Virginia Tech Football Board

Joined: 12/04/2015 Posts: 2153
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Who is going to pay off this astronomical amount of debt?

If the debt gets written off, are you willing to pay higher taxes to pay for it? Take the tuition out of their pay checks and stop giving loans to go to college. Use a weighted average percentage of their income. The tuition should be based on the average salary of the degree they receive.

STUDENT LOAN DEBT STATISTICS BY LOAN PROGRAM:
Direct Loans $1.32 trillion 35.9 million borrowers
FFEL Loans $245.9 billion 11.0 million borrowers
Perkins Loans $5.2 billion 1.7 million borrowers
Total (All Federal) $1.57 trillion 42.9 million borrowers
[Post edited by mlewisr at 12/14/2021 6:09PM]

(In response to this post by DurhamHokie)

Link: Total US Student Loan Debt Outstanding

Posted: 12/14/2021 at 6:06PM

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Current Thread:

Miami Faculty Upset With Mario Cristobal Contract After... -- EDGEMAN 12/14/2021 2:37PM

They are overpaid and underworked -- mlewisr 12/14/2021 5:28PM

That is not really..... -- 2hhoop3 12/14/2021 8:09PM

Take away the no strings attached -- mlewisr 12/14/2021 8:18PM

Do you realize..... -- 2hhoop3 12/14/2021 8:24PM

So what is your solution? Or do you think this is not a problem? -- mlewisr 12/14/2021 8:30PM

First...... -- 2hhoop3 12/14/2021 10:02PM

Thanks for the compliment ** -- mlewisr 12/14/2021 8:00PM

You are fundamentally clueless… ** -- Salmonellainyoface 12/14/2021 7:51PM

That's just a stereotype, nothing more -- maroonhiker 12/14/2021 5:40PM

I believe college professors deserve more pay. How much annual salary -- proudhokie2001 12/14/2021 7:52PM

Thanks. I'm a professor, my brothers are electricians... -- WarDarnHokie 12/14/2021 6:16PM

Amen -- DurhamHokie 12/14/2021 5:51PM

I think it's a sign of the times. For whatever reason it seems to be -- AbsolutVT03 12/14/2021 5:57PM

Heard doctors & scientists really know nothing, can just do your research! ** -- Salmonellainyoface 12/14/2021 7:52PM

Out of curiosity, what do you see as “well paid” or “middle class” salar -- CrystalCoveHokie 12/14/2021 5:43PM

Way to stereotype and generalize... -- DurhamHokie 12/14/2021 5:30PM

Don't know specifics -- mlewisr 12/14/2021 5:34PM

Tution cost increases are more directly tied to increase in admin staffing -- ShockWaveVT 12/14/2021 6:09PM

Don't know specifics... -- DurhamHokie 12/14/2021 5:55PM

Who is going to pay off this astronomical amount of debt? -- mlewisr 12/14/2021 6:06PM

The U professors are not wrong, but they're not completely right either -- DurhamHokie 12/14/2021 5:27PM

You're insinuating that coaches and profs are paid from the same pot.. -- Techsupport 12/14/2021 8:09PM

That’s not entirely true -- DurhamHokie 12/14/2021 9:19PM

You don't know what you're talking about... -- Techsupport 12/16/2021 09:22AM

I will never ever pity an ivory tower professor complaining about salary. -- jdkhokie 12/14/2021 4:20PM

The only people I know who got one year sabbaticals... -- WarDarnHokie 12/14/2021 6:23PM

Interesting perspective -- Row5Q 12/14/2021 4:44PM

Who cares? I lived in Blacksburg for 30 years, I've seen it. -- UEMcGill 12/14/2021 5:15PM

Full paid junkets -- Row5Q 12/14/2021 5:22PM

Oh, geez, you must be of academia. No point discussing it. ** -- UEMcGill 12/14/2021 5:54PM

I'm sure you would take kindly to someone dismissing your profession of -- AbsolutVT03 12/14/2021 6:07PM

Every job is easy to those who don't do it** -- GoobyPls 12/14/2021 10:54PM

Nice take -- DurhamHokie 12/14/2021 5:57PM

Thus why I say college sports are destroying themselves ** -- fordham 12/14/2021 4:06PM

Even though I believe the faculty are asking legitimating questions -- VTHokie2000 12/14/2021 2:48PM

Those pots are not necessarily so distinct -- Row5Q 12/14/2021 4:49PM

And you are positive an internal loan wasn't taking place between -- VTHokie2000 12/14/2021 4:52PM

That may be the case -- Row5Q 12/14/2021 5:01PM

That is (mostly) true at public universities but same rules dont apply at.. -- ShockWaveVT 12/14/2021 3:49PM

I know the rules between public and private colleges/universities -- VTHokie2000 12/14/2021 4:00PM

The rules have much more..... -- 2hhoop3 12/14/2021 4:56PM

Yes, I know and I talked about GAAP in another post. -- VTHokie2000 12/14/2021 6:06PM

There are also legal requirements governing the expenditure of restricted -- RJHokie 12/14/2021 5:10PM

Well said...... -- 2hhoop3 12/14/2021 5:16PM

Don't think any rules apply to Liberty ** -- EDGEMAN 12/14/2021 4:00PM

Huh ? ** -- mlewisr 12/14/2021 5:29PM

Separate "pots" are true at many schools but apparently not at U -- WarDarnHokie 12/14/2021 3:34PM

Depending on how Miami has established its G/L accounts -- VTHokie2000 12/14/2021 3:48PM

The G/L accounts are..... -- 2hhoop3 12/14/2021 4:05PM

If funds are restricted for a specific purpose, then most of the time -- VTHokie2000 12/14/2021 4:14PM

I know that...... -- 2hhoop3 12/14/2021 4:44PM

Wait until teachers start seeking cash bribes... -- MP4VT2004 12/14/2021 2:55PM

It's becoming a business, so why not? -- EDGEMAN 12/14/2021 2:56PM

Academic Eligibility Insurance Policies? ** -- MP4VT2004 12/14/2021 3:00PM

Teacher NLI? ** -- VTHokie2000 12/14/2021 3:00PM

Not really true at private schools. MIA is transferring hospital profits -- VictoryTurkey 12/14/2021 2:53PM

I thought hospitals all lost money for all the folks that can’t pay for the -- fordham 12/14/2021 4:08PM

Interesting because I thought even private schools couldn't do that -- VTHokie2000 12/14/2021 2:58PM

Not tracking the applicability of accounting procedures -- ShockWaveVT 12/14/2021 4:11PM

Even private schools have to follow their accounting principles -- VTHokie2000 12/14/2021 4:20PM

I would it would depend upon how the parties are set-up as legal entities ** -- marcbvtgm 12/14/2021 3:19PM

Maybe so, but it seems like most colleges and universities (public and -- VTHokie2000 12/14/2021 3:24PM

Private univ’s have more flexibility in establishing governance, etc. -- marcbvtgm 12/14/2021 6:35PM

They may have a little more flexibility than public colleges or -- VTHokie2000 12/14/2021 8:05PM

Unless you are in Russia or China…… ** -- RJHokie 12/14/2021 8:07PM

I guess Coral Gables is now officially apart of China or Russia -- VTHokie2000 12/14/2021 8:11PM

Why can't a private institution use retained earnings for anything they... -- CochraneResident 12/14/2021 3:00PM

Because of the Consistency Principle. -- VTHokie2000 12/14/2021 3:18PM

Virginia's public colleges are separated into Education and General (E&G) -- KeithHokie89 12/14/2021 4:30PM

That may be true for VA, but you can't say it is true for the other 49 -- VTHokie2000 12/14/2021 4:33PM

Who is going to pay off this astronomical amount of debt?

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