College Student sob story on $321,000 student loans in luxury home with lavish kitchen

[1AngryTaxPayer]

Parent FAIL.

[remco67]

Originally Posted by Redraven

If the loan is "forgiven", I think she should have to claim that amount as INCOME, and pay state and Federal taxes on it.
Remember TANSTAAFL? (thank you, Robert A. Heinlein)
There Ain't No Such Thing As A Free Lunch!

Of
Actually thats what already happens now if your student loans are forgiven it counts as Income. Of course then you just file for hardship to the IRS. Although they are not very forgiving.

[Weichert]

Med school is very expensive. Many doctors have huge school loans by the time they graduate. Nothing unusual.

[Mircea]

Originally Posted by lovecrowds

She goes on about how demanding everything is in her videos, yet gets pregnant during her studies.

Luxury home with gourmet kitchen, vacations, can afford to have children and then goes on her $335,000 student loan debt.

The easiest and most effective solution is to end government backing of student loans.

Once tax-payers stop reimbursing banks for losses on student loans, the student loans will be treated just like any other uncollateralized or unsecure loan.

Banks would only allow students to borrow enough to cover tuition, instead of tuition plus breast and butt-implants, liposuction, botox, Spring Break at Cancun, new cars and the like.

Since nearly all students are too young to have a credit history worthy of large loans, the banks will require parents as co-signors on the loans. The parents, too, will put downward pressure on the loan amounts, so that a student borrows $10,000 to pay for $10,000 in tuition, instead of borrowing $30,000 for $10,000 in tuition and going on a spending spree with the other $20,000, which is exactly what's been going on for the last 20 years.

[tickyul]

Oh well, live in a dumpy room and eat cheaply for a few years, then you can easily pay off your loans.