by Zak ➕follow (0) 💰tip ignore
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Sadly, many community colleges are wrapping up what used to be vocational certificates into "Associate Degrees"
I can see them having to take liberal arts classes in order to keep the liberal arts departments from shutting down.
More good legal news emerged yesterday from the Eighth Circuit. Politico ran the story headlined, “Appeals court blocks Biden's student loan repayment plan, in latest legal blow to administration.”
Yesterday, the Eighth Circuit Court of Appeals completely stayed Biden’s moronically named “SAVE Act,” which buys votes by requiring plumbers and contractors to pay off degrees earned by unemployed baristas, like Bachelors of Arts in “Black Lesbian Dance Theory” and “Critical Studies in Indigenous Gender Mustard.”
Senator Bill Cassidy (R-La.) applauded the court’s decision, sensibly explaining that Biden "isn't 'forgiving' debt. He is taking the debt from those who willingly took it out to go to college and transferring it onto taxpayers who decided not to go to college or already paid off their loans.”
More progress! The RNC is over, but Joe Biden’s fully vaccinated covid quarantine continues. This weekend will feature the Biden resignation watch, as the drumbeat for him to step down will reach a feverish pitch. Can the old man hold out? We’ll see.
ETHS-160 Critical Asian Pacific Islander American Studies: Filipina/X/O Experience in the United States 3
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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?