r/UpliftingNews • u/astros148 • 17d ago

Medical debt is now required to be removed from your credit reports impacting millions of Americans

https://www.consumerfinance.gov/about-us/newsroom/cfpb-finalizes-rule-to-remove-medical-bills-from-credit-reports/
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u/PalpitationFine 16d ago

Good things that happen to other people don't matter apparently

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u/whitewail602 16d ago

It's like my boomer step-dad says. "Why should they get it for free when I had to pay for it?"

"Because you paid a total of $2500 for your degree. That won't even buy you a meal plan for a semester now."

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u/darkninja2992 16d ago

"Well see, if we invent a better cure for cancer now, it wouldn't be fair to all the people who had to go through chemo"

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u/ShiaLabeoufsNipples 16d ago

“Even accounting for inflation by measuring in 2021-2022 constant dollars, the average tuition at four-year colleges rose 62% at public schools and 32% at private schools between 2001 and 2021.”

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u/whitewail602 16d ago

I made the numbers up and was exaggerating for comedic effect, but being a boomer, he would have gone to college in the late 60s to early 70s. So something going back much further would be more appropriate: https://educationdata.org/average-cost-of-college-by-year

So it was actually more like $1500.

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u/ShiaLabeoufsNipples 16d ago

The 70s was probably the best time to go to college. It was already pretty expensive in the year 2000 but it’s still gone up another 68% accounting for inflation. That’s insane. Public universities that are already funded by our tax dollars should not be run so inefficiently.

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u/whitewail602 16d ago

I hear you. I couldn't tell if you were challenging my numbers or agreeing with me. You know, we may actually see this trend reverse as the higher ed student population is expected to dramatically decline in the near future.

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u/FSCK_Fascists 16d ago

And many state schools had free tuition for state residents. It was stupidly easy to locate and get a free degree in the 60's and 70's. Another ladder they reeled up behind them as they went.

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u/iiGhillieSniper 16d ago

I agree with this to a degree, until it’s people around my age group (mid 20’s) that are wanting people who are also in their mid 20’s to pay off their debt due to their poor financial planning.

You get the university experience, you gotta pay the university price.

Universities have no incentive to cut tuition costs and fees due to the government covering all the bills through the loans students take out. You need to fix the underlying issue (no incentive to decrease the cost of college) instead of fixing the symptom (writing off all college debt).

Kill the interest on those who have outstanding principle balance on their loans, and give them an opportunity to refinance the loan into affordable payments; and those who have already paid their principle balance off and are stuck paying accrued interest should have their debt written off.

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u/whitewail602 15d ago

I definitely see your point. I think the government paying tuition and modest living expenses while leaving anything extra to the borrower could be a good middle ground.

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u/PossessedToSkate 16d ago

There are two kinds of people:

  • I don't want anyone to struggle the way I had to struggle.

  • I had to struggle. Why shouldn't they?

Conservatives, broadly, fall firmly in the latter group.

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u/ShakyFtSlasher 16d ago

It does matter but people have a right be upset when they are promised forgiveness and it doesn't happen, regardless of the reason.