re: Will collections garnish wages over student loans?

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Undergrad is filled with unnecessary classes.

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Well turning university into a trade school isn't as big of a deal if you keep expenses low, so you don't need as much of a directly economic analysis and you can value a complete education.

I do believe there should be a new path for "trade school" certificates via college, where you aren't educated like a university is supposed to.

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where you aren't educated like a university is supposed to.

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Educated by what? A bunch of bullshite mandatory elective classes and fluff that isn’t needed.

There is absolutely no reason a 4 year degree should take more than 2 years

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A huge chunk, likely a majority, of the 5M-ish people in stout's OP cannot come close to repaying their monthly notes.

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Don't care. They should have thought of that before they took the loans out. Not societies duty to give them a free pass.

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What we're talking about is the impact that will have on society and our economy, not some virtuous opining about the morality of paying back debt.

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Screw them and society. It's not the rest of societies responsibility to fix their problems. Society will be just fine.

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The assumption baked into this thread is the mathematical certainty that a large portion of this debt cannot be repaid, and discussing the effects of that on the US at large.

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Sure it "can" be repaid, people just don't want to do it. Lot's of whiners out there.

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cannot come close to repaying their monthly notes.

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Sure they can... they need to make better decisions and many times those decisions must be forced...

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impact that will have on society and our economy

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the impact of their not being required to repay their loans would have an even bigger impact, potentially including a dismantling of the program entirely...

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mathematical certainty that a large portion of this debt cannot be repaid

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Again, it can be repaid...

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Don't care. They should have thought of that before they took the loans out. Not societies duty to give them a free pass.

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Again, we're not discussing sympathy for him. Why you keep trying to steer the discussion in that way is mind-numbing.

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Screw them and society. I

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It's not the rest of societies responsibility to fix their problems

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Who is asking society to fix their problems ITT?

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Sure it "can" be repaid, people just don't want to do it.

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No. Especially with the looming shite economy on the horizon mixed with all the inflated cost of basic goods currently.

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Screw them and society. It's not the rest of societies responsibility to fix their problems. Society will be just fine.

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No one ITT has yet stated we need to help these people through any means at all. We are all saying that the problem is so large it could have potential massive effects on our economy which all will feel.

A recession, crash, whatever, is never about just one thing. Not even 2008

In this case, we have record-high CC debt, SLs hanging over many and about to go into garnishment, a false housing market created by programs at FHA, FNMA, VA, etc that just ended last week, car repos are spiking, tariffs, etc

You can virtue signal about people paying their bills and no one will disagree with you. What you are not getting is the large impact this could all potentially have when you look at the big picture.

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explain how irrelevant electives to one’s major is relevant long term

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If you don't understand the value of a well-rounded education, that's your problem.

shite, I dropped a relevant Art of War quote at a lawyer luncheon 2 weeks ago

I'm currently watching videos on soccer tactics to help me develop more overall strategies in various projects I have going on. A well-rounded education teaches a person various ways to conceptualize and analyze things, which is important to have a well-rounded life and economic output.

You don't necessarily have to go to university to become educated, mind you, but it's the typical path that we've found best fits our society over the past 1000 years or so. There are self-starters who have made personal choices on their own to become well read across the board.

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It could be the first domino that falls and fall quickly considering the volume and how many people have been too comfortable not paying the past 4+ years. No way they have it in their budget suddenly

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This. Couple this with credit card debt and this could be the start of a economic hit for a lot of folks

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You can do this without incurring huge debt.

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You're not wrong. But a 17 year old doesn't think about that shite. He's listening to the adults in the room.

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Pretending expensive college was a good idea for most students was an issue.

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Exactly, but it wasn't the 17 year olds doing the "pretending."

Maybe not so much nowadays with kids and society changing on so many fronts, but many, many millenials were scared shitless by their educational system that they'd be left out to dry if they didn't go to university — even the barely passing ones— and the educational system, from the high schools to the colleges, did everything possible to make sure and get them past admissions and on to the student loan building. This was especially so once the fed took over student loans. Students, whether they had any business going to college or not, were treated like beef cattle: a hot commodity there for the taking.

It was/is predatory, and it's nothing if not grooming of teenagers for the financial gain of others.

A whole hell of a lot of adults made damn good money off the backs of teenagers patronized into going to university. The disgusting growth of college administrators is exhibit A. Look at the sickening growth of tuition and school costs year over year since the fed took over. We won't even discuss the way college programs cook their books to enhance their appeal and make employment rates and opportunities after graduation look better than they really are. It's no longer about education, it's about selling a very, very expensive product, and on many fronts, a worthless product, at that.

It's a big ol stinking can of shite that has been kicked over, and now all the people involved don't want to clean it up. The people who stand to make a killing off of it are whistling past the graveyard hoping it takes care of itself while they rack up a salary working banker's hours.

The whole damn system needs to be torn down and restarted.