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Re: How Academic Economists View Student Debt Forgiveness (Spoiler: Mostly Unfavorably) [SDG] [ In reply to ]
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SDG wrote:
Yes, Yes and Yes. This is one of the main reasons I voted for Biden and Kamala and expect them to follow through. At a minimum, state school should be free and federal student loans paid off. Having kids come out of school 100K in debt is ridiculous and only leads to more wealth inequality when a kid foregoes school because he can't afford it.

All this "unfair to me," crap that people cannot seem to look past is just silly. You don't view policy from that lens, even when it is politically expedient.

But here is the issue: Rampant lending and unfettered access to capital is the reason that costs have sky-rocketed. This isn't debatable. An increase in the supply of money always INFALTES the cost of something. Forgiving student loan debt will only add to this problem.

I *think* I would be okay with the government paying student loan payments for 6 months as we work our way through this economic catastrophe.

I've said this many times: eliminate the bankruptcy exemption from student loan debt. ANy policy discussion starts there.
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Re: How Academic Economists View Student Debt Forgiveness (Spoiler: Mostly Unfavorably) [BIKE3] [ In reply to ]
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BIKE3 wrote:
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If anyone has been on a campus recently, they'll notice the ever increasing non-education related investments. For example multi-million dollar gyms, plush dorms, cafeterias, etc.


I agree completely.

If a university wants to add a multi-million $ gym, go ahead. Students that want to use it can pay for it if they wish. If they want the fee to be added to their debt, so be it. Same for meal facilities and dorms. Comfortable dorms and basic meal plans can come at a reduced rate. Higher end meals and dorms can cost more. If a student or parents don't want that added to debt, don't include those fees and opportunities.

My dorm room in the 80's would probably be considered "cell-blockish" but it was always warm, dry, had hot water, and toilet paper. The frig was tiny and held a 12pack. The toaster and toaster oven got the job done too. No need to pay for a suite. The food was sometimes sketchy (like most food services at the time) but there were eggs for breakfast and a survivable salad bar at L&D everyday.

If you want a gym, Planet Fitness will do the job. So will Lifetime. Most of us here understand the difference in facilities/luxuries/costs.

I agree. I went to college in the mid-80s and my experience was just like what you described. Part of the problem with rising student loan debt is the ridiculous facilities that schools are building compared to back then. Case in point: Boston University opened a high-rise dorm a few years back right along the Charles River with sweeping views of downtown. A friend of ours works there and said faculty/staff were given a tour just before it opened, and she said it was like being in a luxury hotel. The real kicker is that is was a freshman dorm.

Schools are increasingly pricing themselves out and making it harder for people to be able to afford to attend without incurring a mortgage worth of debt.



"You can never win or lose if you don't run the race." - Richard Butler

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