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Student loan forgiveness
invite response
2021 Feb 5, 3:30pm 5,449 views 58 comments
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20
KgK one
2021 Feb 7, 3:28pm
Hypothetically speaking if plan is bankrupt USA, Why not clear out all debt beforehand for everyone who votes for them.
23
HeadSet
2023 Mar 7, 11:51am
HeadSet
2023 Mar 7, 11:51am
BayArea says
Joe was asked that by one who also paid off his student loans. Joe's answer was "Life's not fair."
My wife and I paid off a 6-fig medical school loan three years ago.
Should I expect a refund?
If not, why do you pick winners and losers Joe?
Joe was asked that by one who also paid off his student loans. Joe's answer was "Life's not fair."
24
Patrick
2023 Mar 7, 11:57am
Patrick
2023 Mar 7, 11:57am
Lol, so Bidet attempts to unfairly reward one group at the expense of another for his own personal political gain and then blames that on "life".
25
Misc
2023 Mar 7, 12:52pm
The PPP program was directed to reward one group over another. The students were not part of that group.
Where's the fairness doctrine?
Where's the fairness doctrine?
26
Eric Holder
2023 Mar 7, 12:57pm
Eric Holder
2023 Mar 7, 12:57pm
Misc says
Yep. And it was directed to the segment of the economy most likely to cheat on taxes.
The PPP program was directed to reward one group over another. The students were not part of that group.
Where's the fairness doctrine?
Yep. And it was directed to the segment of the economy most likely to cheat on taxes.
27
theoakman
2023 Mar 7, 1:11pm
BayArea says
I opted to not go to med school because I didn't want the loans. To hell if I'm going to be forced to pay for those that did.
My wife and I paid off a 6-fig medical school loan three years ago.
Should I expect a refund?
If not, why do you pick winners and losers Joe?
I opted to not go to med school because I didn't want the loans. To hell if I'm going to be forced to pay for those that did.
28
clambo
2023 Mar 7, 2:40pm
There should be no student loan forgiveness by taxpayers.
If a bank decides to forgive a loan, the bank loses some profit that quarter.
If the US Government forgives a loan, the taxpayers pay for it.
Biden is worse than brain dead.
If a bank decides to forgive a loan, the bank loses some profit that quarter.
If the US Government forgives a loan, the taxpayers pay for it.
Biden is worse than brain dead.
29
HeadSet
2023 Mar 7, 4:33pm
HeadSet
2023 Mar 7, 4:33pm
clambo says
True, but the student loan forgiveness is an act by Biden's handlers. It is not stupidity, is a calculation to buy votes.
Biden is worse than brain dead.
True, but the student loan forgiveness is an act by Biden's handlers. It is not stupidity, is a calculation to buy votes.
31
SunnyvaleCA
2023 Mar 7, 6:06pm
There are several loan forgiveness systems already in place. The gist of them are that you pay 10% of your income over baseline living wage every year, but if you still have loans after 20 or 25 years, the loans are cancelled. So you basically pay 10% of your income exceeding 2x the poverty level for 20 or 25 years. Look at it as yet another tax... social security is 7.5% (or 15%) on every single dollar you earn; living in California often runs 5% to 10% income tax and then you pay an additive 9% sales tax!
The major problem with the government's student loan program is that it allows colleges to massively jack up prices and also allows completely unqualified "students" to attend.
I don't think the government's program is so bad. The problem is the effect it has with the school tuition policies. If the government demanded a school charge each student the same rate, some schools would inevitably have to set prices much lower generally and there would be some schools really trying to keep costs low.
The major problem with the government's student loan program is that it allows colleges to massively jack up prices and also allows completely unqualified "students" to attend.
I don't think the government's program is so bad. The problem is the effect it has with the school tuition policies. If the government demanded a school charge each student the same rate, some schools would inevitably have to set prices much lower generally and there would be some schools really trying to keep costs low.
32
Misc
2023 Mar 7, 6:36pm
What are the completion rates for US community colleges?
Completion rates are low at community colleges. Only 13 percent of community college freshmen receive an associate degree after two years, and 31 percent do so within three years. These very low rates reflect the diversity of student goals.
What percentage of college students fail to graduate?
In four-year institutions, 56% of students tend to drop out after six years (What to Become, 2021). Students aged between 24-29 are most likely to drop out of four-year colleges, as 52.5% of them have already left without a degree (What to Become, 2021).Sep 26, 2022
Colleges in the US are not designed for students to succeed especially community colleges where students trying to be frugal try their hand. Educators know these stats, but continue to push the Community College scam on unsuspecting youth. 12.4 million suckers are enrolled in Community colleges. Since no politician has the Balls to just shut down this massive fraud, forgiving $10k of the debt resulting from this policy error seems humane..
Completion rates are low at community colleges. Only 13 percent of community college freshmen receive an associate degree after two years, and 31 percent do so within three years. These very low rates reflect the diversity of student goals.
What percentage of college students fail to graduate?
In four-year institutions, 56% of students tend to drop out after six years (What to Become, 2021). Students aged between 24-29 are most likely to drop out of four-year colleges, as 52.5% of them have already left without a degree (What to Become, 2021).Sep 26, 2022
Colleges in the US are not designed for students to succeed especially community colleges where students trying to be frugal try their hand. Educators know these stats, but continue to push the Community College scam on unsuspecting youth. 12.4 million suckers are enrolled in Community colleges. Since no politician has the Balls to just shut down this massive fraud, forgiving $10k of the debt resulting from this policy error seems humane..
33
HeadSet
2023 Mar 7, 7:20pm
HeadSet
2023 Mar 7, 7:20pm
SunnyvaleCA says
This. If one had to work their way through college or be sponsored by an employer, the worthless majors would disappear and the costs would come down.
The major problem with the government's student loan program is that it allows colleges to massively jack up prices and also allows completely unqualified "students" to attend.
This. If one had to work their way through college or be sponsored by an employer, the worthless majors would disappear and the costs would come down.
34
Patrick
2023 Mar 9, 11:14am
Patrick
2023 Mar 9, 11:14am
theoakman says
Same for me. I got in to medical school, but just couldn't bear to sign for the loans. Turns out that was the right choice.
BayArea says
My wife and I paid off a 6-fig medical school loan three years ago.
Should I expect a refund?
If not, why do you pick winners and losers Joe?
I opted to not go to med school because I didn't want the loans. To hell if I'm going to be forced to pay for those that did.
Same for me. I got in to medical school, but just couldn't bear to sign for the loans. Turns out that was the right choice.
36
AmericanKulak
2023 Mar 13, 2:34pm
AmericanKulak
2023 Mar 13, 2:34pm
The smart young guy with the curly hair makes the right choice to learn to weld.
https://apnews.com/article/skipping-college-student-loans-trade-jobs-efc1f6d6067ab770f6e512b3f7719cc0
The butchy lesbian and her obese daughter want the college, of course.
https://apnews.com/article/skipping-college-student-loans-trade-jobs-efc1f6d6067ab770f6e512b3f7719cc0
The butchy lesbian and her obese daughter want the college, of course.
37
Eric Holder
2023 Mar 13, 2:38pm
Eric Holder
2023 Mar 13, 2:38pm
AmericanKulak says
https://www.salary.com/research/salary/benchmark/welder-i-salary
Should've learned plumbing instead.
The smart young guy with the curly hair makes the right choice to learn to weld.
How much does a Welder I make in the United States? The average Welder I salary in the United States is $44,598 as of February 27, 2023, but the range typically falls between $39,601 and $51,263. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession.
https://www.salary.com/research/salary/benchmark/welder-i-salary
Should've learned plumbing instead.
38
richwicks
2023 Mar 13, 2:44pm
richwicks
2023 Mar 13, 2:44pm
HeadSet says
It's just empty promises. There can't be student loan forgiveness, it's considered an asset by the US government, and it's over a trillion dollars.
Remember when Biden was promising a $2,000 check for covid relief in 2020?
They are just lying and it's not to get votes, it's to give the ILLUSION that people elected these people. "Oh stupid people believed the nonsense of the candidate, THAT'S why he was elected" - well, did they elect him?
True, but the student loan forgiveness is an act by Biden's handlers. It is not stupidity, is a calculation to buy votes.
It's just empty promises. There can't be student loan forgiveness, it's considered an asset by the US government, and it's over a trillion dollars.
Remember when Biden was promising a $2,000 check for covid relief in 2020?
They are just lying and it's not to get votes, it's to give the ILLUSION that people elected these people. "Oh stupid people believed the nonsense of the candidate, THAT'S why he was elected" - well, did they elect him?
39
AmericanKulak
2023 Mar 13, 2:47pm
AmericanKulak
2023 Mar 13, 2:47pm
Eric Holder says
There's a kid in the story making $24/hr at 19 working on a new plant's plumbing infrastructure.
The minority daughter boo-hoo story, I'm glad the writers were honest enough to quote the school authorities who noted the "At risk" girl never attended the free remedial classes or programs offered. Besides, she don't need a culinary degree to operate a restaurant, esp. since her father runs a freakin' restuarant and can teach her everything she needs to know about running a kitchen and a restaurant.
Should've learned plumbing instead.
There's a kid in the story making $24/hr at 19 working on a new plant's plumbing infrastructure.
The minority daughter boo-hoo story, I'm glad the writers were honest enough to quote the school authorities who noted the "At risk" girl never attended the free remedial classes or programs offered. Besides, she don't need a culinary degree to operate a restaurant, esp. since her father runs a freakin' restuarant and can teach her everything she needs to know about running a kitchen and a restaurant.
40
AmericanKulak
2023 Mar 13, 2:51pm
AmericanKulak
2023 Mar 13, 2:51pm
LPN's average $50k. $40k is the floor for rookies. You can make a lot more as a travelling nurse. 1-1.5 years in most states and most CCs have it cheap.
You can work as much as you want, in fact they'll do anything to get you to work more hours, massive shortage nationwide that's only getting worse.
No asswiping, too expensive to pay $28-30/hr for that ($40 in MA or CA). They use CNAs these days for that. All you do is smack people with 21 gauge needles.
Most majors don't touch $50k for years after graduating and they have $100k in debt these days, and that's in-state.
You can work as much as you want, in fact they'll do anything to get you to work more hours, massive shortage nationwide that's only getting worse.
No asswiping, too expensive to pay $28-30/hr for that ($40 in MA or CA). They use CNAs these days for that. All you do is smack people with 21 gauge needles.
Most majors don't touch $50k for years after graduating and they have $100k in debt these days, and that's in-state.
41
HeadSet
2023 Mar 13, 6:21pm
HeadSet
2023 Mar 13, 6:21pm
AmericanKulak says
Correct. A Culinary college around here (Johnson and Wales University) was easy to get in and easy to graduate. I did notice when I went to one of the graduations, how the dean spoke ahead of the ceremony warning that grads may not get good jobs straight away. That is, a kid came in after working McDonalds, spent 4 years at J&W, then goes back to working at McDonalds.
don't need a culinary degree to operate a restaurant
Correct. A Culinary college around here (Johnson and Wales University) was easy to get in and easy to graduate. I did notice when I went to one of the graduations, how the dean spoke ahead of the ceremony warning that grads may not get good jobs straight away. That is, a kid came in after working McDonalds, spent 4 years at J&W, then goes back to working at McDonalds.
42
Eric Holder
2023 Mar 13, 6:43pm
Eric Holder
2023 Mar 13, 6:43pm
HeadSet says
The whole thing about Culinary degree is weird. To me this is more like trade, not much different from plumbing or welding.
AmericanKulak says
don't need a culinary degree to operate a restaurant
Correct. A Culinary college around here (Johnson and Wales University) was easy to get in and easy to graduate. I did notice when I went to one of the graduations, how the dean spoke ahead of the ceremony warning that grads may not get good jobs straight away. That is, a kid came in after working McDonalds, spent 4 years at J&W, then goes back to working at McDonalds.
The whole thing about Culinary degree is weird. To me this is more like trade, not much different from plumbing or welding.
43
richwicks
2023 Mar 13, 9:09pm
richwicks
2023 Mar 13, 9:09pm
Eric Holder says
You really need a bit of talent to be a good cook and it takes practice. I know I don't have a broad enough palette to be a decent chef.
The whole thing about Culinary degree is weird. To me this is more like trade, not much different from plumbing or welding.
You really need a bit of talent to be a good cook and it takes practice. I know I don't have a broad enough palette to be a decent chef.
44
Patrick
2024 Jun 26, 11:37am
Patrick
2024 Jun 26, 11:37am
https://www.coffeeandcovid.com/p/unprepared-wednesday-june-26-2024
After the Supreme Court blocked his sweeping student loan cancellation last summer, Biden bragged “we can’t have a debate because cannibal rappers named Ice Tea ate Donald Trump.” No, wait, that was a different time. What happened was, not one to let the top court in the land tell him what to do, Biden ineloquently boasted, in a hissed stage whisper, “That didn’t stop me.”
In a 61-page order, penned by two Obama-era judges, a Missouri federal court stayed most of Joe’s new and improved loan forgiveness plan. Eighteen states, including Florida, sued, arguing Biden’s so-called SAVE Plan — actually a giant SPEND plan — wasn’t authorized by Congress, turned loans into grants, and was overall uglier than a slimy hairball the judge’s hairless Persian recently coughed up.
The order held that Biden’s SAVE Plan likely violates the Supreme Court’s major questions doctrine, because it is “‘an enormous and transformative expansion in statutory authority without clear congressional authorization.’” And the court noted the $475 billion estimated price tag would “forgive nearly one-third of all student loan debt.”
Most voters are less enthusiastic about paying off other people’s student loans than Secret Service agents debating who’s going to take Biden’s bite-happy German shepherd Commander for its next walk.
“By attempting to saddle working Missourians with Ivy League debt, Joe Biden is undermining our constitutional structure,” Missouri’s Attorney General Andrew Bailey said. “Only Congress has the power of the purse, not the President. Today’s ruling was a huge win for the rule of law, and for every American who Joe Biden was about to force to pay off someone else’s debt.”
The student loan issue is such a dumb political football. If they wanted to solve it, it could be solved in about ten minutes by letting people with unaffordable student loans discharge them in bankruptcy. The Constitutional bankruptcy system already has all the safeguards to ensure people don’t take undue advantage, and only use it when necessary.
45
Patrick
2024 Jul 1, 6:47pm
Patrick
2024 Jul 1, 6:47pm
https://slaynews.com/news/multiple-court-orders-force-biden-admin-freeze-student-debt-forgiveness/
Democrat President Joe Biden’s administration has been forced to stop all student debt forgiveness programs after multiple court orders.
Federal judges in Kansas and Missouri sided in favor of Republican attorneys general. ...
Republicans have slammed the plans as a barely disguised scheme to buy votes for President Biden using taxpayer dollars.
The news comes as Biden faces growing battles as he hopes to cling to power. ...
The empty promises that Biden made about what he would do in his four years in office were a draw for many at the time.
However, many will be unlikely to be fooled again this time around.
46
HeadSet
2024 Jul 4, 9:39am
HeadSet
2024 Jul 4, 9:39am
Patrick says
Didn't Obama have the government take over all student loans? That would mean that taxpayers would be on the hook for bankruptcies same as if the loans were forgiven.
it could be solved in about ten minutes by letting people with unaffordable student loans discharge them in bankruptcy
Didn't Obama have the government take over all student loans? That would mean that taxpayers would be on the hook for bankruptcies same as if the loans were forgiven.
47
zzyzzx
2024 Jul 5, 4:26am
zzyzzx
2024 Jul 5, 4:26am
Patrick says
ERECTION INTENSIFYING!!!
Democrat President Joe Biden’s administration has been forced to stop all student debt forgiveness programs after multiple court orders.
ERECTION INTENSIFYING!!!
48
FuckTheMainstreamMedia
2024 Jul 5, 7:20am
FuckTheMainstreamMedia
2024 Jul 5, 7:20am
This is all sheer stupidity.
13th grade in California costs a couple grand a year all in. State university costs about $10k a year all in.
Graduate in four years and you are looking at a loan amount that is less than a loan on an average new car.
The reason loans balloon to enormous amounts is people go to private schools and use the loans to live on. Stupid people don’t deserve degrees at tax payer expense.
For reference myself and many co workers have state university degrees and do just fine career and money wise. I just met a “rising star” at my workplace who attended my Alma Mater at the same time I did. She’s got the type A personality and knowledge and experience. She’s already in the public eye in her new job and probably will be moreso by the time I retire in a few years.
There is truly no reason to take out huge loans to attend a very expensive college unless you are looking at being a doctor or similar career path.
13th grade in California costs a couple grand a year all in. State university costs about $10k a year all in.
Graduate in four years and you are looking at a loan amount that is less than a loan on an average new car.
The reason loans balloon to enormous amounts is people go to private schools and use the loans to live on. Stupid people don’t deserve degrees at tax payer expense.
For reference myself and many co workers have state university degrees and do just fine career and money wise. I just met a “rising star” at my workplace who attended my Alma Mater at the same time I did. She’s got the type A personality and knowledge and experience. She’s already in the public eye in her new job and probably will be moreso by the time I retire in a few years.
There is truly no reason to take out huge loans to attend a very expensive college unless you are looking at being a doctor or similar career path.
49
RC2006
2024 Jul 5, 7:30am
RC2006
2024 Jul 5, 7:30am
FuckTheMainstreamMedia says
Not only that many party and live beyond their means with the loans. I knew plenty of people that traveled, had a nice apartment, car, ate out all the time and then cry about having 100+k loan.
The reason loans balloon to enormous amounts is people go to private schools and use the loans to live on. Stupid people don’t deserve degrees at tax payer expense.
Not only that many party and live beyond their means with the loans. I knew plenty of people that traveled, had a nice apartment, car, ate out all the time and then cry about having 100+k loan.
50
RWSGFY
2024 Jul 5, 8:26am
RWSGFY
2024 Jul 5, 8:26am
RC2006 says
Wait, you can pay for a CAR using student loan? I thought the rules were the same as for ESAs and you can't use the latter to buy a car, afaik.
FuckTheMainstreamMedia says
The reason loans balloon to enormous amounts is people go to private schools and use the loans to live on. Stupid people don’t deserve degrees at tax payer expense.
Not only that many party and live beyond their means with the loans. I knew plenty of people that traveled, had a nice apartment, car, ate out all the time and then cry about having 100+k loan.
Wait, you can pay for a CAR using student loan? I thought the rules were the same as for ESAs and you can't use the latter to buy a car, afaik.
51
HeadSet
2024 Jul 5, 9:36am
HeadSet
2024 Jul 5, 9:36am
FuckTheMainstreamMedia says
That is a good deal, I suppose California has low college cots. Putting my daughter through 4 year college cost me $120k.
State university costs about $10k a year all in.
That is a good deal, I suppose California has low college cots. Putting my daughter through 4 year college cost me $120k.
52
zzyzzx
2024 Jul 5, 9:40am
zzyzzx
2024 Jul 5, 9:40am
RWSGFY says
People took vacations with student loans.
Wait, you can pay for a CAR using student loan?
People took vacations with student loans.
53
RWSGFY
2024 Jul 5, 10:00am
RWSGFY
2024 Jul 5, 10:00am
HeadSet says
At UCs you're looking at $40K-ish per year, iirc. $10K probably relates to CSU system.
FuckTheMainstreamMedia says
State university costs about $10k a year all in.
That is a good deal, I suppose California has low college cots. Putting my daughter through 4 year college cost me $120k.
At UCs you're looking at $40K-ish per year, iirc. $10K probably relates to CSU system.
54
GreaterNYCDude
2024 Jul 5, 1:26pm
I took out loans. Federally backed loans in my name, plus state backed loans cosigned by my parents. At the time I saw it as an investment. Get an engineering degree, land a job, pay them back.
Due to circumstances, I took out an additional loan to cover grad school; my employer did reimburse 50% but I needed the money up front and didn't have it at the time.
In 2006 (?) I consolidated the remaining balance into a federally backed loan at 2%. (Thank you Ben Bernanke)
Fast forward 25 years. I still have a balance on the consolidation loan, but the monthly amount is so small, and the interat rate so low, it doesn't make sense to pay it off early.
I strongly disagree with Bidens approach to this "crisis".
Due to circumstances, I took out an additional loan to cover grad school; my employer did reimburse 50% but I needed the money up front and didn't have it at the time.
In 2006 (?) I consolidated the remaining balance into a federally backed loan at 2%. (Thank you Ben Bernanke)
Fast forward 25 years. I still have a balance on the consolidation loan, but the monthly amount is so small, and the interat rate so low, it doesn't make sense to pay it off early.
I strongly disagree with Bidens approach to this "crisis".
55
FuckTheMainstreamMedia
2024 Jul 5, 1:58pm
FuckTheMainstreamMedia
2024 Jul 5, 1:58pm
HeadSet says
University of California runs $25k a year all in(UCLA, UC San Diego, Berkley, etc)
FuckTheMainstreamMedia says
State university costs about $10k a year all in.
That is a good deal, I suppose California has low college cots. Putting my daughter through 4 year college cost me $120k.
University of California runs $25k a year all in(UCLA, UC San Diego, Berkley, etc)
56
FuckTheMainstreamMedia
2024 Jul 5, 9:54pm
FuckTheMainstreamMedia
2024 Jul 5, 9:54pm
I’m not wrong.
And lol about cal state schools frontloading housing, transportation, etc costs. Again, how loan costs balloon. It’s fucking gross.
As long as you can live at home or with relatives, you can work ANY job that’s at least 30 hours a week, pay as you go to 13th grade for two years and then take two years of loans at a cal state school.
Or be a chump, send your kid to live on campus at a private school that won’t help them in most careers and will saddle them or you with $300-400k in debt
And lol about cal state schools frontloading housing, transportation, etc costs. Again, how loan costs balloon. It’s fucking gross.
As long as you can live at home or with relatives, you can work ANY job that’s at least 30 hours a week, pay as you go to 13th grade for two years and then take two years of loans at a cal state school.
Or be a chump, send your kid to live on campus at a private school that won’t help them in most careers and will saddle them or you with $300-400k in debt
57
Blue
2024 Jul 6, 12:10am
https://blog.prepscholar.com/uc-vs-csu-whats-the-difference
There is more state tuition subsidy for CSU compare to UC system! but housing is not much different even for nonresidents.
https://admission.universityofcalifornia.edu/tuition-financial-aid/tuition-cost-of-attendance/
Estimated average costs for California residents, 2024–25
Direct costs On campus Off campus
TOTAL COST (direct and indirect) $42,236 $40,036
Estimated average costs for nonresidents, 2024–25
Direct costs On campus Off campus
TOTAL COST (direct and indirect) $76,436 $74,236
"Over 70% of our California undergrads get an average of $18,000 in grants and scholarships to help with costs, including UC tuition, food and housing, transportation, books and supplies."
"Financial aid is for everyone (including you).
More than 54% of UC's California undergrads pay no tuition
That's because UC has one of the strongest financial aid programs in the country. And we want you to get every penny of help you deserve."
Well, since the emphasis is on family income when it comes to aid, grants and/or scholarships but not much on average expenses, people who are in high cost of living areas like Bay Areas will be at the odds of paying high cost of college costs relatively!
There is more state tuition subsidy for CSU compare to UC system! but housing is not much different even for nonresidents.
https://admission.universityofcalifornia.edu/tuition-financial-aid/tuition-cost-of-attendance/
Estimated average costs for California residents, 2024–25
Direct costs On campus Off campus
TOTAL COST (direct and indirect) $42,236 $40,036
Estimated average costs for nonresidents, 2024–25
Direct costs On campus Off campus
TOTAL COST (direct and indirect) $76,436 $74,236
"Over 70% of our California undergrads get an average of $18,000 in grants and scholarships to help with costs, including UC tuition, food and housing, transportation, books and supplies."
"Financial aid is for everyone (including you).
More than 54% of UC's California undergrads pay no tuition
That's because UC has one of the strongest financial aid programs in the country. And we want you to get every penny of help you deserve."
Well, since the emphasis is on family income when it comes to aid, grants and/or scholarships but not much on average expenses, people who are in high cost of living areas like Bay Areas will be at the odds of paying high cost of college costs relatively!
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If the argument is that 100k is a ridiculous amount for school to cost, then how is paying for it with taxes or debt forgiveness going to fix that in any way ever? At least with a direct responsibility for a high tuition, people will be choosing to get cheaper and equal or nearly equal alternatives via price substitution...
Here is my take on the solution to this problem:
1) Reinstate the ability to declare bankruptcy to discharge student loan debt BUT make there be a 10 year discharge period, with a 10% income repayment cap. This allows people to get out of their debt in the event of life events, but doesn't let them off the hook entirely. It also returns responsibility to the lenders to lend less money if the student doesn't have a good prospect of finding a job with the degree they intend to pursue (or have other means of paying).
2) If the student applies for bankruptcy after completing a degree, the school becomes liable for 30% of the debt remaining after the 10 year payoff period is over for the student. This gives schools some incentive to not steer students into majors that won't let them pay the bills.
What do you guys think?