9% Say they intentionally have not paid back student loans

[Revoltingest]

I can assure you that in the EU such discourse has never existed.

Of course you deny it.

A university is prestigious, because of its history. Not because of its "cost".
The University of Bologna is very prestigious, for example.
And affordable.

Is it free to all?

BTW, I wouldn't value a degree from the U of Baloney.

 

[PureX]

1 in 10 borrowers who haven’t resumed student loan payments are boycotting - Intelligent

To find out how borrowers are coping with the continuation of student loan payments, Intelligent.com surveyed 1,000 federal student loan borrowers in January 2024.

www.intelligent.com

This survey says that 9% of student loan borrowers are intentionally not paying back their student loan out of protest. This is a ethical issue. Why should I the taxpayer pay for their college education when they voluntarily took out the loan? This is radical left wing thinking. Cancelling loan debt is nothing but pandering for votes along with it being ethically wrong. We all must pay back our loans we take out even if we took them out with bad decisions.

Why would it be wrong to starts garnishing their wages to get the money back like deadbeat parents? After all they are deadbeat money borrowers.

For people that cannot afford the payment but want to pay it back I am for working with them to come up with a reasonable payment plan. But they still must pay it back. Why anyone thinks loan forgiveness is a moral act is beyond me.

If you can't understand why educating young people is important to your own well being, as well as the whole human race, no one is going to be able to explain it to you.

 

[Estro Felino]

Of course you deny it.

Is it free to all?

It is free for those who cannot afford it, yes.
Usually it's affordable.

BTW, I wouldn't value a degree from the U of Baloney.

So many Americans come to Italy to study...evidently they have value, those universities, dear sir.

 

[Revoltingest]

It is free for those who cannot afford it, yes.
Usually it's affordable.

So it is not free to all.
And there is a cost.
And I'll wager that many applicants are denied entry.

So many Americans come to Italy to study...evidently they have value, those universities, dear sir.

They go there for the spaghetti.

 

[Estro Felino]

So it is not free to all.
And there is a cost.
And I'll wager that many applicants are denied entry.

I have said it's an affordable cost. Very affordable tuition fees.
They can be high for those who are rich. And those who can't afford this cost, they pay nothing.

There are certain universities like medicine or law, where there is a selection, yes.

They go there for the spaghetti.

And the pizza too, I hope.

 

[PureX]

I borrowed about 12k during 7 years of college back in the 80s, and ended up paying back about 36k by the time I finally got clear of the criminal lenders decades later. So you ain't gonna see no crocodile tears from me for those scum bags.

 

[Audie]

I'm surprised people think lending money to others with interest is a moral act.

Expecting more back than you lent someone is way more immoral than not paying out of protest.

I'd be well happy to pay back the $15k if I took that out as a student loan. I shouldn't a the end of that loan, ended up paying closer 2x that amount thanks to interest.

Whats the ( moral) difference betweeen
borrowing a $200 000 house, and borrowing
$200,000 cash?

 

[Eddi]

My income is too low for me to have to repay my student loans, but what I owe goes up every year and I don't actually know the exact figure that I owe

 

[Audie]

So many people to blame.
So many wrongs.
Bad decisions.
Entitlement.
Corruption.
Sloth.
Theft.

I'll pick one.....
Society tells kids "you must go to college".
College makes you educated & better.
College grads earn more.
If you don't go to college, you'll end up
in a trade, eg, plumber...that's low class.
So they blindly borrow a small fortune to
get that degree in medieval art history,
giving no thought to how they'll pay
back the loan....which was given with little
thought to kids who didn't yet understand
what borrowing is all about.
Pretty broad based debacle, eh?

Its a gigantic scam.

 

[Revoltingest]

I borrowed about 12k during 7 years of college back in the 80s, and ended up paying back about 36k by the time I finally got clear of the criminal lenders decades later. So you ain't gonna see no crocodile tears from me for those scum bags.

When you borrow money, the lender has a cost.
They pay interest. You shouldn't get to use their
money for free. If you spent it on an education
that didn't enable you to pay back the loan,
then this is your failure in judgment.

Don't borrow money for a purpose
that isn't worth the cost of the loan.

 

[Revoltingest]

Its a gigantic scam.

"Scam" implies intent to deceive.
That's not the problem....except for government's
using the promise of cheap/free money to entice
kids to borrow, without ensuring they know what
they're really getting into.

OK, it's a government scam.

 

[Colt]

1 in 10 borrowers who haven’t resumed student loan payments are boycotting - Intelligent

To find out how borrowers are coping with the continuation of student loan payments, Intelligent.com surveyed 1,000 federal student loan borrowers in January 2024.

www.intelligent.com

This survey says that 9% of student loan borrowers are intentionally not paying back their student loan out of protest. This is a ethical issue. Why should I the taxpayer pay for their college education when they voluntarily took out the loan? This is radical left wing thinking. Cancelling loan debt is nothing but pandering for votes along with it being ethically wrong. We all must pay back our loans we take out even if we took them out with bad decisions.

Why would it be wrong to starts garnishing their wages to get the money back like deadbeat parents? After all they are deadbeat money borrowers.

For people that cannot afford the payment but want to pay it back I am for working with them to come up with a reasonable payment plan. But they still must pay it back. Why anyone thinks loan forgiveness is a moral act is beyond me.

Don't barrow money if you have no intention on paying it back!

Historic chart of student loan interest rates.

Academic Year
Fixed vs. Variable
Subsidized
Unsubsidized​

2020-2021
Fixed

2.750%
2.750%​

2019-2020
Fixed

4.529%
4.529%​

2018-2019
Fixed

5.045%
5.045%​

2017-2018
Fixed

4.45%
4.45%​

2016-2017
Fixed

3.76%
3.76%​

2015-2016
Fixed

4.29%
4.29%​

2014-2015
Fixed

4.66%
4.66%​

2013-2014
Fixed

3.86%
3.86%​

2012-2013
Fixed

3.40%
6.80%​

2011-2012
Fixed

3.40%
6.80%​

2010-2011
Fixed

4.50%
6.80%​

2009-2010
Fixed

5.60%
6.80%​

2008-2009
Fixed

6.00%
6.80%​

2007-2008
Fixed

6.80%
6.80%​

2006-2007
Fixed

6.80%
6.80%​

 

[Estro Felino]

"Scam" implies intent to deceive.
That's not the problem....except for government's
using the promise of cheap/free money to entice
kids to borrow, without ensuring they know what
they're really getting into.

OK, it's a government scam.

The government is rich...they should pay for these debts.
They can print money...
since you claim that the FED is owned by the Government and not by merciless banking dynasties,
let the Government pay.

 

[9-10ths_Penguin]

I could be wrong here as I don't fully understand the complexities of the student loan system, but if student loans are anything like sub-prime mortgages, the point of the loan is not that a student should repay them. Having students in a lifetime of debt creates other commercial opportunities for those who have control of the loans. Banks and/or other financial institutions could repackage the debt, turn them in to derivatives and securities and sell it on in financial markets at an increased value to make a profit.

Also, the threat of a lifetime of debt is an effective military recruitment tool.

A big part of their sales pitch is that you can pay for college: enlist long enough to get GI Bill benefits and you can get a degree without huge student loans.

 

[TagliatelliMonster]

1 in 10 borrowers who haven’t resumed student loan payments are boycotting - Intelligent

To find out how borrowers are coping with the continuation of student loan payments, Intelligent.com surveyed 1,000 federal student loan borrowers in January 2024.

www.intelligent.com

This survey says that 9% of student loan borrowers are intentionally not paying back their student loan out of protest. This is a ethical issue. Why should I the taxpayer pay for their college education when they voluntarily took out the loan? This is radical left wing thinking. Cancelling loan debt is nothing but pandering for votes along with it being ethically wrong. We all must pay back our loans we take out even if we took them out with bad decisions.

Why would it be wrong to starts garnishing their wages to get the money back like deadbeat parents? After all they are deadbeat money borrowers.

For people that cannot afford the payment but want to pay it back I am for working with them to come up with a reasonable payment plan. But they still must pay it back. Why anyone thinks loan forgiveness is a moral act is beyond me.

Personally I think it is depressing that "student loans" to be able to get an education, is a thing in the first place.
But I guess that's another issue.

 

[TagliatelliMonster]

Oh, if everything in life were free.
But I've observed a problem when a consumer perceives no cost.
That which is free isn't valued as much. Greater tendency to waste.
And what's free is less financed than what's paid for, so quality suffers.
Be careful what you wish for.

I think the fact that "student" here is referred to as a "consumer" shows the problem.

Education is not a commodity.
It's a preparation for the next generation to join the workforce.

As a society, you have extreme incentive to try and do as good a job as possible to deliver a capable and educated next generation of workers.

 

[Estro Felino]

I think the fact that "student" here is referred to as a "consumer" shows the problem.

Education is not a commodity.
It's a preparation for the next generation to join the workforce.

As a society, you have extreme incentive to try and do as good a job as possible to deliver a capable and educated next generation of workers.

I would add that knowledge is something spiritual that cannot be commodified. That is why the State has to have the monopoly on education.

 

[TagliatelliMonster]

I would add that knowledge is something spiritual that cannot be commodified. That is why the State has to have the monopoly on education.

Ow, I disagree the state has to have a "monopoly" on education.
I think "the state" (=whatever politicians are currently in power) should have jack sh!t to say about education. I'ld rather leave that in the hands of independent academia and how good a job they do should be measured by the results of their work (ie quality of education; the competitiveness of the workforce they deliver as compared to other countries' school systems; academic achievements of the schools etc).

The state's sole responsibility should be forking over the budgets to finance it.

 

[Estro Felino]

Ow, I disagree the state has to have a "monopoly" on education.
I think "the state" (=whatever politicians are currently in power) should have jack sh!t to say about education. I'ld rather leave that in the hands of independent academia and how good a job they do should be measured by the results of their work (ie quality of education; the competitiveness of the workforce they deliver as compared to other countries' school systems; academic achievements of the schools etc).

The state's sole responsibility should be forking over the budgets to finance it.

If you liberalize education, certain educators will be free to teach students that Earth is 6,000 years old.

 

[mangalavara]

This survey says that 9% of student loan borrowers are intentionally not paying back their student loan out of protest.

They can protest all they want by doing a payment strike, but it will make their financial state worse.

Why should I the taxpayer pay for their college education when they voluntarily took out the loan?

Indeed, you should not have to. Funding education and funding health care through taxation are good things (in my opinion), but requiring the population to pay a segment’s student debt seems unfair. ‘Through taxation, let’s pay off the student debt of these people with greater job prospects. As to those of you who lack an academic degree and are barely getting by, sorry.’

We all must pay back our loans we take out even if we took them out with bad decisions.

I agree. To not pay what one owes is stealing. As a Hindu, I say that it is adharma (not in accordance with duty).

Why anyone thinks loan forgiveness is a moral act is beyond me.

I am the kind of person who would forgive a loan if it is unbearable, but I wouldn’t do it by taking money from somebody else. It is a good moral act if it does not require wronging someone else.