Forgive Student Loans?

#151
#151
utvolpj said:
The debt is removed from the people. In the end it benefits both but it seems only one is an acceptable solution. Why is giving money directly to corps with no regular citizen involved or accountability preferable?

Pay it off and remove the govt
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Or dont pay off anything or anyone. Only way things will get better.

Giving away even more grift does nothing but reward bad behavior. We are going to have to go through some adjustments. The longer we put it off the worse it gets.

Never understood the straight whipe out of debt. Why not come up with some type of compromise. Half gets deleted, so the corps lose out, and the students actually have to pay back the half they still owe. Pain all around. No one happy, the people who made good decisions arent stuck with the check.
 
#152
#152
Orangeburst said:
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
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Not sure I’m following. Even during 2008 if you put down less than 20% you had to pay PMI. That was paid to the lender by private insurance companies. But if you were under the loan amount maximum (was like $450k in 2014. We weren’t under it then 😥) then the Feds backed your note generally on a confirming loan.
 
#153
#153
rjd970 said:
I worked two jobs, gave up a social life, and went to school full time to get my degree debt free. It is probably too much to assume I would get some back pay.

I’m a sucker I guess.
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Yeah no pay back, and now you get to pay for all the people who jacked off for four years and got some crap degree.
 
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#155
#155
NorthDallas40 said:
As long as he’s a tax payer, if tax dollars go to d2’s idiot family it’s absolutely his business. If d2 could handle his business then it would only be his business.
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D1 would have a right to be POd at his representatives and senators if the .gov forgave student debt but not at D2. It’s none of D1s business what D2 did with his money. Beside IMO it’s not a parents responsibility to pay for college.
 
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#156
#156
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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Not as long as the .gov is still backing them since the lender is still guaranteed their money. The key is to get rid of .gov backed student loans.
 
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#159
#159
hog88 said:
Not as long as the .gov is still backing them since the lender is still guaranteed their money. The key is to get rid of .gov backed student loans.
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Are you sure it’s a full guarantee? The property is lost and sold but the fed loan shops guarantee the offset? I mean… that is why PMI exists after all.
 
#160
#160
LouderVol said:
Or dont pay off anything or anyone. Only way things will get better.

Giving away even more grift does nothing but reward bad behavior. We are going to have to go through some adjustments. The longer we put it off the worse it gets.

Never understood the straight whipe out of debt. Why not come up with some type of compromise. Half gets deleted, so the corps lose out, and the students actually have to pay back the half they still owe. Pain all around. No one happy, the people who made good decisions arent stuck with the check.
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File bankruptcy and wipe out any remaining interest so that all you will ever owe is principle regardless of who the loan is serviced through. If you’ve already signed on to a plan to eliminate the balance of your loan after 10 years, you can’t bankrupt it at all unless you’ve lost your job or involuntarily left the work force.
 
#161
#161
hog88 said:
D1 would have a right to be POd at his representatives and senators if the .gov forgave student debt but not at D2. It’s none of D1s business what D2 did with his money. Beside IMO it’s not a parents responsibility to pay for college.
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I’ll agree on the last sentence. But if I wind up paying for some kids education that isn’t my own kid it better be a hot coed with mad skilz. See our current support animal discussion RE required skills.
 
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#162
#162
MG1968 said:
File bankruptcy and wipe out any remaining interest so that all you will ever owe is principle regardless of who the loan is serviced through. If you’ve already signed on to a plan to eliminate the balance of your loan after 10 years, you can’t bankrupt it at all unless you’ve lost your job or involuntarily left the work force.
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I would be willing to accept bankruptcy for student loans, as long as it comes with no forgiveness of the current crop.
 
#163
#163
MG1968 said:
File bankruptcy and wipe out any remaining interest so that all you will ever owe is principle regardless of who the loan is serviced through. If you’ve already signed on to a plan to eliminate the balance of your loan after 10 years, you can’t bankrupt it at all unless you’ve lost your job or involuntarily left the work force.
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Gotta admit I like the approach. Screw the lender out of profit for making a horrible ass loan and don’t let dumbass kid off easy
 
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#165
#165
NorthDallas40 said:
Are you sure it’s a full guarantee? The property is lost and sold but the fed loan shops guarantee the offset? I mean… that is why PMI exists after all.
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The way I understand it is student loans are 100% backed by the feds. You get killed the day after you graduate with no assets the the taxpayers are on the hook to pay off your debt. I could be wrong but I think that’s the way it is.
 
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#166
#166
hog88 said:
The way I understand it is student loans are 100% backed by the feds. You get killed the day after you graduate with no assets the the taxpayers are on the hook to pay off your debt. I could be wrong but I think that’s the way it is.
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Was referencing home loans. Yes I believe you are correct on student loans. Which is why the bastards won’t let it be extinguished via bankruptcy. Just like a federal tax lien.
 
#167
#167
The university system has a day of reckoning coming. A lot of high schools are helping kids do dual enrollment. Lots of kids are showing up at universities with only two years left and some are getting it done online. The market is slowly fixing the problem by itself.
 
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#168
#168
MurphyVol said:
The university system has a day of reckoning coming. A lot of high schools are helping kids do dual enrollment. Lots of kids are showing up at universities with only two years left and some are getting it done online. The market is slowing fixing the problem by itself.
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A lot of the time online classes are more expensive than in person hours.
 
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#171
#171
LouderVol said:
Which makes zero sense. Except for the universities making more money.
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I agree, when our son was doing his co-op he still took something like 12 hours a semester online and it was more damn expensive than his normal classes were.
 
#173
#173
LouderVol said:
Which makes zero sense. Except for the universities making more money.
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Look no further than UTC. They build some multi million dollar library years ago. Like 4-5 stories...where are the books? In the basement all bookcased up and no one around. The Starbucks out front had lots of activity though.
 
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#174
#174
rjd970 said:
If you are voting the same people into office doing the same thing, griping about the same results seems rather hollow.
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No candidate is going to please you totally. The one that can’t even get elected isn’t going to move the needle at all.
 
#175
#175
Import millions of people into America who have limited job skills and cannot speak English.

Then send their five or six children to public schools to have a unionized teacher teach them to hate America.

What could go wrong?
 
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