Ridiculous. One aspect of this is that "low income" people pay less for college. In other words, people who work are penalized for hard work and earning money.
Interest rates were jacked up on the more well to do students in exchange for paying for the low income and public service forgiveness in the future. The problem is that so many low income students are piling up so much debt that the system will collapse if they forgive what they promised. The whole student lending scheme is a Ponzi Scheme. The system cannot work if their on no control costs on the college with unlimited federal subsidies and no strings lending. The only people who are benefiting are the colleges and full time tenured professors and administrators.
My wife just got her educational doctorate. We're 6 figures in debt after the last ten grand from her masters was rolled into it. We both work full time at decent jobs, not a chance her loan would (or should) be forgiven. She had a career path planned when we agreed on the doctorate and has since put it into motion. It'll take a while but the degree will pay the loan and provide her with decades of decent pay.
Infuriates me to see how the gov teaches people to be irresponsible and dependent. I see the grand scheme and understand their nefarious reasons for doing it, just wish there was a way to bitch slap all the idiots and show them how they're being used!
Ridiculous. One aspect of this is that "low income" people pay less for college. In other words, people who work are penalized for hard work and earning money.
Interest rates were jacked up on the more well to do students in exchange for paying for the low income and public service forgiveness in the future. The problem is that so many low income students are piling up so much debt that the system will collapse if they forgive what they promised. The whole student lending scheme is a Ponzi Scheme. The system cannot work if their on no control costs on the college with unlimited federal subsidies and no strings lending. The only people who are benefiting are the colleges and full time tenured professors and administrators.
My wife just got her educational doctorate. We're 6 figures in debt after the last ten grand from her masters was rolled into it. We both work full time at decent jobs, not a chance her loan would (or should) be forgiven. She had a career path planned when we agreed on the doctorate and has since put it into motion. It'll take a while but the degree will pay the loan and provide her with decades of decent pay.
Infuriates me to see how the gov teaches people to be irresponsible and dependent. I see the grand scheme and understand their nefarious reasons for doing it, just wish there was a way to bitch slap all the idiots and show them how they're being used!