Posted on 03/06/2023 7:47:58 AM PST by SeekAndFind
I am vehemently opposed to Joe Biden’s illegal assumption of the power to force taxpayers to assume the burden of student loan repayments on college tuition obligations voluntarily entered into. It’s wrong constitutionally, and it’s wrong morally to force other people to pay for services to others that only a minority receive.
Besides, higher education has devolved into a brainwashing arm of the hard left and has lost all claim to be a general public benefit. The education cartel has abused the public with tuition escalating at three times the rate of general inflation for about half a century now, financing useless, expensive, and counterproductive administrative bureaucracies that now equal or outnumber teaching faculty at many institutions.
But David Catron at American Spectator today raises a terrific point that I have never heard mentioned before, one that should trouble even those who do not share my critique: why should college dropouts be rewarded for their failure to complete the degrees to which they aspired?
Chief Justice John Roberts and Justice Neil Gorsuch did note that it would provide benefits to certain favored persons while ignoring the very real costs it would impose on others, but no one mentioned a fact that will gall most taxpayers — it would cancel student loans for college dropouts.
Remarkably, the Biden administration and most Democrats see this as a selling point for the plan. The White House fact sheet puts it as follows: “Nearly one-third of borrowers have debt but no degree, according to an analysis by the Department of Education of a recent cohort of undergraduates.” The Democrats justify canceling these loans because tuition costs have risen, ignoring evidence that the loans have driven that increase.”
(Excerpt) Read more at americanthinker.com ...
The problem is that the $400 billion program would also “change the lives” of millions of Americans for the worse. How? It will raise the stealth tax known as inflation. As former Clinton Treasury Secretary Lawrence H. Summers put it when Biden announced the scheme: “Student loan debt relief is spending that raises demand and increases inflation. It consumes resources that could be better used helping those who did not, for whatever reason, have the chance to attend college.” It is also unfair to students who finished their degrees and paid off their loans. As Savannah Aleckson wrote in the American Spectator last September:
To be fair, subsidizing failure is a primary feature of the welfare state. And anything that you subsidize, you tend to get more of. See: single parent homes.
I read this morning that FJB has already paid big bucks to the college agitator deadbeats (”Protestors” and “activists”) for having unpaid “student” loans. Those bass turds are going to make great Americans. No wonder they’re out there destroying our history. They want to re-write it with their cellphones.
“it’s wrong morally to force other people to pay for services to others that only a minority receive.”
Horseshiite.
Morally Wrong? Modern politics using the monopoly of violence inherent in Goobermint to give away other peoples money to a favored group to gain personal power.
Rundown the list of Goobermint “giveaways”. It’s a giveaway if you don’t benefit, it’s just “fairness” if you do.
Public Education
SALT deductions of Fed Income Tax
Child Tax Credit
Mortgage Interest “deduction”
Oil Depletion allowance
Medicare
Food Stamps
Any and all “Business” expenses deducted from Income Tax
The Entire Federal Income Tax Scheme
Full Time Government Employees
Bankruptcy
4 in 10 students were not able to graduate but still have student loans? People cannot afford to pay back their loans because they don’t get good paying jobs even if they do graduate?
Among other things , lots of people in this country need some good basic personal finance education.
It’s been said many times on this site, that borrowing money to get a worthless college degree is absurd. On the other hand , borrowing money to get a degree that leads to solid job and career paths, may make sense for some people.
But it all starts with people knowing the facts of financial life. People have to understand that borrowing money menas it must be repaid eventually.
A person borrowed the money to go to college which will be paid back in the future and yet the “high costs” are preventing them from completing the process..... 🧐 sounds like to me that even with a loan students cannot financially afford colleges with their high cost structure.... maybe we should pay students to college plus loan them the money...... after all we must save those colleges! Right now they are losing 40% of their customers due to the process is too expensive, so let’s help out the colleges, taxpayers!
Ping
RE: I read this morning that FJB has already paid big bucks to the college agitator deadbeats (”Protestors” and “activists”) for having unpaid “student” loans.
STUDENT DEBT FORGIVENESS was one of the reasons many recent college grads went out en masse last November 2022 to vote for Democrats.
As Rush Limbaugh used to say — It’s extremely difficult to overcome Santa Claus.
I’m a retired prof. As for students who have debt but no degree, my former university gladly encouraged this. Because of sagging enrollment, the university would admit freshmen who were not academically prepared for college. (More than half of freshmen were enrolled in remedial math, for example.) Every year, more than a third of freshmen flunked out or dropped out, many of them having taken on student loan debt. The university’s basic feeling was, “Well, even if the students don’t stay, at least we got some money out them.”
While I do believe their needs to be recourse for people who were CONNED into going to schools who had no actual educational merit to them... The general case of I quite school so therefor I should be forgiven the debt I signed up for is nonsense.
BS. Universities raises tuitions given the Federalization of student loans. Then universities hired ADMINISTRATORS, not faculty with extra boodle.
The system is broken. Let students who borrowed money repay it.
Jimmy Carter created the Department of Education as a reward to the teachers unions in 1976. They have nothing to do with actual education. They are merely a giant bank. Reagan promised to disband the agency but never followed thru. As a result a college degree from a private tier 1 college went from $20K to $250K in a decade. Public K~12 spending went from $3,700 per student to $27,000 per student. All the time the quality of education was lowered every year. An inverse curve. The more that is spent and borrowed the worse the education.
Kill the beast.
I cannot believe the SCOTUS will let this stand.
After High School, you send in a form to the gov't and they mail you a degree. Everybody gets one, no qualifying, no SAT scores, no quotas, no tuition. We all play, so we all must have prizes!
Of course, we don't want you building bridges or buildings or anything like that. Here's your degree - it's worthless but what do you expect to get for free?
Universities are merely slush funds for political patronage jobs, using federal student loan programs as a funding stream. Politicians now jump in and out and into universities like bullpen pitchers. It began to become out of control during the Clinton administration. After the universities were taken over the government moved on to media and news outlets, which they now use for the same purposes.
A loan for everything and everything for a loan. You just make the plantation holders rich and get nowhere.
The government doesn’t pay its debt.
Students should pay their debt?
Home owners should pay their debt?
Auto loans should be repaid.
Where does it stop?
Federal college loans aren't designed to provide benefits to students. They're designed to subsidize the schools -- regardless of whether or not the students succeed.
This is similar to the business model of drug maker-dealer-addict.
One observation is that student loans are old money in the budget - already spent. New student loans are financed with new money in the minds of liberals.
And a reminder of how this whole business started:
NDSL - National Defense student loans
then
NDSL - National Direct student loans
then
under republicans moved to local banks for a little control and take power from fed
Then
under fed control again, back when libs back under power.
The public announcement and disclosure of that fact proves to be a bit of information which would compromise our democracy and institutions. Therefore it will not be discussed on approved media and network outlets. Content influencers will scrub and redirect social media inquiries of the same.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.