Billionaire's Foundation Court Win Eliminates My Student Loan Forgiveness

[Dill]

(11-15-2022, 02:48 PM)GMDino Wrote: I think the bigger issue is that no one is going over the root causes of these debts.  Bank and school greed.  The entire program needs fixed.

But I still think the forgiveness helps those who need it.  I just wish it was part of a larger solution moving forward.

The program began as a way to help poor students (esp. minorities and women) afford college. 

Tuition keeps on rising as state legislatures cut funding for state schools. (Not the only, but the primary driver.)

Fox news never fails to mention Harvard's multi-billion endowment, like that's
typical of the state schools the bulk of students attend. Thousands apply to Harvard
every year, but less than 4% are accepted; it has under 7,000 undergraduates.  
https://en.wikipedia.org/wiki/Ivy_League#Admissions

There are 14.7 million students in state schools this year, as opposed to 5.26 million in private colleges,
which include the questionable for-profits like Phoenix (65,000 undergrads) and Strayer (50,000) whose
default rates match their dropout rate.

But there are less that 60,000 students all Ivy league "high endowment" schools combined--less than the 
total number of U of Phoenix undergrads. The other Elite research schools,
like Stanford, Johns Hopkins, and the University of Chicago don't expand that number by much.

During the 60s states and gov. paid the tuition difference in pubic institutions that students must now make up with loans.
So in a sense the gov. was paying either way. 

The history that needs to be laid before the public is how this non-profit system, a public good, 
was tweaked since the '90s, to create a profitable system of debt peonage* 
which many students can only settle by dying.

*Not for the gov, which is losing money on student loans it insures.