Federal student loan repayments to restart

[SonOfSun]

Imagine someone mortgaged their house to invest with Bernie Madoff.

Then they lost it all when his scheme collapsed.

And people insisted the taxpayers should pay off that mortgage for him, and let Bernie keep all the money he stole.

Student loan forgiveness is like that.

If someone should be on the hook for swindling kids out of hundreds of thousands of dollars for worthless degrees, it should be the institutions that charged them and provided the degrees.

IMO even that's too far.

There is nothing illegal about selling "useless" knowledge. If you wanted me to teach you about a topic, and I offered to do so for X dollars, that's up to you if you think it's worth that or not. My side of the equation is following through on providing appropriate instruction which allows you to learn said topic provided you do the assignments and study. It's up to you what you do with that knowledge afterwards.

 

[spat]

IMO even that's too far.

There is nothing illegal about selling "useless" knowledge. If you wanted me to teach you about a topic, and I offered to do so for X dollars, that's up to you if you think it's worth that or not. My side of the equation is following through on providing appropriate instruction which allows you to learn said topic provided you do the assignments and study. It's up to you what you do with that knowledge afterwards.

I do think there's a fair bit of fraud involved in modern marketing for academic degrees.

That's why I think the colleges have some liability in this.

 

[Saltwater60]

I do think there's a fair bit of fraud involved in modern marketing for academic degrees.

That's why I think the colleges have some liability in this.

certainly some colleges are complacent and do bad things. That’s why Biden tried to get a lot of these loans forgiven. He went to far and then it does fall back on the school in some manner.
It’s a hard thing to manage and navigate. My wife works for a college if I said the name you’d all recognize. They are open enrollment meaning they accept everyone that applies and this is a good thing because it gives everyone the opportunity for advancement. However this brings down their stats so the Biden admin was on them about a few things. Their tuition is fairly cheap as well and you can get a masters degree that holds weight for about $20,000-$25,000. A bachelors can be had for about half of that and it’s a well known and well respected college.
I would say my son has gone to UB and they are way worse than any dealings I ever had with any of my college experiences and try to sue them or get your loans forgiven by them? My son had the worst academic adviser I have ever seen in my life. Now he’s trying to get an internship he needs to graduate and there is one 75 year old man that does it. My son went to him as soon as the semester started to apply and he said nope too early. Time finally came and he would only allow him to apply to one place at a time. Well the first opportunity didn’t work out because it was 90 minutes away each way 5 times per week so now he’s moving on to other places. Well those opportunities are already filled. I looked at the place he was using as his second option and applications were due 1/31 so not sure why this guy thought applying 4/14 was a good idea. Now he’s scrambling to try to find him whatever he can that starts in two weeks. Certainly this is negligent and my son did his due diligence. Additionally this semester he was only able to get into 2/5 classes he needed for his degree path. These two issues will likely cause my son to have to go an additional semester and cost him and us money. So where does it stop and who is entitled to a refund? I’m not for broad scale forgiveness but there certainly does need to be school or college accountability.
If you look at the stats between my wife’s college and UB they are similar, but UB’s are slightly better, however UB’s stats are off a 6 year college graduation rate and my wife’s school is a 4 year rate. Also my wife’s college is more personal and roughly half the cost to attend. Tuition is the same but the fees are 1/10 of what UB’s are. Speaking of fees any college help that NYS brags about is only able to be used for tuition and not fees. When excelsior scholarship/program came about UB’s fees were under $2,000 and immediately after they jumped to almost $3,700. Why? Is this how they covered excelsior? Yep and no one noticed or will speak up about it. It’s all a dirty rotten game.
I can say I ah e not been pleased with UB and neither has my wife. It has name recognition and will get my son a good job likely but it could be way better with a bit more guidance and a bit of care for the students. I’m sure they get tons of parties that flunk out so the empathy is lost their and I get that.

 

[Saltwater60]

To collections you will go if you don’t pay your loans. Trump may garnish wages, tax returns, or federal benefits if you don’t pay.

I’m not sure how I feel about some of these things. If a private company doesn’t have the legal right to do it then I don’t think the government should be able to either. As far as I know private companies can’t take some of the things Trump is proposing to take. We all have complained many times on here about government carve outs and exceptions so curious how people feel about this? I can understand, wage garnishment and I’m ok with the tax returns but the people on most federal benefits are so low wage earning anyway this may cause huge problems for them. Should they be investigated for fraud, yep but not sure legitimate snap or rent should be withheld to repay student loans.

Something has to change about the cost of college or the way it is handled. Many people are lacking knowledge on how the process works so they are unprepared. Many I talk to have no clue and things loans in any amount can be taken out and that’s not true for undergraduate degrees. It’s very controlled and doesn’t cover the tuition and fees at any college I’m aware of in NYS, but should an undergrad be able to get $40,000 their first year? I’d say no but my complaint is that college costs that to begin with. Also dorming is $18,000 at UB with a meal plan.

Cost of Attendance

Your Cost of Attendance (COA) is a financial aid budget designed to help you plan and manage your expenses while earning your degree at UB.

financialaid.buffalo.edu

I’m not saying .gov should kick in more money but do these things really cost this much? What could be done to reduce costs? I’ll bet every sports team at UB loses the college money. I know someone who played on a team at UB and they get laundry services and meal services included with pick up and drop off from what I was told, but I can’t verify it.

Collections Coming for Millions of Student-Loan Borrowers — The Wall Street Journal

Education Department on Monday will threaten to confiscate tax refunds, federal benefits, wages

stocks.apple.com

 

[Grimscale]

If a private company doesn’t have the legal right to do it then I don’t think the government should be able to either.

I thought a private company COULD garnish wages, etc., after taking you to court for non-payment.
The .gov should have to jump through the same hoops.

 

[Zerex]

Gov does go after taxpayers all the time.................the Garnishee on a typical student who could not get a job, due to drug testing requirements, or a newly laid off Fed worker.............mortgages do not get paid, cars get repossessed................I say 70% of students should not have gone to college, as they cannot work in the field they trained for..............such as African Studies, Ethnic Psychology, Gender Studies, Sexuality of Humans, Pan African Art, International Studies, Ancient History, Greek Philosophy, Indo-Euro studies,
Chinese Culture, Russian History, etc.

The Fed Gov employed many of these uneducated commie slugs, in the Deep State Agencies.


Those who studied Criminal Justice or who went into the Military and got a specialty can, and do work.
Dentists, Lawyers, Dr's can owe $200,000, but generally have work.

An ex BIL, became an Osteopath at age 40..............he paid off his loans for the next 25 years, working as an Itinerant ER Physician.

 

[Saltwater60]

I thought a private company COULD garnish wages, etc., after taking you to court for non-payment.
The .gov should have to jump through the same hoops.

I believe the can garish wages but that’s why I said some of the things Trump is planning to do and by that I meant take away benefits.