Robert Winner

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SHOULD STUDENT LOANS BE FORGIVEN

President Obama said in a political speech that he wants to forgive all student loan debits. The federal agencies and the private lenders stand to lose billions / trillions each. Does anyone have the right to give away tax payers money in a effort to solicit votes.

What about contracts that were signed by all parties?

What message does this send to students?

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    Jun 4 2012: No they shouldn't be forgiven as everyone below says they are a life lesson. You take out credit for a long term benefit. You're being a bit hard on obama though. Remember it is an election year. Maybe they should be honest about it and just give cash incentives for voting the right way. It could be a record turnout. But you only receive the payment if your guy wins. Now there's a complex decision.
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    Jun 2 2012: If the "money" used to make those loans was borrowed from the social security account I have been steadily paying in to for 39 years then NO! They should absolutely not be forgiven. The ponzi scheme will collapse like a pyramid scheme when people quit sending "money" to the name at the top of the list.
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    Jun 28 2012: I think it would be good for every country to invest in educating our talented people. To forgive student loans rather than provide funding for education makes the student aware of the inputs and costs and rewards the completed effort rather than the aspiration which might not be their own. Yes, I am fully in favour of forgiving student loans - it is a forward thinking thing to do which enables the best minds rather than simply the minds whose parents can fund them to make it through to make a significant contribution. If they start saddled with such debt they remain in an unproductive brand of slavery.
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      Jun 28 2012: Debra, Where is this money to come from. Banks that make loans, credit unions, federal grants, out of social security, and other programs that are being looted by those whonever paid into the program. When the loan was made the student and the parents signed a contract for X amount of money at y percentage due over z time. So they should be allowed to disregard any legal documents and avaid any responsibility. Exactly what message is this sending. Are the people who buy houses in "slavery". How about car "slavery". The term borrowing money inplies you will pay it back. This is vote pandering with other peoples money.

      I disagree. All the best. Bob.
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        Jun 28 2012: Hey Bob! You bring up a crucial consideration and i agree that we must all consider where the funding wiil come from. i ASSUMED it would come from my tax money, or course and I think it is important to get a tax system that allows people do direct monies toward things that they agree with. If I fund roads, student loan repayment, and not sewers I have to live with whatever you decideis worthy on the topic of sewers and maybe I will fund differently next time. We all also need to begin to take responsibilty not only for where our money goes but from where our thoughts come.


        Vote pandering, Bob? I am not running for election but I do believe in making countries work- we NEED THEM TO WORK.

        I think it is utter crap for the student and for the country to leave talents undeveloped and i AM WILLING TO PUT MY MONEY WHERE MY MOUTH IS!
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          Jun 29 2012: Tax monies is already obligated through the budget process. If you want to direct where your money goes make donations to specific causes. Next vote pandering .... College students, illegals, and women are the base of the current party vote base. To take money for any where and give it to a specific demographic block to ensure their support and vote is pandering at the worst. Work ... if you have read any o my posts I say over and over I will give a hand up but not a hand out. Talents undeveloped ... who suggested that. We are discussing responsibilities. We all have the opportunity for a college education. I was raised in an orphanage. My sisters cannot read or write, nor could my parents. I worked my butt off and am ABD with hopes of obtaining the Doctorate. I paid for ever step and I think I am better off for it. I am tired of the generation that thinks WE owe them. WE do not owe nayione anything except the opportunity to excell. Finally ... putting your money here your mouth is. We are talking trillions of dollars in taxpayers money in many pots to include Social Security, banks, credit unions, grants, scholarships, college funds, and mom and dads pocket. There is no such thing as a free lunch. Someone has to pick up the tab. The problem with this act of socialism is that sooner or later you will run of of other peoples money. The US is almost broke we cannot afford campaign promises. This administration has spent more in two years that the previous 7 presidents spent combined in all terms of office.

          Great talk. Bob
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        Jun 28 2012: ps Look at the data on the productivity of educated people in terms of GDP - it is or has been wuite compelling and if you also look at the damage doone tothis productivity because these kids are strangled by debt you might reconsider. Also I am not speaking about letting parents off the hook - enough books which pander to those who choose dispair over generativity already do that - I am speaking about letting the kids off the hook. As to slavery in general, less debt in this day and age and living within our means is a lesson NOT for the young but for our own generation.

        I hope you were as indignant before the corporate bail outs that permiated our whole lives!

        PS- I HOPE you can tell that i am delighted with this debate!
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          Jun 29 2012: No doubt as to the contributions of my generation (who paid back their loans) and still prospered. So yu think that this generation needs to live within our means but not the young. Why not both. Look pay back rates are rediculiciously low. I have never hear of a working person who had to opt for either food or loan payment. Eating out every night, drinking, running around, expensive cell phones, cable, etc .. have become the norm. I want the coming generations to except and embrace their responsibilities and debits. I get indignant about many things. I am extremely active in politics and in the community. We still own about 41% of General Motors and all of the taxpayers money that went down the tubes in the GREEN investiments. We need to take the checkbook aways from this guy. Yep I am involved and aware.

          Enjoy talking to you also. All the best. Bob.
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        Jun 29 2012: Thanks for that response! It was exilerating to read such heart felt words. It was also very illuminating. Yes, I am a woman- proudly so. I am also not American and people from different countries are influenced by different propaganda but I do sort of love the way we do it and I think you will find that the idea of working toward individuals taking responsibility for their governments is manifesting in different ways in different countries - most of us drink the tea and believe that tea partiers have drunk the koolaid.
        You have to be aware by now that I am fascinated with Psychology and that I do work - in fact I was responsible for an area almost the size of Texas- before I had my surgery and subseuent injury = and I consider it freaking hard work to take my life back. Your sojourn in the orphanage probably inculcated a thousand great virtues but your writing here does not seem that compassion is one of them. Even the bible sways that we owe love to every man - and taken in context and within its intent that means we owe each person alot. Stick that in your TEA POT and smoke it!
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        Jun 29 2012: In addition, I am getting pretty tired of what seems to be that REpublican tactic - of misparaphrasing and going off on a rant. It is lame and I hope some intelligent Democrat kicks some butt about it. Fox news is not doing you guys any favours and this is disingenuous BS every time you or Pat pull it. As to my generation, come on! I am 56. Aren't you my generation or am I older?
        I did not pay back my loans. I earned my money before hand or I got scholarships so you are partially right on that one= but even you might admit it was misleading. If you never heard of a working person who had to choose between eating and other necessaries you have your head in the tea pot bucko. Read Deadly Spin - one of your own woke up to the misguided travesty he was helping to purpitrate. Psychologists would have a field day= you want this generation to learn what we never did and operate so that your social security works? In Canada we had a guy named Paul Martin -a finanace minister wwho became Prime Minister) who reformed our economy with courage and integrity (OK I probably did not like it at the time but we tend to argue and then comply with what we believe is right) so we not only did not have a financial meltdown -except the drain of being your closest trading partner during your meltdown) we have a stablized old age pension plan and personal responsibility for our old age but we are doing OK with my kid doing trade deals for the country) who happens to be a self made man who did pay all of his student loans.)
        So if you have so little compassion for these kids - are you sure you are in the right job?
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          Jun 29 2012: I have a great deal of compassion. You may have confused that with no patience for free loaders. I am 20 years older than you and have seen enough to know that if it quacks like a duck and walks like a duck it is quite likely a duck. So you say that money was not lost in GREEN investments and the feds do not still own 41% of GM. You appear to be a smart lady. Do the math for yourself. Stop drinking the koolade.

          We may well disagree. I fought for your right to disagree. Regardless of your stand I still enjoy the posts and wish you well. Bob.
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        Jun 29 2012: Dear wonderful Bob!
        I thank you for your service to your country and more immediately for the wonderful fun you have given me tonight but there were many, many beautiful men who fought and died for my rights for at least four additional years from Canada. Honey, I told you my beverage of choice is iced TEA!
  • Jun 2 2012: No the loans should not be forgiven. It took me 20 years to pay back my loans. It is a life lesson. The only way for a loan to be forgiven is if the borrower commits to a job helping society as a whole for a fixed period of time, for example: working in a low income community hospital, school, etc
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    Jun 2 2012: No it should not be forgiven. You borrow.... you pay back! That's the way it works. I paid off my Grad and Undergrad, it wasn't easy, but it can be done.
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    Jun 2 2012: No it should not be forgiven. Repaying loan is also a lesson to student.

    Repayments should be made in such a way that is very easy & no interest should be charged on the principle amount.