Executive Order to forgive $50,000 in student debt

[Concerned American]

you could, theoretically, declare bankruptcy and have that mortgage be written off, yes?

No, you could file bankruptcy, true enough, but the lien holder of the property has the right to foreclose and take the property back to be sold to recoup their losses.

. . . well. . . O.K.

That takes care of the principle.

So what we are saying here, is that conservatives have no problem if Biden signed an EO, wiping out all interest, and making students liable for nothing but the principle on their debt?

Never met any conservative who turned down any govt. bailouts or refused to file bankruptcy and screw their debtors, or insisted in paying off what they borrowed to speculate in any of the bubbles that all crashed since the 1970's, so I don't give any credibility to their fake moral objections here. All they do is blame the DEmocrats as if they had guns held to thier heads and were forced to leverage their imaginary equities 50 to 1.

Well now you have. I have NEVER taken any government bailout or welfare. I have NEVER defaulted on a loan, indeed I have paid off four mortgages. I served my country for four years in the USMC and did a stint in Vietnam. I earned and saved and paid cash for my daughter's education. So fuck you, parasite. What have you done, commie?

 

[DudleySmith]

private elite colleges 3 time zones away and concentrate their studies in useless majors that have no demand in the job market

And why do Establishment politicians continue to let the administrators and tenured faculty of these colleges off the hook?

These students and families who feel entitled to this have the audacity to say they have been “enslaved” or victimized by student debt

Pick up any job application at the unemployment office — you've still got to have that degree just to get your foot in the door — along with references, letters of recommendation, verifiable employment history, two weeks notice, "eligible for rehire," no criminal or mental health history.

Basically you need absolute proof that no one who has had an opportunity to stab you in the back has ever actually stabbed you in the back before or you're screwed when you go looking for work, because somebody has family and is out on a vendetta to ruin your life.

lol corporate suck ups deserve all that and more.

 

[TNHarley]

Hope this gets challenged immediately

 

[366h34d]

Yeah if he tries to do that with an executive order it will be struck down by the courts

Who will sue??
Trump and Biden both used EO to eliminate interest on student loans during pandemics. So, student loans should be under Fed jurisdiction.

 

[DudleySmith]

you could, theoretically, declare bankruptcy and have that mortgage be written off, yes?

No, you could file bankruptcy, true enough, but the lien holder of the property has the right to foreclose and take the property back to be sold to recoup their losses.

. . . well. . . O.K.

That takes care of the principle.

So what we are saying here, is that conservatives have no problem if Biden signed an EO, wiping out all interest, and making students liable for nothing but the principle on their debt?

Never met any conservative who turned down any govt. bailouts or refused to file bankruptcy and screw their debtors, or insisted in paying off what they borrowed to speculate in any of the bubbles that all crashed since the 1970's, so I don't give any credibility to their fake moral objections here. All they do is blame the DEmocrats as if they had guns held to thier heads and were forced to leverage their imaginary equities 50 to 1.

Well now you have. I have NEVER taken any government bailout or welfare. I have NEVER defaulted on a loan, indeed I have paid off four mortgages. I served my country for four years in the USMC and did a stint in Vietnam. I earned and saved and paid cash for my daughter's education. So fuck you, parasite. What have you done, commie?

lol go fuck yourself, shill. You can claim anything on the innernetz so fuck your anecdotal rubbish as well.

 

[MisterBeale]

you could, theoretically, declare bankruptcy and have that mortgage be written off, yes?

No, you could file bankruptcy, true enough, but the lien holder of the property has the right to foreclose and take the property back to be sold to recoup their losses.

. . . well. . . O.K.

That takes care of the principle.

So what we are saying here, is that conservatives have no problem if Biden signed an EO, wiping out all interest, and making students liable for nothing but the principle on their debt?

Not at all. A mortgage is guaranteed by the real property that backs it. Student loans have nothing backing them. A student has borrowed to receive a service which he/she used. Now it is incumbent on that student to repay OR declare bankruptcy and bear all the negatives that come along with the bankruptcy. There is no free lunch.

If you take out a student loan and are unable to repay, you are not allowed to easily declare bankruptcy, that was the intent of my original posting. Sometimes the costs of declaring bankruptcy from those loans is not attainable for some folks.

Can You Discharge Your Student Loans In Bankruptcy?

Can you really discharge your student loans in bankruptcy? Well, maybe.

www.forbes.com

Yeah, I agree with you.

We would not be in this mess if folks COULD declare bankruptcy if they found themselves down the line in a position where they were unable to pay off the accumulated interest on that student debt.

 

[DudleySmith]

Yeah if he tries to do that with an executive order it will be struck down by the courts

Who will sue??
Trump and Biden both used EO to eliminate interest on student loans during pandemics. So, student loans should be under Fed jurisdiction.

It qualifies as defrauding the Federal govt. and should be prosecutable under RICO statutes as well, just like Hillary, Obama, Kerry, and the majority of Democrats andmost of the RNC and any company who solicited and received green cards as part of the ongoing criminal conspiracies to commit fraud. Silly Con Valley companies in particular should be made examples of.

 

[d0gbreath]

Does that apply retroactively? If not, I am going on a 1000 bullet murderous rampage.

You stated in another thread that you could only carry 200 rounds. Will you be able to move with 1000?

 

[MisterBeale]

you could, theoretically, declare bankruptcy and have that mortgage be written off, yes?

No, you could file bankruptcy, true enough, but the lien holder of the property has the right to foreclose and take the property back to be sold to recoup their losses.

. . . well. . . O.K.

That takes care of the principle.

So what we are saying here, is that conservatives have no problem if Biden signed an EO, wiping out all interest, and making students liable for nothing but the principle on their debt?

Never met any conservative who turned down any govt. bailouts or refused to file bankruptcy and screw their debtors, or insisted in paying off what they borrowed to speculate in any of the bubbles that all crashed since the 1970's, so I don't give any credibility to their fake moral objections here. All they do is blame the Democrats as if they had guns held to their heads and were forced to leverage their imaginary equities 50 to 1. I bought three houses for pennies on the dollar from Republicans who lost their asses in the 1980's, and every one of them had weaseled out of paying them off and stampeded over widows and orphans and the elderly to get in front of the line for bankruptcy courts.

If you honestly believe that this bailout is for the "students," or the borrows? I have some wonderful lake front property in the Sahara dessert for you.

Nah bro, this is all for the bankers who know they will never see any of this bad debt, I am sure this is all Janet Yellen's idea.


The elites loan holders are the ones that will be seeing all this money, they are the ones behind this. Lincoln project folks probably love this idea.

Keynsians are all about helicopter money. In the end, this will just further erode the purchasing power of the dollar.

 

[noonereal]

Democrats Plan $50,000 Of Student Loan Cancellation By Executive Order

Will your student loans get cancelled? It depends who you ask.

www.forbes.com

Congratulations US Taxpayer, looks like you will get to pick up the $50,000 tab of irresponsible college students and families who took on more debt than they could handle because they felt entitled to go to private elite colleges 3 time zones away and concentrate their studies in useless majors that have no demand in the job market. These students and families who feel entitled to this have the audacity to say they have been “enslaved” or victimized by student debt.

Moving forward, there needs to be more controls in place to qualify students and their families towards state and local institutions and concentrations of study that yield good paying jobs.

Check your race cards and class warfare bullshit at the door.

I have zero problem with canceling student debt. Assuming of course its' on the colleges to take the hit, not the government paying off the loan. It is after all partly the colleges fault for offering something it knows damn well is useless.

Well... If they don't know, then they are pretty shitty colleges... And as such should take the hit anyway.

You guys really are anti science/education.

Deplorable.

 

[DudleySmith]

you could, theoretically, declare bankruptcy and have that mortgage be written off, yes?

No, you could file bankruptcy, true enough, but the lien holder of the property has the right to foreclose and take the property back to be sold to recoup their losses.

. . . well. . . O.K.

That takes care of the principle.

So what we are saying here, is that conservatives have no problem if Biden signed an EO, wiping out all interest, and making students liable for nothing but the principle on their debt?

Not at all. A mortgage is guaranteed by the real property that backs it. Student loans have nothing backing them. A student has borrowed to receive a service which he/she used. Now it is incumbent on that student to repay OR declare bankruptcy and bear all the negatives that come along with the bankruptcy. There is no free lunch.

If you take out a student loan and are unable to repay, you are not allowed to easily declare bankruptcy, that was the intent of my original posting. Sometimes the costs of declaring bankruptcy from those loans is not attainable for some folks.

Can You Discharge Your Student Loans In Bankruptcy?

Can you really discharge your student loans in bankruptcy? Well, maybe.

www.forbes.com

Yeah, I agree with you.

We would not be in this mess if folks COULD declare bankruptcy if they found themselves down the line in a position where they were unable to pay off the accumulated interest on that student debt.

'Fake 'conservatives' don't object the limited liability scams that come with incorporation and LLC's, as those allow them to loot companies and not have to put their personal assets at risk if their businesses go bankrupt. This is one reason they have no credibility with all their hard ass blathering re student loans; they're hypocrites and liars, for the most part; Ive only seen a very few paleo- Libertarians who advocate getting rid of that scam and the 'corporate personhood' racket. You will never see a Republican advocating real 'free trade' or see an opinion supporting doing away with that on Town Hall or any 'conservative' fever swamp.

 

[DudleySmith]

you could, theoretically, declare bankruptcy and have that mortgage be written off, yes?

No, you could file bankruptcy, true enough, but the lien holder of the property has the right to foreclose and take the property back to be sold to recoup their losses.

. . . well. . . O.K.

That takes care of the principle.

So what we are saying here, is that conservatives have no problem if Biden signed an EO, wiping out all interest, and making students liable for nothing but the principle on their debt?

Never met any conservative who turned down any govt. bailouts or refused to file bankruptcy and screw their debtors, or insisted in paying off what they borrowed to speculate in any of the bubbles that all crashed since the 1970's, so I don't give any credibility to their fake moral objections here. All they do is blame the Democrats as if they had guns held to their heads and were forced to leverage their imaginary equities 50 to 1. I bought three houses for pennies on the dollar from Republicans who lost their asses in the 1980's, and every one of them had weaseled out of paying them off and stampeded over widows and orphans and the elderly to get in front of the line for bankruptcy courts.

If you honestly believe that this bailout is for the "students," or the borrows? I have some wonderful lake front property in the Sahara dessert for you.

Nah bro, this is all for the bankers who know they will never see any of this bad debt, I am sure this is all Janet Yellen's idea.


The elites loan holders are the ones that will be seeing all this money, they are the ones behind this. Lincoln project folks probably love this idea.

Keynsians are all about helicopter money. In the end, this will just further erode the purchasing power of the dollar.

I have no idea what you're babbling about. I never said it was about 'The Students', it's about corporations defrauding the govt. and those who have to pay back the loans with interest being scammed. You don't read very well.

 

[DudleySmith]

Yeah if he tries to do that with an executive order it will be struck down by the courts

Not if his Party owns the courts, and they own a lot of them.

 

[Shelzin]

You guys really are anti science/education.

Deplorable.

*laughs*

I'm absolutely FOR science and education. Getting a education that won't land you a good paying job is quite the education. Learned something really important there, make sure your kids don't make the same mistake.

 

[Admiral Rockwell Tory]

They should get it back from the universities for their defrauding the govt. with that loan sharking scam, and from every company who ever lied about those totally fictitious 'labor shortages' that misled many to think their majors were economically sound choices. They should also face criminal charges as well. And banks, too, should be seized and their shareholders'personal assets siezed, and refunds distributed.

There are no banks! Learn how the system works before blathering!

 

[22lcidw]

I believe that all suckers in this Prog working class/retiree class warfare agenda who stay married for their whole lives should get marriage debt payoffs. Yo other people in different nations, we sell out to the highest bidders.

 

[bripat9643]

Democrats Plan $50,000 Of Student Loan Cancellation By Executive Order

Will your student loans get cancelled? It depends who you ask.

www.forbes.com

Congratulations US Taxpayer, looks like you will get to pick up the $50,000 tab of irresponsible college students and families who took on more debt than they could handle because they felt entitled to go to private elite colleges 3 time zones away and concentrate their studies in useless majors that have no demand in the job market. These students and families who feel entitled to this have the audacity to say they have been “enslaved” or victimized by student debt.

Moving forward, there needs to be more controls in place to qualify students and their families towards state and local institutions and concentrations of study that yield good paying jobs.

Check your race cards and class warfare bullshit at the door.

Does Biden have authority to do that? Student loans were created by legislation from Congress.

 

[Jarlaxle]

If banks and businesses didn't have to pay the money back, I don't see why all should not be held to the same standard.

he banks made bad loans they should be the only ones on the hook for the money

Banks have nothing to do with it. The loans are from the US government.

Stafford Loans are federal loans made by the government, meaning you're borrowing directly from the U.S. Department of Education. That's who you'll repay when it's time, too. Today, 92% of all student loans are made by the federal government.

www.salliemae.com

And a reason, of course, that tuition costs have skyrocketed...

 

[Admiral Rockwell Tory]

Yeah if he tries to do that with an executive order it will be struck down by the courts

Who will sue??
Trump and Biden both used EO to eliminate interest on student loans during pandemics. So, student loans should be under Fed jurisdiction.

That was interest, not the whole loan!

 

[Jarlaxle]

Good, what about the 20 and 30 somethings that just finished paying off their loans in December working two jobs, eating Raman noodles and tv dinners to get by so they can be responsible adults and pay back money they owe? What do you tell those people?

DAAAAAAAAAAAAAAAAYUM, you got suckered!