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Paying Off Other Peoples' Debts

WranglerWrangler Member Posts: 5,788
edited May 2019 in General Discussion
Just saw a story of a billionaire that is going to pay off the student loan debt for the 2019 Class of Morehouse College. We had a story in the local paper about a lady that paid off all of the owed monies at a local public school for school lunches. This does not teach these students and their parents any financial responsibility. If you incur a debt, you are responsible for it. These kids are going to think someone will always bail them out of debt. What makes me even more mad are the people that enable this thought process of debt will just go away somehow. :roll:

Comments

  • mark christianmark christian Forums Admins, Member, Moderator Posts: 24,456 ******
    edited November -1
    IMO, people are free to do what they please with their own money. Using taxpayer money for bailouts; whether provided to people who have mismanaged their personal finances, or to given companies who have mismanaged their business, is another matter entirely.
  • WranglerWrangler Member Posts: 5,788
    edited November -1
    Guess I should have given a little background. I'm raising my kids to learn the value of a dollar. If they want something besides the basics (clothes, food and housing), then they must earn it. My son has bought his own car while working and going to school. I may seem as the * father on the block, but I firmly believe my most important job in this world is to prepare my kids for the real world. They are already on the way to being self- sufficient.
  • select-fireselect-fire Member Posts: 69,453 ✭✭✭✭
    edited November -1
    Maybe the guy was an alumni and just wanted to give. Now for years at Christmas folks have went to Walmart and paid off peoples layaways.. just random gifts of luck. Luck. Luck won't follow the debt holders for long.
  • wpageabcwpageabc Member Posts: 8,760 ✭✭
    edited November -1
    Wouldnt it be nice if gov was not so willing to give out tax payers money. The clowns that represent us for the most part have run up unpayable debts that will strap our childrens, childrens, children.

    There is no one who can pay that debt.

    It is a nice thing to pay for a vets lunch. He or she earned a break.
    "What is truth?'
  • BobJudyBobJudy Member Posts: 6,445 ✭✭✭✭
    edited November -1
    wpageabc wrote:
    Wouldnt it be nice if gov was not so willing to give out tax payers money. The clowns that represent us for the most part have run up unpayable debts that will strap our childrens, childrens, children.

    There is no one who can pay that debt.

    It is a nice thing to pay for a vets lunch. He or she earned a break.
    I agree most of our politicians are inept, irresponsible and borderline criminal with the way tax dollars are spent. I don't worry as much as some about future generations being saddled with the debt our country is in. No one is suddenly going to call in that debt as that would crash the whole worlds economy including the lenders. As it stands now countries like China loan us money to buy their stuff. If our government suddenly said you need to pay your individual portion of the debt there would be a quick revolution and those in power want to stay in power, so that ain't going to happen. Guess I don't really know how this will end up, but should be interesting to watch. Bob
  • Marc1301Marc1301 Member Posts: 31,897 ✭✭✭
    edited November -1
    IMO, people are free to do what they please with their own money. Using taxpayer money for bailouts; whether provided to people who have mismanaged their personal finances, or to given companies who have mismanaged their business, is another matter entirely.
    X-ring
    "Beam me up Scotty, there's no intelligent life down here." - William Shatner
  • droptopdroptop Member Posts: 8,367 ✭✭
    edited November -1
    The availability of student loans to almost ANYONE is (IMHO) the primary reason tuition fees have gone through the roof. The Colleges are laughing all the way to the bank.

    University gets more money, students borrow more, university charges more, students borrow more, an unending cycle that will come to a fast and unpleasant end someday.
  • Ditch-RunnerDitch-Runner Member Posts: 24,450 ✭✭✭✭
    edited November -1
    I read the headline and skipped thru the article . mixed feeling his money and good for all who just got a great gift hope they return the favor in there life . but as stated just another free ride to some if not most of the class .
    about every year some local will pay out all the layaway's at wall-mart for Christmas ( two towns about 30 miles apart and random which one each year
    about 10 ? years ago my nephew had put a lot of electronic games and so on for his kids mostly to keep it out of the house and better chance the kids would not find out any way he was one who got paid out I know it was over 500.00 just his .
  • JimmyJackJimmyJack Member Posts: 5,385 ✭✭✭✭
    edited November -1
    I tend to agree with Mark C and Smitty.
  • gruntled2gruntled2 Member Posts: 560 ✭✭✭
    edited November -1
    droptop wrote:
    The availability of student loans to almost ANYONE is (IMHO) the primary reason tuition fees have gone through the roof. The Colleges are laughing all the way to the bank.

    University gets more money, students borrow more, university charges more, students borrow more, an unending cycle that will come to a fast and unpleasant end someday.
    Same for health care. The cost of anything will rise to absorb the available funds. The more money you throw to "fix" a problem the more it will cost.
  • mnrivrat48mnrivrat48 Member Posts: 1,711 ✭✭
    edited November -1
    If I recall correctly it was Elizabeth Warren who suggested on her campaign trail that the government forgive 50% of all student loans. With student loans at $1 Trillion that would be a nice little gift from taxpayers to students. She would spend all sorts of your money to get elected.
    Probably got that idea from smoking peyote at some pow wow.
  • select-fireselect-fire Member Posts: 69,453 ✭✭✭✭
    edited November -1
    Just wait till the socialist take charge..they will pay for everything, housing, gas, automobile, utilities, health care,eats, just like you do for your pets.. however they will set the guildlines for everything. You might live in a tent, and have a moped to get around, with a box of bandaids to repair wounds, eating bare minimums to stay alive. No money for you , you work 12 hours a day 7 days a week for the govt.
  • spasmcreekspasmcreek Member Posts: 37,724 ✭✭✭
    edited November -1
    one town giving away a basic income to people who are poor, one school doing away with excellence awards, everyone gets a blue fibbon for "participating", classes of people are "special".....what a load of bull hockey......half of america on the dole.....the few left working are bled to death with taxes given to the lazy, inept, leeches ....and our govt lets people live and freely come in that want to destroy this country ...and advetise that fact to get elected to a congress of shame.......
  • Sam06Sam06 Member Posts: 21,254 ✭✭✭✭
    edited November -1
    Speaking of student loans I have a funny story.

    I was going through the drive through at Bojangles I had ordered a sausage and biscuit with a sweet tea. As I was paying through the window there was a hugely fat bl*ck girl taking my money. Well she was talking to a fellow worker and she said she had to start paying back her student loans :shock:

    What went through my head is; she should ask for a refund if the best job she could get was in a fast food joint.

    Too many people think a degree is going to land them a job, some would be better served learning a trade, like welding or pipe fitting, carpentry or even mechanic.
    I have a friend whose son worked at a dealership. The dealership offered to send him to Mechanics school and buy his tools. He turned them down, quit and took a job with a landscaping company leaning on a shovel..........what an idiot.


    As far as paying off the loans for everybody at Morehouse, have at it. I could type what I feel but it would upset some folks so I will just bite my typing finger
    RLTW

  • US Military GuyUS Military Guy Member Posts: 3,617 ✭✭✭✭
    edited November -1
    I wonder how those folks that pay off other people's debts would react, if they just gave the people the money instead

    - and then watched them spend it on almost anything (and everything) except paying off their debts. :lol:
  • spasmcreekspasmcreek Member Posts: 37,724 ✭✭✭
    edited November -1
    i believe the reason we have this HUGE pile of student loan debt is because these BUMS have learned it is easier to not pay and sit back and whine to get the debt cancelled......another big failure on the AMERICAN educationa and responsibility learning curve
  • BobJudyBobJudy Member Posts: 6,445 ✭✭✭✭
    edited November -1
    spasmcreek wrote:
    i believe the reason we have this HUGE pile of student loan debt is because these BUMS have learned it is easier to not pay and sit back and whine to get the debt cancelled......another big failure on the AMERICAN educationa and responsibility learning curve

    I think you nailed it. Bob
  • gruntled2gruntled2 Member Posts: 560 ✭✭✭
    edited November -1
    Sam06 wrote:

    I was going through the drive through at Bojangles I had ordered a sausage and biscuit with a sweet tea. As I was paying through the window there was a hugely fat bl*ck girl taking my money. Well she was talking to a fellow worker and she said she had to start paying back her student loans :shock:

    What went through my head is; she should ask for a refund if the best job she could get was in a fast food joint.

    Why are you so sure she got a degree? A LOT of people have massive student debt & never graduated.
  • Mr. PerfectMr. Perfect Member, Moderator Posts: 66,184 ******
    edited November -1
    Wrangler wrote:
    Just saw a story of a billionaire that is going to pay off the student loan debt for the 2019 Class of Morehouse College. We had a story in the local paper about a lady that paid off all of the owed monies at a local public school for school lunches. This does not teach these students and their parents any financial responsibility. If you incur a debt, you are responsible for it. These kids are going to think someone will always bail them out of debt. What makes me even more mad are the people that enable this thought process of debt will just go away somehow. :roll:

    Maybe just let people do nice things, ya know?
    Some will die in hot pursuit
    And fiery auto crashes
    Some will die in hot pursuit
    While sifting through my ashes
    Some will fall in love with life
    And drink it from a fountain
    That is pouring like an avalanche
    Coming down the mountain
  • Don McManusDon McManus Member Posts: 23,460 ✭✭✭✭
    edited November -1
    Wrangler wrote:
    Just saw a story of a billionaire that is going to pay off the student loan debt for the 2019 Class of Morehouse College. We had a story in the local paper about a lady that paid off all of the owed monies at a local public school for school lunches. This does not teach these students and their parents any financial responsibility. If you incur a debt, you are responsible for it. These kids are going to think someone will always bail them out of debt. What makes me even more mad are the people that enable this thought process of debt will just go away somehow. :roll:

    Maybe.

    One would think that many, probably most, are extremely grateful, and realize the rarity of such a wonderful thing.
    Freedom and a submissive populace cannot co-exist.

    Brad Steele
  • WearyTravelerWearyTraveler Member Posts: 2,006 ✭✭✭
    edited November -1
    I?ve no problem with some rich person doing a good deed and paying off an entire class? student debt. That teaches people to be generous. And that?s not a bad thing.

    Where I disagree is in debt forgiveness because you incurred a boatload of student debt for your Greek studies degree. Get a non paying degree and tough tootie, you owe. Or if you rack up 10k of credit card debt and don?t want the credit card company to ?fool you into thinking that you have to pay it all back.? THAT teaches people to be irresponsible. And that is a bad thing.
    ”People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."
    - GEORGE ORWELL -
  • Sam06Sam06 Member Posts: 21,254 ✭✭✭✭
    edited November -1
    gruntled2 wrote:
    Sam06 wrote:

    I was going through the drive through at Bojangles I had ordered a sausage and biscuit with a sweet tea. As I was paying through the window there was a hugely fat bl*ck girl taking my money. Well she was talking to a fellow worker and she said she had to start paying back her student loans :shock:

    What went through my head is; she should ask for a refund if the best job she could get was in a fast food joint.

    Why are you so sure she got a degree? A LOT of people have massive student debt & never graduated.

    Your right. I made the assumption that if you are going to take out a loan to go to school you would finish school. My mistake I was applying my mentality to the situation.
    RLTW

  • WearyTravelerWearyTraveler Member Posts: 2,006 ✭✭✭
    edited November -1
    Sam06 wrote:
    My mistake I was applying my mentality to the situation.
    That?s where you / we are making a mistake. We apply our mentality to the situation. Most on this group are older, more responsible adults. If we were the ones with debt we wouldn?t be looking for forgiveness. We?d be too busy paying out debt.

    To them, it?s Ok not to pay what they owe. Totally different mentality.
    ”People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."
    - GEORGE ORWELL -
  • He DogHe Dog Member Posts: 50,947 ✭✭✭✭
    edited November -1
    I am not sure it is my job to teach anyone anything. Beyond that what you think of what I do with my money is of little concern to me. I do know that the cost of education has risen astronomically and the next financial crisis is likely to be a couple of generations defaulting on crushing student loan debt. Three cheers for the guy from here.
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