Nowhere did I say I was “ok” with any of it I’m just used to our government screwing things up and this is another one.And you're okay with this arrangement? This is ethical? I'm all for businesses making money, but when the government comes in and creates a condition where only one side of a transaction or agreement is bearing all of the risk and obligations, I think that is where I draw the line.
Also, it is highly likely that these lenders didn't use reserves on hand to issue or refinance these loans, but they likely just printed it out of thin air and then have the gall to charge interest and late fees.
I'm not sure if you and the others have been reading my posts in here or are just blinded by your emotions and rage, but I have not been advocating for debt forgiveness. I have consistently and I thought clearly said "haircut" and said that the borrowers should still be obligated to pay something that is reasonable, yet still has a punitive element in it.
Biden predicting winter:Looks like Joe is predicting his second "dark winter" in a row. Inspiring!
"I want to send a direct message to the American people: Due to the steps we've taken Omicron has not yet spread as fast as it would have otherwise done," Biden said in remarks at the White House following his Covid-19 briefing Thursday.
LOL - yes, that travel ban was crucial...
"But it's here now and it's spreading and it's gonna increase. ... We are looking at a winter of severe illness and death for the unvaccinated -- for themselves, their families and the hospitals they'll soon overwhelm. But there's good news: If you're vaccinated and you have your booster shot, you're protected from severe illness and death," the President added.
Looks like Joe is predicting his second "dark winter" in a row. Inspiring!
"I want to send a direct message to the American people: Due to the steps we've taken Omicron has not yet spread as fast as it would have otherwise done," Biden said in remarks at the White House following his Covid-19 briefing Thursday.
LOL - yes, that travel ban was crucial...
"But it's here now and it's spreading and it's gonna increase. ... We are looking at a winter of severe illness and death for the unvaccinated -- for themselves, their families and the hospitals they'll soon overwhelm. But there's good news: If you're vaccinated and you have your booster shot, you're protected from severe illness and death," the President added.
Never said otherwise. You do realize that we actually agree on this with the exception of forgiving those with outstanding loans doncha? And like I said, I would do that if they can prove they got a degree that is worthwhile. As a taxpayer that is on the hook for those loans (if forgiven) I want a return on my 'investment'.Yes, they got paid. It is a corrupt and unethical arrangement.
So close to agreeing with you. Maybe if they join the military for 5 years or so... instead of a college program they get their loans paid off up to a certain level.Not advocating for debt forgiveness. Do you guys not read?
For the last time, govt created this mess between the borrowers and lenders. The lenders were given a one sided deal where they could hand out an unlimited amount of money to any and all borrowers risk free. The borrowers were given loans and in the process helped to drive price inflation in tuition, which made matters worse and were shackled with an obscene and ridiculous debt tab.
Both the borrowers and lenders benefited, but to fix it, the borrowers and lenders must feel some pain and consequences. The borrowers still need to pay back something, but these ridiculous loan amounts of $75k or over (just pulling that out of my azz as an example) for liberal arts degrees or other worthless nonsense is a no-go. Chop it down to where the borrowers have to at least payback a reasonable amount and the lenders get a haircut (from money they created out of thin air anyways).
I'm all for military service for paying off part of college debt, but I don't think the military branches, well except possibly the Air Force, allows Kool Aide hair coloring?So close to agreeing with you. Maybe if they join the military for 5 years or so... instead of a college program they get their loans paid off up to a certain level.
Make better decisions. Just like criminals you are making excuses for people’s bad behaviors and decisionsMost of them were 18-21 years old making these decisions. Most people don't have people around them that are able to advise them of the commitment they are signing on to at that time. And the universities, media and govt doesn't make matters better by encouraging these kids to shoulder these debts. I'm sure most of you had people around you advising you wisely. Me personally, I did not have that... and I am very lucky to not have been in the situation that some of these people are in. Now the people with over $50k in debts for liberal arts degrees... at what point do we start to focus on the lending institutions and government with regards to the decisions they made by throwing more money at these people?
I love how you guys have no issue holding these people fully accountable for decisions they made early in life, but let these Boomers and older Gen-Xers get away without any consequences for their lending practices.
I would rather fix it and let all involved suffer, instead of kicking the can down the road again.I admit it is and done for added effect. But the point is that people way older than these college kids created this system and don't suffer any consequences for any of the boneheaded fiscal decisions they make that affect millions of people. Meanwhile, we seem to have a group that has no problem holding young people accountable on one of the first major lending decisions of their lives that can place them into a lifetime of debt that can't be extinguished or renegotiated on bankruptcy.
Looks like Joe is predicting his second "dark winter" in a row. Inspiring!
"I want to send a direct message to the American people: Due to the steps we've taken Omicron has not yet spread as fast as it would have otherwise done," Biden said in remarks at the White House following his Covid-19 briefing Thursday.
LOL - yes, that travel ban was crucial...
"But it's here now and it's spreading and it's gonna increase. ... We are looking at a winter of severe illness and death for the unvaccinated -- for themselves, their families and the hospitals they'll soon overwhelm. But there's good news: If you're vaccinated and you have your booster shot, you're protected from severe illness and death," the President added.
Borrowing from the infamous jobs saved metric! Set the standard as something can never be known and claim victory.