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re: What is your best proposal to fix the student debt crisis?
Posted on 8/25/22 at 9:00 am to boogiewoogie1978
Posted on 8/25/22 at 9:00 am to boogiewoogie1978
quote:What “crisis?”
What is your best proposal to fix the student debt crisis?
Some folks borrowed more than they can easily repay. How is that a “crisis?”
0
Posted on 8/25/22 at 9:00 am to boogiewoogie1978
quote:
What is your best proposal to fix the student debt crisis?
1. To start off, stop referring to it as a crisis.
2.
quote:
just pay back your loans
3. Send anyone not doing step 2 to collections.
Stop trying to make this more complicated than it is.
Posted on 8/25/22 at 9:03 am to Pvt Hudson
quote:
Revert the loan process to the private sector. Make applicant prove “ability to repay” like they have to do with every other loan. Back the loan with either a co-signor or asset deposit. Show grades from previous year to prove viability.
The Federal Gov't should exit the education business at all levels. Stop loaning people money for college. Eliminate the Dept of Education.
Posted on 8/25/22 at 9:03 am to LSUisKING
quote:
And "just pay back your loans" is not an option.
Why is this not an option? It is with every other type of loan... It's what a loan is BY DEFINITION.
Every other loan can be discharged in a bankruptcy. Not students loans though.
I am not at all an advocate for student loan forgiveness as Biden is doing. But the fact remains that if student loans could be treated like credit card debt, for example, in a bankruptcy, billions of dollars student loans would already have been taken off the books.
Posted on 8/25/22 at 9:06 am to Ostrich
quote:
Make all federal student loan debt bankruptable for those that have it should they so choose that route if they truly cant pay it.
Nope. You can't repo a diploma like you can a house/car/etc.
You can't repo credit card debt, either. But it all gets wiped out in a bankruptcy.
This post was edited on 8/25/22 at 9:07 am
Posted on 8/25/22 at 9:06 am to boogiewoogie1978
quote:
What is your best proposal to fix the student debt crisis?
And "just pay back your loans" is not an option.
There is no student debt crisis.
However, if we are going to do something it should be...
*Automatic garnishing of wages equal to 10% up until one of the following occurs (25 years or debt is paid off).
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