Student Debt Forgiveness

[SeattleGriz]

Basically, Covid isn’t an emergency anymore when it doesn’t fit our agenda, and is still an emergency when it does. She comes across as dumb as a box of rocks trying to defend this.

I liked how she basically said the economy was shit and why they needed help.

[kalm]

Up until 9/11, how many of those beneficiaries actually had to see significant service during extended conflict?

Which POTUS since 9/11 was the most non-interventionist over that time? If we shouldn't be fighting wars that benefit the MIC then why is that POTUS so vilified?

Is there something wrong with people giving something of value (their time) in exchange for something of value (funds for post-secondary education)? How much do people value something that they get for nothing?

Too many.

Trump.

No. If they’re gracious they see and honor the value. Do hawks value war profiteering?

(Side note: I think compulsory military service (without exception) might help here. )

[kalm]

This. As for current debt holders their saved money goes back into the economy.

[GannonFan]

This. As for current debt holders their saved money goes back into the economy.

The irony is that the current debt holders most crying for relief obviously weren't smart enough, and maybe aren't now, to avoid getting into a massive debt hole in the first place. Education doesn't automatically reduce the number of stupid people. This board has plenty of examples of that.

[kalm]

This. As for current debt holders their saved money goes back into the economy.

The irony is that the current debt holders most crying for relief obviously weren't smart enough, and maybe aren't now, to avoid getting into a massive debt hole in the first place. Education doesn't automatically reduce the number of stupid people. This board has plenty of examples of that.

[AZGrizFan]

This. As for current debt holders their saved money goes back into the economy.

Ah….the trickle down theory applied, eh? It’s as dumb here as it was back when.

[Baldy]

The irony is that the current debt holders most crying for relief obviously weren't smart enough, and maybe aren't now, to avoid getting into a massive debt hole in the first place. Education doesn't automatically reduce the number of stupid people. This board has plenty of examples of that.

Where did this clown get his numbers?
The median price of a home is $200K.

[UNI88]

Where did this clown get his numbers?
The median price of a home is $200K.

Or $440,300

[Baldy]

Where did this clown get his numbers?
The median price of a home is $200K.

Or $440,300

I guess the search engine defaulted to my home state.

No wonder people are moving down here in droves.

[kalm]

This. As for current debt holders their saved money goes back into the economy.

Ah….the trickle down theory applied, eh? It’s as dumb here as it was back when.

Huh…what!lol?

[HI54UNI]

Social media posts on this are interesting. Saw a lady cheering about it because she is a single mom, has student debt because the GI Bill didn't cover all her college, and her income is too low. Never used the GI bill but wondering what college did she go to that it didn't cover most or all of it so she still has debt and what was her major that her income is too low to pay it off. And even better she then admits she is in the 3rd year of paying $20k a year for her kid to play junior hockey in the hopes that he will be able to turn pro someday.

She is getting roasted by people.

[UNI88]

Or $440,300

I guess the search engine defaulted to my home state.

No wonder people are moving down here in droves.

Yep.

Your number seemed low when you factor in that the majority of Americans live in suburban and urban areas where prices have increased significantly over the last few years so I did a quick search.

88.1 had a choice between Georgia and Southern California at the same salary when he graduated. Guess where he's living?

[Baldy]

I guess the search engine defaulted to my home state.

No wonder people are moving down here in droves.

Yep.

Your number seemed low when you factor in that the majority of Americans live in suburban and urban areas where prices have increased significantly over the last few years so I did a quick search.

88.1 had a choice between Georgia and Southern California at the same salary when he graduated. Guess where he's living?

I hope your youngin' picked the great state of Georgia.

[UNI88]

Yep.

Your number seemed low when you factor in that the majority of Americans live in suburban and urban areas where prices have increased significantly over the last few years so I did a quick search.

88.1 had a choice between Georgia and Southern California at the same salary when he graduated. Guess where he's living?

I hope your youngin' picked the great state of Georgia.

That he did. He wanted California but he looked at how far his money would go and made the smart decision.

[Baldy]

I hope your youngin' picked the great state of Georgia.

That he did. He wanted California but he looked at how far his money would go and made the smart decision.

California is a nice place to visit...for a short time.

[houndawg]

Social media posts on this are interesting. Saw a lady cheering about it because she is a single mom, has student debt because the GI Bill didn't cover all her college, and her income is too low. Never used the GI bill but wondering what college did she go to that it didn't cover most or all of it so she still has debt and what was her major that her income is too low to pay it off. And even better she then admits she is in the 3rd year of paying $20k a year for her kid to play junior hockey in the hopes that he will be able to turn pro someday.

She is getting roasted by people.

I'd think it should have.

In the 70s I received a check for $342 monthly and in CA there was no tuition at juco for residents of the district. She probably didn't have enough held out of her pay to cover her costs. PPPPPP......

[houndawg]

Yep.

Your number seemed low when you factor in that the majority of Americans live in suburban and urban areas where prices have increased significantly over the last few years so I did a quick search.

88.1 had a choice between Georgia and Southern California at the same salary when he graduated. Guess where he's living?

I hope your youngin' picked the great state of Georgia.

Now if you can just find 11,779 more...

[kalm]

Moving forward…

despite some inevitable shortcomings, it’s tough to argue with the success of the GI Bill. It was more than just free tuition and it supported a generation of innovators and professionals that provided a massive ROI. For every $1 spent, $7 came back into the economy.

We could use something similar.

The public impact

The GI Bill is generally lauded as a runaway success, with many historians, economists and sociologists agreeing that the bill did all it was intended to do - and more.[12] It caused a revolution in American life in terms of homeownership and access to higher education. It enabled millions to climb the socioeconomic ladder, achieving standards of living that would otherwise have been out of reach.[12]

According to the Department of Veterans Affairs (VA), “the GI Bill had more impact on the American way of life than any law since the Homestead Act of 1862”, whose significance lay in propelling the westward expansion of the US population by offering 160 acres of land to any man or woman (including freed slaves).[4]

Before the war, college and homeownership were, for the most part, unreachable dreams for the average American. Only 10-15 percent of young Americans were able to attend college, and university campuses had become known as a haven for the most privileged classes.[1][5]

The VA reports that 7.8 million of the 16 million veterans returning from the second world war took advantage of GI Bill's education opportunities, with 49 percent of college admissions in the peak year of 1947 being veterans utilising the bill's funding.[1][9] The number of degrees awarded by American colleges and universities more than doubled between 1940 and 1950.[13]

As well as avoiding the situation where millions were suddenly looking for work, by giving veterans the option of going to college, the GI Bill effectively transformed higher education in America. Stereotypes of college students being the wealthy, the privileged, and subsequently members of an old boy's network were cast aside as the veterans proved themselves overall to be hardworking, disciplined and capable students. Stipends even allowed those with families and dependents to study or train.

The huge increase in the number of students led to colleges implementing widespread improvements and an expansion of university facilities and teaching staff to reduce overcrowding in classrooms and residences. An array of new vocational courses were developed across the country, including advanced training in education, agriculture, commerce, mining, and fishing - skills that had previously been taught only informally.[5] That the bill funded the education of 22,000 dentists, 67,000 doctors, 91,000 scientists, 238,000 teachers, 240,000 accountants and 450,000 engineers - as well as 3 Supreme Court justices, 3 presidents, 12 senators, 14 Nobel Prize winners and 24 Pulitzer Prize winners - is testament to its extended impact on American society.[14]

Millions of veterans took advantage of the GI Bill's home loan guarantee. From 1944 to 1952, the VA backed nearly 2.4 million home loans under the programme.[1] By 1955, that total had risen to 4.3 million, with a total face value of USD33 billion.[13] These home loans had a transformative effect on American society, allowing millions of families to move out of urban centres to build or buy homes outside the city, thus making suburban life a norm for people from all social backgrounds.[5] Veterans were responsible for buying 20 percent of all new homes built after the second world war, and the results rippled through the rest of the economy.

By 1956, when the GI Bill expired, the education and training provisions of the bill had paid out USD14.5 billion. However, the VA estimated the increase in federal income taxes alone would pay for the entire cost of the bill several times over. Congress estimated that for every dollar spent under the GI Bill, the US economy received seven dollars in return.[14]

https://www.bcg.com/about/overview

[AZGrizFan]

Moving forward…

despite some inevitable shortcomings, it’s tough to argue with the success of the GI Bill. It was more than just free tuition and it supported a generation of innovators and professionals that provided a massive ROI. For every $1 spent, $7 came back into the economy.

We could use something similar.

https://www.bcg.com/about/overview

Something similar? You realize there’s been some form of GI bill since its inception, right?

[UNI88]

Moving forward…

despite some inevitable shortcomings, it’s tough to argue with the success of the GI Bill. It was more than just free tuition and it supported a generation of innovators and professionals that provided a massive ROI. For every $1 spent, $7 came back into the economy.

We could use something similar.

https://www.bcg.com/about/overview

Something similar? You realize there’s been some form of GI bill since its inception, right?

There's also a thing called Public Service Loan Forgiveness where

If you have worked in public service (federal, state, local, tribal government or a non-profit organization) for 10 years or more (even if not consecutively), you may be eligible to have all your student debt canceled. Now, for a limited time, it is easier than ever to receive that forgiveness, or get credit toward forgiveness, if you have not yet served 10 years.

[kalm]

Moving forward…

despite some inevitable shortcomings, it’s tough to argue with the success of the GI Bill. It was more than just free tuition and it supported a generation of innovators and professionals that provided a massive ROI. For every $1 spent, $7 came back into the economy.

We could use something similar.

https://www.bcg.com/about/overview

Something similar? You realize there’s been some form of GI bill since its inception, right?

I do. Hence…”similar”.

For example…compulsory 2 year military/civil service with college or trade school tuition options after completion.

[AZGrizFan]

Something similar? You realize there’s been some form of GI bill since its inception, right?

I do. Hence…”similar”.

For example…compulsory 2 year military/civil service with college or trade school tuition options after completion.

I’ve been a fan of compulsory service for about 40 years.

[houndawg]

Up until 9/11, how many of those beneficiaries actually had to see significant service during extended conflict?

Which POTUS since 9/11 was the most non-interventionist over that time? If we shouldn't be fighting wars that benefit the MIC then why is that POTUS so vilified?

Is there something wrong with people giving something of value (their time) in exchange for something of value (funds for post-secondary education)? How much do people value something that they get for nothing?

Too many.

Trump.

No. If they’re gracious they see and honor the value. Do hawks value war profiteering?

(Side note: I think compulsory military service (without exception) might help here. )

It would but Viet Nam put an end to that for good - Congress hates to hear from parents of kids drafted wanting to know exactly what this shit is about

[houndawg]

I do. Hence…”similar”.

For example…compulsory 2 year military/civil service with college or trade school tuition options after completion.

I’ve been a fan of compulsory service for about 40 years.

Military if you're young and fit - otherwise, Navy.

[CAA Flagship]

I’ve been a fan of compulsory service for about 40 years.

Military if you're young and fit - otherwise, Navy.