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Sallie Mae was turned into a private company (but most people still thought it was a part of the government, so "trusted" it, I know I did when I took out my loans) then the company lobbied congress many ways, up and down (Newt Gingrich is a famous "non" lobbyist for the company), to fundamentally change the student loan industry and the laws in congress governing student loan borrowing. The executives raked in the dough!
So now, student loans cannot be discharged in bankruptcy and the lenders have made a financial killing on fees and late payments, so it was more profitable to have a defaulted loan than to have a person legitimately paying it off!! So of course companies would do a lot of things to nudge a borrower into default (many times they don't have to do much because of course young people don't understand what the consequences of default and late payments are). We were scammed for years, we ARE being scammed for our money, our children are being scammed. The lenders hand in hand with congress manufactured this "bubble" all to get richer (sounds waaaaay too familiar), so yes they need to forgive these loans and start fresh, but also pass sensible laws governing them.
The same people who rail against government intrusion, also look down on young people and shame them, as if the deck has not been stacked against them from the get-go! The student loan industry and lobbyists worked behind the scenes to change the laws in their favor, not the students, they USED students to line their pockets. Where is the anger against THAT!?!?!?!?!?!?
They arranged it, she signed on the dotted line. Does she not know how to read? This is still her fault....she was not held at gunpoint. Her screwup was being ignorant. We shouldn't further subsidize her poor decision-making skills with a bailout.
Sallie Mae was turned into a private company (but most people still thought it was a part of the government, so "trusted" it, I know I did when I took out my loans) then the company lobbied congress many ways, up and down (Newt Gingrich is a famous "non" lobbyist for the company), to fundamentally change the student loan industry and the laws in congress governing student loan borrowing. The executives raked in the dough!
So now, student loans cannot be discharged in bankruptcy and the lenders have made a financial killing on fees and late payments, so it was more profitable to have a defaulted loan than to have a person legitimately paying it off!! So of course companies would do a lot of things to nudge a borrower into default (many times they don't have to do much because of course young people don't understand what the consequences of default and late payments are). We were scammed for years, we ARE being scammed for our money, our children are being scammed. The lenders hand in hand with congress manufactured this "bubble" all to get richer (sounds waaaaay too familiar), so yes they need to forgive these loans and start fresh, but also pass sensible laws governing them.
The same people who rail against government intrusion, also look down on young people and shame them, as if the deck has not been stacked against them from the get-go! The student loan industry and lobbyists worked behind the scenes to change the laws in their favor, not the students, they USED students to line their pockets. Where is the anger against THAT!?!?!?!?!?!?
Not singling you out.....but.....Were you forced to sign a Promissory Note? Did you complete your general ed credits at a community college? Did you apply for scholarships? Did you work during college? Did you do internships?
Basically, if you didn't do all of these things, then you didn't take the most responsible path to a college education. I'm not singling you out personally, i'm just saying that everything can't be blamed on "the system." The student retains control of the decisions made, including the acceptance of the cost of college.
I really think in some way that student loan forgiveness would help the economy. I have many friends and family that are not buying cars, houses, investing, etc because they have a $500 monthly student loan payment. Many are still living at home. If all that was gone, I'm sure they will find lots to spend their money on. These people are not deadbeats but they simply know they cannot go out and afford anything with this noose around their neck for the next 10+ years.
At the very least, student loans should be gone with bankruptcy.
You couldn't resist keeping Mitt Romney out of a discussion on student loan forgiveness legislation? You have a real hatred for successful people don't you?
Romney is perfectly relevant to this discussion. With his background and connections he's probably gotten ten times the breaks of the average American. That's largely the reason he has a lot of money. The fact that he has so much he basically does not know what to do with it is not really a reason to call him successful. He's basically just a greedy SOB who wants to add enormous power to his enormous pile of stuff. I wonder what Mr. I Paid Half the Tax Rate of Many Americans thinks about this issue seeing as he's the de facto Republican nominee. Unless you think the Reps should not be brought into a discussion of public policy?
Y'know you have a point in the OP. I even sort of agree that it's not a good idea and on some level unfair to people like myself who have paid off our student loans. The problem is that you buried it with a stupid rant about liberals and abortion and all your other obsessions.
Can you ever start a thread without bringing your thoughts about my uterus or your ludicrous notions about personal responsibility into the OP? I'm almost tempted to dare you.
Romney is perfectly relevant to this discussion. With his background and connections he's probably gotten ten times the breaks of the average American. That's largely the reason he has a lot of money. The fact that he has so much he basically does not know what to do with it is not really a reason to call him successful. He's basically just a greedy SOB who wants to add enormous power to his enormous pile of stuff. I wonder what Mr. I Paid Half the Tax Rate of Many Americans thinks about this issue seeing as he's the de facto Republican nominee. Unless you think the Reps should not be brought into a discussion of public policy?
Y'know you have a point in the OP. I even sort of agree that it's not a good idea and on some level unfair to people like myself who have paid off our student loans. The problem is that you buried it with a stupid rant about liberals and abortion and all your other obsessions.
Can you ever start a thread without bringing your thoughts about my uterus or your ludicrous notions about personal responsibility into the OP? I'm almost tempted to dare you.
I didn't bury anything with "abortion" and "liberals." I made a very pointed response to a poster on this forum whom has shown sheer displeasure for personal responsbility. I was calling him out. Not you, not anyone else. And I certainly didn't derail the thread as you seeem to assert I did.
I didn't bury anything with "abortion" and "liberals." I made a very pointed response to a poster on this forum whom has shown sheer displeasure for personal responsbility. I was calling him out. Not you, not anyone else. And I certainly didn't derail the thread as you seeem to assert I did.
Most of your posts here are thoughtless rantings about liberals and abortion that sound like nothing more than a Fox News regurgitation complete with spittle. It is almost impossible to take you seriously so I don't know why I'm even trying.
Why don't you spend a day or two without using the word liberal or abortion? Really. My uterus might even thank you.
I really think in some way that student loan forgiveness would help the economy. I have many friends and family that are not buying cars, houses, investing, etc because they have a $500 monthly student loan payment. Many are still living at home. If all that was gone, I'm sure they will find lots to spend their money on. These people are not deadbeats but they simply know they cannot go out and afford anything with this noose around their neck for the next 10+ years.
At the very least, student loans should be gone with bankruptcy.
Yes, it probably would help the economy. But I don't think it's prudent to make decisions that remove personal responsibility from the equation just because the nation itself is in an economic downturn.
Most of your posts here are thoughtless rantings about liberals and abortion that sound like nothing more than a Fox News regurgitation complete with spittle. It is almost impossible to take you seriously so I don't know why I'm even trying.
Why don't you spend a day or two without using the word liberal or abortion? Really. My uterus might even thank you.
I don't watch Fox News....and what you deem "thoughtless rantings" are actually social issues that America is concerned about. Just because you don't like the issues, doesn't make them "thoughtless ranting." It might make you uncomfortable, but that doesn't mean i'll apologize for it.
You speak of lots of "pushing" things on college kids. Who's doing the pushing? What are they pushing? I've never had anything pushed on me that I wasn't able to deflect using my own good judgement and common sense. Are you suggesting that college students aren't smart enough to do their own calculations about their own future?
people in general follow others, what kim K wears today will be worn by millions of women tomorrow, not too many leaders out there, everyone follows everyone else.
Alot of people get into a certain field because of the money and not the love of the job, society is just corrupted plain and simple.
Erase student loans and lets people spend on the goods, I'm sorry but people will do them and not care about the whining coming from the left or the right, they could care less.
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