Sen. to introduce bill cancelling up to $50K in student debt for most borrowers | Hacker News Reader

Sen. to introduce bill cancelling up to $50K in student debt for most borrowers

marketwatch.com

10 pointshoward94113 comments

This is ridiculous. Universities duped students into over-paying for essentially worthless degrees. Now, the taxpayers get to foot the bill and the Universities pocketed the money.

What we really need is a complete reform of the student loan system.

Repeal the law that made student loan debt immune from being liquidated in bankruptcy. Lenders might actually take a moment to decide if someone is worth the lending risk.

I think all non-dischargeable debt should be illegal.

Including debt from crimes?

Good point. Non-dischargeable civil debt should be illegal.

What about those who worked while in college to minimize their education debt? Will they get anything back?

What would you have them receive?

How about nothing unless every person that has had student loans is given the same amount?

Up to $50K of their education costs which they paid themselves by working.

As well as those of us that only took out the minimums. Hell my partner took a substantial amount of loans even when a full ride was awarded. We both agree that no one is responsible for the debt but my partner. I had many friends take on excessive debt and buy / live well beyond what they should have.

Also, why should the rest of us bail out expenses because people chose their school over a more reasonably priced in state? There's just too many variables as to why student loan debt is too high. Yes we need a better baseline price for all for schooling, i'm not going to argue there, but to expect those of us that put off luxury to pay off the debts, only for others to get a get out of debt free card. All that does is further build a dependence of the govt will bail me out mentality.

this boils down to "why should people be helped when _I_ had to suffer!"

And it has some truth to it, or it wouldn't come up every time.

I think it would be great to lower public school tuition going forward. State colleges are majorly underfunded.

I don't think someone that got the benefits of private school education should get their payment for it paid by taxpayers, while someone who chose public school get little to nothing.

In addition: those who already paid off their debt?

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