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US to forgive at least $108B in student debt in coming years

That's $108 BILLION dollars!
"Congress approved the plans in the 1990s and 2000s, and President Barack Obama has used executive actions to extend the most-generous terms to millions of borrowers."
There's that Obama guy again, and who ultimately pays this debt? Might this be part of the problem that helped create the snowflakes?
 

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L'Étoile du Nord
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The cost of college is insane. I don't know what the answer is or should be; but I know it's damn hard for middle class people to put their kids through college.
 

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As far as I'm concerned something needs to be done with the excessive amount of money spent on college sports and it's related costs.

Wouldn't hurt to reign in some of those tenured professors who don't spend time in the class room like they were originally paid to do.

It won't fix the whole problem but it would be a start.
 

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So long as there were easy student loans and grants, etc. there was no reason to keep costs under control. When I started in 1965 my college tuition was $270 per year. It's now $14,070, or 52 times as much. Inflation hasn't been that high.
 

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So long as there were easy student loans and grants, etc. there was no reason to keep costs under control. When I started in 1965 my college tuition was $270 per year. It's now $14,070, or 52 times as much. Inflation hasn't been that high.
25k a year at the U of M. 14k a year would be perfectly reasonable to me.
 

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I really disrespect anyone who borrowed money and did not pay it back. I don't care how much school costs. You made the deal, gave your word and did not own up to it. I have 3 degrees, and two certificates. I paid cash for every one of them, going to school nights while I worked and raised a family. My last three years I was a full time student, living off my own savings. I started life as a homeless teen, so it is not like I had some parents with a big checkbook behind me.

People who hate their college loans are not victims, they are lazy and irresponsible. No one put a gun to their head, they made their choices, now it is time to live up to the commitment. Did the Colleges loose focus and accountability? I believe they did, but it was fueled by the irresponsible being lavish with borrowed money.

I know people drawing Social Security complaining about being victimized by the government over their student loans. They had better homes than me, drove better cars and had more vacations. Yet they whine like they are victims. They lived their whole lives with the benefit of a college education and never bothered pay their debt. I call them crooks.

I paid every penny of mine, and millions of dishonest people want me to pay for theirs too.
 

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L'Étoile du Nord
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I really disrespect anyone who borrowed money and did not pay it back. I don't care how much school costs. You made the deal, gave your word and did not own up to it. I have 3 degrees, and two certificates. I paid cash for every one of them, going to school nights while I worked and raised a family. My last three years I was a full time student, living off my own savings. I started life as a homeless teen, so it is not like I had some parents with a big checkbook behind me.

People who hate their college loans are not victims, they are lazy and irresponsible. No one put a gun to their head, they made their choices, now it is time to live up to the commitment. Did the Colleges loose focus and accountability? I believe they did, but it was fueled by the irresponsible being lavish with borrowed money.

I know people drawing Social Security complaining about being victimized by the government over their student loans. They had better homes than me, drove better cars and had more vacations. Yet they whine like they are victims. They lived their whole lives with the benefit of a college education and never bothered pay their debt. I call them crooks.

I paid every penny of mine, and millions of dishonest people want me to pay for theirs too.
I think everyone would agree with you 100%.
 

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Here's a question for ya'll. If you have a loan forgiven, does that classify it as income---therefore taxable?
 
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The cost of college is insane. I don't know what the answer is or should be; but I know it's damn hard for middle class people to put their kids through college.
So long as there were easy student loans and grants, etc. there was no reason to keep costs under control. When I started in 1965 my college tuition was $270 per year. It's now $14,070, or 52 times as much. Inflation hasn't been that high.
It's very much insane and out of control. Easy to get guaranteed student loans definitely are ENABLERS that foster these high costs. But it's just not post education that is out of control Google cost of public education and you'll find $10,700 per pupil per year average in 2013 for public education costs which is crazy.

Same google search for community college: While the average tuition and fees at a community college is $3,347 for the 2014-2015 academic year, housing cost another $7,705, books averaged $1,328 and transportation added up to $1,735.

Public education won't have housing, but will include transportation and education for $10.7K per year while CC will be 6.2K (without housing). Anyone see problems with this? The private sector comes in at roughly a bit over half the cost. But read on:

I have very mixed feeling on Education costs. I grew up going to a private Christian school from K to 8th grade (think charter school) thanks to sacrifices my mom and dad made. I wanted/pleaded with my parents to go to public high school so that I could play sports and finally go to school with all my friends. In hind site I shouldn't have done this because my 8th grade education was better then my 12th grade education and I majorly slacked off in a big way in high school due to already knowing all the material being covered and being very bored. The private school education was far better then the public school education on every level I personally experienced!

It's pretty bad when an 8th grader already has an education that surprises that of a 12 grader. I didn't do great in high school (very bored in classes) but was already attending my local community college and had earned 4 associate degrees before graduating high school. I got my GED during the summer of 8th to 9th grade in order to take CC courses. I scored an 790 on the SATs. (out of 800) after just 8th grade. The local school district tried to disqualify me from attending high school because I already had my GED but I prevailed and was still allowed to attend. I think I'm still the the only person in my local school district to get a GED before entering high school.

Skip several years ahead. Now as a father I have two kids. My daughter is smart as a whip and is working towards a doctorate at a University and holding 3 jobs to help pay for it. All AP classes when available in high school and involved in everything at school. My son (18 months younger than his sister) is Autistic (high level) but has had to have aids in his class to help him since 4th grade and went to a special school for autistic children from 7th to 12 grade. Children like my son drive up the costs of the average student costs in public schools for sure. He essentially got "shipped" out of his school district to attend a school better suited for his learning about an hour from home (add transportation costs). He graduated high school last year and is now attending a local community college in a special program that takes things a bit slower (think 3 years vs 2) but he is furthering his education. Had he not benefited from such public "service" programs he never could have done this.

This obviously leaves me in a predicament on education costs across the board since I've personally experienced both extremes of education and it's costs. As much of a conservative I am/want to be I also understand that some benefit programs couldn't be possible if individually paid. I'm a smart guy for sure (as well as his mother) and have taken advantage of public assistance available for him (my son). I've done everything I can to make sure he benefited from everything available to him under current laws

I'm fortunate in that I've done well in life due to hard work and could take loans to help my son if needed. But I also know that very few "average" people would be able to do the same for their children in similar situations. When you are employing 100+ people in the local community it's not hard to pursued local boards (of education) to do your will but not many people are in this situation. So I totally get this double edge sword (if you will).

I've been fortunate (x wife also) to be part of a panel to Gov. Christie to help understand this (educational costs and benefits of public education). Maybe that puts me firmly in the Rhino class, not sure. It's very hard to have views of one nature but then take advantage of those in another nature for sure (first to admit this).

I know Christie asked me and my X point blank how I/we felt about public education and I told him that I have mixed feelings. And that the best I've been able to come up with is that each parent should be responsible for the education costs of their children but it should be spread out enough to enable them to be able to pay it off. It could take you 20 years (average education in years) or maybe 40 years if you have children with special needs. Maybe as a "community" where everyone is due 10% of costs but those without children shouldn't be fitting the bill for those with children in the education system.

It's definitely a tough situation. It's no where as clear cost as many would think it is. My son while a very high level autistic student, but still a drain on the economy is just one example. Do you spend X amount of dollars up front to help him and make him productive in the economy or do you sandbag him an ongoing expense to the economy? What if he din't score 90% productive but only 60%?

All I can say as a person who has experience both sided of the political education agenda and political agenda is that I'm glad I'm not a politician because it's not easy. My son might be on the fringe because the money spent on him will pay off because he is high level and will contribute to our economy in the year to come, but where do you draw the line on such matters (similar to my son)? I know the trials and tribulations of a "borderline" student with promise but what if he was a drain on the economy?

I'm fortunate in may ways because I don't need to think of this. But I'm curious what many of you would think of similar type situations? How would you feel if your had a son or daughter who was only 60% mentally capable? Borderline public school and needing private school? Would you think you should be be personally responsible for your child's education costs which could end up near a million bucks?

It's a very tough situation to say the least but I'm curious how you would feel if you were in this situation????
 

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Tried to add up all the cost for my 4 children in private schools, dorm cost, extra classes, tutoring, college cost, housing and law school for 2 oldest and living expenses etc. etc., and it came to a million and change!!
Aloha
 
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