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In a way that’s worse . Banks make a KILLING on those loans
The government didn’t loan the money.Let me help you out, dumbass. The government loaned the money from taxpayers contributions, the dead beats didn't repay the loans...the government forgave the loans
Riddle me this, Mr Moron... who's money was involved in the loans?
Nobody can be as dumb as you
The government didn’t loan the money.
Banks did and the government guaranteed they’d get repaid. No other loan in the nation is like that. All have a default rate.
And that rate is baked into the interest charged
The “trick” here is that they bear zero risk but still bake that cost into the loans
Huge scam.
The government didn’t loan the money.
Banks did and the government guaranteed they’d get repaid. No other loan in the nation is like that. All have a default rate.
And that rate is baked into the interest charged
The “trick” here is that they bear zero risk but still bake that cost into the loans
Huge scam.
The Federal Reserve Fiat Currency has rules. The Currency is not positive money. It is negative money. It needs people constantly taking out loans to expand the currency. We kept it under control until around the early 1970's. There is a lot more to this from the Federal Reserve Rules. So, you are talking the Federal Government with Joe eliminating the people who took out loans for education under a program or whatever. The payments from the federal reserve rules still must be paid by someone. The taxpayer and the citizens pay for it. Inflation is part of it.
I was not aware that a VA loan could not be defaulted on. Is that true?No other loan?
Veterans will not agree. Looking over at the stack of monthly bills with our VA backed home loan on top.
WW
I was not aware that a VA loan could not be defaulted on. Is that true?
Bankruptcy has no effect on those loans??
And with a student loan… bankruptcy has no effect. You still owe on that loanWith a VA loan, it's taken out with private lenders and the VA acts as guarantor of the loan.
Depends on what you mean "could not be defaulted on". If you mean the borrower default, sure they can. The house can be seized and sold. The VA guarantees the value of the principle.
I don't believe the VA status of the loan has any impact on bankruptcy. A bankruptcy would precede as normal under rules about primary residence.
WW
And with a student loan… bankruptcy has no effect. You still owe on that loan
No?
And with a student loan… bankruptcy has no effect. You still owe on that loan
No?
I paid mine and don't worry about those who got forgiveness.
None of us lost anything who paid.
That's not me. If I had know earlier the outcome...? Would have you paid if you had known?If you realized that you didn't have to pay, and could have used that money for something else, would you have?
If college was supported at the same levels it was for the Boomer generation, I could have used that money for something else too.If you realized that you didn't have to pay, and could have used that money for something else, would you have?
What is your daughter in law’s degree in?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
Stop deflecting or be reportedWhat is your daughter in law’s degree in?
False reporting should be a criminal offenseStop deflecting or be reported
