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 saying
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.
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 true
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
None of that is true
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.
which part is not true?
That used to be my position, but I've softened somewhat.
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
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."
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.
Last edited by limitles; 05-04-2025 at 11:42 AM.
"The founding fathers did not like the idea of the tyranny of the majority ruling the country"
Dan Druff
“I don't know what weapons World War III will be fought with, but World War IV will be fought with sticks and stones.”
Albert Einstein
"Yesterday is history, tomorrow is a mystery, but today if a gift
and that is why it's called the present"
Eleanor Roosevelt
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.
Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same.
Ronald Reagan
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?
There are currently 3 users browsing this thread. (0 members and 3 guests)
Reply With Quote