Students ask Education Department to discharge college debt

[longknife]

And how many millions more are going to follow suit? Can; t you see it coming? The Leftist mind set. Take stupid pillow courses and expect to instantly become a company CEO. And, a school closes and that gives them a valid reason to not be required to pay the loan THEY ASKED FOR?



Nobody forced them to either select the school, their majors, or the loan.



Read more @ Students ask Education Department to discharge college debt

 

[Moonglow]

Seems silly to have to take freshman English courses after 12 years of English courses and an entrance exam in which you must pass and English exam....

 

[DGS49]

This is a very fact-specific action, based on what appears to have been fraudulent representations by a for-profit college that has gone bankrupt.

It is a far cry from "debt relief" for people who borrowed for college costs to go to a conventional private or public college.

Nevertheless, many of these wretched souls will fervently pull the "D" lever every time they vote from now on, hoping for another outlaw action by an outlaw president that results in their student loan debts being discharged. I wouldn't put this lawlessness past HRC for a nanosecond; she would jump on it like flies on schidt.

 

[007]

This is a very fact-specific action, based on what appears to have been fraudulent representations by a for-profit college that has gone bankrupt.

It is a far cry from "debt relief" for people who borrowed for college costs to go to a conventional private or public college.

Nevertheless, many of these wretched souls will fervently pull the "D" lever every time they vote from now on, hoping for another outlaw action by an outlaw president that results in their student loan debts being discharged. I wouldn't put this lawlessness past HRC for a nanosecond; she would jump on it like flies on schidt.

The nation and our economy can't survive much more of this FREEBIE bull shit, before bad things happen in a big way, which is pretty much inevitable now. Just depends on how much some people want to help it along to happen sooner.

 

[DGS49]

Money is a very liquid thing. There have been, and continue to be, public expenses that by all rational criteria would "bankrupt" the federal government, but by creating fiat money, borrowing from ourselves, and so forth, somehow we manage to muddle through.

Consider just a few examples. There is no SS "trust fund" - never was, never will be. The excess money (over disbursements) that has been collected from Boomers' paychecks for the last several decades and was supposed to be creating a fund for our retirement was SPENT by Congress, and a mountain of IOU's was produced. Now the IOU's are being drawn down. From whom? Who is paying them back? Nobody. It is all a huge, ridiculous fiction. And yet the Political Class will tell us that the SS "Trust Fund" is good enough to cover "us" for the next 20 years. As the Brits occasionally say, "pull the other one."

The savings & loan crisis bankrupted us. Not.

The trillion dollar deficits bankrupted us. Apparently not.

Forgiving all those ridiculous student loans (and reimbursing the banks who made the loans) would be no worse for the economy that the shit that Barry O has dumped on us for the past seven years.

 

[Mr. H.]

Government student loans (FASFA) are not dischargeable. Not even filing for bankruptcy will absolve you of these debts.

This is made very clear upfront and in very specific contractual terms.

I would say "read the fine print" but most college-bound students can't even fucking read.

 

[Mr. H.]

I've struggled through two cycles of FASFA applications, and believe me it ain't pretty.

There are two types of loans that can be awarded, based upon your most recent tax return:

Direct Subsidized Loan, and Direct Unsubsidized Loan.

Both are very real and serious obligations and both are imprinted upon the assignees' credit stature.

There is a mechanism by which the FASFA application is eventually linked to the IRS portal, which uploads your filed 1040 along with supporting schedules.

Repayment begins after college graduation and upon obtaining employment.

In short, you can not fuck with the IRS. No ifs, ands, or butts.

 

[waltky]

Student loans can be a 'ball and chain' for life...

‘A Student Loan Is Worse’ Than Indentured Servitude
November 5, 2015 - During an appearance at St. Anselm College in Manchester, N.H., on Wednesday, GOP presidential candidate Sen. Marco Rubio (R-Fla.) said taking out a student loan is worse than indentured servitude.

“A student loan is worse. You still owe the money. The difference is if you don’t pay back the investment group, you have a contract, and they can obviously have legal remedies for it. If you don’t pay back your loan, it ruins your credit. They’ll collect on you for the rest of your life,” said Rubio. “Because they’re federally backed, they’ll garnish your wages. They’ll take it out of your tax return if necessary, so I think it’s way better than the issue of whether you want a student loan.”

Rubio described his proposal of allowing private investors to loan money to students, who would sign a contract to repay a small percentage of their income for the next 15 or 20 years. “The student investment plan is an idea that actually allows individuals that instead of going to a student loan route, allows you to go to the equivalent of a private investment group the way you would with a company,” Rubio said. “You present to them who you are, and what your background is and what your future goals are and your resume and your GPA and your transcripts, and they look at all this, and they decide whether or not they think you are a good investment,” he added. “If you are a good investment, they pay for your tuition. This is primarily at the graduate level - and in return, you sign a contract to pay back a percentage of your income - one or two percent a year for 20 years or 15 years,” Rubio said.

A panelist at the event asked, “So the student investment plan was a new idea I had not heard of when I was preparing for today. Everybody I shared this with had the same question I want to pose to you: What’s the difference between indentured servitude? This is what comes front in mind when I hear something about 10 years of my life being paid over to another person.” “A student loan is worse. You still owe the money,” Rubio said. ”The difference is if you don’t pay back the investment group, you have a contract, and they can obviously have legal remedies for it. “If you don’t pay back your loan, it ruins your credit. They’ll collect on you for the rest of your life,” said Rubio. “Because they’re federally backed, they’ll garnish your wages. They’ll take it out of your tax return if necessary, so I think it’s way better than the issue of whether you want a student loan,” he added.

“On the student investment plan, the risk is on the investment group. If you don’t make enough money to pay them back in that defined period of time, they made a bad investment. In the student loan, if you borrowed $100,000, you owe $100,000, and you will owe that $100,000 until the day you die or pay it off,” said Rubio. “If you just don’t make enough money to pay back the student investment group, they made a bad investment. They assume that risk. There’s a big difference, and by the way, it’s optional. It’s not mandatory. We’re not telling anybody they have to pursue this route, but it is way better than owing a student loan, which ... you will owe that amount of money whether you’ve found a job or not,” he said.

Rubio: ‘A Student Loan Is Worse’ Than Indentured Servitude

 

[longknife]

Student loans can be a 'ball and chain' for life...

‘A Student Loan Is Worse’ Than Indentured Servitude
November 5, 2015 - During an appearance at St. Anselm College in Manchester, N.H., on Wednesday, GOP presidential candidate Sen. Marco Rubio (R-Fla.) said taking out a student loan is worse than indentured servitude.

“A student loan is worse. You still owe the money. The difference is if you don’t pay back the investment group, you have a contract, and they can obviously have legal remedies for it. If you don’t pay back your loan, it ruins your credit. They’ll collect on you for the rest of your life,” said Rubio. “Because they’re federally backed, they’ll garnish your wages. They’ll take it out of your tax return if necessary, so I think it’s way better than the issue of whether you want a student loan.”

Rubio described his proposal of allowing private investors to loan money to students, who would sign a contract to repay a small percentage of their income for the next 15 or 20 years. “The student investment plan is an idea that actually allows individuals that instead of going to a student loan route, allows you to go to the equivalent of a private investment group the way you would with a company,” Rubio said. “You present to them who you are, and what your background is and what your future goals are and your resume and your GPA and your transcripts, and they look at all this, and they decide whether or not they think you are a good investment,” he added. “If you are a good investment, they pay for your tuition. This is primarily at the graduate level - and in return, you sign a contract to pay back a percentage of your income - one or two percent a year for 20 years or 15 years,” Rubio said.

A panelist at the event asked, “So the student investment plan was a new idea I had not heard of when I was preparing for today. Everybody I shared this with had the same question I want to pose to you: What’s the difference between indentured servitude? This is what comes front in mind when I hear something about 10 years of my life being paid over to another person.” “A student loan is worse. You still owe the money,” Rubio said. ”The difference is if you don’t pay back the investment group, you have a contract, and they can obviously have legal remedies for it. “If you don’t pay back your loan, it ruins your credit. They’ll collect on you for the rest of your life,” said Rubio. “Because they’re federally backed, they’ll garnish your wages. They’ll take it out of your tax return if necessary, so I think it’s way better than the issue of whether you want a student loan,” he added.

“On the student investment plan, the risk is on the investment group. If you don’t make enough money to pay them back in that defined period of time, they made a bad investment. In the student loan, if you borrowed $100,000, you owe $100,000, and you will owe that $100,000 until the day you die or pay it off,” said Rubio. “If you just don’t make enough money to pay back the student investment group, they made a bad investment. They assume that risk. There’s a big difference, and by the way, it’s optional. It’s not mandatory. We’re not telling anybody they have to pursue this route, but it is way better than owing a student loan, which ... you will owe that amount of money whether you’ve found a job or not,” he said.

Rubio: ‘A Student Loan Is Worse’ Than Indentured Servitude

Then, for God's sake STOP AND THINK BEFORE YOU GET YOURSELF CHAINED FOR A PIECE OF PAPER THAT DOES YOU NO GOOD.

I have little or no sympathy for these people.

 

[jasonnfree]

Student loans can be a 'ball and chain' for life...

‘A Student Loan Is Worse’ Than Indentured Servitude
November 5, 2015 - During an appearance at St. Anselm College in Manchester, N.H., on Wednesday, GOP presidential candidate Sen. Marco Rubio (R-Fla.) said taking out a student loan is worse than indentured servitude.

“A student loan is worse. You still owe the money. The difference is if you don’t pay back the investment group, you have a contract, and they can obviously have legal remedies for it. If you don’t pay back your loan, it ruins your credit. They’ll collect on you for the rest of your life,” said Rubio. “Because they’re federally backed, they’ll garnish your wages. They’ll take it out of your tax return if necessary, so I think it’s way better than the issue of whether you want a student loan.”

Rubio described his proposal of allowing private investors to loan money to students, who would sign a contract to repay a small percentage of their income for the next 15 or 20 years. “The student investment plan is an idea that actually allows individuals that instead of going to a student loan route, allows you to go to the equivalent of a private investment group the way you would with a company,” Rubio said. “You present to them who you are, and what your background is and what your future goals are and your resume and your GPA and your transcripts, and they look at all this, and they decide whether or not they think you are a good investment,” he added. “If you are a good investment, they pay for your tuition. This is primarily at the graduate level - and in return, you sign a contract to pay back a percentage of your income - one or two percent a year for 20 years or 15 years,” Rubio said.

A panelist at the event asked, “So the student investment plan was a new idea I had not heard of when I was preparing for today. Everybody I shared this with had the same question I want to pose to you: What’s the difference between indentured servitude? This is what comes front in mind when I hear something about 10 years of my life being paid over to another person.” “A student loan is worse. You still owe the money,” Rubio said. ”The difference is if you don’t pay back the investment group, you have a contract, and they can obviously have legal remedies for it. “If you don’t pay back your loan, it ruins your credit. They’ll collect on you for the rest of your life,” said Rubio. “Because they’re federally backed, they’ll garnish your wages. They’ll take it out of your tax return if necessary, so I think it’s way better than the issue of whether you want a student loan,” he added.

“On the student investment plan, the risk is on the investment group. If you don’t make enough money to pay them back in that defined period of time, they made a bad investment. In the student loan, if you borrowed $100,000, you owe $100,000, and you will owe that $100,000 until the day you die or pay it off,” said Rubio. “If you just don’t make enough money to pay back the student investment group, they made a bad investment. They assume that risk. There’s a big difference, and by the way, it’s optional. It’s not mandatory. We’re not telling anybody they have to pursue this route, but it is way better than owing a student loan, which ... you will owe that amount of money whether you’ve found a job or not,” he said.

Rubio: ‘A Student Loan Is Worse’ Than Indentured Servitude

Then, for God's sake STOP AND THINK BEFORE YOU GET YOURSELF CHAINED FOR A PIECE OF PAPER THAT DOES YOU NO GOOD.

I have little or no sympathy for these people.

From what I read, link below, the fed loaned out 16 trillion to banks and corporations all over the world. You think they could maybe refinance some of these student loans at a reduced rate, or maybe forgive some loans of people in extreme hardship situations.

The Fed Audit

 

[Unkotare]

Student loans can be a 'ball and chain' for life...

‘A Student Loan Is Worse’ Than Indentured Servitude
November 5, 2015 - During an appearance at St. Anselm College in Manchester, N.H., on Wednesday, GOP presidential candidate Sen. Marco Rubio (R-Fla.) said taking out a student loan is worse than indentured servitude.

“A student loan is worse. You still owe the money. The difference is if you don’t pay back the investment group, you have a contract, and they can obviously have legal remedies for it. If you don’t pay back your loan, it ruins your credit. They’ll collect on you for the rest of your life,” said Rubio. “Because they’re federally backed, they’ll garnish your wages. They’ll take it out of your tax return if necessary, so I think it’s way better than the issue of whether you want a student loan.”

Rubio described his proposal of allowing private investors to loan money to students, who would sign a contract to repay a small percentage of their income for the next 15 or 20 years. “The student investment plan is an idea that actually allows individuals that instead of going to a student loan route, allows you to go to the equivalent of a private investment group the way you would with a company,” Rubio said. “You present to them who you are, and what your background is and what your future goals are and your resume and your GPA and your transcripts, and they look at all this, and they decide whether or not they think you are a good investment,” he added. “If you are a good investment, they pay for your tuition. This is primarily at the graduate level - and in return, you sign a contract to pay back a percentage of your income - one or two percent a year for 20 years or 15 years,” Rubio said.

A panelist at the event asked, “So the student investment plan was a new idea I had not heard of when I was preparing for today. Everybody I shared this with had the same question I want to pose to you: What’s the difference between indentured servitude? This is what comes front in mind when I hear something about 10 years of my life being paid over to another person.” “A student loan is worse. You still owe the money,” Rubio said. ”The difference is if you don’t pay back the investment group, you have a contract, and they can obviously have legal remedies for it. “If you don’t pay back your loan, it ruins your credit. They’ll collect on you for the rest of your life,” said Rubio. “Because they’re federally backed, they’ll garnish your wages. They’ll take it out of your tax return if necessary, so I think it’s way better than the issue of whether you want a student loan,” he added.

“On the student investment plan, the risk is on the investment group. If you don’t make enough money to pay them back in that defined period of time, they made a bad investment. In the student loan, if you borrowed $100,000, you owe $100,000, and you will owe that $100,000 until the day you die or pay it off,” said Rubio. “If you just don’t make enough money to pay back the student investment group, they made a bad investment. They assume that risk. There’s a big difference, and by the way, it’s optional. It’s not mandatory. We’re not telling anybody they have to pursue this route, but it is way better than owing a student loan, which ... you will owe that amount of money whether you’ve found a job or not,” he said.

Rubio: ‘A Student Loan Is Worse’ Than Indentured Servitude

Then, for God's sake STOP AND THINK BEFORE YOU GET YOURSELF CHAINED FOR A PIECE OF PAPER THAT DOES YOU NO GOOD.

I have little or no sympathy for these people.

What piece of paper is that?

 

[waltky]

The loan contract.