Quote:
Originally Posted by LogicalApex
Far from invalid.
The government should be aiming for improving society not turning a profit. Government gives income and property tax breaks to businesses for moving to an area to create jobs for this very reason. PPP loans were totally forgiven under this same premise.
The government shouldn’t be exploiting students as they are here.
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Well unfortunately, I seem incapable of demonstrating to you the flaw in your statements, or you are unwilling to listen, or both. The federal government does not profit from student loans and are not exploiting students as you claim.
I am fully in favor of reforms which would allow these debts to be discharged in bankruptcy like other debt (with the bankruptcy staying on one's credit report until the original maturity date of the loan), with corresponding increases in interest rates to cover the expected losses, and limits on borrowing determined on likely ability to pay based on statistical averages of earnings from selected areas of study, again to protect taxpayers from defaults. There are plenty of options to get an education without incurring six figures of debt, as discussed throughout this thread, there are need and merit based subsidies from government and private sources, and there are some program to reduce payments for people in certain jobs post-graduation. All of this information and all of these options are available to anyone willing to do the work to figure it out. The system is, in fact, designed to benefit society even if you or I or anyone else doesn't agree with the design or have different ideas on how to improve its flaws.
The vast majority of the U.S. population is not going to be in support of unlimited free higher education for as long as one wants, in any field of study the choose. Even if they were and something like that were implemented, taxes would necessarily increase (perhaps through a surcharge on the college educated to make it more palatable to the population at large?) and you'd still be paying for it. There is no "free" and it is in fact fair in the view of the vast majority of people for borrowers to repay their debts with interest and taxpayers to pay their taxes.
Good luck to you in life.