Let's start with the obvious. Some politicians want to cancel student debt. Student debt? Are you kidding? It is definitely not about student debt. Imagine all the debts that students have. Many students are bad poker players and have a lot of poker debt. Some have car debt. Some have grocery debt. Some owe their parents for their education but in most cases it is the parents that have the real education debt. Many of these parents are lawyers and other well paid folks.
This whole political thing is not about student debt. Apparently it is mostly about money that parents/children borrow to go to college. College? You know, that's the place where students, who were treated as prisoners in high school were finally emancipated and sent to dorm rooms where they could party at night and oversleep in the morning. The amount they spend on one weekend's partying at the frat house dwarfs the actual cost of their required sociology course.
Boo hoo. Student debt. What is with our liberal progressive politicians that they are turning their backs on people who need real help so they can help EVERYONE who borrows for college?
Who is getting bailed out here? Yep, parents for sure. But what about the colleges? If students don't have to pay to go to school -- they are writing checks to universities on accounts that have borrowed money which doesn't have to be paid back. Not only are the kids/parents skating but the colleges are being subsidized too. Without these non-repayable loans, how would people pay the colleges for their services? In the usual old way-- out of checks from accounts or from loans they actually have to service.
Now that's the grabber. If they actually have to use real debt or real money to pay for school, they will be judicious with their money. Maybe junior won't go to the Ivy League where one semester's tuition costs more than a new Lamborghini. Maybe junior won't take a random sampling of courses for years on end before graduating. Maybe junior will think as much about supporting herself as she consumes the latest woke news from her long-haired professors.
When you buy most things, you ponder a bit. Do I really want/need this thing? What do I have to do without if I buy this thing? You make reasoned choices. If college education is essentially free, do we handle decisions about it with the same attitude as buying a house or a car? Is this degree really worth the money I am really paying for it? Is there a way to get the full benefits of a college education at the lowest possible cost?
Nope. Some of our politicians want you to have a free college education.
Don't get me wrong about one point. I am not saying that government cannot find ways to subsidize people who cannot afford it. We need social policies that help the poor and a university education ought to be part of that. But writing off student debt in general is not the right way to do that.
Canceling guaranteed student loans is irresponsible! This is the worst form of risk management, not holding people accountable for their responsibility to pay their debts. It encourages waste and punishes thrift!
ReplyDeleteThanks Anony. Direct and to the point.
DeleteDear LSD. Nyet, it’s definitely not a good idea . . . further, it’s an horrendous/horrible/harmful ‘n stewpid idea. Out of deference to yer devoted devourez of yer infinite macro wizdom I won’t bore’m with numerous and copious reazonz why. Suffice it to say it’s a nudder example of liberal/regressive propositions from the lefitz govomit offerings from Free Stuff U.
ReplyDeleteGovomit shud git out’a edukation, period . . . sed it, there ‘n then . . . dun duna dun dun. Two ‘n half ‘ourz to the ‘appiest of all ‘ourz. Cheerz!
Thanks Tuna. This debt cancel thing is one of the dumber ones lately. They make it so easy to criticize them!
DeleteI hear ya Larry, but in 1968, a 4-year public college, complete with room & board was $323.00 annually, in 2022, it eclipses $10k. Private universities eclipse $30k annually. If you're a poor or lower middle-class kid taking out loans, you enter life with a degree and $40k in debt. But most decent jobs these days prefer a graduate degree, so let's add another $25k. College debt is crippling society. The fact that European countries provide college for free to their college students just adds insult to injury. These progressives pushing for student debt cancellation are just trying to help young college grads compete in the game of life against their more privileged counterparts. My aunt & uncle paid for my cousin to attend a private college prep school, then 4-years if Ivy league, and 4-more years of med school. Gee, that sounds nice. God bless the birth lottery!
ReplyDeleteThanks Unknown. Good points. Not an easy issue. Life is clearly not equal and often seems unfair. But wholesale cancellation of debt just ain't the right answer.
DeleteYep, life is indeed unfair. Kinda like when Trump passed his 2.3T COVID relief package and Democrats supported it too, and then 80% of the $$ went to his corporate pals & cronies. Even Tom Brady got some $$. Debt cancellation for thee, but not for me.
DeleteDear Unk. I acknowledge yer pain. Weally twooly I do. Unfortunately, there is no cure for TDS . . . aka Trump Derangement Syndrome where he livz rent-free in yer hed 24/7/365. But don’t fret Unk . . . Elon will allow your misinfo on his new Twitter . . . you’ll be able to rant ‘n rave along with all other folkz who wear tinfoil hatz. N’ make shure you pay all yer debtz, too, cuz Pocahontas and Bernie ‘the Comm’ Sanderz wantz you to pay yer fair share . . . it’s only ‘murikan that you do. Cheerz . . . it’s ‘appy ‘our 😊.
DeleteSince these programs were offered numerous new colleges sprang up. They offered courses and degrees at very high tuition but no relevance to the working job market of the present or future. I have several friends who have children and young adults in these colleges...learning nothing about nothing but the "kicks" are for free. College is for creating learned people who can in many ways better their lives and contribute to this country.
ReplyDeleteThanks Anony. Like in everything else important, we have to do our homework. Not sure why people get scammed by overnight educational institutions.
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