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[–]magnora7[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (4 children)

This too, but I still think it's reasonable to help out those who were scammed previously

[–]madcow-5 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (3 children)

But what about the people who paid for it?

My parents sank over $100k into my college, the expectation being that you pay for your kids to go to college. Do they get that back if my schoolmates don’t have to pay their loans?

[–]magnora7[S] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (2 children)

I'd be in the same position, but I still think it's a good thing to help people out of debt slavery if we want to improve society and reduce the power of billionaires. Many were tricked in to going to college that ended up not helping their job opportunities at all and now they are trapped. Maybe 1/2 forgiveness would be a good compromise.

[–]madcow-5 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

I think the right course of action is to crack down on colleges that charge exorbitant prices, especially if they have any ties whatsoever to companies giving the loans, and stop subsidizing the loans.

This forces the system to change, without giving a massive f you to people who did the right thing and paid their way.

[–]magnora7[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

I agree with that, the inflation of college costs is insane. But at the same time it just reflects the supply-demand of the student loans being given out. If they'll give out $100k loans to go to college, then suddenly college is $100k.

I think the best thing to do long-term would be to shut down the predatory student loan industry, that would naturally result in the cost of college going down.