A
anon_6hv78pr714xta
Guest
Tuition is 60k. Stanford/Yale are free for lower income. And those two are really cherry picking the most expensive schools, along with NYC schools
$71k hell. That's not even half of a first year salary for a yale grad
So I know this situation is accurate because I talked to girl late this afternoon. Husband 27 wife 24. Both college grads and both have good jobs. They have $300,000 like new home, just added $60,000 two car garage with bonus room upstairs. They have 4 cars. It appears the wife who has a student loan that she’s easily making monthly payments on will qualify for the $10,000 forgiveness.
Conservatives already attack universities. I'm just suggesting a way for them that might make more political hay. I'm happy for you to stick with your "f*ck you" general approach to people's problems.
COA, not tuition (rent is like 3-4K+). Stanford just started the free tuition policy like last week.
But yes, cherry picking from one I know more about.
10k is weird. Maybe they should have limited it to juco or something. Just seems like more poorly planned gov waste. Some kid with $190k in debt out of ND making $75k is getting $10k forgiven? What's the point
You definitely got the gist with your f*ck you assertion of my approach to idiots who want me to pay for their stupidity. There are people that deserve my help, & get it regularly. People that made a decision to live beyond their means & expect me to pay for it can suffer. You feel people don’t need to be accountable for their bad decisions, than perhaps you should put your money where your mouth is & start your own charity for college relief & low interest rate loans. Or you can continue to give non answers & post memes like a dullard…
Conservatives already attack universities. I'm just suggesting a way for them that might make more political hay. I'm happy for you to stick with your "f*ck you" general approach to people's problems.
One size doesn't fit all, but it sure is easier.
Joe was in a no win situation. He had committed to doing something, but nothing he can do will do much.
Not sure what your rates were, but today Stafford loans are below 5%. Other loans are in the 7% range. In other words, historically low.
A
anon_6hv78pr714xta
Guest
This is where Biden being a moderate comes in. Warren wanted $100,000 or more, some wanted unlimited. $10,000 was his moderation.
$10k was dumb. I’ve looked at data that does provide some support for the move but that’s not enough.
Removing interest accrued and lowering IDR payment amounts to something realistic (gov doesn’t understand current COL) would have been satisfactory.
Otherwise, cancel up to $100k. That would be a boon to the economy.
Welcome to the dark side. Unfortunately we have a bunch of idiots over here too.
59% of Americans worry student loan forgiveness will make inflation worse, CNBC survey finds
Ahead of President Joe Biden's decision on student loan forgiveness, a CNBC/Momentive survey finds mixed views on the issue and concerns about economic impact.
Over $74,000 is considered high income? I guess I don’t consider that the case, can’t remember the exact number, but if salary is 150,000 or over no debt is forgiven ( think that was the number )You're wrong.
Who owes the most in student loans: New data from the Fed
Recently released data from the Federal Reserve’s Survey of Consumer Finances confirm that upper-income households account for a disproportionate share of student loan debt—and an even larger share of monthly out-of-pocket student debt payments.www.brookings.edu
"The highest-income 40 percent of households (those with incomes above $74,000) owe almost 60 percent of the outstanding education debt and make almost three-quarters of the payments. The lowest-income 40 percent of households hold just under 20 percent of the outstanding debt and make only 10 percent of the payments. It should be no surprise that higher-income households owe more student debt than others. Students from higher-income households are more likely to go to college in the first place. And workers with a college or graduate degree earn substantially more in the labor market than those who never went to college.
Source: Board of Governors of the Federal Reserve System (2017, 2020), Survey of Consumer Finances 2016 and 2019, https://www.federalreserve.gov/econres/scfindex.htm, calculations by the authors. Sample includes households age 25 or older who are not current students.
Likewise, education debt is concentrated in households with high levels of educational attainment. In 2019, the new Fed data show, households with graduate degrees owed 56 percent of the outstanding education debt—an increase from 49 percent in 2016. For context, only 14 percent of adults age 25 or older hold graduate degrees. The 3 percent of adults with professional and doctorate degrees hold 20 percent of the education debt. These households have median earnings more than twice as high as the overall median ($106,000 vs. $47,000 in 2019)
It may be factored in, student loan collection has been paused for 2 years.
A
anon_mlxxvlbug9dpa
Guest
I think what conservatives are going after is the people who can’t afford college - and they’re getting them in droves.
But you’re right. College tuition should be a mutual goal. It’s rising at unsustainable rates and very soon people just won’t go.
A
anon_mlxxvlbug9dpa
Guest
I believe - and I have no data to back this - that every Gen Z voter this “act” picks up will be offset 3x by voters it loses.I'm going to take issue with this from a purely political 2022 basis. A couple of points about the 2020 election, and the role of Gen Z...
Exit polling showed that 65% of the 18-24 vote went for Biden, the highest differential among any age group. And between 53-55% of all registered voters in that age group voted, the highest it's ever been. So it's a significant constituency that he's been lagging with, because people who were invested in that issue didn't feel he was fulfilling his campaign promise...
The 2020 election shows Gen Z's voting power for years to come
65% of young voters voted for President-elect Joe Biden.www.cnbc.com
It may be that I just watch too much left wing programming, but I think this issue energizes people and is an overall plus heading into the midterms. I find it difficult to believe that people who were backing Dems and generally approve of their Legislative agenda are suddenly going to switch from voting for the Dem candidate they had decided to vote for in Nov over this issue.
I think largely most of the opposition to the move is going to come from people who already had decided to vote for a GOP candidate in whatever race. I just don't think on it's own it resonates negatively with people who were going to vote Dem.
Does it increase turnout on the other side? Possibly, but that seems a stretch to say that folks who hate Biden for a variety of reasons but had no plan to vote are going to come out in droves from anger over this singular issue. It seems like those hate Biden numbers are pretty baked in at this point.
On the other hand people who approve of legislation like the IRA and infrastructure etc... may feel invested in voting to show their support and also their desire to make sure the plan is implemented as laid out. Most of the Dem Legislative agenda that the GOP hates is actually popular with Dem voters, so cumulatively the odds are greater that popular legislation and issues like guns, choice and loan forgiveness which resonate with Dem voters are more likely to increase Dem turnout than they are to inspire opposition voters to vote.
Predatory loan practices? From the Government? We aren't talking about private loans.
The really cool way to go after those people who can't afford college is to propose ideas for helping the ones who want to go to college and would raise their station in life by going figure out how to pull it off responsibly. And figuring out ways to encourage those that don't want to go to college that they have lots of great options for raising their station without going.
Last week it was the Inflation Reduction Act. This week it's free cheese. Rudderless59% of Americans worry student loan forgiveness will make inflation worse, CNBC survey finds
Ahead of President Joe Biden's decision on student loan forgiveness, a CNBC/Momentive survey finds mixed views on the issue and concerns about economic impact.
A
anon_mlxxvlbug9dpa
Guest
I’ve always been a fan of the German model - at least a lite implantation of it. Figuring out which kids are more apt for a trade than college and then supporting that direction also.
england does some of that stuff too with their levels. you also get your degree in 3 years instead of 4. there's no reason our bach should be 4 years at these prices. dump a year's worth of electives. i have a ton of friends from england. i don't know anything about the german model but in the sense it overlaps what i didn't like about england is that it sort of punished those who were late bloomers. you were typecast before you blossomed - at least in the case of some
A
anon_mlxxvlbug9dpa
Guest
It would be nice if local and regional industry/trades would step up and try to recruit kids out of school and pay for their trades education as a hiring pipeline. Vocational schools put tons of productive people into society.
