Official Student Debt Cancellation Watch Thread

[CrimsonTider]

Depends on what they're earning though.
Someone who's a physician, middle management at a large corporation, high level IC at a large corporation, SWE in Tech etc.
200k is definitely possible in 3 years but that is depending on the job title and obviously living expenses.

Example:

180K Compensation, Middle Management at a large corp. , living expenses for the total year being $30K, $30k to retirement accounts, $70K towards future
kids education ($35k per 529) in 3 years is very doable, especially when the accounts have no contribution limits.

We have some physicians, high level managers and SWE's on here I think, so there are most likely some brehs at the $200k a year mark or well past that.

Really?

 

[FAH1223]

Great post and this was something I was thinking about earlier. Cause its going to be a mess come January 1st 2023.

 

[Originalman]

In a perfect world this would happen. But most likely that ain't gonna happen no time soon. Schools will swear they are broke and need to raise tuition even though they steady cutting services and getting away from tenured professors and hiring low paid adjunct professors in the thousands. Nickle and diming students for everything on campus.

But hey these schools need higher tuition to build the new fancy dorm to impress the freshman and their parents (you know got to give these kids the ultimate college experience as they price gouge they little asses) or that new 5 million dollar workout center. Not even talking about the cost to build them football, basketball, volleyball and etc stadiums.

 

[Pressure]

This just seems like an idea to create an untenable policy to force some kind of action.

 

[Insensitive]

In a perfect world this would happen. But most likely that ain't gonna happen no time soon. Schools will swear they are broke and need to raise tuition even though they steady cutting services and getting away from tenured professors and hiring low paid adjunct professors in the thousands. Nickle and diming students for everything on campus.

But hey these schools need higher tuition to build the new fancy dorm to impress the freshman and their parents (you know got to give these kids the ultimate college experience as they price gouge they little asses) or that new 5 million dollar workout center. Not even talking about the cost to build them football, basketball, volleyball and etc stadiums.

But aren't some of the ballooning costs of education related to less tax revenue ?

State Higher Education Funding Cuts Have Pushed Costs to Students, Worsened Inequality | Center on Budget and Policy Priorities

Deep state cuts in funding for higher education over the last decade have contributed to rapid, significant tuition increases and pushed more of the costs of college to students, making it harder for them to enroll and graduate. These cuts also have worsened racial and class inequality, since rising tuition can deter low-income students and students of color from college.

Funding Down, Tuition Up | Center on Budget and Policy Priorities

Years of cuts in state funding for public colleges and universities have driven up tuition and harmed students’ educational experiences by forcing faculty reductions, fewer course offerings, and campus closings. These choices have made college less affordable and less accessible for students who need degrees to succeed in today’s economy.

The problem with higher education is pretty nuanced.
You have for-profit institutions which have propped up to seek whatever certifications they need to siphon money
from students in the form of exorbitant prices for what amounts to a mediocre education. They often target
low income students and first generation college students and offer an extremely low barrier of entry.

Then you have State Universities facing cuts due to policies implemented that direct much needed tax revenue elsewhere.

And then you get to the private Universities who must maintain their sprawling campuses that don't have Govt. source
of guaranteed funding/income. The Harvards and so on and charge such a high expense because of both brand name &
to cover their necessary expenses to continue to operate.

This is an issue which would need to be attacked from multiple angles and it would require and earnest and honest look at where
our spending is going, the first on the chopping block would and frankly should be the MIC.

A lot of these issues started with Reagan and no president since then Democrat or Republican has even tried to remedy it, even
the current debt forgiveness thing is just a band-aid in reality.

Really?

yup.
Mind you that's for a household with one high earner.
Depending on what class the person married into, you could easily have
a household where the total income exceeds $300k or $400k.

Attorneys, Engineers, Managers, Physicians, Mid-level physician assistants (NP's, PA's, Pharmacists) etc.
The compensation only goes up when education is paired with a good solid opportunity to increase income.

I'm not certain about other states but I've visited the neighborhoods of these kinds of individuals
when the husband is a Director or Level 3 Mgr and the wife is an Attorney, both of which earned their
education at USC or UCLA or Stanford etc. It's not hard to picture, especially when I have some of these
high income individuals as coworkers.

 

[Originalman]

But aren't some of the ballooning costs of education related to less tax revenue ?

State Higher Education Funding Cuts Have Pushed Costs to Students, Worsened Inequality | Center on Budget and Policy Priorities



Funding Down, Tuition Up | Center on Budget and Policy Priorities






The problem with higher education is pretty nuanced.
You have for-profit institutions which have propped up to seek whatever certifications they need to siphon money
from students in the form of exorbitant prices for what amounts to a mediocre education. They often target
low income students and first generation college students and offer an extremely low barrier of entry.

Then you have State Universities facing cuts due to policies implemented that direct much needed tax revenue elsewhere.

And then you get to the private Universities who must maintain their sprawling campuses that don't have Govt. source
of guaranteed funding/income. The Harvards and so on and charge such a high expense because of both brand name &
to cover their necessary expenses to continue to operate.

This is an issue which would need to be attacked from multiple angles and it would require and earnest and honest look at where
our spending is going, the first on the chopping block would and frankly should be the MIC.

A lot of these issues started with Reagan and no president since then Democrat or Republican has even tried to remedy it, even
the current debt forgiveness thing is just a band-aid in reality.

Yep you are right with all the points you make brotha. Also thanks for posting that PBS Front Line Documentary. That is one of my favorite and I have seen it at least about 10 to 12 times over the years.

Biden mentioned that the states have neglected to public state colleges and cut their funding to them over the years. So colleges have passed on the buck to the students. That is one of the issues for sure. You also have the government which has not raised the Pell Grant Amount (outside of a couple dollars here and there) over the last 35 years!!

So kids who went to college in the late 80s, 90s, 2000s and today have far far far greater debt than the kids who graduated in the 60s, 70s and very early 80s. Like literally the Pell Grant now is basically the same amount it was in the 90s.....that shyt is insane. There is no reason for this. Yet in the 90s tuition exploded and folks today fail to realize 90s and early 2000s students were even more screwed because unlike the last 10 to 12 years out of state tuition was far higher (often times double the in state tuition) and was not waived or reduced like today.

But another issues is that with a lot of these universities (big or small and especially at PWIs) its an absolute arms race when it comes to providing the latest shiny trinkets on campus to attract parents and their kids. Even the two colleges I graduated from I see how they have increased cost for the college experience but the overall education has suffered. They justify the increased cost by adding fancy buildings, nice high rise parking lots, cute cafeterias with cute furniture and you latest fast food restaurants and yet they got a rotating staff of adjunct professors that leave every year cause they don't want to get any tenured professors.

I say this as a person that has multiple degrees from 3 universities, my wife went to college and my sister and brother, nieces, nephews (through marriage) all went to college or the colleges I graduated from. So I have plenty of years going back and forth to these colleges campuses and seeing real time how they changed over the last 10 to 15 years (academically and aesthetically).

 

[☑︎#VoteDemocrat]

This shyt is real?!

Jim Banks - Wikipedia

en.wikipedia.org

 

[Spidey Man]

That $350 Pell grant I took back in the day turned out to be a pretty good investment.

 

[88m3]

@mastermind @Rhakim come through and celebrate with us?

 

[Javed]

I’m a pell grant recipient


19k left in loans

Thank you Joe

 

[mastermind]

@mastermind @Rhakim come through and celebrate with us?

I’m happy he finally lived up to a promise. Its inadequate and Dems love means testing to make sure not everyone can get it, but he did that it.

Also, I read this only is for people who graduated from college. Very fukked up.

edit: I misread that

 

[mastermind]

Saying that



ignore the dark nature that Biden admin wouldn’t forgive more student loans for more people, but did for the absurdly wealthy who
didnt need it…

and laugh at them pulling up on Gaetz bytch ass

 

[88m3]

I’m happy he finally lived up to a promise. Its inadequate and Dems love means testing to make sure not everyone can get it, but he did that it.

Also, I read this only is for people who graduated from college. Very fukked up.

What are some promises he hasn't lived up to? Pretty positive Progressives have a hard on for means testing too. I'm against it.

You'll need to bring the citations for that claim

 

[the cac mamba]

Pretty positive Progressives have a hard on for means testing too. I'm against it.

when median income in america is 38k, and you make 200k a year, it's hard to argue that college didn't work out for you, and you shouldn't pay your debts back

thats a pretty bipartisan position i think dems realize it

the next step is killing interest on loans. people should pay for school, but not the 'privilege' of the loan. loan for college at 0 percent, as a service from the government

 

[OfTheCross]