Defaulting on Student Loans

[AzogtheDefiler]

'I also defaulted': Congresswoman Ayanna Pressley reveals her experience with student loan debt

Speaking during a press conference organized by the American Federation of Teachers, the congresswoman shared her experience with student loan debt, connecting her story to the experience felt by millions of others in America.

www.yahoo.com

This is a prime example of just a terrible precedent set. This lady from my state mind you, did not budget appropriately so she defaulted on her loans. That to me is not a pity moment but a teaching experience of don't take on more debt than you are able to handle. Period. End of story. What is interesting is that most universities lean far left but they have zero issue taking money from minorities and telling the Gov't its your problem not ours. Universities and NOT the tax payers should be responsible for this. If Brandeis University for example charges $150k for a degree in history and the graduate (who took out loans) doesn't have the means to earn sufficient monies to repay the debt then Brandeis should be partially responsible. Maybe universities should publish average salaries of graduates and then publish how much they need to grow to repay debt obligations? A repayment calculator?

This is a major issue and no one is holding universities responsible? Why?! Why must taxpayers be forced to cover this shortfall. Many prominent politicians mentioned. Such as Ilhan Omar, who I guess has a lot of student loan debt to repay. Maybe go into business, get a 2nd job, etc. Don't go into Gov't. Your debt, your responsibility. Not mine!

View attachment 460371

Difficult question, while I empathize with the student, I can't excuse them. Or the public schools either. It is incumbent on the public schools to prepare the future college students for common life problems--like dealing with debt. Many of these students are making enough money to pay the loans back, but they choose to maintain the debt for years because of low interest rates. They fail to look at the big picture that they are flushing that interest payment down the crapper every month for years. Our education system is failing miserably in preparing these students.

These loans have HIGH rates.

Average Student Loan Interest Rates in 2021 | Credible

4.6 - 7.3% during a time Wall Street was getting money for practically nothing. Why is that Wall Street shouldnt have to learn to live within it's means?

Financials institutions do this because the loans are backed by Govt guarantees.

The Trillions Wall Street got from the Fed isn't?

What trillions? You mean the CARES money?

https://www.washingtonpost.com/busi...ion-into-us-economy-its-just-getting-started/

So that’s not Wall Street. You know that right? Most of that was to small and mid market companies which aren’t public. That being said I still disagree with it. Printing money, which is what this essentially is may come back and bite you if the $ no longer becomes the world currency. Something China is pushing for.

It's to boost wall street. You seem to have become a quick expert for something you claimed ignored of just a few minutes ago.

My point stands.

Your point is bullshit. That money went to boost the economy during the pandemic, not wall street and the stock market. It actually did help people on Main Street.

It did but its also interference in the free markets. The smarter move IMO would have been not to shut down but let people know the risks and determine what they want to do. Paying people $600 a week to stay home was crazy.

It's only a matter of time the way we are going that we will be paying millions to stay home all the time.

That would be most unfortunate

There will be no other choice. It's only a matter of time when most all Wal-Mart and fast food jobs are gone.

Not in our lifetimes

There is already places experimenting with it.

Partially but humans still work there. It will take another 50 years at least to perfect it and by then there will be other jobs. No one saw UBER and Lyft coming seven years ago.

Automation will take those jobs also with self driving cars. Drones, etc.

Not in our lifetimes and other jobs will be created. No one misses the milk man or the ice man or the horse and carriage repair shop. Cyber security jobs will skyrocket as will energy efficiency jobs, etc. Plus the unknowns. Like I said no one saw UBER or Lyft coming seven years ago and disrupting the industry like they did.

 

[pknopp]

'I also defaulted': Congresswoman Ayanna Pressley reveals her experience with student loan debt

Speaking during a press conference organized by the American Federation of Teachers, the congresswoman shared her experience with student loan debt, connecting her story to the experience felt by millions of others in America.

www.yahoo.com

This is a prime example of just a terrible precedent set. This lady from my state mind you, did not budget appropriately so she defaulted on her loans. That to me is not a pity moment but a teaching experience of don't take on more debt than you are able to handle. Period. End of story. What is interesting is that most universities lean far left but they have zero issue taking money from minorities and telling the Gov't its your problem not ours. Universities and NOT the tax payers should be responsible for this. If Brandeis University for example charges $150k for a degree in history and the graduate (who took out loans) doesn't have the means to earn sufficient monies to repay the debt then Brandeis should be partially responsible. Maybe universities should publish average salaries of graduates and then publish how much they need to grow to repay debt obligations? A repayment calculator?

This is a major issue and no one is holding universities responsible? Why?! Why must taxpayers be forced to cover this shortfall. Many prominent politicians mentioned. Such as Ilhan Omar, who I guess has a lot of student loan debt to repay. Maybe go into business, get a 2nd job, etc. Don't go into Gov't. Your debt, your responsibility. Not mine!

View attachment 460371

Difficult question, while I empathize with the student, I can't excuse them. Or the public schools either. It is incumbent on the public schools to prepare the future college students for common life problems--like dealing with debt. Many of these students are making enough money to pay the loans back, but they choose to maintain the debt for years because of low interest rates. They fail to look at the big picture that they are flushing that interest payment down the crapper every month for years. Our education system is failing miserably in preparing these students.

These loans have HIGH rates.

Average Student Loan Interest Rates in 2021 | Credible

4.6 - 7.3% during a time Wall Street was getting money for practically nothing. Why is that Wall Street shouldnt have to learn to live within it's means?

Financials institutions do this because the loans are backed by Govt guarantees.

The Trillions Wall Street got from the Fed isn't?

What trillions? You mean the CARES money?

https://www.washingtonpost.com/busi...ion-into-us-economy-its-just-getting-started/

So that’s not Wall Street. You know that right? Most of that was to small and mid market companies which aren’t public. That being said I still disagree with it. Printing money, which is what this essentially is may come back and bite you if the $ no longer becomes the world currency. Something China is pushing for.

It's to boost wall street. You seem to have become a quick expert for something you claimed ignored of just a few minutes ago.

My point stands.

Your point is bullshit. That money went to boost the economy during the pandemic, not wall street and the stock market. It actually did help people on Main Street.

We have been doing this since 2008. Wall Street has thrived while Main Street has barely treaded water or fell further behind.

Correct. We started printing money and never stopped.

But people are getting so pissed when some want that spread around.

"Millions for me but you want a rise in the minimum wage? What is wrong with you"?

Like I always said, let free markets reign. Gov't should stay out of it.

That's GREAT but it's never going to happen. I'm not really interested in ideas that are never going to happen.

It could happen if Congress were more conservative and didn't pander for votes.

It isn't going to happen.

Back in November 2017, Senator Rand Paul wrote an op-ed titled “Here’s why I plan to vote for the Senate tax bill (and my colleagues should step up).” In it, the lawmaker from Kentucky argued that even though he’d literally staked his reputation on railing against deficit spending, he would be casting a “yea” vote for a bill that would add more than $1 trillion to the deficit over a decade. Obviously, Paul was able to overlook the fact that the legislation went against everything he supposedly stood for because it involved a massive tax cut for corporate America.

Rand Paul Tells 9/11 Victims to Suck It

 

[AzogtheDefiler]

'I also defaulted': Congresswoman Ayanna Pressley reveals her experience with student loan debt

Speaking during a press conference organized by the American Federation of Teachers, the congresswoman shared her experience with student loan debt, connecting her story to the experience felt by millions of others in America.

www.yahoo.com

This is a prime example of just a terrible precedent set. This lady from my state mind you, did not budget appropriately so she defaulted on her loans. That to me is not a pity moment but a teaching experience of don't take on more debt than you are able to handle. Period. End of story. What is interesting is that most universities lean far left but they have zero issue taking money from minorities and telling the Gov't its your problem not ours. Universities and NOT the tax payers should be responsible for this. If Brandeis University for example charges $150k for a degree in history and the graduate (who took out loans) doesn't have the means to earn sufficient monies to repay the debt then Brandeis should be partially responsible. Maybe universities should publish average salaries of graduates and then publish how much they need to grow to repay debt obligations? A repayment calculator?

This is a major issue and no one is holding universities responsible? Why?! Why must taxpayers be forced to cover this shortfall. Many prominent politicians mentioned. Such as Ilhan Omar, who I guess has a lot of student loan debt to repay. Maybe go into business, get a 2nd job, etc. Don't go into Gov't. Your debt, your responsibility. Not mine!

View attachment 460371

Difficult question, while I empathize with the student, I can't excuse them. Or the public schools either. It is incumbent on the public schools to prepare the future college students for common life problems--like dealing with debt. Many of these students are making enough money to pay the loans back, but they choose to maintain the debt for years because of low interest rates. They fail to look at the big picture that they are flushing that interest payment down the crapper every month for years. Our education system is failing miserably in preparing these students.

These loans have HIGH rates.

Average Student Loan Interest Rates in 2021 | Credible

4.6 - 7.3% during a time Wall Street was getting money for practically nothing. Why is that Wall Street shouldnt have to learn to live within it's means?

Financials institutions do this because the loans are backed by Govt guarantees.

The Trillions Wall Street got from the Fed isn't?

What trillions? You mean the CARES money?

https://www.washingtonpost.com/busi...ion-into-us-economy-its-just-getting-started/

So that’s not Wall Street. You know that right? Most of that was to small and mid market companies which aren’t public. That being said I still disagree with it. Printing money, which is what this essentially is may come back and bite you if the $ no longer becomes the world currency. Something China is pushing for.

It's to boost wall street. You seem to have become a quick expert for something you claimed ignored of just a few minutes ago.

My point stands.

Your point is bullshit. That money went to boost the economy during the pandemic, not wall street and the stock market. It actually did help people on Main Street.

We have been doing this since 2008. Wall Street has thrived while Main Street has barely treaded water or fell further behind.

Correct. We started printing money and never stopped.

But people are getting so pissed when some want that spread around.

"Millions for me but you want a rise in the minimum wage? What is wrong with you"?

Like I always said, let free markets reign. Gov't should stay out of it.

That's GREAT but it's never going to happen. I'm not really interested in ideas that are never going to happen.

It could happen if Congress were more conservative and didn't pander for votes.

It isn't going to happen.

Back in November 2017, Senator Rand Paul wrote an op-ed titled “Here’s why I plan to vote for the Senate tax bill (and my colleagues should step up).” In it, the lawmaker from Kentucky argued that even though he’d literally staked his reputation on railing against deficit spending, he would be casting a “yea” vote for a bill that would add more than $1 trillion to the deficit over a decade. Obviously, Paul was able to overlook the fact that the legislation went against everything he supposedly stood for because it involved a massive tax cut for corporate America.

Rand Paul Tells 9/11 Victims to Suck It

It is unlikely but stranger things have happened. DJT became President and AOC is in Congress....who saw that coming in 2008?

 

[pknopp]

'I also defaulted': Congresswoman Ayanna Pressley reveals her experience with student loan debt

Speaking during a press conference organized by the American Federation of Teachers, the congresswoman shared her experience with student loan debt, connecting her story to the experience felt by millions of others in America.

www.yahoo.com

This is a prime example of just a terrible precedent set. This lady from my state mind you, did not budget appropriately so she defaulted on her loans. That to me is not a pity moment but a teaching experience of don't take on more debt than you are able to handle. Period. End of story. What is interesting is that most universities lean far left but they have zero issue taking money from minorities and telling the Gov't its your problem not ours. Universities and NOT the tax payers should be responsible for this. If Brandeis University for example charges $150k for a degree in history and the graduate (who took out loans) doesn't have the means to earn sufficient monies to repay the debt then Brandeis should be partially responsible. Maybe universities should publish average salaries of graduates and then publish how much they need to grow to repay debt obligations? A repayment calculator?

This is a major issue and no one is holding universities responsible? Why?! Why must taxpayers be forced to cover this shortfall. Many prominent politicians mentioned. Such as Ilhan Omar, who I guess has a lot of student loan debt to repay. Maybe go into business, get a 2nd job, etc. Don't go into Gov't. Your debt, your responsibility. Not mine!

View attachment 460371

Difficult question, while I empathize with the student, I can't excuse them. Or the public schools either. It is incumbent on the public schools to prepare the future college students for common life problems--like dealing with debt. Many of these students are making enough money to pay the loans back, but they choose to maintain the debt for years because of low interest rates. They fail to look at the big picture that they are flushing that interest payment down the crapper every month for years. Our education system is failing miserably in preparing these students.

These loans have HIGH rates.

Average Student Loan Interest Rates in 2021 | Credible

4.6 - 7.3% during a time Wall Street was getting money for practically nothing. Why is that Wall Street shouldnt have to learn to live within it's means?

Financials institutions do this because the loans are backed by Govt guarantees.

The Trillions Wall Street got from the Fed isn't?

What trillions? You mean the CARES money?

https://www.washingtonpost.com/busi...ion-into-us-economy-its-just-getting-started/

So that’s not Wall Street. You know that right? Most of that was to small and mid market companies which aren’t public. That being said I still disagree with it. Printing money, which is what this essentially is may come back and bite you if the $ no longer becomes the world currency. Something China is pushing for.

It's to boost wall street. You seem to have become a quick expert for something you claimed ignored of just a few minutes ago.

My point stands.

Your point is bullshit. That money went to boost the economy during the pandemic, not wall street and the stock market. It actually did help people on Main Street.

We have been doing this since 2008. Wall Street has thrived while Main Street has barely treaded water or fell further behind.

Correct. We started printing money and never stopped.

But people are getting so pissed when some want that spread around.

"Millions for me but you want a rise in the minimum wage? What is wrong with you"?

Like I always said, let free markets reign. Gov't should stay out of it.

That's GREAT but it's never going to happen. I'm not really interested in ideas that are never going to happen.

It could happen if Congress were more conservative and didn't pander for votes.

It isn't going to happen.

Back in November 2017, Senator Rand Paul wrote an op-ed titled “Here’s why I plan to vote for the Senate tax bill (and my colleagues should step up).” In it, the lawmaker from Kentucky argued that even though he’d literally staked his reputation on railing against deficit spending, he would be casting a “yea” vote for a bill that would add more than $1 trillion to the deficit over a decade. Obviously, Paul was able to overlook the fact that the legislation went against everything he supposedly stood for because it involved a massive tax cut for corporate America.

Rand Paul Tells 9/11 Victims to Suck It

It is unlikely but stranger things have happened. DJT became President and AOC is in Congress....who saw that coming in 2008?

With little to nothing changing.

 

[AzogtheDefiler]

'I also defaulted': Congresswoman Ayanna Pressley reveals her experience with student loan debt

Speaking during a press conference organized by the American Federation of Teachers, the congresswoman shared her experience with student loan debt, connecting her story to the experience felt by millions of others in America.

www.yahoo.com

This is a prime example of just a terrible precedent set. This lady from my state mind you, did not budget appropriately so she defaulted on her loans. That to me is not a pity moment but a teaching experience of don't take on more debt than you are able to handle. Period. End of story. What is interesting is that most universities lean far left but they have zero issue taking money from minorities and telling the Gov't its your problem not ours. Universities and NOT the tax payers should be responsible for this. If Brandeis University for example charges $150k for a degree in history and the graduate (who took out loans) doesn't have the means to earn sufficient monies to repay the debt then Brandeis should be partially responsible. Maybe universities should publish average salaries of graduates and then publish how much they need to grow to repay debt obligations? A repayment calculator?

This is a major issue and no one is holding universities responsible? Why?! Why must taxpayers be forced to cover this shortfall. Many prominent politicians mentioned. Such as Ilhan Omar, who I guess has a lot of student loan debt to repay. Maybe go into business, get a 2nd job, etc. Don't go into Gov't. Your debt, your responsibility. Not mine!

View attachment 460371

Difficult question, while I empathize with the student, I can't excuse them. Or the public schools either. It is incumbent on the public schools to prepare the future college students for common life problems--like dealing with debt. Many of these students are making enough money to pay the loans back, but they choose to maintain the debt for years because of low interest rates. They fail to look at the big picture that they are flushing that interest payment down the crapper every month for years. Our education system is failing miserably in preparing these students.

These loans have HIGH rates.

Average Student Loan Interest Rates in 2021 | Credible

4.6 - 7.3% during a time Wall Street was getting money for practically nothing. Why is that Wall Street shouldnt have to learn to live within it's means?

Financials institutions do this because the loans are backed by Govt guarantees.

The Trillions Wall Street got from the Fed isn't?

What trillions? You mean the CARES money?

https://www.washingtonpost.com/busi...ion-into-us-economy-its-just-getting-started/

So that’s not Wall Street. You know that right? Most of that was to small and mid market companies which aren’t public. That being said I still disagree with it. Printing money, which is what this essentially is may come back and bite you if the $ no longer becomes the world currency. Something China is pushing for.

It's to boost wall street. You seem to have become a quick expert for something you claimed ignored of just a few minutes ago.

My point stands.

Your point is bullshit. That money went to boost the economy during the pandemic, not wall street and the stock market. It actually did help people on Main Street.

We have been doing this since 2008. Wall Street has thrived while Main Street has barely treaded water or fell further behind.

Correct. We started printing money and never stopped.

But people are getting so pissed when some want that spread around.

"Millions for me but you want a rise in the minimum wage? What is wrong with you"?

Like I always said, let free markets reign. Gov't should stay out of it.

That's GREAT but it's never going to happen. I'm not really interested in ideas that are never going to happen.

It could happen if Congress were more conservative and didn't pander for votes.

It isn't going to happen.

Back in November 2017, Senator Rand Paul wrote an op-ed titled “Here’s why I plan to vote for the Senate tax bill (and my colleagues should step up).” In it, the lawmaker from Kentucky argued that even though he’d literally staked his reputation on railing against deficit spending, he would be casting a “yea” vote for a bill that would add more than $1 trillion to the deficit over a decade. Obviously, Paul was able to overlook the fact that the legislation went against everything he supposedly stood for because it involved a massive tax cut for corporate America.

Rand Paul Tells 9/11 Victims to Suck It

It is unlikely but stranger things have happened. DJT became President and AOC is in Congress....who saw that coming in 2008?

With little to nothing changing.

I disagree. A whole lot changed.

 

[wamose]

College costs 5 times what it should because of federal aid to education. Only 25-30% of the people who are in college today belong there. Our education system is shot as is our educational financing system. If anyone wants to waste their time and money going to college to take remedial classes or liberal arts or some kind of gender or race studies, both you and the bank that lends you the money are nothing more than dumb fucks who should be responsible for that loan.

 

[pknopp]

College costs 5 times what it should because of federal aid to education. Only 25-30% of the people who are in college today belong there. Our education system is shot as is our educational financing system. If anyone wants to waste their time and money going to college to take remedial classes or liberal arts or some kind of gender or race studies, both you and the bank that lends you the money are both dumb fucks who should be responsible for that loan.

Higher education provides millions with the ability to fly and invisibility.

If you are going to just make things up, so can I.

 

[WTH_Progs?]

The gov't has no business at all getting involved with student loans, and it should GTFO of that mess. Same with mortgages, IMHO. No gov't backing at all, at least by the federal gov't. State and cities/counties can do whatever they want cuz they answer to their voters.

I'm all good with that as long as we stop all sorts of bailouts. From direct bailouts to pumping by the Fed. When do you suppose that will happen?

If a "businessman" isn't disqualified from office for having filed for bankruptcy I don't see what she did here as relevant.

Reading your posts, how much do you owe on your student loans?

 

[pknopp]

The gov't has no business at all getting involved with student loans, and it should GTFO of that mess. Same with mortgages, IMHO. No gov't backing at all, at least by the federal gov't. State and cities/counties can do whatever they want cuz they answer to their voters.

I'm all good with that as long as we stop all sorts of bailouts. From direct bailouts to pumping by the Fed. When do you suppose that will happen?

If a "businessman" isn't disqualified from office for having filed for bankruptcy I don't see what she did here as relevant.

Reading your posts, how much do you owe on your student loans?

I never had any. I'm 59. How many bankruptcies have you filed?

 

[AzogtheDefiler]

The gov't has no business at all getting involved with student loans, and it should GTFO of that mess. Same with mortgages, IMHO. No gov't backing at all, at least by the federal gov't. State and cities/counties can do whatever they want cuz they answer to their voters.

I'm all good with that as long as we stop all sorts of bailouts. From direct bailouts to pumping by the Fed. When do you suppose that will happen?

If a "businessman" isn't disqualified from office for having filed for bankruptcy I don't see what she did here as relevant.

Reading your posts, how much do you owe on your student loans?

I never had any. I'm 59. How many bankruptcies have you filed?

Happy belated B-day

 

[Who_Me?]

So what lessons are learned when the government allows you to break a contract?

And who takes the loss on the loan, the government? oh ok so we're more that 25 Trillion in Debt anyway, what's another $2 Trillion.

Can't wait until we're talking in Quadrillions.