What_Yr_Is_IT

What_Yr_Is_IT t1_j9lzj9w wrote

Reply to comment by jrolumi in Many Americans need Wendy’s dumpster to afford student loan payments without Biden's forgiveness plan: Survey by TheFleshGordon

The next 10-15 years of students are coming Into the college conversation much later than the students of 10-15 years ago. Back then, we were told we needed it. Students today and the future students of tomorrow have much more history to look back on to make an “educated” decision on whether it’s a good idea to go or not.

$10k could halve some borrowers debt, at the bare minimum it would lower payments.

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What_Yr_Is_IT t1_j9kofv3 wrote

Reply to comment by jrolumi in Many Americans need Wendy’s dumpster to afford student loan payments without Biden's forgiveness plan: Survey by TheFleshGordon

"push the can down the road"

that makes no sense, how is this pushing the can down the road?

So today, you can claim bankruptcy on credit cards, million dollar mortgages and businesses, personal loans, business loans, vehicles, etc etc, but NOT student loans. Also, the same people who are hating on student debt forgiveness are the same people who have filed bankruptcy at some point in their life or had COVID loan forgiven.

You want to fix the problem?

  1. Allow bankruptcy and flush the system out of people who cannot pay
  2. Have a free public state education option to give colleges real competition so prices would naturally fall back to earth.
  3. Have more grants for free education for trade labor to further pull demand away from colleges
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What_Yr_Is_IT t1_j9k4x7v wrote

Reply to comment by The_Dancing_Dolphin in Many Americans need Wendy’s dumpster to afford student loan payments without Biden's forgiveness plan: Survey by TheFleshGordon

Supply and demand drove the cost of education bonkers. There needs to be a rebalancing between manual labor careers and degree level careers.

My parents sent me to college because they didn’t want me to work as hard as they did, but they had no clue what that never meant or what it looked like or what their responsibilities would be. They just thought, hey, I send my kid here and I won’t have to worry about anything!

Today I keep hearing, “electricians make 6 figures” sure, but if you add a million more electricians to the mix to fill the gaps, salaries and job openings will plummet…supply and demand

The issue to me is, colleges are “no risk” meaning their debt is higher quality, it comes from the government, can’t be defaulted on or claim bankruptcy on, sure it’s not fool proof, but there’s a reason there was a huge spike in “for profit” schools.

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What_Yr_Is_IT t1_j9k3vw0 wrote

Reply to comment by dj92wa in Many Americans need Wendy’s dumpster to afford student loan payments without Biden's forgiveness plan: Survey by TheFleshGordon

This is my point EXACTLY. In order to make it today, you need to spend money on a degree. Sure yea you can be an entrepreneur and start your own business, but if it was that easy, everyone be doing it. You can farm, but that’s also highly subsidized. You can code, but those jobs are being farmed out to India. There are other means to make a living, but to become an executive at a firm today, the requirements are totally different than what they used to be

I tried to start my own business and failed, cost me $20k

I have my MBA from an M7, and pulling in 6 figures and now having a child. My first. At 40. And freaking out how to afford to pay for him. My boomer parents at this time had 4 kids, in and out of 3 houses, multiple cars, etc. both had union jobs working for 1 company their entire lives with a pension.

They’re anti-union, hate any talk of helping student debt relief, etc. they’ve created the world we’re in today and the hurdles for their kids to climb and are actively trying to make it worse while complaining we live in their basements still.

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