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Started By
Message
Should Student Loans Be Capped, Based On One's Major?
Posted on 8/24/22 at 11:00 am
Posted on 8/24/22 at 11:00 am
Taking this in a slightly different direction, should student loans be capped based on a person's major? Just as an example, if someone is an education major, should the total of their loans be limited to $50,000? Or maybe an engineering major having his/her loans capped at $100,000?
It seems insane to give Suzy $250,000 in loans so she can go to Vanderbilt for her education degree. And the same can be said for Johnny, who accumulates $350,000 for his political science degree from Stanford. While these are extreme and sarcastic examples, there comes a time when lending institutions (or the federal government) have to know based on the cumulative totals, their loan will not be repaid. So should the institutions make reasonable assumptions about job prospects and salaries and tell students "no" when it is applicable?
It seems insane to give Suzy $250,000 in loans so she can go to Vanderbilt for her education degree. And the same can be said for Johnny, who accumulates $350,000 for his political science degree from Stanford. While these are extreme and sarcastic examples, there comes a time when lending institutions (or the federal government) have to know based on the cumulative totals, their loan will not be repaid. So should the institutions make reasonable assumptions about job prospects and salaries and tell students "no" when it is applicable?
19
Posted on 8/24/22 at 11:00 am to ronniep1
No.
Posted on 8/24/22 at 11:00 am to ronniep1
No
Posted on 8/24/22 at 11:01 am to ronniep1
Since I don’t qualify, I suggest we don’t forgive. If I do, then we should
Posted on 8/24/22 at 11:01 am to ronniep1
If there was any actual underwriting diligence they certainly would be.
Posted on 8/24/22 at 11:01 am to ronniep1
Not only capped, but the worthless majors should be cash only.
Posted on 8/24/22 at 11:01 am to ronniep1
Colleges and Universities are the biggest horses of shite waste of time space and resource there ever fricking was.
Posted on 8/24/22 at 11:02 am to ronniep1
quote:
It seems insane to give Suzy $250,000 in loans so she can go to Vanderbilt for her education degree
Stupid talking point is stupid no matter how many times you tards repeat it.
quote:
And the same can be said for Johnny, who accumulates $350,000 for his political science degree from Stanford.
Johnny goes on to law school and becomes a millionaire.
A large percentage of CEO's have liberal arts and/or humanities degrees. Your idea is retarded
quote:
While these are extreme and sarcastic examples, there comes a time when lending institutions (or the federal government) have to know based on the cumulative totals, their loan will not be repaid.
Well shite, I guess they're just guessing on interest rates. I bet they haven't done any risk analysis on default rates
This post was edited on 8/24/22 at 11:04 am
Posted on 8/24/22 at 11:02 am to ronniep1
No. Are you going to charge lower tuition for some majors?
Posted on 8/24/22 at 11:03 am to ronniep1
quote:
Should Student Loans Be Capped
Negative. People *who agreed to pay it back need to pay it back as written* or don't take out the loan.
Posted on 8/24/22 at 11:03 am to Mingo Was His NameO
quote:
A large percentage of CEO's have liberal arts and/or humanities degrees. Your idea is retarded
I think I know what your major was
Posted on 8/24/22 at 11:03 am to idlewatcher
quote:
*who agreed to pay it back need to pay it back as written*
novel concept, doubt it will ever catch on
Posted on 8/24/22 at 11:04 am to catfish 62
quote:
I think I know what your major was
I don't think you do based on your response but you can guess and look like an idiot if you want
Posted on 8/24/22 at 11:05 am to ronniep1
We have enough data to determine average earnings for different degrees. It should absolutely be capped at that. A sociology major shouldn’t be able to borrow the same amount as a nursing student, or computer science major.
There absolutely needs to be some kind of future means test for student loans. And it should piss every taxpayer off because every student loan is guaranteed by us.
There absolutely needs to be some kind of future means test for student loans. And it should piss every taxpayer off because every student loan is guaranteed by us.
Posted on 8/24/22 at 11:05 am to ronniep1
No.
There are many majors that can take you in many different directions. Earning potential can follow those directions.
There are many majors that can take you in many different directions. Earning potential can follow those directions.
Posted on 8/24/22 at 11:05 am to ronniep1
quote:When did it become government's job to ensure people make good decisions?
It seems insane to give Suzy $250,000 in loans so she can go to Vanderbilt for her education degree
Posted on 8/24/22 at 11:07 am to ronniep1
Yea, they definitely should have calculated loan amount factoring in average starting salary of your major
Posted on 8/24/22 at 11:08 am to Taxing Authority
quote:An argument could be made they should accept that responsibility if they are going to give out subsidized, low interest loans with very little due diligence performed on the ability of the borrower to repay the loan.
When did it become government's job to ensure people make good decisions?
Posted on 8/24/22 at 11:13 am to Taxing Authority
quote:
When did it become government's job to ensure people make good decisions?
I think it’s more complicated than that. Are you really ok with the government offering blank checks to 17-18 year olds who will never be able to pay those loans back? Who does that bill come to at the end of the day?
The only way the cost of higher ed is ever going to come down is if the government stops offering federally guaranteed loans to anyone who applies. Loan forgiveness isn’t the answer either, because we will just be back in the same situation in 10 years.
Posted on 8/24/22 at 11:13 am to ronniep1
allow folks to file bankruptcy when they can't pay and there will be caps real quick
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