DF Thread

[system]

http://www.wsj.com/articles/u-s-to-forgive-at-least-108-billion-in-student-debt-in-coming-years-1480501802

Check you PiLf

[curry1]

@Desert Fox

http://www.wsj.com/articles/u-s-to-forgive-at-least-108-billion-in-student-debt-in-coming-years-1480501802

Check you PiLf

angry boomers with pitchforks in the comments section who don’t understand that there are real reasons people go to more expensive/prestigious schools (i.e. to have a chance at actually getting a job), not to brag at parties

[AZ123]

@curry1

@Desert Fox

http://www.wsj.com/articles/u-s-to-forgive-at-least-108-billion-in-student-debt-in-coming-years-1480501802

Check you PiLf

angry boomers with pitchforks in the comments section who don’t understand that there are real reasons people go to more expensive/prestigious schools (i.e. to have a chance at actually getting a job), not to brag at parties

Seriously. The comments sections are always filled with stories of boomers saying they worked during college to pay for it, and act like millennials are just super lazy and don’t work during school. Today, even working full time during school is not enough to pay for undergrad, let alone law school.

[curry1]

@AZ123

@curry1

@Desert Fox

http://www.wsj.com/articles/u-s-to-forgive-at-least-108-billion-in-student-debt-in-coming-years-1480501802

Check you PiLf

angry boomers with pitchforks in the comments section who don’t understand that there are real reasons people go to more expensive/prestigious schools (i.e. to have a chance at actually getting a job), not to brag at parties

Seriously. The comments sections are always filled with stories of boomers saying they worked during college to pay for it, and act like millennials are just super lazy and don’t work during school. Today, even working full time during school is not enough to pay for undergrad, let alone law school.

just do pay 50k in tuition + 15-20 k in living expenses per year by working a part-time minimum wage job. Even many good in-state schools for UG like the UCs in-state cost of attendance is listed at ~35k a year, so ~150k over four years assuming you don’t get screwed on registration. Also, many/most good jobs are effectively inaccessible to people who don’t go to good/great schools, both at the UG and grad levels. https://www.admission.ucla.edu/prospect/budget.htm

[cavalier1138]

Back in my day, we created untenable financial crises for the following generation that we would subsequently blame on their perceived laziness. But do you hear us complaining?

[A_Nony_Mouse]

Foxy’s just jealous no one intends to forgive his $300+k debt (or whatever it’s at by now).

[system]

@A. Nony Mouse

Foxy’s just jealous no one intends to forgive his $300+k debt (or whatever it’s at by now).

Mad jealous

[star_fox]

I’d be cool with making the school that received the money from the student the federal government lent to being put on the hook for the amount of forgiveness.

[bk1]

@WSJ

Growing evidence, however, suggests many of the most hard-pressed borrowers—college dropouts who owe less than $10,000—aren’t taking advantage of the programs and instead workers with graduate degrees, including some doctors and lawyers who don’t necessarily need the help, are.

Shots fired.

[bk1]

@WSJ

And some borrowers with graduate-school loans are refinancing their debt at lower interest rates with private lenders such as SoFi. Congress, through legislation, has set higher interest rates for grad students than undergrads to ensure the programs don’t lose money. When private lenders pick off those borrowers, the surpluses dwindle.

Future refiers might not even be safe.

[curry1]

@bk1

@WSJ

Growing evidence, however, suggests many of the most hard-pressed borrowers—college dropouts who owe less than $10,000—aren’t taking advantage of the programs and instead workers with graduate degrees, including some doctors and lawyers who don’t necessarily need the help, are.

Shots fired.

lol at conflating doctors and lawyers

[Big_Red]

@star fox

I’d be cool with making the school that received the money from the student the federal government lent to being put on the hook for the amount of forgiveness.

schools have needed skin in the game forever, beyond stupid that we’ve allowed this incentive structure in higher ed

one of the primary lessons of the financial crash is that you can’t let the people who originate loans dump off all the risk

[NCGuy]

https://www.washingtonpost.com/news/grade-point/wp/2016/11/30/its-going-to-cost-taxpayers-108-billion-to-help-student-loan-borrowers/?utm_term=.275691e119ff

It seems more of an attack on the Department of Education than the programs itself. This seems important:

Enzi said at the very least there needs to be greater transparency in the way education officials calculate costs, but his office said he is not calling for any major changes to the repayment plans at the moment.

I can’t see a scenario where PAYE and PSLF goes away for current borrowers. Even Obama’s PSLF cap only applied to new borrowers.

[brinicolec]

@bk1

@WSJ

Growing evidence, however, suggests many of the most hard-pressed borrowers—college dropouts who owe less than $10,000—aren’t taking advantage of the programs and instead workers with graduate degrees, including some doctors and lawyers who don’t necessarily need the help, are.

Shots fired.

Maybe WSJ needs to write a piece on why doctors and lawyers who would presumably not need the help actually seriously do lol

[ConfusedL1]

@NCGuy

https://www.washingtonpost.com/news/grade-point/wp/2016/11/30/its-going-to-cost-taxpayers-108-billion-to-help-student-loan-borrowers/?utm_term=.275691e119ff

It seems more of an attack on the Department of Education than the programs itself. This seems important:

Enzi said at the very least there needs to be greater transparency in the way education officials calculate costs, but his office said he is not calling for any major changes to the repayment plans at the moment.

I can’t see a scenario where PAYE and PSLF goes away for current borrowers. Even Obama’s PSLF cap only applied to new borrowers.

Lol. “Even” Obama’s plan??? That would be BEST case scenario not worst. We’re in worst territory.

[A_Nony_Mouse]

Because of Trump? He’s actually proposed a better income-based plan.

[NCGuy]

Removed post…