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Forgiving student loan debt makes no sense and there's no need for it.
You are right. There is a difference between forgiving a debt and allowing someone to
get rid of debt via a bankruptcy court. The latter has been exempted for student loans,
and that is wrong.
What certain things could this doctor not do? I can't afford a yacht but that doesn't hold me back in life.
With high debt, one cannot be in a lower paying field, such as pediatrics, internal medicine, or family practice. One is compelled to seek a higher paying specialty field which will allow one to pay off debt.
That's taxpayer money already spent to send you through school.
Discharging it or forgiving it just moves that debt to the taxpayer.
That's borrowed money that has to be paid back.
Where do you think you got that money to begin with ?
The money is just paper and ink the feds print. It didn't actually cost anyone anything except a few cents to print it.
You are right. There is a difference between forgiving a debt and allowing someone to
get rid of debt via a bankruptcy court. The latter has been exempted for student loans,
and that is wrong.
Bankruptcy has been exempted for student loans for good reason. That reason is due to the structure of student loans.
I am all for adding the bankruptcy option back to the student loans, but they would need to be restructured.
1. Dischargeable student loans will have to be funded by private institutions rather than the government (similar to all other dischargeable loans.
2. Dischargeable student loans should only be given to those with stellar credit and income (similar to all other dischargeable loans).
3. Dischargeable student loans should have payments due immediately (similar to all other dischargeable loans).
4. Dischargeable student loans may consider merit and be awarded to only well performing students.
I fully expect this "bail out" to be the next one.
Student loans are simply another bubble waiting to pop. Know how many people are taking on huge student loan debt and living at home doing nothing while attending a 3 hour a week online training class at a online university?
I fully expect this "bail out" to be the next one.
Student loans are simply another bubble waiting to pop. Know how many people are taking on huge student loan debt and living at home doing nothing while attending a 3 hour a week online training class at a online university?
Its the latest scam. Get in while you can.
How are student loans a bubble? That makes no sense?
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