patrick.net

Wife and I paid off our loans, and now we'll be paying of someone else's through taxes, fucking scam fuck dems.

While screwing California taxpayers.

Bail out for leftist colleges by using dumb kids as proxy.

And just like grants and everything else the government gives to "make it affordable" this will be baked into future tuition increases expecting future bailouts.

This drives me crazy. I have dutifly paid my loans since I graduated. So has my wife (who's loans are paid off.) If you're going to give me $10,000 then why not her? I don't need the help, but if the feds deposit $10,000 in my account who am I to complain?

Besides, it's not like I'll see the money. They probably will pay the lenders directly. All this really is is a backdoor bailout for banks. (Who get paid), and an excuse for colleges to charge ever increasing tuition for degree that have questionable market value.

Here's the irony. My wife was eligible to have her loans paid off a while back due to her decade of service in the public sector but 1) by that point her balance was minimal, since she was on a standard repayment schedule and 2) the process of applying was so messed up (no one knew exactly what paperwork to file or to whom or if it was the "right type" of loan) it was easier just to pay off the balance and wash our hands of it. Time is money and it would have cost more to figure it all out.

As for me, I'm on the slow and low plan. [I consolidated back in '06 when rates were low and am locked in at 2% so there's no incentive to pay it early.] I came out with roughly 100k debt in a combination of state and federal loans, but also a bachelors in engineering from a reputable school. It was an investment that has paid off.

Nowadays the landscape has changed. What used to be $30,000/year is now $70,000/year. Salaries haven't risen accordingly. It takes far longer to recoup that outlay. And if part of it is the "experience" well covid has screwed that all up too.

Up my way the local community College offers an associates in engineering. This was not an option back in my day, but its a cheaper way to go. If my kids want to pursue a STEM career I'd encourage them to go that route. Low cost community College 1st to get the prerequisites out of the way.

I've also told my kids they are on their own when it comes to paying for it. I took my lumps and made my payments, they can do the same. It builds character.

Why should we taxpayers be on the hook for students collwctice inability to make sound monetary decisions?

RC2006 says

And just like grants and everything else the government gives to "make it affordable" this will be baked into future tuition increases expecting future bailouts.

Exactly!

The wrong thing to do is to increase demand by supplying money to spend on tuition. That just makes tuition go up.

The right thing to do is to increase supply by building more schools and hiring teachers. That would make tuition go down.

Then again, I'm not sure everyone should be going to college anyway, so I wouldn't actually want to pay tax dollars to build more schools and hire more teachers. The German system seems much better to me, with trade schools for most, and university only if they really want it or have great aptitude.

Patrick says

I'm not sure everyone should be going to college anyway

I am. Many people would do much better learning a trade.

I am afraid many college students don't care about learning. They only want a credential that they think will be a golden ticket to success and riches. Meanwhile in the real world skill and experience blow your degree out of the water.

A gender studies degree and $120,000 dollars in debt is not necessary to become a barista or a bartender.

The problem with a degree is that you can only get so far without one in Corp America. Doesn’t matter what it is usually but you are discriminated against if you do not have one.

So many of their plans are so incredibly divisive.
In this case people who maybe just got done paying off loans through great sacrifice, like my daughter, can feel like suckers.
Immigrants that struggled for years to attain legal status can watch millions get amnesty.
Impoverished folks of all races can watch The Sanctified Minority get “reparations”.

The Democrat Platform motto: RESENTMENT FOR EVERYONE

Ok so I paid off my loans of about $50k and wife’s loans of a little less than that. That’s a lot of debt I’ve paid, and you’d think I would be hostile to this plan.
But you see, debt is slavery and I think we’d all be better off with less slavery. There are a ton of peeps out there with way too much student loan debt that was required by the institution that the elites set up as a requirement for entry to the work force. Most of the “education” they got wasn’t job relevant and only served to indoctrinate them in leftist ideologies.
I’m ok with canceling a good chunk of this debt. If Biden can come up with trillions to pay off his buddies and give small checks to Americans during this crisis that HE fucking created, he can pay off student loan debt as well.

Money is all make believe anyway. We all pretend it’s real, but it’s still imaginary. Ownership is also imaginary, built on a shared consensus that it exists because to believe otherwise leads to loss of productivity.

We will be paying higher taxes anyway. If they can get away with it, they’ll tax the productive people more. Is what it is.
And they will still radically overspend and borrow this country into a giant hole.

Looking at the burn rate acceleration, it seems obvious that the elites who really govern the USA have decided to run the currency into the ground while dishing out all the wealth to themselves before it crashes.

When that crash comes, it will be worldwide. Money will be a serious problem.
And that’s when the globalists will step in with a one-world currency. Sure they won’t get all countries to sign on, but if they get the largest ones with the strongest economies they’ll have 90% of all economic activity and secure a radically stable form of currency for an Age. All other currencies will be worth much less or just abolished.

HunterTits says

@Patrick - troll alert. Who were the two who downvoted this post?

Doesn't pass the smell test to me. Are they new accounts?

Doesn't really matter. Haters gonna hate.

When they can't counter your argument they attack your person. More likely they were downvoting the topic.

It is pretty heinous.

Shaman says

Money is all make believe anyway

I agree with much of what you said but it's still not fair to the frugal who payed off their loans and people who never went to college.

It is hard to spend money lately. The pent up demand for dining, traveling, and shopping is going to be economically explosive when the Wuhan is over. I hope there are still some small businesses to take advantage of it.

keeprubbersidedown says

The problem with a degree is that you can only get so far without one in Corp America. Doesn’t matter what it is usually but you are discriminated against if you do not have one.

The answer to that is to slowly attend community colleges, many which now offer 4 year degrees. While doing that, build up real and rare skills.

Fuck, just become a locksmith. That's what I'm pushing my son into. Test out of HS at 16, two years of community college and a PT job, apprentice to a locksmith at 18. Work a few years and then make a deal to move to the next county to be non-competitive and have a mentor. Or, buy out the locksmith with a 5-year loan. Locksmiths and Chinese Restuarant people do that shit all the time. They build up a client base and sell it off to an employee.

$50 just to show up and say hello.

HunterTits says

Who were the two who downvoted this post?

Doesn't pass the smell test to me. Are they new accounts?

No, not new users.

.NoCoupForYou says

Fuck, just become a locksmith.

I have been recommending the Locksmith idea to a couple of friends with sons who are floundering around!
It is much better advice than "be an electrician" or "apprentice to a plumber" for kids who just don't want to go to school.
Can't be outsourced, and easy to move into security system installation, alarms, window bars, safes, as the Leftists destroy community safety by emptying jails and taking away our PPE. (Great skillset in case they totally destroy civil society.)
As you say, easy to establish as sole proprietor. Retire into a van-based mobile service....
I think there are a couple of Locksmith schools left if that fast-tracks the career arc, there used to be one in S.F
Fuck, I would do it if I was younger. It is the kind of job that takes you all over town, into all kinds of houses which can be very fruitful for opportunistic buyers of old cars or derelict properties like me.

Joe and the Ho, California cancer super spreaders.

Shaman says

I’m ok with canceling a good chunk of this debt.

No way. If you are worried about "Debt Slavery," then lets not have such loans available in the first place. Easy credit just raises the tuition cost for everyone, including the responsible savers who must compete with the irresponsible borrowers.

Tuition and administrative bloat could never have risen to the levels it has without student loans.
Lenders would never have underwritten loans for a bunch of undergrads drifting into worthless majors without Government backing for these loans.
Bailing out the muppets without addressing these larger issues is ridiculous.

Not that long time ago, students where able to earn money for tuition by doing summer job. Borrowing money for college costs was unpopular. Poor preferred go to trade schools except of very talented. MAGA.

keeprubbersidedown says

The problem with a degree is that you can only get so far without one in Corp America. Doesn’t matter what it is usually but you are discriminated against if you do not have one.

You can do pretty damn well as a programmer without a degree. I have one, but lots of people I work with do not.