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Everyone says this. No one demands it get paid back. Not now, not then.
That never ever happens without an end to the Fed.
The artificially low interest rates are a bail out. Nobody is demanding that end. Wall Street pitches a fit every time it is even alluded to.
I and many others have been saying it for a decade
I want interest rates back up....I still remember when passbook savings would get 5.25%....
unfortunately the fed has been around since 1913.... unless there is a revolution I don't think it will be going anywhere
the people of the USA are tired of the bailouts... bailouts by bush...bailouts by obozo....bailouts by trump.....and I believe it would have been worse with Hillary....
chew on this for a second... the fed bailed out the financial sector...yet allowed one of its own (Lehman bros, an original bank of the FED) to fail in support of another......this selective bailouts needs to end...QE needs to end....all bailouts need to end...if you FAIL to produce, sorry Charlie.... no more bailouts
hundreds if not thousands of businesses fail every year....why didn't the "all powerful" government bail out those small businesses ???
correct..... GM did not pay us back.... and how did they return the favor... they opened up an assembly plant in Mexico
bailouts are not helping anyone.... we need to stop the bullschite
Great, but since it's not going to happen, I support the "little guy" getting a part of it. (Besides, my plan would both pay for it and get some of our money back)
What caused them to write the article was a long-economic report on cancelling student debt from an extremely expensive liberal arts university in New York.
Supposedly, if the federal government just canceled the $1.4 trillion in outstanding debt that cause GDP to rise, unemployment to go down hundreds of thousands of new jobs yearly.
I think it is odd how many these students spent nearly a decade running up bills going to a four-year and university and graduate school, while enjoying luxury dorms and chef-prepared expensive meals plus took out lots of loans for living expenses for many years and now they want it canceled because they can't the home of their dreams or they can't afford every new top of the line phone or electric car that comes out.
I wouldn't be surprised if the Democrats jump on that bandwagon for votes, especially because it might increase voter participation rates for one of their choice demographics that tends to vote for them by wide margins.
I "enjoyed" living with my parent and buying groceries. I also enjoyed a lot of University incompetence in handling a discrimination situation that delayed my graduation for years despite having a 4.0 GPA (undergrad through grad school), causing me to go into crushing debt. Now recovering from that situation, I can look forward to not having any money left over after my student loan payments and in spite of having a somewhat higher paying science job. And I chose the program based on the fact that it was the least expensive one available. I decision that I regret because you get what you pay for.
There are a variety of complications that can come with what is the equivalent of financing a house with no tangible asset when you graduate, other than the ability to work for a slightly higher wage. Its just debt that can't be discharged. It provides an opportunity for historically unprecedented social advancement for a strata of society, but when it goes wrong it really goes wrong. The system needs to be refined if not rethought.
I wonder why the New York Times never mentioned H.R. 4584, the Student Security Act of 2017, introduced on December 7, 2017, by Representative Tom Garret, which provides individuals with the option of partial student loan forgiveness in exchange for voluntarily raising key eligibility ages for Social Security Benefits.
For each $550 of Student Loan debt forgiven, the individual adds one month to their early retirement age and one month to their full retirement age, up to a maximum of $40,000.
If an individual wanted $20,000 of Student Loan debt forgiven, they wouldn't be able to take early retirement until age 65 with reduced rates, and they would have to wait until age 70 to receive full retirement benefits.
I wonder why the New York Times never mentioned H.R. 4584, the Student Security Act of 2017, introduced on December 7, 2017, by Representative Tom Garret, which provides individuals with the option of partial student loan forgiveness in exchange for voluntarily raising key eligibility ages for Social Security Benefits.
For each $550 of Student Loan debt forgiven, the individual adds one month to their early retirement age and one month to their full retirement age, up to a maximum of $40,000.
If an individual wanted $20,000 of Student Loan debt forgiven, they wouldn't be able to take early retirement until age 65 with reduced rates, and they would have to wait until age 70 to receive full retirement benefits.
Sounds like a fair trade-off. I'd even be willing to up the ante to $1000 per month.
On the surface it does sound good. I'd do it if I had college debt. SS may not be there in 40 years anyway. Sacrificing something in the future one may not get anyway.
If the government adopts this plan (forgiving government loans and buying out private loans if I read correctly), then the government should stop thereafter get out of the student loan game permanently. Otherwise there’s no point, and these education institutions will continue to have artificially inflated tuitions.
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