Agreed. But if we are going to subsidize profitable businesses surely we can help our youth with some low interest loans ?
From what i have seen and read,, I doubt the interest rate would make any difference to some of those complaining.
They just want out. Free and clear.
Wizzard, I've refrained from answering your past comment because it appears we're on different planes here. My only reference to haviing school loans forgiven was in bankruptcy. That's it, not when things are 'inconvenient'. I was comparing how easy it is for the Trumpster to file bankruptcy and still be 'fabulously wealthy' (his words) to struggling graduates that aren't finding suitable work.
I tried several times to clarify, but it fell on deaf ears.
So do me a favor and listen to what I'm saying.
Lots of apples and oranges here.
1. I don't think Mr. Trump has personally filed for bankruptcy. Some of his business holdings, however, did. This is a legitimate business and economic "tool" often used to save a business.
I can't speak to how this was managed or whether this was a good thing or a bad thing for Trump or his company to do.
But to manage a business entity through bankruptcy proceedings doesn't mean a person can't be otherwise wealthy or that this has some kind of impact on someone trying to find work.
Example. You live in a town and own a meat shop and a candle shop. A bakery down the street is not doing well and is up for sale. You think you can make a go of it as you know it was managed poorly.
You buy it. It is heavily in debt. You file for bankruptcy for the bakery to get it out from under the debt.
Should this impact the other businesses you own? Well, no.
2. Business subsidies and low interest student loans. I can't connect the dots here either.
Profitable businesses get subsidies to get them to perform certain ways. (or political payoffs, but let's take the high road on this one)
More and more low interest student loans sounds good but it has the effect of increasing demand. That means constant increased tuitions. Been in a spiral for decades.
Any event, apples and oranges here as well.
As to education, particularly higher education I would propose something like a Health Savings Account.
An Education Savings Account. Legislation would create such an account. Available in most all financial institutions, parents would open an account for their kids. Percentage of paycheck to go into the account. All pre tax of course. Possibly having employers do a small % match. Grandparents, uncles, aunts, whoever, can contribute to the account and get a tax deduction.
Upon entering a qualified higher educational institution, funds may be pulled out of the account to pay for tuition and specific educational related costs. (books and such) Such monies would never be taxed if used for specific educational purposes.
Of course there is the issue of those kids that don't have parents or have parents that don't have jobs or care enough to start such an account.
The beauty of this program would be that if you know of such a kid you can sign over your account to them or even just use your account to support them. You have the opportunity to personally help with the education of someone less fortunate.
