$300 Billion in student loan "forgiven".... how generous

[Bigfatcock]

'It feels like enslavement': This working mom owes $240,000 in student loans. Now she's fighting for full cancellation to live her American Dream 'freely.'

"It always feels like we're drowning, and as soon as we come up for air, we're pushed back under again." Richelle Brooks, a principal in South LA, said.

www.yahoo.com

Partial refunds

 

[lariat]

'It feels like enslavement': This working mom owes $240,000 in student loans. Now she's fighting for full cancellation to live her American Dream 'freely.'

"It always feels like we're drowning, and as soon as we come up for air, we're pushed back under again." Richelle Brooks, a principal in South LA, said.

www.yahoo.com

Partial refunds

Enslavement to your own decisions? Exactly!

 

[deltawiskey]

'It feels like enslavement': This working mom owes $240,000 in student loans. Now she's fighting for full cancellation to live her American Dream 'freely.'

"It always feels like we're drowning, and as soon as we come up for air, we're pushed back under again." Richelle Brooks, a principal in South LA, said.

www.yahoo.com

Partial refunds

I read the first couple of dozen of the 1300 comments on that story... I was surprised, but happy to see every single comment was basically tough shit, pay back your loan!
DW

 

[Downzero]

What you are seeing on this thread is an acknowledgement and flat out rejection of a lack of gratitude and an unwillingness to work to fulfill one's obligations. This is mixed with an administration that has issued an EO that may well be unconstitutional just to get votes in November from those who are unthinking/uncaring for their fellow citizen and want their fellow citizen to pay for their decisions. How is this different from welfare? Not all of these debt holders are bad, so don't think I am saying that. What I am saying is that most are being manipulated (again) and don't even know it. I'm not saying you are in this camp or anyone else here, but I am definitely saying that this disregard for self responsibilities and others is indicative of how far we have fallen in this country.

I don't think this is supported by the data. My generation is neither ungrateful for their educational opportunities nor unwilling to fulfill their obligations. They have delayed having children, marrying, buying homes, and are the first generation to have lower real income than their parents. This is despite having fought the longest wars in American history. I'm sure there are plenty of slugs from every generation; our prisons are full of them. But given that we were not of age to vote and prevent prior generations from stacking the deck against us, I have no problem being angry with people who refuse to acknowledge that we got a raw deal.

This is different from welfare because it is the bad policies of the government that have caused higher education to rise in price faster than virtually any good or service in the economy, including health care. Older generations lack perspective because they were able to work a summer job to pay for their higher education, take modest loans, or many of them took the many jobs that were then-available to people without formal higher education that no longer exist on the scale needed for full employment.

Welfare gives people something for nothing. If delaying virtually every adult financial milestone and making less money than our parents isn't enough for you to see this as a problem, likely nothing will.

I found a path out of my debt prison, and it involves making less money than I made before I ever went to college or graduate school. For 8 years, among other things, I taught police academies full of people who were getting paid to attend. They could have absolutely gone to a university and paid cash for the same education, but the city/county decided that the only way they'd ever have a sufficient number of recruits was to subsidize their education (and in fact now they are offering huge signing bonuses and lowering the standards and they are still short). The acadmies I taught are not, however, the only way to become certified. It's just the one they took advantage of, because there is incentive for them to do it. Why would someone pay cash for something that they can get paid to do at someone else's expense?

 

[Bigfatcock]

My guidance counselor was the shit.

 

[sam4886]

I don't think this is supported by the data. My generation is neither ungrateful for their educational opportunities nor unwilling to fulfill their obligations. They have delayed having children, marrying, buying homes, and are the first generation to have lower real income than their parents. This is despite having fought the longest wars in American history. I'm sure there are plenty of slugs from every generation; our prisons are full of them. But given that we were not of age to vote and prevent prior generations from stacking the deck against us, I have no problem being angry with people who refuse to acknowledge that we got a raw deal.

This is different from welfare because it is the bad policies of the government that have caused higher education to rise in price faster than virtually any good or service in the economy, including health care. Older generations lack perspective because they were able to work a summer job to pay for their higher education, take modest loans, or many of them took the many jobs that were then-available to people without formal higher education that no longer exist on the scale needed for full employment.

Welfare gives people something for nothing. If delaying virtually every adult financial milestone and making less money than our parents isn't enough for you to see this as a problem, likely nothing will.

I found a path out of my debt prison, and it involves making less money than I made before I ever went to college or graduate school. For 8 years, among other things, I taught police academies full of people who were getting paid to attend. They could have absolutely gone to a university and paid cash for the same education, but the city/county decided that the only way they'd ever have a sufficient number of recruits was to subsidize their education (and in fact now they are offering huge signing bonuses and lowering the standards and they are still short). The acadmies I taught are not, however, the only way to become certified. It's just the one they took advantage of, because there is incentive for them to do it. Why would someone pay cash for something that they can get paid to do at someone else's expense?

Sounds like you should go be a cop.

 

[Snuby642]

Fuck any of you that took student loans and did not pay them back you commie shits.

I give not a single good God damn if you wear a uniform of any kind or not.

Pay for your own shit you fucking leach.

Edit: And I almost forgot, suck my dick.

 

[lariat]

I understand when people take student loans. For someone it may be the only way to get a degree. But honestly, I support the idea of this loan forgivenes only partly. There are different situations, and if someone can't pay it off because, for example, health issues, then it's ok to forgive.
But if a person is just lazy to put some efforts, then sorry...

This is where I was going with the welfare assessment. The welfare system used to be as you described but is so corrupt now that people who could work don’t. Forgiveness to me is by and large the same. The able-bodied should pay what they owe, not have others support their (probably honest but incorrect) decisions.

 

[Jethro21]

My oldest is starting college, he’s not yet 18 but he has a plan (wants to be a nurse) and he is excited about it. Even starting at a junior college, the cost is substantial. Since he is our oldest, we are paying for his first semester.

Now the medical field has determined a nursing degree, which could be had in 2 years, will require a 4 year degree BSN. Why? For decades nurses have been doing their job well with just an associates in nursing.

What it has done is significantly increased the cost to get into a necessary job field. I have 4 kids, we make ends meet but I certainly can’t afford to pay for degrees for them, not while keeping a roof over my own head. I don’t like it but my son will need to take out loans to get his degree, we will help when/how we can.

Higher education has become such a bloated industry. My son has a math class, 3 credit hours (several hundred dollars in fees and books). First day his professor says she doesn’t care if they skip classes except to come take the tests. What am I paying for? If classes don’t matter, why require them?

 

[Badjujuu]

"First day his professor says she doesn’t care if they skip classes except to come take the tests. What am I paying for? If classes don’t matter, why require them?"

- this resonates with me. I'm currently back in school taking some more courses to finish my degree I've been putting off for some years. The requirements to pass a class are a joke. The youngsters continually miss class and are late with turning in assignments. The professors don't seem to care either. Students are excused from giving project presentations because they have public speaking anxiety/stress.

Maybe teachers want high passing rate or good reviews from students. Who knows

 

[Snuby642]

What part of we have your money and that's all that matters did you have a problem with?

It's a wonder the teaching staff show up at all let alone teach.

Might just as well have a vending machine full of books, tests and degrees.

A zoom meeting or two and done.

Oh wait that's how my former boss got his buisiness degree.

 

[Downzero]

My oldest is starting college, he’s not yet 18 but he has a plan (wants to be a nurse) and he is excited about it. Even starting at a junior college, the cost is substantial. Since he is our oldest, we are paying for his first semester.

Now the medical field has determined a nursing degree, which could be had in 2 years, will require a 4 year degree BSN. Why? For decades nurses have been doing their job well with just an associates in nursing.

What it has done is significantly increased the cost to get into a necessary job field. I have 4 kids, we make ends meet but I certainly can’t afford to pay for degrees for them, not while keeping a roof over my own head. I don’t like it but my son will need to take out loans to get his degree, we will help when/how we can.

Higher education has become such a bloated industry. My son has a math class, 3 credit hours (several hundred dollars in fees and books). First day his professor says she doesn’t care if they skip classes except to come take the tests. What am I paying for? If classes don’t matter, why require them?

Nursing is a GREAT deal. It seems to me like the schools are artificially keeping the number of nurses low. When I started college it was at a community college, and even there, it was extremely competitive to get admitted for nursing. I don't know how long that can last when we have a massive shortage--my fiancee says they have hospital beds that they can't admit patients to because they are constantly understaffed and have no nurses to staff those beds. Nurses have figured out to get professional respect + hourly pay, really a sweet deal if you can stand to deal with people.

To answer your other question, if you can learn the material in college without going to class, the professors are seldom going to care. A good test will prove mastery of the material. I went to my lectures throughout college and graduate school, but it doesn't surprise me one bit that a good student might not. There was a Russian kid in my Calculus course who had to raise his hand and ask why there wasn't a grade on his test once. The professor had to tell him that he used the kid's test as an answer key in front of all of the other students. I'm pretty sure it wouldn't have mattered if he went or not. If you thought you were paying college professors to "teach," well, it kinda depends on where you go. Big research universities don't place any real emphasis on teaching. It's more of a nuisance for the professors than anything.

 

[pineoak]

If You Can Get A Transgender Surgery, You Can Repay your Loans

If young adults are mature enough to make permanent, major changes to their bodies, they can also repay what they borrowed to go to college.

thefederalist.com

 

[pineoak]

Biden’s Loan Forgiveness Could Come Back To Haunt Students On Tax Day

President Joe Biden’s sweeping plan to forgive billions in student debt could come back to haunt the very students it was implemented to help — and soon. People who benefit from the plan — up to $10,000 in loan forgiveness for those making under $125,000 annually and up to $20,000 for Pell Grant...

www.dailywire.com

 

[lariat]

Biden’s Loan Forgiveness Could Come Back To Haunt Students On Tax Day

President Joe Biden’s sweeping plan to forgive billions in student debt could come back to haunt the very students it was implemented to help — and soon. People who benefit from the plan — up to $10,000 in loan forgiveness for those making under $125,000 annually and up to $20,000 for Pell Grant...

www.dailywire.com

Well, it's kinda like the White Stripes say, "you can't be a pimp and a prostitute too." Aint nothing free, no matter what they tell you. The school payments, they take a while - the tax is due NOW, so you pay more up front for a little $10K-tax payment. This whole thing is a scam for votes. You know it's odd that EDUCATED people wouldn't be able to see this. Don't forget the penalties if you don't pay, and those add up quick.

So ironic. Can pay your bills? Living month to month? Go ahead and put in for this. Then try to pay your monthly bills and the tax. This whole thing actually adds to the immediate burden and barely does anything in the long term.

 

[Longshot231]

For something to be funny there has to be some truth to it.

The people that are demanding that we pay for there student loan might as well go door to door.

While they are at it, why don’t they try it with a gun? They won’t do that because they have the power of the government doing that for them.

They want their “rights” protected except your’s.

 

[TripSolana]

Such a ridiculous decision. I don’t see the point at all. Okay, now each student can enter the university. Even those having the worst grades. Some of them will never be attentive or smart enough to achieve that kind of knowledge. Most of these students may be kicked out. Or even if they don’t, they won’t grow into good specialists as those who had real skills and talent for it. so I don’t think it is great. My son took out a loan at Navibanker five years ago and we have already paid it off. However, I don’t think they’ll return us money. and I will have to work more and pay bigger taxes for nothing. Great

 

[pineoak]

Lawsuit To Block Student Loan Bailout Can Set Stage For Solving Debt Crisis | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[Hobo Hilton]

Federal Reserve chairman Jerome Powell has said that he’s “at a loss to explain” why student loans are treated differently than other types of debt in the proceedings.

Biden administration to make it easier for student loan borrowers to discharge debt in bankruptcy

The Biden administration announced updated guidelines that will make it easier for those struggling with their student debt to discharge it in bankruptcy.

www.cnbc.com

 

[W54/XM-388]

Federal Reserve chairman Jerome Powell has said that he’s “at a loss to explain” why student loans are treated differently than other types of debt in the proceedings.

Biden administration to make it easier for student loan borrowers to discharge debt in bankruptcy

The Biden administration announced updated guidelines that will make it easier for those struggling with their student debt to discharge it in bankruptcy.

www.cnbc.com

Because the folks that set it up wanted to enslave the young for their whole lives.

It's B.S. that the loans can't be discharged in bankruptcy, that should 100% be changed so the debt is treated like any other.

Also it's B.S. that for many, essentially you pay all the interest no matter how quick you pay off the loan and they make you pay all the interest up front before any principal payments. ALL the loans need to be changed to standard decent normal and sane loan terms and compensation given to those who made greedy bankers rich (at the banker's expense) and if the bankers don't like it, tell them to go whine to their corrupt congress critters who helped them setup the enslavement scheme.

 

[acudaowner]

well you have to admit if nothing less it was a great way to get younger people to vote for the dims in key area's or at least allow some group to vote for you in there area's I am still seeing it as false votes it's more than a little funny that all those perspective younger voters all voted by mail in and all were paid to do it . Id have voted for whom ever if you just pay me hooker for primers , bullets , and powder you get my vote .

 

[lariat]

Are college classes too hard for today's students? Alarming numbers say 'yes.'

"Its too hard." Cry me a river.

 

[UKDslayer]

So don’t tell me it can’t be done. You have to determine what your means are and then set the parameters of your life around those means.
No one said it was easy and no one said it was fun, but if someone tells you it isn’t possible, they are a liar.

It can't be done if you have to have a new iPhone every year, new Jordans/Louis Vuitton purse, plus eating out, Starbucks , have an 80K car every morning etc.
You are thinking too practical...

 

[Charger442]

Because the folks that set it up wanted to enslave the young for their whole lives.

It's B.S. that the loans can't be discharged in bankruptcy, that should 100% be changed so the debt is treated like any other.

Also it's B.S. that for many, essentially you pay all the interest no matter how quick you pay off the loan and they make you pay all the interest up front before any principal payments. ALL the loans need to be changed to standard decent normal and sane loan terms and compensation given to those who made greedy bankers rich (at the banker's expense) and if the bankers don't like it, tell them to go whine to their corrupt congress critters who helped them setup the enslavement scheme.

I may take a different view here. If it can be discharged in bankruptcy, how many kids, right out of school at 24 with a masters from private college and $250k in debt, own nothing of value like land, declare bankruptcy immediately, pay cash for 7 years and never actually spend a dime on their own education?.

I think most all of them.

 

[Hobo Hilton]

I may take a different view here. If it can be discharged in bankruptcy, how many kids, right out of school at 24 with a masters from private college and $250k in debt, own nothing of value like land, declare bankruptcy immediately, pay cash for 7 years and never actually spend a dime on their own education?.

I think most all of them.

You bring up some valid points...
With a click of a mouse, credit history can be brought up for 100 different reasons. We are headed into a recession that is going to taks a few years to clear the books. During this recession an excellent credit score will get you things when your bank account is down to it's last $100. If these folks can't be paying on a student loan then they must not have much cash so paying cash for 7 - 10 years is out of the question. They can't even rent an apartment with dings on that credit report. Obviously the parents of these students don't have a lot of money so there will not be any parental bailouts. If they are working some crappy job, the IRS or State Department of Revenue is going to take any lose change.

I don't find anything positive after looking at it from different angles. A debt is still a debt.
The world has changed.
_____________
Debts such as child support, alimony, most student loans, and certain tax debts are typically not discharged. A Chapter 7 bankruptcy is typically removed from your credit report 10 years after the date you filed, and this is done automatically, so you don't have to initiate that removal.

How Long Does Bankruptcy Stay On Your Credit Report? | Chase

Bankruptcy can stay on your credit report for either seven or 10 years, depending on what type of bankruptcy it is.

www.chase.com

 

[RUTGERS95]

Federal Reserve chairman Jerome Powell has said that he’s “at a loss to explain” why student loans are treated differently than other types of debt in the proceedings.

Biden administration to make it easier for student loan borrowers to discharge debt in bankruptcy

The Biden administration announced updated guidelines that will make it easier for those struggling with their student debt to discharge it in bankruptcy.

www.cnbc.com

more proof the circle of gov't and quasi gov't people are beyond dumb. Death and taxes

 

[RUTGERS95]

Because the folks that set it up wanted to enslave the young for their whole lives.

It's B.S. that the loans can't be discharged in bankruptcy, that should 100% be changed so the debt is treated like any other.

Also it's B.S. that for many, essentially you pay all the interest no matter how quick you pay off the loan and they make you pay all the interest up front before any principal payments. ALL the loans need to be changed to standard decent normal and sane loan terms and compensation given to those who made greedy bankers rich (at the banker's expense) and if the bankers don't like it, tell them to go whine to their corrupt congress critters who helped them setup the enslavement scheme.

wrong

it's a loan the gov't (taxpayer) backstops. you take the loan, you pay the loan as uncle sugar needs his money to finance a Versailles lifestyle

 

[Charger442]

You bring up some valid points...
With a click of a mouse, credit history can be brought up for 100 different reasons. We are headed into a recession that is going to taks a few years to clear the books. During this recession an excellent credit score will get you things when your bank account is down to it's last $100. If these folks can't be paying on a student loan then they must not have much cash so paying cash for 7 - 10 years is out of the question. They can't even rent an apartment with dings on that credit report. Obviously the parents of these students don't have a lot of money so there will not be any parental bailouts. If they are working some crappy job, the IRS or State Department of Revenue is going to take any lose change.

I don't find anything positive after looking at it from different angles. A debt is still a debt.
The world has changed.
_____________
Debts such as child support, alimony, most student loans, and certain tax debts are typically not discharged. A Chapter 7 bankruptcy is typically removed from your credit report 10 years after the date you filed, and this is done automatically, so you don't have to initiate that removal.

How Long Does Bankruptcy Stay On Your Credit Report? | Chase

Bankruptcy can stay on your credit report for either seven or 10 years, depending on what type of bankruptcy it is.

www.chase.com

One issue is there's a difference between can't and don't want to.

 

[kenny1773]

Because the folks that set it up wanted to enslave the young for their whole lives.

It's B.S. that the loans can't be discharged in bankruptcy, that should 100% be changed so the debt is treated like any other.

Also it's B.S. that for many, essentially you pay all the interest no matter how quick you pay off the loan and they make you pay all the interest up front before any principal payments. ALL the loans need to be changed to standard decent normal and sane loan terms and compensation given to those who made greedy bankers rich (at the banker's expense) and if the bankers don't like it, tell them to go whine to their corrupt congress critters who helped them setup the enslavement scheme.

I disagree that student debt is 'like any other debt' it is a different animal for different reasons.

If it were the same, then all people getting a student loan should have the same exact measures as a personal loan applied to them in order to 'qualify' for the loan. I bet very few students would then qualify, right? so it is different.

also agree with Charger442's point, many more people with stupid student loans will be much higher motivated to declare bankruptcy right out of school

I don't have a great answer to the problem, but I haven't studied the details

 

[wade2big]

College tuition is artificially inflated and the need for college is manufactured as well to pressure young people into debt. It’s a racket as it is. That’s the problem.

 

[bbhank]

You can't just delete billions of dollars worth of debt. That debt is on someones balance sheet somewhere and it needs to be paid back, it is part of the financial system. That means it will land on the back of American Tax Payers. So if your dumb ass took debt you can't or don't want to pay back I'll tell you the same thing I tell the rock talkers begging for money at the gas station. Eat A Dick!!!!!

Its time we start reminding people the American dream only come true when you bust your ass to make it come true.

 

[AngryKoala]

College tuition is artificially inflated and the need for college is manufactured as well to pressure young people into debt. It’s a racket as it is. That’s the problem.

There is a need for college but societies push college on people that do not belong in a classroom.

 

[AngryKoala]

You can't just delete billions of dollars worth of debt. That debt is on someones balance sheet somewhere and it needs to be paid back, it is part of the financial system. That means it will land on the back of American Tax Payers. So if your dumb ass took debt you can't or don't want to pay back I'll tell you the same thing I tell the rock talkers begging for money at the gas station. Eat A Dick!!!!!

Its time we start reminding people the American only come true when you bust your ass to make it come true.

Plenty of people pay more in taxes in a year than what this relief provides. It's their own money they would be getting back, not yours.

 

[wade2big]

There is a need for college but societies push college on people that do not belong in a classroom.

I agree. It is done to inflate prices. Its a racket. Employers also put too much emphasis on a degree when none is needed most of the time depending. This doesn’t help.

 

[bbhank]

Plenty of people pay more in taxes in a year than what this relief provides. It's their own money they would be getting back, not yours

Let me get this straight, you think the government is going to print money to pay this debt off and the inflationary expense is only going to affect those who took out the loans in the first place? That's great why didn't you say so in the first place.

 

[sirhrmechanic]

There is a need for college but societies push college on people that do not belong in a classroom.

They also create 'Education programs' that are not educational. Sorry, but feminist Dance Degrees do not have a use in any society. Engineering, Science, programming, nursing, accounting, shooting shit from really far away.... those have real societal value.

Much of the bullshit that gets you a degree now is worthless. Student Loans should be for degrees that lead to employment and a path to pay it back. Not 4 year sitting around naval gazing and contemplating a bong.

I'll happily fund engineers and scientists... because they will have jobs. And pay back not only with interest but with massive contributions to society over a career.

Blue haired freaks who majored in Sanskrit are a detriment to society and should be eaten.

Sirhr

 

[W54/XM-388]

You can't just delete billions of dollars worth of debt. That debt is on someones balance sheet somewhere and it needs to be paid back,

NO, that's the problem, for some reason Bankers have convinced everyone that any money the bankers claim to be owed has to be paid to them and they can't be allowed to suffer any losses.

Say NO to them, say sorry you worked out a corrupt greedy scheme with your government buddies to enslave the youth and guess what, you don't get to profit anymore from that, you get your original money back and nothing more and we are putting an end to your greed.

You might wonder how banking elite got to owning the world and running it... well they convinced everybody that of course they must always be paid even when they do stupid things.

So No, tell the bankers they can eat the supposed "losses" on the fraudulent profits they thought they were going to get away with making.

 

[W54/XM-388]

wrong

it's a loan the gov't (taxpayer) backstops. you take the loan, you pay the loan as uncle sugar needs his money to finance a Versailles lifestyle

Once again you and everyone else miss the point.

The bankers privatize all the profits but socialize all the losses...

 

[W54/XM-388]

I may take a different view here. If it can be discharged in bankruptcy, how many kids, right out of school at 24 with a masters from private college and $250k in debt, own nothing of value like land, declare bankruptcy immediately, pay cash for 7 years and never actually spend a dime on their own education?.

I think most all of them.

Self fixing problem

After the first few rounds of that, the bankers realize they can't lend insane amounts of money for no risk.
Then they will cap how much you can borrow to levels reasonable people can pay back
Then the greedy "education institutions" will have to charge reasonable rates.

 

[Badjujuu]

They had the kids attend brainwashing colleges where they were fed propaganda and became left wing morons while paying for it with student loans which now everyone else will pay for.

LMAO. Almost brilliant. Tax payers produced more libtards.

Check out this class: I'm sure folks paid for the class with their student loans!!!

WBEZ Chicago: UChicago class on 'Whiteness' prompts death threats after student accuses professor of 'anti-white hatred'.

UChicago class on ‘Whiteness’ prompts death threats after student accuses professor of ‘anti-white hatred’

The professor delayed the class to ensure student safety, but strongly defended it. She says the student misrepresented her course to stoke white grievance.

www.wbez.org

 

[Charger442]

They also create 'Education programs' that are not educational. Sorry, but feminist Dance Degrees do not have a use in any society. Engineering, Science, programming, nursing, accounting, shooting shit from really far away.... those have real societal value.

Much of the bullshit that gets you a degree now is worthless. Student Loans should be for degrees that lead to employment and a path to pay it back. Not 4 year sitting around naval gazing and contemplating a bong.

I'll happily fund engineers and scientists... because they will have jobs. And pay back not only with interest but with massive contributions to society over a career.

Blue haired freaks who majored in Sanskrit are a detriment to society and should be eaten.

Sirhr

As soon as you publicly fund those certain degrees their quality starts to fall fast. There's a giant influx of demand for that degree and then as flunk rates skyrocket, colleges will loosen requirements to cash in on that four years of public funded tuition.

Public education, at any level, is not the real answer.
Disclaimer: I say this as I look at my B of Science Engineering degree. I'm also seeing it happen to universitys that set arbitrary stem graduation targets. Quality has fallen

 

[AngryKoala]

Let me get this straight, you think the government is going to print money to pay this debt off and the inflationary expense is only going to affect those who took out the loans in the first place? That's great why didn't you say so in the first place.

Let me get this straight, you can't read what is typed. Why didn't you say so in the first place.

 

[AngryKoala]

They also create 'Education programs' that are not educational. Sorry, but feminist Dance Degrees do not have a use in any society. Engineering, Science, programming, nursing, accounting, shooting shit from really far away.... those have real societal value.

Much of the bullshit that gets you a degree now is worthless. Student Loans should be for degrees that lead to employment and a path to pay it back. Not 4 year sitting around naval gazing and contemplating a bong.

I'll happily fund engineers and scientists... because they will have jobs. And pay back not only with interest but with massive contributions to society over a career.

Blue haired freaks who majored in Sanskrit are a detriment to society and should be eaten.

Sirhr

Couldn't agree more. College is needed but it is way too bloated in its current state.

 

[bbhank]

NO, that's the problem, for some reason Bankers have convinced everyone that any money the bankers claim to be owed has to be paid to them and they can't be allowed to suffer any losses.

Say NO to them, say sorry you worked out a corrupt greedy scheme with your government buddies to enslave the youth and guess what, you don't get to profit anymore from that, you get your original money back and nothing more and we are putting an end to your greed.

You might wonder how banking elite got to owning the world and running it... well they convinced everybody that of course they must always be paid even when they do stupid things.

So No, tell the bankers they can eat the supposed "losses" on the fraudulent profits they thought they were going to get away with making.

The banks are owed, people took loans and the bank operated with the expectation of being paid back. If you think your going to punish the banks you are mistaken. If the banks fail, then wall street punishes the bank, then all of those invested in those banks get punished.

I think its time we shut the power off for 6 months and let people sort out there personal responsibility challenges.

 

[lightman]

I worked hard to pay as we went for 2 college educations. Damned hard. Those 2 college educations overlapped a couple of years! I feel like a democrat spit in my face. My voting reflected those feelings. Angry? Yeah!

 

[sirhrmechanic]

 

[W54/XM-388]

The banks are owed, people took loans and the bank operated with the expectation of being paid back. If you think your going to punish the banks you are mistaken. If the banks fail, then wall street punishes the bank, then all of those invested in those banks get punished.

I think its time we shut the power off for 6 months and let people sort out there personal responsibility challenges.

Another self fixing problem.

If banks get punished when they do evil corrupt things and try to enslave people with oppressive loans, then people might stop blindly throwing money at them and start asking them to prove they are not doing shady things before tossing them money.

So many folks have no idea how much the bankers you defend laugh at your kind and think of you as brainwashed suckers who exist simply to make them money.

The bankers and wall street have corrupted this country to a massive extent, get rid of both and you might get your republic back.
Leave both alone and worship them and do whatever they say you should do for them and you'll be slaves always no matter what figurehead you vote in.

 

[bbhank]

Another self fixing problem.

If banks get punished when they do evil corrupt things and try to enslave people with oppressive loans, then people might stop blindly throwing money at them and start asking them to prove they are not doing shady things before tossing them money.

So many folks have no idea how much the bankers you defend laugh at your kind and think of you as brainwashed suckers who exist simply to make them money.

The bankers and wall street have corrupted this country to a massive extent, get rid of both and you might get your republic back.
Leave both alone and worship them and do whatever they say you should do for them and you'll be slaves always no matter what figurehead you vote in.

You Sir know nothing about me, but thanks for speculating.

The fact is there is a system in place and it functions a certain way and no amount of griping on snipers hide is going to change it.

So you have two choices. The first is what you do, sit on the sidelines bitching about how corrupt it is and blame everyone else but the people responsible for there own terrible decisions.

The second is what I do, learn to play the system and do what is best for yourself.

The funny part is if you are invested in even 1 ETF, you have invested in that very system you wish to dismantle.

 

[P-Squared]

F' the banks. Push it back on the school and their 'Endowments'. The kid defaults, they pay. It won't take more than a week or two and BS degrees disappear and suddenly you would have to 'qualify' for a loan.

I think 'suddenly' we would have just 2 (2) genders again.

F' these deadbeats.

 

[RUTGERS95]

Once again you and everyone else miss the point.

The bankers privatize all the profits but socialize all the losses...

I didn't miss anything and I know this securitized space pretty well. You have a choice, you either fund college or you don't, the same fking way you fund roads, schools, bridges and all the other shit you take for granted.....that doesn't happen without wall street.

Now if your argument is that the loans should be direct from the gov't that is another discussion and one I'm happily to engage in but doing so you are looking bigger gov't, more regulation, expanded costs for college and more taxpayer liability.