(02-06-2021, 09:41 PM)EricC85 Wrote:

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(02-06-2021, 09:12 PM)StroudCrowd1 Wrote: So what is the biggest problem? Is it the loan itself or the payment amount? Why not discuss refinancing at a longer term with VERY low interest rates? Anyone can afford a couple hundred dollars a month.

They already have income driven repayment plans it’s not the payments it’s the amount of these loans. It’s not uncommon for them to be near six figures so now you have a generation with a mortgage payment but no house that’s bad economically speaking. We either have to stop federally funding these loans (my preference) or Establish strict price controls (more likely option given society’s preference to centralize everything). 

Doesn’t change the default bubble coming either way but let’s at least stop the bleeding at some point right?

I mostly agree.
Income based repayment plans are hard to get.  They should be the default for the federally backed loans.
And on the other side, we need to do more to punish the schools whose combination of high cost and low quality causes too many students to be unable to repay.  Schools will be stricter about which students they let in and pay more attention to the quality of their programs that way.
But "reading the tea leaves" as one of you said, I think the elites really do want nearly everyone to go to college, so that you're really not a full member of the economy until age 22 or 26 instead of 18.  They won't do much to make the expensive private colleges more careful.

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