Remember, bankruptcy is not charity for the borrower- it is an investment in a vibrant risk taking economy and fully engaged citizenry (just read a bit about debtor prisons back in the day). Not saying a direct one for one, but we have bigger economic issues at hand than the moral obligation to pay back a debt from you teen years.
You and @wllm have to align your spreadsheets - he is telling me we have few “assets” here to actually worry about and you are saying they are a good asset to fund SS.
To be clear I think a portion of student loans are liabilities not assets, not the entire portfolio.
I hear you. But mixing Obamacare and SL was a mistake and mixing SL with other unrelated programs seems like a mess in waiting. Plus you would have to find funds to replace the stream to Obamacare if SS was to get income.
Exactly!!
Sure there are cheaper law schools. Depends on the field you are going into.Not all lawyers make lots of money. My daughter will be a child dependency lawyer, representing children of abuse and neglect. Most of time its paid by the state because the family has no money. it is a low paying salary compared to tort, accident or defense attorney. Not many law schools specialize in the field.
Yes, it would cause a problem for ACA if it were moved. But the connection between SS (an employment tax) and student loans (acquired with the goal to gain employment) would be more direct. I understand the problems, and it's not like anyone is going to take the idea.
I think it is a little more complicated than that for me. How do you feel about student loan forgiveness for teachers? nurses? or those that enter the military after college? Or those that get law degrees and become public defenders? I'm not sure where to draw the line personally.
Well as of now she is #1 in class. She will graduate Sum-ma cum Laud. But like I responded in a different post, she a child dependency lawyer, representing abused and neglected kids. It pays little compared to other lawyer fields, but its more rewarding I think. Shell be just fine. But still the cost for al students in any field is getting ridiculous while these schools keep making more and mor money.
If she is #1 in a top school, tell her to go to the biggest high paying firm she can for 5 years. Live frugally with roommates. Do a lot of pro bono to help folks like those kids. Pay off student loans and set up a savings account. Then leave the firm and do whatever type of law she wants from there. Those big firms will give her top notch training and great political connections she can use for the kids for decades to come. Most entry-level pro-bono type jobs don’t do a great job of training and the kids/clients don’t always get the best lawyering. Think of it as a residency or post-doc. No need to be poverty lawyer day one.
And the rich will get richer
Are you suggesting that during the lowest unemployment on record and very significant increases in pay levels in many walks of life and after a free 3 year no payment holiday they saved nothing to resume payments? And that is for their neighbors to pay on their behalf? Seems a bit much to ask to have sympathy at this point.
