Student loan relief

  • Article by: EDITORIAL , New York Times
  • Updated: January 2, 2013 - 8:49 PM

At least two-thirds of college graduates borrow to complete their undergraduate degrees. And there are now about 37 million borrowers with federal student loans.

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daisy14Jan. 3, 1311:47 AM

I am not in favor of loan forgiveness. I did pay all of my undergrad and grad loans. Soon both of my kids will be in college and will have to take loans. There needs to be emphasis on letting kids know its ok to live at home while attending college--a lot of what kids are paying for is the "experience" of living away. If you can pay for that, go ahead, but the rest of the country shouldn't have to pay for your "experience".

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triomnJan. 3, 1311:55 AM

Part of the problem that is not addressed is the amounts students have to borrow. If the Pell grant and MN State grants had been tagged to increasing with the costs of living, both these grants would pay for the majority of costs. We should invest for an education that benefits the learner AND our society Low income and first generation students burdened with student loans find it difficult, if not impossible to move out of poverty after college.

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basia2186Jan. 3, 1312:03 PM

obama just got another million supporters for his welfare party! We are doomed if we keep "giving" away the fruits of productive people's labor!

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Don9539Jan. 3, 1312:11 PM

One of the thousands of reasons we are $16 trillion in the hole.

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holstjJan. 3, 1312:55 PM

A college graduate who gets out of school and only makes $25k/year? In 1988 I started at $28k right out of school so perhaps college wasn't the best choice for this person and their career choice.

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gandalf48Jan. 3, 13 1:56 PM

We need competition, why are we telling everyone to go to college for 2 or 4 years and you still might not be qualified for a decent paying job? We need a new educations system that can teach in demand skills to all people (including mid-career professionals) within 6-months to a year and have those people come out with the skills to get a job right out of school. The 2 and 4 year schools can still do their thing and give the well rounded education but many people simply want to get a good job and may not want to pay for those courses in the changing form of the city, environmental/society studies or short stories of the United States (all courses I was forced to take for my engineering major).

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hobie2Jan. 3, 13 2:49 PM

The conservatives move to free market the loans, and Bush revisions of the early 90s, actually worked out quite well for me... Getting the Federal government to stop providing loans to students at 3%, making their parents responsible for part of their higher eduction costs until they were 27, and counting any savings for school that are not managed by a bank against the low cost loan ability - pushing the loans into private lenders gave the banks and financial institutions steady cash cows (students) for 20 years and tapped into the parents home equity (that great source of wealth the banks coveted that homeowners would not let loose), and best part is that the "private" education loans are collected by the power of the government... Yup, first hand experience on this one -- my 24 year old kid went to get a student loan and it sure wasn't like the 60s or 70s - four pages for him, four for me as parent or no loan - 8% rate and private lender only (because I - not he - had too much equity in my house), government collected for the bank - so I did what any smart person would do. He got the loan, and I invested in banking stocks, and sold them before the elections, and paid off his loan with part of the profits... His friends, however, are indentured to the banks for at least 20 years. Worked out great for banks, financial institutions, and us cynics about who in the country sets the rules of the money for education.

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mnmaggiemnJan. 3, 13 2:57 PM

There are many positions out there that should be doable without college. Whatever happened to training on the job. Book keeping, office work, HR etc etc. You now have to prove you went to college to learn how to use basic computer programs such as microsoft office. It is getting ridiculous. Lower the bar, quit tightening laws so much, allow for on the job learning for positions that it can be done with.

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