I understand

I want at least 10 replies when I come back

I remember my first disagreement too

<:lul:502589623235772417>

Oh shit I gotta supply you with 10 replies now

Please don't, @Just for youtube [NB1], it's blowing up phones everywhere for no benefit.

Well that's up to you and your notification settings

^ change the notification settings to only @ mentions

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@Just for youtube [NB1]
Not just for me, bro.

By default the setting should be for only @ mentions

Interest on student loans should be frozen after several years. Change my mind.

People shouldn't be taking on so much debt for their education that they need their interest frozen

That's a totally different but related can of worms. I agree with you on that, this whole problem was created by the govt guaranteeing student loans, but the problem still needs a solution right now.

And we can't just forgive student loans, but if we don't do something to break people out of perpetual interest payments, then we're going to push people to socialism.

Student loans shouldn't be owned or managed by the state. As such the interest is a product of your negotiation with the loan provider and not subject to a "interest freeze" unless its a part of the contract

Student loans are a contract and should be treated as such

The problem with student loans is they have no "equity" which by their nature make them high risk and as such should command a higher interest rate. In order to keep the rate low they have removed them from bankruptcy protections (otherwise everyone would just get the degree and the claim bankruptcy)

Seems everyone wants their cake and to eat it to, they want 4-6 years of low productivity, a peice of paper that helps them with future employment, zero risk on their investment, and zero costs

Btw the military still funds education. Loose 30 pounds, figure out how to do a pushup, and you can get job training and education in one package while being productive

Businesses should be able to pay people less if they pay people's student loans

Many business do have loan forgiveness programs as do states. Just another form of compensation

Another reason whe education shouldn't be free, it would remove market forces from modifying career choices. So people pick jobs based on passion but many people follow the money

Still doesn't solve the problem of the current student loan debt crisis.

I think more and more people will stop going to college, but that's just because the societal expectation is shifting (partly due to the crisis)

Like I get that people are dumb for going to college and racking up debt, but it kind of has been the societal norm, and if something isn't done, they're just going to vote socialist which will fuck up everybodies lives.

Two wrongs dont make a right, forcing society to pay for college is wrong

I understand not wanting them to get pushed towards socialism for their shitty choices. We dont want socialists.

But it's their shitty choices, they need to deal with them, it's not my fault they wanted to get a $150,000 loan to go to some shitty college and get a degree that doesn't matter. They need to figure out how to deal with it on their own. If they didn't want to be paying off $150k for the rest of their life they probably shouldn't have took the loan?

The government needs to stop loaning money

Also keep in mind that student loans isn't just education. Its your entire cost of living while attending school, room, board, transportation, computers, etc

Some will do the right thing and live very conservatively to cut down on the debt, but many don't. They borrow from the future to have a better life today

My wife got her doctorate without any school loans. Our neighbor who was in her graduating class finished with 200k of debt. The school didn't make him 200k in debt, lifestyle choices did. And those choices should not be rewarded

if they lock his interest or forgive his loan or whatever idea they come up with. My wife and my sacrifices will be in vain. In what world is that fair. What behaviours do we want to encourage?

The problem is that these people literally are unable to make a dent in their loans.

I'm not advocating paying for their student loans, but if we freeze interest after 10 years of graduation then they at least have a chance, and the lending agency's still will make significant profit off of the students.

It wouldn't even effect government spending, the only people it would hurt is the predetory nature of education loan sharks.

Ideally I would like the govt so stop guaranteeing student loans at the same time so that the cost of education can normalize.

A lot of millennials will be stuck paying interest for the rest of their lives and never be able to pay off their loans otherwise, and before you know it, Bernie Sanders is president.

And 18-19 year olds are not old enough to fully comprehend the economic choices of their actions. Most normies grow up being indoctrinated to go to college, so it's not so black and white to just say "it was their choice so they should deal with the consequences."

I mean sure it might work/help but only for the loans that people have already taken

You dont want to incentivise more of it

Even if it was for new loans I wouldn't have a problem with it.

The APR on student loans are massive. Within ten years most people will have spent more than 100% interest on their loan. More than enough for the credit agencies to turn a profit, and people will get loans regardless of the interest freeze until our societal opinion of higher education shifts. (Which it already is)

Fair enough

Why do you say they "literaly" can't make a dent in their loans. Dave ramsey guides people out of their mistakes all the time. Your saying the dave ramsey plan couldn't help them? They made mistakes, they can make the sacrfices to make amends

Why should society pay for their mistakes?