I never went to college. Neither did my kids. We work, we borrow money, we pay it back. The concept of the government paying off any personal loan is nonsense to us. “Rationalizing a handout” is how I read your article.
It took me forever to pay off my student loans. I finally made it a few years ago - but only after my oldest graduated college with twice as much debt. I'm glad my kids won't have to struggle as much as I did.
The blog certainly feels good for everyone! Especially when it starts by saying it doesn’t have anything to do with politics or economics. How can anyone dare fault this?
Thank you for this perspective! I can think of lots of reasons to support the initiative, but valuing the contributions from the beneficiaries of those loans was not something that occurred to me (although it should have!) I was fortunate to have parents that were in the position to pay for my first two years, and then I finished my education in night school while on active duty. I was part of the VEAP contingent (Veterans Educational Assistance Program), the group that fell between the two GI bills during the cold war years. Uncle Sam would give us $2 for every $1 we contributed for education, but your donation was capped at $2700. After that you were on your own, but in the 80's tuition was much more affordable. Now with grown children of my own, I can see the effect on this current generation of astronomical tuition increases, predatory loan policies and interest rates, and a system that funnels kids into degrees that are unlikely to yield future earning commensurate to debt. Coupled with a nearly universal mindset that all kids need an academic degree (vs trade school/apprenticeship), today's situation was a given. For example, I can remember in the early 90's trying to bring in guys I served with for technical jobs in my field. They were the ones that mentored me, and had far more knowledge and actual experience in the field for the positions my company was seeking to fill. Didn't matter, company policy required a four year degree (in any field, even unrelated) to even get an interview. We (previous generations) created this mess, I do not begrudge any assistance we can provide. More remedial actions are needed, though, to stem the debt load on current and future students.
Hear, hear! My parents paid for my undergraduate state college degree with personal loans. I got a full ride grant for my master’s. And I know that my teacher friends, K-12 thru university, are breathing sighs of relief, now that President Biden has lifted what became an onerous burden. Thank you for expressing this so well.
Thank you! I wasn't able to go to school and have no school debt ... among much else that I don't have. But I have been cheering for friends and total strangers who are breathing a little easier this week. You have given me even more reasons to be grateful.
I never went to college. Neither did my kids. We work, we borrow money, we pay it back. The concept of the government paying off any personal loan is nonsense to us. “Rationalizing a handout” is how I read your article.
Man. I LOVE this perspective. Well done and thank you.
It took me forever to pay off my student loans. I finally made it a few years ago - but only after my oldest graduated college with twice as much debt. I'm glad my kids won't have to struggle as much as I did.
The blog certainly feels good for everyone! Especially when it starts by saying it doesn’t have anything to do with politics or economics. How can anyone dare fault this?
Thank you for this perspective! I can think of lots of reasons to support the initiative, but valuing the contributions from the beneficiaries of those loans was not something that occurred to me (although it should have!) I was fortunate to have parents that were in the position to pay for my first two years, and then I finished my education in night school while on active duty. I was part of the VEAP contingent (Veterans Educational Assistance Program), the group that fell between the two GI bills during the cold war years. Uncle Sam would give us $2 for every $1 we contributed for education, but your donation was capped at $2700. After that you were on your own, but in the 80's tuition was much more affordable. Now with grown children of my own, I can see the effect on this current generation of astronomical tuition increases, predatory loan policies and interest rates, and a system that funnels kids into degrees that are unlikely to yield future earning commensurate to debt. Coupled with a nearly universal mindset that all kids need an academic degree (vs trade school/apprenticeship), today's situation was a given. For example, I can remember in the early 90's trying to bring in guys I served with for technical jobs in my field. They were the ones that mentored me, and had far more knowledge and actual experience in the field for the positions my company was seeking to fill. Didn't matter, company policy required a four year degree (in any field, even unrelated) to even get an interview. We (previous generations) created this mess, I do not begrudge any assistance we can provide. More remedial actions are needed, though, to stem the debt load on current and future students.
Well said!
I'm happy that people don't have to scrimp and do without the way we did. And yes, we certainly benefit as a society from the results.
I took out a loan to go to law school and paid it off. I’m happy to have some of my tax money help those struggling to pay theirs.
Hear, hear! My parents paid for my undergraduate state college degree with personal loans. I got a full ride grant for my master’s. And I know that my teacher friends, K-12 thru university, are breathing sighs of relief, now that President Biden has lifted what became an onerous burden. Thank you for expressing this so well.
Thank you! I wasn't able to go to school and have no school debt ... among much else that I don't have. But I have been cheering for friends and total strangers who are breathing a little easier this week. You have given me even more reasons to be grateful.