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Posted: 4/23/2019 8:56:25 AM EDT
[#1]
If we can get student loan debt to be eliminated by filling bankruptcy again we will eliminate many problems at once. I can't believe Trump hasn't pushed to have this done yet.
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Posted: 4/23/2019 8:58:35 AM EDT
[#2]
Quote HistoryQuoted:
Bull 
Jesus dude.... does your neck ever get sore from sticking your head in the sand? |
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Posted: 4/23/2019 9:00:37 AM EDT
[#3]
Quote HistoryQuoted:
If we can get student loan debt to be eliminated by filling bankruptcy again we will eliminate many problems at once. I can't believe Trump hasn't pushed to have this done yet. |
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Posted: 4/23/2019 9:05:54 AM EDT
[#4]
Is AoC going to come out and condemn this? If she really believes the whole world ending in 12 years stuff then this is a colossal waste of money that could have gone towards funding her new green deal.
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Posted: 4/23/2019 9:15:43 AM EDT
[#5]
Going forward:
Existing loans get interest rates dropped to 2%, retroactively. Balances reduced to reflect this. Those who paid high interest/ paid them off get a check. They all remain non dischargable in BK. It’s not fair to lenders to change from not dischargable to dischargable. It’s also not fair to charge 5-8%+ interest on loans that are basically ironclad. Reduction of balances and most money going to principal will help get the loans repaid faster and the government won’t lose money since we are only talking about interest. Not reducing principal (adjusted for inflation). These will be the last government loans. hopefully this will cause them to get paid faster and expedite the government getting out of student loans Going forward all new loans are private. All will be dischargable. Interest capped at 36% by regulation. |
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Posted: 4/23/2019 9:19:01 AM EDT
[#6]
My wife and I saved for 25 years in preparation for funding my 4 kids education. They all graduated (one more to go) debt free. I also flat-out told my kids....if you get some dumb-fucking degree that won’t help you earn.......you can do that at home and go to CC.
Fuck this bitch straight to hell. Spit. |
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Posted: 4/23/2019 9:23:10 AM EDT
[#7]
Quote HistoryQuoted: If you got the government out of the student loan business and made lenders do a proper risk assessment on their potential clients then your second bullet would take care of itself as nobody would make loans for stupid bullshit. As usual, the solution is actually less government rather than more of the same government that screwed it up in the first place. And, I take a slightly different approach to the issue. If applied properly, offering student loans is a net benefit to .gov over time. I borrowed a *lot* from them back in the day, quintupled my earning potential in the process, paid the loans back with interest, and currently pay more taxes annually than I grossed beforehand. I'm not at all sure I would have had that opportunity with an all-private lender market. Now, I also did my due diligence and picked schools that I knew I could afford, both in terms of total indebtedness vs income, and within the borrowing limits in place at that time. I placed a cap of 1 year's gross salary on my total indebtedness, with the idea that (worst case) I would pay 10% of my gross salary for 10 years to pay them off, which was a very manageable burden. I did it in 6 years, and could have done it in 3-4 if I really buckled down. The .gov has benefited twice from this, both from the loan interest and over my career in the form of increased tax revenue. Win/win for them and me. If a school wants to offer a Studies program, fine. Better be able to offer it within an indexed price structure the student can complete, so they can afford to pay it back while working at Hot Topic afterward. If not, prepare to either offer those programs at a net loss or shut them down. |
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Posted: 4/23/2019 9:24:54 AM EDT
[#8]
Quote HistoryQuoted: It really is that simple. Lenders need skin in the game... if they did, nobody would loan huge amounts of money for useless degrees and the problem would solve itself. |
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Posted: 4/23/2019 9:46:09 AM EDT
[#9]
Quote HistoryQuoted:
Going forward: Existing loans get interest rates dropped to 2%, retroactively. Balances reduced to reflect this. Those who paid high interest/ paid them off get a check. They all remain non dischargable in BK. It’s not fair to lenders to change from not dischargable to dischargable. It’s also not fair to charge 5-8%+ interest on loans that are basically ironclad. Reduction of balances and most money going to principal will help get the loans repaid faster and the government won’t lose money since we are only talking about interest. Not reducing principal (adjusted for inflation). These will be the last government loans. hopefully this will cause them to get paid faster and expedite the government getting out of student loans Going forward all new loans are private. All will be dischargable. Interest capped at 36% by regulation. 
And mandating interest rates?
I swear, some people just love "more government" and can't wait to use it to fix government caused problems. 
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Posted: 4/23/2019 9:49:40 AM EDT
[#10]
Quote HistoryQuoted:
Ideally, yes. That'll never happen though, so a solution that's feasible will require some practical evaluation of ROI for the lender (.gov), which is totally absent to date. And, I take a slightly different approach to the issue. If applied properly, offering student loans is a net benefit to .gov over time. I borrowed a *lot* from them back in the day, quintupled my earning potential in the process, paid the loans back with interest, and currently pay more taxes annually than I grossed beforehand. I'm not at all sure I would have had that opportunity with an all-private lender market. Now, I also did my due diligence and picked schools that I knew I could afford, both in terms of total indebtedness vs income, and within the borrowing limits in place at that time. I placed a cap of 1 year's gross salary on my total indebtedness, with the idea that (worst case) I would pay 10% of my gross salary for 10 years to pay them off, which was a very manageable burden. I did it in 6 years, and could have done it in 3-4 if I really buckled down. The .gov has benefited twice from this, both from the loan interest and over my career in the form of increased tax revenue. Win/win for them and me. If a school wants to offer a Studies program, fine. Better be able to offer it within an indexed price structure the student can complete, so they can afford to pay it back while working at Hot Topic afterward. If not, prepare to either offer those programs at a net loss or shut them down. Quote HistoryQuoted:
Quoted: If you got the government out of the student loan business and made lenders do a proper risk assessment on their potential clients then your second bullet would take care of itself as nobody would make loans for stupid bullshit. As usual, the solution is actually less government rather than more of the same government that screwed it up in the first place. And, I take a slightly different approach to the issue. If applied properly, offering student loans is a net benefit to .gov over time. I borrowed a *lot* from them back in the day, quintupled my earning potential in the process, paid the loans back with interest, and currently pay more taxes annually than I grossed beforehand. I'm not at all sure I would have had that opportunity with an all-private lender market. Now, I also did my due diligence and picked schools that I knew I could afford, both in terms of total indebtedness vs income, and within the borrowing limits in place at that time. I placed a cap of 1 year's gross salary on my total indebtedness, with the idea that (worst case) I would pay 10% of my gross salary for 10 years to pay them off, which was a very manageable burden. I did it in 6 years, and could have done it in 3-4 if I really buckled down. The .gov has benefited twice from this, both from the loan interest and over my career in the form of increased tax revenue. Win/win for them and me. If a school wants to offer a Studies program, fine. Better be able to offer it within an indexed price structure the student can complete, so they can afford to pay it back while working at Hot Topic afterward. If not, prepare to either offer those programs at a net loss or shut them down. |
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Posted: 4/23/2019 9:53:20 AM EDT
[#11]
As usual democrats represent and reward those who fail.
Great way to run a country.
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Posted: 4/23/2019 9:56:17 AM EDT
[#12]
Quote HistoryQuoted:
As usual democrats represent and reward those who fail. Great way to run a country. |
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Posted: 4/23/2019 10:21:26 AM EDT
[#13]
Quote HistoryQuoted:
Going forward: Existing loans get interest rates dropped to 2%, retroactively. Balances reduced to reflect this. Those who paid high interest/ paid them off get a check. They all remain non dischargable in BK. It's not fair to lenders to change from not dischargable to dischargable. It's also not fair to charge 5-8%+ interest on loans that are basically ironclad. Reduction of balances and most money going to principal will help get the loans repaid faster and the government won't lose money since we are only talking about interest. Not reducing principal (adjusted for inflation). These will be the last government loans. hopefully this will cause them to get paid faster and expedite the government getting out of student loans Going forward all new loans are private. All will be dischargable. Interest capped at 36% by regulation.
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Posted: 4/23/2019 10:28:32 AM EDT
[#14]
Quote HistoryQuoted:
That is what I expect a heteronormative cisgendered white male shitlord to say. Off to the re-education camps with you! Quote HistoryQuoted:
Quoted:
As usual democrats represent and reward those who fail. Great way to run a country. |
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Posted: 4/23/2019 10:35:17 AM EDT
[#15]
Quote HistoryQuoted:
I'm on Warrens side. 100% behind college debt forgiveness. She is just doing it wrong. Make it dischargeable in bankruptcy court. That's it. Can't get a decent job because you and your 100 feminist friends took "Femenist French Lesbian Poetry in the 18th Century"? No worries. File for BK. Trash your credit like you should. Then watch as colleges no longer have women's studies, or swahili, or any other underwater basket weaving degrees. You guys need to play the long game. |
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Posted: 4/23/2019 10:56:30 AM EDT
[#16]
Quote HistoryQuoted: You have too much faith in the benevolence of a new wing of the Department of Education that would determine the max government loans from the Bank of Government (which for the life of me I can't find as a power in the Constitution) in a fair and scientific basis. If there's not enough evidence by now to show that it will be corrupted and used for political ends there never will be. I agree with .gov backed student loans not being dischargeable through bankruptcy. Choose wisely before doing business with the Mafia, and make sure you have a solid plan to pay them back. Pulling back on loan limits would effectively put higher education on a diet. Ironically, the single source nature of today's student loan market gives them stupendous leverage, if they'd only use it. |
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Posted: 4/23/2019 11:01:46 AM EDT
[#17]
Quote HistoryQuoted:
Liberals are fucking assholes! Are you black? We'll give you money (reperations) just vote for me. Are you in college? We'll give you money just vote for me What's next? Thinking about chopping your dick off to become a woman? We'll give you money just vote for me. |
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Posted: 4/23/2019 11:11:26 AM EDT
[#18]
...and watch as tuition suddenly doubles since students will not have to pay it back. Frankly, if they are going to forgive student debt, they should force the schools to kick in $1 to the U.S. Treasury for every dollar forgiven.
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Posted: 4/23/2019 11:12:53 AM EDT
[#19]
So, that would mean that $640 billion would be freed up to be spent in the economy...
Will that generate more income in taxes for the .gov than what people are paying in interest? This is starting to make sense to me... |
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Posted: 4/23/2019 11:20:38 AM EDT
[#20]
Quote HistoryQuoted:
If we can get student loan debt to be eliminated by filling bankruptcy again we will eliminate many problems at once. I can't believe Trump hasn't pushed to have this done yet. With that, what stops me from going through 8yrs of school to become a doctor, taking out loan after loan to finance the tuition and living expenses, then once graduating, file bankruptcy? Sure there's a short-term hit to my credit but now Im a debt free doctor making bank. |
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Posted: 4/23/2019 11:21:43 AM EDT
[#21]
That estimate is low by 50%
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Posted: 4/23/2019 11:30:09 AM EDT
[#22]
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Posted: 4/23/2019 11:51:48 AM EDT
[#23]
Quote HistoryQuoted:
So, that would mean that $640 billion would be freed up to be spent in the economy... Will that generate more income in taxes for the .gov than what people are paying in interest? This is starting to make sense to me... Mind you it'd only be a one time cost of about another $15T in debt, but that doesn't seem to be a bother already. Forward! |
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Posted: 4/23/2019 12:04:55 PM EDT
[#24]
Change BK laws and let everyone sort it out
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Posted: 4/23/2019 12:22:29 PM EDT
[#25]
Quote HistoryQuoted:
Mind you it'd only be a one time cost of about another $15T in debt, but that doesn't seem to be a bother already. Forward! 
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Posted: 4/23/2019 12:44:05 PM EDT
[#26]
Free corn the butcher shouts. Trust me! All you hogs have to do is vote for me on the way into the open hog pen gate to eat free corn.
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Posted: 4/23/2019 2:21:29 PM EDT
[#27]
Fiscal responsibility is for suckers.
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Posted: 4/23/2019 3:37:18 PM EDT
[#28]
Quote HistoryQuoted:
I think we should just defund leftist universities entirely. Declare the college debt crisis an illegal scam and charge universities with educational discrimination, lol. Burn it to the ground. |
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Posted: 4/23/2019 3:41:14 PM EDT
[#29]
Quite liberal and generous when it’s other people’s money.
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Posted: 4/23/2019 4:59:41 PM EDT
[#30]
Quote HistoryQuoted:
Change BK laws and let everyone sort it out |
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Posted: 4/23/2019 5:05:53 PM EDT
[#31]
The sorriest motherfuckers from across America will stand in long lines to vote for their free shit. The Republican party (and America) is doomed.
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Posted: 4/23/2019 5:08:11 PM EDT
[#32]
Fuck that! I finally finished paying mine off last year.
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Posted: 4/23/2019 5:11:33 PM EDT
[#33]
If I already paid mine off do I just get a check or.....
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Posted: 4/23/2019 5:38:37 PM EDT
[#34]
Bailing out loans does nothing to fix the root issue...colleges being run by the incompetent left.
Overcharging, unbridled spending, employing mentally ill professors with nothing of value to offer students for future employment, offering pensions for all who work for them, free tuition for all non whites (so whites pay more and go into deep debt), courses in retarded subjects that will never lead to employment....on and on... Fix those and the 'debt problem' goes away, turn back the clock to pre-1965 when a bright student gets into college via good academics and can work part time washing dishes after school to pay for med school and leave college debt free. How was that possible before? Just like MSM reforms are needed...academia reforms are needed due to the left's corruption. |
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Posted: 4/23/2019 5:46:53 PM EDT
[#35]
Quote HistoryQuoted:
Bailing out loans does nothing to fix the root issue...colleges being run by the incompetent left. There are smart ways and stupid ways to go to college. There are many smart ways, like the guy here who said his kid was gonna do CC part-time to get an Associates in Accounting while working part-time at a book-keeping office, then transfer to a state school (which will have to accept the CC credits) for two years to get the BA or BS in Accounting while working part-time. BOOM: Graduate in 5 years with 5 years of realistic work experience in that field, college costs are cut in half or more. There's one sure-fire stupid way to go to college: Rack up massive student loans to live on campus for four years getting a degree with zero analysis of whether that degree leads to a job that makes the degree worth it. |
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Posted: 4/23/2019 5:56:23 PM EDT
[#36]
Fuck no.
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