Loan forgiveness is usually granted as a reward for service- which usually means taking a job that no one wants.  What services are these debtors willing to perform?  Why, they will do the dirtiest job of all- if the government forgives their loans, they will get more credit and spend, spend, spend the economy into a boom for all the rest of us.  Isn’t that nice of them?

When a person gets an education and private loans are put on the table as part of the aid and no explanation of the difference is provided, students get burned.  In this market a new graduate cannot consolidate.  I look at the $500 a month debt of the poster with envy.  At least that’s something.  Sallie Mae wants everything I make in a month and then some.  I cannot stop her or pay her anymore.  She wants thousands a month.  I took out a $40,000 loan and it’s over a 100k in under 2 years now. There is no such thing as consolidation anymore.  Thwas was for people in good economies.  She wants over 2000 a month.  Who can afford such a thing?!?  Let’s talk about how financial aid consultants are out for whatever they can steal, get kickbacks and leave the student saying ‘how am I to pay this bill?  What about rent or my car to get to work?  And we’re not talking a mercedes or a condo on a tropical beach… let’s talk studio with old car.’

The baby boom generation is the first generation in America to leave the next generation less-well off. They have taken the hard work of the greatest generation, turned it into Reagan’s junk-food economics of deregulation and tax cuts—and with the money, bought themselves a bunch of second homes and ski condos, leaving in their wake a generation strapped with mountains of college debt when college is more important than ever to economic success. Fools who have sold their children’s future for a lower capital gains rate… History will not look well upon you.

if the budget is not balanced then a tax-cut is just double-speak for a unilateral loan - one generation “borrowing” from the next without their approval…...

Why are the republicans so against a balanced budget?

ONLY the democrats have balanced the budget in the last 60 years…..

Robert Applebaum shouldn’t have worked in a public interest job for $36k/year knowing full well that he owed $75k.  He made his choice and should be made to pay it.  Should the government also forgive mortgage debt incurred by people who borrowed money they shouldn’t have?  People like Applebaum need to stop whining and start taking personal responsibility for their actions.

I think student loans should be forgiven. I’m going to have to pay the loans off for the rest of my life! Schooling should be free to students willing to learn, and make this country a better place! I won’t stop whining. How can anyone be expected to pay such outrageous debts, have a family, buy a house, etc..? Schools are way too expensive! If the govt. is going to bail out big business’s, they should bail out students in debt as well!

Choice is one you made.  How many other’s gave up their dreams for continuing education because their financial situation made it impossible.  You chose to attend and now want to be reimbursed?  No wonder the economy fell apart with the attitude I “want it all, and want it now”.  Just because you were eligible for these loans didn’t mean you shouldn’t have planned for the future.  It is unfortunate school isn’t free, but it’s not.  Pay your debt.

The economy is bad because America is not competing as well as it used to. A big reason we are not competing is because other industrialized countries send their best and brightest to college for little or no money knowing that a highly educated population is required for global economic vitality.  There are tens of thousands of bright, capable kids in America that have qualified to go to college, but simply can’t because they can’t afford to. That is a tragic waste and a primary reason for our economic decline.

I co-signed on a small student loan for my daughter through Sallie Mae. BIG mistake!! We have paid on it for 4 years. The loan was 5, 000 dollars. Sallie Mae tells me I will have it paid off in 2018. Yeah, 2018. What else? We pay 50-100 a month. If the rates were not so high we could have it paid off in 3 years. That would be 2013. If my addition is right that is at least 5 years of interest added to the payoff. I have told her to be sure to pay this after I die. It will haunt her for 8 more years at least.

Prior to the Reagan revolution most college tuitions were very minimal.  For example prior to reagan being govenor of California they had free college tuition for all state colleges.

BUT then came the Vietnam war and Reagan being the war hawk(or warpig) didn’t like the protesters who were marching in the street against his policies so he said “WHY am I paying for their education so then they have plenty of time to march in the streets protesting?  He said I’ll charge them for college then the vast majority of students will be broke and they will have to work besides going to college and won’t have time to protest.

Greenspan called it structural insecurity.

If we left it up to the republicans only the wealthy would be able to go to college - the rest of us would be serfs!

Student debt in the United States has surged in recent decades, with outstanding federal student debt now topping $500 billion. The share of young adults carrying some educational debt has almost tripled since 1983, according to economist Ngina Chiteji.

At the same time, defaults are on the rise. Between 2006 and 2007, the proportion of borrowers who were supposed to enter repayment for the first time and who instead defaulted went up – from 5.2 percent to 6.9 percent, according to a Department of Education report last month. That percentage is the highest in more than a decade. And the 2008 and 2009 default rates are likely to be much higher.
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