Forgive Student Loans?

[Orangeburst]

Not sure I’m following. Even during 2008 if you put down less than 20% you had to pay PMI. That was paid to the lender by private insurance companies. But if you were under the loan amount maximum (was like $450k in 2014. We weren’t under it then ) then the Feds backed your note generally on a confirming loan.

So the feds basically control FM2 to allow mortgage loans and all backed up by federal PMI? How did we let it get to this with Fed tentacles all over the place.

 

[norrislakevol]

Wonder how much government assistance a lot of these people are getting?

Why is every locally owned convenience store owned by a foreigner? They are more thrifty I am sure, but what else?[/QUOTE]

You know, God bless em, at least they are doing something productive and are happy to do so. However, I am pretty sure that they get tax breaks that regular Americans don't enjoy. So how is this fair?

 

[AM64]

It's one of many reason I laugh when they bash Biden for inflation. You don't think the lasts guys policies caused this too? It's nuts. Two peas in a very similar pod.

Congress controls spending. Presidents may request, but it's still up to congress. Notice Trump never got funding for a border wall - he did request several times.

Remember the shutdowns when presidents refused to support increased debt - and where the blowback always goes - not congress if you need a refresher. It's a stupid game in reality because the spending is going to happen, and bureaucrats get some time off without being charged leave ... and then get paid for it. Still it's hard to believe people actually feel sorry for the DC con artists.

 

[AM64]

Not this guy. I liked Trump, but he needed to be more fiscally conservative. He is a guy with a lot of stones, but went along with the lock downs. In hind sight, he should have said that any state that locks down gets zero federal funds. Shutting down the economy was 100 percent stupid by both parties.

Yeah, well, Trump "withheld" federal fund to Ukraine; we know how that went over, and Ukraine isn't even a state.

 

[volfanhill]

Congress controls spending. Presidents may request, but it's still up to congress. Notice Trump never got funding for a border wall - he did request several times.

Remember the shutdowns when presidents refused to support increased debt - and where the blowback always goes - not congress if you need a refresher. It's a stupid game in reality because the spending is going to happen, and bureaucrats get some time off without being charged leave ... and then get paid for it. Still it's hard to believe people actually feel sorry for the DC con artists.

You are not acknowledging the POTUS real power in this. How dose a POTUS shut down the government? Then on top of that Trump was all About some Covid spending. Hell he even promised to spend more then Biden if re-elected. Oh I forgot another truth we are just to ignore

 

[LouderVol]

So the feds basically control FM2 to allow mortgage loans and all backed up by federal PMI? How did we let it get to this with Fed tentacles all over the place.

Everyone wanted to stay comfy. Everyone wanted to believe their way meant no pain. Everyone was willing to trade long term security for temporary gains. No one wanted to admit they or their policies, were wrong. Everyone was willing to blame the other guy while not making necessary changes to their self.

 

[AM64]

I was in Sams Club yesterday and most of the people in there are from other countries and were interacting in other languages.

Wonder how much government assistance a lot of these people are getting?[/QUOTE]

A lot of them are pushing the industrial sized flat carts and look like they are buying for an army.

 

[volfanhill]

Look no further than UTC. They build some multi million dollar library years ago. Like 4-5 stories...where are the books? In the basement all bookcased up and no one around. The Starbucks out front had lots of activity though.

That Starbucks is paying an ass load of rent

 

[AM64]

I think it should be extinguishable however I think you’re over estimating the cognitive ability of the nominal dumbass that takes on $100k in debt for a history degree with a minor in English. That’s all.

All things considered the lenders handing out money for worthless degrees should take a hit - problem is the government will make them whole like 2008, so nobody learns a lesson.

 

[LouderVol]

Wonder how much government assistance a lot of these people are getting?[

A lot of them are pushing the industrial sized flat carts and look like they are buying for an army.

That's kinda the point of Sam's club. You dont go in there for a stick of gum.

 

[volfanhill]

Where did TJ get his money to buy the Texaco? Say $500K...he gets preferred minority financing, no collateral . No doubt in my mind.

Edit: This quotation stuff started with someone else. Rather funny atp

Show me where banks give preferred minority financing? I mean I could see some fed program but I am unaware of it.

 

[AM64]

So the feds basically control FM2 to allow mortgage loans and all backed up by federal PMI? How did we let it get to this with Fed tentacles all over the place.

I think dems believed it was a right for people without means to own a house they couldn't pay for. Really drove home prices though; and when it all crashed, the homes people couldn't afford weren't worth the loan value. Right now, I'd almost bet The Crash v2 on houses and vehicles will come due soon. Government policies are often part of the bubble blowing process. Anybody know what happened to all the debt that renters and mortgagers were able to avoid in 2020?

 

[AthensVol2007]

A tale of two Dads-

Dad 1 never owned a new vehicle, bass boat, 4-wheeler, pontoon, camper, took lavish vacations, had an expensive gun collection, expensive fishing equipment or really did anything frivolous ever. After saving, scratching, clawing, working long hours and investing, he accumulated $150k. He bought each child a sensible new vehicle that would last 10+ years and gave each child $50k for college and said do what you wish...go to community college and pocket the rest, go be a doctor and figure out the rest of it. Both did well with their funds and education.

Dad 1's coworker Dad-2 constantly traded for a new full size GMC. Last count was 6 new trucks in the last 8 years. He's had multiple bass boats with each being more impressive than the last. He's upgraded campers several times and now has a 5th wheel. Skiing is also a big thing for Dad 2. Poor Dad 2 says "well, my kids are almost done with high school and we have nothing for them. We just couldn't afford to put any money back for them." Dad 2 has a higher salary than Dad 1.

Dad 1 will be livid if the debt of Dad 2's kids is magically wiped away.

You sound like me, while dad #2 sounds like my wife asking why we can’t have or do what dad/family #2 does. My answer to her is always because we don’t want to be in dad/family #2’s shoes when we’re 50.

 

[AM64]

You are not acknowledging the POTUS real power in this. How dose a POTUS shut down the government? Then on top of that Trump was all About some Covid spending. Hell he even promised to spend more then Biden if re-elected. Oh I forgot another truth we are just to ignore

You don't think congress would have come up with handing out covid money without the Trump suggestion? In limited amounts and in a time of emergency and uncertainty, it made sense just to keep the economy going. Problem is the bill should have been sent to China and wasn't.

 

[volfanhill]

You don't think congress would have come up with handing out covid money without the Trump suggestion? In limited amounts and in a time of emergency and uncertainty, it made sense just to keep the economy going. Problem is the bill should have been sent to China and wasn't.

You don't think he could have stopped it? You know how shutdowns work right?

Let's be real here for a sec:

Do you give Biden the same pass? **** em both. How about you?

 

[AM64]

You don't think he could have stopped it? You know how shutdowns work right?

Let's be real here for a sec:

Do you give Biden the same pass? **** em both. How about you?

No, I don't give biden a pass. He has (or at least had) enough support from the press, the fed bureaucracy, and locked arm in arm congressional dems. Not to mention a loaded election system in some key places. I think biden has had enough passes not to need mine.

 

[AM64]

You don't think he could have stopped it? You know how shutdowns work right?

Let's be real here for a sec:

Do you give Biden the same pass? **** em both. How about you?

Sure .gov stops doing stuff, bureaucrats take a holiday, people get unhappy, the impasse ends - with the agreed spending, and the bureaucrats filter back to an even bigger backlog than they left and get back pay. That about right?

 

[AthensVol2007]

Look no further than UTC. They build some multi million dollar library years ago. Like 4-5 stories...where are the books? In the basement all bookcased up and no one around. The Starbucks out front had lots of activity though.

A question I had never thought of but what is the point of a library on a college campus anymore? I can only assume that many were obviously built before everyone had a computer and that was the way of looking up information. In my 4 years at UT I only used the library as a place to study away from distractions of the fraternity house. I never actually needed anything that was in it lol.

 

[norrislakevol]

A lot of them are pushing the industrial sized flat carts and look like they are buying for an army.

It's because they are. Sometimes 20 people will live in one trailer.

 

[Wireless1]

AOC makes $174,000 a year (plus all the perks)

I paid off my Undergrad & Business school loans long before I hit six figures.

She couldn’t afford to rent a DC apartment when she was elected. Her constituents were idiots to elect her….economics degree….

 

[mr.checkerboards]

Also, you need to ask yourself why in the world should college cost that much? That is an indication that the system is badly in need of reforming... or finding some other way.

This as much as anything. College costs way more than it should.

 

[overseasorange2]

Students and former students looking for forgiveness can seek Christ. I’m against government student loan bailouts in any form.

What's interest rate does he charge?

 

[ButchPlz]

AOC makes $174,000 a year (plus all the perks)

I paid off my Undergrad & Business school loans long before I hit six figures.

I've got my masters paid off and my undergrad is ready to be paid off (hanging on to the cash until this zero-interest period ends), plus I am buying property and investing money. I don't make six figures yet. I'm just not an idiot trying to chase what everyone else has.

 

[overseasorange2]

You accepted a loan, repay it. Yet to see the issue here.

I think they call that being responsible. Made your bed, sleep in it.
Unheard of these days.

 

[C-south]

It's because they are. Sometimes 20 people will live in one trailer.

Some here stock their stores with stuff they buy at Sam’s and Costco.