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Thread: How Government-Guaranteed Student Loans Killed the American Dream for Millions

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    Post How Government-Guaranteed Student Loans Killed the American Dream for Millions

    How Government-Guaranteed Student Loans Killed the American Dream for Millions. When government-guaranteed checks keep rolling in, there's no incentive for colleges and universities to lower their prices. In fact, they do the opposite.

    I have long advocated that the availability of federal loan money has dramatically driven up the cost of college. This is an interesting article.

    https://fee.org/articles/how-governm...-for-millions/
    Any time you give a man something he doesn't earn, you cheapen him. Our kids earn what they get, and that includes respect. -- Woody Hayes​

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    No excuse for this. None of my children, nephews or nieces owe student loans. The last niece just became a Dr.

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    It's like what I was telling ‎ MisterVeritis
    I do still sell books. Does any of the profit go to me NO. It goes to my grandchildren and the accounts I have set up for them. I am not materialistic . Just like all the profits of my coin selling went to my kids and my brothers and sisters did the same. We looked out for them, not us. I hate to shop.

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    In addition to the problem of colleges increasing prices well above the market, that student loans are not dischargable in bankruptcy is another large part of the problem. If they were, banks would not hand them out so easily. They would first look to see if the student had the aptitude for college. Second they would look to see if the student was studying something that would translate into a paying job. If the answer to either of those was no, the wouldn't loan the money.

    As it is we are setting many kids up for failure- giving them loans that must be repaid to go to a school they may have little ability to pass, or to study something worth nothing to society.
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    My kids some got full rides, ok they are smart, not saying I am. I think they get it from their dad. They were offered free room and board and everything else paid. Regardless I made sure they had the funds if they chose to.

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    Quote Originally Posted by Peter1469 View Post
    In addition to the problem of colleges increasing prices well above the market, that student loans are not dischargable in bankruptcy is another large part of the problem. If they were, banks would not hand them out so easily. They would first look to see if the student had the aptitude for college. Second they would look to see if the student was studying something that would translate into a paying job. If the answer to either of those was no, the wouldn't loan the money. As it is we are setting many kids up for failure- giving them loans that must be repaid to go to a school they may have little ability to pass, or to study something worth nothing to society.
    The no-bankruptcy issue was a legitimate response to students graduating and then running to bankruptcy court. That was openly talked about in the early 80's.
    Any time you give a man something he doesn't earn, you cheapen him. Our kids earn what they get, and that includes respect. -- Woody Hayes​

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    Another issue arising from student loans being readily available is the proliferation of "technical schools" that arose from the easy money. Schools that took the money from the student and gave them nothing in return. I went to college thanks to bagging groceries at Winn Dixie and then by using the GI Bill. I have long held the belief that at least half of the "students" do not belong in college but in learning a trade that people actually need. How many bartenders do we have that have degrees in some liberal arts discipline that produce no jobs. Why was AOC forced to resort to bartending if she had a degree in economics?

    Free money isn't free for the taxpayer.
    Political tags - such as royalist, communist, democrat, populist, fascist, liberal, conservative, and so forth - are never basic criteria. The human race divides politically into those who want people to be controlled and those who have no such desire.
    Robert A. Heinlein

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    This was always a money laundering scam.
    Call your state legislators and insist they approve the Article V convention of States to propose amendments.


    I pledge allegiance to the Constitution as written and understood by this nation's founders, and to the Republic it created, an indivisible union of sovereign States, with liberty and justice for all.

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    Simple supply and demand laws anyone but a politician, apparently, would know. Making loads easy to obtain raises demand and that in turn drives up cost.
    Edmund Burke: "In vain you tell me that Artificial Government is good, but that I fall out only with the Abuse. The Thing! the Thing itself is the Abuse!"

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    Quote Originally Posted by DGUtley View Post
    The no-bankruptcy issue was a legitimate response to students graduating and then running to bankruptcy court. That was openly talked about in the early 80's.
    A proper response to that was the banks vetting potential students like they vet potential homeowners.
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