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Let's turn our backs on our European roots by discarding things like poetry and philosophy.
Agreed. We have a housing shortage in the United States. We need home builders, not poets. Democrats answer has been to import those workers from Mexico and Central America. Importing more people is not the answer, especially considering the fact that they will need additional housing and resources as well. Taking care of our own is the right response. Give them the skills to do the jobs that need to be done today. Americans are coming to realize this, and they are rejecting the democrats so called solutions to the issues facing this nation today.
For every issue a democrat claims to have solved, 3 more problems arise, and usually they are far worse than the original problem solved. The less democrats get away with doing, the better off America is. The student loan problem is a prime example of democrats creating problems where there were none. They have pretended that higher education is a necessity when it is not. Now, they want all of us to fork over the money to pay for this modern age entitlement. Absolute insanity, but that's the democratic party for ya.
I went to a community college right out of high school and my parents helped me out. When I went back to earn my BA nearly 10 years later I worked part time during school and full time plus during the school breaks and I paid my way without going into debt.
The Left is of course pandering to their voters and telling them that they will be getting free stuff is a great way to get a vote. The problem is of course is who will be paying for all these handouts.
What I don't understand is that the Dems see student loan debt as a "national emergency" and they want to hand out $37,000 as a one time payment to help those that are saddled with this debt BUT they don't see that the crisis at the border being a "national emergency"?
So a one time payment of $37,000 can be a national emergency but stopping the hordes where one of those "migrants" coming across the border that will cost America $37,000 per year for the rest of their life is not a national emergency?
The Democrats sure are great at spending other peoples money.
You cannot collect on a piece of paper. You can collect on assets like real estate, automobiles, and other real assets. This is why ordinary bankruptcy doesn't and shouldn't apply for student loans.
The fairest way to solve this problem is by educating prospective students about what they are signing up for, instead of brainwashing them into believing they have to go to college, or else. The current system is basically a predatory scam and ponzi scheme. Eventually, a whole lot of people are bound to get hurt, because it's not managed responsibly or ethically. Fix the problem, not the unproductive debt created by the problem.
What does that even mean, you can't collect on a piece of paper? I'm sure there are people who don't have assets that declare bankruptcy, in fact that's probably WHY they declare bankruptcy. As I understand it, anyway. So why should student loans be different from any other debt? The fact that they're not, by legislation, tells me that both legislators and lenders, knew that student loans were worthless in many cases.
What does that even mean, you can't collect on a piece of paper? I'm sure there are people who don't have assets that declare bankruptcy, in fact that's probably WHY they declare bankruptcy. As I understand it, anyway. So why should student loans be different from any other debt? The fact that they're not, by legislation, tells me that both legislators and lenders, knew that student loans were worthless in many cases.
If someone loans money for you to go to college, and you fail to pay them back, that college education is worthless to them. They have no hope of recovering on their losses if someone declares bankruptcy. If someone fails to pay their mortgage, the bank can foreclose on their home. Massive difference. If you allow every student who can't pay their debt to declare bankruptcy, the risk would be far too high for lenders, and the costs of borrowing would rise substantially for prospective students. You would end up punishing everyone for the recklessness of a few.
The closest example would be medical care, which does often lead to bankruptcy. But the difference there is, no one wants to deny people life saving medical procedures when we can, as a nation, provide these things. College education is not a necessity though, so there is still quite a bit of difference.
What does that even mean, you can't collect on a piece of paper? I'm sure there are people who don't have assets that declare bankruptcy, in fact that's probably WHY they declare bankruptcy. As I understand it, anyway. So why should student loans be different from any other debt? The fact that they're not, by legislation, tells me that both legislators and lenders, knew that student loans were worthless in many cases.
They're different from other forms of debt because they are not secured by collateral. If you stop paying your mortgage, the bank takes your house. If you stop paying your student loans, they can't extract your brain and put it to work elsewhere.
Because there is no collateral to repossess, the loans are not dischargeable in bankruptcy. The loan has no value beyond the future labor of the debtor.
Also, bankruptcy is a liquidity problem, not a wealth problem. You can have millions in assets and go bankrupt, at which point some of those assets are repossessed.
The situation of having no wealth is called being broke, not being bankrupt.
So I put off having fun/buying home/replacing cars/taking vacations/having kids to pay off my loans.
THEN I get hit with higher taxes so other people don't have to pay their loans.
If someone loans money for you to go to college, and you fail to pay them back, that college education is worthless to them. They have no hope of recovering on their losses if someone declares bankruptcy. If someone fails to pay their mortgage, the bank can foreclose on their home. Massive difference. If you allow every student who can't pay their debt to declare bankruptcy, the risk would be far too high for lenders, and the costs of borrowing would rise substantially for prospective students. You would end up punishing everyone for the recklessness of a few.
The closest example would be medical care, which does often lead to bankruptcy. But the difference there is, no one wants to deny people life saving medical procedures when we can, as a nation, provide these things. College education is not a necessity though, so there is still quite a bit of difference.
No, I understand that banks can foreclose on a house, and that auto lenders can repossess a car. But as I understand it, people can discharge credit card and other unsecured debt in a bankruptcy. So if that's the case, students should be allowed to discharge their student loans, too. But the law says they can't. Why is that? I don't think it has to do with a piece of paper.
Seriously, the students aren't the only ones who need a good lesson here. The lenders desperately need one, too. Making those loans dischargeable would teach that lesson to both sides.
How is that fair to the people who have taken out student loans and have paid them back? This big push to have EVERYONE attend college is a large part of the problem. Many are not college material and drop out, but still have outstanding loans.
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