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Old 06-25-2019, 07:13 AM
 
29,745 posts, read 16,439,768 times
Reputation: 13823

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Stiff the state, default on the loans, hand the politicians their hats after you have **** in them. In no way should politicians be involved in anyones education.
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Old 06-25-2019, 07:14 AM
Status: "The nicest curve on a woman's body is her smile" (set 18 days ago)
 
Location: Florida/Tennessee
2,423 posts, read 4,311,104 times
Reputation: 1289
This is the political version of selling elixirs.
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Old 06-25-2019, 07:21 AM
 
5,154 posts, read 2,756,655 times
Reputation: 9446
Such a disaster of a policy this is! In fact most people in favor of it have no understanding of financial markets nor the reality of the situation. We have an entire educational system propped up by the use of Federally Subsidized/guaranteed Loans. The problem is not the debt it is the educational institutations and the irrational students attending them.

In an era where you can take 85% of your classes remotely on the equivalent of youtube in your PJs the cost of education should be diminishing. Instead Colleges/Universities are building $1B football stadiums, paying Presidents/staff crazy salaries, and building shrink like buildings to show how great they are. This is all being paid by students in the form of debt then backed by the federal government to lenders.

The deal with Uncollateralized loans or loans that have no assets supporting the value of the debt is that they are “risky” in nature. Now extend that to young college students with no credit history and little to no income and you have a pool of disastrously risky loans that make the mortgage/housing crisis look like nothing. Now these kids are asking for $60k-$100k in loans for a bachelors in business or communications. There is no underlying value of these classes for the lender to recoup so they need this guarantee to not of absolving the debt through bankruptcy to keep rates in low single digits. If you take this away then the student loans will start to hit credit card like APRs to adjust for risk.

The problem in all of this are the educational institutions and their unchecked irresponsibility in managing budgets. This is the problem to be solved!
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Old 06-25-2019, 07:27 AM
 
1,884 posts, read 1,319,130 times
Reputation: 2060
Its like a whole thread of Russian bots hanging out. Awesome. You all had no problem with the trillion dollar tax giveaway to corporations paid for with your children's futures right?

I do not agree that all debt should be wiped out but do agree something should be done. The loans should be interest free, or nearly interest free, like they were for my parents.
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Old 06-25-2019, 07:36 AM
 
Location: Divided Tribes of America
13,707 posts, read 5,522,224 times
Reputation: 5383
$700 billion bailouts for big banks: no problem!

Helping individuals with crushing student loan debt: it’s an outrage!

I thought that the Right claimed to support individuals rather than “the collective” (ie institutions and organizations).
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Old 06-25-2019, 07:44 AM
 
5,154 posts, read 2,756,655 times
Reputation: 9446
Those were equally bad but don’t deflect the topic at hand with a separate unrelated issue.

Greedy banks do not equal greedy irrational educational institutions.
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Old 06-25-2019, 07:45 AM
 
26,677 posts, read 9,072,282 times
Reputation: 9299
Bernie is in the Klondike selling Cranium Cariboo to the Grizzly Bear Cubs !!!

He knows what they don't break they crap on, but he needs them to vote !!! Its a job !!!
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Old 06-25-2019, 07:45 AM
 
66,501 posts, read 30,325,536 times
Reputation: 8670
Quote:
Originally Posted by Freak80 View Post
$700 billion bailouts for big banks: no problem!


Helping individuals with crushing student loan debt: it’s an outrage!
Perhaps you should be better informed. ...

Quote:
The State of the Bailout

OUTFLOWS: $632 billion This includes money that has actually been spent, invested, or loaned.

INFLOWS: $740 billion Money returned and paid to Treasury as interest, dividends, fees or to repurchase their stock warrants.

...the government has realized a $107B profit as of Feb. 25, 2019.
https://projects.propublica.org/bailout/

How is the Fed Gov going to earn a profit on student loan debt when that debt is no longer owed?
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Old 06-25-2019, 07:48 AM
 
29,745 posts, read 16,439,768 times
Reputation: 13823
How many would seek a degree in gender studies or some other equally valueless discipline if not for politicians funding them with stolen loot? The govt isn't selling education, its selling servitude.
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Old 06-25-2019, 07:58 AM
 
Location: Texas
26,720 posts, read 11,216,955 times
Reputation: 6150
A lefty trying to buy votes through handouts. Gee go figure.
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