Asklemmy

43851 readers

1481 users here now

A loosely moderated place to ask open-ended questions

Search asklemmy 🔍

If your post meets the following criteria, it's welcome here!

Open-ended question
Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
Not ad nauseam inducing: please make sure it is a question that would be new to most members
An actual topic of discussion

Looking for support?

Looking for a community?

Lemmyverse: community search
sub.rehab: maps old subreddits to fediverse options, marks official as such
!lemmy411@lemmy.ca: a community for finding communities

~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~

founded 5 years ago

MODERATORS

124

Americans, how would you feel about making student loans completely illegal? (lemmy.world)

submitted 1 year ago by nodsocket@lemmy.world to c/asklemmy@lemmy.ml

120 comments fedilink hide all child comments

This would save young Americans from going into crippling debt, but it would also make a university degree completely unaffordable for most. However, in the age of the Internet, that doesn't mean they couldn't get an education.

Consider the long term impact of this. There are a lot of different ways such a situation could go, for better and for worse.

you are viewing a single comment's thread
view the rest of the comments

[–] LilB0kChoy@lemm.ee 5 points 1 year ago (4 children)

Why make it illegal? Why not offer only federal loans?

How about:

20 year loan, 4.125% fixed rate 30 year loan, 4.375% fixed rate

No early repayment penalties and maybe interest returned incentives for full repayment return before term at certain benchmarks.

The average debt for a 4-year Bachelor's degree is $34,700. At the end of 20 years the total repayment amount would be $36,131.375, 30 years would be $36,218.125.

Looks good to me.

[–] Aicse@lemmy.world 7 points 1 year ago (1 children)

Why not make it free? At the end of the education cycle the student will get a job and start paying taxes. Isn't that what society needs? Having educated people to do various jobs. Why putting that behind a crazy paywall?

[–] LilB0kChoy@lemm.ee 1 points 1 year ago

I’d be in favor of that too. My point was to highlight that it’s not the loans themselves that are the problem.

load more comments (2 replies)