Is Student Loan Debt Forgiveness a Good Idea?

Tue, 03/19/2013 - 3:00pm | posted by Jason Pye

5790 reads
Tagged: college education government schools student debt student loans

NO ITS NOT OK TO FORGIVE STUDENT LOANS. THERE WAS A TIME WHEN LOANS AND GRANTS WERE NOT AVAIL IF U DIDNT HAVE A WAY TO PAY FOR COLLEGE YOU DIDNT GO. I AM GLAD THAT NOW YOU CAN GET THE FINAINCES TO GO TO COLLEGE AND GET A DEGREE TO BE ABLE TO GET PAID MORE SO YOU CAN AFFORD TO PAY IT BACK. IF YOU GET LOANS FOR COLLEGE PAY EM BACK. THE PEOPLE THAT HAVE A LITTLE MORE MONEY SEND THERE CHILDREN TO SCHOOL AND HAVE TO PAY A HEFTY SUM TO DO SO. I WOULD LIKE TO SEE EVERYONE GET A HIGHER EDU BUT THAT MEANS WE ALL HAVE TO PAY FOR IT IN WAY OF MORE TAXES. UNTIL EVERYONE PAYS A HIGHER WAGE (PA SERVICE WAGE IS 2.87 AN HOUR HAS TO GO AS SOME PEOPLE GO OUT AND DONT TIP THERE SERVERS THE SERVERS CANT EVEN GET STUDENT LOANS BECAUSE THEY DONT MAKE ENOUGH.)MIN WAGE FEDERAL WAGE SHOULD BE 20.00 PR HR

JIM K on Fri, 03/22/2013 - 3:46pm.

I agree that if you want to go to school for higher education you should pay your way as the rest of us did - and we the onset of all these student loans suddenly they don’t have to pay them back. Then it is on the taxpayer and that is not fair. This is not a giveaway program - they should have to pay back the loans and forgiveness is not an option. This is a horrible precedent to set. Pay your bills

Anonymous on Thu, 03/28/2013 - 12:42am.

a 20$ an hour minimum wage would only mean more pain. do some research on raising the minimum wage.what we realy need is a stable curency and with out being able to audit the federal reserve we will never get it. raising the minimum is only masking the symptom and ignoring the cause.

jason on Mon, 04/01/2013 - 5:36pm.

You’re an idiot for saying: “MIN WAGE FEDERAL WAGE SHOULD BE 20.00 PR HR.”

When you adjust the minimum wage, every other cost goes up in proportion. Raising the minimum wage has historically done nothing to solve any financial woes.

Anonymous on Mon, 04/08/2013 - 4:19pm.

First off: Turn off the caps lock. Capitalization is to be used as an accent, not a font choice. You do yourself a disfavor by abusing it, as many will immediately discredit your comments seeing that.

Second: I believe that the core issue is education inflation. In the old days, only some people in the professional world had college degrees, and it was easy to find employment in manufacturing and industry with just a high school diploma. Now those manufacturing jobs are gone overseas, and entry level positions across the board require secondary education. Computer Programmer? Bachelors. Electrician? Associates. Engineer? Masters. Physicist? Doctorate. We even see with the current young generation a trend where they cannot get jobs, so they return to college to get higher degrees to make them more competitive. Soon not even a masters degree will stand out.

The other (much more disturbing) trend we see, is that of private colleges who lack proper accreditation and whose financial aid offices are effectively run by loan sharks. They don’t fail students, they just keep them in their programs longer, giving them more and more loans at outrageous rates. When students do finally graduate they find that their degree is worthless and that they have an enormous burden of debt.

I am in favor of private, not state or federal, loans being forgivable via bankruptcy. This prevents the federal grant and loan programs from becoming untenable, while putting an end to these predatory institutions.

Joe P on Mon, 04/08/2013 - 10:20pm.

Respectfully, while America is being sent into Bankruptsy—-American Resources pay for Foreigners who come to the US for Training/College___American Resources go (many many Billions) to 140 Countries___This Government spends Money on themselves like The King and Kings Court.———- How about it? Forgive the Educational Loans for our OWN People, Please.

Chuck M. on Sat, 04/13/2013 - 12:02pm.

NO, student loan forgiveness is NOT all right, for a couple of reasons at least. First, that’s no way to send a young person into their life, believing that someone else is going to cover for them, because that’s just what it will be: our taxes paying their loan. The kids need to start learning responsibility right off the bat. Secondly, our nation, especially now with the economy circling the drain, does NOT need to be taking so much money from our pockets and “redistributing” it by forgiving debt. Third, I PAID EVERY DIME OF MY STUDENT LOANS, EVEN WHEN I WAS MAKING 10 CENTS OVER MINIMUM WAGE. THEY CAN PAY THEIRS, TOO. EVEN IF IT’S $10 A MONTH.

Kris in Oshkosh on Thu, 03/28/2013 - 1:06am.

While having the burden of debt lifted would be nice, it have no value and would not truly be appreciated.
You agreed to incur the debt and agreed to repay it.
Keeping one’s word and agreement is the principal here.
While it has not been easy and I have not gotten the career I studied for I still agreed and there was a creditor that believed in me to keep my word. I still received an education that I would have not otherwise have had the opportunity I am thankful for that.
No, I don’t believe that debt forgiveness for the human experience would increase anything other than extra excersize of the mind of how to receive something for nothing.
Though keep in mind their are still circumstances that would and should be allotted this reprieve. Disabling illness or injury should be considered.
But Debt Forgiveness across the board in the sake of just balancing the books, only if there is no other way. ie. cost of servicing the loans out way the moneys received.

Anonymous on Mon, 04/01/2013 - 11:24am.

I agree!

Anonymous on Wed, 04/03/2013 - 7:52am.

What’s next? You don’t have to make your house payment, or your car payment. This is not even suitable for discussion.

Anonymous on Fri, 04/05/2013 - 4:44pm.