GOP wants to grab student loan payments right out of your paycheck

[Curtis Harper]

What stops colleges from charging a million a semester?

May I ?

You can charge whatever you want. A person doesn't have to buy it. Especially if they can't afford it. So, most likely, a lack of students will prevent them from doing that.

You know when TV's get all new tech and their prices are $8k plus ? The price plummets because most people aren't going to buy an $8k tv.

[Redd Foxx]

This idea that it's the lender's fault... How about they stop giving student loans then and only kids with families willing to pay get to go to universities. Is that what you prefer?

The lenders are helping people get a start in life. I'm not going to bash on people who fail to succeed after school. They have my sympathy. But, you gotta take responsibility for your loans. If you went into it thinking paying it back was optional, then that's on you.

[-Kev-]

It's about time these loan payments are enforced. Most of these deadbeats are dumbasses who squandered their loans on a liberal arts degree and then cried when the best job they could get was making cappuccinos at Starbucks.

I would urge anyone graduating high school or looking for a new career path to take on a trade. I went back to school later in life to get my Master's and I can tell you that there is hardly anything useful being taught in colleges these days outside of medical or science/engineering majors. Too many curriculums emphasize social identity politics...inclusion, diversity, and lessons in white guilt. For this they want to charge $60K per year? F*** that, become a HVAC tech, electrician, plumber, etc. and earn a better living than some MBA graduate who are a dime a dozen.

Is that really the answer though?

Increasing tuition, schools raising it because government is giving out unlimited loans for it, or you can take out a private student loan and pay for it.

And your answer is "it's about time these loan payments are enforced"?

Instead of having, maybe, lowered tuition or some other option? Maybe a merit based option?

Your answer is, yes raise tuition and take their money away automatically?

[Vasyl’s dad]

I didnt go to college because I didnt want to pay back so much money. I do thank you for your tax contributions though. It helps me feed my kids. I cant get work since I dont have the degree or training. I cant get the degree or training because it costs too much. I love me some capitalism though.

[Lomasexual]

What stops colleges from charging a million a semester?

In a model with mixed providers, both public and private, the presence of the public providers exerts downward pressures on price.

Like with K-12 education. There is both public and private providers. The private K-12 schools can charge a million dollars if they really want to, but they are unlikely to get any clients - and if they did, the clients would be footing their own bill, not the taxpayer.

This model can be extended to tertiary education easily, although I think there would need to be caveats - such as the education provided publicly needs to directly benefit the public, like STEM topics, and not useless (or destructive) courses like gender studies.

[Sugar Adam Ali]

May I ?

You can charge whatever you want. A person doesn't have to buy it. Especially if they can't afford it. So, most likely, a lack of students will prevent them from doing that.

You know when TV's get all new tech and their prices are $8k plus ? The price plummets because most people aren't going to buy an $8k tv.

But most students can’t afford it now, but still go because taxpayers foot the original bill

Most people when buying TVs don’t have taxpayers picking up the purchase price. If idiots could get a federal Tv loan, you best believe they buying them 8k TVs.


Just look at housing crash, using your logic, these people would have never bought the houses they couldn’t afford, but obviously they did.. see the difference

When a third party (government) guarantees payment, the buyer doesn’t care about price, and the seller will raise it


Now what you are talking about is the invisible hand of the free market, but that only exists when buyers n sellers are taking on the cost/risk, once the risk/cost is removed by government , the market is artificial and not the invisible hand of free market.

But what you are saying is absolutely correct. If students and their families were footing the bill for tuition, you wouldn’t see these crazy increases in tuition and colleges would actually be in a price war for students.

That is why guys like myself and 1bad65 are always harping about government intervention, all they do is create bubbles. You saw it in housing, and now you will see it in student loans.

[Curtis Harper]

But most students can’t afford it now, but still go because taxpayers foot the original bill

Most people when buying TVs don’t have taxpayers picking up the purchase price. If idiots could get a federal Tv loan, you best believe they buying them 8k TVs.


Just look at housing crash, using your logic, these people would have never bought the houses they couldn’t afford, but obviously they did.. see the difference

When a third party (government) guarantees payment, the buyer doesn’t care about price, and the seller will raise it


Now what you are talking about is the invisible hand of the free market, but that only exists when buyers n sellers are taking on the cost/risk, once the risk/cost is removed by government , the market is artificial and not the invisible hand of free market.

But what you are saying is absolutely correct. If students and their families were footing the bill for tuition, you wouldn’t see these crazy increases in tuition and colleges would actually be in a price war for students.

That is why guys like myself and 1bad65 are always harping about government intervention, all they do is create bubbles. You saw it in housing, and now you will see it in student loans.

You're talking 1mil minimum across the board. If every college went that route, no one would go unless they could truly afford it. Loan interest would be insurmountable. A normal person would never catch up.

I used a physical object like a tv as a poor example, I guess. If you can actually touch/feel/hold something, a person might be able to take that risk and buy it. That immediate satisfaction of the purchase.

We all go in knowing the thing we just bought is wildly depreciating in value every second. How can you put an absolute future worth on your education ?

I'm probably not expressing my pov clearly. I'll mull it over and see if I made any sense (to myself at least).

In any event, a person takes out a loan, THAT person should pay it back in full.

[Removed Now]

Irish. And before that Germans, I suppose. Lost of Chinese in the West. Then indentured white slaves and forced black slaves in the 18th century ad earlier.

So it seems America always had some type of labor force to do the dirty work , it just seems like America has a problem paying decent wages which opens the door to illegal immagration . Then people want better jobs go get the loan debt for school.

That's what happens also when we switch from a manufacturer country to a service country.

[Removed Now]

This idea that it's the lender's fault... How about they stop giving student loans then and only kids with families willing to pay get to go to universities. Is that what you prefer?

The lenders are helping people get a start in life. I'm not going to bash on people who fail to succeed after school. They have my sympathy. But, you gotta take responsibility for your loans. If you went into it thinking paying it back was optional, then that's on you.

Some of those kids sign those fasfa documents at 17 & 18 years old they don't anything about debt , job and etc. They should require the lawyers or school teachers to sit down with the parents and students to better explain the contract. The craziest thing is they don't even run a credit report on the barrower or the co signee. They run a credit report now on cable but not on student loans ? You are going to give a kid 100k for school ? And run no credit report ? Not even tell the kids what majors They should consider , never look at the kids high school gpa? Nothing ? So I don't blame the kids it's been a money grab since the jump. You can't even get a bank loan for a car that easy now a days.

[Removed Now]

Delinquencies continued to climb even as the unemployment rate fell below 4 percent, suggesting the strong U.S. job market hasn’t generated enough wage growth to help some people manage their outstanding obligations.

Income levels for graduates “are not necessarily high enough for debt payments overall,” said Ira Jersey, Bloomberg Intelligence interest-rate strategist. “If you have a choice to pay your student loan or for food or housing, which do you choose?”