Discussion in 'Politics' started by ShootSpeeders, Aug 14, 2012.
Actually i approve of this. No more bailouts for deadbeats.
I believe it's fair. I personally know several individuals who studied under federal student loans, one of whom I believe is an MD today, who openly stated their intention to never repay those loans. In fact that attitude was rather common back in the sixties and seventies (possibly longer) and I personally disapprove of it.
While I have no problem with someone who has fallen on hard times and simply cannot afford to make payments, those who simply decide not to pay back the money that helped them get ahead in life deserve to have their Social Security allotments garnished. And I give Obama credit for doing it. I just hope it's not the only place he intends to seek just financial retribution.
You never could write off a federal student loan. They will take it out of you tax return, garnish wages. You can't include them in bacruptcy and defaulting on these loans sets your credit score at zero.
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