Liz Warren leading charge to forgive student debt, Navient pays $2 billion settlement for giving loans to students who cant pay them back

[LordBrownTrout]

Good for you. How much was your tuition? Mine was $2000 per year - an amount I could make easily working summer jobs. When I graduated, I was making $16,000 per year - double the amount I paid for tuition for a four year program. I graduated with no debt and within a year we bought our first house with a minimum down payment, using the Canada savings bonds I had been buying on the "monthly plan" since I was a teenager. The following year, I bought my first brand new car. By the time I was 28, we had two kids, 2 brand new vehicles, and we had bought a 3 bedroom raised ranch in a nice neighbourhood, with a large down payment from the sale of our first house, which had doubled in value. We were busy redecorating, again, buying new furniture and appliances when we moved.

Today, tuition is $20,000 per year, $80,000 total, and that same entry job pays $50,000 per year. A student might make $6000 pre taxes, over the summer with the right job but that's in Canada where you can wait tables and get $14/hr plus tips. Boomers bought their first homes right out of school Gen X was in their late 20's on average, before they moved out. The millenials are getting married and setting up their first homes in their early 30's. We were buying furniture, cars, houses, having babies in our 20's. Supply and demand and the demands of housing the Baby Boomers fuelled first world economies throughout the 60's and 70's, and even into the 1980's.

Now student debt is chaining young adults to their parents' basement while they get the debt down to sufficiently low levels, or their incomes rise high enough that they can afford to move out. A friend is helping his family to put his niece through school. Several family members are contributing. The school costs $60,000 per year for 4 years. $240,000 total. Starting salary in her chosen field $40,000 per year. It's insanity.

An American friend who attended Smith College in the 1970's and graduated debt free, was able to give her daughter the same advantage, but bemoaned how financially difficult that was for her. And she is definitely what I would consider upper middle class, with family income in the neighbourhood of $500,000 annually. Tuition is currently $54,000 per year at Smith. Nearly a quarter of a million dollars..

It's a real drag on your economy that these kids are lining the coffers of government and the big banks, instead of out spending the money on furniture, cars, and other consumer goods which will create investment and jobs. Interest payments on student debt are fuelling bigger dividends for stockholders, and transferring the young adults income to the top 10% at the fastest rate in US history. The biggest problem with the American economy is the 80% of the wealth of the nation is now going to the top 10%. Working people are being chained to student debts, and ever rising prices with no real increase in wages in 40 years.

Now that the system essentially enslaves young middle class graduates sending their first 10 years of income to pay off the debt incurred for that ticket to the middle class, it's a drag on your economy. And you don't have the sense to realize it or want to change it.

You got yours. Fuck these kids.

More bull. It still doesn't cost that much at the community college or the state university that I went to.

 

[francoHFW]

It's borrowing. People who want things they can't afford borrow money. You don't have to go to college to be successful in life.

Of course we must tax the rich again and have cheap college and training so we can compete with other modern countries who all have that. The United States has fallen behind and is pathetic because it is GOP run the last 40 years.

 

[LordBrownTrout]

Actually Of course it was Bush and Paulson who bailed out the banks and Democrats who bailed out main Street and State local governments, paying for the cops teachers etc etc. But thanks for starting the depression with your corrupt real estate bubble this time, brainwashed functional moron. The GOP does it every time -SNL crisis the pandemic OMG, the world depression of 1929, every time you get the chance stupid. Change the channel for God's sake...

Same broken record. Which message today, frankie?

1.Repub bad
2. Dem good
3. Bush bad

Pull the string!!!!!!!!!!!!!!!!

 

[mudwhistle]

Damn all those Republican colleges!!! Damn them all to hell!!!!!

Yeah.....all of those rich liberals in those universities are really just Republicans.

 

[francoHFW]

More bull. It still doesn't cost that much at the community college or the state university that I went to.

Same broken record. Which message today, frankie?

1.Repub bad
2. Dem good
3. Bush bad

Pull the string!!!!!!!!!!!!!!!!


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It's it's a fact. 9/11 through sheer incompetence, the stupidest wars ever a world depression unbelievable. Great job! All you have is total b******* and stupid insults lol. Change the channel. Poor America.

 

[LeftofLeft]

The lender was PREDATORY and you are a VICTIM!

Just like lazy fat fuck assholes who only eat fast food. THEY ARE VICTIMS!!

Yep. Saw that game with mortgage lending. First, Blacks and minorities were getting denied loans by banks then Congress put pressure on the banks and created these mortgage-backed securities backed by the Government. This loosened up criteria and more people could get into homes they previously could not afford. When they got in and realized they had to start paying principle as well as interest, all of the sudden there was this outcry from Blacks and minorities saying they had been “preyed upon” by the banks.

 

[Dragonlady]

Just because the most intelligent students resist the indoctrination doesn't mean the vast majority don't succumb to it. Logic: it's not just a word you have trouble spelling.

You truly are too stupid to be one person, and you certainly haven't resisted the indoctrination. You believe ANYTHING the Republican cult tells you.

Those who "resisted the indoctrination" are the same members of the Republican Administrations who ended up being indicted or jailed for the roles in criminal conspiracies, or fired for ethics and/or corruption. That's not very bright of them now is it? But it does smack of the sense of superiority and entitlement we so often see among Ivy-League educated Republicans.

Then there's the proven liars of the right wing media - Tucker Carlson attended a liberal arts college. Rush Limbaugh a state school. But they all attended and graduated from college, all while telling YOU that liberal arts schools destroy young minds and turn graduates into drooling commies, incapable of independent thought. And yet they survived with their values intact.

I guess they think you're not smart enough to resist that "indoctrination". Given that you believe these liars, they may be right.

 

[Orangecat]

Of course we must tax the rich again and have cheap college and training so we can compete with other modern countries who all have that. The United States has fallen behind and is pathetic because it is GOP run the last 40 years.

Shut up, you marxist fuck.
If you borrow money, you pay it back.

 

[LordBrownTrout]

It's it's a fact. 9/11 through sheer incompetence, the stupidest wars ever a world depression unbelievable. Great job!

Shrub was an idiot. However, vietnam was more costly but the bush obama wars were stupid...i agree.

 

[Anomalism]

If kids think the government owes them debt forgiveness on the taxpayers dime, they can kick rocks. Time to grow the fuck up and be responsible for the debt you voluntarily acquired.

They don't care what they're owed or not. They just want help because they're struggling, and they're going to vote for whoever will help them. Simple as that.

 

[Orangecat]

You truly are too stupid to be one person, and you certainly haven't resisted the indoctrination. You believe ANYTHING the Republican cult tells you.

Those who "resisted the indoctrination" are the same members of the Republican Administrations who ended up being indicted or jailed for the roles in criminal conspiracies, or fired for ethics and/or corruption. That's not very bright of them now is it? But it does smack of the sense of superiority and entitlement we so often see among Ivy-League educated Republicans.

Then there's the proven liars of the right wing media - Tucker Carlson attended a liberal arts college. Rush Limbaugh a state school. But they all attended and graduated from college, all while telling YOU that liberal arts schools destroy young minds and turn graduates into drooling commies, incapable of independent thought. And yet they survived with their values intact.

I guess they think you're not smart enough to resist that "indoctrination". Given that you believe these liars, they may be right.

You're an imbecile and that's why you are, and always will be, a whiny loser.

 

[Orangecat]

They just want help because they're struggling, and they're going to vote for whoever will help them.

That's what family and charity is for, not government.
It's call "marxism" when you have the government transfer money from those who earned it to those who need it.
Are you a marxist?

 

[ColonelAngus]

That's what family and charity is for, not government.
It's call "marxism" when you have the government transfer money from those who earned it to those who need it.
Are you a marxist?

YES

 

[Anomalism]

That's what family and charity is for, not government.
It's call "marxism" when you have the government transfer money from those who earned it to those who need it.
Are you a marxist?

So food stamps is Marxism and therefore bad? Are you against that even though it helps to facilitate order and peace in this country by keeping people fed? I don't understand why people are so caught up on these stupid labels.

If taxes are Marxism then the Republicans are Marxists too. You can't have a society without taxes, and some safety nets really are good for the nation.

Your approach to this is too binary in my opinion.

 

[ColonelAngus]

So food stamps is Marxism and therefore bad? Are you against that even though it helps to facilitate peace in this country by keeping people fed? I don't understand why people are so caught up on these stupid labels.

If taxes are Marxism then the Republicans are Marxists too. You can't have a society without taxes, and some safety nets really are good for the nation.

Republicans who want high federal taxes are commies. Yes. Now you get it.

 

[BluesLegend]

Student loans are a huge Dem party CASH COW, it's a money kickback scheme to the Dem party. That's why Dems never talk about lowering the price of tuition. Dems love screwing over young people enslaving them to student loan debt to line their own pockets. THIS IS WHO DEMS ARE DO NOT BE FOOLED!

 

[Anomalism]

Republicans who want high federal taxes are commies. Yes. Now you get it.

Which Republicans are not Marxists for agreeing with federal taxation?

 

[Orangecat]

So food stamps is Marxism and therefore bad?

Yes.

Are you against that even though it helps to facilitate peace in this country by keeping people fed?

It keeps people in a state of dependence, like slaves. I'll pass on that brand of peace.

I don't understand why people are so caught up on these stupid labels.

Because words mean things, and attaching a label to things I oppose facilitates identifying them.

If taxes are Marxism then the Republicans are Marxists too.

Taxes are not marxism. They only become that when they are used in a marxist fashion.
Using taxation for infrastructure or national defense isn't marxism. Using taxes to subsidize individual citizens is.
From each according to their means, to each according to their needs.

 

[ColonelAngus]

Don't take loans you wont pay back.

It's not fucking complicated.

 

[Anomalism]

Yes.

It keeps people in a state of dependence, like slaves. I'll pass on that brand of peace.


Because words mean things, and attaching a label to things I oppose facilitates identifying them.

Taxes are not marxism. They only become that when they are used in a marxist fashion.
Using taxation for infrastructure or national defense isn't marxism. Using taxes to subsidize individual citizens is.
From each according to their means, to each according to their needs.

Getting rid of foodstamps and other basic safety nets would be an extremely foolish decision. I don't want a bunch of hungry poor people committing desperate crimes.