Forgive Student Loans?

#726
#726
loggervol said:
what needs to be cracked down on is percentage rates that are put on student loans. They're terrible, they're almost as bad as credit card % rates.
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Nope. What needs to change is that people that take out these loans are unable to discharge them in bankruptcy. Once that is gone, the loans will be issued based on the bank's risk assessment.... THEN if you still think it necessary, you can cap the interest rate although I don't personally like that idea. I do agree that credit card rates are usurious.
 
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#727
#727
SpaceCoastVol said:
Nope. What needs to change is that people that take out these loans are unable to discharge them in bankruptcy. .
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It was my understanding that was already the case.

That's what makes them attractive to banks: no matter how much the borrower screws up their life, the loan still comes due.
 
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#728
#728
SpaceCoastVol said:
Less than 40% of Americans have a college degree.

How Many Americans Have a College Degree? | BestColleges

The majority of student loan holders have somewhere between $10K and $40K of loan debt. With a college degree, I am trying to understand why this is such a burden. Is it that many of these college degrees aren't worth the paper they are written on?

How Many Americans Have Student Loan Debt? - NerdWallet
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What percentage have/had a car loan greater than their student loan?
 
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#732
#732
AshG said:
It was my understanding that was already the case.

That's what makes them attractive to banks: no matter how much the borrower screws up their life, the loan still comes due.
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I didn't say that very well.. What needs to change is that people need to be able to discharge them in bankruptcy. As it stands now, those loans are like herpes.
 
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#733
#733
Wireless1 said:
What percentage have/had a car loan greater than their student loan?
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Good question. I saw a guy the other day that has a loan on a Dodge Challenger that he said is killing him and he can't sell the car for anything within $20K of what he paid for it. Student loans... bad... $70K car loans.... some special kind of stupid.
 
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#734
#734
BreatheUT said:
A little bit of news on student loans and the labor shortage.

The student loan waiver will expire soon. Employers should seize the chance to attract millennial talent

Here’s who qualifies for the $25B in student loan forgiveness already approved | The Hill
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I'm not sure it will necessarily expire on August 31 without another extension; I suspect at least some substantial portion will be forgiven before that happens. There's never really going to be a great time to drop thousands in monthly bills back on people IMO
 
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#735
#735
NashVol11 said:
I'm not sure it will necessarily expire on August 31 without another extension; I suspect at least some substantial portion will be forgiven before that happens. There's never really going to be a great time to drop thousands in monthly bills back on people IMO
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Thousands? What?
 
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#736
#736
NashVol11 said:
I'm not sure it will necessarily expire on August 31 without another extension; I suspect at least some substantial portion will be forgiven before that happens. There's never really going to be a great time to drop thousands in monthly bills back on people IMO
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Yeah it's not like that obligation was still there or anything like that....
 
#737
#737
NashVol11 said:
I'm not sure it will necessarily expire on August 31 without another extension; I suspect at least some substantial portion will be forgiven before that happens. There's never really going to be a great time to drop thousands in monthly bills back on people IMO
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Looks like this is all DOE loans, and will not impact private approved lenders by the DOE (the Sallie Mae's of the world if they still have the portfolio). With that I'm going ahead and continuing payments on my private loans with those lenders.
 
#739
#739
StarRaider said:
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This makes my BP go up...not good.

The gall on display here is astonishing. A few weeks ago, we learned that Representative Alexandria Ocasio-Cortez — who makes $174,000 per year and drives a Tesla — wants you to pay off the $17,000 she still owes in student debt. Now we learn that there are several AOCs within striking distance of the Oval Office. There’s a word for this sort of thing: Corruption.
 
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#740
#740
Orangeburst said:
This makes my BP go up...not good.

The gall on display here is astonishing. A few weeks ago, we learned that Representative Alexandria Ocasio-Cortez — who makes $174,000 per year and drives a Tesla — wants you to pay off the $17,000 she still owes in student debt. Now we learn that there are several AOCs within striking distance of the Oval Office. There’s a word for this sort of thing: Corruption.
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I will start putting those NSFOB warnings when I post sir.
 
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#745
#745
SpaceCoastVol said:
And I don't care. They took out the loan... they can pay it back, I don't care if it takes the rest of their life.
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One could watch any sorts for shows from our age group from years ago....from Andy Griffith onward. Lessons of Life.

Stand up or man up and stop expecting anyone or everyone to bail one out of ones poor decisions. Accountability and responsibility matter.

This applies in almost everything we see on any topic..Not my fault
 
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#750
#750
NashVol11 said:
I'm not sure it will necessarily expire on August 31 without another extension; I suspect at least some substantial portion will be forgiven before that happens. There's never really going to be a great time to drop thousands in monthly bills back on people IMO
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Now is the best time ever.
 
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