School Loan Forgiveness and Free Education

[Delta0311]

Bernie is stepping up the voter bribe game by offering to use taxpayer funds to pay off student debts. At this point almost all the democratic candidates are trying to bribe the voter base. The Democrats of old are gone, we now have full blown socialists.

[Genieman]

Originally Posted by Delta0311

Bernie is stepping up the voter bribe game by offering to use taxpayer funds to pay off student debts. At this point almost all the democratic candidates are trying to bribe the voter base. The Democrats of old are gone, we now have full blown socialists.

Right, and he's saying the funds will come from a tax on financial transactions. So not only will the loans be forgiven, but it will be implemented at the expense of crumbling our entire financial system.

[G35POPPEDMYCHERRY]

why would ur debt just be forgiven. like the fuck.

[gatorfast]

And what if you dont have student debt but still went to college? Why does the person with the loan get a free ride but the person who paid in full does not?

[HyeWarrior]

I'd be happy with just eliminating the ridiculous interest rates if anything. Pls

[Delta0311]

Originally Posted by gatorfast

And what if you dont have student debt but still went to college? Why does the person with the loan get a free ride but the person who paid in full does not?

Welcome to bizarro world. You did it the right way so you get jack shit but those who went to expensive schools and studied useless majors will be taken care of.

[UncleWede]

Well, you guys all paid for my Master's degree (taxes spent on government employees going to college) so Thank You.

I had to pay for my own matriculation expenses and my own sealed degree plaque.

[2000cs]

Those who worked through school and have no debt? Sorry.
Those who had student debt and paid it off? Sorry.
Those whose families saved and sacrificed to pay for school so the student could emerge debt-free? Sorry.

My dad used to say “There is nothing fair or just in this world” and I think he was right.

All that said, there is a real problem of people with large loans outstanding and likely no ability to repay in any reasonable time. Can’t really be refinanced, and bankruptcy proof (which I understand given that the borrowers were not credit worthy). To some extent these people were screwed by incomplete information/understanding when they entered college, decided on majors and signed up for the loans. Personally I think the colleges should be making this right - they promised good degrees as an entree to the job market (instead of selling education for its own sake, which will never repay a loan), and encouraged debt while allowing their costs and tuition (plus room and board) to escalate well beyond inflation for decades. I wouldn’t ask taxpayers to foot the bill before the university legal, financial and endowment options have been fully exercised.

[obe100]

...but bankruptcy protection is OK?

Debt is debt right?

[gjm120]

Originally Posted by obe100

...but bankruptcy protection is OK?

Debt is debt right?

Brilliant idea - those with big school debt just declare bankruptcy?

There are consequences though like no credit for a long time after that.

[hooligan_COLD]

Originally Posted by G35POPPEDMYCHERRY

why would ur debt just be forgiven. like the fuck.

Why do you type like a tween girl?

If you're truly interested in why Bernie wants to do this, I'm betting his website lays it all out for you.

[Genieman]

Originally Posted by gjm120

Brilliant idea - those with big school debt just declare bankruptcy?

There are consequences though like no credit for a long time after that.

You can't do that. Only retail unsecured debt is dischargeable through bankruptcy. Govt debt or govt backed unsecured debt is not dischargeable.

[Delta0311]

Originally Posted by obe100

...but bankruptcy protection is OK?

Debt is debt right?

But my tax money should also pay for your education right.

[gjm120]

Originally Posted by Genieman

You can't do that. Only retail unsecured debt is dischargeable through bankruptcy. Govt debt or govt backed unsecured debt is not dischargeable.

So if the borrower just never pays they never get credit approval? Beats debtor prison

[Genieman]

Originally Posted by gjm120

So if the borrower just never pays they never get credit approval? Beats debtor prison

You basically have to pay or your credit goes to sh1t. And you can't get rid of it in bankruptcy and it will stay bad debt forever and you'll never get a credit card or mortgage ever again.

[DonaldPump]

And the supporters of these candidates are brain dead enough to actually believe these will be “free”.

Free = taxpayer funded

[Run Silent]

Originally Posted by gatorfast

And what if you dont have student debt but still went to college? Why does the person with the loan get a free ride but the person who paid in full does not?

^This times a thousand! For ever person that gets a loan forgiven, there are several more that either busted ass and graduated with no debt or already paid off their loans. I am sure not all of them are Republicans. How do you combat the "what about me?" issue for all of those folks?

Originally Posted by HyeWarrior

I'd be happy with just eliminating the ridiculous interest rates if anything. Pls

How are they ridiculous? They are like 6%ish for a completely unsecured loan that is typically given to nearly anyone regardless of credit. If anything, loan rates are too low and are artificially subdued due to the inability to BK student loan debt.

Originally Posted by gjm120

Brilliant idea - those with big school debt just declare bankruptcy?

There are consequences though like no credit for a long time after that.

Student loan debt is not bankruptable.

[G35POPPEDMYCHERRY]

Originally Posted by hooligan_COLD

Why do you type like a tween girl?

If you're truly interested in why Bernie wants to do this, I'm betting his website lays it all out for you.

okay attack my typing as if that has to do with anything lol.

i'm not interested at all. you have debt and it shouldn't be forgiven. think before you spend.

[adc100]

Funny that the Dems promise all this shit to people that vote for them anyways. To people with half a brain they look like morons promising all this stuff. More and more its the party of the retarded, but that's shows where the U.S. is headed.

Like I've said I'm 73 so it won't physically affect me..just mentally.

[TheWatchGuy]

Originally Posted by 2000cs

Those who worked through school and have no debt? Sorry.
Those who had student debt and paid it off? Sorry.
Those whose families saved and sacrificed to pay for school so the student could emerge debt-free? Sorry.

My dad used to say “There is nothing fair or just in this world” and I think he was right.

All that said, there is a real problem of people with large loans outstanding and likely no ability to repay in any reasonable time. Can’t really be refinanced, and bankruptcy proof (which I understand given that the borrowers were not credit worthy). To some extent these people were screwed by incomplete information/understanding when they entered college, decided on majors and signed up for the loans. Personally I think the colleges should be making this right - they promised good degrees as an entree to the job market (instead of selling education for its own sake, which will never repay a loan), and encouraged debt while allowing their costs and tuition (plus room and board) to escalate well beyond inflation for decades. I wouldn’t ask taxpayers to foot the bill before the university legal, financial and endowment options have been fully exercised.

Did colleges really force people to take worthless degrees that dont have any real job prospects, or did people get those degrees because it was easier or more interesting than a degree in a field that actually has a need for workers and pays well?

its not the colleges fault that Eric the Barista got a poly sci or art history major and has no job prospects. That falls on the student, and the parents

[TheWatchGuy]

this whole thing sucks for those that either busted ass during school or busted ass after school to get those loans paid off.

if only i had known it would be forgiven, i woulda gone out and bought an m3 right out of school like so many of the tards do that are now crying about their loans.

[gjm120]

Originally Posted by adc100

Funny that the Dems promise all this shit to people that vote for them anyways. To people with half a brain they look like morons promising all this stuff. More and more its the party of the retarded, but that's shows where the U.S. is headed.

Like I've said I'm 73 so it won't physically affect me..just mentally.

I think now it's about getting the nomination. Then it will be aimed and getting the voter turnout up. Think about the Dem's talk about lowering the voting age to 16. Might as well lower to 12 and promise free video games.