If you happened to follow my twitter (now banned- find me on parler), you may have seen my posts on student loan forgiveness.
Conservative Inc., and the geriatrics in the Republican party thing its an awful idea. Even though they have no idea what the student loan system is like, they oppose all reforms, and in doing so, endorse the criminal system we have now. To summarize:
- everyone and their mother encourages you to go to college
- in 2019, 66% of high school graduates enrolled in college
- employers mandate degrees in niche fields for entry-level jobs
- even with a demand in trades, there is not enough demand to starve colleges of souls.
- We are mostly a service economy. Even in trades like welding, it’s beneficial to have a degree in engineering to advance.
- colleges charge incredibly high prices (compared to your gen-x parent’s tuition, even with adjustments for inflation).
- the average cost of tuition is 26k, 43k, or 54k, depending on whether you attend in-state/public, out of state, or a private school. IE, you are paying for a nice new car each year
- Colleges, knowing that students will take loans, increase the cost of tuition WHILE taking grants and federal money to expand not only their teaching faculty, but their unnecessary administrative staff. (IE, most of the cost of attendance is for unnecessary expenses)
- While loan rates can be 2-5%, it is common to see rates from 5-12% for graduate students. Ie, multiple times that of a mortgage, even though the loans are 0-risk and nearly impossible to discharge
- Loans can be consolidated, but the consequence is you can’t enroll in certain payment plans or forgiveness programs. Ie, companies purposely screw over borrowers.
- result: students are forced to take loans to attend colleges in order to hope for a shot at getting a job.
A majority of high school graduated enrolling in college has been a trend for a long time now. In 2000, 40% of graduates enrolled in 4-year colleges and 20% enrolled in 2-year colleges.
Republicans think it’s a great idea to screw over 50% of millennials and zoomers. I don’t know about you, but that’s suicidal. Republicans can’t win without their future support.
Republicans are playing to those nearing 50 and older. They want to raise money and get supporters angry over an issue they don’t understand. Their donor base grew up when college, homes, and cars were cheap, pensions existed, the workforce needed people regardless of degree, and before wage stagnation was realized.
Now people making 30-40k a year with a mortgage-sized student loan payment struggle, while the gen-x and boomer generation laugh at them. This even includes the smart ones who graduated in stem fields, and are now unemployed thanks to Republican efforts to flood American workplaces with h1b visa holders. And the boomers wonder why no one speaks English, and they can’t find American doctors anymore.
Republicans love welfare for anyone except a group of people who will vote for them. In this case, forgiving student loan debt can be done in a way that forgives debts created by irresponsible governance.
It’s also not “welfare” to eliminate high interest loans paid to the government. Especially if it’s forgiveness of all interest payments. But let’s say that we forgive significant portions of the debt. What happens? Younger Americans will no longer be slaves to corporate jobs, and be free to pursue other career paths; budgets will be freed up so people can buy homes; budgets will be freed up allowing for consumer spending – helping general revenue budgets and not the department of education.
Is that so bad? Why wouldn’t we want to support policies that would do the most for the middle class at a time when it’s dying? Do we hate the middle class so much as to enslave workers for 10-20 years?
Rather than take the lead on this issue, republicans would rather sit in the back seat and gripe about every decision (Republicans don’t know how to govern, all they know is to b!tch). A Republican Party this stupid deserves a death.