30 Aug 2022 7:05 am
There are some reforms in this like paying no more than 5% of one’s disposable income to pay for one’s loan.Cannonpointer » 29 Aug 2022, 4:44 pm » wrote: ↑ Are those the only two options?
The pertinent questions regarding paying student debt are, first, HOW DID THIS HAPPEN? How is it remotely possible that it costs so much for an education - or getting one pays so little dividends - that the debt from that education is impossible to pay? And what are we going to DO, to avoid this embarrassment to our system of higher education in the future? How will we reform higher education so that this becomes a one-off, rather than a regular thing?
And please - be very careful advocating for universal higher education, because every nation that provides that has rigorous testing and rigorous admittance standards - annual boards, the failure of which ends one's matriculation and gives one a ticket to trade school. And those countries have zero affirmative action. So if you want the one, you have to lose the other. You ready for that? It would mean a lot fewer blacks and latinos and a lot more whites and asians in the better schools.
Just throwing cash at the problem is not an answer - it's a cop out; a bandaid; a sop. It is corporate welfare to the schools who SHOULD return the **** money, if it really was taken under fraud, as appears to be the case. I think another possible appropriate solution to the problem is a class action lawsuit to get the fake universities to refund the cost of the fake degrees. Absent that solution, any bailout should be tied to reform. If the taxpayers are to be on the hook, then their servants owe them reassurance that this is not going to happen AGAIN.
So along with the question of WHETHER we should, we have to ask the question of why and how.