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That's one of the reasons I oppose taxpayer-funded debt dismissal. It's just not right to ask low-income taxpayers (including those who didn't go to college) t

That's one of the reasons I oppose taxpayer-funded debt dismissal. It's just not right to ask low-income taxpayers (including those who didn't go to college) to pay off the debts of those who did go-- and have a higher earnings potential. It's also a great dis-service to those who have paid into Social Security for decades and now face a looming shortfall. Those people actually paid in and are going to have to deal with a benefit reduction, while the student borrowers took out and may potentially have their debts funded by the same taxpayers!

lapcat 4y ago
> It's just not right to ask low-income taxpayers (including those who didn't go to college) Low-income people don't actually pay much taxes. In fact their primary tax payment may be the fixed-rate Social Security FICA that you mention, not the progressive income taxes after deductions and credits. Moreover, what about the low-income student who have to go into debt to go to school, while the rich kids have their parents pay for everything? This is my point in relation to the article: who can afford to even get a PhD nowadays except the kids of financially well-off parents? That's one of the reason richer kids are coming to dominate academia. > a higher earnings potential My point is that the difference between actual and potential is the difference between a comfortable life and a lifetime of debt that may follow you to old age and death. There's basically no return whatsoever on your investment if you spend years in a PhD program but don't finish. It's all money down the drain. Meanwhile, graduate students are exploited by universities for very cheap teaching labor.
- slt2021 4y ago
  this is not true. PhD coursework qualifies for Masters degree. Almost all PhD dropouts (on 1-2 year) - dropout with masters degree and a very nice industry job offer in hand.
  - lapcat 4y ago
    Which industry? The English literature industry? The history industry? The philosophy industry?
    - slt2021 4y ago
      phd students from low income background are not doing eng lit/hist/phil phd, never seen one. It is mostly people from affluent backgrounds who go there. but I have seen more than enough econ phd dropouts who left academia with MS in Econ and a finance industry job offer. same for most of the engineering PhDs.
      - lapcat 4y ago
        "It is mostly people from affluent backgrounds who go there." This is the whole point of the article, "People from elite backgrounds increasingly dominate academia"! What do you mean by low income though? There's low income and there's affluent, but there's also the big middle class between those two.

lapcat 4y ago

> It's just not right to ask low-income taxpayers (including those who didn't go to college) Low-income people don't actually pay much taxes. In fact their primary tax payment may be the fixed-rate Social Security FICA that you mention, not the progressive income taxes after deductions and credits. Moreover, what about the low-income student who have to go into debt to go to school, while the rich kids have their parents pay for everything? This is my point in relation to the article: who can afford to even get a PhD nowadays except the kids of financially well-off parents? That's one of the reason richer kids are coming to dominate academia. > a higher earnings potential My point is that the difference between actual and potential is the difference between a comfortable life and a lifetime of debt that may follow you to old age and death. There's basically no return whatsoever on your investment if you spend years in a PhD program but don't finish. It's all money down the drain. Meanwhile, graduate students are exploited by universities for very cheap teaching labor.

slt2021 4y ago
this is not true. PhD coursework qualifies for Masters degree. Almost all PhD dropouts (on 1-2 year) - dropout with masters degree and a very nice industry job offer in hand.
- lapcat 4y ago
  Which industry? The English literature industry? The history industry? The philosophy industry?
  - slt2021 4y ago
    phd students from low income background are not doing eng lit/hist/phil phd, never seen one. It is mostly people from affluent backgrounds who go there. but I have seen more than enough econ phd dropouts who left academia with MS in Econ and a finance industry job offer. same for most of the engineering PhDs.
    - lapcat 4y ago
      "It is mostly people from affluent backgrounds who go there." This is the whole point of the article, "People from elite backgrounds increasingly dominate academia"! What do you mean by low income though? There's low income and there's affluent, but there's also the big middle class between those two.