Unprecedented USA Student Loan Debt

[initforme]

It should be easier for someone to go to school. Why should it be difficult based on the almighty buck?

 

[Rikurzhen]

American college students have run up a mere 1.2 trillion dollars in loan debts!


So what? Just a mere drop in the bucket in liberals' efforts to create a state of dependency upon government. And, they want Obama to bail those poor students out. Why should they assume responsibility for themselves now?


The 18 sobering facts about this subject are @ 18 Sobering Facts About The Unprecedented Student Loan Debt Crisis In The United States

And all of this unnecessary debt and stunting in people's lives is due to the Civil Rights Act.

 

[initforme]

No education equals lower wages for most. No way for a worker to stick it to their employer. And then they are told they should be thankful for the job. Pathetic.

 

[waltky]

Student Loan Servicers Deceived Borrowers...

Student Loan Servicers Deceived Borrowers and Manipulated Payments to Maximize Late Fees
Oct 31, 2014 - Student debt collectors have been deceiving borrowers according to a new report from the Consumer Financial Protection Bureau, resulting in unfair fees and damaged credit. The violations include maximizing late fees and deceiving borrowers regarding their debt, among other deceptive practices banned under the Dodd-Frank Act.

"Students are already struggling with crushing amounts of loan debt," CFPB Director Richard Cordray said in a press release. "Student borrowers deserve better than illegal practices as they work to pay back their loans." This week's report applies to loan servicers, companies responsible for collecting and helping graduates to structure their payments. The CFPB flagged six major issues in the industry, including:

Structuring payments to maximize penalties.

Many servicers handle multiple loans per person and consolidate them all into one account. Typically they bill just for that one lump sum every month and allocate the payment accordingly. That much is fine. However many servicers have been taking unfair advantage of this situation. When borrowers pay less than the full monthly amount, these companies have been distributing the money proportionately across each loan, resulting in all of the loans in a borrower's account becoming delinquent. The servicer then charges a late fee for every loan in the account, maximize penalties while harming the borrower's credit.

Charging illegal late penalties during grace periods.

Most student loans come with a grace period, typically about six months after graduation. Borrowers can make payments during this time but don't have to. The CFPB discovered that some servicers have been charging late penalties to people making payments during their grace period but after the loan's standard due date. There are, of course, no late penalties for graduates making payments during their grace period regardless of when.

Lying about minimum payments.

 

[Toddsterpatriot]

Why should we give the 1% low interest loans, but students must pay 10% for a loan??

You must have some awful credit to pay 10% on a student loan.

 

[Toddsterpatriot]

Why are every other kind of debts dischargeable in a bankruptcy except student loans?

I realize the whole reason for the change was because people would get through med school or law school, file BK, and then get off, but it makes no sense to soak someone with 60 grand in debt and let them get a degree that won't get them a job making more than 30k a year and not let them be able to discharge it if they simply can't pay the bills.

Why are every other kind of debts dischargeable in a bankruptcy except student loans?

Don't want to pay back your loans, don't borrow money.

it makes no sense to soak someone with 60 grand in debt and let them get a degree that won't get them a job making more than 30k a year

I agree, dumb people shouldn't borrow large sums of money.

 

[Toddsterpatriot]

Banks got a HUGE Bailout, why not Bailout the Students?

You know what an Economic "shot in the arm" that would be?

That's probably why it won't happen.

Banks got a HUGE Bailout, why not Bailout the Students?

Banks got expensive, short term loans, that they repaid.
The Treasury made tens of billions.
How would that help students who can't repay their current loans?

 

[Dont Taz Me Bro]

It should be easier for someone to go to school. Why should it be difficult based on the almighty buck?

You're given a "free" education as a child. Once you reach adulthood it's up to you to provide for yourself, not your neighbors.

 

[Unkotare]

No way for a worker to stick it to their employer. And then they are told they should be thankful for the job. Pathetic.

Stick it to yourself, you lazy POS.

 

[Unkotare]

It should be easier for someone to go to school. Why should it be difficult based on the almighty buck?

There are a great, great many options for someone who truly desires a higher education to pursue one.

 

[DGS49]

Student loans cannot be discharged in bankruptcy because MEDICAL students and LAW students were gaming the system. They were taking out huge (relatively) loans to finance their professional school education, then as soon as they got established in their careers they filed bankruptcy and got the loans discharged. Congress and the lenders got pissed off and FIXED THAT PROBLEM!

Loan forgiveness is a form of THEFT!

Consider: Borrower needs money that she does not have. She goes into a bank (or wherever) and asks for the money. She has no ability to pay right now, but PROMISES the bank that she will repay the loan as soon as she is able. The bank GIVES HER THE MONEY.

She has acquired this money from a group of strangers, based on a solemn, written promise to repay. She didn't get it from her family, her loved ones, her friends or her employer. She got it from a business who trusted her.

Now what was that argument for discharging the loan again?

She doesn't want to pay it? It's a hardship?

Bullfuckingloney.

What if, when she applied for the loan, she told the lender that if it became a hardship she wouldn't pay it back?

Do you think she would have got the money?

WOULD YOU HAVE LOANED HER THE MONEY?

Not your money, so you don't give a fuck, right?

 

[Roadrunner]

American college students have run up a mere 1.2 trillion dollars in loan debts!


So what? Just a mere drop in the bucket in liberals' efforts to create a state of dependency upon government. And, they want Obama to bail those poor students out. Why should they assume responsibility for themselves now?


The 18 sobering facts about this subject are @ 18 Sobering Facts About The Unprecedented Student Loan Debt Crisis In The United States

I wonder how much went to tuition and books, and how much to partying?

I wonder how much went to graduates, and how much went to dropouts that never should have been in college in the first place?

I expect an "amnesty".

 

[Roadrunner]

It should be easier for someone to go to school. Why should it be difficult based on the almighty buck?

There are a great, great many options for someone who truly desires a higher education to pursue one.

Amen.

Just ran into another one of my poor students from a D grade school that is now a teacher.

The path to higher education is open, if you avoid the pitfalls of drugs, alcohol and pregnancy.

 

[Roadrunner]

Student loans cannot be discharged in bankruptcy because MEDICAL students and LAW students were gaming the system. They were taking out huge (relatively) loans to finance their professional school education, then as soon as they got established in their careers they filed bankruptcy and got the loans discharged. Congress and the lenders got pissed off and FIXED THAT PROBLEM!

Loan forgiveness is a form of THEFT!

Consider: Borrower needs money that she does not have. She goes into a bank (or wherever) and asks for the money. She has no ability to pay right now, but PROMISES the bank that she will repay the loan as soon as she is able. The bank GIVES HER THE MONEY.

She has acquired this money from a group of strangers, based on a solemn, written promise to repay. She didn't get it from her family, her loved ones, her friends or her employer. She got it from a business who trusted her.

Now what was that argument for discharging the loan again?

She doesn't want to pay it? It's a hardship?

Bullfuckingloney.

What if, when she applied for the loan, she told the lender that if it became a hardship she wouldn't pay it back?

Do you think she would have got the money?

WOULD YOU HAVE LOANED HER THE MONEY?

Not your money, so you don't give a fuck, right?

There are even loan forgiveness programs for people who teach, and I think some for those that go into nursing.

 

[Roadrunner]

Going into the military is only acceptable for those that want to serve. It should not be forced upon those college bound. The number in my town going into the military is a tiny minute percentage of what it used to be. Out of an average of 200 graduates we have about 1 or at most 2 per year enlisting. Community college is a good option however.

I disagree.

This country has gotten so far away from Kennedy's "ask not" speech, that I am in favour of mandatory service in the military or in labor corps, just to instil some civic pride in what is becoming a nation of spoiled ass ingrate illiterates.

 

[Moonglow]

Student loans cannot be discharged in bankruptcy because MEDICAL students and LAW students were gaming the system. They were taking out huge (relatively) loans to finance their professional school education, then as soon as they got established in their careers they filed bankruptcy and got the loans discharged. Congress and the lenders got pissed off and FIXED THAT PROBLEM!

Loan forgiveness is a form of THEFT!

Consider: Borrower needs money that she does not have. She goes into a bank (or wherever) and asks for the money. She has no ability to pay right now, but PROMISES the bank that she will repay the loan as soon as she is able. The bank GIVES HER THE MONEY.

She has acquired this money from a group of strangers, based on a solemn, written promise to repay. She didn't get it from her family, her loved ones, her friends or her employer. She got it from a business who trusted her.

Now what was that argument for discharging the loan again?

She doesn't want to pay it? It's a hardship?

Bullfuckingloney.

What if, when she applied for the loan, she told the lender that if it became a hardship she wouldn't pay it back?

Do you think she would have got the money?

WOULD YOU HAVE LOANED HER THE MONEY?

Not your money, so you don't give a fuck, right?

Ever hear of TARP? It was theft by the rich....

 

[Moonglow]

Going into the military is only acceptable for those that want to serve. It should not be forced upon those college bound. The number in my town going into the military is a tiny minute percentage of what it used to be. Out of an average of 200 graduates we have about 1 or at most 2 per year enlisting. Community college is a good option however.

I disagree.

This country has gotten so far away from Kennedy's "ask not" speech, that I am in favour of mandatory service in the military or in labor corps, just to instil some civic pride in what is becoming a nation of spoiled ass ingrate illiterates.

Please don't call yourself names, it's bad for moral...

 

[Toddsterpatriot]

Student loans cannot be discharged in bankruptcy because MEDICAL students and LAW students were gaming the system. They were taking out huge (relatively) loans to finance their professional school education, then as soon as they got established in their careers they filed bankruptcy and got the loans discharged. Congress and the lenders got pissed off and FIXED THAT PROBLEM!

Loan forgiveness is a form of THEFT!

Consider: Borrower needs money that she does not have. She goes into a bank (or wherever) and asks for the money. She has no ability to pay right now, but PROMISES the bank that she will repay the loan as soon as she is able. The bank GIVES HER THE MONEY.

She has acquired this money from a group of strangers, based on a solemn, written promise to repay. She didn't get it from her family, her loved ones, her friends or her employer. She got it from a business who trusted her.

Now what was that argument for discharging the loan again?

She doesn't want to pay it? It's a hardship?

Bullfuckingloney.

What if, when she applied for the loan, she told the lender that if it became a hardship she wouldn't pay it back?

Do you think she would have got the money?

WOULD YOU HAVE LOANED HER THE MONEY?

Not your money, so you don't give a fuck, right?

Ever hear of TARP? It was theft by the rich....

Those darn rich banks, paying back all those TARP loans, plus tens of billions in profit to the Treasury.
Bastards!

 

[Moonglow]

Student loans cannot be discharged in bankruptcy because MEDICAL students and LAW students were gaming the system. They were taking out huge (relatively) loans to finance their professional school education, then as soon as they got established in their careers they filed bankruptcy and got the loans discharged. Congress and the lenders got pissed off and FIXED THAT PROBLEM!

Loan forgiveness is a form of THEFT!

Consider: Borrower needs money that she does not have. She goes into a bank (or wherever) and asks for the money. She has no ability to pay right now, but PROMISES the bank that she will repay the loan as soon as she is able. The bank GIVES HER THE MONEY.

She has acquired this money from a group of strangers, based on a solemn, written promise to repay. She didn't get it from her family, her loved ones, her friends or her employer. She got it from a business who trusted her.

Now what was that argument for discharging the loan again?

She doesn't want to pay it? It's a hardship?

Bullfuckingloney.

What if, when she applied for the loan, she told the lender that if it became a hardship she wouldn't pay it back?

Do you think she would have got the money?

WOULD YOU HAVE LOANED HER THE MONEY?

Not your money, so you don't give a fuck, right?

Ever hear of TARP? It was theft by the rich....

Those darn rich banks, paying back all those TARP loans, plus tens of billions in profit to the Treasury.
Bastards!

At what 1% ? When a student loan is rated at 9%?

 

[Toddsterpatriot]

Student loans cannot be discharged in bankruptcy because MEDICAL students and LAW students were gaming the system. They were taking out huge (relatively) loans to finance their professional school education, then as soon as they got established in their careers they filed bankruptcy and got the loans discharged. Congress and the lenders got pissed off and FIXED THAT PROBLEM!

Loan forgiveness is a form of THEFT!

Consider: Borrower needs money that she does not have. She goes into a bank (or wherever) and asks for the money. She has no ability to pay right now, but PROMISES the bank that she will repay the loan as soon as she is able. The bank GIVES HER THE MONEY.

She has acquired this money from a group of strangers, based on a solemn, written promise to repay. She didn't get it from her family, her loved ones, her friends or her employer. She got it from a business who trusted her.

Now what was that argument for discharging the loan again?

She doesn't want to pay it? It's a hardship?

Bullfuckingloney.

What if, when she applied for the loan, she told the lender that if it became a hardship she wouldn't pay it back?

Do you think she would have got the money?

WOULD YOU HAVE LOANED HER THE MONEY?

Not your money, so you don't give a fuck, right?

Ever hear of TARP? It was theft by the rich....

Those darn rich banks, paying back all those TARP loans, plus tens of billions in profit to the Treasury.
Bastards!

At what 1% ? When a student loan is rated at 9%?

TARP loans were very expensive. Much higher than 1%.