Author Topic: Biden's Student Debt Relief Plan  (Read 9708 times)

Online jj1000

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Re: Biden's Student Debt Relief Plan
« Reply #60 on: August 25, 2022, 09:06:13 AM »
Big Uni have billions upon billions in endowments. The numbers are mind boggling.
But is it the big uni debts that are the problem?

Do those students stand a better chance of earing a living?

Perhaps it's the smaller degree printing unis that are the bigger problem.
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Re: Biden's Student Debt Relief Plan
« Reply #61 on: August 25, 2022, 09:07:46 AM »

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Re: Biden's Student Debt Relief Plan
« Reply #62 on: August 25, 2022, 09:10:40 AM »
In regards to fueling tuition hikes on behalf of Big Uni? That is objectively false. Every recent president is guilty, but this guy takes the cake.
He understands more than the last guy. He is just not doing anything about it.
All fine & well but if the government is so involved in bailing out this college tuition mess, from aid to forgiveness, then they have every right & even an obligation to cap the prices.
Agree or not ?
That is a difficult one like should we cap gas prices. Going to have think about that one and get back to you.  :)
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Re: Biden's Student Debt Relief Plan
« Reply #63 on: August 25, 2022, 09:11:59 AM »

We are getting less of everything for the buck, no?
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Re: Biden's Student Debt Relief Plan
« Reply #64 on: August 25, 2022, 09:13:24 AM »

Don't worry, they will call it the Tuition Reduction  Program.
Feelings don't care about your facts

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Re: Biden's Student Debt Relief Plan
« Reply #65 on: August 25, 2022, 09:14:55 AM »
We are getting less of everything for the buck, no?

No, look at the chart again. Tuition is outpacing CPI by a massive margin.
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Re: Biden's Student Debt Relief Plan
« Reply #66 on: August 25, 2022, 09:17:49 AM »
No, look at the chart again. Tuition is outpacing CPI by a massive margin.
Just like so many other things. They tell me inflation is 8.5% but crab legs went from $229 to $500+.
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Re: Biden's Student Debt Relief Plan
« Reply #67 on: August 25, 2022, 09:20:43 AM »
That is a difficult one like should we cap gas prices. Going to have think about that one and get back to you.  :)
We’re in the season of capping. Let’s do this.
There’s rent control. We need tuition control.

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Re: Biden's Student Debt Relief Plan
« Reply #68 on: August 25, 2022, 09:25:06 AM »
We’re in the season of capping. Let’s do this.
There’s rent control. We need tuition control.
If that is the position then please add a cap for crab legs.  :)
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Re: Biden's Student Debt Relief Plan
« Reply #69 on: August 25, 2022, 09:27:58 AM »
Just like so many other things. They tell me inflation is 8.5% but crab legs went from $229 to $500+.

The chart is over 40 years. And we’re not talking about a cherry-picked luxury commodity that can have erratic changes. The basic components of tuition costs such as teachers/staff wages did not see salary increases at anything close 1184%.
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Re: Biden's Student Debt Relief Plan
« Reply #70 on: August 25, 2022, 09:29:20 AM »
If that is the position then please add a cap for crab legs.  :)
Sure. How much has the government spent on bailing out crab legs ? :)

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Re: Biden's Student Debt Relief Plan
« Reply #71 on: August 25, 2022, 09:30:48 AM »
Inside Higher Ed: Harvard May No Longer Be the Wealthiest University.
https://www.insidehighered.com/quicktakes/2022/08/24/harvard-may-no-longer-be-wealthiest-university
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Re: Biden's Student Debt Relief Plan
« Reply #72 on: August 25, 2022, 09:51:45 AM »
Failing to cap tuition increases at CPI as part of this reform is an epic fail.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

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Re: Biden's Student Debt Relief Plan
« Reply #73 on: August 25, 2022, 09:55:49 AM »
The chart is over 40 years. And we’re not talking about a cherry-picked luxury commodity that can have erratic changes. The basic components of tuition costs such as teachers/staff wages did not see salary increases at anything close 1184%.
Look at home prices. That is not a cherry-picked luxury commodity. They have gone up way more than the CPI, no?
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Re: Biden's Student Debt Relief Plan
« Reply #74 on: August 25, 2022, 09:57:13 AM »
Failing to cap tuition increases at CPI as part of this reform is an epic fail.
What things should and shouldn't be capped at CPI?
You are for price controls?
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Re: Biden's Student Debt Relief Plan
« Reply #75 on: August 25, 2022, 09:58:59 AM »
Look at home prices. That is not a cherry-picked luxury commodity. They have gone up way more than the CPI, no?

Good question, but answer is no, it’s barely outpacing inflation over the same time span.

Prices for Housing, 1980-2022 ($100,000)
According to the U.S. Bureau of Labor Statistics, prices for housing are 264.99% higher in 2022 versus 1980 (a $264,989.32 difference in value).

https://www.in2013dollars.com/Housing/price-inflation/1980
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Re: Biden's Student Debt Relief Plan
« Reply #76 on: August 25, 2022, 09:59:55 AM »
What things should and shouldn't be capped at CPI?
You are for price controls?
If an industry needs bailouts, which is effectively what this is, then more regulation is needed. We could have negotiated graduate bailouts and future loan modifications for universities willing to accept some form of tuition reform.

Same as my stance on aviation.
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Re: Biden's Student Debt Relief Plan
« Reply #77 on: August 25, 2022, 10:04:25 AM »
If an industry needs bailouts, which is effectively what this is, then more regulation is needed. We could have negotiated graduate bailouts and future loan modifications for universities willing to accept some form of tuition reform.

Same as my stance on aviation.
So you would be for price regulations when the car industry was bailed out?
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Re: Biden's Student Debt Relief Plan
« Reply #78 on: August 25, 2022, 10:13:16 AM »
Good question, but answer is no, it’s barely outpacing inflation over the same time span.

Prices for Housing, 1980-2022 ($100,000)
According to the U.S. Bureau of Labor Statistics, prices for housing are 264.99% higher in 2022 versus 1980 (a $264,989.32 difference in value).

https://www.in2013dollars.com/Housing/price-inflation/1980
Have no idea what figures they are using. Everything I see has over a 400k increase.
https://fred.stlouisfed.org/series/ASPUS

ETA: Average home price in 1980 was 47.2k
https://www.cnbc.com/2017/06/23/how-much-housing-prices-have-risen-since-1940.html
« Last Edit: August 25, 2022, 10:31:11 AM by CountValentine »
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Re: Biden's Student Debt Relief Plan
« Reply #79 on: August 25, 2022, 10:40:55 AM »
Have no idea what figures they are using. Everything I see has over a 400k increase.
https://fred.stlouisfed.org/series/ASPUS

ETA: Average home price in 1980 was 47.2k
https://www.cnbc.com/2017/06/23/how-much-housing-prices-have-risen-since-1940.html

They are using the housing/shelter component of CPI, which is based on owners equivalent rent - https://fred.stlouisfed.org/series/CUSR0000SEHC

The reason for this -

"WHY DOES THE BLS USE OWNERS’ EQUIVALENT RENT (OER) INSTEAD OF HOME PRICES?
The CPI is intended to capture the price changes over time of the goods and services consumed by households. For housing, the BLS is trying to measure the cost of the consumption value of a home—the shelter services provided—not the change in the value of the house. Thus, the BLS uses the OER to measure the cost of shelter for homeowners. To give a concrete example, if a family buys a house for $300,000 in 2022 and lives there for the next 10 years, their housing-related cost of living is not $300,000 in 2022 and zero in the subsequent 10 years. Rather, their housing-related cost of living is the amount they would have had to spend to consume the same amount of housing services provided by their owner-occupied home."

https://www.brookings.edu/blog/up-front/2022/05/18/how-does-the-consumer-price-index-account-for-the-cost-of-housing/

ETA: You kinda stumped on this one. Happy I learned something new.
« Last Edit: August 25, 2022, 10:44:08 AM by yuneeq »
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