Forgive Student Loans?

#127
#127
85SugarVol said:
AOC makes $174,000 a year (plus all the perks)

I paid off my Undergrad & Business school loans long before I hit six figures.
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There are certain character traits with people like AOC that I'm surprised you overlook. She's a socialist.
 
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#128
#128
[QUOTE="volfanhill, post: 20871309, member: 39626"]It's one of many reason I laugh when they bash Biden for inflation. You don't think the lasts guys policies caused this too? It's nuts. Two peas in a very similar pod.[/QUOTE]

Both parties are to blame for the original hemorrhaging of dollars. The republicans should have never, ever went along with it....Trump included. A lot of nearly bankrupt dem ran cities used COVID money to get back in the green....won't last long with them though. The only difference is that Republicans are wanting to block any more big spending (thank God), and that Brandon is very unfriendly towards the energy industry, which raised energy prices, which makes EVERYTHING go up in cost. High energy prices spell recession in the future. I am also sure that we can easily afford to take care of all these losers and their children that are flowing unchecked across our border. More poor people! Yeah that's what we need here!!!
 
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#129
#129
volfanhill said:
We spend significantly more then any country in the world on it. It's not even close. They don't need more. They need to learn how to better spend what they have and hold contractors accountable for their performance
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I dont deny that. Trump audited the Pentagon, but DC is a beast. I supported the Tea Party, quite a big group at the time, and look what happened to that . They chew you up in just a campaign cycle or two.
You throw some wildly final conservative 3rd Party Executive in there and the beast will eat him or her alive.
 
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#133
#133
rjd970 said:
I get no candidate meets all ones litmus tests. But if you voted for Trump you at the very least didn’t put this high enough on your priority for a candidate.

Candidly though, I get it. None of them would have been really fiscally responsible in practice.

My opinion, third party libertarian was the best option because they at least don’t have the track record.

I just find it hard to swallow when people rail about this stuff but keep casting a vote for the same yahoos to do it all over again.
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I totally understand yawls point. Trump was a not a career DC pol and look how they chewed him up even as a 90's Dem type policy candidate. Where we are steaming towards today looks like insanity.
There are so many issues now ( I dont need to list them), that are so diametrically opposed that I just wish we had 90's DC back at this point.
 
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#134
#134
volfanhill said:
Individuals are allowed to file bankruptcy against their student loans just a like a car or house. It's ridiculous that they can't IMO
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I should have been more specific. My fault.

Yes - Student loans are not currently eligible for bankruptcy.

Tell me more about what that would look like. I should have said.

I think I like this idea.
 
#135
#135
volfanhill said:
Individuals are allowed to file bankruptcy against their student loans just a like a car or house. It's ridiculous that they can't IMO
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Fannie Mae and Freddie Mac can at least recover a tangible asset if you default on a conforming home loan. But if you default in your $100K debt for your ancient middle eastern basket weaving studies degree with a minor in Latin there is absolutely NOTHING worth value to recover. That is why this will never happen. But yes I agree with you if the debt was made extinguishable by bankruptcy then we’d see all of these stupid useless degrees or over priced degrees vanish over night.
 
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#136
#136
NorthDallas40 said:
Fannie Mae and Freddie Mac can at least recover a tangible asset if you default on a conforming home loan. But if you default in your $100K debt for your ancient middle eastern basket weaving studies degree with a minor in Latin there is absolutely NOTHING worth value to recover. That is why this will never happen. But yes I agree with you if the debt was made extinguishable by bankruptcy then we’d see all of these stupid useless degrees or over priced degrees vanish over night.
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I agree no tangible asset clearly here. However I don't think people walk Willy Nilly into bankruptcy. The bank may repo the car or house but often that's even more of headache for them. I think it's better then the system we have. People are at least held accountable for the loans they take and lenders would be more cautious
 
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#137
#137
norrislakevol said:
[QUOTE="volfanhill, post: 20871309, member: 39626"]It's one of many reason I laugh when they bash Biden for inflation. You don't think the lasts guys policies caused this too? It's nuts. Two peas in a very similar pod.
Click to expand...

Both parties are to blame for the original hemorrhaging of dollars. The republicans should have never, ever went along with it....Trump included. A lot of nearly bankrupt dem ran cities used COVID money to get back in the green....won't last long with them though. The only difference is that Republicans are wanting to block any more big spending (thank God), and that Brandon is very unfriendly towards the energy industry, which raised energy prices, which makes EVERYTHING go up in cost. High energy prices spell recession in the future. I am also sure that we can easily afford to take care of all these losers and their children that are flowing unchecked across our border. More poor people! Yeah that's what we need here!!![/QUOTE]

I was in Sams Club yesterday and most of the people in there are from other countries and were interacting in other languages.
 
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#138
#138
BreatheUT said:
Both parties are to blame for the original hemorrhaging of dollars. The republicans should have never, ever went along with it....Trump included. A lot of nearly bankrupt dem ran cities used COVID money to get back in the green....won't last long with them though. The only difference is that Republicans are wanting to block any more big spending (thank God), and that Brandon is very unfriendly towards the energy industry, which raised energy prices, which makes EVERYTHING go up in cost. High energy prices spell recession in the future. I am also sure that we can easily afford to take care of all these losers and their children that are flowing unchecked across our border. More poor people! Yeah that's what we need here!!!
Click to expand...

I was in Sams Club yesterday and most of the people in there are from other countries and were interacting in other languages.[/QUOTE]

Wonder how much government assistance a lot of these people are getting?
 
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#139
#139
NorthDallas40 said:
Fannie Mae and Freddie Mac can at least recover a tangible asset if you default on a conforming home loan. But if you default in your $100K debt for your ancient middle eastern basket weaving studies degree with a minor in Latin there is absolutely NOTHING worth value to recover. That is why this will never happen. But yes I agree with you if the debt was made extinguishable by bankruptcy then we’d see all of these stupid useless degrees or over priced degrees vanish over night.
Click to expand...

Does bankruptcy even matter when the Feds are involved? They change Fed loaning standards with the stroke of a pen. How else did the 2008 Depression occur?
 
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#140
#140
volfanhill said:
I agree no tangible asset clearly here. However I don't think people walk Willy Nilly into bankruptcy. The bank may repo the car or house but often that's even more of headache for them. I think it's better then the system we have. People are at least held accountable for the loans they take and lenders would be more cautious
Click to expand...
I think it should be extinguishable however I think you’re over estimating the cognitive ability of the nominal dumbass that takes on $100k in debt for a history degree with a minor in English. That’s all.
 
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#141
#141
rjd970 said:
I get no candidate meets all ones litmus tests. But if you voted for Trump you at the very least didn’t put this high enough on your priority for a candidate.

Candidly though, I get it. None of them would have been really fiscally responsible in practice.

My opinion, third party libertarian was the best option because they at least don’t have the track record.

I just find it hard to swallow when people rail about this stuff but keep casting a vote for the same yahoos to do it all over again.
Click to expand...

When the 3rd party libertarian can’t get to Election Day with support above single digits, what good is that vote?
 
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#142
#142
Orangeburst said:
Does bankruptcy even matter when the Feds are involved? They change Fed loaning standards with the stroke of a pen. How else did the 2008 Depression occur?
Click to expand...
Well… currently it isn’t even an option on student loan debt. But federally back home loans are extinguishable by bankruptcy
 
#143
#143
norrislakevol said:
I was in Sams Club yesterday and most of the people in there are from other countries and were interacting in other languages.
Click to expand...

Wonder how much government assistance a lot of these people are getting?[/QUOTE]

Why is every locally owned convenience store owned by a foreigner? They are more thrifty I am sure, but what else?
 
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#145
#145
NorthDallas40 said:
Well… currently it isn’t even an option on student loan debt. But federally back home loans are extinguishable by bankruptcy
Click to expand...

Let me ask this in regards to 2008. When one purchases a home, one is required to have mortgage insurance if not putting down at least 20% sale value. What happened to that insurance to prevent 2008? Never understood that.. yet people walked en mass
 
#146
#146
Wireless1 said:
I paid more than $100K for higher education for my children out of my pocket with no student loans. I will not vote for anyone who forgives student loans without some penalty. I'm for 0% interest refinancing as long as the payment term is 10 years or less.
Paying off the student loans are not about the students, its about making sure the lenders are made whole on their predatory lending.
How many of you did, or went to school with someone that took a year off to work, so they could pay for school?
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I agree. Some kind of penalty would need to be attached to it, not just a blanket removal of all debt.
 
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#147
#147
volfanhill said:
Why is every locally owned convenience store owned by a foreigner? They are more thrifty I am sure, but what else?
Click to expand...

Where did TJ get his money to buy the Texaco? Say $500K...he gets preferred minority financing, no collateral . No doubt in my mind.

Edit: This quotation stuff started with someone else. Rather funny atp
 
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#148
#148
hog88 said:
As a condition of forgiving student loans the government got out of guaranteeing student loans, I mean 100% out of it and left it up to private institutions I might be willing to listen. But to forgive the loans and continue the current practice of backing them with taxpayer money is a non-starter.
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These universities should be on the hook for some of this, also.
 
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#149
#149
Wireless1 said:
I paid more than $100K for higher education for my children out of my pocket with no student loans. I will not vote for anyone who forgives student loans without some penalty. I'm for 0% interest refinancing as long as the payment term is 10 years or less.
Paying off the student loans are not about the students, its about making sure the lenders are made whole on their predatory lending.
How many of you did, or went to school with someone that took a year off to work, so they could pay for school?
Click to expand...
Also, you need to ask yourself why in the world should college cost that much? That is an indication that the system is badly in need of reforming... or finding some other way.
 
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