How do you suggest someone with student debt who is unemployed or underemployed pay off student debt?
ALL the students I know want to have a job/career that enables them to pay off their own debt
If they could, they would. Do you seriously think there are people just out of college earning boat loads of money who are just refusing to pay back their student loans? Yeah.. doesn't work like that..
Yeah, like I said, those people don't exist in the real world, if you disagree with that and actually believe that, then cite something that suggests it. Nobody wants to borrow money and not have that investment pay off, indeed, that's the point of a student loan.. Considering the cost of tuition has skyrocketed over the past 3 decades exceeding the increases to the cost of living, inflation and even health care, I'd say colleges and the government are primarily responsible for the student debt bubble. I would also argue generations of people who pushed their kids to go to college share some of the blame. My generation grew up believing we had to go to college to be successful, now that we have, those same people are saying we shouldn't have, that we should have assessed the benefits better, etc..
Either way, Cuban is wrong and here's a thought experiment to illustrate why; Who do you think would be a more productive member of society, person A with $100K+ in student debt or student B with $0 debt? What would person A likely spend the majority of his money on? What about person B?
I, and many others, predict the student loan bubble to pop within the decade and the taxpayers (including the students) are likely going to be the ones footing the bill just like we all did with the financial collapse
I actually agree with TBoneJack on this.
Students who, choose the school they want to attend, ask to borrow money to go to that chosen school, then signs agreeing to pay the student back in full plus interest. That contract is now legally binding and that student is obligated to pay back that debt.
Bringing in "other people's problems", ie. mortgage bubble crowd, is completely irrelevant.
The point of this discussion is to try and figure out a way to either prolong forbearance or get the unemployed students a career enabling them to pay their debts. So bringing in speculations on student character, eg person A / student B theory, is also irrelevant.
By your argument, "..predict the student loan bubble to pop..", we can all agree that this claim is true. TBoneJack, myself and others are merely pointing out that we should look at alternative methods of figuring out what to do about the student loan crisis, as opposed to immediately resort to forgiving $1 Trillion in student loans.
We, as citizens, have only recently started making the student loan crisis a big deal, so we have not put much effort into thinking about how to solve the problem. It seems to me we have simply resorted to yet another bail out.
And now this is where TBoneJack and I probably disagree, I was for the original bailouts because we needed imminent decisions being made to literally save the world from a total economic collapse within a few short months. And that we have to thank the Republicans and mortgage bubble assclowns.
But now that the problem is ever present, we should take efforts to solve it, but not by impulsive responses, as we are not in imminent danger of economic collapse.
Let's not put a bandaid on the problem, let's solve it.
Btw, this Katsu Kush I got.... damn I'm definitely "medicated", as a "motherfucker".
