Wish they would but I’m not expecting it all. By the time my nieces and nephews get to college it’ll be 100K a year. It’s insane what they charge. My kids tuition is about 50 a year. I could do a lot with that money.
Originally Posted by 1blackman1
consider what your kid can do with the education. i presume your nieces and nephews are their parents responsibility rather than yours? they'll also benefit.
that said, i'm completely opposed to large scale student debt cancellation. Biden can't act unilaterally even Pelosi said so and the Supreme Court is very unlikely to support it. it's a matter for Congress and it still has very little chance to become law because it sets a dangerous precedent to eliminating various types of debt in this case student loans. what's next? car loans because some dummy bought a car he couldn't really afford? mortgages? such things would close off virtually all types of lending if applied widely. what bank is gonna finance a car or home knowing Congress might "wipe out" the debt? would Congress make the lenders whole for their losses? they'll be doing that with your taxes. why should i pay for some dude's education when he picked a poor degree to major in?
that's the problem here. many of these gen whatever people picked poor career paths and can't make a living as a "pan-African studies" major. now they want out of the loans. sorry. pay up.
also where's my reparations for my student loans that i PAID OFF? college wasn't nearly as expensive in the 1980's as now but that's not the point. i borrowed a substantial amount for school. i also majored in IT not basket weaving. if this actually happens which is very unlikely you'd see a huge class action lawsuit by people like me who did pay off their loans. now i make a low six figure income for it.
now here's a story how certain degrees while mostly useless can actually work out. had a buddy in high school who was an all-city wide out on the football team who got a DII scholarship to some small school to play football. he wasn't going to go to the NFL but he did get a scholarship. what did he major in? History. in part because he liked history and also he figured it'd be easy. so he graduates and realizes unless he wants to be a History prof or some museum type he was limited by his degree. so after a few years bumming around in construction jobs by chance he met a friend of a friend hanging out one night who happened to a recruiter for the US Coast Guard. the recruiter told him, correctly, that with a degree he qualified for officer's candidacy school. so he decided to give it a shot for a 3 year enlistment as an Ensign. he could have been a staff officer but chose to be a line officer on a Coast Guard ship. he figured hey it's only 3 years if he didn't care for it he'd try something else. he not only liked it but as a line officer if he stayed in he'd eventually be in line to command a Coast Guard cutter. he's retiring this year after serving 40 years at the rank of Rear Admiral.