Trump administration considering selling off some student loan debt

[CrazyTrader55]

Discuss. Does this make any long term sense for the country? Or is it the usual, Trump says something and the left attacks, without putting any thought into it?

Unless you can get the banks to agree to take $.75 on the dollar, this is a problem that will never be solved.

 

[shockedcanadian]

Discuss. Does this make any long term sense for the country? Or it the usual, Trump says something and the left attacks, without putting any thought into it?

Unless you can get the banks to agree to take $.75 on the dollar, this is a problem that will never be solved.

The same people lending money for absurd programs should be taking on the debt.

Misguiding young people with absurd theories that have nothing to do with job-ready skills or approaches at a time when these kids can hardly make such life decisions as it is.

 

[LeftofLeft]

It’s worth exploring. With little or no controls on student debt over the years has put the US Taxpayer on the hook for irresponsible debt spending by college students and their parents.

Trump should also simultaneously be pushing for more stringent student loan guidelines. For example, if a student has no money to go to college, provide them a path of two years community college, two years state university and limit majors and concentration of study in fields that correlate to job and skillset demands.

The fallacy with student loans currently is that 18 year olds are needlessly and recklessly taking on multiple 6-digit loans to concentrate in fields of studies with no demand in the job market at private schools throughout the country.

 

[ozro]

There are people that might buy the debt, that have a history of successfully collecting the uncollectible.

 

[1srelluc]

Sure, if you can find a bank dumb enough to assume the loans.

It's just a half-measure though unless the next shoe to drop is the .gov getting out of the student loan debacle altogether.

 

[JoeB131]

Discuss. Does this make any long term sense for the country? Or is it the usual, Trump says something and the left attacks, without putting any thought into it?

Unless you can get the banks to agree to take $.75 on the dollar, this is a problem that will never be solved.

The banks probably won't pay .75 on the dollar. The problem is most of these loans are uncollectable because the robots have taken all those college jobs.

 

[1srelluc]

The banks probably won't pay .75 on the dollar. The problem is most of these loans are uncollectable because the robots have taken all those college jobs.

LOL....Learn to code the vile dems said, you will be set for life the vile dems said.

 

[CrazyTrader55]

The banks probably won't pay .75 on the dollar. The problem is most of these loans are uncollectable because the robots have taken all those college jobs.

It's collecting, not paying, $.75 on the dollar.

Secondly, NO, that's not the reason there is a student loan crisis. Not even close. The reason is, "everyone" was encouraged to go to college, and it didn't matter what you majored in. The government (read: the taxpayers) were guaranteeing your loan for art history (yes, that's an actual major), and whatever other nonsense the colleges could sell you.

So what do you think happened? Yep, that's right - the colleges were more than happy to take the money - paying it back was someone else's problem!

 

[SeaMajor7]

All that massive debt for mostly Marxist brainwashing.
What a racket.

 

[JoeB131]

LOL....Learn to code the vile dems said, you will be set for life the vile dems said.

The vile people are the ones who let one percenters dictate to the rest of us.

But keep siding with your victimizer.

 

[JoeB131]

It's collecting, not paying, $.75 on the dollar.

The government and the banks were collecting far more on interest than the original principle.

Secondly, NO, that's not the reason there is a student loan crisis. Not even close. The reason is, "everyone" was encouraged to go to college, and it didn't matter what you majored in. The government (read: the taxpayers) were guaranteeing your loan for art history (yes, that's an actual major), and whatever other nonsense the colleges could sell you.

A few points here.

First, you will find very few "Art History" majors. The top majors are very much job-related.

Secondly, even having a degree in a "worthless" degree gives you a huge step up in the job market.

For instance when Bush crashed the economy in 2008, I, with my liberal Arts degree, was able to get a job within a month. A buddy of mine with only some community college, took five months. A woman we worked with, despite having far more experience, took nearly a year because she didn't have a degree. Her resume never made it past the screening.

So what do you think happened? Yep, that's right - the colleges were more than happy to take the money - paying it back was someone else's problem!

Again, the thing is, the One Percenters have spent the last 40 years gutting the working class, but you guys blame the working class for getting gutted.

 

[CrazyTrader55]

The government and the banks were collecting far more on interest than the original principle.



A few points here.

First, you will find very few "Art History" majors. The top majors are very much job-related.

View attachment 1171183

Secondly, even having a degree in a "worthless" degree gives you a huge step up in the job market.

For instance when Bush crashed the economy in 2008, I, with my liberal Arts degree, was able to get a job within a month. A buddy of mine with only some community college, took five months. A woman we worked with, despite having far more experience, took nearly a year because she didn't have a degree. Her resume never made it past the screening.



Again, the thing is, the One Percenters have spent the last 40 years gutting the working class, but you guys blame the working class for getting gutted.

I'm not defending the 1% either.

 

[JoeB131]

I'm not defending the 1% either.

But yet you kind of are.

People made efforts to improve themselves, and the One Percenters' response has been, "let's find new ways to screw the working class".

Their new method. Eliminating those office jobs with AI.

 

[1srelluc]

Their new method. Eliminating those office jobs with AI.

 

[Cellblock2429]

The government and the banks were collecting far more on interest than the original principle.



A few points here.

First, you will find very few "Art History" majors. The top majors are very much job-related.

View attachment 1171183

Secondly, even having a degree in a "worthless" degree gives you a huge step up in the job market.

For instance when Bush crashed the economy in 2008, I, with my liberal Arts degree, was able to get a job within a month. A buddy of mine with only some community college, took five months. A woman we worked with, despite having far more experience, took nearly a year because she didn't have a degree. Her resume never made it past the screening.



Again, the thing is, the One Percenters have spent the last 40 years gutting the working class, but you guys blame the working class for getting gutted.

/------/ "Bush crashed the economy in 2008"
Nope. Stop spreading that old lie.

 

[JoeB131]

sure we can. We can regulate the shit out of AI, which isn't a safe technology, anyway.

Besides killing jobs, it's bad for the environment.

 

[JoeB131]

/------/ "Bush crashed the economy in 2008"
Nope. Stop spreading that old lie.

Um, he had been president for 8 years at that point. Can't blame anyone else for it.

 

[Lisa558]

Discuss. Does this make any long term sense for the country? Or is it the usual, Trump says something and the left attacks, without putting any thought into it?

Unless you can get the banks to agree to take $.75 on the dollar, this is a problem that will never be solved.

Before Obama killed the private student loan industry (it was hidden in the Obamacare legislation), companies were making the loans themselves.

This would merely be returning it to private in order to help downsize the government.

 

[Cellblock2429]

Um, he had been president for 8 years at that point. Can't blame anyone else for it.

/----/ I'm no fan of the RINO Bush, but he didn't create the housing crisis.
The crisis was primarily caused by the collapse of the U.S. housing market, which was fueled by an era of easy credit and lax lending standards. Financial institutions, driven by the pursuit of higher profits, began issuing subprime mortgages to borrowers with poor credit histories. These high-risk loans were then bundled into mortgage-backed securities (MBS) and sold to investors, spreading the risk throughout the financial system. The situation was exacerbated by financial innovation and deregulation, which allowed commercial banks to engage in investment banking activities and created an environment ripe for excessive risk-taking. In response to the unfolding financial crisis, governments and central banks around the world took unprecedented measures to stabilize the economy and restore confidence in the financial system.

 

[1srelluc]

sure we can. We can regulate the shit out of AI, which isn't a safe technology, anyway.

Besides killing jobs, it's bad for the environment.

Your vanity is showing, but hey.....