According to the Home News Tribune Editors, President Obama and Congress must give immediate consideration to recovery packages that provide for billions of dollars in student loan debt forgiveness.
“Look at student loan debt forgiveness as the jump start on the economic engine. By forgiving $70 billion in federal student loans immediately, and dedicating stimulus funding to help pay down tens of... billions more in private lending debt, the government can free billions in graduates’ income that can be expected to be put directly into the economy.. . "
So anyone that wants to sign up for college and get a free education is not responsible for paying off their loans? Those who did not have the means or the funds to attend would receive the brunt of this, if that were to happen, guess who would have a leg up on getting a job? That would mean the lesser educated working class would be out of work, so how about debt forgiveness on their mortgages so they don’t lose their homes? What happens to those who worked their way through college to get an education, are they entitled to a refund?
Having Obamacare forced upon the American public is OK, and forgiving debt on those who had the means and ability to attend college would be OK. Those with an education would be able to afford to pay for the government mandated health care, as those who did not go to college or those who did and dropped out because they had enough sense to realize that had to work to start paying down their debt, won’t be able to make mandated payments.
Anyone receiving an education gaining over $50,000 in debt had better make sure they can get a job in their field earning enough to pay it back, before they continue getting deeper in debt.
The article continues to state “. . . graduates can’t shed their student loans, even in bankruptcy. With fewer well-paying jobs available for new graduates, it can be assumed those degrees are worth a tiny fraction of their cost.” Knowing that . . . why would anyone knowingly continue to go deeper into debt?
Those going to college must realize all that debt they racked up needs to get paid back at some point, or are they oblivious to how it is going to get paid off? Or does the realization for graduates only set in after commencement when the first note becomes due?
At what point does a college student realize that it is impossible to pay back what they owe, halfway through their education or just before they graduate?
Perhaps college consultants need to advise students of going to a less expensive college, or the reality of finding a job in their field of study, and the odds of receiving that position due to the competition upon graduation.
“Look at student loan debt forgiveness as the jump start on the economic engine. By forgiving $70 billion in federal student loans immediately, and dedicating stimulus funding to help pay down tens of... billions more in private lending debt, the government can free billions in graduates’ income that can be expected to be put directly into the economy.. . "
So anyone that wants to sign up for college and get a free education is not responsible for paying off their loans? Those who did not have the means or the funds to attend would receive the brunt of this, if that were to happen, guess who would have a leg up on getting a job? That would mean the lesser educated working class would be out of work, so how about debt forgiveness on their mortgages so they don’t lose their homes? What happens to those who worked their way through college to get an education, are they entitled to a refund?
Having Obamacare forced upon the American public is OK, and forgiving debt on those who had the means and ability to attend college would be OK. Those with an education would be able to afford to pay for the government mandated health care, as those who did not go to college or those who did and dropped out because they had enough sense to realize that had to work to start paying down their debt, won’t be able to make mandated payments.
Anyone receiving an education gaining over $50,000 in debt had better make sure they can get a job in their field earning enough to pay it back, before they continue getting deeper in debt.
The article continues to state “. . . graduates can’t shed their student loans, even in bankruptcy. With fewer well-paying jobs available for new graduates, it can be assumed those degrees are worth a tiny fraction of their cost.” Knowing that . . . why would anyone knowingly continue to go deeper into debt?
Those going to college must realize all that debt they racked up needs to get paid back at some point, or are they oblivious to how it is going to get paid off? Or does the realization for graduates only set in after commencement when the first note becomes due?
At what point does a college student realize that it is impossible to pay back what they owe, halfway through their education or just before they graduate?
Perhaps college consultants need to advise students of going to a less expensive college, or the reality of finding a job in their field of study, and the odds of receiving that position due to the competition upon graduation.
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