Soaring Student Debt Prompts Calls for Relief

Re:Soaring Student Debt Prompts Calls for Relief by coldpie on Tuesday September 13, 2016 @11:52AM (#12489392)

I understand the sentiment, but "I had to do <thing that sucks>, therefore everybody has to do <thing that sucks>" isn't a great argument either, especially when it leads to a stagnant economy due to nearly an entire generation with no funds to spend. I'm not advocating for any particular solution, but don't react so quickly that you cut off your nose to spite your face.

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Re:Soaring Student Debt Prompts Calls for Relief by yummyfajitas on Tuesday September 13, 2016 @03:35PM (#12491488)

I'm confused. We will transfer wealth from people without degrees to (typically much wealthier) people with degrees. How does this prevent economic stagnation? Could you explain the mechanics in detail?

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Re:Soaring Student Debt Prompts Calls for Relief by morgante on Tuesday September 13, 2016 @05:17PM (#12492343)

The problem is that the rest of us have to pay for this forgiveness.

"I had to do <thing that sucks>, therefore everybody has to do <thing that sucks>" isn't a great argument, but "you had to do <think that sucks>, but I don't want to so I'm going to make you do <other thing that sucks> so I don't have to" is even worse. It's like forcing someone who just finally managed to rebuild their house after it burned down to share their house with another fire victim for free.

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Re:Soaring Student Debt Prompts Calls for Relief by sseagull on Tuesday September 13, 2016 @12:07PM (#12489564)

I came here to say something similar. Yes, you can be angry, but sometimes it's better (as an economy and as a country) to just let it go.

The selfish thinking that people shouldn't get anything for "free" (ie, shifting education burden from taxes to the student) and everyone should be accountable for every dollar is how we got here.

If I just finished paying off my student loans, and debt forgiveness happened, I would be annoyed and a bit jealous. But also happy that those who had their debt forgiven now have more money to do stuff and contribute to the economy. I would truly be happy for them. Why wouldn't I?

(Note: I don't believe debt forgiveness will ever happen)

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Re:Soaring Student Debt Prompts Calls for Relief by Mc_Big_G on Tuesday September 13, 2016 @11:58AM (#12489469)

It's a great argument, just not phrased correctly. It's more like "I had to work hard and make difficult decisions to succeed which included choosing a field that is guaranteed to pay and being obligated to pay back the money I borrowed. Therefore, everybody should have to do the same. If not, then I at least want to be treated fairly."

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Re:Soaring Student Debt Prompts Calls for Relief by coldpie on Tuesday September 13, 2016 @01:32PM (#12490461)

> Therefore, everybody should have to do the same.

Why, though? Depending on how the idea of debt relief shakes out, this might be one of those "sometimes life is unfair" moments that you just have to accept and move on as part of living in a society. The alternative is a massive contraction in buying power, which could certainly directly impact your livelihood. Is the spite worth that?

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Re:Soaring Student Debt Prompts Calls for Relief by Mc_Big_G on Tuesday September 13, 2016 @04:16PM (#12491835)

I believe there is a solution in the middle. It's not all or nothing. Also, your "sometimes life is unfair" costs me $100k+. Seems criminally unfair.

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