Why your student loans shouldn't be forgiven 

That, and the Federal Reserve should not be printing money backed by thin air.

We absolutely have to fix that.

Yea education should be free especially publicly funded universities and colleges.

@@th0rn3gaming It would certainly be almost free if government weren't involved

Any Loan at that. My family got caught by the Hero/Pace scam. You thought student loans where bad, wait till you see the government breaking kneecaps for loan sharks!

Very well said. Auto insurance tried to up their rates and have them included in monthly payments. It works for property taxes...but people were wise to see costs would be jacked up. ( I didn't say that well....but still...Your point was excellent )

generally agree that being said id rather have loan forgiveness than social security, i think we should abolish social security and give loan forgiveness per child for one generation only, we spend 30k per senior in public spending social security is a much bigger issue

Elaborate …. Are you saying education should be free or are you a hater too and don’t think people should get any forgiveness at all?

@@bradyhack2428 i think education shouldnt be free but there should be loan forgiveness for having more kids, we should not give any loan forgiveness to anyone without kids under any circumstance, i also support the immediate abolition of social security

Bingooooooo lets forgive everyone for making stupid financial decision except if you're an 18 year trying to get an education. Politically connected banksters are allowed to skirt responsibility

We have then-senator Biden to thank for the 2005 Bankruptcy Reform Act - that's what took student debt off the table during bankruptcy.

Naaa, People should pay there debts. Going to school is a privilege that only the few can afford. Graduates are said to be getting better jobs than non graduates, this to me means they can repay their debts.

There are a number of bankruptcies recognized by the IRS @@studiouskid1528 I know only of a couple. I also know that the lenders who don't get paid, turn and raise the rates on the rest of us. A bankruptcy in essence lets one person walk and transfers their debts onto others. In the same way people filing false and exaggerated insurance claims drive up the cost of insurance for others. Medical debt on your credit report is not counted against you when apply for loans. Bankruptcy is off your record in 10 years I believe or less. People can't keep up with medical costs but people can decide on smaller colleges. People are out there making bank, and as a society we want to forgive their student loans? I think it would be a devastating move.

@@Dancing_Alone_wRentals No loan should be immune. See, when you eliminate the risk like that... someone is going to behave recklessly. This case it was the financial institutions, when they where told these loans would be risk free they stopped vetting people. They started giving money away to anyone who asked for it, and then turned to the government and demanded they enforce payment. Why do we protect financial institutions from their own stupidity?

Yes, allow them to be bankrupted just like other debt. Borrows choose between keeping good credit and paying them off or filing bankruptcy and hurting their credit.

Remove government support from all loans! It just encourages the Confidence Artists to do their thing....

lol you can tell she didn’t pay shit

Or maybe STFU and go take responsibility for your loans rather than assuming about others. Stop wasting time worrying about others and focus on getting your life together and pay off debt.

The idea of government backed loans was to eliminate the Risk The idea of Interest on Loans is to eliminate the Risk Why is there two mechanisms of Risk Elimination here? Especially seeing one of them is a government guarantee..! I've seen worse though: The Pace/Hero loan Scam had *three* risk-removal mechanisms Company that created them was so corrupt it still went bankrupt. Notice how the financial companies still have their outs? While families like mine are stuck repaying these loans....

Just allow them to be bankruptable

Exactly these white people are living in white privilege. They don’t understand that if people people out here that are actually struggling.

It’s because of supply and demand. As soon as we made federally insured student loans an entitlement from the state, colleges found a way to increase tuition exponentially to soak up all that free money.

Because the system is designed so that no one can go to college, unless they borrow heavily, or have family who will pay their tuition.

Cool name you have @@myblacklab7 . For the big name schools...yes, either your scholarships are fantastic, or you have financial support from family etc. The community colleges are not like that. They offer classes at reasonable rates. (Define reasonable as scaled to min wage jobs ) There is a system in place, you are correct. But we don't have to participate in that system. Just like eating junk food....you don't have to. For anyone who made bad choices, it is a very uphill climb. RU-vid is full of channels who say college is no longer needed - if anything, they prove that in the States you can make it without college.

@@myblacklab7 the system wasn’t designed that way. The system has been transformed that way due to federal guaranteed student loans as an entitlement. Turn off the free money spigot and costs will come back down.

Back then, tuition fees were much lower in real terms.

@@victormn47 Back then, minimum wage was $4.25 an hour. Before Fannie Mae and Freddie Mac. Banks and colleges were on the hook if people could not pay their tuition. Now people can get loans for whatever degree they want, and the student cannot get rid of the loans through bankruptcy. Why wouldn't colleges skyrocket their tuition/fees? The colleges are no longer on the hook for the loss. Government win for the compound interest payments and college win for charging whatever they want, for whatever bulls@%t degree(s) they want to dream up...

Allegedly, there are people who loaned, for hypothetical example, 50k dollars and have paid back 100k already - but it was all INTEREST payments so they still owe 50k. I can see why people in this kind of situation would justifiably feel their loan should be forgiven. Problem is blanket forgiveness for everyone. One solution (I think Reason actually highlighted it once) is that they student loan is issued by the school and (I don't remember exact details) contracted to be only paid from earnings after graduation - this means school has an actual incentive to produce students who are employable to high-paying jobs.

As Lee Iaccoco called it "We borrowed money the old-fashioned way, we paid it back."

Boomer

No they should not be able to be discharged in a bankruptcy. They took the loan from the government that is me. I did not give you my say so for the loan so you cannot get out of it without paying me.

Just allow them to go through bankruptcy if they really cannot pay.

​@@tommyboym6563 Federal student loans are not dischargeable through bankruptcy.

Shut up they gave loans to students that were just out of high school and did not understand everything so they were being shady and you have no right to tell people they don’t deserve loan forgiveness you people are so entitled you’re probably Caucasian

And your name is disrespectful super Jesus and you got Jesus Christ on the cross playing games keep on mocking God and see what happens

If you gave a 10-year old that sort of decision, is that really fair? I know we're speaking of adults. Very young ones. Even at 18, most have never worked a job. Why must one of their earliest financial decisions be one of tens of thousands of dollars? Why does it have to be a decision of *tens of thousands of dollars* ??? They're given a pen to sign without the knowledge or wisdom to make the best decision. It's a scam unless they have a plan. Thankfully gen Z is learning from millenials and rightfully making smarter decisions, but unfortunately, that may not benefit them long-term either necessarily. Damned if you do, damned if you don't. What if we had GOOD options for once instead of those with very high risk???

That's nonsense. By that logic society should never improve because someone who wasn't in a position to benefit might be upset. If that happened you wouldn't have free high school today, or Medicare and Medicaid, or any of the myriad things we do socially that benefit all of us. Also, you wouldn't have had a choice to enter the military or not. You simply would've been drafted like generations before you.

I see what you did there.

It's easy to be philosophical about it when you weren't the one who sacrificed. I had to put in some very real years of my life, to earn what others may suddenly get for free.

Some cartoonist had the absolute gall to compare this stance to "I survived cancer treatments. If they invent cure for cancer tomorrow, I'm going to be REAL mad!" Has anyone ever voluntarily get inflicted by a long-term disease, in direct exchange for something? (Use the word "direct" to exclude workplace hazards like asbestos.)

@@daniels.3062 it's not philosophical. You at least had the choice to serve or not. My father got drafted. My grandfather got drafted. My uncles were drafted. They didn't bitch about it when the draft was eliminated. They supported it!

That's why I want to move to the US. Fuck high taxes!!!

Please cite the countries that offer 'free' higher education like the US does. In the US anyone can go to college if they are willing to pay. However, in countries that have 'free' higher education that education is highly regulated by the government. In Germany, the country Bernie Sanders likes to use, at 13 you take a test to see if you qualify for gymnasium, high school basically. If you don't go to gymnasium you won't be going to college. Once you complete gymnasium college is free if there is a seat in college for what you want to study, no seat no college. You may want to look at these 'free' college educationd in other countries.

You have it backwards. The number one priority is to stop government loans. Then, and only then, work on the other two.

"For those who qualify" Protip: You don't qualify.

I actually do though I'm not sure you understand what program is offered if you did you would realize what you left was an insult and is clearly not being used as one in this case. The program I mentioned is a Total and Permanent Discharge offered to university students who received certain federal student loans and have a qualifying disability. TLDR - It's a Total and Permanent Discharge and I've handed you a great opportunity for an insult yet you seem to have missed it. @@Furluge

Certain disabled yes, others no.

First question, were they disabled when they got the loan?

Very good point.

You obviously don't know how uncivilized those 'civilized' countries are. Those with 'free' higher education are highly regulated by the government. You probably wouldn't like it.

@@user-ge3hj3yn9r Yeah sure, countries such as Finland, Norway, Denmark, or Germany are "uncivilized" ahahahahha :D #facepalm

@@dandarley6303 I have lived in Germany and know their 'free' college scheme. At 13 years old students take a test to go to gymnasium, basically high school. Then once completing gymnasium, a student can 'apply' for a seat in the college. If the college doesn't have a seat in the subject your studying say good bye to college. Can you imagine being told you can't go to high school let alone college at 13 years old? Yes, uncivilized compared to U.S. standards.

@@user-ge3hj3yn9r Are you out of your mind? German 14-year-old unable to go to high school? #facepalm !!!

@@dandarley6303 Why do you find it odd that a government takes things away from people when they are paying for many things. That's why I said this is 'uncivilized' compared to how the US does college.

Well yeah you should.

except for people we don't like. If you were to return all the taxes.....The political parties would have nothing to grasp, cling, and tug over.....they would go home. We need Ford vs Chevy otherwise the evening news will be ......well...extinct.

Agreed. I’d say there should be a separation of education and state for the federal government. Congress has no enumerated power to enter that market. And when they do, they distort it.

You make a good argument for some relief. Me, I'm against all forgiveness but must remain open to ideas. ( On a related note. You've probably seen how universities function, they are pretty much regulated to no end, unionized, and pay retail for everything. They follow every rule on employment and some....Their costs are rising in every direction. It would be good if insurances were streamlined and after that health care costs.....and then some smarter purchasing practices adopted )

You are correct. The students are getting ripped off, but it's the schools ripping them off not the taxpayers. The schools are the beneficiary of this mess and they should be the ones to make all recent students whole. Not just the students with outstanding debt

First, though, get rid of the student loan program.

The Democrats want to spend BILLIONS on the military, not millions. Brandon is pitching a fit that certain Republicans won't approve it

At the cost of other's money? Hell no

They're libertarian, of course it doesn't make any economic sense

Then you would know how a great deal of students just spend their time partying and wasting time, doing the bare minimum to pass their courses and getting useless degrees. As I write this comment I face GC at FIU as a bunch of our students party in their respective fraternities. Why should I have I have to pay for their degrees? Florida has free higher public education as guaranteed by the Florida Bright Futures that covers the entirety of your tuition and FIU in particular gives the Gold and Blue Merit Scholarship which also covers the entirety of your tuition with very similar qualifications to the Florida Bright Futures. That means if you attend FIU you would get paid your tuition twice at taxpayers expense. Also, faculty at STEM get paid above 80k here and the average FIU tuition is 6.5k so a four-year degree is less than 30k. That means STEM staff can easily pay their student loans as they do. You know who can’t: the philosophy, English, gender studies departments, etc. All the while we pay our football coach a million dollars per year to lose every year. Seriously, get our head out of your ass. The problem is not funding of education, is where the funding is going. It is mostly wasted in non-productive human capital, unqualified people who go to school for 4 years to get zero marketable skills.

The reason school is so expensive in the US is because of the loans in the first place. The Federal government started guaranteeing loans and made it so those who take out the loans can't get rid of the debt in bankruptcy. That means every who wants to goto college can easily take out a loan for pretty much any amount and it's pure risk-free profit for those who issue the loans because the student can't get out of the debt through normal bankruptcy means. This in turn means the pool of funds that could be paid specifically for college tuition ment it was easier and easier for colleges to charge more and more, hire on more staff, and start providing various extraneous benefits and services to draw in the new availability of money. The students meanwhile are not refusing the amount being asked because they don't know any better, they didn't earn the money so they have no real idea if the value is worth it or not, and they've been told all their lives they have to goto college. If you forgive the loans you remove the few negative pressures in the current system and instead give it incentive to expand. This will signal colleges to find more unneeded fluff to add into their fees and lenders will happily lend because everyone's making money off it. It's the same kind of grift you see in health care, btw. 50% of every health care dollar is paid by the government, the remaining 50% mostly payed by government mandated and required insurance plans. Thus there's no reason to offer services at a price patients can afford because patients are not the source of the money. When you remove the source of the money from the people getting the service it's much easier to price the service in a way.

So become a slave to the military industrial complex, got it

Forced labor=slavery

Most libertarians would much rather just get rid of most of those departments.

@@ananon5771 That doesn't make the problem better, it makes it worse. Now you are going to tell the largest employment pool in the USA that 'oh yeah, btw, that degree we required you to get, not only are we not going to cover that we also arent going to hold up our end of the contract and you now don't get paid at all. Good luck bro'

@@fortusvictus8297 Libertarians believe they should get a real job that does not rely on stealing.

@@ananon5771 great, they will take your job, because they will be over educated, over qualified, have preferred placement, and dumped onto the labor market en masse. Enjoy redundancy.

The government has earns no money to compensate anyone for anything. The schools should compensate the students because the schools are the beneficiary of requiring people to attend, so the schools should charge less. PS - no one should "work" for the government. People should get a job

Exactly what I have told people, more people need to bump this: We can not blame the students in this situation, because we advised them! Every time a not yet developed mind turned to an adult for advice it was hammered into their head that they had no other choice but this broken collage system. There was no one else telling these young minds just what negatives would happen, for all the 90's adults where patting themselves on the back for having created such a 'wonderful' system. How where the students meant to know better, when we adults' had our heads up our own ******?

Turn off the free loans program before we give any forgiveness to anyone.

Any bailout by the government is wrong. Wether corporate or private.

Gag a maggot! 🤢🤮

Your home value isn't with anything until you sell. Then you've got to go buy another overpriced property. Meanwhile you get to pay higher property taxes on that inflated value. Don't be delusional.

@@joshcarlson9352 Nope, You sell the high value home and buy in Costa Rica.....try to understand equity a bit better. But you are right Elon Musk isn't rich because most of his wealth is stock valuations....🤣😂😂😂

Hello @@joshcarlson9352 . Your home is always worth the equity that is available. If you put down 30K and over ten years your home's value went up...chances are you have over 130K...of which many people can pull 80% without selling. To add to that, that home equity interest is tax deductible and the 80% you pulled out is not taxed as income.

no because your asking and sometimes forcing kids to go to college.our eyes arent wide open we are just told that its a necessary sacrifice that ends up being worth nothing

It is up through 12th. After that education becomes a privilege, which I believe should be paid for by the person attending.

@@Dancing_Alone_wRentals Yes, if you want medivial times and the dark ages back, then education should be a privilige for the few and the rich. Most Western civilised and modern counties not only have free health care but also free, or at least very affordable, education, including university level education. It is just the USA who is totally upside down and backwards in these matters.

It would be great if we had taxpayer funded health care @@theskilllessgamer5795 , meanwhile we have very affordable community college. When you factor in what minimum wage is in most states, and the cost of community college then you see it is far easier for someone in the US to afford what is provided. Healthcare won't arrive until the borders are locked down and that isn't what the political parties want. Say what they will, the do not want it.

Absolutely correct. Education should be free. We should force people to work at the schools for nothing so everyone can benefit from an education without going into debt

@@unclestinky6388 Yes, you got me! In every country, where education is free, all teachers are held as slaves, chained in the basements, when not in class. Whatever you paid for your education, you clearly got ripped off.

Wait....They ordered pizza.....stay at least for some pizza.

Nothing created by human beings is ever “free“. Humans create goods and services with their time and effort. Professors and other staff at universities spend their time and effort producing a service. If that service is provided free of immediate cost to students, those professors and staff still need to be paid (unless they’re enslaved).

@@VeniVidiVid we have universal free education through high school. Stop it

K -12 is available at no extra cost. Community colleges are relatively inexpensive. Community college needs to charge tuition so to eliminate the people who will be disruptive as they were in high school. I would much rather have taxes pay for universal health care.

@@Dancing_Alone_wRentals so you would deprive the vast majority because of a few. Dear lord......

How are you going to offer free education? Enslave the teachers?

Except that would be absurdly expensive, the best way to lower cost would probably to get less involved, make the colleges actually compete on price so it's not the case that so much aid is needed.

@@ananon5771 a quick Google search on countries with free university drops a list of 20. I am Shure that if Brasil, Malaysia, Argentina, Czech Republic, Kenia and Mexico manage to do it I don't see how the USA does not, especially when a university gets 2 Billion revenue on TV rights a year for college futbol.

​​@@czhuskyThe US government would just end up paying the same inflated numbers as students times a massive number of students. if the government stepped back, colleges would be forced to lower the cost to something affordable.

Naaa, It is commonly said that younger folks do not want to work, that same attitude would carry over into the universities. Universities need to be places where you pay to stay...otherwise people will be screwing around instead of learning...and worse still disturbing others. Simply attend a community college that is more in line with your budget. The fix is already available now.

@@Dancing_Alone_wRentals I have lived in several parts of the world and it is definitely not the case. Norway being the best example for me, they measure the value of the country not on economic terms but in the quality of people you produce and the conditions in which those people live. The top 10 best cities or counties to live are not in the US or China, those countries have free university or technician levels offered to all their citizens by their education system or military for a seamless integration to the work force and stronger social values. Japanese people is another great example where high quality education translates to a better society.

how entitled do *you* have to be to take out loans then not pay them back?

Yeah! How can a company be so entitled to think that someone who knowingly and willingly borrowed money should have to pay it back. How dare they.

Bye bye, you are part of the problem.

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