How Much Student Debt Should be Canceled?

[Krakan]

What makes the degree "worthless", exactly?

- - - Updated - - -



Sounds like something we can solve by democratizing the economy.

If it doesn't allow you to earn an income for one...

To be frank your attitude is why I think student loans should be backed by private fincial institutions rather then the tax payer.

Going into massive debt for the vague notion that all education has value is so destructively moronic its difficult for me to express in words the absurdity of it.

If you want to just blindly study things that's fine hell in some ways it's even admirable but do it after you have a means of supporting yourself in life not before. Worry about filling the pantry before fulfilling your curiosity.

[LilSaihah]

I'm curious if there are any good statistics on how student debt impacts the spending habits of people in these groups. I can't imagine it would be good for the American economy for a large portion of the consumer base to be saddled with so much debt.

[Specialka]

If it doesn't allow you to earn an income for one...

To be frank your attitude is why I think student loans should be backed by private fincial institutions rather then the tax payer.

Going into massive debt for the vague notion that all education has value is so destructively moronic its difficult for me to express in words the absurdity of it.

If you want to just blindly study things that's fine hell in some ways it's even admirable but do it after you have a means of supporting yourself in life not before. Worry about filling the pantry before fulfilling your curiosity.

I live in a country where most education is free so I do understand your thinking but can't accept it because it does not work like that in my country. Your reasoning yields result like in the US where ppl starts life buried under a giant debt. Way to give them hope about life.

[kamuimac]

I live in a country where most education is free so I do understand your thinking but can't accept it because it does not work like that in my country. Your reasoning yields result like in the US where ppl starts life buried under a giant debt. Way to give them hope about life.

no education is compeltly free anywhere

in your (and mine country) education is free for students but its paid by whole working community in form of taxes.

US has lower tax rates - and in exchange they pay for their education .

but i dare you - suggest to average american that he should pay more taxes because it would be good for their society - you would be instantly called a communist and enemy of lnad of brave and free.

- - - Updated - - -

If it doesn't allow you to earn an income for one...

To be frank your attitude is why I think student loans should be backed by private fincial institutions rather then the tax payer.

Going into massive debt for the vague notion that all education has value is so destructively moronic its difficult for me to express in words the absurdity of it.

If you want to just blindly study things that's fine hell in some ways it's even admirable but do it after you have a means of supporting yourself in life not before. Worry about filling the pantry before fulfilling your curiosity.

but all education has value.

it very often people froblem that they cant capitalize on that value.

its the same as with enterpreteneurship - some people can literaly sell "shit in a can" (https://en.wikipedia.org/wiki/Artist%27s_Shit) for big $$$$$ - and some will never succed.

again you are perciving Universities as a vocational schools. they were never meant as such places.

- - - Updated - - -

How much is a stand-alone liberal arts degree worth these days?
I admit as much as I despise a value statistics or analysis perspective, there are very few if any companies that really see little value of a good poem versus those directly related to STEM fields.

- - - Updated - - -

Explain how that will work in today's world.

depends on what person will do after finishing Uni .

i mean you have programmers who earn like 2000$ even though they finish University because they suck at their jobs (even though IT diplomas are supposed to guarantee good jobs) and you have people who major in like music composing / gender studie who make like 10 k a month because they are good at their job and had idea on life.

[Specialka]

no education is compeltly free anywhere

in your (and mine country) education is free for students but its paid by whole working community in form of taxes.

US has lower tax rates - and in exchange they pay for their education .

but i dare you - suggest to average american that he should pay more taxes because it would be good for their society - you would be instantly called a communist and enemy of lnad of brave and free.

- - - Updated - - -



but all education has value.

it very often people froblem that they cant capitalize on that value.

its the same as with enterpreteneurship - some people can literaly sell "shit in a can" (https://en.wikipedia.org/wiki/Artist%27s_Shit) for big $$$$$ - and some will never succed.

again you are perciving Universities as a vocational schools. they were never meant as such places.

- - - Updated - - -



depends on what person will do after finishing Uni .

i mean you have programmers who earn like 2000$ even though they finish University because they suck at their jobs (even though IT diplomas are supposed to guarantee good jobs) and you have people who major in like music composing / gender studie who make like 10 k a month because they are good at their job and had idea on life.

I do agree that it is taxes that pays for all that (and many other things) and I am happy to pay my taxes because it does help the community. But I prefer to see it as "free" even if it is not really true.

Many of the US issues are based on their mentality and it is mostly through education that you can change mentalities. Since said education is behind huge loans, we can see how it will not soon change.

[Shadowferal]

I'm curious if there are any good statistics on how student debt impacts the spending habits of people in these groups. I can't imagine it would be good for the American economy for a large portion of the consumer base to be saddled with so much debt.

Holy shit...this is the US. Capitalism is our god. If your going to uni then you already aren't spending much money at all. The full time student isn't adding much at all to the economy beyond visits to cheap fast food places, earning money in part-time jobs (most are min wage), and/or what the parents can give.

depends on what person will do after finishing Uni . .

That doesn't answer the question beyond wishful thinking..

[Gestopft]

Holy shit...this is the US. Capitalism is our god. If your going to uni then you already aren't spending much money at all. The full time student isn't adding much at all to the economy beyond visits to cheap fast food places, earning money in part-time jobs (most are min wage), and/or what the parents can give. That doesn't answer the question beyond wishful thinking..

I think the curiosity was more about the spending habits of people who may be out of college but have loads of student debt. I.E- how long is it pushing back homeownership, family, etc. What economic sacrifices are people having to make to pay off their student debt, and how would it affect the economy if the debt was canceled?

[Zython]

If it doesn't allow you to earn an income for one...

To be frank your attitude is why I think student loans should be backed by private fincial institutions rather then the tax payer.

Going into massive debt for the vague notion that all education has value is so destructively moronic its difficult for me to express in words the absurdity of it.

If you want to just blindly study things that's fine hell in some ways it's even admirable but do it after you have a means of supporting yourself in life not before. Worry about filling the pantry before fulfilling your curiosity.

Ah, yes. Clearly what we need is more usury to punish kids for not helping one of four centibillionaires make the world a worse place to live.

- - - Updated - - -

How much is a stand-alone liberal arts degree worth these days?
I admit as much as I despise a value statistics or analysis perspective, there are very few if any companies that really see little value of a good poem versus those directly related to STEM fields.

Yes, Shadow. Everyone should work for tech monopolies that make self-driving cars that run over black people. I see absolutely no flaw in this plan.

Explain how that will work in today's world.

Already did earlier in the thread.

- - - Updated - - -

Holy shit...this is the US. Capitalism is our god. If your going to uni then you already aren't spending much money at all. The full time student isn't adding much at all to the economy beyond visits to cheap fast food places, earning money in part-time jobs (most are min wage), and/or what the parents can give. That doesn't answer the question beyond wishful thinking..

Good thing student debt disappears after you leave college, or this would be dumb as hell.

[Shadowferal]

Yes, Shadow. Everyone should work for tech monopolies that make self-driving cars that run over black people. I see absolutely no flaw in this plan.

And how does this refer to paying for a liberal arts degree..? I'm sure your answer will be blindingly brilliant.

Good thing student debt disappears after you leave college, or this would be dumb as hell.

In your world perhaps (though that suggests an amazing ignorance. Because it's still getting paid for.)
But in our country it doesn't. Otherwise why does this thread exist to begin with?

[Elegiac]

And how does this refer to paying for a liberal arts degree..? I'm sure your answer will be blindingly brilliant.

Cause y’all repeat STEM like it’s MAGA in the same way that boomers tell everyone in financial trouble to become a plumber.

It isn’t a serious answer and shows a very superficial understanding of the problem mostly derived from shit y’all regurgitate from social media.

Like repeating the known myth that we have a surfeit of “useless” degrees without bothering actually prove it’s the case beyond “well that’s all you hear about these days”. Capitalist shills stay in school challenge.

[LilSaihah]

I think the curiosity was more about the spending habits of people who may be out of college but have loads of student debt. I.E- how long is it pushing back homeownership, family, etc. What economic sacrifices are people having to make to pay off their student debt, and how would it affect the economy if the debt was canceled?

This is more or less what I mean, yeah. I'm particularly concerned about the economic impacts of starting families later.

[Zython]

Cause y’all repeat STEM like it’s MAGA in the same way that boomers tell everyone in financial trouble to become a plumber.

It isn’t a serious answer and shows a very superficial understanding of the problem mostly derived from shit y’all regurgitate from social media.

Like repeating the known myth that we have a surfeit of “useless” degrees without bothering actually prove it’s the case beyond “well that’s all you hear about these days”. Capitalist shills stay in school challenge.

STEM fetishization is mostly from the investor class who know that tech shit makes money, but have no idea how it's made or works. It's why the keep talking about "the cloud" or "blockchain" without knowing what either of those things mean.

- - - Updated - - -

And how does this refer to paying for a liberal arts degree..? I'm sure your answer will be blindingly brilliant.

Well, let's look at tech. Who do you need to tell you that apps should be accessible to the vision or hearing impaired? Who do you need to help control for biases when programming AI or machine learning? Because STEM majors aren't usually good at those things.

In your world perhaps (though that suggests an amazing ignorance. Because it's still getting paid for.)
But in our country it doesn't. Otherwise why does this thread exist to begin with?

You tell me. You were the one making that claim. Not me.

Holy shit...this is the US. Capitalism is our god. If your going to uni then you already aren't spending much money at all. The full time student isn't adding much at all to the economy beyond visits to cheap fast food places, earning money in part-time jobs (most are min wage), and/or what the parents can give. That doesn't answer the question beyond wishful thinking..

[kamuimac]

This is more or less what I mean, yeah. I'm particularly concerned about the economic impacts of starting families later.

the reason why people are starting families later is not because of student debt.

its because people no longer need either SO or 10 kids to survive in the world when they are old.

its natural process in whole west - as having kids is no longer primary goal for people - they find fullfilment in different areas of life.

which is good for our planet - there is already to much of people.

[LilSaihah]

the reason why people are starting families later is not because of student debt.

its because people no longer need either SO or 10 kids to survive in the world when they are old.

Later and lower birthrate is a multivariate problem, you can't really pin it on better social welfare.

which is good for our planet - there is already to much of people.

But really bad for the economy. I'm wondering when the penny's going to drop in China, or more fairly how far it's going to fall.

[kamuimac]

Later and lower birthrate is a multivariate problem, you can't really pin it on better social welfare.



But really bad for the economy. I'm wondering when the penny's going to drop in China, or more fairly how far it's going to fall.

its not really a problem . it would be a problem with 1 thing - with pension system - but this will solve itself with automatization and robotization by default.