Cancelling Student Debt

[Mr. Deez]

They didn't get ripped off. They had an option to walk away.

They knew the cost. If you know the cost going in and make a bad decision, we're back to Financial Literacy.

If I walk on a car lot and I'm dumb enough to pay sticker, can I get the gubmint to reimburse me the cash I lost through my ignorance and lack of knowledge of money and value?

Answer is no. I'm responsible for my financial activities. Not you. Not 6721 or anyone else. I am... i hope that makes sense.

Everybody has an option to walk away from any transaction. However, when there's deception and market manipulation (as there is here), we usually don't tell the person harmed to screw off. You can ignore that all you want, but it's the truth.

If you walk on a car lot and pay sticker, nobody will reimburse you. However, if the
dealer lies about the car you're buying, and the manufacturers collude through the financial system to make the car cost 3x what the market says it should cost, you would have a remedy - against the dealer, the manufacturer, and the bank. You would not be **** outta luck.

But by all means, protect the Left-wing racket at all costs.

 

[Horn6721]

How long does the value of the piece of paper denoting a degree therefore higher pay have to last?
If you get a job others without a degree could not get then hasn't the school lived up to its implied obligation?

 

[Horn6721]

Mr D
At this point giving other people's money away to cover student loans, even a tax on Universities is imo should absolutely not be done.
I am not willing to pay for someone else' stupidity or cleverness at gaming the system.
You point out this helps the left win votes. I am dead sure there are more people who are against forgiving student loans than are for it.
Can't your solution be implemented going forwatd?

 

[Mr. Deez]

Mr D
At this point giving other people's money away to cover student loans, even a tax on Universities is imo should absolutely not be done.
I am not willing to pay for someone else' stupidity or cleverness at gaming the system.
You point out this helps the left win votes. I am dead sure there are more people who are against forgiving student loans than are for it.
Can't your solution be implemented going forwatd?

My solution isn't going to be implemented either way. The Left would fight it tooth and nail (with the media's help), and the Right doesn't even know who the enemy is in the equation. We're so focused on making sure some dork in his parents' basement doesn't get a few grand in relief that we've become largely oblivious to the armies of tens of thousands of left-wing administrators and faculty members robbing everybody (us and the dork in the basement) blind for hundreds of thousands every year and using it to push socialism and God-hatred. The Left would absolutely run circles around and humiliate us if we tried anything. It would look like someone trying to box blindfolded.

 

[Horn2RunAgain]

Everybody has an option to walk away from any transaction. However, when there's deception and market manipulation (as there is here), we usually don't tell the person harmed to screw off. You can ignore that all you want, but it's the truth.

Seriously? There's market manipulation all around, hoss. You'll need another angle here. We as consumers are told to "screw off" on a daily basis.

 

[Horn6721]

Mr D
Well then your plan is a good one and as you point out not all that complicated.
I wonder which Texas rep in Congress on which Committee would be the one to put something like this together?

 

[Mr. Deez]

Seriously? There's market manipulation all around, hoss. You'll need another angle here. We as consumers are told to "screw off" on a daily basis.

Very little is like the student loan and tuition racket. It's on another level. It's a rigged game at every end of the equation and with the full blessing of the government. The medical industry is they only thing that comes close, and that's dischargeable in bankruptcy court.

 

[HalRex]

Unfortunately, asking for our government to do a forensic accounting of the college tuition scam is a bit much to ask. Especially when you consider the government money that flows to these institutions and the favors involved.

 

[Mr. Deez]

Unfortunately, asking for our government to do a forensic accounting of the college tuition scam is a bit much to ask. Especially when you consider the government money that flows to these institutions and the favors involved.

You don't really need an audit. You just need to cut the federal money and authority off regardless of any audit. Do that, and the market will force prices down.

 

[Mr. Deez]

Yep, let's keep letting these people take our money and our kids' money.

l

 

[HalRex]

You don't really need an audit. You just need to cut the federal money and authority off regardless of any audit. Do that, and the market will force prices down.

For tuition moneys already spent (and pocketed by the institutions). Then appropriate compensation to those who were taken advantage of can be determined.

 

[mb227]

I took 21 hours my final semester so I could graduate early. Of those 21 hours, I took “History of Rock and Roll.” I thoroughly enjoyed it, but would never ask anyone else to pay for it.

I had a similar course at Sam Houston way back when...and it had some actual challenge to it, as did most courses 40 years ago...

 

[mb227]

SCOUS says no can do.

They just channeled them some Hall and Oates

 

[mb227]

How's about since you were supposedly smart enough to get into college, be smart enough to pay off the loan you took out.

More victimhood here. I don't give a crap how rigged some think it was and is.

Where everything falls apart IMO is that even in the 80's, we had to sit through a session on what borrowers were getting into and that the failure would result in large numbers at graduation.

The current crop of borrowers never cared to pay attention. Too bad for them...moving on.

 

[Mr. Deez]

For tuition moneys already spent (and pocketed by the institutions). Then appropriate compensation to those who were taken advantage of can be determined.

I see. Not a bad idea.

 

[Sangre Naranjada]

I see. Not a bad idea.

It's a horrible idea, because it is a repackaging of reparations.

 

[Mr. Deez]

It's a horrible idea, because it is a repackaging of reparations.

It's more like compensatory damages for fraud paid by the actual wrongdoers. It's nothing like reparations.

 

[Horn6721]

Mr D
You are right. It is not like reparations. It is worse. It lets people off the hook for debts they Willingly signed for.
Change things for the future but the current debtors should pay their own debts.

 

[Mr. Deez]

Mr D
You are right. It is not like reparations. It is worse. It lets people off the hook for debts they Willingly signed for.
Change things for the future but the current debtors should pay their own debts.

And this is one of the reasons we'll never have reform.

 

[Horn6721]

? We will never have reform because most people ,many of whom never had a student loan Or sacrificed to pay it off, most people do NOT want to pay a college loan debt for other people
That is the reason we won't have reform ?
What kind of reason could you give those ordinary people esp those who never had a student loan that might make them think it is ok for someone to walk away from a loan they voluntarily signed for and accepted?

 

[Mr. Deez]

? We will never have reform because most people ,many of whom never had a student loan Or sacrificed to pay it off, most people do NOT want to pay a college loan debt for other people
That is the reason we won't have reform ?
What kind of reason could you give those ordinary people esp those who never had a student loan that might make them think it is ok for someone to walk away from a loan they voluntarily signed for and accepted?

Of course, I haven't mentioned you or any of those people having to pay off anyone's student loan, but you can't stop repeating the talking point. And it's a correct talking point to use against Biden's plan. It's not correct against what I've suggested but you all just keep repeating it. That narrow and scattered thinking is why we won't get reform. Far too easy for the Left to outsmart us.

 

[Horn6721]

Mr D
You are right so let me correct it
Most people whether they never had a student loan or had one and paid it off do not want people to be able to walk away from a loan they voluntarily signed for.

 

[Horn2RunAgain]

Very little is like the student loan and tuition racket. It's on another level. It's a rigged game at every end of the equation and with the full blessing of the government. The medical industry is they only thing that comes close, and that's dischargeable in bankruptcy court.

""other levels", deez? In decades of working in manufacturing supply chains I can go on and on about markets being manipulated.

How long exactly have you been out of the work force? How many industries did you actively work in? I'd like to know to gauge your depth of expertise

 

[Mr. Deez]

Mr D
You are right so let me correct it
Most people whether they never had a student loan or had one and paid it off do not want people to be able to walk away from a loan they voluntarily signed for.

Really? What do you think happens when somebody racks up credit card debt and files for bankruptcy? They're going to walk away from a lot of it and usually under far, far less defensible circumstances. It's just a remarkable contrast in attitude toward the debtor.

Person A - "I racked up a lot of credit card debt buying booze, cigarettes, and getting cash advances at strip clubs, and now I can't pay it off. Can I get some relief?"

The System (through the bankruptcy court) - "Sure. Nobody's perfect."

Person B - "I racked up a lot of student loan debt, because since the time I was a kindergartner, every teacher and counselor I ever had told me to go to college and that it was worth the investment, because I'd get good job opportunities that would help me pay it off. That didn't turn out as they said it would. Can I get some relief?"

The System - "We know. It sucks. Of course. SIKE!! Hahaha! Tough ****, loser!! You better pay that thing back in full, or we're coming after your shirt."

 

[Horn6721]

Mr D
Srsly?
You know how weak that is.

 

[Horn2RunAgain]

Really? What do you think happens when somebody racks up credit card debt and files for bankruptcy? They're going to walk away from a lot of it and usually under far, far less defensible circumstances. It's just a remarkable contrast in attitude toward the debtor.

Person A - "I racked up a lot of credit card debt buying booze, cigarettes, and getting cash advances at strip clubs, and now I can't pay it off. Can I get some relief?"

The System (through the bankruptcy court) - "Sure. Nobody's perfect."

Person B - "I racked up a lot of student loan debt, because since the time I was a kindergartner, every teacher and counselor I ever had told me to go to college and that it was worth the investment, because I'd get good job opportunities that would help me pay it off. That didn't turn out as they said it would. Can I get some relief?"

The System - "We know. It sucks. Of course. SIKE!! Hahaha! Tough ****, loser!! You better pay that thing back in full, or we're coming after your shirt."

Person A should pay the balance in full each month.

Person B, same. By semester.

If you're not able to accomplish the above, life becomes more difficult through no one else's fault but their own.

Yes they often walk away from the debt but their credit isn't the same afterwards. Good luck to them getting loans at a fair rate going fwd. In short, they're screwed. This should be the future of those that don't pay off student loans

 

[Monahorns]

How about just undoing the system that has lead to the problem? There is a list of laws enacted through the decades. The answer is directly before us. Nothing else needed. It may not be possible politically today. But it is possible. Doing anything other than this will cause more problems which the government will claim it can solve by stealing more of your power and money.

 

[Horn6721]

" students who truly can't pay back their student loans should be able to have it discharged in bankruptcy court."
That is fair IF they are treated exactly like anyone else who files bankruptcy with the consequences.
I am guessing if that is enacted many will magically find a way to pay

 

[Mr. Deez]

Person A should pay the balance in full each month.

Person B, same. By semester.

But that doesn't happen to Person A.

If you're not able to accomplish the above, life becomes more difficult through no one else's fault but their own.

Yes they often walk away from the debt but their credit isn't the same afterwards. Good luck to them getting loans at a fair rate going fwd. In short, they're screwed. This should be the future of those that don't pay off student loans

They're screwed for a while. Not forever or even close to forever.

 

[Mr. Deez]

How about just undoing the system that has lead to the problem? There is a list of laws enacted through the decades. The answer is directly before us. Nothing else needed. It may not be possible politically today. But it is possible. Doing anything other than this will cause more problems which the government will claim it can solve by stealing more of your power and money.

That pic is quite a hairdo. lol