December 26, 2019

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Comments 1-8 of 8

  • Larry Glass

    12/28/2019 11:06 AM

    A plausible approach, especially when including grandparents, as the baby boomers are more likely to afford the withdrawals.

  • Michael Stevens

    12/27/2019 11:00 AM

    Whatever the solution it cannot be one that imposes tax on others to pay for some else's college degree. I graduated high school in 1979. The economy was worse than its ever been since. There was double digit inflation, unemployment and interest rates and when I say double digits I mean the high teens like 18%. A farmer's son, I watched my mom & dad run up huge losses for several years in a row during that period not by adding an acre or a new piece of equipment to the farm but by simply coming up short doing what they do for a living. I'd have liked to gone to college but I rightfully could not fathom how I could pay for student loans at that exorbitant rate of interest and I could not dare ask my b=urdened parents for help therefore I made a decision I've had to live with. I could not go to college. Instead I got a job working in the oilfields. Now its been 40 years since and I've had to move to where the works at more times than I can count but I've made it through without need for a Govt. hand out so far. I've married twice to women that had a child from a previous relationship, deadbeat dads, and I've raised their sons as my own plus two children in each marriage we had together. Although mostly due to absences that are part and parcel with an oilfield lifestyle neither marriage lasted but I've never defaulted on my responsibilities to those 6 chidden and their mothers and remained involved to ensure they grow up to be responsible tax paying citizens. I'm saying all this because life is a series of choices. No one is entitled to anything so choose wisely. Don't expect someone that made the judgement that he could not afford college today for the student loans of someone who did. And while your at it how about putting a bit more focus on the schools and why their cost has outstripped that of inflation by such a large margin. Compare the price of a gallon of gas in 1979 and 2019 then compare that to the cost to attend a major university over the same 40 years. You can do the same with anything produced on a farm. Maybe instead of all the other suggestions take a look at the proceeds the schools receive from the broadcasting of televised NCAA sports.

  • Maureen Plumb

    12/27/2019 06:23 AM

    Many lower-income families do not have a 401K. Why would a parent want to drain their retirement account to pay off their child's student loans? That should be the students' responsibilities. Unfortunately, many students can not get a full loan unless the parents take out a student assist type of loan. My thoughts are LOWER the price of college so that students can get an education at a reasonable price. These professors are overpaid. The universities are overpaid.

  • Ernest Cantrell

    12/26/2019 06:12 PM

    With whose retirement savings?

  • Gloria Kindon

    12/26/2019 01:38 PM

    Hell NO!! We paid our own college debts and so did our kids! Go get a job and pay it off!! If you can't afford to go to college/university don't go!!!

  • Barbara S Layden-Tabor

    12/26/2019 12:46 PM

    This is ludicrous! This of us who budgeted to pay privilege debts feel robbed. Too many young people were advised to borrow the limit and now expect the taxpayers who saved for retirement to pay their debt! Take it out of the Congress retirement fund and see how far that idea goes! There is no real solution to this problem!

  • Amelia Little

    12/26/2019 11:47 AM

    That's all well and good--I have no pony in this parade as I paid off my student loans 45 years ago and my children chose not to indebt themselves forever and a day by going to college (with no assurance of getting a job in the chosen field.) I'd like to hear what Dave Ramsey would say about this kind of move. The upside of this is--the student and possibly parents and grandparents are the ones involved in this proposal, and it doesn't come after MY retirement savings to "help" out.

    And, I do hope, while all this scrambling to lessen the oppressive debt of the current masses in deep debt, that someone somewhere is working on reducing ludicrous tuition costs in the first place. Mike Rowe and I suppose a few others are emphasizing that not everyone has to go to college, let alone a "prestigious" institution where you get the same degree as a state college--just at an even more enormous cost to brag about the name. And, of course, for those who are looking for financial security, trade schools are an excellent option with career opportunities that pay probably as much as a newly minted lawyer. The cost to attend is a fraction of that of college.

  • Sheryl Phebus

    12/26/2019 11:45 AM

    Whose Retirement Savings??? Keep your mitts out of our 401k retirement plans!!! No borrowing! That is why Social Security has no money because you politicians can’t stand to see money sit. It’s NOT YOUR MONEY! I went to college and I paid my loan off. I had to work while I was going to college and had to pinch pennies. It took me 15 years but I paid it ALL off. I had to do without a lot in my younger years so that I would be better off in later years.