TAARP (Troubled Academic Assets Relief Program) Bill

[BackSeatEconomist]

KevinR said:

I am against student loan forgiveness. My primary objections are :
It is unfair to those who have repaid or worked around student loans and those who selected a school based on tuition costs.

It is not a sustainable solution or systemic fix.

It will be labeled a demand for a handout and discredit the movement.

The loans to future students are supported by the payments of past students. Forgiving the current loans would be a disservice to future students.

 

This.  The problem is not student loans, which are really a good thing in that they allow millions of Americans, who would not otherwise be able to do so, to go to college.  The problem is that the degrees cost too much for the pay graduates can expect to receive.  Reduce unemployment, increase wages, reduce the cost of education and how we finance education ceases to be a problem.

[optessimist]

Agree is not a matter of student loan forgiveness.

 

Is not politically nor economically feasible to completely socialize higher education, can't think of any large country that does so entirely; would alienate deficit hawks and previous graduates.

 

Some ideas to consider may include tax breaks for companies who hire recent graduates with some kind of matching student debt repayment fund; also student tax credits based on type of degree (may be contentious, but hard to argue that America needs more engineers and scientists versus financial analysts or liberal arts majors. would not be punitive towards the latter, but more rewarding towards the former. also crosses party lines in popular sensibility)

 

Modernization may also be considered in the form of e-learning, or offsite remote classes, to reduce higher education overhead. Perhaps tax incentives could be tied to institutions which aggressively pursue such measures.

 

Perhaps incentives for companies that offer paid internships for two year graduates, that allow further education while working, could also be provided.

 

Also agree the title could use tweaking, the main reason for that acronym is that it already exists in the public consciousness, and would provide a very obvious counterpoint to what previously has been funded, but may carry baggage from the previous bailout/stimulus fund. Open to discussion.

[optessimist]

Believe something similar to this has been reported on the news, debate brewing over legislation to modify student loan debt, don't know specifics yet, but may be coming from OWS. No need for duplicate.