Student Loan Forgiveness

[WorldWatcher]

so being home loans are government backed they can forgive all those right??

Depends.

Home loans are similar to student loans. Some are government backed and others are totally private.

So for the private loans, no.

On the other hand the government could say, "Hey WW, you've had this VA secured loan for 10 years and have 30% equity in your home. We're going to forgive the balance." They would then assume the loan, pay the bank the remaining Principal, and I'd get title to the house.

NOT going to happen, but ya, the government could pay the lender the remaining balance, assume the debt, then release the borrower.

WW

 

[Polishprince]

IMHO they shouldnt exist,,

If a private lender wants to make them, fine. But I agree that the taxpayers shouldn't be involved.

The existence of such a huge pool of public money raises the price of college for those paying on their own

 

[progressive hunter]

If a private lender wants to make them, fine. But I agree that the taxpayers shouldn't be involved.

The existence of such a huge pool of public money raises the price of college for those paying on their own

it didnt just raise the price of tuition,, it tripled it,,

 

[Frankenstein]

Well let's see my wife went to a tech school in high school, worked for 15 years went back got a higher qualification paid for by her boss because it helped his business. Then after 3 more years was asked to teach the technical class at the school she graduated from in high school, so back to school, got her degree, and has been placing students in industry for 8 years, while paying off her student debt, and has been offered zilch!

 

[Polishprince]

it didnt just raise the price of tuition,, it tripled it,,

The price of college has increased more than anything else, the money being thrown at it by the government is the reason.

And loan forgiveness will make the prices rise even higher in the future as future borrowers will understand they don't have to pay back

 

[WorldWatcher]

Well let's see my wife went to a tech school in high school, worked for 15 years went back got a higher qualification paid for by her boss because it helped his business. Then after 3 more years was asked to teach the technical class at the school she graduated from in high school, so back to school, got her degree, and has been placing students in industry for 8 years, while paying off her student debt, and has been offered zilch!

If your wife has been in the public sector, there is a loan forgiveness program that has been around for years. Work 10 years in the public sector and make your payments (usually using the lowest payment option), your loan get forgiven.

WW

 

[Mac-7]

It was in direct opposition to the post it replied to stupid

What is your daughter’s degree in?

 

[Zincwarrior]

lol

She's a doctor accountant intern? ok...

Is that intended to suggest you have some entitlement to have your debt dumped on others?

In other First world countries Trade schools and universities are free or heavily subsidized, just like they were for Boomers.

 

[John Edgar Slow Horses]

Reform education loans.

 

[IDIOCRACY]

Oh fuck that. My daughter in law has been paying student loans for 15 years. She WAS paying $850/ month. That amount was dropped because of Covid regs to $450 but that barely covers the interest.

She owes $85K still and shops at Goodwill

I thought liberals believed in freedom of choice?

 

[SassyIrishLass]

I thought liberals believed in freedom of choice?

Sounds like a worthless degree

 

[Edgetho]

Home loans are less risky for the government, as those loans are collateralized.

Student loans are just made on the borrower's signature.

IMHO, the rate on these loans should be at least 12% to cover the risk

At least the 'students' are learning a marketable skill at the Ivy League Colleges.

At quite the cost to the American Taxpayer

Billions of taxpayer dollars fund schools with anti-Israel protests

With billions in U.S. tax dollars going to colleges plagued by anti-Israel agitators, several GOP lawmakers are calling for cutting off federal funding.

www.foxbusiness.com

Billions of taxpayer dollars fund schools with anti-Israel protests​

More than $7B in taxpayer money has been given to schools that have fostered anti-Israel protests in recent weeks and months​

 

[yidnar]

Oh fuck that. My daughter in law has been paying student loans for 15 years. She WAS paying $850/ month. That amount was dropped because of Covid regs to $450 but that barely covers the interest.

She owes $85K still and shops at Goodwill

what did she major in ?

 

[Edgetho]

Oh fuck that. My daughter in law has been paying student loans for 15 years. She WAS paying $850/ month. That amount was dropped because of Covid regs to $450 but that barely covers the interest.

She owes $85K still and shops at Goodwill

One of my Doctors at the VA is still paying his Student Loans.

He makes $180k a year. VA salaries are public information.

I sure hop that $850 a Month doesn't bankrupt him. He's got bills. Like that new 7 series BMW and his Ranch in Wyoming. Plus, I suspect one of the Nurses there is his girlfriend. And, yes. She is a hottie.

I just don't see how he can afford those Student Loan repayments on his $15,000 a Month Salary.

 

[IDIOCRACY]

One of my Doctors at the VA is still paying his Student Loans.

He makes $180k a year. VA salaries are public information.

I sure hop that $850 a Month doesn't bankrupt him. He's got bills. Like that new 7 series BMW and his Ranch in Wyoming. Plus, I suspect one of the Nurses there is his girlfriend. And, yes. She is a hottie.

I just don't see how he can afford those Student Loan repayments on his $15,000 a Month Salary.

Right, and and for any money he did pay toward his loans, golly, I sure hope the govt. pays him back, otherwise it's not fair, and everyone knows democracks are about fair play.

 

[John Edgar Slow Horses]

I thought liberals believed in freedom of choice?

It's an unfair and immoral system. She has the freedom of choice to choose another, legal path.

 

[BluesLegend]

Oh fuck that. My daughter in law has been paying student loans for 15 years. She WAS paying $850/ month. That amount was dropped because of Covid regs to $450 but that barely covers the interest.

She owes $85K still and shops at Goodwill

Boo Hoo boat owners owe way more. She made her personal financial decisions. Mind you deceived by the Dem/College screw young people industry.

 

[BluesLegend]

So far Biden has spent $138 billion taxpayer dollars buying votes for $10,000 to $20,000 each via the student loan forgiveness SCAM!

 

[Lesh]

Boo Hoo boat owners owe way more. She made her personal financial decisions. Mind you deceived by the Dem/College screw young people industry.

Again. I posted that in direct opposition to the post quoted that was embracing a meme of latte drinking loan debtors

 

[Lesh]

You may be confusing private student loans which the administration can't forgive with federal student loans backed by the government.

As I said, the government can't forgive private loans.

As to the government backed loans it can forgive them, however the lending institutions are paid and the debt is shifted to the taxpayers.

WW

In a way that’s worse . Banks make a KILLING on those loans