Historic Student Loan Relief

[RainbowsandUnicorns]

https://twitter.com/EricKleefeld/status ... 9122227201

[Deleted User 863]

Why are people in student loan debt more worthy/in need of relief than those people in medical debt?

[DrPepper]

You can file for bankruptcy with medical debt. It takes some time, but you actually get your life back at some point. It seems that recent student loans may have a high enough principal and interest rate that they grow faster than one can pay them down, so they never end (and you can't discharge a student loan in a bankruptcy).
And, maybe somebody will get to medical debt eventually. We have to pay off the rich, the banks, the autocompanies, keep the airlines going, prop up big oil, etc first.

[MICHHAWK]

if you voluntarily put yourself into debt. you should be expected to get yourself out.





if i go buy a car i cannot afford. will the taxpayers bail me out.

[pdub]

Depends on who you are.

[DrPepper]

The banker, unless they are predatory, will not lend to you if they do not think you can not repay the car loan. Nor will they lend you money to buy a car that is not worth what you pay for it. And if you do not pay, they can repo the car, sell it, and get a little something.

[MICHHAWK]

then maybe we should repo their degrees.



if you're going to repo my car.


something to think about.

[Cascadia]

The banker, unless they are predatory, will not lend to you if they do not think you can not repay the car loan. Nor will they lend you money to buy a car that is not worth what you pay for it. And if you do not pay, they can repo the car, sell it, and get a little something.

It’s sad that so many people can’t comprehend this.

[TDub]

The banker, unless they are predatory, will not lend to you if they do not think you can not repay the car loan. Nor will they lend you money to buy a car that is not worth what you pay for it. And if you do not pay, they can repo the car, sell it, and get a little something.

then what happened in 2008?

I have known many people that got loans on cars they couldn't afford, and it was obvious. The bank would give them 15-20% interest and then assume they would make the money on it until they went to repo it.

In theory your ideas are correct, but that isn't the reality of many situations.

[ousdahl]

how many of these student (or other) loans are compounding interest or whatever?

As in, you may end up paying more in interest than the loan was worth in the first place.

[DrPepper]

I imagine some writing letters to the editor complaining that they have to pay school taxes when they do not have kids. And that their tax money goes to others' mortgage deductions when they rent an apartment. Yea, it is this couple who live in an apartment and their kids are all grown. They're bitching about their taxes going towards levees in Louisiana and public transportation in Tennessee. They also gripe that their granddaughter's teacher sucks, the weather is too hot, the neighborhood is going to shit, and that their medical doctors speak with accents. They can't figure out out higher education is connected to any of this or that we are all in this together. Just me, me, me.

[ousdahl]

I don't have kids of my own, but I'm totally cool with my tax money going to schools.

The fewer idiots out there, the better.

same with infrastructure, disaster mitigation, etc.

[DrPepper]

Well, probably not letters to the editor. They do not believe in paying for journalism. So they just bitch on their $700 phones and succumb to any grifter that will tell them it is not their fault.

[MICHHAWK]

They can't figure out out higher education is connected to any of this or that we are all in this together. Just me, me, me.

as it pertains to student debt payoff. we are not all in this together. only a fairly small %.

[DrPepper]

You don't need nurses, teachers, engineers, etc?
Because all of those go to college to get degrees.

[DrPepper]

And those people get pregnant (that, from the sounds of it, they are now forced to birth), and they won't be able to afford them either.

[MICHHAWK]

in this round of freebies, should those of us who paid off our student debt all by ourselves get something for free from our government.

[ousdahl]

once again, Mich embodies the observation that there are two types of folks in this world:

those who say, "I had to go through this, but others shouldn't have to too"

- and -

those who say, "I had to go through this, so everyone else should have to too"

[CrimsonNBlue]

in this round of freebies, should those of us who paid off our student debt all by ourselves get something for free from our government.

100% fine by me. Call your rep and let them know your idea.

I support it and would not turn down a check for what I paid off.

[ousdahl]

then maybe we should repo their degrees.



if you're going to repo my car.


something to think about.

could we repo the banks?

after all, didn't we bail them out too?