General Politics Discussion VIII [ARCHIVED] • Page 902

Man, someone really needs to explain to me how 'I was told i had to go to college' or 'I don't use that shit in my current job ' or 'I didn't fully understand how interest works' is a valid argument for 'i shouldn't have to pay that anymore'.

 

lol

 

Yeah, not really the thread for archaic opinions

 

Explain how saddling an 18-year-old with $50,000 of debt after 12 years of insisting the only entry point to the middle class is an additional four years of schooling is reasonable. Explain the massive gulf in wealth we are seeing event between Gen X and millennials, nevermind the massive accumulation of assets boomers are currently hoarding. Get a clue, jabroni

 

With all the responses to your last idiotic post on this topic, you wait multiple days and come back with this bullshit.

Go read any of the studies that were posted in this thread about this topic, until then shut the fuck up because your points are fucking stupid and don't provide any value or insight.

 

This is no joke, but my Mom died when I was 26. (So my siblings were 23 and 37) She didn’t have much debt but enough where we were like okay, so how do we deal with that?! My grandpa saved the day and paid every dime off. I can’t have kids, so from this prospective, HELL YA. That was stressful.

Edit for clarification: he paid it off so anything that we were set to inherit would actually go to us and not her debt.

 

okay so I'm gonna try to not be snarky: the idea that someone should be paying off for their entire life something that is essential in a number of fields is absurd

 

To add to that absurdity, this debt can not be cancelled via bankruptcy. Then to even add further to that its backed by the government, yet the interest rate is higher than most car loans and mortgages.

 

Idk who needs to hear this, but you can't inherit debt (in most cases). An estate may need to pay off debts during the probate process, but if a parent has a negative net worth, no one inherits that or is responsible for it. The estate is just considered insolvent and the debt is written off. There are some exceptions in some jurisdictions around medical debt and parents ("filial responsibility laws"), but check with a lawyer before paying anything.

(I'm not a lawyer - don't take advice from randos on the internet)

 

Just ban that dweeb for posting something so dumb

 

Student loan debt is a scam. It uses the fact that children were told they had to go to college, or don’t understand how interest works, or *that college is legitimately a good thing for people to go through* or that *many good paying jobs require a college degree* and a myriad of other issues as leverage to lock people into a shitty deal while universities, community colleges, training programs, and trade schools continue to hike costs. It has kept millions of people from being able to invest in homes, retirement, or starting a family. All of these things have terrible repercussions for both the individual and the nation’s economic health as a whole. You can’t just look at an issue impacting so many people and say “eh, not my problem” because it actually does negatively impact your life at some point.

Moreover, we could easily settle that debt with a super small tax on Wall Street of like 0.5%, and pay for people to go to school in the future. I then think we should work on paying back people who already paid back their student debt as well. Because it’s better for the country/world if people get the education/training they need and want.

 

We got not one snarky post from this fool but we got two and the second came after multiple pages of discussion and information to refute the fucking snark. This person just fucking sucks and has no interest in actually learning/talking about this topic. It's not worth peoples time to set this turd in their place.

 

We also need to reel in the for-profit college institutions/trade schools, my wife is a hair stylist and there's absolutely no fucking way it should have costed $30k for a career that you make minimum wage for at least your first 5 years lmfao

 

I'm not saying there's not a problem with the education system, I'm just saying a lot of you are framing it in a 'woe is me' way. Facts about how school cost has skyrocketed, salaries have plummeted etc. are all valid arguments (alongside things such as the above). I don't use my degree, or complaining about interest working differently to how you imagined, or being too young to know otherwise, aren't. Good luck convincing the masses to get on board with that line of reasoning. I'm arguing less the point, and more the messaging.

I also think a lot of millennials will increase their wealth over the upcoming years with market growth and low interest rates for home ownership/property ownership. There will also (sadly to some?) be a transfer of wealth between generations (inheritances).

 

There's a reason they're called predatory loans, and there's a reason they're given to college kids told they don't have other options. They prey on high school kids that don't know these high interest loans are a scam and a total rip off. There's millions of cases where people have done everything they can and paid off more than they initially borrowed and still owe more than that amount because the interest payments are high.

Basically the US government thought desperate kids who didn't understand loans and had no other way to get a better life out of poverty than college education were easy marks. Its a scam, they were tricked, and likely didn't even get a decent job because the prosperous job market and high wages they were promised to make this loan a good idea was a complete lie.

Not only would completely eliminating the debt be one of the single most massive boosts to the economy in decades, it is also the ethical and right thing to do after trying to turn poor kids wanting an education into profit centers. Its disgusting that it was ever allowed at this scale and ending it as soon as possible is the right thing to do from every possible viewpoint outside of "fuck it I love needless suffering".

 

Me, a millennial, waiting on trickle down economics to benefit me

 

It's wild how finance/accounting was not a requirement in high school or even college for that matter. At least thats how it is where I'm originally from.

The ONLY thing I learned from a required Home Ec course (in 7th grade off all grades to learn this) was how to fill out a check and balance a check book. Interest was never a thing, investing was never a thing, and budgeting, probably the most important part of money, was absolutely never a thing.

Instead, we learned how to sew and use a kitchen for 3 years.

 

This is complete and utter nonsense lmfao

No one's taking advantage of low interest rates if you have crippling student loan debt and you cannot save a fucking dime for a down payment

Fuck outta here

 

Your faith in the market growth and low interest rates...which hey first off aren't even a guaranteed thing is just foolish. We are still behind on the wealth growth and the needed market growth to make that up is fucking insane to think is going to happen. Again you are putting your faith in a market that has shown to not fix any of this shit. I also can't buy a fucking house when I have a guaranteed 400 plus dollars a month I have to pay. Don't see where fucking wage growth which has lagged behind for years is going to make up for that. I can barley get a cost of living increase on my wage let alone one that will make that payment seem less.

 

And GTFO here with I dunno how you convince the masses on this....do you realize how many people have student loan debt that don't even have the fucking degree they went to school for? Or how many blue collar parent's have taken out student loans to help their kids. Those are all blue collar people who would support this. You obviously did not read shit that was posted here which would have lead you to the polling that shows this is actually supported in good numbers by the blue collar masses. Again your arguments are riddled with bullshit and bad faith arguments. Read some of the shit that was posted in this thread until then shut the fuck up on a topic you obviously lack knowledge on.

 

The inescapable disease of “personal responsibility” excuses for injustice...

Really wish these people who ~*”understand”*~ these narrow, convenient definitions of “responsibility” & “the economy” could spend just one day looking at, experiencing, & UNDERSTANDing the real world.

 

You're talking from your experience, I'm talking from mine. I know plenty of people (with pretty hefty student loans) who are buying houses/condos now because of the reasons I quoted. Not happening in your world? Fine, I believe you. I also know people who have money invested in the market and have been watching it grow overall despite the ups and downs. Again, not happening in your world? Fine, I believe you. But it's not complete and utter nonsense and not happening just because you're not seeing it.