Defaulting on Student Loans

[Concerned American]

'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.

 

[GMCGeneral]

That is why they made bankruptcy courts for when people can't pay their bills. If a rich man can write off his loans so can a student.

Student loans can't be written off.

No, they cannot.

 

[MeBelle]

That is why they made bankruptcy courts for when people can't pay their bills. If a rich man can write off his loans so can a student.

Hey Chuckles. Fed debt can never be forgiven in bankruptcy. You think they are as dumb as you?

Myth Busted: Turns Out Bankruptcy Can Wipe Out Student Loan Debt After All

Myth Busted: Turns Out Bankruptcy Can Wipe Out Student Loan Debt After All

Many Americans who get overwhelmed by student loan debt are told student debt can't be erased through bankruptcy. Now more judges and lawyers say that's a myth and bankruptcy can help.

www.npr.org

"She had private student loans with high interest rates."

Not Federal student loans.

 

[MeBelle]

Hey Chuckles. Fed debt can never be forgiven in bankruptcy. You think they are as dumb as you?

Myth Busted: Turns Out Bankruptcy Can Wipe Out Student Loan Debt After All

Myth Busted: Turns Out Bankruptcy Can Wipe Out Student Loan Debt After All

Many Americans who get overwhelmed by student loan debt are told student debt can't be erased through bankruptcy. Now more judges and lawyers say that's a myth and bankruptcy can help.

www.npr.org

"She had private student loans with high interest rates."

Not Federal student loans.

"While executive orders have paused student loan payments for federally-backed debt amid the coronavirus pandemic, sending the overall delinquency rate plummeting, it's unclear how this will play out once the payment pause is lifted."


Myth bust you!! lol!

 

[citygator]

You guys clearly never went to college. Default rates are hovering around 8.5% when you exclude “for profit” universities propped up by the right wing to steal federal money. It’s been going down for a decade otherwise.

Going to college on average earns the attendee $1m more lifetime earnings than not going. So the math is: take out a loan with a 92% chance to pay it back and earn a million dollars. Pretty easy math.

 

[Quasar44]

Why do you hate poor people?

Because they’re stupid and lazy and I hate them

 

[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?

 

[Claudette]

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.

Bush the elder did do away with the Fed involvement in student loans. He got the Fed out of it cause the loans weren't being payed back.

You can blame Clinton as he reinstituted them when he took office. Biden, much to his credit, isn't interested in tax payer paying for student loans.

That's about the only good thing he's done so far.

 

[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.

 

[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?

 

[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?

 

[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/

 

[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.

 

[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.

 

[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.

It’s a boost sure but the intent was to keep people employed. What do you mean I ignored? I was Always against it. I am 100% behind free markets and minimal Govt interference. Have never changed that position.

 

[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.

It’s a boost sure but the intent was to keep people employed. What do you mean I ignored? I was Always against it. I am 100% behind free markets and minimal Govt interference. Have never changed that position.

When do you suppose it will stop? Getting an education is done to boost business also.

As long as we are boosting wall street I'm going to support any program designed to help people on the street.

 

[task0778]

'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.

 

[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.

It’s a boost sure but the intent was to keep people employed. What do you mean I ignored? I was Always against it. I am 100% behind free markets and minimal Govt interference. Have never changed that position.

When do you suppose it will stop? Getting an education is done to boost business also.

As long as we are boosting wall street I'm going to support any program designed to help people on the street.

Only if the education is in business/finance or another marketable skill. It will stop when Congress has the balls to stop it but in reality corporate America runs this country. So not for a long time unfortunately.

 

[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.

 

[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.