Quote:College costs continue to rise, but one segment might not be very worried: 24 percent of millennials said they expect their loans will ultimately be forgiven, according to study released Wednesday by Junior Achievement and PwC US.

That could be a lot of accumulated debt, considering the average amount of cumulative student debt for undergraduates in the class of 2012 was $26,885, according to a recent Pew Research report. The average debt for 2013 graduates is expected to be even higher. "It's a scary statistic," said Jack Kosakowski, president of Junior Achievement, which co-sponsored the Ypulse survey. The survey conducted for Junior Achievement, "Millennials & College Planning," did not address why the students thought their loans would be forgiven, and it was the first year the question was included in the survey. The report also found that 60 percent of millennials surveyed said financial aid is a deciding factor in their school choice and 21 percent said the cost of college was their family's main financial problem. The survey of 1,000 people in the 14-to-30 year-old age bracket was conducted in May.

http://www.nbcnews.com/business/careers/...ss-n246781

Would Millenials accept debt forgiveness if it was conditional upon them not receiving social security?

The expectation of no accountibilty is something we've been fostering for decades and look at what it has done.

(11-14-2014 09:40 AM)smn1256 Wrote:  The expectation of no accountibilty is something we've been fostering for decades and look at what it has done.

That's why I suggested the above deal. Forgiveness is going to have a disastrous effect across the education industry. For that level of destruction, there needs to be some from of restitution to the gov't.

(11-14-2014 09:27 AM)vandiver49 Wrote:  Would Millenials accept debt forgiveness if it was conditional upon them not receiving social security?

Sure, then they'll lobby to have it restored later.

My wife's aunt was in Mass when they accepted some deal under Dukakis to lose their SS for some immediate gratification.

So guess what she wants now? Her SS ("it's not faaaiiir!") and she blames Reagan.

(11-14-2014 09:49 AM)vandiver49 Wrote:  

(11-14-2014 09:40 AM)smn1256 Wrote:  The expectation of no accountibilty is something we've been fostering for decades and look at what it has done.

That's why I suggested the above deal. Forgiveness is going to have a disastrous effect across the education industry. For that level of destruction, there needs to be some from of restitution to the gov't.

They'd take the deal. Most people live until 80 now a days. When their parents die, they'll be in their 50s and 60s so their children will be in their 20s and 30s. At that point, they can move from their parents' basement to the their childrens' basement and complete their whole lives without having to take on all of the responsibilities of an adult.