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+--- Thread: Loan "forgiveness" (/Thread-Loan-forgiveness)
Loan "forgiveness" - IrishJohn - 04-23-2014
Guess I'm doing it all wrong. I could go to top tier school for my grad degree and have the taxpayers foot most of the bill. As a taxpayer myself I really don't like how dysfunctional our system is...
TaxProf Blog: WSJ: Skyrocketing Graduate Student Debt Threatens Income-Based Repayment Programs
Loan "forgiveness" - mcjon77 - 04-23-2014
IrishJohn Wrote:Guess I'm doing it all wrong. I could go to top tier school for my grad degree and have the taxpayers foot most of the bill....
Actually you are more right than you may know. For most top tier schools, PhD programs are fully funded. The student pays nothing, and almost always gets some kind of living stipend. A significant portion (most?) of the money to fund these PhD programs (particularly in the sciences) comes from government grants. So as a taxpayer, you will be paying for it one way or another.
Most likely, the people who pay for these "loan forgiveness" programs won't be you the taxpayer. Instead it will be those people who took out loans and make too much money to have them "forgiven". This group will wind up picking up the slack in the form of higher interest rates. Student loans are VERY profitable for the US government, with a projection of $127 BILLION in profits over the next 10 years. This is AFTER defaults and forgiveness programs are taken into account. Some of those profits go to fund Pell Grants, a lot just goes back into the government's coffers.
Student Loan Borrowers' Costs To Jump As Education Department Reaps Huge Profit
Loan "forgiveness" - UptonSinclair - 04-23-2014
All of the net profits from student loan interest should stay in the program to help others attend college. In my opinion, the biggest problem in public higher education is the lack of government oversight. Universities should have to justify every dollar of tuition increases. There is far much too prestige chasing going on at the expense of both students and taxpayers. Public universities are not private businesses and should not be run as private businesses.