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Student loan forgiveness

Discussion in 'The Dungeon' started by Pittenger5, Apr 23, 2019.

  1. Pittenger5

    Pittenger5 Well-Known Member

    I know this is going on in another thread, but I had an idea.
    If we HAVE to do something about student loans (I know opinions are varied on that). Wouldnt it make more sense to convert them to 0% interest? I think thats a reasonably fair compromise. Taxpayers are less screwed, and the borrows still owe back what they signed up for.
    It would at least be the lesser of the two evil options.
     
    BigBird and code3ryder like this.
  2. 600 dbl are

    600 dbl are Shake Zoola the mic rula

    You're not going to win the hearts and minds of the millennial with talk like that.
     
  3. G 97

    G 97 Garth

    I’m all for loan modification to a lower rate if it means no forgiveness. Set it at prime or 1 point below. I think the term schedule is already maxed out so not sure if they can or should be extended. But anything to keep them from going into default or a bail out.
     
  4. pickled egg

    pickled egg Tell me more

    Two words:

    Civil fucking Service

    Can't pay your federally guaranteed student loans? Here's a bus ticket to the border, get busy laying bricks on that new fence.
     
  5. sheepofblue

    sheepofblue Well-Known Member

    NO. unless....

    OK if they make it harder to get them and make schools more accountable for selling crap than maybe. Defund big education (see the stealing phrases from their overlords maneuver :Pop:). Get the feds out of education altogether.

    What Warren wants is a blank check written to over paid pieces of crap like her to continue the indoctrination.
     
    tl1098 likes this.
  6. R Acree

    R Acree Banned

    How much forgiveness is required. My daughter has two different types of loans. One from our credit union (payments are $50 per month). the other is a federally guaranteed loan. Payments are dependent on income, adjusted each year, current payments on $30k ish are about $20 per month. That will be adjusted as her income increases or decreases. When she goes back to school, the payments are frozen. She can work and pay it off, or, if her income stays low, she can pay the minimal amount and after 20 years, no more payments are required. I would have been fine with those terms.
     
  7. GRH

    GRH Well-Known Member

    Why do you feel there needs to be a compromise on this? Just because Warren brings it up doesn't mean it needs to be considered.
     
  8. Pittenger5

    Pittenger5 Well-Known Member

    "If we HAVE to do something"
     
  9. code3ryder

    code3ryder Well-Known Member

    holy fuck you mean work together to ya know....compromise? It's something that is crushing people.
     
  10. 600 dbl are

    600 dbl are Shake Zoola the mic rula

    A problem caused by the federal government and stupid students/parents. People looking for the government to bail them out of their problems is getting old.

    [​IMG]
     
    Chris, Newyork and tl1098 like this.
  11. GRH

    GRH Well-Known Member

    That's their problem, make bad decisions, suffer the consequences
     
    cav115 and jksoft like this.
  12. code3ryder

    code3ryder Well-Known Member

    Is it .gov's fault that a text book is several hundred dollars and worth shit on the return? If you want to go to college and are a middle income or middle smart kid, what are your options?

    fwiw, I'm not for forgiving the debt. I just think it's worth talking about to try and fix the system.
     
  13. pickled egg

    pickled egg Tell me more

    What century are you living in?

    GTFO with that personal responsibility and frugality shit. :mad:
     
    Big Sherm likes this.
  14. code3ryder

    code3ryder Well-Known Member

    surely you feel the same for the banks and auto makers that got bailouts, right?
     
  15. TX Joose

    TX Joose Well-Known Member

    The student loan situation is a disaster. Sure they've made some changes but it's too late for a lot current professionals. They were just giving money away to unassuming and uneducated borrowers (broke 18 year olds).
    Kinda like when banks were giving away mortgage loans to folks who couldn't afford them. Remember that?
     
    tl1098 likes this.
  16. pickled egg

    pickled egg Tell me more

    Your options are weigh the cost/benefit and decide if the cost is worth it.

    Duh.
     
    cav115 likes this.
  17. pickled egg

    pickled egg Tell me more

    At least (for a while) you had a place to live...
     
  18. GRH

    GRH Well-Known Member

    yes
     
  19. R Acree

    R Acree Banned

    Actually, yes.
     
    jksoft likes this.
  20. TX Joose

    TX Joose Well-Known Member

    IMO they should give loans out on the students *potential* ability to repay. I mean that's what they do with every other loan right?
    So you're going to study liberal arts and want 10k a semester to pay for school? SURE HERE YA GO. SEE YA IN 20 YEARS
     

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