Lew Rockwell calls for repudiation of student loans

Forgive all college loans?

Are you kidding?

Not only would that lay a huge burden on the taxpayers, it would completely screw over a lot of people who made loans. I know, it's fashionable to claim "banks are evil"- but a lot of those loans are held by small local banks.

Essentially, this would be "welfare for college students/graduates."

If we are against welfare for poor people, why should we be for welfare for college graduates, MOST OF WHOM ARE NOT drowning in debt or unemployed. In fact, they are typically the highest earners.

Plus, it would be a real kick in the nuts to those kids who earned scholarships, or even worse, those who scraped their way through college working 2 or 3 jobs if those who did nothing but take out a loan and show up for class were given a huge, and undeserved, windfall.
 
Jake Ralston said:
Whoa whoa whoa now, wait a second here. Are you claiming that you borrowed ONE HUNDRED AND FORTY ONE THOUSAND dollars for your education? Lol wtf am I reading that right?
Click to expand...
yeah, i really screwed myself-so far- the job market for design/engineering in production was dying, i saw a way to make thing better by being involved in product development at an earlier stage and continue to earn my way through life and make cool stuff for people who wanted it, but i couldn't afford it so i hocked myself to salie mae.

did i mention that i worked full time (co-op) every other quarter?

yeah, its THAT expensive, or at least it was for me.

I jumped in, impatiently, and did this to myself. Sure it was enabled / facilitated "whatever" by outside forces...the same forces that were causing the problem i was fleeing from, but I DID NOT UNDERSTAND THAT YET...now i have learned the hard way NEVER TRY TO IMPROVE YOUR LIFE OR THE LIVES OF THOSE AROUND YOU.

i fell for it
i need help, i dont want to be a bum, i love to create things
i would like a solution, since there is NO WAY OUT
 
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libertarian4321 said:
Plus, it would be a real kick in the nuts to those kids who earned scholarships, or even worse, those who scraped their way through college working 2 or 3 jobs if those who did nothing but take out a loan and show up for class were given a huge, and undeserved, windfall.
Click to expand...

It would also not be fair for those that opted not to pursue a degree due to cost; and instead self-studied to get the same knowledge.

Maybe I misunderstood though, I am against "forgive", however I think some way of allowing them to declare bankruptcy on the debt should be worked out with all the negative effects of a bankruptcy. Plus, require them to reliquish the degree and not be able to claim it.
 
I haven't read th OP yet, but I'm thinking it is a call to change the favored status of student loans, and allow them to be discharged through bankruptcy, if that's what it came to.

Any other loan can be, and thus the market adjusts for those possible costs and losses.

I see no reason why student loans should hold the same indissoluble status as income tax debt or child support.

libertarian4321 said:
Forgive all college loans?

Are you kidding?

Not only would that lay a huge burden on the taxpayers, it would completely screw over a lot of people who made loans. I know, it's fashionable to claim "banks are evil"- but a lot of those loans are held by small local banks.

Essentially, this would be "welfare for college students/graduates."

If we are against welfare for poor people, why should we be for welfare for college graduates, MOST OF WHOM ARE NOT drowning in debt or unemployed. In fact, they are typically the highest earners.

Plus, it would be a real kick in the nuts to those kids who earned scholarships, or even worse, those who scraped their way through college working 2 or 3 jobs if those who did nothing but take out a loan and show up for class were given a huge, and undeserved, windfall.
Click to expand...
 
specsaregood said:
I'm ok with it as long as they return their degrees and aren't allowed to claim them for employment purposes. You want to claim them then you gotta pay for them.
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It's ok the college degrees are worthless and don't help recent grads get a job anyways :)
 
So, instead of my State University degrees which I paid for by working during the summers, I could have gone to Stanford or Harvard for free? I bet those student loans pay for beer, burgers and pizza too... I guess I was the stupid one.
 
pcosmar said:
I have known several dancers that were paying their way through college.
I suspect they did NOT have loans,, They were paying for college.

;)
Click to expand...

you mean YOU were paying their way. ;)
 
pcosmar said:
I have known several dancers that were paying their way through college.
I suspect they did NOT have loans,, They were paying for college.

;)
Click to expand...

I would have to assume that pull wads of cash out of various unmentionables would force one to acquire math skills and advanced accounting knowledge.
 
jkr said:
yeah, i really screwed myself-so far- the job market for design/engineering in production was dying, i saw a way to make thing better by being involved in product development at an earlier stage.

I jumped in, impatiently, and did this to myself. Sure it was enabled / facilitated "whatever" by outside forces...the same forces that were causing the problem i was fleeing from, but I DID NOT UNDERSTAND THAT YET...now i have learned the hard way NEVER TRY TO IMPROVE YOUR LIFE OR THE LIVES OF THOSE AROUND YOU.

i fell for it

i would like a solution, since there is NO WAY OUT
Click to expand...

I feel for you. College is a big scam and most people in college have no business going to college, but college is a big business in bed with the government and they brainwash everyone to think college is needed. They want as many customers as possible.

A large percent of the students drop out of college, and of the ones who do graduate these days most cannot find any job except for basic retail and food jobs that they could have gotten without a degree. College was a waste of time for me, but luckily I made 12000 from it in my 4 years (state scholarships) so I fucked the state of Florida over instead of Florida fucking me over.

There is no way that most of the college students in big depth like you will ever be able to pay off their debt. Something will have to happen- I think the colleges should just eat the loss. It's the least these lying brainwashing scamming bastards could do. The money should be cut from college funding- it's not like they use it for any good.

Most colleges spend money like the British royal family. They need extreme budget cuts. My college spent 30,000 dollars on each statue and bought a few of them- and this is a state in Florida with very low education funding and in a supposed "education budget" crisis.

Society would be so much more productive if the big business known as college stopped sleeping with government and brainwashing everyone to waste their time and money AND tax payer money with college.
 
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