if you cannot repay your debt cause you studied lesbian dance therapy well tough. Any other respectable degree, doctors, lawyers, accountants etc can pay it off. Basic education should be taxpayer responsibility.

Except if you're graduating into a job market devastated by a once-in-a-century pandemic.
Just sayin'...

Everyone wants an out all of a sudden. Pandemic hit every country on earth as the saying goes it also rains on the wicked and good alike. The weak will perish as nature intended.

some of us graduated in the throes of the Great Recession, or 9/11, or Black Monday, or the inflation period of the late 1970s, etc etc

job markets are frequently disrupted and devastated

that said i do lament 100% for the recent graduates and the young people currently in this bastardized version of college right now. they got absolutely the shortest end of the shortest stick possible

Redacting cause TLDR, but student debt should be cancellable at least through bankruptcy worst case. Lenders should eat the loss on the risk they take by lending to low IQ 17 year olds with broke parents. Shouldn't dog the low IQ kids for decades because some lower IQ lender gave em money.

This post was edited by RedFromWinter on Oct 10 2020 09:37pm

exactly right

See my earlier post on this. We do similar in the UK, think it's 9% of gross income over £30k



They usually base the rate from the RPI and add 2% on. The RPI is usually a lot higher than the CPI due to the inclusion of house prices but with corona it may have the opposite effect where the RPI will drop below the CPI, so this should reduce the interest rate on student loans for a while if they're variable

lol

Learn to be responsible. Taking a loan means you have a responsibility to pay it back, this was clear to you the moment you took the loan.

Don't want a loan? Learn to work with your hands, expensive education is not required. Ohwait, before you argue that is for dumb people and you are so much better than that, there's a good reason that college is expensive and it's not for everybody because the country actually NEEDS brickies and carpenters and plumbers.

Inb4 we have illegal aliens to do that work for us

wipe student butts

The allocation of people to white- and blue-collar jobs should be based on propensity and different talents though, not on whose family has more money.

That's really the part where meritocracy falls apart in practice: in a truly meritocratic society, a lot of the sons and daughters of middle class parents would have to "move down the social ladder" and become carpenters, plumbers etc. - low status, "work with your hands and get dirty"-jobs. And they cant possibly accept that, so they throw absurd amounts of resources at their mediocre offspring to keep them in the upper echelons of society, which is turning education into an overcrowded arms race and a 'war' of attrition.

This post was edited by Black XistenZ on Oct 11 2020 06:09am