9% Say they intentionally have not paid back student loans

[TagliatelliMonster]

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

No independent academia whose work is measured by standards like quality of education, academic achievement and competitiveness of delivered graduates is going to add YECisms or any other such nonsense to the curriculum, because at that point the quality of the education will be below zero and academic achievement and competitiveness of graduates will be non-existent.


YECism or alike in schools is what you potentially get when you hand over the power over education to elected non-academics who have political agenda's.

 

[PureX]

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.

Capitalists always blame the people they exploit. Because money is always more important.

 

[Quintessence]

I've had long conversations with a couple of my friends as to why they are intentionally NOT paying back their student loans.

It boils down to this - the literally can't.

They ran the numbers and they literally can't without upending everything about their lives and living in a way they don't want to.

Neither of these people are deadbeats. Both work in higher education, actually, something they deeply value and enjoy being of service to. One still lives with their surviving parent and the other lives with a partner in a small apartment. They pay the minimum on their loans every month and see no light at the end of their college debt tunnel, so they choose to actually live their lives instead of letting the impossible loan ruin those lives completely.

There's more to each of their stories than that - personally, I think they both spend too much on unnecessary crap (but I think that of almost everyone in my country as an anti-consumerist so I doubt that's a fair criticism) - but the short of it is they can't repay the loans before retirement age and are not willing to compromise their quality of life to do so. And I can sympathize with that. Neither of them are living it up, exactly. Anyone in my generational bracket and younger is simply financially worse off than previous generations and that's that. I'm unusual in that I'm an (almost) homeowner with (almost) no debt... which only happened because I inherited money.

 

[Audie]

"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.

American state unuversities are
an industry. On a x country trip my
then- boyfriend said to look for the construction
cranes in cities along the way. Thats where the
Uni is. He was right.
I remember one along I 80. One crane downtown. Four
on campus. 10% of population was...students.

Industry! Pig Iron!

Unis sell a bill of goods.
Just look at the price of books.

Never mind. You know.

 

[Koldo]

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.

What's the consequence of not paying the loan in the US?

 

[Koldo]

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?

That invites a conversation about why money is being lent in the first place to pay for endeavors that have a very high risk of not succeding at paying back the loan.

 

[Sand Dancer]

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.

I guess we can snatch that diploma right back then.

 

[Sand Dancer]

Personally I believe education should be free to the student.

I think it should just be affordable like it used to be when the government paid for more of it. If it were free, people might go just because, possibly taking a slot from a serious student. Maybe if they don't end up graduating, they should have to pay some money back.

 

[The Hammer]

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

Absolutely. Yup. We used to joke about that in the military. At least I did.

 

[The Hammer]

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

Not really much imo. I thought I already drew that distinction?

 

[PureX]

What's the consequence of not paying the loan in the US?

It depends on which party is in power at the time. If it's repunlicans, they start cutting off digits. If it's the democrats they threaten to forgive the debt, (but they never do, of course, that would disrupt the corporate kick-back gravy train).

 

[PureX]

I think it should just be affordable like it used to be when the government paid for more of it. If it were free, people might go just because, possibly taking a slot from a serious student. Maybe if they don't end up graduating, they should have to pay some money back.

But an education is not about or for gettng the degree.

 

[Shadow Wolf]

This of course doesn't change the fundamental value of the original debt, so it feeds into unsustainable speculation that will eventually lead to a crash. And having an entire generation perpetually in debt is an effective method of social control, as it's the same thing the west does to third world countries. The idea of student's "investing" in their future is just marketing spin to sell a bad idea to the general public, the same as promising the "american dream" of borrowing a mortgage so anyone can own your own home.

I can say it wasn't the golden ticket to keeo me employed with bad knees I thought it would be. And not only that my best paying jobs didn't need it.
Personally I think we need to teach people more in ways of skilled trade, self employment and other options for people who won't be taking a regular workers life path in life.

 

[Shadow Wolf]

If it were free, people might go just because, possibly taking a slot from a serious student.

If seats are limited and they have to decidw who gets in and who doesn't why would they take a less promising student?

 

[Shadow Wolf]

get that degree in medieval art history,

That's nit actually the case.

 

[Secret Chief]

I think it should just be affordable like it used to be when the government paid for more of it. If it were free, people might go just because, possibly taking a slot from a serious student. Maybe if they don't end up graduating, they should have to pay some money back.

In the UK the grant was means-tested so it did vary. The government were keen for people to go on to higher education if realistic. Eeh, it was another world.
Now there are obviously people who would like to go to uni but are put off or prevented by the cost and the certainty of starting adult life with a big debt (meant to be paid off dependent on subsequent income).

 

[metis]

Personally I believe education should be free to the student.

Ditto, and if we expect to keep up with other countries educationally and economically, we'd better get our act together and make paying for education a LOT easier.

 

[Colt]

American state unuversities are
an industry. On a x country trip my
then- boyfriend said to look for the construction
cranes in cities along the way. Thats where the
Uni is. He was right.
I remember one along I 80. One crane downtown. Four
on campus. 10% of population was...students.

Industry! Pig Iron!

Unis sell a bill of goods.
Just look at the price of books.

Never mind. You know.

Today everything is somebody else's fault! Thats why people don't grow up anymore!

 

[Colt]

Personally I believe education should be free to the student.

You mean somebody else should pay for it which wouldn't make education free for those who DID pay for their higher education and are forced to subsidize the Lefts voter base! Besides, in America k-12 is already free or paid for by others, however 3,000,000+ quit our free schools each year!

 

[Brickjectivity]

If and only if we cut federal subsidized loans then I am in favor of extensive loan forgiveness for the past loans. It will lower tuition and stop the rash of national student debt. Currently although college loans are a burden, there are ways to manage them. The real threat is that lots of new students are going unprepared into colleges, wracking up new debt. Many are headed for the same train wreck. The tuition will continue to double, and the loans will keep getting rubber stamped.