They should send a bill to all students owing student loans, for the actual amount they borrowed plus a flat 10 percent simple interest.
They would rake in billions of dollars virtually overnight
Students are just regular American citizens. We aren't banks or lending institutions who can afford to pay out capitalized interest on interest on interest, charging ever-increasing interest on an ever-increasing amount of (fake) capital that was never borrowed.
Making student loans the ONLY type that are so egregious they can never be discharged in bankruptcy means the student never gets a clean slate or chance to start over. So a decision made in their teens to try to "pick a major" and become more than their parents were means for many that they are sentenced to a literal lifetime of debt slavery in a succession of jobs that never pay more than enough to survive, let a lone have a prosperous and debt-free life, and ending in death while "owing" hundreds of thousands that they never borrowed.
But hey, too bad, then you should've thought about that when you were 18, sucker! Shoulda gone to welding or truck-driving school, instead of getting that degree in a field you thought you liked but weren't even remotely cut out for. Ha ha ha!
Again: You borrowed thousands of dollars that you need to pay back. With interest. Just not 1,000% interest.
::puts on shower cap to bathe in salty downvotes::
This is the reason why I never cared dor "student counselors. " all you hear is "go to college," ad nauseam, then when you get there no one helps you. They put you in a 6he long line cause the college has 2 people doing everyone's paperwork and they throw you into the stupidest classes without telling you squat.
It's interesting they talk about free education then pass laws allowing 7 percent and higher on deferred loans that keep snowvalling interest while the student is being educated and while they are becoming established.
The same banks that will invest in a gender studies degree wouldn't loan my daughter a 100k for a great business idea she had. So we did it a different way and she is very successful now.
This usery is only allowed because the same politicians who spout the free education drivel allowed the banks to do this. Also, publically funded universities is a good place to have price controls as they somehow manage to pay Warren 500k for picking her nose. None of these jackasses is serious about education.
No more loans and half the shitty universities and colleges close their doors.
Time to convert them all to trade schools and fire all those shitty professors.
Youre not wrong. The real crime is these "institutions of higher education" dont sit down with these individuals and do a market analysis for their proposed career fields before accepting a loan...the they would be out money. Yes, 18 is the age of plurality, but you can't reasonably expect one to make an informed decision in practice.
When my kids started college the top 15 jobs were in medicine, computers and sciences. My kids are engineers, nurses and computer shit that I dont understand, and a couple if them did the military first. So i would not let them take stupid shit and i didnt pay for their education. are all paying g their debts or going g tonschool on the 911 gi bill.
They should send a bill to all students owing student loans, for the actual amount they borrowed plus a flat 10 percent simple interest.
They would rake in billions of dollars virtually overnight
Students are just regular American citizens. We aren't banks or lending institutions who can afford to pay out capitalized interest on interest on interest, charging ever-increasing interest on an ever-increasing amount of (fake) capital that was never borrowed.
Making student loans the ONLY type that are so egregious they can never be discharged in bankruptcy means the student never gets a clean slate or chance to start over. So a decision made in their teens to try to "pick a major" and become more than their parents were means for many that they are sentenced to a literal lifetime of debt slavery in a succession of jobs that never pay more than enough to survive, let a lone have a prosperous and debt-free life, and ending in death while "owing" hundreds of thousands that they never borrowed.
But hey, too bad, then you should've thought about that when you were 18, sucker! Shoulda gone to welding or truck-driving school, instead of getting that degree in a field you thought you liked but weren't even remotely cut out for. Ha ha ha!
Again: You borrowed thousands of dollars that you need to pay back. With interest. Just not 1,000% interest.
::puts on shower cap to bathe in salty downvotes::
This is the reason why I never cared dor "student counselors. " all you hear is "go to college," ad nauseam, then when you get there no one helps you. They put you in a 6he long line cause the college has 2 people doing everyone's paperwork and they throw you into the stupidest classes without telling you squat.
Stealing time, that's a huge one. Plus it keeps them out of the workforce longer as a student cutting the unemployment ratio.
It's interesting they talk about free education then pass laws allowing 7 percent and higher on deferred loans that keep snowvalling interest while the student is being educated and while they are becoming established.
The same banks that will invest in a gender studies degree wouldn't loan my daughter a 100k for a great business idea she had. So we did it a different way and she is very successful now.
This usery is only allowed because the same politicians who spout the free education drivel allowed the banks to do this. Also, publically funded universities is a good place to have price controls as they somehow manage to pay Warren 500k for picking her nose. None of these jackasses is serious about education.
No more loans and half the shitty universities and colleges close their doors.
Time to convert them all to trade schools and fire all those shitty professors.
Youre not wrong. The real crime is these "institutions of higher education" dont sit down with these individuals and do a market analysis for their proposed career fields before accepting a loan...the they would be out money. Yes, 18 is the age of plurality, but you can't reasonably expect one to make an informed decision in practice.
When my kids started college the top 15 jobs were in medicine, computers and sciences. My kids are engineers, nurses and computer shit that I dont understand, and a couple if them did the military first. So i would not let them take stupid shit and i didnt pay for their education. are all paying g their debts or going g tonschool on the 911 gi bill.