Editor’s note: This Future View is about Sen. Elizabeth Warren’s proposal to forgive hundreds of billions of dollars in student-loan debt.
As we come to the end of the school year—graduation time for seniors—this is a great chance to look back and reflect. Next week we’ll ask, “Who’s the best professor you’ve ever had and why?” Students should click here to submit opinions of fewer than 250 words before May 7. The best responses will be published that night.
The US government spent nearly $700 billion last year on defence. I think spending a few hundred billion on forgiving student loan debt would be a HUGE boon to the economy and certainly make people a heck of a lot happier.
Yep
No, we need to raise taxes on corporations so we can provide free college or trade school for our youth, such as Germany and Norway do...
Keep your opinions to yourself
I do not even have to read the article. Haters gonna hate.
Colleges across the country cannot afford to just forgive 700 billion dollars of debt. The economy cannot support the debt either. Such a move would only cause mass closures of universities across the country significantly reducing opportunity for EVERYONE to attend college.
Yes
To summarize: entrepreneur, business, personal responsibility, investment, boot straps, what doesn’t kill you makes you stronger, blah blah blah blah blah.
How about healthcare debt? How about doing something about the skyrocketing cost of healthcare? And pharmaceuticals? And health insurance?
Yes cancelling the debt would be a very bad idea
If I didn't have to worry about my student debt, I would be able to finish my degree and get a good job and be able to support myself. I would have more money to spend and would do so. Right now I don't spend money because I don't have any leftover. Economy needs this for sure!
The tuition cost is tied to the over paid admin at these colleges. It has nothing to do with past student debt. Future students will benefit from lower tuition not past ones. (Is WSJ losing it's self?)
CANCEL THE STUDENT DEBT AND HAVE FREE TUITION LIKE THE REST OF THE WORLD THEY UNDERSTAND THE MEANING OF EDUCATION
Said the Yale Corporation, Stanford University Board of Trustees, Cornell University but also BetsyDeVosED pockets, amyklobuchar cheap purse and all the get rich quick scammers
What cost isn’t skyrocketing in the US?
Just as our health care is the most expensive in the world and the outcomes are mediocre so too are higher education costs. This is what happens when boards are made up of only elites. Wages have not kept pace with these crazy price increases, unfettered capitalism is the issue.
Too much is paid to the professors! Lower the tuition already!
A WORD TO THE WISE ! 60% of student debt is held by WOMEN ! Men, if you marry a woman who has student loan debts, BE CAREFUL ! If she defaults on those loans, you could get stuck paying back her student loans ! If she divorces you, you might also get stuck with her student loans
No one put a gun to your head and forced you to borrow money to finance your college. You took a loan out and now you want the tax payers to pay it. That isn’t the way loans work. You’re heavily in debt, but at least you can boast about your superior education and degrees. LOL!
“iPhone EMF radiation is among the highest and just below the legal limit” surely the excessive and multiple phone use here...
Textbooks are also costly because publishers release expensive new editions each year they undermining used-book market
Stop student Loans Watch’s go out of business
I feel like a) this article is written by/for those who stand to financially benefit from those with student debt; 2) the just gave a tiny minority a major platform, sort of like the 1 scientist out of 100,000 who thinks climatechange isn’t real.
Stop the Federal government from approving loans for useless degrees. Lower the amount anyone can borrow from the government for college costs. Then watch the costs fall as schools lose students to economic reality. Bet you'll see an exodus of SJW professors.
No one is forced to attend a college. More private colleges (competition) is the answer.
Of course the fucking Wall Street journal would say that canceling student debt is a bad idea. I mean how the fuck are we going to keep the next generation under our thick thumbs if they’re not indebted to us IOU IndenturingOverlordsUnite
Addressing the excessive salaries of the administration and the teachers would help reduce cost. End tenure
Ahhh yes it is
Agreed. No doubt tuition cost is a problem, but forgiving the total debt is not the answer. This is a multi-faceted problem that needs to be solved on several levels. Students need to assume some responsibility for the cost, directly or indirectly.
Wow! Have conservatives finally decided to have a seat at the table and join the debate? Welcome. It has been decades since we have seen you!
But giving relief from overwhelming interest rates has to be addressed.
What this country need is more trade schools, where students will be much useful once they finish their course. But not burden to society.
Hey let's make profit off of what the govt is suppose to do for everyone. -corruption
Increase grants. Reduce interest rates.
College and university Presidents are grossly over paid. The tenure nonsense for professors should cease. Colleges should be using sports events to drop tuition costs & end ling filler classes in degree programs. We have all been there paying for useless classes just for credits.
But bailing out banks was wonderful. What a bunch of hacks.
Well it sure wouldn’t hurt now would it
No, but we're ok with unfunded corporate tax cuts.
Cut the student loan program by 20% colleges will reduce their costs by 20%.It’s because the government readily handed out the money even as they escalated their tuition way beyond the cost of living. These large universities have endowments and tax free property they gobble up!
The student loan program is a money grab by American universities.
Stop the government loans and watch tuition go down.
In a market driven economy there must be a competitive solution.
Until they do something about the high costs of education it’s the only alternative people have to live. Think more respectfully about that.
We need to stop allowing students to take out government backed loans for more than the cost of their education, and ONLY give the money to the college. No $ back to the student. The unnecessary borrowing creates the majority of the debt.
Three students have Cheetos lips.
Now you’re going to address this after how many years..”Please “
No more government loans, will drive down tuition costs.
It’s called government loans thank u Obama
Doesn’t help those with an original debt that has been repaid, but are still paying due to the increasing interest. Why not both.
It's totally Ironic That Elizabeth Warren leading the charge on this She taught One3 credit course at Harvard University for one year in was paid $430000
You didn’t make that argument for the corporate bailout or the trillion dollars in tax cuts but the students comon folks can’t get a break.
Yes, that’s only for AIG, folks.
So called middle class kids getting hammered ! Soon the Middle class will be a distant memory.
4) state school vs an expensive private school 3) pay as you go approach - work/study 2) do the math first: what kinds of jobs graduates of your chosen program get and how much do they get paid? 1) if you choose to take out a loan you alone are responsible for paying it back
Study how federal dollars are causing administrative and professor salaries to skyrocket
Unchain our youth .
.... what Peter Thiel’s been saying for years. Closing in on the bursting bubble.
A system of self perpetual theft and dept enslavement of it's citizens!!
Cancelling debt and subsidizing higher education like we did prior to 2008 IS the ONLY solution. Oh, and up yours.
Money is the driving force of our universities, not education, look at the professors, a joke
Tuition sticker price is high,but most tuition is subsidized by those who can afford to pay sticker price. It’s illegal everywhere else in our economy, but has been pushed since the inflation rates were so high in the early 80’s. No one complained so the colleges kept on doing it
now that’s the answer. three years for college not four.
Wall Street Journal's job? Promoting money, talking about money, writing about the necessity of money as more important than anything else in the world. Of course student debt should be a traded commodity.
It’s outrageous
Costs are skyrocketing because colleges are auctioning spots to the richest families! Stop admitting unlimited number of foreign students, get rid of tenure.
Tuition is high because student loans must be repaid and cannot be erased thru bankruptcy. If this wasn’t the case, banks wouldn’t loan as much and colleges would have to cut tuition.
Higher education didn't use to cost more per year at selective private schools than national median salary. Sadly, that trend is now w/ us. Society has 2 put a value on how important higher ed. is by finding NEW ways 2 finance it. highered college students StudentDebt school
Why can’t we do both
Lop off a few dozen administrators & support staff that have nothing to do with educational outcomes but everything to do with diversity thought policing & safe spaces!
Caveat emptor. No Fed govt solution. Feds should not be involved In Education at all. States perhaps.
Agree the cost at our Colleges and Universities is way to high...have grown well beyond inflation...in the past it was possible to go to a State college or University and work...take a few smaller loans and come out in good shape, military also helped.....now forget it.
But putting a stop to cheap money is. If the government decides that everyone needs a McDonalds cheeseburger and gives everyone an extra $1 a day to spend on a cheeseburger then the price of a cheeseburger will increase $1, because cost is always (market value)+(subsidy). endSL
get a degree with tried and true ROI and don't be afraid of 2 years community college with a transfer into state college. then get your art degree in your 40s when you can afford it
What is a good way to address student debt?student debt
I domt have any student debt, but I agree that it needs to be forgiven or helped. The debt is holding people down.
Exactly - start with the salaries and benefits of employees just like any private company would. ewarren won’t offer that as her family is paid very very well by Harvard
Allowing banking institutions to take advantage of students by charging them exorbitant interest rates is not the answer either. What? Silent on that, are you?
These concepts are NOT mutually exclusive. We need both debt relief and to address skyrocketing college costs. It’s time to be bold.
Are you going to reimburse those of us who saved for college and paid out of our pocket? I did not think so.
Guess the folks at the WSJ forget about how the feds had to bail Wall Street out when they got in over their (university-educated) heads.
Nothing is free. You can’t go around screaming No Taxes! And expect low hanging fruit like education and infrastructure not to be hurt
This isn’t hard to figure out - make the universities responsible for a portion of the loan losses. Then they will stop allowing students to borrow excessive amounts for curriculums of marginal value.
3 trash opinions.
govt giving loans to basically anyone and then universities raise tuition without any oversight Then feds give $$$$$ to universities. Example of govt running something. Terrible!
Better idea that taxscambill that benefited YOU people.
At the VERY LEAST the government should subsidize student loans at zero percent interest. Banks are getting richer, after those huge tax cuts, on the backs of students at 6, 7, 8 % or more in interest. Ridiculous.
Put very simply - people need to go to a school they can AFFORD! Not necessarily the one they WANT to attend!
The labor department publishes the average salaries of most all professions. It's a very simple equation, students shouldn't be able to borrow more than two to three times that annual future income. Universities would reevaluate their costs with those limits!
This sucks lol
So true. Start with largest 10 costs incurred by a university and see how they can be reduced
Written by someone with no student debt...
Why don’t we just require that any university that wants tax payer funding has to freeze tuition for the next 5 years?
Cancelling, ignoring, overlooking the issue is NOT the cure. I the issue is that parents are not paying attention to the issue that they (parents, friends and other families) have constructed. The people are made responsible to fix the issue and it's not fair. ♀️
But it will happen. The college town cronies must be protected.
What I want to know is do those of us who paid their student loans off get reimbursed or are we just left to look like a bunch of dumbasses who paid for college?
I paid off my loans. Get ANY job and do the same!
That “hello” covers a year of college debt...now go 4 to 8 years!
Here is a completely novel idea. Take care of both. Don't treat this as an either/or solution. Eliminate the problem at the root and take care of the effect of the issue.
Underperforming colleges must merge/close. NOT EVERY COLLEGE NEEDS TO OFFER ART HISTORY AS A MAJOR - THE US ECONOMY DOES NOT PRODUCE ENOUGH ART HISTORY JOBS TO JUSTIFY THIS. ...
the worm sucking journal
The only ones who get to cancel their debt like in bankruptcy court are your billionaires like Trump who can claim it like five times and get out of debt but a poor student can't do it that doesn't seem right
Of course. Cancelling a poor student's loan is a bad idea, but cancelling a multi billion dollar corporation's debts and obligations through bankruptcy while paying million dollar bonuses to failed executives is a fine idea. Perfect sense.
Look at Croatia, Slovenia. Completely free of charge universities!!! Excellent quality.
If its a state funded college, tax payers already funding it and should be free or very cheap for residents of state(duh, thats why they were established). Loans should be abolished(especially private loans). Industry should pay for trade schools if they want qualified workers.
Here's the solution: fire half of all administrators and reduce the salaries of the rest by at least 1/3. Those parasites have multiplied like rabbits and are gorging themselves at the public trough. There, that was easy.
'What's is a nice boy like you doing in a place like this?' … these sound like socialist views WSJ. The expensive institutions are private … remember Adam Smith … anyway, (in my view) the brand name of Ivy league schools has lost its 'potentiam'
This system needs to be revised anytime you are 60 years old and still paying on this debt there is a problem
We ?
Not bad, idiotic.
Byeee. 👋 Unfollowing and muting the WSJ. You no longer deserve my audience.
Tuition in USA is ridiculously high compared to other developed nations. What's the reason?!!!! It frightens every potential student searching for an Institution abroad to lookout for anything American
Says the publication that speaks for the 1%.
Good lord. WSJ used to be good at propaganda. This is the dumbest thing ive ever read. You literally said “canceling student loan debt will make the well off richer” How many rich people have student loan debt? That’s the dumbest sentence I’ve ever seen.
Decades of government subsidies have driven up the price, as subsidies always will. Discontinue all government subsidy/aid, except for majors for which we have a labor shortage. Tuition will sink like a stone.
Stop student loans, is the answer. Colleges should have work study programs so students can earn while learning! They become better prepared for the work place !
That's right. None of the Dems plans address the issue of the ever increasing cost of college tuition. They just transfer those costs to all taxpayers.
Opinion person really has a lot of opinions at the WSJ. Opinion is always on the democrats side and against the realDonaldTrump . It seems Opinion is bucking against Liz Warren on this Tweet, biting the hand that feeds Opinion. What's up with THAT?
And colleges offering degrees that will never get you a job in the real world. I saw a video the other day of a girl that owed over $250,000 in student debt for a degree in Speech Mythology! How can you justify that?
Cancel the outstanding student debt, it would be a better boost to the economy than the fake tax cut that benefited no person only companies.
College /University officials are grossly overpaid and have been for years. That's what is sucking up the money forcing large tuition jumps. That and kids pick expensive 'party' schools at some of most expensive college/universities in nation.
Opinion | The Poor Should Shut The Hell Up And Accept Their Fate
ProgressiveTaxation, as done in the not too distant past, applied now to ALL unearned, earned, rent/royalty, capital gain, etc INCOME, with NO CAPS, is the proper and just way to find ALL public schooling from kindergarten to high schools and universities and graduate schools.
Well, it sure isn't going to the instructors! 80% of professors are part-time adjuncts who make almost nothing (less than minimum wage if they spend any time on the class). SaturdayThoughts SaturdayMotivation
We can do both. And by doing both, we would help the economy.
An article encapsulating the modern republican party. We agree there's a problem, and propose absolutely no solution, but we are happy to rip on yours. See also: healthcare, stagnant wage growth, environmental policy, etc.
Why not both?
As the debt crisis is intrinsically tied to the hike in tuition, we can’t even consider debt without considering lending reform
What does a co- conspirator in bad behavior know? Murdoch=a foolish old man
send them into the military. dont you know the military will provide college benefits as a result of service. you never suggest this.
Canceling debt is not a bad idea and we can also look into reducing costs for the future. Stopping such a big crybaby about losing some money that you ripped off from people in the first place 🖕 Regular people are sick and tired of banks stealing everything from us.
This would be a massive redistribution of wealth from the poorest in America towards the top. Canceling all StudentDebt would neither be progressive nor practical, as it does nothing to solve the underlying reasons that led to the debt crisis to begin with.
Give or a try at canceling the student debt. More money to reintroduce into the economy.
We can do both!
Opinion: I make a lot of money off of student debt, so please don’t cancel it.
Use your GI bill. You earned it.
Instead of throwing even more money at college tuition, which will only increase it, let's more closely examine how that money is being spent.
Maybe star running schools as institutions of learning instead of for-profit diploma scams?
Dah! Schools just keep raising tuition prices and the tax payer covers it.
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