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Just goes to show-yet again- if you are a loser and don’t honor your word and debt, you get a bail out. I feel so disgusted and depressed when I think about how we have never had a late bill, foreclosed, did a short sale, paid our loans. You start to feel like an utter fool for doing what’s right. The takers and scammers come out on top.
You aren’t necessarily a “loser, taker or scammer” if you have a short sale.
We went through a short sale when my husband lost 90% of his income and his industry crashed in 2008. We had to demonstrate to the mortgage holder our inability to pay our mortgage. It was like being forensically audited. It was very difficult and we had to prove why we were in that situation. It was 7 years before we could buy another home.
When we did, we have never missed another mortgage payment and God willing we never will.
The short sale system exists because of unforeseen circumstances that affect good buyers. You should be grateful you were never in those circumstances.
Mid term pandering. And perpetuating Big College because by advocating third party payment in any form perpetuates tuition inflation.
I'd rather see that money used to investigate actual fraud in big education and the student loan business.
The public education system fails the student/borrower because they don't teach one of the simplest lessons in life-Signing a contract is a voluntary OBLIGATION. Big education sells dreams not reality or practicality.
Student loans were not always voluntary. For a while now there's been coercion on single mothers to sign up for the loans to pay for the college expenses that the Pell grants don't cover. Welfare reform gave single mothers who are unemployable the choice of going to college to meet the requirements or get cut off and go deeper into devastation. Employers discriminate against single mothers who have trouble with child care and people who have health problems. For single mothers who have health problems it's about impossible to ever be gainfully employed. For those people the welfare reform requirements were unfunded mandates.
Just goes to show-yet again- if you are a loser and don’t honor your word and debt, you get a bail out. I feel so disgusted and depressed when I think about how we have never had a late bill, foreclosed, did a short sale, paid our loans. You start to feel like an utter fool for doing what’s right. The takers and scammers come out on top.
It's like the kid in the back of the classroom who never does a lick of work, but somehow gets passed on to the next grade each year. It is particularly hurtful to people who work hard and try to be good "citizens".
The student loan thing hits close to home: daughter and husband with probably a half million in loans. Burns my a$$ that they act like these loans are just going to vanish, and for no contribution to society's overall well being, they will take a gift approaching what a lot of people make in half a lifetime just for whining.
Makes me sick. Disgusted.
But let me tell you, MissMyCountry, i was put in a position once in my life where i had to cash in my goodwill. I had to play the "i have always been a good person; never welched on a loan or any obligation--monetary or societal. It paid off in spades having that good will in the bank.
Screw these people who would steal our money. Karma is hell. They will have to live with what they have done (and the KNOW what they are doing) for the rest of their lives. Never will they be able to say "I did the right thing".
As for politicians, sure, they will play this for votes. Hell, remember Jon Corzine (wall street crook)? He literally paid for votes in cash in NJ and got elected governor.
Student Loan Forgiveness = Massive transfer of Wealth from Working Class Americans to over-educated white progressives and the Neo-Marxist college indoctrination machine
This nails it.
Biden is desperate to shore up his base.
But as many gender studies majors and SJWs he enthuses over this - he is set to lose twice as many.
Only a third of workers have college degrees.
So all this is going to do is tick off the rest of the electorate even more than before - like sticking your head in a hornet's nest after you already thrashed it multiple times.
And then after the mid-terms the courts will strike it down anyway.
But hey. This is Biden's only play. It's all he's got.
We're seeing the last death throes of an "Administration" (*cough* stolen election *cough*) that is barely over a year old.
Location: In a perfect world winter does not exist
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Remember when he was going to compensate illegal immigrants who were separated at the border 450k EACH. I swear Biden is not for the American people. He literally hates America.
If employers are refusing to employ you and the only options are student loans to go to college or to be cut off everything for noncompliance and endure more financial devastation then you are taking out the loans under duress.
It's not much different than people who had the choice of taking a shot or not being able to provide for themselves because they were fired for not getting the shot. It's the same coercion.
The more you contemplate this the more insane it becomes.
Even if Comrade Biden forgives all federal student debt right now - then what?
The debt burden doesn't dissipate. It is transferred to the broad tax base.
Meanwhile, college costs continue to be exorbitant because the Feds took over the system and guaranteed the loans.
Diagnosis: There is no down side for Colleges/Universities to continue raising costs because they are promised payback by the tax payers.
Prescription: Shift away from this socialist system, and move to a more private based system where the tax payers are not collateral, and level of risk matters to the institution.
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