Student debt should carry as much risk for investors as any other investment. The fact that student loan debt is basically guaranteed is why investors will give student loans to ANYBODY with a pulse and why tuition costs have skyrocketed to the point where students can not even afford to go to school without taking out massive loans.
It's a lopsided system because there are no checks and balances on the amount of money the schools can charge. The balance would be student loan default for those who can't obtain jobs with the degree they just paid a fortune for. Some people will end up there. If you make them all pay back every dime then there is no risk for the investors, no penalty to make investors think twice about putting their money into educational loans. Look at how expensive school has become, that is a direct result of an endless supple of money for student loans.
You shouldn't be able to discharge student debt in bankruptcy. Otherwise, everybody would declare bankruptcy at their graduation and just completed a free degree.
Everything above the picture is fine. The student loan crap is not a winning argument.
This. The reason this legislation was even made was because a Texas Law student who took bankruptcy law realized that getting out of law school he didnt own a ton of assets so declaring bankruptcy would just clear his student debt and wreck his credit for a little while but in a short 7 years hed be back to normal, be a lawyer and wouldnt owe a dime....others followed in his footsteps and the govt caught on quick
I'm going to disagree with you a bit. Yes, you are correct that it would be easy to declare bankruptcy at graduation to get rid of the debt. And of course, that shouldn't be allowed. However, freely giving loans to people who have never had to plan and follow a budget is one of the dumbest things this country has ever done. This is a crisis. I've worked with these kids and they took out sizable loans without understanding that the interest that has been accruing is almost insurmountable save winning the lottery. One of my co-workers had over $150k in student loan debt. These kids got screwed. And it's going to affect all of us. There is a generation of people that will not be able to afford buying homes. A lack of buyers mean our home values will go to shit in 5-10 years. I agree that loan forgiveness is the wrong way to handle this as this punishes the kids who did not participate in the free loan giveaway. But we can't turn a blind eye to this and have to get creative in how we can help that generation overcome the stupidity of past governments. I think that Trump has already initiated a plan where the 401k funds that a company typically offers would be applied to their loans instead. This and more of the like is what we need.
How does one rack up $150k in student debt? Sure, if you're trying to finance a private school education, but that's the student's problem. You can't finance your way through private school. That's a poor decision on their part.
Interest rates and no jobs during Obama's administration didn't really help. I have what I thought was going to be a very useful degree but during my 1st of 3 years and soon after his inauguration, the economy tanked.
Student debt should carry as much risk for investors as any other investment. The fact that student loan debt is basically guaranteed is why investors will give student loans to ANYBODY with a pulse and why tuition costs have skyrocketed to the point where students can not even afford to go to school without taking out massive loans.
It's a lopsided system because there are no checks and balances on the amount of money the schools can charge. The balance would be student loan default for those who can't obtain jobs with the degree they just paid a fortune for. Some people will end up there. If you make them all pay back every dime then there is no risk for the investors, no penalty to make investors think twice about putting their money into educational loans. Look at how expensive school has become, that is a direct result of an endless supple of money for student loans.
You shouldn't be able to discharge student debt in bankruptcy. Otherwise, everybody would declare bankruptcy at their graduation and just completed a free degree.
Everything above the picture is fine. The student loan crap is not a winning argument.
Sure not for our side but it would be to the college students on the left. If nothing else some disillusionment couldn't hurt.
This. The reason this legislation was even made was because a Texas Law student who took bankruptcy law realized that getting out of law school he didnt own a ton of assets so declaring bankruptcy would just clear his student debt and wreck his credit for a little while but in a short 7 years hed be back to normal, be a lawyer and wouldnt owe a dime....others followed in his footsteps and the govt caught on quick
I'm going to disagree with you a bit. Yes, you are correct that it would be easy to declare bankruptcy at graduation to get rid of the debt. And of course, that shouldn't be allowed. However, freely giving loans to people who have never had to plan and follow a budget is one of the dumbest things this country has ever done. This is a crisis. I've worked with these kids and they took out sizable loans without understanding that the interest that has been accruing is almost insurmountable save winning the lottery. One of my co-workers had over $150k in student loan debt. These kids got screwed. And it's going to affect all of us. There is a generation of people that will not be able to afford buying homes. A lack of buyers mean our home values will go to shit in 5-10 years. I agree that loan forgiveness is the wrong way to handle this as this punishes the kids who did not participate in the free loan giveaway. But we can't turn a blind eye to this and have to get creative in how we can help that generation overcome the stupidity of past governments. I think that Trump has already initiated a plan where the 401k funds that a company typically offers would be applied to their loans instead. This and more of the like is what we need.
How does one rack up $150k in student debt? Sure, if you're trying to finance a private school education, but that's the student's problem. You can't finance your way through private school. That's a poor decision on their part.
Interest rates and no jobs during Obama's administration didn't really help. I have what I thought was going to be a very useful degree but during my 1st of 3 years and soon after his inauguration, the economy tanked.
It was covid without the lockdowns.
And the government started handing out college loans like candy.
All these people with useless college degrees, complaining that they can't pay them off.
They're about to vote for the guy who made all that possible.