Biden Freezes When Reporter Asks, “Will People Who Have Privately Held Loans, Will They at Some Point become Eligible for Loan Forgiveness?”

MAGA Macho Man

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Apr 19, 2022
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He completely short circuited and went into shut down mode when asked the question.

You'll have to provide an argument as to why these private loans are as egregious as the predatory student loans that entrap children.
 
You'll have to provide an argument as to why these private loans are as egregious as the predatory student loans that entrap children.
What’s predatory about them? The student doesn’t have to begin repaying the loan until after graduation, and the terms are clearly laid out. Is my car loan predatory? Is my home loan predatory?
 
Any entity that makes massive loans to 17 year olds without doing the due diligence of determining whether they'll ever be able to pay it back should shoulder the cost
Or, the young adult shouldn’t take on a massive debt not knowing how difficult it may be - or not - to pay back, and start at community college and then move on to state college. The total debt will be less than a car note.
 
What’s predatory about them? The student doesn’t have to begin repaying the loan until after graduation, and the terms are clearly laid out. Is my car loan predatory? Is my home loan predatory?
Well regulations were put in place over the last 10+ years to stop predatory home lending. The same should be done for student loans but only the opposite has happened in that amount of time. I suspect because so many members of a certain party have nothing but contempt for education and those who pursue it.
 
Or, the young adult shouldn’t take on a massive debt not knowing how difficult it may be - or not - to pay back, and start at community college and then move on to state college. The total debt will be less than a car note.
Ah the argument that a kid, who still has to raise their hand to ask permission to use the bathroom, should be forced into decades of crippling debt in order to line the pockets of oligarchs. Because misery is the goal. Fuck you.
 
Predatory loans? You mean they didn't get hundred of thousands of dollars with zero security?!
Would you loan a child hundreds of thousands of dollars without knowing anything about them or their future? I bet you would in a system that will destroy their lives so that you could get those interest payments.
 
Well regulations were put in place over the last 10+ years to stop predatory home lending. The same should be done for student loans but only the opposite has happened in that amount of time. I suspect because so many members of a certain party have nothing but contempt for education and those who pursue it.
Oh right….Republicans have contempt for education. You leftists are delusional.
 
I bet you would in a system that will destroy their lives so that you could get those interest payments.

Especially if I could get a politician to trap the taxpayers into paying me.

If you think interest payments destroy lives ... then don't take any from your bank for savings.
 
Would you loan a child hundreds of thousands of dollars without knowing anything about them or their future? I bet you would in a system that will destroy their lives so that you could get those interest payments.
How does it destroy their lives? They borrow, on average, around $30,000, and that enables them to get a college education which, if the right major is pursued, will have them earn $1 million more over their lifetimes than a high school graduate. Good investment.

Perhaps loans should only be made to those with a marketable major - engineering, accounting, that type of thing - and kids who want to major in Ethnic Studies and General Studies have to pay for it on their own.
 
Absolutely republicans have contempt for education. Education and exposure to other opinions and ways of life are the gravest threats to the religious fundamentalism that owns your party.
All my friends are Republicans, and all have graduate degrees.
 

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