A rant about the cost of living

[g5000]

They don't set the terms of the loans.

Servicers break the law at will. This has been proven time and time again by the CFPB.

Guess who wants to get rid of the CFPB.

Trump.

This is what I mean when I say the Trump Administration has the most billionaires in history, yet the cult bleevs they are looking out for the little guy.

• Servicer failures are causing borrowers to pay inflated amounts that jeopardize their financial well-being: Borrowers described problems with billing, including inaccurate or late statements; errors with auto pay, including thousands of dollars incorrectly debited from accounts; and payments that were not properly applied to their balances. They also said servicers failed to give accurate guidance about income-driven repayment plans and imposed costly delays in processing refunds and applications for loan relief. For example, borrowers reported delays of nine months or more in receiving large refunds of up to $60,000. Among the dozens of individual consumer disputes highlighted in the report, there was an average of more than $14,000 disputed per borrower. These servicing issues are resulting in borrowers having difficulty meeting their other financial obligations like rent and car payments, being shut out of mortgages and homeownership, and forgoing saving for retirement, among other financial difficulties.

CFPB Report Details Student Borrower Harms from Servicing Failures and Program Disruptions | Consumer Financial Protection Bureau

The CFPB released the annual report of the Student Loan Ombudsman, highlighting severe difficulties reported by student borrowers in consumer complaints.

www.consumerfinance.gov

It's called fee pyramiding. Incredibly predatory.

.

 

[JanetTheGreat]

I agree with Trump on a lot of things, this isn't one of them. The cost of living is no different than under Biden. I don't honestly see any difference. It's the same, expensive, and prices haven't gone down to any noticeable degree.

 

[Toddsterpatriot]

The private college loan servicers are servicing government loans.

And they are raping the borrowers. Bigly.

Ask anyone who got a college loan. There are people well into their 30s still paying off loans from when they were 18.

So the government taking over the servicing of loans would be the result of the current servicers screwing the pooch.

But then someone like Trump would fire all the government workers and throw the kids back to the wolves.

He would do it because the plutocrats gave him a nice trophy.


.

.

Ask anyone who got a college loan. There are people well into their 30s still paying off loans from when they were 18.

I know a 50-year-old who still owes $100,000.

So the government taking over the servicing of loans would be the result of the current servicers screwing the pooch.

In 2010, Obama eliminated the federal guaranteed loan program, which let private lenders offer student loans at low interest rates. Now, the Department of Education is the only place to go for such loans.

The Real Student Loan Crisis Is The One Obama Created

Irresponsibility: A new report finds that 27.3% of student loans are delinquent. Why does this matter? Because thanks to President Obama, about $1 trillion dollars of student loan debt is... Read More

www.investors.com

 

[Admiral Rockwell Tory]

When my oldest daughter got her first paycheck and was gobsmacked at how little it was, she asked what all the money that was subtracked was for.

I explained taxes being used for roads, schools, the military, her future Social Security, and so forth.

And to help the poor.

My daughter transformed into Rush Limbaugh right before my eyes.

"**** THE POOR!!!"

.

She probably went out and registered as a Republican, didn't she?

 

[g5000]

A little more:

• Customer service “doom loops” and inaccurate communications are harming borrowers: Student borrowers reported encountering customer service problems such as website access issues. Borrowers reported being shuffled between servicers repeatedly without receiving help, waiting months for responses, and receiving inaccurate or misleading communications, such as miscalculated payment amounts and inaccurate due dates. Across the consumer complaint narratives highlighted in the report, borrowers waited an average of eight months for servicers to resolve their issues.

Just like Mortgage Backed Securities, all loans, including car loans, college loans, etc. are bundled and sold to investors. And those investors like the revenue flow to grow as much as possible.

Predators.

 

[Admiral Rockwell Tory]

Nope.

What he said was misunderstood. He didn't say he paid less taxes than his secretary. He said he paid a LOWER RATE than his secretary, and that's true because the top corporate tax rate is 20 percent. His secretary's tax rate is either 22 percent or 24 percent, depending how fair he is.

He may even pay her enough to bump here into the 32 or 35 percent tax bracket.

.

Buffett pays capital gains because I doubt he draws a salary.

 

[22lcidw]

Predators exist all around. And they lie. And when a person or persons or groups gets promoted as no good, the jackals come together to abuse and destroy said people. Never forget if you experienced it. Never. To me, this is why the planet is on borrowed time.

 

[g5000]

Ask anyone who got a college loan. There are people well into their 30s still paying off loans from when they were 18.

I know a 50-year-old who still owes $100,000.

That is beyond outrageous.

.

So the government taking over the servicing of loans would be the result of the current servicers screwing the pooch.

In 2010, Obama eliminated the federal guaranteed loan program, which let private lenders offer student loans at low interest rates. Now, the Department of Education is the only place to go for such loans.

The Real Student Loan Crisis Is The One Obama Created

Irresponsibility: A new report finds that 27.3% of student loans are delinquent. Why does this matter? Because thanks to President Obama, about $1 trillion dollars of student loan debt is... Read More

www.investors.com

The reason students are worse off is not the government's fault.

It is the fault of massively skyrocketing tuition. It has gone up much faster than inflation.

 

[Toddsterpatriot]

Nope.

What he said was misunderstood. He didn't say he paid less taxes than his secretary. He said he paid a LOWER RATE than his secretary, and that's true because the top corporate tax rate is 20 percent. His secretary's tax rate is either 22 percent or 24 percent, depending how fair he is.

He may even pay her enough to bump here into the 32 or 35 percent tax bracket.

.

He said he paid a LOWER RATE than his secretary, and that's true because the top corporate tax rate is 20 percent.

He's not a corporation.

His secretary's tax rate is either 22 percent or 24 percent, depending how fair he is.

He made the claim in 2011.
The brackets were 10%, 15%, 25%, 28%, 33% and 35%.
And he was lying.

 

[Toddsterpatriot]

Servicers break the law at will. This has been proven time and time again by the CFPB.

Guess who wants to get rid of the CFPB.

Trump.

This is what I mean when I say the Trump Administration has the most billionaires in history, yet the cult bleevs they are looking out for the little guy.

• Servicer failures are causing borrowers to pay inflated amounts that jeopardize their financial well-being: Borrowers described problems with billing, including inaccurate or late statements; errors with auto pay, including thousands of dollars incorrectly debited from accounts; and payments that were not properly applied to their balances. They also said servicers failed to give accurate guidance about income-driven repayment plans and imposed costly delays in processing refunds and applications for loan relief. For example, borrowers reported delays of nine months or more in receiving large refunds of up to $60,000. Among the dozens of individual consumer disputes highlighted in the report, there was an average of more than $14,000 disputed per borrower. These servicing issues are resulting in borrowers having difficulty meeting their other financial obligations like rent and car payments, being shut out of mortgages and homeownership, and forgoing saving for retirement, among other financial difficulties.

CFPB Report Details Student Borrower Harms from Servicing Failures and Program Disruptions | Consumer Financial Protection Bureau

The CFPB released the annual report of the Student Loan Ombudsman, highlighting severe difficulties reported by student borrowers in consumer complaints.

www.consumerfinance.gov

It's called fee pyramiding. Incredibly predatory.

.

Servicers break the law at will.

Obama took over college loans and hired bad servicers?

I'm shocked!

 

[Toddsterpatriot]

A little more:

• Customer service “doom loops” and inaccurate communications are harming borrowers: Student borrowers reported encountering customer service problems such as website access issues. Borrowers reported being shuffled between servicers repeatedly without receiving help, waiting months for responses, and receiving inaccurate or misleading communications, such as miscalculated payment amounts and inaccurate due dates. Across the consumer complaint narratives highlighted in the report, borrowers waited an average of eight months for servicers to resolve their issues.

Just like Mortgage Backed Securities, all loans, including car loans, college loans, etc. are bundled and sold to investors. And those investors like the revenue flow to grow as much as possible.

Predators.

The government bundles and sells off student loans?

I don't believe you.

 

[g5000]

He said he paid a LOWER RATE than his secretary, and that's true because the top corporate tax rate is 20 percent.

He's not a corporation.

Individuals pay capital gains tax. Corporations pay a flat 21 percent tax rate.

.

His secretary's tax rate is either 22 percent or 24 percent, depending how fair he is.

He made the claim in 2011.
The brackets were 10%, 15%, 25%, 28%, 33% and 35%.
And he was lying.

No, he was not.

The capital gains tax rate was even better back than. It topped out at 15 percent.


And for his secretary, she was paying 28 or 33 percent. Even worse than now.

 

[CrusaderFrank]

.
Trump added TRILLIONS of useless money. He DOUBLED the defict before Covid.

Funny you cultists NEVER mention that.



Trump? Cut spending?

Agreed. But also Trump wants to withhold $5 B and look at the reaction

Congress has no interest whatsoever in cutting spending. Tar and feathers are the only answer

 

[22lcidw]

A little more:

• Customer service “doom loops” and inaccurate communications are harming borrowers: Student borrowers reported encountering customer service problems such as website access issues. Borrowers reported being shuffled between servicers repeatedly without receiving help, waiting months for responses, and receiving inaccurate or misleading communications, such as miscalculated payment amounts and inaccurate due dates. Across the consumer complaint narratives highlighted in the report, borrowers waited an average of eight months for servicers to resolve their issues.

Just like Mortgage Backed Securities, all loans, including car loans, college loans, etc. are bundled and sold to investors. And those investors like the revenue flow to grow as much as possible.

Predators.

That fiat currency and the slave labor interest we pay. And the liars when you ask about loans. the world is on borrowed time. All people just to start who have ripped off others must be taken to task and face justice for the planet to even have a choice.

 

[kyzr]

.Trump actually bragged about this:

• Home prices hit an all-time record high.

If you're old and need to sell to get cash to move into a "retirement community" its a very good thing. Just sayin'

 

[g5000]

Buffet's primary income is from investments and therefore taxed at the capital gains rate.

 

[Toddsterpatriot]

That is beyond outrageous.

.

The reason students are worse off is not the government's fault.

It is the fault of massively skyrocketing tuition. It has gone up much faster than inflation.

That is beyond outrageous.

When you take out loans for stupid reasons and don't try to pay them off
in a reasonable time, the interest adds up.

The reason students are worse off is not the government's fault.

It is the fault of massively skyrocketing tuition.

Did you bump your head, or have you always been a moron?
If you allow any bozo to spend huge amounts of government provided
loans for college, what incentive does the college have to keep costs down?

The prices skyrocket, because why not?

It's absolutely the government's fault.

 

[Rambunctious]

This is a rant! The younger generation is really screwed these days with high costs for rent, housing, insurance, new and used cars, not to mention everything else.

She even has roommates, and still can't pay the bills.

I have a lot to say about this, and she's not completely out of line, but want to hear some other opinions.

Hair... $250.... Glasses... $1250... Nails... $120... Books??? honey dump the books and get a second or third job....

 

[Toddsterpatriot]

Individuals pay capital gains tax. Corporations pay a flat 21 percent tax rate.

.

No, he was not.

The capital gains tax rate was even better back than. It topped out at 15 percent.


And for his secretary, she was paying 28 or 33 percent. Even worse than now.

And for his secretary, she was paying 28 or 33 percent. Even worse than now.

Cool story, so how much did she make?

 

[Toddsterpatriot]

Buffet's primary income is from investments and therefore taxed at the capital gains rate.

How much was his non-cap gains income?