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Just another reason “student loan bailout/forgiveness” is a NO
So, you're okay with losers who run up thousands of dollars in credit card debt and file BK?
Hell, Trump has filed BK plenty of times.
The argument for not forgiving student loans is "but, they cannot give the education back like those people who were bailed out in the housing crisis and gave their houses back."
Which is stupid because plenty of conservatives were making "strategic defaults" and filing BK back during the housing crisis on very expensive homes, living in them for a year or two with no payments, socking away huge amounts of income and dividends, then leaving the house and going right out to pay cash for another house.
Those who didn't do that were filing BK and having HUGE debts charged off, only to be out there within a couple of years getting more credit cards, buying new houses at lower prices due to the crash, and making bank.
Yet, we look at students as the evil ones in this country. Yeah... that makes sense.
There will always be a given number of people who game ANY system.
But, that's not the majority of people, so let's just blame everyone.
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I have an uncle that actually never finished a degree and he almost never went to class consistently... He borrowed the money to have a lifestyle and paying it back now and regrets it...
I think a pretty strong case could be made that many college students graduate (or not) knowing even less than when they went in.
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Originally Posted by RedZin
So, you're okay with losers who run up thousands of dollars in credit card debt and file BK?
Hell, Trump has filed BK plenty of times.
The argument for not forgiving student loans is "but, they cannot give the education back like those people who were bailed out in the housing crisis and gave their houses back."
Which is stupid because plenty of conservatives were making "strategic defaults" and filing BK back during the housing crisis on very expensive homes, living in them for a year or two with no payments, socking away huge amounts of income and dividends, then leaving the house and going right out to pay cash for another house.
Those who didn't do that were filing BK and having HUGE debts charged off, only to be out there within a couple of years getting more credit cards, buying new houses at lower prices due to the crash, and making bank.
Yet, we look at students as the evil ones in this country. Yeah... that makes sense.
There will always be a given number of people who game ANY system.
But, that's not the majority of people, so let's just blame everyone.
Why is it the students are blamed and not the banks who saw this as a way to lend money the government would lean on people to pay back and garnish wages to get for them?
Why not blame it on colleges for charging ridiculous prices for tuition when our society damned near requires a degree for something, even if it's being an auto mechanic?
Why are college students, most of whom began borrowing when they were barely legal adults, the ones who get badmouthed?
Our country sucks sometimes. It really does.
Anyone taking out massive student loans now must have been raised by wolves. The best thing that ever happened for the tax payer is that you can't BK loans now and people have to live with the consequences.
But I agree, our Country can suck, especially the crappy parents that allow their kids to be part of the ponzi scheme. The ones that should have known better.
People need to understand they aren't ENTITLED to go to any school they want to.
I work with people that have over 100 grand in SL debt making the same money as me (computer programmer). Their degree isn't even in computers. Some took over 15 years to pay it off, it's like a second mortgage.
So, you're okay with losers who run up thousands of dollars in credit card debt and file BK?
Hell, Trump has filed BK plenty of times.
The argument for not forgiving student loans is "but, they cannot give the education back like those people who were bailed out in the housing crisis and gave their houses back."
Which is stupid because plenty of conservatives were making "strategic defaults" and filing BK back during the housing crisis on very expensive homes, living in them for a year or two with no payments, socking away huge amounts of income and dividends, then leaving the house and going right out to pay cash for another house.
Those who didn't do that were filing BK and having HUGE debts charged off, only to be out there within a couple of years getting more credit cards, buying new houses at lower prices due to the crash, and making bank.
Yet, we look at students as the evil ones in this country. Yeah... that makes sense.
There will always be a given number of people who game ANY system.
But, that's not the majority of people, so let's just blame everyone.
You can't declare bankruptcy on student loans. Private loans yes. Trump is making another bubble and he isn't realizing it.
This might just be the end of those $200,000 gender studies degrees ..
—-
Washington (CNN) — The Trump administration urged Congress Monday to put a cap on student loan borrowing, one of several proposals for updating the Higher Education Act.
"We want to encourage responsible borrowing," said a senior administration official on a call with reporters.
Some research suggests that unlimited borrowing may encourage colleges to drive up the price of tuition.
Yeah, time to tie providing loans to the degree and qualifications of persons applying. My brother in law ran u- $200K in student loans but he got a degree in Orthodontia and paid back his loan.
Why is it the students are blamed and not the banks who saw this as a way to lend money the government would lean on people to pay back and garnish wages to get for them?
Why not blame it on colleges for charging ridiculous prices for tuition when our society damned near requires a degree for something, even if it's being an auto mechanic?
Why are college students, most of whom began borrowing when they were barely legal adults, the ones who get badmouthed?
For every story like this one, there are dozens of stories about people who used that money for school and for expenses related to school because they could not afford to attend college WITHOUT loans.
This is especially true for young, single mothers... largely out there trying to better themselves so they can get good jobs and take care of their kids.
Damned if they do and damned if they don't, but don't let them try to get an abortion because they're damned then, too.
People basically suck.
I was from a lower middle class family. Despite scholarships, I could not have attended school without loans. I am a physician now and repaid my loans within three years after training.
Student loans are critical for middle class and lower income students. I do think it would be wise for the lenders to first ask the borrower their desired degree and the job market for that degree. If the job acquired after achieving the degree would preclude paying it back, then perhaps the student loan should be denied.
Like any loan, a responsible lender needs some collateral and a plan from the borrower defining how they plan to repay the loan.
This might just be the end of those $200,000 gender studies degrees .[/url]
I often wonder why young college students aren't being counseled about the amount of the loans they are taking out and what it will mean in their lives to repay all that. Some 18 year olds are simply unaware of how and why a starter salary isn't enough to begin repaying these amounts of money. Assuming they even get a job right out of college. It's all so sad.
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basically suck.
