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President Biden Announces Student Loan Relief for Borrowers Who Need It Most


Kai

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It's partial treatment for a symptom rather than the cause. I guess the means-testing removes some criticism of people who already paid it back (since they're more likely to have exceeded the cap anyway). But the whole higher-ed system needs to be reformed to provide more equal opportunity, whether you come from a rich or poor family.

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Fools / CU / DI / FF / Elu Warlord – TT Captain – TKO / TB / Desc / Tempy Member

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Waste of time. The people who suffer from student loan debt aren't being saved by a 10k reduction. This might help some people finish off their payments, which I'm happy for those people, but the "people who need it most" will still be just as fucked. Higher education in the US is a ridiculous scam and corporations are jointly responsible for requiring degrees for jobs a HS graduate could do. You've got companies who throw degree requirements on the most simple, business-related jobs like a billing clerk or something that pays $20/hr if you're lucky. You could literally spend a month on Brilliant or fuck even YouTube and you could easily be "smart" enough for a majority of jobs in business & tech.

 

But hey man, go spend 4 years in the military killing hajis and then the govt will pay for the whole thing

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6 hours ago, The End said:

Although student loan market is predatory, people should really know better when they take out huge loans for useless degrees that don't net them a job that allows them to pay back the loan. 

 

 

This. We're getting closer to the government having to step in and full on regulate colleges for all of this. Realistically what should happen is either people simply don't go to colleges due to the expenses or people who do go and end up unable to pay off their loans should eventually default on them. This would then trickle down to the colleges and make them realize that they need to restructure their system instead. 

 

Situations like these really make it a win-win for college. Besides that, debt simply cannot be cancelled. The money has to come from somewhere. That's a lengthy discussion on its own granted.

 

I'm not without sympathy, but people don't seem to want to tackle the heart of the problem. 

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as somebody that had the government tell me i needed degrees to do the job that i was passionate about, and then once i graduated worked for the government that didn’t pay me enough to pay back the loan that i needed to pay for their PUBLIC school even after numerous scholarships and grants… yeah i’m down lol

 

fuck for-profit higher education and elitist/classist academia that systematically excludes people from lower socioeconomic backgrounds. 

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Has he done anything to combat the predatory loans aimed at kids who haven't even finished developing their prefrontal cortex yet? And if not, what happens 5 or 15 years from now when the next batch of idiots who took on debt that they couldn't repay start crying? Maybe it's time to require someone [ie, parents] be the guarantor of a student loan before they're approved to make sure it's paid back, or limit government backed loans to STEM and the like. 

 

Seems like a slap in the face of those who did the responsible thing by buckling down to pay what they owed. Or those who eschewed the debt trap via trade schools, gi bill, etc. 

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Probably because so far he hasn't asked foreign countries to help him win elections, obstructed justice, or tried to overthrow Congress and install himself as Supreme Leader.

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Fools / CU / DI / FF / Elu Warlord – TT Captain – TKO / TB / Desc / Tempy Member

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