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re: Vice is rational: forgive student loans; don't give Amazon money
Posted on 11/18/18 at 6:58 pm to Uncle Stu
Posted on 11/18/18 at 6:58 pm to Uncle Stu
As did we, don't owe a cent, loans satisfied and was a healthy chunk of change, Crown Prince of Saudi Arabia might have blushed. One can argue we didn't do our due diligence, fine, I'll eat a third, the ED eats a third and CEC eats a third and the Federal government can sue CEC for its third.
Courts have heard the cases AND the Education Department is culpable as they found regulatory violations and failed to: terminate the use of government backed student loans and worse, in my view, inform the borrower so that they could have made an 'informed decision'
Courts have heard the cases AND the Education Department is culpable as they found regulatory violations and failed to: terminate the use of government backed student loans and worse, in my view, inform the borrower so that they could have made an 'informed decision'
0
Posted on 11/18/18 at 7:00 pm to Lima Whiskey
No kidding but they aren't going to say a peep as they have likewise made off like bandits
Posted on 11/18/18 at 7:18 pm to Teddy Ruxpin
I agree. And actually agree in principle with the vice article, sadly.
Neither should happen but if you're giving a company special treatment, I mean, why not?
Neither should happen but if you're giving a company special treatment, I mean, why not?
Posted on 11/18/18 at 8:23 pm to Tiguar
The only thing I want to see is the interest rates lowered. Since college is used more as a jobs study program now, you shouldn't be heavily penalized for trying to gain skills to get employment.
Posted on 11/18/18 at 8:27 pm to SlowFlowPro
Would I get money back since I paid off my student loans quickly and responsibly?
Posted on 11/18/18 at 8:38 pm to SlowFlowPro
Rather than forgiving student debt and shifting the burden to taxpayers, make them dischargeable in bankruptcy shifting the burden onto the people who made the loans in the first place.
Posted on 11/18/18 at 10:11 pm to SlowFlowPro
quote:
yeah i've posted this before but if SL debt is forgiven i want a fricking check or i may snap
i sacrificed a ton to pay off the majority of mine early (which includes the schools i chose to save money)
i passed on Europe in undergrad AND in law school
As somebody who starved and worked 60 hour weeks in school to graduate debt free I will choke the first person I find celebrating student loan forgiveness.
Posted on 11/18/18 at 11:10 pm to SlowFlowPro
I'd be ok with a 1:1:1 ratio of student loan forgiveness.
Student pays 1/3, government forgives 1/3 and college endowments pay 1/3.
Then return it to the private sector and stop giving loans to crybabies who can't afford them.
Student pays 1/3, government forgives 1/3 and college endowments pay 1/3.
Then return it to the private sector and stop giving loans to crybabies who can't afford them.
Posted on 11/18/18 at 11:19 pm to Boatshoes
quote:
Rather than forgiving student debt and shifting the burden to taxpayers, make them dischargeable in bankruptcy shifting the burden onto the people who made the loans in the first place.
I like that idea. The fact that you can't even declare bankruptcy to get out from under student loans is kind of insane. You take 17 year old kids who don't know shite about the real world and get them to agree to over 100,000 of debt at 6-10% interest for a bullshite liberal arts degree that can't be discharged in bankruptcy? It's just condemning them to a life of poverty. That debt will be with them until the day they die.
If student loans were dischargable the whole system would pretty much fix itself. Nobody would be loaning these kids tens of thousands of dollars anymore, and average schools couldn't charge 40k per year because now their customers actually have to think about the price and whether they can afford it. It used to be that you didn't have to take out loans to get a degree as long as you were willing to work at the same time. The only reason that changed is because students were given all this endless loan money. And as long as the money is available schools will raise their prices to take it.
Posted on 11/19/18 at 5:37 am to frogglet
That is a pretty good suggestion.
Also, forgiving debt is treating a symptom and avoids the problem. The problem is financial management that was never taught to these debtors. Schools must provide this kind of education in high school. Each year of high school should include a mandatory life skills class, with the senior year being about money management to include building wealth and maintaining it.
Any opportunity to create debt forgiveness must include remedial financial literacy classes.
We need to stop feeding the problem and start attacking it.
Also, forgiving debt is treating a symptom and avoids the problem. The problem is financial management that was never taught to these debtors. Schools must provide this kind of education in high school. Each year of high school should include a mandatory life skills class, with the senior year being about money management to include building wealth and maintaining it.
Any opportunity to create debt forgiveness must include remedial financial literacy classes.
We need to stop feeding the problem and start attacking it.
Posted on 11/19/18 at 5:41 am to SlowFlowPro
I've never understood the whole student loan debt forgiveness thing. If anyone doesn't need financial assistance with debts it's people with college degrees.
Having a student loan payment isn't a financial hardship
Having a student loan payment isn't a financial hardship
Posted on 11/19/18 at 5:43 am to Powerman
quote:
I've never understood the whole student loan debt forgiveness thing. If anyone doesn't need financial assistance with debts it's people with college degrees. Having a student loan payment isn't a financial hardship
What?
Posted on 11/19/18 at 5:45 am to 3nOut
Why would you starve? And did you do well at school working those 60 hour weeks?
Posted on 11/19/18 at 5:47 am to JOJO Hammer
quote:
If student debt is forgiven, I want my credit card debt, car debt, and mortgage all forgiven....
I don't have any debt so I'll need to be paid straight up.
They can take the national average for the debt payoff and give that to the folks who have no debt.
Posted on 11/19/18 at 5:47 am to Mo Jeaux
quote:
What?
People with college degrees typically earn more than those that don't. They took on student loan debt as a means to fund their education and further their career. They should pay back that debt. They are equipped to pay back those debts with higher paying jobs. We shouldn't look at student loan debt as a financial hardship. Student loan debt forgiveness would be nothing more than a hand out to the middle class.
Posted on 11/19/18 at 5:59 am to SlowFlowPro
quote:
Vice is rational
quote:
forgive student loans
frick no
quote:
don't give Amazon money
Correct
Posted on 11/19/18 at 5:59 am to upgrayedd
quote:upgrayedd, "these people" think the three branches of government are the Senate, House, and Presidency. They are painfully ignorant.
How do these people not understand the difference between a tax break and giving entities money
Posted on 11/19/18 at 7:28 am to SlowFlowPro
quote:What about those (like me) thst worked their asses off and skipping semesters to pay cash? Why are they getting punished for that?
yeah i've posted this before but if SL debt is forgiven i want a fricking check or i may snap
i sacrificed a ton to pay off the majority of mine early
Posted on 11/19/18 at 7:29 am to Taxing Authority
That's me too. I worked until midnight most nights to pay cash.
Posted on 11/19/18 at 7:34 am to Tiguar
quote:
but if you're giving a company special treatment, I mean, why not?
the biggest argument is return on investment
Amazon has a lot better chance to positively impact the locality than a random sample of people* having loans forgiven
*people...with a questionable history of financial decision making already
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