Agree on every point! Why challenge this when it benefits so many drowning in student loan debt. If the government bails out the auto industry, banks, etc., why not college grads?
My late father had the ability to pay for my college. I went for one year, decided I hated it (at the time I, unfortunately, didn't get the difference between hating the school and hating college), and left to go to "business school" (Stone (fka School) Academy you were really good in the late 70's/early 80's). That was also funded by my father. One of my biggest regrets is how I f'd around with my education, but that's a conversation for another day. That being said, I don't know about college loans. I do, however, know that people are getting robbed. As for loan forgiveness? DO IT! Loan forgiveness does not affect me, but it certainly would be a godsend to a lot of rather hard-working people I know that have been saddled with these loans for decades.
We fully fund grammar school and high school, why not college? That's what the Nordic countries do and they're among the most well educated countries in the world.
Back when this was first proposed I posted my full support in a FB post. A fraternity brother and college classmate of mine attacked me referring to me as a rich boy from CT…..in my retort I set him straight as best I could telling him how not all who call CT home are wealthy! In my case I worked full time while going to community college full time. I had to make up for not doing diligence with my high school studies. After 2 years I was able to transfer to a 4 year college which was a financial struggle BUT I survived, graduated and after a few years paid off my student loans. I fully support student loan forgiveness while understanding those who object. If government can bail out banks, automobile corporations, etc. we can help our overburdened college grads?!?! How’s that for WOKE?
Pretty damn good, I’d say. My experience mirrors you. Small college that had just switched to a four-year school for two years. Big out-of-state school to graduate. Yes, it was a struggle but I wasn’t buried under a system that charged me criminal interest rates.
A big AMEN!, Susan. People here have articulated their personal experiences in cogent and affecting ways, and though I was privileged not to incur student loans (actually, I don't believe they even existed when this dinosaur went to college) I now recognize that status as an unearned (and unappreciated) benefit. Higher Ed costs are now astronomically inflated compared to my student days. One year at my alma mater is now about 32 times more expensive than when I attended. Other than "health care", I can't envision another private-sector area where costs have risen so sharply.
Relevant though that may be, a larger issue (for those who want an economic argument) is the waste of talent and skill among our young people who spend their time and energy (limited resources) working at less-than-optimal jobs so they can cover high-interest loans. Industries bemoaning a lack of skilled employees need these people; there's a vast misallocation-of-resources issue here. But that's a whole other conversation.
When the goofballs that I know start crying about student loan forgiveness it comes across loud and clear that they are jealous
Jealousy is an emotion of insecure and immature people
Goofballs that I know cried about free community college and wondered why it didn’t apply to trade schools
I always love explaining to someone that is supposed to be an adult that Manchester technical community college or Springfield technical community college or Asnuntuck all offered trade classes
Goofballs never really think things through
And explaining something to them leaves them stewing about having someone explain something that they could have and should have known themselves
When I graduated college in 1972, my first job paid slightly less than $10,000/year. My rent was $175/month for a one-bedroom apartment in Danbury. I had a full scholarship for tuition, but I lost my room & board money my senior year for failure to attend meetings of a group I was supposed to participate in. So I graduated owing an $800 loan. I don't recall how long it took me to pay it off.
Tuition inflation has far outpaced the cost of living. The reasons are many and varied, and many of them need to be fixed. But here we are. I don't begrudge anyone's forgiveness of student loans. I want my fellow citizens to enter into their chosen professions happily and willingly, not grudgingly and exhaustedly.
That's exactly how I feel. It stinks to watch young adults struggle with the ridiculous interest for something they were told since birth was important.
I took out loans equaling $5,500.00 way back then. It paid for my undergraduate and graduate degrees. I paid it off over 10 years at $62.86/month. Education was affordable back then. You could work and pay for your fees and tuition and not go into major debt. What is happening today in the higher ed system is almost criminal.
I went to college in the 70s. My parents were expected to contribute $200 a year and me $600 from summer work. They didn’t have it so I did the $800. The rest was government grants and loans. It took about 4-5 years to pay them off.
My 30 something kids went to college in the early to late 2000s. We helped all we could but they also had work money, scholarships and loans. At the ages of 33 and 40 they are still paying on the loans.
Both work non profit jobs. The little amount of 10k is a drop in the bucket but it’s something. I pray they will get it and someday be able to buy housing.
Agree on every point! Why challenge this when it benefits so many drowning in student loan debt. If the government bails out the auto industry, banks, etc., why not college grads?
My late father had the ability to pay for my college. I went for one year, decided I hated it (at the time I, unfortunately, didn't get the difference between hating the school and hating college), and left to go to "business school" (Stone (fka School) Academy you were really good in the late 70's/early 80's). That was also funded by my father. One of my biggest regrets is how I f'd around with my education, but that's a conversation for another day. That being said, I don't know about college loans. I do, however, know that people are getting robbed. As for loan forgiveness? DO IT! Loan forgiveness does not affect me, but it certainly would be a godsend to a lot of rather hard-working people I know that have been saddled with these loans for decades.
Amen. This is an easy fix. Wipe the slate and let’s move forward.
We fully fund grammar school and high school, why not college? That's what the Nordic countries do and they're among the most well educated countries in the world.
What Stan said.
Back when this was first proposed I posted my full support in a FB post. A fraternity brother and college classmate of mine attacked me referring to me as a rich boy from CT…..in my retort I set him straight as best I could telling him how not all who call CT home are wealthy! In my case I worked full time while going to community college full time. I had to make up for not doing diligence with my high school studies. After 2 years I was able to transfer to a 4 year college which was a financial struggle BUT I survived, graduated and after a few years paid off my student loans. I fully support student loan forgiveness while understanding those who object. If government can bail out banks, automobile corporations, etc. we can help our overburdened college grads?!?! How’s that for WOKE?
Pretty damn good, I’d say. My experience mirrors you. Small college that had just switched to a four-year school for two years. Big out-of-state school to graduate. Yes, it was a struggle but I wasn’t buried under a system that charged me criminal interest rates.
A big AMEN!, Susan. People here have articulated their personal experiences in cogent and affecting ways, and though I was privileged not to incur student loans (actually, I don't believe they even existed when this dinosaur went to college) I now recognize that status as an unearned (and unappreciated) benefit. Higher Ed costs are now astronomically inflated compared to my student days. One year at my alma mater is now about 32 times more expensive than when I attended. Other than "health care", I can't envision another private-sector area where costs have risen so sharply.
Relevant though that may be, a larger issue (for those who want an economic argument) is the waste of talent and skill among our young people who spend their time and energy (limited resources) working at less-than-optimal jobs so they can cover high-interest loans. Industries bemoaning a lack of skilled employees need these people; there's a vast misallocation-of-resources issue here. But that's a whole other conversation.
For all of our benefit, let's just do this.
Exactly. Let's just do this. We all benefit.
Our country has an immaturity problem
When the goofballs that I know start crying about student loan forgiveness it comes across loud and clear that they are jealous
Jealousy is an emotion of insecure and immature people
Goofballs that I know cried about free community college and wondered why it didn’t apply to trade schools
I always love explaining to someone that is supposed to be an adult that Manchester technical community college or Springfield technical community college or Asnuntuck all offered trade classes
Goofballs never really think things through
And explaining something to them leaves them stewing about having someone explain something that they could have and should have known themselves
When I graduated college in 1972, my first job paid slightly less than $10,000/year. My rent was $175/month for a one-bedroom apartment in Danbury. I had a full scholarship for tuition, but I lost my room & board money my senior year for failure to attend meetings of a group I was supposed to participate in. So I graduated owing an $800 loan. I don't recall how long it took me to pay it off.
Tuition inflation has far outpaced the cost of living. The reasons are many and varied, and many of them need to be fixed. But here we are. I don't begrudge anyone's forgiveness of student loans. I want my fellow citizens to enter into their chosen professions happily and willingly, not grudgingly and exhaustedly.
That's exactly how I feel. It stinks to watch young adults struggle with the ridiculous interest for something they were told since birth was important.
I took out loans equaling $5,500.00 way back then. It paid for my undergraduate and graduate degrees. I paid it off over 10 years at $62.86/month. Education was affordable back then. You could work and pay for your fees and tuition and not go into major debt. What is happening today in the higher ed system is almost criminal.
I agree entirely.
I went to college in the 70s. My parents were expected to contribute $200 a year and me $600 from summer work. They didn’t have it so I did the $800. The rest was government grants and loans. It took about 4-5 years to pay them off.
My 30 something kids went to college in the early to late 2000s. We helped all we could but they also had work money, scholarships and loans. At the ages of 33 and 40 they are still paying on the loans.
Both work non profit jobs. The little amount of 10k is a drop in the bucket but it’s something. I pray they will get it and someday be able to buy housing.
So even with all the programs where people who work in certain fields can get their loans excused or reduced, it's still not enough.
It’s a struggle. My son’s salary is barely liveable and we’re helping him all the time.
This economy cannot prop itself up if people who work cannot support themselves.
I totally agree.
That's good economics. Thanks.
Precisely. It's a whole different world out there now.