Will Biden Cancel Student Debt?

[Revoltingest]

Who needs a job? Smoke dope and " study " for a few years, all free.

Alas, that's a tendency when something has no
perceived cost, ie, it's taken for granite granted.

 

[Evangelicalhumanist]

I voted for canceling all student debt. In my opinion, education is a cornerstone of any society that wishes to advance culturally, scientifically, and intellectually. It is one of the best investments any society could make, so if taxpayer money goes to funding military spending, roads, health infrastructure, and power plants, I don't see any reason some of it shouldn't also go to funding free college education.

On a related note, this is a list of countries with free college education for their citizens (and, in the case of some EU countries, for EU students as well):

Countries With Free College 2022

I see Austria, France, Germany, Finland, Norway, Iceland, and Sweden on the list. They all have some of the highest standards of living in the world. It seems to me free college education hasn't harmed them or made them into hotspots for people looking for "freebies."

But you still have to pay attention to what each student can learn. There is absolutely no point in teaching music theory to a person who is tone deaf, for example. It will be meaningless and irritating to them, and a huge waste of time and money to the institution trying to teach it. Not everyone can learn in the STEM stream, nor can some of us learn to work competently enough with our hands to make beautiful clothes, or statues comparable to Michelangelo's. And very, very few of us can muster the words to create plays nearing Shakespeare's or Chekov's perfection.

 

[Evangelicalhumanist]

Alas, that's a tendency when something has no
perceived cost, ie, it's taken for granite granted.

Agreed. Actually.

 

[Evangelicalhumanist]

Alas, that's a tendency when something has no
perceived cost, ie, it's taken for granite granted.

I remember years ago reading an absolutely dreadful novel called "No Exit," about a university where at the close of each term, the top student got to execute the one with the lowest marks. It was so bad, I can't even find a mention of it in Google.

But still....maybe not the execution part, but if you can't keep the grades up, the government oughtn't keep paying for the tuition.

Edited to add:

Well, no wonder I couldn't find it -- it's actually called "No Transfer" by Stephen Walton. Still dreadful, though.

 

[Shadow Wolf]

And just think, if student loans were instead debt incurred by banks behaving poorly they would have been bailed out.

 

[Shadow Wolf]

So, you want to forgive all student loan debt.
How about those that worked their way through college?
How about those parents that sacrificed to pay their childrens way through college?
How about all of us that didn't get a college education and want stick the bill on us?

What's wrong with letting others have it better than you? Such things tend to happen.

 

[Audie]

Alas, that's a tendency when something has no
perceived cost, ie, it's taken for granite granted.

I observed a lot of students just there coz mommy daddy said college.
Useless degrees. Unrealistic plans.

I can see scholarships for needy students who
can show they have the stuff.
"Free " for everyone is insane

Voting yourself a handout is immoral

 

[averageJOE]

Understand that Biden and the entire Democratic Party will NEVER cancel a single penny of student debt. This is all a mid-term election strategy for the DNC.

 

[Audie]

Understand that Biden and the entire Democratic Party will NEVER cancel a single penny of student debt. This is all a mid-term election strategy for the DNC.

"CANCEL" is a dshonest word

 

[Shadow Wolf]

"Free " for everyone is insane

And yet it's been done.

 

[Suave]

Understand that Biden and the entire Democratic Party will NEVER cancel a single penny of student debt. This is all a mid-term election strategy for the DNC.

I am confident Biden will sign an executive order forgiving up to $10,000 of student debt for each debtor who had incurred such a financial burden.

 

[Debater Slayer]

And just think, if student loans were instead debt incurred by banks behaving poorly they would have been bailed out.

Or if they were the cost of an eight-trillion-dollar "war on terror" that has largely failed and been a humanitarian and political disaster.

Costs of the 20-year war on terror: $8 trillion and 900,000 deaths

Somehow I see free college as a better use of state funds.

 

[Shadow Wolf]

Somehow I see free college as a better use of state funds.

No arguing that one.

 

[Suave]

But it's free money if they just print it, right?

I'd like billionaires and multi-millionaires pay their fair share of income taxes to help fund higher education programs like tuition free colleges as well as debt write offs on student loans, I would not want too much debt financing, because I fear too much money printing could be hyper-inflationary.

 

[Shadow Wolf]

I am confident Biden will sign an executive order forgiving up to $10,000 of student debt for each debtor who had incurred such a financial burden.

I doubt it. That's a drop in the bucket for most borrowers so he'd be angering both sides. One that he did it, and the other that it's a laughably pathetic amount.

 

[Shadow Wolf]

I'd like billionaires and multi-millionaires pay their fair share of income taxes to help fund higher education programs like tuition free colleges as well as debt write offs on student loans, I would not want too much debt financing, because I fear too much money printing could be hyper-inflationary.

We all benefit from an educated populace so we should all pay into it.

 

[Suave]

I doubt it. That's a drop in the bucket for most borrowers so he'd be angering both sides. One that he did it, and the other that it's a laughably pathetic amount.

By God, Shadow Wolf, you are correct. Biden promised a few years ago $10,000 of student debt forgiveness per student loan borrower, Due to inflation, $20,000 of debt forgiveness nowadays would be comparable to $10,000 of debt forgiveness done a few years ago.

 

[Shaul]

Anyone that was foolish enough to borrow money to pay for college owes that money, and no one else. If a college education is truly something so valuable, and guarantees future earnings, then colleges should self-finance their tuition to students without asking banks or any government to guarantee the loans. If the colleges don’t really believe in their product then why should any other lenders?

Furthermore, much of the existing student loan money simply financed years of indolent living or partying. Whiny freeloaders who had it so tough by going to class (the horror!), “finding themselves”, protesting against the latest micro aggression de jure, and drinking lattes deserve whatever wake up call their student loans are giving them. It’s past time they grow up and become adults. For certain everyone else should bear the expense of their debts. No. Hell, no.

 

[Suave]

We all benefit from an educated populace so we should all pay into it.

We will all pay in terms of any inflation caused by the extra spending afforded to us freed from the burden of student debt,

 

[Suave]

Anyone that was foolish enough to borrow money to pay for college owes that money, and no one else. If a college education is truly something so valuable, and guarantees future earnings, then colleges should self-finance their tuition to students without asking banks or any government to guarantee the loans. If the colleges don’t really believe in their product then why should any other lenders?

Furthermore, much of the existing student loan money simply financed years of indolent living or partying. Whiny freeloaders who had it so tough by going to class (the horror!), “finding themselves”, protesting against the latest micro Aggie jure, and drinking lattes deserve whatever wake up call their student loans are giving them. It’s past time they grow up and become adults. For certain everyone else should bear the expense of their debts. No. Hell, no.

Please let us consider the benefits of a better educated society like less crime and increased work productivity.

Top 10 Unexpected Benefits of Education - The Borgen Project (borgenmagazine.com)