Asklemmy

43893 readers

791 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
[email protected]: a community for finding communities

~Icon~ ~by~ ~@Double_[email protected]~

founded 5 years ago

MODERATORS

[email protected]

114

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

submitted 1 year ago by [email protected] to c/[email protected]

129 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

[–] [email protected] 3 points 1 year ago

Chicken and egg. The tuitions have been able to reach the insane heights due to the ready availability of these loans.

It was a lot harder to get loans thirty years ago. Almost on par with the criteria for any other personal loan. A four year CompSci degree that could be had for under $25K, in total, opened the door to a $45K to $60K entry level position for a typical graduate.

Availability of loans broke wide open, under the guise of providing opportunity, and now the same degree costs 5-10x with yet the typical entry level salary remains more or less the same, give or take a few inflation points.