We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
Paying off some people's student debt is not dissimilar to giving some people child birth leave from their job. How would you feel when the company slacker gets 6 weeks paid leave for having a baby and not only do you get nothing but you have to pick up the work that the anointed one isn't there to do. I don't think that our leaders really think this crap through when they make this kind of legislation.
I disagree. The steady erosion of value and quality in education has to stop if we are to survive as a nation, much less prosper as one (and not just at University level).
You'll have a very hard time convincing me that a person who signs a loan agreement is a good candidate for a hard-luck bailout, when the have invested the loan money in a spring break vacation or a useless unmarketable degree, and who doesn't bother to comprehend the fine print before signing the Contract. No way. Standing by your signature is an adult behavior. And comprehension is fundamental to educational achievement.
I might be more willing to see something taken out of the hide of the other party though - Corporate Lenders who are predatory to an unseemly degree, who start charging interest from Day 1 instead of post-graduation, or who have unusually high rates - I could more easily see the USGov weighing in to lean on them for re-structuring at less usurious lending rates, or better payoff terms. But I do not agree with debt forgiveness for poorly informed and reckless choices. That's just rewarding laziness.
We have to keep insisting on a cultural shift in this country that stops inflicting punishment on the people who are able to play by the rules, and stops the institutional rewarding of slackers and miscreants who want to break them. Just IMHO of course.
The problem with that is that there is pretty much no direct private student loan lending in the US anymore. With a very few exceptions it's all direct lending by the Feds since 2010. Only loans issued before then are made by private parties, but even then most are re-securitized through Sallie Mae.
As you touch on, however is the fact that rates are statutorily determined with no regard for the risk profile of the individual student. Thus the petroleum engineer pays the same rate as the media studies major, without regard for their employment or repayment prospects.
Some relief can also be granted by taking it out of the hide of University employees for the near uselessness of many degrees. There will be no loaning to students by outside providers as long as the cheap and easy money comes from the government.
Perhaps I wasn't clear. I oppose paying of student loans and I oppose government even being involved in student loans. I oppose governments mandating leave for child birth or any reason. This is not governments place. This is especially bad because governments place is to keep us safe and secure our borders and in that they are failing badly.
Thanks for clarifying A.G.N.D., I wasn't aware the industry was now virtually 100% federally run. I guess that's why it's easy for politicians to promote forgiving the debts. I am with you in not wanting the FedGov in the business for that very reason, among others.
Some of Sanders' supporters do have legit gripes. And ridiculing them does nothing to further any hope of a dialogue.
The biggest problem is that Sanders' approach will amplify those problems. It is progressive policies that generated most of those problems.
That needs to be said, loudly, clearly and repeatedly. It will change some minds. Not all, but some. Ridicule will do nothing but anger young, energetic, disenfranchised people and those results will look a lot like the Jacobins, Bolsheviks, Maoists and Cubans.