Home Forums Hunting & Shooting Hunter's Campfire Student Loan Debt Forgiveness......

The shylocks would then require co-signers, which would most likely be parents. And then we parents would be on the hook for slacking kids. Back in the early 80's, I actually had to co-sign for my fiance, since her dad was laid off at the time. Bankers will always win.

Bingo! It was a scam to begin with. They didn't count on off-shoring and in-shoring cheap foreign labor to kill off any opportunity for debt strapped students to find a job.

I’m 42. Had about $20k in loans with an engineering degree. Your friends son should have paid attention in some math classes on how interest works.

People say these student borrowers should be treated just like everyone else who borrows money. I agree - allow student loan debt to be dischargeable in bankruptcy, just like other debt.

That would be fine with me. I'd rather be on the hook for my own kids, rather than everybody else's.

Over my life time I have borrowed some large sums of money, no one ever said lets forget it, if you borrowed the money, no matter what you borrowed it for, you pay it back or your creditors will fore close on what assets you have, and will file on all your future income till the debt and interest is paid. these student loans should be fore closed on if they are in default, and the schools should be responsible for their lending, who to and what for and the ability to pay back the loan in a timely manner. there ain't no free rides in the real world, the sooner they learn, to count the better. I am debt free and have been for over 40 years. Rio7

When asked, the majority of students with loans stated they would go on a vacation if the government forgave their loan. Probably great news for Disneyland, but hardly the productive moves that Biden stated.

Hmm, the parents don't have to sign for their slacking adult kids. Somebody needs to make tough choices on whose education should be invested in and whose should not.

I'm very happy I got my degrees, worked my butt off to keep loans to a minimum, carried as much as 21 credits per semester, summer school, part time work, and still found time to major in girls.... It gave me choices, the opportunity to work in the office as well as outdoors as I saw fit, and choose the way I wanted to earn a business. Business and economics classes are helpful to this day in runnign my operation.

I'm very happy my daughter got her degrees, working very hard, minimal loans, she went overseas to get her Master's because tuition was 3K per year...... Nothing worthwhile having is easy. She's working in her field and thriving and enjoying her career.

I'm very happy my son did not finish college. He has some challenges with a severe form of dyslexia, and a mind that should be outside doing things instead of sitting in front of a computer all day. He found out while working through college that it would lead him to a place he should not be. No loans, and started his own business instead. The business is very successful and he's enjoying the heck out of life now.

Our generation was told we absolutely needed a degree to have a successful career and be middle class or better. As a result, there's an over supply of degrees, and many plumbers and electricians make more than lawyers and teachers. I don't think that's a bad thing.

Almost no 18 y/o is bankable for a conventional loan for the amounts needed. Lots of parents aren’t either, for that matter. It wouldn’t really work to make college available only to the kids from wealthy families. We need more educated workers than that.

Bankruptcy? Virtually every student is bankrupt on graduation day. I sure was. Imagine the number of personal bankruptcies if they could all just wipe the slate clean. Taxpayers would end up with the bill anyway.

The elephant in the room is the crazy high cost of higher education. Cheap loans with easy payment terms just make the cost spiral further out of control. Nobody on the Left has any interest in controlling those costs. Lots of those dollars are funneled right back to them.

No loan forgiveness-- you took the loan, you pay it

We are teaching two generations to be extremely entitled. I’m glad I get 18 months to fire people at will before they get union representation.

Exactly. And some parents will have to recognize a poor investment and tell their kids “no”.

I put one kid through college and am in the process of putting another through. It doesn't have to be all that expensive if you do it right. They'd have no problem paying their expenses with a part time job had I not agreed to cover it for them.
I look at it as an investment. If I don't have to feed them after they graduate and get a job, I'll be ahead. It worked for the first one.

Loans aren't for wealthy kids. They are for kids who choose a major at a school that will likely enable them to repay the loans. Other choices shouldn't be given loans.

They tried that in the mortgage industry until the democrats said that was racist and ANYONE should be able to qualify for a loan. We are in the same place as the student loan program. Shocking...

The easiest way to sort this out is to make the school receiving the student and loan cosign for the loan. When the student fails to pay, the school must make up the balance. Two things will happen, schools will start teaching curriculum that guarantees employment, and loan defaults will be a thing of the past.

+1, and if they are, the institutions that made the loans can deal with the defaults.

Ever since Obama federalized all student loans the students have been headed for trouble. I got mine back when loans weren't federalized. My interest rate was 1.625% and after making 48 on time payments I got a 1% rate reduction and they locked the rate after that. My rate was less than 1 % for most of the life of the loans.

I paid extra when rates on savings accounts were lower and when savings rates went up I paid the regular payments and put what extra I had in savings or towards my mortgage. It took me several years to pay them because the rates were so good it was my last debt. I actually paid my new home off before paying student loans.


I believe the loan programs were much better before the feds took them all over. They used to be pretty good about limiting how much you could borrow. This was nearly another big bonus for the bloated Marxist infested academia. Got to keep all those professors tenured in their $180,000 a year jobs were they teach 3 classes a week 2 semesters a year when their not on sebatical or spending a semester doing research or traveling on the university dime.

Bb