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Started By
Message
re: Allow student loans to be wiped out via bankruptcy?
Posted on 3/22/25 at 12:29 pm to theCrusher
Posted on 3/22/25 at 12:29 pm to theCrusher
quote:
The University should hold 50% of the student loan debt. If the student defaults it’s on the school and lender.
No shortage of idiots on this issue.
0
Posted on 3/22/25 at 12:33 pm to Ag Zwin
quote:
As I understand it, one of the issues with student loans is they can’t be wiped out with bankruptcy.
If we accept the fact that many/most will not be paid back, what would the appetite be for letting bankruptcy be an option? Maybe even a new version of it where the interest gets wiped, but not principal, but you still have the bankruptcy on your record and deal with the real world consequences of that.
If these things are perpetual, or they can’t see bankruptcy, there seems to be little downside to just riding them out in perpetuity. No idea how they affect credit scores, though. I was one of the dumb ones that paid Mrs. Zwin’s Baylor debt off in full.
I think giving it to bankruptcy courts to decide a fair solution to it isnt a terrible idea. Plenty of people were mislead into college and debt because they said it would make them money but college isn't about making money it's about learning about your subject area. Many should have been lead more towards trades and other career paths that would fit them better.
Posted on 3/22/25 at 12:35 pm to Jack Carter
quote:
Allow the students to get a refund from the university.
Another idiot.
Posted on 3/22/25 at 12:37 pm to Harry Boutte
quote:
It's not for you to judge what someone's "return" is on their education. It's none of your business what anyone gets out of going to school. If someone wants to borrow money to go to school, and then turns around and gets a job that isn't directly related to what they learned, that's their personal business. I know quite a few people who borrowed quite a bit of money to go to law school, and now are either struggling to make ends meet, or have gone on to other careers.
For some people, education means more to them than just what they can sell it for. It's personal.
1. So refreshing to see someone who is not an idiot on this issue
2. This is only reason #1 of about 6-8 reasons why "Making the university responsible" is so stupid that I'm surprised anyone who thinks that can successfully log on to post here.
Posted on 3/22/25 at 12:39 pm to Taxing Authority
quote:
Best argument against student loan "forgiveness" that can be made.
Maybe the best, maybe only the first of at least half a dozen.
Either way, thank you for not being another idiot about this.
Posted on 3/22/25 at 12:41 pm to Indefatigable
quote:
This situation is a little fricked. Oscillating between what the government is going to allow you to pay isn’t right.
No, what's not right is Biden unilaterally changing loan rules in defiance of federal law and SCOTUS, all while Roberts publicly ctiticizes Trump for not doing that very same thing.
Posted on 3/22/25 at 12:45 pm to BamaGradinTn
quote:
For every one of those, you have ten of these.
And for every student you have that graduates in engineering you have two others that transferred out of the major and one other who dropped out entirely.
For every student who majored in pre med and got into med school, there's 1 1/2 others who couldn't get in. I don't know what you do with a pre-med undergrad when you can't get into med school, but...
The notion that it's only the silly degrees that are bad loan risks is a stupid myth that should be obvious to anyone paying the slightest bit of attention.
Almost no degrees are a good loan risk.
This post was edited on 3/22/25 at 12:46 pm
Posted on 3/22/25 at 12:45 pm to Ag Zwin
quote:
Allow student loans to be wiped out via bankruptcy?
Yes. This is obviously the answer.
Posted on 3/22/25 at 12:46 pm to oklahogjr
quote:
Plenty of people were mislead into college and debt because they said it would make them money
That's simply not true.
Posted on 3/22/25 at 12:47 pm to imjustafatkid
quote:
Yes. This is obviously the answer.
If you're a moron, I guess.
Posted on 3/22/25 at 12:48 pm to wackatimesthree
quote:
Idiocy.
You make a compelling argument.
Please explain why universities who are sitting on billions of dollars in endowments shouldn't foot the bill for helping destroy our higher education system (and simultaneously our country) by producing mindless, socialist automatons who will never get out of debt.
Posted on 3/22/25 at 12:49 pm to wackatimesthree
quote:
If you're a moron, I guess.
Nope. The government removing bankruptcy protections and guaranteeing college loans is why this problem exists. The only way to fix it is for those things to end.
Any other "fix" is temporary until people are willing to truly address the underlying causes I mentioned above.
This post was edited on 3/22/25 at 12:50 pm
Posted on 3/22/25 at 12:49 pm to wackatimesthree
quote:
That's simply not true.
I know of a few different folks who were heavily encouraged by guidance counselors, told by teachers how people who go to college statistically make more, etc.
Trade school was an option but it wasn't pushed like college was. Many were encouraged that a college loan was the best financial decision they could make because of better pay with an education.
College is a path but it's not the best path for everyone and our education system needs to recognize that
Posted on 3/22/25 at 12:51 pm to wackatimesthree
quote:
That's simply not true.
Yes, it is true. College as the answer has been indoctrinated into children for decades.
Anyone denying this does not truly want to address the problem.
Posted on 3/22/25 at 12:51 pm to Paddyshack
quote:
Please explain why universities who are sitting on billions of dollars in endowments shouldn't foot the bill for helping destroy our higher education system (and simultaneously our country) by producing mindless, socialist automatons who will never get out of debt.
I've already done so several times, and at least once on this thread.
Should I do it again just because you can't be bothered to read the whole thread?
I'll think about it.
Posted on 3/22/25 at 12:57 pm to imjustafatkid
quote:
Yes, it is true. College as the answer has been indoctrinated into children for decades.
Good grief, so what?
I thought you two meant that the college was telling students they would make XYZ amount of money if they went into XYZ major, which doesn't happen (because it's illegal).
So the general consensus among high school counsellors and parents for decades is that young people will be better off going to college than not, and you think that's a reason that people shouldn't have to pay back the loans they took out?
I have grown to hate you populist-victim idiots.
I probably shouldn't; it's probably not your fault. You probably have a testosterone level of around 100 and that's why you live your whole life blaming everyone else for everything, and it's probably been caused by our food.
But back to the original question, what if someone (wouldn't be me, because I believe in God), but what if someone who didn't started going around screaming that the government should force churches to pay back all the donations that church members had (voluntarily, just like the loans) made because it's not fair that the general consensus in society is that there is a God and belonging to a church is "the answer," to quote you?
Would you think they would have a good case for that?
EDIT: See my realization of your full argument below.
This post was edited on 3/22/25 at 1:00 pm
Posted on 3/22/25 at 12:59 pm to imjustafatkid
quote:
The government removing bankruptcy protections and guaranteeing college loans is why this problem exists. The only way to fix it is for those things to end.
O.k., if you're including stopping the guaranteed loans (which you didn't mention above), then I apologize.
I agree. Clearly that is the answer.
Posted on 3/22/25 at 12:59 pm to wackatimesthree
quote:
've already done so several times, and at least once on this thread.
Should I do it again just because you can't be bothered to read the whole thread?
I'll think about it.
Yes the loans should stop.
That's not an answer to my point. The universities have culpability as well. They should enjoy some of the financial burden.
Posted on 3/22/25 at 1:01 pm to Paddyshack
quote:
The universities have culpability as well.
They have zero culpability unless they engaged in fraud, which they didn't. Not en mass, anyway. If there are isolated incidences of them breaking the law on that there is legal recourse.
quote:
They should enjoy some of the financial burden.
Absolutely not, and it's stupid to think that they should.
It's as stupid (and using the same argument) as people who think that gun manufacturers should be responsible for someone who buys a gun and shoots up a school with it.
This post was edited on 3/22/25 at 1:05 pm
Posted on 3/22/25 at 1:04 pm to Paddyshack
quote:Yep. Just like car manufacturers should be held liable for drunk driving accidents.
That's not an answer to my point. The universities have culpability as well. They should enjoy some of the financial burden.
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