How do we solve the student debt crisis?

How do we solve the student debt crisis?

Other urls found in this thread:

nber.org/chapters/c13711.pdf
trends.collegeboard.org/college-pricing/figures-tables/tuition-and-fees-and-room-and-board-over-time-1
finaid.org/educators/history.phtml
m.huffpost.com/us/entry/3622709
bloomberg.com/news/articles/2014-08-18/college-tuition-costs-soar-chart-of-the-day
investopedia.com/articles/personal-finance/081216/who-actually-owns-student-loan-debt.asp
youtube.com/watch?v=_w61HI9ewCo
twitter.com/NSFWRedditGif

We let retards who earn shit tier degrees die of starvation so that they can't breed tardlings

>kill boomers
>millions of well paying jobs now available
>????????
fixed

Let them starve.

Make them pay it back?

This is pretty much DeVos education policy.

Civil forfeiture of the assets of the top 1%


Take all the money stolen and give it back to productive members of society

Abolish federal student loans, forgive all outstanding loans and pay for it by ending all federal funding to universities nationwide.

Did you know most jobs don't require a degree from a 4 year college?

Perfect!

I think attitudes towards education and jobs have to change.

College professors have NEVER agreed to train students to be "work ready on day 1" like Obama claimed. College professors are incapable of training students to be work ready, so why are we even depending on them?

Americans need to train each other for jobs once again. Trump is making this a more realistic goal by limiting H1B visas and taking isolationist policies. I'm not sure if it will work as planned though.

you pay it off, retard. it's not that complicated.

started with $35k not even three years ago and now i'm down to under $5k. the rest is at 3.2% so who really gives a fuck if i don't pay it off immediately.

...

I know you're trolling, but still, this is a retarded plan.

1.Build wall.
2. Kick the illegals out.
3. Protective tariffs.
4. Bring back our jobs.

Then after all that give it 10 years and the boomers will finally retire. Then it's our people's time to shine.

I'm in a similar boat, but I don't want to spend the next three years paying back loans. I dont like it here and im planning on leaving anyway. I'm thinking of just leaving.

>boomers die
>corporations import millions of poo in loos driving down the wage of those same jobs
>Americans still rekt

...

You don't. This is gonna enslave a whole generation to banks exactly like your boy Trump wants lol

do nothing, force students to pay asap
fuk em

be rich

Why?

We have the panama papers we have names. Why not?

Get rid of libshit indoctrination courses.

BOOM enrollment declines by 90% because womyn can't into STEM

Less demand, lower costs, no crippling student debt

Get a real degree, faggot. Fuck off back to /lgbt/ or /vp/.

Just the ones with health care, retirement plans, job security and slightly above slave wages. Unless you plan to craw around in attics covered in fiberglass or hump 80lb bags of S mortar around for the rest of your life (which will be short from the alcoholism and chain smoking) you probably want a degree.

Way back in highschool they told us if we didn't get at LEAST a 4 year degree we were going to be working at McDonalds and living under a bridge basically. Its fucked how hard public school administration shills for the colleges and propagates more student debt.

Illegals don't take professional jobs that College grads want

The issue is white nepotism and the fact that you need to know people to get jobs which none of you whites want to admit

I'd you're white and unemployed you are a literally shit tier human being. Full stop. No excuses

Mandatory loan forgiveness. This isn't the fault of the students, it's the fault of others, and it's up to others to take responsibility.

Remove privatized banks. In your case, the Federal reserve needs to be nationalized. For Canada, weve been trying to retake the Bank of Canada that Trudeau sold in 74 to the jews. You can pinpoint the minute the jews took over Canada on the graph to the right.

Our current plight is that no one even knows about COMER. It's literally the biggest case of one of our greatest lawyers career and one of the most important things discussed in Canadian history and just do a quick search on COMER vs the Bank of Canada and see how many articles you find. Complete media black out. No discussion, no CBC articles, no Global News, nothing from Canada discussing it. Ever.

We built the fucking St Lawrence Seaway and highways and infrastructure pre-1974. We had social welfare and healthcare then. Somehow, Trudeau had an economic education and understood the OPEC oil crisis that was causing the economic depression at the time, but still chose compound interest at high rates from private banks over interest free government run national banking and sold our freedom to the fucking jews.

If you want to solve debt crisis, fix your fucking private banks that have enslaved you.

Remember how this guy busted trusts? I think academia needs an equivalent shakedown.

Lmfao if you think Trump will side with a bunch of unemployed people over banks

Abolish FAFSA.

we laugh at all the students with huge amount of debt. thats how we solve the debt crisis.

It's literally the plan he presented during his campaign. He's a populist, not a standard bootlicker Republican.

think of it this way: when you pay off a loan now, you're guaranteed not to have to pay the interest later. for example, imagine if you have $1k in loans now, and in a year the loan will accrue $100 in interest. if you pay it off now, you'll be down $1k. if you pay it off in a year, you'll be down $1,100. a penny saved is a penny earned. so, in a way, paying off a loan now is essentially equivalent to having an extra $100 in your pocket a year from now.

i know paying off loans are boring, but you gotta do it.

I'm currently taking courses at my local CC, and I'm gonna get my Associates in General Ed.

I have $85,000 in student loan debt. I have no degree. I was an orphan and the only way to pay for college was to take out student loans. If I didn't take out student loans I couldn't go to college and if I didn't go to college I couldn't make something of myself. Student loans and credit were thrown upon my 18 year old ass in 2002. Everyone took out debt including compsnies, home owners, banks, etc so it was as easy to obtain as breathing. Economy crashed. Home owners got bailed out, the schools ta loaned me moneygotbailed out, banks got bailed out, but I was left with debt in a depression without job opportunities. Now Im 33, makes $90,000 a year, and I can't buy my first house BC of the student loans. Don't have health care. Can't fucking win even though I work more hours than slaves did. Please check me kek and save my white privileged ass.

>no federal or state money may be spent on grants, loans, or other forms of tuition assistance for candidates of non-STEM degrees
>mathematics up to and including calculus 2 are required for ALL degree programs (weeds out 75% of the college population)

0/10

so what came first, the boomer or the poo in loo? And if we kill of boomers/force them to retire wont the younger red pilled white collars hire their own?

Stop giving them guaranteed government loans and massive grants. The cost will plummet.

stop going to expensive colleges? most these stories I don't see how they managed to run up such a bill.

Your debt follows you, unless you can somehow fake your death but then your cosigner (mom and dad) will have to foot the bill.

If your debt could just disappear via moving then everybody would've moved.

Because people are morons. If you clear everyones debt once, they'll just expect it in the future. You can't eat the rich more than once.

get rid of brick and mortar universities, get rid of 400 dollar textbooks, get rid of bloated administrative bureaucracy, get rid of egotistical commie professors, get rid of multimillion dollar sports programs.

make all classes online with automated programming.

Why don't you respect the labor force that holds your society together? Someone has to do it - even if literally everyone in the next few years had a degree, many would still be doing such work.

Is online college the way of the future?

I feel like a zero out of ten type person right now.

Free college to those studying STEM like Engineering and such. Fuck liberal arts every cuck nu male takes that shit and my tax dollars shouldn't go towards that. I've met more redpilled people in STEM.

>Stop funding schools with tax dollars.
>Colleges will be compelled to lower cost and stop spending tax dollars on building stadiums.
>Don't bail them out.
>Make them an example of students who thought taking about $100,000 loan to get a degree in Gender Studies isn't exactly a wise decision.
>Responsibility resumes

>Private debt
>Crisis

Recently, research has counterintuitively indicated a need to scale back the financial aid we offer prospective students since such policies have thus far made higher education LESS affordable. [1]

In response, there has been one main criticism to that research: "How in the world could increased college assistance have come BEFORE increased tuition costs?" "Go ahead," exclaim the skeptics, "look at the historic record. Tuition increases came first! They were not CAUSED by expansions in financial aid!"

We decided to fact check this critique by doing precisely what was asked; looking at the historic record.

[The following dollar figures have all been adjusted for inflation.] From 1971 to 1981, annual tuition and fees for higher education only rose $2 for a public two year facility. [2] You read that correctly. ONLY two dollars. For a public, four year state school, in state tuition and fees had actually DECREASED $190. For the same period of time, a private four year institution, ALSO decreased by $304. [2] This is very important to note. It means that the cost of higher education was NOT rising at an alarming rate at this point in history. Rather, it had actually decreased or, at most, broken even. (depending on the circumstance) Since that time, however, tuition unfortunately inclined sharply.

So then, what is the record on financial aid for higher education? Unlike the claims from the critics, expansions in financial aid programs DID come BEFORE the start of the tuition crisis. Federal financial aid had its start in 1958, with the National Defense Student Loan Program for low-income students, the precursor to the Perkins Loan Program, and soon after with the Health Professions Educational Assistance Act of 1963 [a]. Note, however, these were relatively small programs and therefore didn't necessarily distort the market in any impactful way. They truly were helping low income individuals, and thus were not wide-scale programs.

Where did Trump advocate for student loan forgiveness?

Stop going to college?

It wasn't until later, in 1965, 1972, and 1978, when the financial aid that we recognize today began to take hold. In 1965, for instance, the precursors to the Pell Grant and Stafford Loans were created as part of the Higher Education Act. [3] At that time, a key change occurred in the way federal tuition loan programs were financed. "Instead of using government money directly, the loans would be made by bankers. But if students defaulted, the government guaranteed that IT would cover the tab." [4] Think about this perverse incentive for a moment. It meant that capital could be offered in the form of student loans under the presumption that profit from said loans could be kept privately, but if and when losses arose, banks and investors wouldn't have to lose their money since TAXPAYERS would foot the bill. Effectively, this was socializing losses while privatizing gains. It would take years for this perverse incentive to grow into a large scale problem, but it eventually did.

>Study STEM
>go to community college for 2 years
>graduate with half the debt of a normal person
>pay it off in a few years
>proceed to make bank

I think it's time we ate them before they kill us with their nukes.


>Do you have a bunker?

In '72, the precursor to the Pell Grant was created, but more importantly, Sallie Mae was created by Nixon and the Congress. Sallie Mae was a firm that received help from the treasury to buy student loans off of banks, freeing the banks to then offer even MORE federally insured loans. [4] From that point forward, banks had nothing to lose by offering loans since they - quite literally - could ONLY profit from the exchange. That meant a bank's sound underwriting reasoning, which typically would lead them to decline risky or unreasonable loan requests, was no longer present. If that weren't bad enough, the most important change came in 1978 with the Middle Income Student Assistance Act, which expanded federal student assistance programs to include middle-income students in addition to low-income students. [3] This is where everything changed. From this point forward, most of these financial aid programs were no longer limited to a minority of low income applicants, but instead became the norm for nearly the entire populace. Under this arrangement, loans would eventually be made to nearly everyone regardless of the requested price of tuition, and tuition would therefore be free to rise unchecked since no financial institution was saying "no." It should be no surprise, then, that this was the last decade our nation enjoyed relatively affordable tuition. Since that 1978 expansion, the cost of higher education increased more than 13 fold; about 1,225 percent. [5] To put that into perspective, in the same time period, ordinary inflation (CPI) had only increased 279 percent. [5]

The bubble will burst like in 08 housing crisis. Then banks will get bailouts! The little man will go bankrupt(they'll need to change laws)

CONCLUSION:
NO, massive and alarming increases in tuition did not occur PRIOR to expansions in financial aid. The expansions in financial aid occurred PRIOR to the tuition crisis. We have a legitimate problem on our hands, and it's important that it be properly diagnosed if we are ever to fix it.

Sources:
[1]
nber.org/chapters/c13711.pdf

[2]
trends.collegeboard.org/college-pricing/figures-tables/tuition-and-fees-and-room-and-board-over-time-1

[3]
finaid.org/educators/history.phtml

[4]
m.huffpost.com/us/entry/3622709

[5]
bloomberg.com/news/articles/2014-08-18/college-tuition-costs-soar-chart-of-the-day (also the source of the graph)

>An associates in STEM means more than jack shit

Stop offering student loans.

do not study

>Then banks will get bailouts!
Almost all student loans are federally guaranteed. The government is actively causing this mess, just like they caused the housing crisis, but this time it is taxpayers on the hook directly. It is not like mortgages where housing prices crashed and people had a tangible asset decline in value by 40% or more.

investopedia.com/articles/personal-finance/081216/who-actually-owns-student-loan-debt.asp

You go to a (((university))) for 2 years after your associated to finish a bachelor's degree.

yeah, we could always just star eating everybody.

youtube.com/watch?v=_w61HI9ewCo

>Student loan bubble bursts
>Oh no my BA in Gender Studies is now worth 40% less!

This. Go back to need based for very poor who were smart.

Lets be honest this is whats already happening.

its silly that the internet has not destroyed the education system yet. how the hell the education system spends billions upon billions of dollars and soaks up 12 years of a persons daily life yet produces "graduates" who are barely fit to work at mcdonalds is so far beyond me. its the absolute biggest waste of time and money in history

Lmfao

They can't sell their Gender Studies degree and the federal government can't foreclose on it.

>go to community college to test the waters
>dont take out 100k in loans for a film degree

Seriously, its their faults their in debt, millenials need learn fiscal responsibility and that their actions have consequence.
These pansies need to learn basic cause and effect and that they just cant be bailed out.

So in short, Millienials, PAY DEBNTS

stop buying useless education with money you dont have.

Believe me, you don have to tell me. Three years is if I pay 1000 a month (my payment is probably 400 something). I'm making below the industry average salary in my area even though I can do the same job as the veterans due to the "muh experience" meme.

Thing is I just severely don't enjoy it here. I'm already making plans for leaving. I know paying off debt is the "right" thing to do, it's just I don't want to be miserable every day for the next three years. Everything is my new place, a white wife, a home I will pay for, possibility of going back to school to continue to learn for free, a family, I'm just sitting and wasting my time here on what precious life I have left.

Go learn a trade its much cheaper.

lets be clear, universities are as much a business as everything else, they just have more regulations by the gov. so its mostly greedy people at the top fucking people over. ex. "new" textbooks every year marketed to professors

make degrees that earn less cost less (or get rid of them completely), get rid of the education as business model, or force people to get well paying jobs and responsibly pay back their loans

I had no co-signer.

Give every snowflake the title "college educated" with or without college education. They just need to say "I want to be college educated" and they get a piece of paper saying as much. This is all most of them want. They don't care if that education is actually useful. So just go ahead and ruin the term "college educated" as it will be ruined before the next decade anyway. Then only the people that are pursuing a college education to advance real careers will go to college. And they will pursue degrees with a better ROI. Because all the snowflakes already got their trophy, there will be less students overall attending actual college. So the cost will go down as there is less demand. Even those pursuing slightly shit degrees will find the ROI is better as a result.

This is literally what's gonna happen. Then the white trash is going to blame Asians or some shit

Exactly. I guess I wasn't really making a point, but pointing out that killing all the boomers in hopes that the younger Americans can get more jobs and higher pay is kind of foolish.

Haha yeah we need to enslave a whOle generation because that's good for business haha

Meanwhile let's bail out failing American manufacturing because something moon landing something 1488

You faggots

Haha yeah we need to enslave a whOle generation because that's good for business haha

Meanwhile let's bail out failing American manufacturing because something moon landing something 1488

You faggot

Your debt still won't disappear if you move.

>be America
>de-regulate university sector
>allow high fee paying foreign students
>choose to make universities a business rather than a service provider
>create a narrow market
>act surprise when it becomes predatory

typical

First off, that's the type of thinking that led to participation ribbons.

Secondly, just a friendly reminder to everyone that Anderson Cooper is a Vanderbilt.

>so your 43 and have no experience?
>I have been wating for the Boomers to retire Sir

remind people that liberal arts degrees wont help you get a job, and stop fucking milking STEM major's tuition money with stupid bullshit.

It's actually pretty easy:

-Allow for bankruptcy after a certain number of years (5 to 7)

-Claw back bankrupted debt from the universities that received the loan dollars in the form of tuition, along with the Baby Boomer administrators who got rich by peddling worthless degrees.

Everybody wins, the educational bubble pops, and we get the money back from the people/institutions who actually have it.

wtf, why didnt my picture upload?

Gibe jobes with security

The issue is moreso jobs that want ridiculous qualifications for no reason. A college degree is seen as necessary now and has become so diluted that it is essentially a necessity in the eyes of mainstream society. So you have something that is perceived as a necessity, but the catch is that it is prohibitively expensive. Many people speculate that this is a result of the government interfering and thus driving up prices, but the fact is the high cost necessitates the use of a student loan to fund the operation. In my opinion, the issue really boils down to the fact that we expect people to take on debt to get a credential that we require for most of the decent jobs in this country. Something has to give. Whether this is a reduction of degrees that don't provide a good background for actual valid industries, or making public education more affordable like europe, or somehow cajoling the private sector into being more reasonable about what is needed to get a job. This is not simply an issue of muh sjw degrees, it is the result of a shitty system to get the background needed to participate anywhere above the floor of the labor market.

For those with huge loans, have them default on them. Absolve all serious loans but include credit score penalties.


Expand community colleges. They are cheap as fuck and great for preparing to transfer to your major of choice. You get to finish all your GEs and take smaller classes which in turn allow you to get better instruction from your professors. That way you dont waste thousands of dollars in your first two years of college not knowing what the fuck you're doing.

More like
>College costs 10k for a degree
>That's too much! Help me big guv
>Federal Loans = infinite money
>More people go to school, colleges drive up prices
>Federal loans go up to match
>Colleges now have surplus and create bullshit degrees so more people dump more fed money into it

>samefagging this hard

If you didnt want to be a slave then you shouldnt have put on the shackles. If you didnt have the finances to go to a university than you shouldnt have gone. Period. You only have yourself to blame

Simple. Teach children that post secondary education is to be treated as an investment in the future; and to pick in demand fields.
Not a privilege of the middle and upper classes.

I have bad news for you. Operating a power plant only requires a GED and a good letter from your parole officer. Becoming the POTUS doesn't even require that much. You were lied to.

>For those current
Either lock interest rates below inflation, allow default, or have a jubilee clause after so many years of repayment.

>For the future
Allow default and don't subsidize lending.

The problem is systemic, not individual. You have to treat it systemically, since the bubble is at $1.4 trillion and rising.

Whether or not an individual fucked up (and they probably did) is irrelevant to the systemic nature of the issue.

Also, it's pretty clear by now that student loan debt suppresses the white/educated birth rate, which is an absolutely retarded policy outcome that we need to throw into reverse.

Labor camps to pay off debts.

They can work on your wall with Mexico.