https://x.com/EndWokeness/status/1915500363701944366
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Quote:
Originally Posted by desertrunner
One could argue that the lender should have known this idiot would never pay their loan back from the start. But not giving it a loan would be “racist”.
I've thought a bit more about this.
Here's a fair compromise to those with outstanding student loans:
1) Re-caclulate interest retroactively, according to CPI inflation rates. Charge interest for each year based upon that, and re-figure it based upon payments already made.
2) Give a partial forgiveness based upon average income since the loan was taken. Those making good money get zero forgiveness, while those who have made little to no money get a large forgiveness. But even the largest forgiveness will still have to pay back something.
3) Give full forgiveness to the small percentage of people who attended scam schools.
Additionally, completely reform the student loan program. Only provide such loans for certain majors and career paths which are aimed at clear careers in industry. At the moment, anyone can get student loans, even if they want to major in something mostly useless.
Finally, restrict student loans to public colleges. Give reduced tuition to those who qualify for such loans.
My idea is to keep the loans in place, but reduce to 0% interest. This will allow the borrow to finally catch up and become a more contributing member of society.
Got run over by a car am disabled so all of my Student Loans got discharged, still a contributing member of society as your sayingQuote:
Originally Posted by desertrunner
They can't expect disabled people to pay off all that debt, obviously. Is it a Loophole idk, but when learned of it and being disabled I took advantage of it immediately. And fortunately it worked, all my students are Discharged and gone now. And it's been 3 years since discharge so now they are 100% gone actually, i'm just not allowed to take more student loans again, and wouldn't want them now.
Quote:
Originally Posted by garrett
Why shouldn't the taxpayers expect a disabled person who rec'd over a million dollars in hand to pay off his student loans with a small percentage of his settlement?
None of that is trueQuote:
Originally Posted by TellafriendQuote:
Originally Posted by garrett
Why shouldn't the taxpayers expect a disabled person who rec'd over a million dollars in hand to pay off his student loans with a small percentage of his settlement?
After hospital bills and lawyer fees got much less in the end but spent it all on a house, which went way to in value since 2020 and was sold, My student loans got discharged because I'm disabled can't be expected to pay them back now.
Just never can take student loans again and wouldn't
Quote:
Originally Posted by garrettNone of that is trueQuote:
Originally Posted by Tellafriend
After hospital bills and lawyer fees got much less in the end but spent it all on a house, which went way to in value since 2020 and was sold, My student loans got discharged because I'm disabled can't be expected to pay them back now.
Just never can take student loans again and wouldn't
which part is not true?
Getting 100k that was the settlement amount, but hospital bills and lawyer fees get paid first. You only get the remainder after. Which I invested in to a home with my mother.Quote:
Originally Posted by TellafriendQuote:
Originally Posted by garrett
which part is not true?
That used to be my position, but I've softened somewhat.Quote:
Originally Posted by desertrunner
I decided it wasn't fair to saddle people with lifelong massive debt just because they were talked into taking a dumb loan at 18. There is zero guidance regarding when it's smart or not smart to take out such loans. You just were taught to take out a loan to go to college (if your parents couldn't afford it) because that was the next step in life.
Truthfully, if you're not in college on a clear path to a real career, you shouldn't be taking out loans to go there. And it's not fair to these 18-year-olds that they're encouraged to do this, with the belief everything will work out at the end.
At the same time, in general I don't think loan forgiveness of any kind is a great idea.
My compromise posted above seems like a more reasonable solution. Look at how people have done since college. Give a certain number of years to determine this. Connect payback to their income, on a sliding scale. Forgive all loans for scam colleges.
The Feds should not offer 0% loans or loans of any kind. The whole thing has gone off the rails.
There was a time when scholarships (merit based filtering) and local banks offered money. God forbid part time jobs.
But $90k/yr sounds like a plan Druff.
this is fucking art
Quote:
Originally Posted by desertrunner
I need to clarify, when I say “zero interest”, I mean on existing loans, NOT future loans.
Future loans, I have no comment as I don’t know the best routes.
"Student loans are owned by the federal government or private institutions, depending on the type of student loan. Federal student loans are owned by the U.S. Department of Education while private student loans are owned by the financial institution that granted them."Quote:
Originally Posted by Sanlmar
Throw this problem and many more on the deregulation bandwagon.
Name a burning issue in your country and it will likely lead you to
legislation brought in to deregulate.
Forget about the homeless, the impoverished, veterans or anyone needing assistance from their country for a second.
Let's impede the life force of any nation, the youth.
Let's discourage higher learning. Never mind the exorbitant tuitions let's exact every penny we can on the backs of our future.
Why is the private sector allowed? Because the private sector has greased enough palms. That is it. No hedge fund manager is going
to leap from a tall building if restricted from taxing our youth.
I think it will be more widespread than liberal women. Student loans, the ridiculous rise in college tuition, and ridiculous interest rates has created a slave state. Granted you are a dummy to buy into it but the grift was great.Quote:
Originally Posted by desertrunner
are you saying the folks who bought into getting their degree on their time, in their pajamas from home weren't victims of predatory lending?
All I know is my kids last year of college made me almost lose my shit esp when she decided to get in 2 car accidents fucking my insurance. I’m just saying that I don’t regret paying cash or giving her a great college experience fully paid which gave her a good job, but that last year was rough.
I can’t imagine taking on that debt and watching interest grow while trying to live. It’s not possible for most.
The entire college tuition scam needs to be dismantled, at least at the public university level.
There is absolutely no reason that in-state tuition at public schools has outpaced inflation by a massive amount, but it has.
My first year of college (1990-91) was $1800 tuition at a state school.
That's $4400 today after inflation.
Therefore, any tuition for in-state residents over $5k is an overcharge.
The same school's tuition for 2025-26? $15k.
So it's over 3x as high as it should be.
The private schools have adjusted accordingly, so those are ridiculously expensive now. But they can charge what they want. Public college shouldn't be $60k for 4 years.
The solution isn't to have the government just foot the bill. The solution is to get these schools' spending under control, and make them exist within their previous means.
Quote:
Originally Posted by Dan Druff
Probably a middle ground to be found here.
50 years ago a Dr in medicine you needed some books, a sharp scalpel and a cadaver or two to practice on.
Now its a lot more advanced.
I dont disagree with you overall point but the avg student is getting a lot more education/training pound for pound than they used too.
Of course this only applies to some degrees and not others.
I suspect your inflation numbers are fugazi. CPI/PPI has no connection with the real worldQuote:
Originally Posted by Dan Druff
College lending is inflationary, of course.
the problem is most students aren't getting useful degrees. just going bc they "are supposed to" or not ready for the real world.
Unfortunately this is not true, my son in law has a good job and a masters, but how do you crawl out of debt from student loans with a wife, kid and one on the way, with wife staying home with part time job cuz her working full time does not compute with childcare costs. Compounding interest….Quote:
Originally Posted by Tellafriend
Gonna ask total loan debt tomorrow. Kinda scared to tbh but will be my next challenge. Us oldies need challenges, it keeps us going.
Finishing up on flooring in basement, this is not cheap, nothing is but can be turned into separate rental when done. Will add greatly to selling price.
Never retire. It’s not good for you, just change to what you like to do, not what you have to do.
Remember the 50’s, dad worked mom stayed home, had enough for house, travel, education.
We are being fucked.
My kid and his girlfriend…. cause no one gets married anymore….. are fixing up a place. He’s putting in hardwood and she’s doing a tile backsplash in the kitchen. He’s worked so many nights after work and weekends. He has no previous carpentry experience of any sort. Prolly bought his first hammer. Learning takes a lot of hours.Quote:
Originally Posted by splitthisUnfortunately this is not true, my son in law has a good job and a masters, but how do you crawl out of debt from student loans with a wife, kid and one on the way, with wife staying home with part time job cuz her working full time does not compute with childcare costs. Compounding interest….Quote:
Originally Posted by Tellafriend
Gonna ask total loan debt tomorrow. Kinda scared to tbh but will be my next challenge. Us oldies need challenges, it keeps us going.
Finishing up on flooring in basement, this is not cheap, nothing is but can be turned into separate rental when done. Will add greatly to selling price.
Never retire. It’s not good for you, just change to what you like to do, not what you have to do.
Remember the 50’s, dad worked mom stayed home, had enough for house, travel, education.
We are being fucked.
It’s so interesting to hear them talk about the projects. This is the good stuff. Nobody should swoop in and pay for a contractor for them and corrupt the experience.
How about that contractor? There was a time when able and intelligent kids could not afford to go to college. They learned a trade and as likely as not built a business that exceeded the accounting classmate. College wasn’t a birth right. The economy worked then.
The contractors I know all have multi family rentals where their buddies in different trades like electrical and plumbing all swap skills on the weekend. Tips cap.
As AI renders experts and masters degrees less and less valuable the college degrees will be even more -EV. That’s what used to be capitalism at worked fine tuning shit. Druff’s kid should get into HVAC. Nobody needs a programmer.
.gov should GTFO of higher ed. Period. Towns will decide what public education will be offered.
I'm the resident Flooring expert lol, self appointed of courseQuote:
Originally Posted by splitthisUnfortunately this is not true, my son in law has a good job and a masters, but how do you crawl out of debt from student loans with a wife, kid and one on the way, with wife staying home with part time job cuz her working full time does not compute with childcare costs. Compounding interest….Quote:
Originally Posted by Tellafriend
Gonna ask total loan debt tomorrow. Kinda scared to tbh but will be my next challenge. Us oldies need challenges, it keeps us going.
Finishing up on flooring in basement, this is not cheap, nothing is but can be turned into separate rental when done. Will add greatly to selling price.
Never retire. It’s not good for you, just change to what you like to do, not what you have to do.
Remember the 50’s, dad worked mom stayed home, had enough for house, travel, education.
We are being fucked.
Grew up in a small hardwood flooring business in New Jersey my father owned, so worked in too of course..
So what did you do basement means subfloor so its either Glue Down tile or linoleum. Solid nailed down 3/4 inch wood in Ohio would be sanding and refinishing but subgrade, so in the basement you likely dont have nail down floors as there is no Plywood subfloor to nail into, in the basement. Its usually a glue down to the concrete slab. Anyway SplitThis talking flooring perked my interest, curious what you did if you dont mind??
I grew up doing hardwood floors..Quote:
Originally Posted by SanlmarMy kid and his girlfriend…. cause no one gets married anymore….. are fixing up a place. He’s putting in hardwood and she’s doing a tile backsplash in the kitchen. He’s worked so many nights after work and weekends. He has no previous carpentry experience of any sort. Prolly bought his first hammer. Learning takes a lot of hours.Quote:
Originally Posted by splitthis
It’s so interesting to hear them talk about the projects. This is the good stuff. Nobody should swoop in and pay for a contractor for them and corrupt the experience.
How about that contractor? There was a time when able and intelligent kids could not afford to go to college. They learned a trade and as likely as not built a business that exceeded the accounting classmate. College wasn’t a birth right. The economy worked then.
The contractors I know all have multi family rentals where their buddies in different trades like electrical and plumbing all swap skills on the weekend. Tips cap.
As AI renders experts and masters degrees less and less valuable the college degrees will be even more -EV. That’s what used to be capitalism at worked fine tuning shit. Druff’s kid should get into HVAC. Nobody needs a programmer.
.gov should GTFO of higher ed. Period. Towns will decide what public education will be offered.
I remember these pictures and more.Quote:
Originally Posted by garrett
I grew up doing hardwood floors..
I have just one word to say to you, Garrett
https://youtu.be/Dug-G9xVdVs?si=txs5ZeaJJBqqkFKs
That's Select Red Oak lumber so no Knots or impurities, looks great stained to match your decor and furniture
#1 and #2 lumber is Firewood in theory with lotta knots and impurities, Select Lumber costs more which gets passed onto the consumer of course..
Here's another me edging a set of steps, which is really hard work and sux..Quote:
Originally Posted by SanlmarI remember these pictures and more.Quote:
Originally Posted by garrett
I grew up doing hardwood floors..
I have just one word to say to you, Garrett
https://youtu.be/Dug-G9xVdVs?si=txs5ZeaJJBqqkFKs
Sanlmar I don't come from wealth or money, my father didn't even graduate high school which he was proud of apparently lol..
I bought 24” by 8” premium ceramic on auction, rented a U-Haul and took all boxes downstairs, no easy task. I have a cement floor in basement. I do not like the idea of anything else in a basement but ceramic. To me, a so called moisture barrier over concrete, then whatever awful laminate sounds gruesome. They say it’s waterproof but I call bullshit. I also don’t like a barrier over concrete. This is a new phenomenon and needs time tested. It fails in my eyes. I feel there is little chance of anymore settling of concrete after more than 80 years.Quote:
Originally Posted by garrettI'm the resident Flooring expert lol, self appointed of courseQuote:
Originally Posted by splitthis
Grew up in a small hardwood flooring business in New Jersey my father owned, so worked in too of course..
So what did you do basement means subfloor so its either Glue Down tile or linoleum. Solid nailed down 3/4 inch wood in Ohio would be sanding and refinishing but subgrade, so in the basement you likely dont have nail down floors as there is no Plywood subfloor to nail into, in the basement. Its usually a glue down to the concrete slab. Anyway SplitThis talking flooring perked my interest, curious what you did if you dont mind??
The second hardest part was finding someone to install. Tons of estimates and finally went with a self employed older guy who has been meticulously installing. Should be done next week. He will be hired for the remaining projects in this house.
SplitThis WoW this is like 10th Level real flooring problems..Quote:
Originally Posted by splitthisI bought 24” by 8” premium ceramic on auction, rented a U-Haul and took all boxes downstairs, no easy task. I have a cement floor in basement. I do not like the idea of anything else in a basement but ceramic. To me, a so called moisture barrier over concrete, then whatever awful laminate sounds gruesome. They say it’s waterproof but I call bullshit. I also don’t like a barrier over concrete. This is a new phenomenon and needs time tested. It fails in my eyes. I feel there is little chance of anymore settling of concrete after more than 80 years.Quote:
Originally Posted by garrett
The second hardest part was finding someone to install. Tons of estimates and finally went with a self employed older guy who has been meticulously installing. Should be done next week. He will be hired for the remaining projects in this house.
:applause
A 'Moisture Barrier' is necessary especially in a wet environment (Florida), all sub level areas have moisture. So the moisture barriers even Grade level is necessary, so the Wood Floors do not Warp over time (or CUP..). Floors when they get too moist move dimensionally and eventually will Cup up, big problem and total waste (Costs..) of Lumber and Labor (time) for the effort involved. You never want this to happen and where I live now Florida, Moisture Barriers because we are so moist and humid down here are necessary when doing Floors over Plywood Sub-Floors, you do need a Moisture barrier of course.
Wood is whats called Hygro-scopic which means tends to absorb moisture from the air, and then wood will move dimensionally and can Cup causing big problems sometimes..
Honestly to install Hardwood Floor here in Florida over Concrete Slab, so were nailing down plywood subfloor too over the concrete is probably $25-$50 a Square Foot, if I wanted it
Do the math, $25-$50 a Sq. Ft Multiplied by many thousands of Sq Feet (Houses..)=$$$
(Would include me buying the materials so lumber..)
An example of a very complicated but also expensive job in Jersey where im from was, 3,000 Sq Ft of Select Red Oak, over Radiant Sub Floor Heating. So the Nail down flooring can never puncture a subfloor heat line, which is moisture that runs in the plywood subfloor in veins inside of it, but you cant ever puncture one of them lines or else the moisture will then leak out and cause massive massive problems, water damage is the biggest nightmare in hardwood flooring. Obviously Water and Wood do not match. I installed 3k Sq. Ft. of Select Red Oak over top of Radiant Sub Floor heating. Radiant Sub Floor heating is subfloor plywood pieces that have lines in them of warm moisture, so your floors are always warm and then your house will be too. Its smart but VERY expensive to do a whole radiant sub floor Select Red Oak Flooring Job.
I think this Job we got about 75-80k for (Wood Floor Job..) and it took maybe 3-4 months to complete and be paid..
The amazing part of this all is, being a Student Loan Forgiveness thread lmao I had Student Loans too...
Since I got run over by a car and ended up Disabled, all my student loans were discharged and now im 100% debt free which is absolutely amazing. And if i ever told you that never would I of ever expected to live in this situation or be disabled, I never would have so sometimes im learning as I go too now actually. I learned The Federal Goverment cant expect disabled people to pay Student Loan Debt, so if approved you can have all your Student Debt discharged, which mine was. I got lucky honestly I know this, fortunate and from being run over by a car, it makes little sense..
And no one can come back to me and say I owe them its been 4 years I am now DEBT FREE, thank GOD!
Quote:
Originally Posted by SanlmarI suspect your inflation numbers are fugazi. CPI/PPI has no connection with the real worldQuote:
Originally Posted by Dan Druff
College lending is inflationary, of course.
That's a very misleading chart, given that it's Yale and based upon gold.
CPI is off sometimes, especially during shorter periods of high inflation, but it's somewhat of a guide to things.
I also hate "room and board" listed prices because that's subjective. That's lifestyle dependent. You could live in a mansion and eat caviar every night, or you could sleep on a park bench and dig through the trash for food. It's personal (or at least personal regarding what your parents want to pay) regarding your living expenses.
Tuition should be the calculation. It's gone way up. Lots of it has to do with the availability of student loans. Some is just plain greed by the government-owned schools.
They need to roll this back.
Sanlmar change your Avatar please
Smoking is terrible and looks like total scumbag shit, I've never smoked a cigarette in my life ever, you seem to glorify smoking??
I do not like it!