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Link Posted: 4/27/2019 4:11:11 PM EST
[#1]
Ha ....
Link Posted: 4/27/2019 4:11:45 PM EST
[#2]
You people don't have the votes to stop what's coming.  Republicans have lost the popular election in 6 of the last 7 presidential elections.  Trump may win the popular vote for his reelection, but it is not getting any better after him.
Link Posted: 4/27/2019 4:11:55 PM EST
[#3]
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The left's love of forgiving debt is not only buying votes, but with the sudden "surplus" of now unencumbered money, guess where that is spent?
Link Posted: 4/27/2019 4:15:45 PM EST
[#4]
Link Posted: 4/27/2019 4:15:50 PM EST
[#5]
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Quoted:

They act like they didn't have 4+ years (less for some) to plan for the $600 monthly payment.  Plenty of money for spring break vacations every year, though.
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Its not their fault the evil boomers tricked them into signing for that $100k loan. They could have joined the military, but the military is full of Trump Nazis that will steal your soul for the GI bill.

Then again I laugh because I don't have a college degree and retired at 46.
Link Posted: 4/27/2019 4:17:32 PM EST
[#6]
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Quoted:

Its not their fault the evil boomers tricked them into signing for that $100k loan. They could have joined the military, but the military is full of Trump Nazis that will steal your soul for the GI bill.

Then again I laugh because I don't have a college degree and retired at 46.
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Ah, shit. Everybody drink, Freefall said he is retired.
Link Posted: 4/27/2019 4:19:51 PM EST
[#7]
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Quoted:

Ah, shit. Everybody drink, Freefall said he is retired.
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Link Posted: 4/27/2019 4:21:43 PM EST
[#8]
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Quoted:
The schools shouldn't be selling a broken product, regardless of who will pay for it.
Could a vehicle maker get away with selling something without the seats bolted down? Would the lender be on the hook for that?
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The product isn't broken. Some degrees generate real value, but that's a distraction. Degrees are positional goods for signalling in the job market.
Link Posted: 4/27/2019 4:21:50 PM EST
[#9]
We have so many entitled people today in America that take no responsibility for their bad decisions. Please get your lazy money grubbing hands out of my pockets. There are people in my family that worked three jobs to put themselves through college to earn a real degree.  Today they are debt free with very good jobs and bright futures. My own daughter drove a huge garbage truck to help put herself through college. But myself, I had little money. I went to Vietnam instead of college and afterwards took a job where I could get an apprenticeship to get a trade and never looked back. There are many directions to go out there for young people who don't want to lay on their butts for four or five years running up debt for degrees with little value and expect someone else to pay for it. It’s a cruel world and I am not your sugar daddy.
Link Posted: 4/27/2019 4:22:34 PM EST
[#10]
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Quoted:
Its not their fault the evil boomers tricked them into signing for that $100k loan. They could have joined the military, but the military is full of Trump Nazis that will steal your soul for the GI bill.
Then again I laugh because I don't have a college degree and retired at 46.
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Join big government and you won't have private sector problems.
Link Posted: 4/27/2019 4:28:38 PM EST
[#11]
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Quoted:
You people don't have the votes to stop what's coming.  Republicans have lost the popular election in 6 of the last 7 presidential elections.  Trump may win the popular vote for his reelection, but it is not getting any better after him.
View Quote
Link Posted: 4/27/2019 4:30:43 PM EST
[#12]
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Quoted:

Join big government and you won't have private sector problems.
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Link Posted: 4/27/2019 4:32:00 PM EST
[#13]
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Quoted:

Ah, shit. Everybody drink, Freefall said he is retired.
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Link Posted: 4/27/2019 4:34:23 PM EST
[#14]
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Quoted:

just curious..
when was the last time you made $45-55K from a starter job with a BS degree and had to pony up $600 a month for a loan?

I think $40-50K is the avg starting job after college in Oklahoma
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As a mechanic that started asan apprentice with no schooling I spent 30k in six years in tools. All of that is paid off. I make 50k a year.

Pay your debt kiddies. Life isn't perfect right out of school. No school doesn't lead to a sweet new car and a mansion on a hill right after you graduate. You have to continue to work your way up.
Link Posted: 4/27/2019 4:34:54 PM EST
[#15]
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Quoted:
$600 a month should not be crippling for a young person with a useful degree who lives within their means.
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Unfortunately we dont all get to commute to work on a unicorn and work at the rainbow factory like you do!
Link Posted: 4/27/2019 4:35:31 PM EST
[#16]
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Quoted:

The thought of forgiving college debt is insane. The left just needs to go seek life elsewhere.

Now this guys examples are stupid. He says a $600 a month student loan payment could be going toward a wedding or a down payment of a home etc. Yeah, pissing money away on a wedding versus making the investment in a solid education should not even be thought. Investing in your future with a worth while degree that can carry you through life or deferring the gratification of a home purchase. Seems like it would be an easy answer.

Get gov't out of lending.
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My wedding and honeymoon didn't cost $600.  Flew to Vegas on a Monday, got married, stayed till Thursday when the rates increased, then flew home.  Spending more than $100 on getting married is just crazy.  My wife and I splurged.  Neither one of us wanted a big wedding.  We had a big family and friend pot luck supper and bbq when we got back home.

We paid off all if our college loans.  So can everyone else.  Never buy new cars or new house or the latest cell phone while paying off loans.  Alot of people confuse need ans want.
Link Posted: 4/27/2019 4:44:03 PM EST
[#17]
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Quoted:
The Lawyers always win.
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I work for a 13 trustee. If they made school debt dischargeable, business would be good. Debtor attorneys wouldn't be able to keep up with all the new clients.
The Lawyers always win.
@Aimless quick, ban this guy!!

Link Posted: 4/27/2019 4:44:36 PM EST
[#18]
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Quoted:
You people don't have the votes to stop what's coming.  Republicans have lost the popular election in 6 of the last 7 presidential elections.  Trump may win the popular vote for his reelection, but it is not getting any better after him.
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That's probably true.  America is sliding into a socialist swamp and the only question is how fast. That's a big driver in my decision to retire in the next 18 months. I plan to have zero income tax burden past 2020. I'll still get screwed by USD devaluation but there's only so much I can hedge against that.
Link Posted: 4/27/2019 4:46:51 PM EST
[#19]
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Quoted:
What if we diverted social security payouts to pay off student debts?
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If the loans are guaranteed by the fedgov and in default status, that's what happens now, your SS benefits get garnished.
Link Posted: 4/27/2019 4:55:39 PM EST
[#20]
Give them a choice.  Pay back the full amount, or volunteer for the military and have part of your salary go towards paying your debt while you do wild and crazy things for the nation in some foreign land.

With the understanding up front that if you wimp out/don't make the grade your full debt is still there and in need of being paid off.
Link Posted: 4/27/2019 4:57:37 PM EST
[#21]
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Quoted:
The simple solution is to make student loans dischargeable in bankruptcy, and get the government out of lending. Put the lenders on the hook, and watch the tuition inflation problem fix itself.
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Well if you think about it for about 30 seconds you might see the problem with this plan.  College students with student loans are insolvent when they graduate.  The smartest thing they could possibly do is file BK before they get a job.

Story problem:  If 30% of college students BK and erase debts upon graduation what does the interest rate have to be for the bank to realize a minimal 5% ROR?
Link Posted: 4/27/2019 5:01:09 PM EST
[#22]
Bankruptcy is not always automatically granted.  A court gets involved, makes determinations of whether you qualify, of how much debt is released, etc.  It isn’t like you just drop a form off at the courthouse with a $50 filing fee then call Dave Ramsay’s show to scream “WOO-HOO, I’M DEBT FREE!”
Link Posted: 4/27/2019 5:01:30 PM EST
[#23]
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Quoted:
No.
Pay your debts.
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Link Posted: 4/27/2019 5:03:01 PM EST
[#24]
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Quoted:
$600 a month should not be crippling for a young person with a useful degree who lives within their means.
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How the hell do expect a barista with a masters in human studies and underwater basket weaving to pay that. They wouldn't be able to afford their prius payment or shop at whole foods anymore...
Link Posted: 4/27/2019 5:04:02 PM EST
[#25]
No, it isn’t. Also, the colleges/universities need to be reeled in with their spending. You go for a education, not pools, climbing walls, and coffee bars.

Student loans should be treated like a home loan... Don’t give some motherfucker $200k for art history degree.
Link Posted: 4/27/2019 5:04:11 PM EST
[#26]
You “pay your debts” guys do not understand that bankruptcy exists to make lenders more careful about who they lend to, and for what.  Maybe your attitude is why we have grads with $120k in debt for a Womyns Studies degree wanting Bernie Sanders to rescue them.
Link Posted: 4/27/2019 5:09:28 PM EST
[#27]
He does present a compelling argument.  My biggest concern however is the old "if you give a mouse a cookie" routine.  What is next if this comes to fruition?  How much more free shit will we pay for when people get a taste of it.

I would be more interested in a system that has a forgiveness match dollar for dollar of student loan debt that is paid by the individual.  Or, forgiveness only when an IRA contribution is made for the individual.  That way there is still some personal responsibility and creation of healthy financial behaviors.

Student loan debt is a soup sandwich no matter what.  You have parents and teachers encouraging students who shouldn't go to college to go, then give them easy access to debt and degrees that are worthless.  Few 18 year olds have the wherewithal to go against that set up.  However,  it is their responsibility to make wise decisions and pay their debts.
Link Posted: 4/27/2019 5:09:52 PM EST
[#28]
i should quit my job and just be a full time student again until i'm in my 50s  then retire..
Link Posted: 4/27/2019 5:10:01 PM EST
[#29]
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Quoted:

Another gramps here.  Pay your own fuckin' debt.  Just like I had to.

Here kid, try this on for size.  The PERCEIVED "student loan debt crisis" got worse when Obama & the democrats had the government take over the program.

Once again, pay your own fuckin' debts.
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This.   The loan "forgiveness" is just another form of income redistribution aimed at buying votes.  As has been said on here, get the Gub'mint out of the loan program, make the university's have some skin in the game and I bet the useless degree's go bye-bye.  You can bet the insane costs for a degree drop like a rock too.  Get supply and demand into the equation too and it'll work itself out.  Oh yeah, pay your own fucking debts.....

PS "Debt Forgiveness" is a Latin term meainng "making other people pay your way." Nothing is "forgiven", WE pay for it one way or another.
Link Posted: 4/27/2019 5:11:15 PM EST
[#30]
FPNI
Link Posted: 4/27/2019 5:11:39 PM EST
[#31]
Yeah, I am not a fan of forgiveness, but I could support revamping the bankruptcy laws to allow discharge of some or all of the debt under certain conditions, for both past and future loans.
Link Posted: 4/27/2019 5:12:37 PM EST
[#32]
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Quoted:
Yeah, I am not a fan of forgiveness, but I could support revamping the bankruptcy laws to allow discharge of some or all of the debt under certain conditions, for both past and future loans.
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I would be good with that as well.
Link Posted: 4/27/2019 5:15:53 PM EST
[#33]
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Quoted:
I would be good with that as well.
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Quoted:
Yeah, I am not a fan of forgiveness, but I could support revamping the bankruptcy laws to allow discharge of some or all of the debt under certain conditions, for both past and future loans.
I would be good with that as well.
It especially makes sense if you step back and look at the current scenario as a case study in how distorted a market gets when bankruptcy does not exist as a brake on reckless lending to 17-20yos with no life experience.  That’s damn close to predatory lending right there.
Link Posted: 4/27/2019 5:17:38 PM EST
[#34]
There's no way this plays out without student loans getting about 1000x harder to get.
Link Posted: 4/27/2019 5:17:56 PM EST
[#35]
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Quoted:
There's no way this plays out without student loans getting about 1000x harder to get.
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Would that be that bad? What would happen to tuition prices?
Link Posted: 4/27/2019 5:18:07 PM EST
[#36]
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Quoted:
There's no way this plays out without student loans getting about 1000x harder to get.
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Good.
Link Posted: 4/27/2019 5:22:06 PM EST
[#37]
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Quoted:
Bankruptcy is not always automatically granted.  A court gets involved, makes determinations of whether you qualify, of how much debt is released, etc.  It isn’t like you just drop a form off at the courthouse with a $50 filing fee then call Dave Ramsay’s show to scream “WOO-HOO, I’M DEBT FREE!”
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I'm a lawyer and I used to do BK cases.  Admittedly this was a long time ago.  My experience is that may be true in theory, but in practice it's pretty much exactly that if you aren't hiding assets and make less than average wages.
Link Posted: 4/27/2019 5:23:34 PM EST
[#38]
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Quoted:
There's no way this plays out without student loans getting about 1000x harder to get.
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Good. They should be hard to get. Imagine the consequences:

No more $120,000 undergrad debt.

No more Social Justice Studies degrees.

No more $12/hour receptionist jobs demanding a Bachelors degree.
Link Posted: 4/27/2019 5:24:39 PM EST
[#39]
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Quoted:
Good. They should be hard to get. Imagine the consequences:

No more $120,000 undergrad debt.

No more Social Justice Studies degrees.

No more $12/hour receptionist jobs demanding a Bachelors degree.
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Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
There's no way this plays out without student loans getting about 1000x harder to get.
Good. They should be hard to get. Imagine the consequences:

No more $120,000 undergrad debt.

No more Social Justice Studies degrees.

No more $12/hour receptionist jobs demanding a Bachelors degree.
Might wind up with more machinists, electricians, carpenters, and plumbers, too.
Link Posted: 4/27/2019 5:24:59 PM EST
[#40]
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Quoted:
$600 a month should not be crippling for a young person with a useful degree who lives within their means.
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I preface this by saying pay your debt....but crippling depends on where you live....600 a month might not be alot to someone in CA but say in the south its easily half of someone youngs paycheck
Link Posted: 4/27/2019 5:26:51 PM EST
[#41]
I’d prefer to put my SS payments into my student loans and not get SS instead.
Link Posted: 4/27/2019 5:28:28 PM EST
[#42]
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Quoted:

Its not their fault the evil boomers tricked them into signing for that $100k loan. They could have joined the military, but the military is full of Trump Nazis that will steal your soul for the GI bill.

Then again I laugh because I don't have a college degree and retired at 46.
View Quote
Let’s not forget the Montgomery gi bill. On that program you could of used the GI bill and also have loans because it only payed a % of your tuition.
Link Posted: 4/27/2019 5:29:27 PM EST
[#43]
So you got a worthless degree and can't find a job?

FUCK YOU PAY ME

So you were stupid enough to listen to your high school counselor who told you to "follow your dreams"?

FUCK YOU PAY ME

Your degree in Women's Studies turned into a part time job at Starbucks?

FUCK YOU PAY ME
Link Posted: 4/27/2019 5:34:59 PM EST
[#44]
I don't care if the whole system tanks, pay your debt or don't take the loan.
Link Posted: 4/27/2019 5:38:54 PM EST
[#45]
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I’d prefer to put my SS payments into my student loans and not get SS instead.
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This....ive paid into ss for 25 years and ill never see it....if i had that money idbe debt free with a masters degree
Link Posted: 4/27/2019 5:47:57 PM EST
[#46]
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I swear to GOD SHE LOOKS LIKE A CROSS BREED WITH A JACKASS
Link Posted: 4/27/2019 5:56:34 PM EST
[#47]
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Quoted:
$600 a month should not be crippling for a young person with a useful degree who lives within their means.
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I disagree.  In many places outside of California, $600 a month is a house payment on a typical middle class starter home. It's also a pretty decent car payment. I'm middle class with roughly $1000 a month in house/car payments - I could not afford $600 more a month right now, and there is no way I would be where I am now if I had started out with that payment.

"Usefull degrees" do not automatically translate to $100,000+ salary jobs in affordable neighborhoods - at least in most the country that I'm familiar with.

The worst thing we ever did was indoctrinate our kids that starting out adulthood with a mountain of debt was "normal."
Link Posted: 4/27/2019 6:04:12 PM EST
[#48]
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Quoted:
No.
Pay your debts.
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Actually we need to convince kids that life isn't fair and not all people with $100k+ degrees will be hugely successful
if these young people knew the truth going in maybe they'd make better choices?
STOP lying to them and talking them into these crazy ass loans

truth is for every Mark Armstrong story out there, there are thousands or 10's of thousands of people with doctorates that struggle to pay their way  through life.
Link Posted: 4/27/2019 6:05:16 PM EST
[#49]
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You “pay your debts” guys do not understand that bankruptcy exists to make lenders more careful about who they lend to, and for what.  Maybe your attitude is why we have grads with $120k in debt for a Womyns Studies degree wanting Bernie Sanders to rescue them.
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These threads are always a magnet for people who don't have the IQ power to factor in second and third order effects.
Link Posted: 4/27/2019 6:07:37 PM EST
[#50]
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You try to get a job in defense, financial planning, accountancy or anything safety sensitive with shit credit.

No, you’re stuck working entry level jobs that don’t pay shit while trying to claw yourself out of a hole.
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