Should the govt give rations instead of EBT?

stardaqueenb23 wrote: maysay1 wrote: My bad I was just speaking on when it comes from loans...it's in the loan giver's best interest for the person to take out as much money as they want. Exactly this is why I cannot understand why anyone would think deregulating financing college and leaving students who are already in financial need to the private sector is a good idea. The Govt caps student loans at 50k for 4 year degrees and they only cover a certain amount per a semester. If there was 0 financial aid Bank of America would just create a 35% interest loan for Tyrone to get a degree in music production from ICDC college. Then they would sell his loan to a blind trust and start the process over again.

This is already happening and has been happening for years. The only difference between the mortgage bubble and the student loan bubble is that student loans can't be discharged in bankruptcy.

I wish I could just walk away from my student loans (and mine are tiny compared to most people I know) the way many people have walked away from their mortgages.

All of these schools are for profit. Tuition goes up every year without fail & folks are taking out loan after loan. I would even go so far as to say the govt will eventually start creating debtors prisons again.

Finesseful wrote: They should take away fin aid so people don't riot once they find out how they blew 50-100,000 grand on their education & still can't find a decent job all because of some fake ass dream they've been sold by our backwards ass system.

The issue is the dream is not going anywhere. Taking away the means to achieve the dream at a subsidized cost does not improve the problem.Folks are still going to find a way to fund the "American dream" to their detriment I think more focus on preparing students for the realities of college and the workforce is needed. Courses in high school about borrowing and personal finance should be mandatory. Teaching kids about the financial aid and loan systems as well as focusing on math and science programs in high school and teaching kids about careers in their markets is what is needed.

Finesseful wrote: All of these schools are for profit. Tuition goes up every year without fail & folks are taking out loan after loan. I would even go so far as to say the govt will eventually start creating debtors prisons again.

Yup yup. Endowment funds invested in the same companies that are committing banking fraud. Buildings built and salaries paid from funds from donors who make their money from those same companies.

maysay1 wrote: Finesseful wrote: All of these schools are for profit. Tuition goes up every year without fail & folks are taking out loan after loan. I would even go so far as to say the govt will eventually start creating debtors prisons again. Yup yup. Endowment funds invested in the same companies that are committing banking fraud. Buildings built and salaries paid from funds from donors who make their money from those same companies.

This is sadly too true these days.