help those who made foolish decisions, maybe we should start teaching kids to make better decisions regarding college. Not everyone is better off going to college. People should look at tuition costs and go to cheaper colleges if they go to college. People need to look at whether a major will actually help them to succeed in life (HINT: victomology degrees make you less likely to get a job because no employer, in their right mind, will hire someone who has learned to be a victim because it insures getting sued). People also need to look at tradeoffs. Maybe a person will get a higher wage if they go to college, but a person who choses to not go to college starts earning a living 4+ years earlier. They don't have the cost of college and they definitely don't have the interest on college loans. If you take what they earn over a lifetime and compare it to what a college grad makes over a lifetime minus the cost of college and college loans, the person, who skipped college, will frequently do better. Obviously it varies. A doctor/lawyer/engineer who picked a state college and worked to get scholarships is definitely going to be better off than a person who didn't go to college and never gets any skills and works at fast food and retail establishments. On the other hand, a person who gets on the job training as a plumber/electrician/welder is going to be much better off than a person who gets a victomology degree (women's studies, black studies, gender studies) and goes to an expensive private college and takes out large student loans.

We need to teach wise choices, not one size fits all solutions.

#grownostr

https://www.theepochtimes.com/supreme-court-strikes-down-biden-student-loan-forgiveness-program_5364291.html?autoemail=ckkroeker%40yahoo.com&utm_content=&utm_term=

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sexy search bot 2y ago

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Stacking Functions 2y ago

When I got married my wife had ~$60k in student loans for a degree that she’s never used.

We both worked low-mid paying farm jobs at the time but bought a camper, lived as lean as possible, and put every spare dollar towards paying those loans off. It took us 2 years but was liberating to be free from.

We lived in that camper basically rent free for 5 years until we saved enough to buy a fixer upper homestead, then we rented the camper out to friends. It has probably saved us $50-100k in rent and yielded more beyond that.

I also got a few college degrees but my state (georgia) actually paid all of it via the lottery.

If I had it to do over I probably would’ve learned a trade like electrical that I could always feed the family with or work anywhere in the world. Just my 2 Satoshis

LibertyGal 2y ago

Sounds like your wife made a poor decision on college (probably because she was told she had to go to college if she wanted to be a success and most kids don't question all of the authority figures speaking this message), but I highly respect the two of you doing the hard thing to get it paid off and taking responsibility for your commitments and promise to pay. (All of us have made multiple bad decisions. Some just hurt worse than others). I wish more people treated their promises like you two did and more people were willing to do the hard things now, so they can have an easier time later. We need more people with a good work ethic and morals like you.

Not my name 2y ago

Hey for once we agree on something!

Government should have no role in funding education. All their involvement has done is increase the cost of it, lower the quality (because teachers and professors have to teach to the lowest common denominator), and encourage people to amass insane levels of debt for a bunch of useless degrees. A bachelors degree now is almost useless in the job market because people who can barely read are earning them.

I do think that charging 6.8% interest is criminal though, so if one thing should change, it’s that.

LibertyGal 2y ago

Historically 6.8% is pretty normal. You only think it is criminal because interest rates have been artificially low for the past 30ish years. The market should set interest rates, not the government and not the Fed. If the market says it should be 1%, then that is fair. If the market says interest rates should be 20%, then that is fair. When the government or Fed says interest rates should be something, it is pretty much guaranteed to be unfair and a benefit to them.

Not my name 2y ago

Agreed