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?

Interest free loans still is a burden on society

Education loan sharks? Its a business. You have the power to accept or forgo the contract. In fact you can take out a new contract if you don't like the terms of the old contract

What your really advocating for is trying to buy support from the populace. If your going to do that then the support should be bought universally not to help the overly priveldged college grad

You say they are doubling their money every ten years. That's not a good investment and it doesn't account for people delinquencies in payments

🆙 | **Putz leveled up!**

You can get a better rate of return on the stock market, without the overhead of running a business

The average student loan debt is 37k, that's not a lot of money. Individually its not a crisis, the crisis is in how many people are taking that debt

Issue is that education isn't an asset, you can't sell it on some secondary market for a return. You can only pay off education through labor. And if labor wages are depressed because there's triple the amount of people in the workforce the time scales to pay off student loans will be longer than a lot of real estate. That is because education only depreciates. It's literally a shitty car as far as going in debt for it.
Then you have rising healthcare costs due to similar reasons (anti-competitive practices more than anything else). What this means is that discretionary spending is falling through the floor which is why all these "crowd-sharing apps" are popping up
When you don't have people blowing money and stupid shit instead of say education and healthcare it causes the economy to lag as the major generation of wealth is in education and health care which are very scalable (easier for 1 person to teach 200 people than it is for 1 person to supply 200 beers)
This doesn't even get into addressing how any of this can be fixed, just that someone going into 150k debt for education is society's problem already, even not accounting for that debt being funded by tax payers

The answer is higher interest rates. Higher interest rates discourage borrowing and increase saving

Stop trading your future for today

The real problem is that the department of educations sets stupid standards for universities. G

Schools have to put alot of money into these public works that it means higher tuition

They only have to do it if they get government funding

Renounce the funding and you can run it like a business

Same for elementary education in the states public school system s

To be fair going to college isn't a must

You have so many people getting degrees for a job that will pay the same as a minimal wage job

But you go 50k in debt for it

Mike rowe has been trying to get that point across forever

I think many people go to school to avoid growing up

I think we should stop telling people to go after an unrealistic dream job and go for a practical job

If you like something make it a hobbie

I retired at 35, anyone will be hard pressed to convience me that overall these issues are not the result of bad decision making by the individual

I also think that it is a problem with our culture telling people 'college or bust'

You got trade schools

or even the military

***~T R A D E S A N D T E C H~***

we certainly need to see improvements in public education, if your signing up for student loans, and you don't understand how loan repayment works that is a failure of public education. Granted i still contend that parents on the responsibility to fill in the gaps in public education.

If you fail to understand how loan repayment works and your signing a contract for a student loan, there is either a gap in your education (which is a good reason to require parents cosign for student loans), you are knowingly making an investment in your future (and your prepared to take the good or bad results of that investment), or your not mature enough to weight the opportunities and costs of that investment (a case for raising the age of emancipation)