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Title: The Student Debt You Willingly Took On Is Not My Problem To Solve
Source:
Federalist
URL Source: https://thefederalist.com/2019/08/1 ... lingly-took-not-problem-solve/
Published: Feb 17, 2020
Author: Margot Cleveland
Post Date: 2020-02-17 10:52:38 by IbJensen
Keywords: None
Views: 5359
Comments: 30
Apparently, the majority of Democratic presidential contenders want to parade student debt sob stories around. These stories don't show the full picture Of all the pandering showcased during Democrats’ attempts to win back the presidency, wiping out student debt ranked at or near the top. “I believe that education is the future for this country,” socialist Sen. Bernie Sanders barked during the first round of Democratic primary debates, explaining that’s why we must “eliminate student debt and we do that by placing a tax on Wall Street.” Sen. Amy Klobuchar spoke similarly. “I can tell you this,” the Minnesota senator demagogued, “if billionaires can pay off their yachts, students should be able to pay off their student loans.” There can be no serious discussion of this issue, however, in 60-second sound bites. So, beyond the soak-the-rich shtick that shades every Democratic economic debate point, the candidates resorted to two tactics: shock and sob stories. The Shock Strategy The size of student debt provides the jolt necessary to peddle their plans to the American populace. “I got $100,000 in student loan debt myself,” California Rep. Eric Swalwell bemoaned. “College affordability is personal for us,” South Bend, Indiana, Mayor Pete Buttigieg shared, noting that his household has “six-figure student debt.” So, sure, “I believe in reducing student debt,” Buttigieg announced. Next came the sob stories. Those student loans are suffocating a generation, the candidates suggested. After all, “40 million of us who can’t start a family,” the diaper-changing daddy Swalwell contradictorily proclaimed, adding that they “Can’t take a good idea and start a business and can’t buy our first home.” “We can’t put people in a position where they aren’t able to go on and move on,” frontrunner Joe Biden agreed. Tellingly, when not constrained by the debate format, these same politicians push the same narrative to garner support for bailing out student loans, all while the media provides the Democrats a free assist. “With loans totaling more than $130,000,” Buttigieg’s household is “among the 43 million people in the United States who owe federal student loan debt,” the Associated Press reported last month, before highlighting the myriad plans to bail out student debt pushed by a cadre of presidential candidates. The AP then furthered the narrative by using statistics to shock the public into socialism: The debtors are so numerous and the total debt so high—more than $1.447 trillion, according to federal statistics—that several of the Democratic candidates have made major policy proposals to address the crisis. Their ideas include wiping away debt, lowering interest rates, expanding programs that tie repayment terms to income and making college free or debt-free. Student loan debt is often discussed as an issue that mostly affects millennials, but it cuts across age groups. Federal statistics show that about 7.8 million people age 50 and older owe a combined $291.9 billion in student loans. People age 35 to 49, a group that covers older millennials such as Buttigieg as well as Generation X, owe $548.4 billion. That group includes more than 14 million people. Sob Stories Reign Supreme Then the sad tales continue the sales pitch for a government solution to student debt—a ploy that began well before the 2016 elections. Here’s one of myriad media examples. “Shayna Pilnick, 28, would like to buy an apartment but can’t afford a mortgage. Jacqueline Mannino, 23, and her boyfriend, Benjamin Prowse, 26, want to get married. Jacob Childerson, 24, and his wife, Jennifer, 25, wish they could start a family, but they live with Jennifer’s parents,” is how USA Today opened its 2013 profile of millennials unable to obtain their dream life because they are “tethered” to “tens of thousands of dollars in student loan debt.” There are many ways to counter these arguments, based on both economics and equity. But it’s hard to counter soundbites with sense, so instead, here are my inquiries for these politicians, the press, and all the students demanding relief from the burdens of their debt: Tell me your sob stories from age 12 on, not what you can’t do now, but what you couldn’t do then. Tell what you had to do then and through college to avoid what is now, to you, crushing student debt. What time did you get up to deliver papers in junior high? How many hours a week did you work since 14 to save for college? How many toilets did you scrub? How many high school football games did you miss because you were working? What dream college did you forgo to avoid taking out student loans? Which 8 a.m. class did you take so you could complete your major’s requirements and still work in the afternoon? Which bus line did you take to get to your job because you didn’t borrow to buy a car? What job did you work full-time while completing your MBA at night? What did you do to afford college? What didn’t you do because of the cost of college? Were you getting tattoos and traveling your way through college? Were you pledging and partying? Did you go to your top-choice university? Maybe an out-of-state public university with higher tuition rates? Which spring break and study abroad destinations did you visit along the way? Did you splurge on your fairytale wedding instead of paying down your student loans? What cars did you buy or lease? Where did you live? What electronics did you own? What clothing and other personal expenditures did you have? In short, show me the money and how you spent it! None of my business? You’re right. Nor is your student debt my business or my problem.
Poster Comment: The central socialist government fans want the nanny state to wipe the little ones' asses;, coddle them all the way to the voting booth so the little shits will vote Socialist (Communist). When they grow to maturity there will be many suicides. In 1960 the average tuition was under $3,000. Today it tops $53,000. More administrators and an office of the dean stuffed with extra bodies to pay. Rather like the offices of your congressrat and senator.
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#1. To: IbJensen (#0)
WE didn't. They did.
Here's part of the problem: "In a poll of college students who are planning to go on spring break this year and who currently have student loan debt, nearly a third (30.60%) of them stated that they’re using student loan money to help pay for their spring break trip, according to research from LendEDU." How else are college students spending their loans? -- 23.80% of respondents said they’ve used student loans to pay for drinking alcohol
Government sponsored student loans should only be awarded to students pursuing a STEM (Science, Technology, Engineering and Mathematics) degree. Currently, 40 percent of bachelor's degrees earned by men and 29 percent earned by women are now in STEM fields. This group is most likely to pay back the loan. If an individual wishes to major in Black Studies, Women's Studies or Global Warming Studies, they can apply for a private student loan.
Only the sob stories of those who took out a ridiculous loan for a useless degree. Where are all the sob stories of the people who sacrificed and saved for college? Who did without? If student loans are to be forgiven, will they also be reimbursed? Or will their taxes be used to pay others?
Will Berniezuela give rebates to plumbers, carpenters and those who paid for their college education through hard work and sacrifice? No? Then fuck off, greedy democRat parasites.
Nope. Their federal income taxes will be used by Bernie to pay off the loans of students who majored in "fashion design" and "art history" and can't get a job.
Dittos...MUD
"Devolve Power Outta the Federal Leviathan and Back to the States, Allow student debt to be wiped clean with a bankruptcy. Let the banks eat the debt, if they didn't require collateral it is NOT MY PROBLEM. For that simple reason, they deserve to lose their asses.
THIS IS A TAG LINE...Exercising rights is only radical to two people, Tyrants and Slaves. Which are YOU? Our ignorance has driven us into slavery and we do not recognize it.
Creating countless millions of dispossessed young people, trapped in debt and not having a stake in the system, might have consequences. FDR saw it clearly, giving them a "new deal" to recover and advance. One has to be either old or brainwashed, not to see that.
There are currently 44.5 million student loan borrowers in the United States. Together, these borrowers owe $1.5 trillion. Roughly $1.4 trillion of that is owed to the U.S. government in the form of federal student loans. The rest is private student loans. Meaning a bankruptcy would mainly affect taxpayers. You know, those people who saved and paid for college and got a job without a loan. College is expensive enough. I don't think it's fair to ask people to pay for their own and someone else's.
In 2005, George Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act, which exempts federal and private students loans from discharge. Now, the lending institutions have no skin in the game and can write sketchy loans (for worthless degrees) all day long. This in turn has driven up the cost of tuition beyond what most teens and their parents can pay out of pocket. Consequently, desperate people are willing to turn our nation into a commie state just to get out of crushing debt.
They will, because it will be in their interest. Or they might prefer the European model, or at least the return to the system before 2005 bankruptcy act: https://prospect.org/politics/bidens-votes-on-the-bankruptcy-bill-middle-class-joe/
Warren, the only candidate who opposes the BAPCPA, is an un-electable moron. And while Bernie voted against the bill way back then, he is strangely silent on BAPCPA now. Bolshevik Bernie's 'Free College For All/Cancel All Student Debt' plan...lol The people imagine a vain thing.
By law student loans are ineligible for bankruptcy. Looks like the government is running a protection racket for lenders. Remember when we found out that the Department of Education had a swat team? https://www.heritage.org/crime-and-justice/commentary/beware-the-us-education-department-swat-team
I was simply responding to the hypothetical. "Looks like the government is running a protection racket for lenders." Smart move, since the government is the lender 90% of the time.
He provided federal jobs for everyone who needed one. He did not write checks to a select group of people totaling $1.5 trillion. That would be a "Raw Deal" for the people who scrimped and saved and paid their own way through college.
How much debt, American students had to get in 1940s, 1950s and 1960s? How indebted are students in Europe? Or in China for that matter? Well, when free public education was introduced in civilized countries it was a "Raw Deal" for the few who paid for it earlier. Do you want to return to the dark ages? BTW, the wars in Iraq and Afghanistan costed much more. Perhaps it was not an accident that GBW/Biden bill was introduced when they were starting? Do you think that it is good for the future, to keep young generation in debt servitude?
Had to? Back then, you could either afford to go to college or you couldn't. No lending institution was stupid enough to give money to a C- high school student who wanted to get a 4-year degree in Gender Studies. But back then we had high school vocational education courses where students could pursue a career not requiring a bachelor’s degree -- a career which would support a family.
Socialist Trump
True.
No, but I didn't put them into that situation to begin with. That was their decision. Perhaps the money was wasted because they weren't college material. Or their degree was useless. Or they borrowed more to attend a big- name school instead of a state college. Or they didn't attend a two-year community college first. Or they refuse to work for less than 6 figures because they are, after all, college graduates. Did these little Einstein's have a plan for college? Or was their plan to borrow $100k, party hard for 7 years at college, then vote for any Presidential candidate promising to wipe out their debt?
No, but I didn't put them into that situation to begin with. That was their decision. Of course. But my question was, what is good for the country?
What is good for the country is to rid this next generation of the Entitlement Mentality. RATS are sickening society with this ridiculous notion that everybody owes anybody a free lunch...MUD
"Devolve Power Outta the Federal Leviathan and Back to the States, What is good for the country is that these people make the correct decision, then take personal responsibility for their actions. But asking that question after the fact is not fair -- it's like asking what a father should do after finding his 16-year-old is pregnant. Better to ask what the father should do before his 16-year-old gets pregnant.
Well stated...shut the barn door BEFORE the horse gets out.
"Devolve Power Outta the Federal Leviathan and Back to the States, Well, you tend to reduce everything to individual responsibility while feeling very righteous at the same time. Do you have a daughter?
Bingo. Suddenly you realize that the lender, not just the borrower, has a responsibility to make a viable loan. But with protection from the law, lenders can be as stupid as they want to be. I remember Bush announcing the passage of the student loan bankruptcy law as clearly as I remember Kennedy being killed. I knew instantly that my kids (9 and 10 years old at the time) would not be going to college. As soon as the law passed, the debt enslavement began. Overturn that law and the market may very well correct itself.
I'm not feeling righteous. I'm feeling pissed off at people who do whatever they want, then expect the rest of us to pick up the pieces. "Do you have a daughter?' Do you have AIDS?
If they're allowed to. Try to turn down a college loan to a C- black student who wants to major in Black Studies at Stanford. The college loan program is no different than the subprime mortgage program. Lenders are forced, by the government, to make loans to people who do not have the ability to pay them back.
Sounds like what got the banks in trouble with the Sub-Prime Mortgage Crisis...the Federal Guvment is immune from learned wisdom and is destined to make the same grave errors over and over again...MUD
"Devolve Power Outta the Federal Leviathan and Back to the States,“We can’t put people in a position where they aren’t able to go on and move on,” frontrunner Joe Biden agreed.
#2. To: IbJensen (#0)
-- 33.40% said they’ve used student loans to buy clothes and accessories
-- 33.40% said they’ve used student loans to pay for restaurants and take-out
-- 6.60% said they’ve used student loans to pay for drugs
-- 5.60% said they’ve used student loans to pay for gambling or sports betting
#3. To: IbJensen (#0)
#4. To: IbJensen (#0)
Sob Stories Reign Supreme
#5. To: IbJensen (#0)
(Edited)
#6. To: Hank Rearden (#5)
Will Berniezuela give rebates to plumbers, carpenters and those who paid for their college education through hard work and sacrifice?
#7. To: Hank Rearden (#5)
"No? Then fuck off..."
Localities, and Individuals as Prescribed in the US Constitution."
#8. To: misterwhite (#1)
#9. To: jeremiad (#8)
Allow student debt to be wiped clean with a bankruptcy. Let the banks eat the debt, if they didn't require collateral it is NOT MY PROBLEM. For that simple reason, they deserve to lose their asses.
#10. To: jeremiad (#8)
Allow student debt to be wiped clean with a bankruptcy. Let the banks eat the debt,
#11. To: jeremiad (#8)
Allow student debt to be wiped clean with a bankruptcy.
#12. To: watchman (#11)
Consequently, desperate people are willing to turn our nation into a commie state just to get out of crushing debt.
#13. To: A Pole (#12)
They will, because it will be in their interest.
#14. To: misterwhite (#10)
Meaning a bankruptcy would mainly affect taxpayers.
#15. To: watchman (#14)
By law student loans are ineligible for bankruptcy.
#16. To: A Pole (#9)
FDR saw it clearly, giving them a "new deal" to recover and advance.
#17. To: misterwhite (#16)
(Edited)
He did not write checks to a select group of people totaling $1.5 trillion.
That would be a "Raw Deal" for the people who scrimped and saved and paid their own way through college.
#18. To: A Pole (#17)
How much debt, American students had to get in 1940s, 1950s and 1960s?
#19. To: Hank Rearden, Socialist Trump, The Best (#5)
Health Insurance “For Everybody” and the “Government Will Pay” Says “Republican” Donald Trump. AGAIN.
Ron Paul - Lake Jackson Texas Values
#20. To: misterwhite (#18)
But back then we had high school vocational education courses where students could pursue a career not requiring a bachelor’s degree -- a career which would support a family.
#21. To: A Pole (#17)
Do you think that it is good for the future, to keep young generation in debt servitude?
#22. To: misterwhite (#21)
"Do you think that it is good for the future, to keep young generation in debt servitude?"
#23. To: A Pole (#22)
Localities, and Individuals as Prescribed in the US Constitution."
#24. To: A Pole (#22)
But my question was, what is good for the country?
#25. To: misterwhite (#24)
Localities, and Individuals as Prescribed in the US Constitution."
#26. To: misterwhite (#24)
(Edited)
What is good for the country is that these people make the correct decision, then take personal responsibility for their actions.
it's like asking what a father should do after finding his 16-year-old is pregnant. Better to ask what the father should do before his 16-year-old gets pregnant.
#27. To: misterwhite (#18)
No lending institution was stupid enough to give money to a C- high school student
#28. To: A Pole (#26)
Well, you tend to reduce everything to individual responsibility while feeling very righteous at the same time.
#29. To: watchman (#27)
Suddenly you realize that the lender, not just the borrower, has a responsibility to make a viable loan.
#30. To: misterwhite (#29)
"Lenders are forced, by the government, to make loans to people who do not have the ability to pay them back."
Localities, and Individuals as Prescribed in the US Constitution."
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