Today, around 44 million Americans owe a combined $1.7 trillion for their education.
deep cuts in state funding for higher education paved the way for significant tuition increases and pushed more of the costs of college onto students.
Wages haven't kept up. "Household income has been stagnant," said higher education expert Mark Kantrowitz.
Once families hit their federal student loan limits, they turn to parent student loans and private financing to be able to send their children off to college, an increasingly necessary step for people to have a decent shot at landing in the middle class.
Many recent college graduates can’t afford the standard 10-year repayment timeline, according to Kantrowitz.
Generally, people choose the repayment plan with the lowest monthly payment, which is also the plan with the longest term,” he said.
As a result, it takes people 17 years on average to pay off their education debt, data by the U.S. Department of Education shows.
Many borrowers put their loans on hold through forbearances, which cause their debt balances to mushroom with interest, and widespread failures in the government’s forgiveness programs have left those who expected to have their debt written off after a certain period still shouldering it.
The average loan balance at graduation has tripled since the 90s, to $30,000 from $10,000. Around 7% of student loan borrowers are now more than $100,000 in debt.
Brody Campbell
Just another bubble the government had its hand in inflating. Gonna be nasty when we can’t push all this further out anymore.
Jeremiah Thompson
So even universities, which are hotbeds of socialists and communists, chose to push their (((inevitable costs))) onto vulnerable proletariat students instead of using their privilege and power to absorb the costs? Wow, these communists are fucking pieces of shit.
Lincoln Lopez
That is 1,700,000,000,000 worth of debt that most of those 44,000,000 students cannot keep up with monthly payments.
And not only that the debt is only projected to keep going up. They wanted control of the nation yet they can't manage it thats for sure
Eventually they will "forgive" the debt. Which really just means they will nationalize the debt and unload it on all tax payers. And by all tax payers i just mean middle class tax bracket anywhere from 22k a year upto 56k a year. You say I'm wrong about that? Mmmm ok sure!
Juan Green
the problem is universities can keep raising rates as long as federal funds push money to them.
forgiving loans isn't the answer. The problem would still exist that caused the issue.
they need to allow bankrupcy to get rid of student debt - it used to be allowed till george bush signed the law that prevented it.
Next, force the universities to hold some of the student debt. Now they have skin in the game.
Next, no loans above the amount that can be repaid by the type of job the degree can give access to.
There's a few other things that we can do, but stopping unlimited government money would be the first step.
Jaxon Sanders
Usurers can get fucked.
Daniel Mitchell
stop letting rich people buy their way away from the poors and maybe they'd stop stealing from them and causing inequality issues
Christopher Flores
Realistically how many people are just going to do minimum payments every month and never pay it off? Seems like it's the universities' and government's problem when neither institution are ever getting that full money back.
hahaha if you went to college on my money you can get fucked you idiotic piece of shit. get a job and repay me or you will live on ramen and ketchup for the rest of your life.
Adrian Flores
>niggers pay for college Lol. Lmao even.
Aiden Stewart
>>deep cuts to universities Absolutely not. Most universities (public) are having HUGE infrastructure projects as part of their money laundering. Because they are private they are not allowed to have such large profits so they hide it by building tons of useless and empty buildings.
Texas by the way de-regulated tuition in Fall of 2003 - in Spring of 2004 state universities started raising their tuition. Federal loans being handed out like candy, and delivered via check in mail with no limit as to how it is spent, only enabled them to keep raising tuition. I knew many people who used their financial aid on vacations and cars.
and its mostly women who hold that debt HAHAHAHAHA GET FUCKED ROASTIE FEMINIST FUCKING GOLD DIGGING CUNTS FUCK YOU
Elijah Lewis
I'm all for loan forgiveness on student loans if student loans are eliminated and college endowments get taxed.
Ayden King
STOP FUCKING GOING TO COLLEGE FOR MEME DEGREES
People have been talking about outrageous college expenses for at least twenty years and how the job market is bad for 15 years. Why would they continue to do it? It's fucking retarded. And what's more, they go on to graduate school in another retarded major because they think a master's is going to fix their problem. Goddamn, I hate them so much.
Carter Perez
/thread
Caleb Nguyen
Intradesting.
Zachary Jones
The easy solution: >make it possible to declare bankruptcy on student loans >everybody who declares bankruptcy loses their lifetime ability to vote If you cannot handle your own life without needing bankruptcy, then you clearly should not have a say in how anybody else lives. People who have paid, or intend to pay, do not get punished. Everybody wins.
Not that voting matters anymore. We all know it's rigged.
Caleb Butler
Biden will just sort of vaguely imply debt cancellation until after the election at which point the payments resume to combat inflation.
Luke Lewis
public, not private, my bad
Jacob Reyes
no refunds
Ryder Morgan
>deep cuts in state funding for higher education paved the way no. shifting enrollment to focus on the "diverse" when those students would never be able to pay back a loan is the problem. White men pay back their loans because they go out and get real jobs.
Charles Hall
>government wants workers to fill demand >refuses to train you >makes you pay for it >you spend your entire life being punished for doing what they wanted from you interesting system, for sure
Easton Edwards
One of the biggest mistakes the govt did was such a sloppy student loan pause. They could have saved billions by saying "Ok, keep paying when you don't have to and we'll match something"
Hunter Cox
biden can erase it by brrrrrrrr, the country ponzi scheme is collapsing already, just do it now so pogroms can happen
Alexander Cruz
The realistic answer.
Easton Cox
I think it should be made into a gameshow. The retards are presented with 3 buttons to push. 1, go get a fucking job and pay off your own debt. 2, get $10K in student loan debt removed but there is a chance (99.9% but we won't tell them that) that they will get blown up to the amusement of the audience. 3, 100% loan forgiveness but if they push that, they are immediately tied down and sterilized and forced to go work at Amazon until they drop dead.
Josiah Walker
when do we get to sue?
Robert Wilson
Question for the zoomer of Any Forums who might be worried about this:
Why not just refuse to pay and tell your debtors to fuck off?
What are they going to do, garnish your minimum wages? Repossess your imaginary house? Throw you and a million other teenagers in jail? Lol good luck getting your fucking shekels then, IRS faggots. You get paid like 70 cents a day in jail.
I don't get it. You're kids. You live on the Internet. Just start a hashtag or a ZimZoom or whatever the fuck you faggots use these days declaring that you're not paying shit anymore as of 2 weeks from now. The kikes can't stop you. Be the change you want to see in the world.
Colton Edwards
zoomers look at use and think "why bother continuing this" I didnt realize we were so old in their eyes.
